iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,326 Blog Posts

I CANNOT BE DENIED, NOR STOPPED

The United States is putting Saudi Arabia on notice for production cuts.

Our relationship with China is at a record low. I would not be surprised to see some real xenophobic shit happen over the next 4 years of Trump’s term.

The market drifted higher because that’s where the pain is — located in cash accounts and people who sold out in fear trying to reconcile for missing out. On Wall Street, we call it FOMO (fear of missing out). In a sense, FOMO is what drives us to do great things. But in this case, I fear the market is gravely mistaken. It would not be the first time stocks rose on bad news. But this is more than bad. We are quite literally ball room dancing into dystopia.

I closed the session up more than 700bps. I am 100% long and will liquidate my positions into tomorrow mornings melt up. Remember, markets are closed on Friday, so tomorrow is the new Friday.

And to answer your many emails, yes, all Fly trades are made in real time inside Exodus, emailed out and texted. Join us for a month, but just know if I don’t like you — I’ll cancel your ass and ban you.

I sent Portnoy a mug the other day. It was blessed by the Stock Gods for ‘big dicked gains.” Maybe he should use it.

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46 comments

  1. i_am_nemo

    Maybe he will take your advice. We can watch him trade exodus and avoid foolish trading.

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  2. heckler

    Trolling Portnoy like that is so fucking rad!!

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    • narcist

      Boa, you still got the best lines after all these years.

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  3. narcist

    If the libtards somehow manage to prevent the worst possible COVID outcomes, they may hand the Fuhrer a serendipitous 2nd term, which will be really fun and profitable to trade.

    Remind you though: It’s still only a coin toss, and the side of the coin that features disgusting faked-tanned face of white supremacy needs a lot of luck.

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    • Mr. Cain Thaler
      Mr. Cain Thaler

      (Laughter) you guys sound like circa 2012 – the analysts and Romney crew – who thought that race was a coin toss. Instead Obama just crushed his head.

      2020 is going to be a race between an 800 lb orange gorilla coated in teflon and a feeble old man who wandered through a door someone accidentally left unlocked in the senility ward.

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      • narcist

        Incorrect. Trump never managed to expand his base. He gets to keep all of his deplorables. But that’s about it.

        Biden is less unlikable than Hillary. That makes a difference.

        But if Biden makes a bad VP choice, I may donate to Trump instead.

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  4. awanka

    This pig made a few tiny-dicked gains, not worthy of mentioning within these hallowed halls. A schizophrenic market, Mr. Fly. People were saying it rallied because Bernie stopped his campaign? Something that was 100% known. lol.

    Strong resistance up above. Would be surprised if we break through, but with all this FED fueled FOMO madness, who knows?

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    • narcist

      Yup, the financial press needs bullshit headlines on a daily basis.

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  5. it is showtime

    To clarify the context from earlier in the week. Further.

    ….It would be the biggest political fucking #Epicfail ever
    ….for the nwo, or democrats or globalist establishment,
    ….To get this far, in the election year, and not seal it.

    [and let everything shoot back and give trump term2]

    I believe a 2nd trigger is forthcoming,
    Now that spread acceleration sputtered.
    (food supply chain unrest, terror event, more bioterror, liquidity spiral)

    (Unless trump made a deal to lie down back off and play dead)

    There’s…
    no fucking way…
    Trump is allowed to become the best president ever
    With stock indexes not taking a final plunge
    (for whatever reason)

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    • quietstorm

      I agree, they have him by the balls, all other attempts failed but they are nearly there. Just need that gigantic drop and they can say in November where is that awesome economy you keep touting.

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      • narcist

        The economy is already fucked. So that’s not the point.

        Trump will “win” by about the same margins like he did last time if the libtards manage to save enough old white Trump-loving motherfuckers in the swing states from COVID.

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        • tjnyt

          Cuomo’s ventilators kill 80% of intubated!

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          • narcist

            Okay, so what? Neither NY nor Cuomo will change the 2020 election outcome.

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      • Mr. Cain Thaler
        Mr. Cain Thaler

        Everyone knows the economy is dead because of coronavirus. The economy doing bad isn’t enough. McCain didn’t just run in a bad economy, people actively blamed the GOP for it. Nobody serious is going to blame Trump, they’re going to blame the Chinese.

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  6. richardweiner

    Just a reminder anyone who talks in percentages (unless you are George Soros) or says I am up 700 bps doesn’t make significant money trading. Real traders use dollar amounts. Also screenshots would be nice.

    This blog reminds me of the cuckold porn I saw on Pornhub. The guy looked just like Obama and talked in his cadence. They really played that up. But he was shorter. It wasn’t Obama. Think about it.

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    • narcist

      They are more into homosexuality than cuckold porn on this blog.

      I run into those creepy old white men (with their BBC fantasies) every now and then IRL.

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      • narcist

        http://americablog.com/2007/08/20-blowjob-bob-allen-wont-resign.html

        …Allen, R-Merritt Island, told investigators he was just playing along when the undercover Titusville officer suggested oral sex and $20 because he was intimidated by the “stocky black guy,” according to the statement.

        Yeah. Like that.

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        • narcist

          > Between 2003 and 2006, Allen voted over 90 percent of the time with the Christian Coalition.

          > Allen was convicted on November 9, 2007, and sentenced to six months’ probation, and was fined $250.

          I’m sure he sucked more BBCs since cuz God told him so.

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  7. i_am_nemo

    It is a tightrope. Of course Trump wants to spend/borrow/print all kinds of money. Congress has to come up with the legislation. Not enough money, Trump raises hell about starving people and making them homeless. He will steal the democrat narrative about throwing granny off the cliff.

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  8. edge

    I’ll never understand what people see in Trump.
    Everything about him screams “I’m a scumbag and if you trust me I’ll fuck you”.
    You wouldn’t buy a car from him.
    If he cut grass for a living he’d starve. No one would trust him with blades.
    I wouldn’t let him scrape gum off of the street in front of my house.
    I wouldn’t let him paint my house even if it was free and he supplied the paint.
    And yet so many trust him with the highest office in the land. Forgive me for once again being insulting, but his base are scum. They have to be. It cannot be explained away. Only a morally bankrupt nation would elect an obvious socionpathic conman.
    We have become a rotten, hopeless country. Civilizations don’t survive this type of immorality.
    At the minimum people who voted for this Antichrist owe us an apology. Not a chance. Classless and Immoral pieces of shit.

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    • narcist

      To be honest, America has always been this way (a rotten, hopeless country).

      It’s getting better (less rotten and hopeless) as the demos change.

      Obama won both elections with every demo except white men over 30 and white women over 30. The only other president who shares that distinction is Ulysses Grant with the landslide support of the former slaves in 1868 and 1872.

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    • awanka

      It’s interesting how much the political bent of this site has changed since the last election. In 2016 it was just Peaches as the lone holdout vs everyone else who thought Trump would be the new Moses. I think the Donald embodies a lot of traits that traders admire.

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      • narcist

        Some people just didn’t pay close enough attention to realize how full of shit he really is.

        Some just enjoyed his George Wallace style race-baiting–even George Wallace’s daughter found that shit impressive.

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        • edge

          Racism IS the key. Being brash and confident has its allure. OK I suppose as long as the person in question possesses decency and judgement.
          Seriously, people actually thought the orange Hitler was trustworthy and competent?
          My respect for people is not what it was.
          I used to wonder how the Germans could have become so fucked up in the 1930s. I get it now. People live on the edge of sanity. When they cross the line they’re just gone; they have no control.

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  9. one-eighty

    Tell the Saudis that you’ll stop selling them jets, bombs, missiles, parts, everything, until he smartens up.

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    • edge

      Trump is a Saudi tool.
      I’ll leave it at that. I’m running out of words.

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  10. purdy

    Recall that Bush I was extremely popular during the Gulf War I. Then, when we were done blowing up the Iraqi army, the let down from the war-time high led him to a loss. And he became a one term president.

    So, if we are seen to be out of the woods re corona come November, Trump may not be so popular. So, will some Trumptards be motivated to keep the crisis going? The establishment, both Dem and Repub, may be satisfied with Trump. In any case, if the Dem part of the establishment wants someone other than Trump, they’ll have Biden drop out “for health reasons” …or some such.

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    • i_am_nemo

      Sounds like Cuomo, the micromanager who says he will not run He takes your salt, sugar, caffeine, straws, plastic bags, paper bags, asswipes, guns or whatever is deemed to be harmful to the public.

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      • narcist

        All the recent obsessions with Cuomo will fade away.

        He is plenty young and very much prefers not to challenge an incumbent and saves all the powder for an open race in 2024 or 2028.

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      • edge

        Nemo- don’t fuck with my guns. I align myself with the left, as they are the legitimate inheritors of the 2A and human rights. They may need them. I’m not a right winger but WTF? The only claim the right has to the constitution is that they, like the Founders, were racists, and want to be slave owners. Their affinity for a ruling class justifies their, uh, demise. LOL.
        I voted far Reagan twice. I am not an ideologue. Back when the Republican were conservatives and weren’t fascist scum the parties competed in a rational way.
        They got along along. They drank together. They worked something out. Back when our elected “representatives” actually worked. Now they spend literally 80% of their time seeking money from the billionaires who fund our representatives for a reason.
        Once upon a time, legitimately different opinions on how the country should be run; the choice was ours.
        Today’s Republicans need to be removed from the face of the earth. Their only value is power, just for the sake of it. Principle be damned.
        Democrats leave a lot to be desired. But at least they don’t worship an Antichrist.

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        • i_am_nemo

          I would love to see a commercial with DT shooting an AR-15. Both sides suck. We need term limits for senators and representatives. These assholes start trying to get re-elected the day after they are elected. If it’s good enough for presidents and governors, it should suit them too.

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          • edge

            By whatever means necessary money has to be removed from politics. Any. Means. Necessary.

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  11. sftradeallday23
    sftradeallday23

    As i’ve said before here.. this isn’t about flattening the curve, it’s about getting the curve way down. I don’t think we have the right restrictions in place to make it happen. I do think 2 weeks from now we will be minimally lower on new cases and deaths. We will then try and reopen some parts of the economy and then have another spike or we will tighten restrictions further. either way the impact to the economy will be longer and we will be touching 20% unemployment and massive capital destruction and bankruptcies. I’ve profited on this expected relief rally. I went short into the close today and i expect we will be getting down to 17,000 on the dow in the next 3-4 months. lots of action in between and quite honestly i am hoping to retire off of all of this volatility as we haven’t seen this type of trading opportunity since 08-09. Good luck to all and enjoy the madness.

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    • i_am_nemo

      Another $4 to 6 trillion in bonds/treasuries/printed-up-monopoly-money will make you poorer or just stay even. It’s a binary bet. Technicals don’t matter. Fundamentals don’t matter. You either trust the government will print to save the economy or not. God forbid we have a stable currency that doesn’t force people to risk their money in the fucking stock market to keep up with ‘the velocity of money’.

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      • edge

        It’s so different now Nemo. The Fed shouldn’t drive the bus but they are now. Government money can indeed be a stabilizer but not when it is senior to innovation and productivity
        Problem number one.
        #2, if you have no assets you’re poor. Bailouts strip assets from the bottom 90%. The rich are made whole while the peasants have to sell assets in order to survive. The wealthy use their bailout money to buy those assets. That’s the system. By accident or design it works only for those with money.
        The stock market? Evil. All investments are. Every advantage is given to money and the average Joe isn’t like me- autistic and/or obsessive peeps who persue success in a swirling madhouse of greed.
        Damn. I’m well suited for it but why not do something else?
        I’ll wrap this up. Any economy, or political system, that doesn’t value the middle class is destined to be corrupt and dysfunctional. Only oligarchs are worthy. (Yes, sarcasm)
        Plan accordingly.

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    • edge

      Sf- despite my dour tone I am enjoying this market immensely. Glad you’re profiting.
      I hope that there is something left for my kids and grandkids to enjoy, and all of the young people.
      Do whatever you have to do to quit work. It is worth it.

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  12. itsgold

    Are the odds of Biden winning that bad?

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    • edge

      I hope not… but…the predicting of future events deep down in the rabbit hole, so far removed from what reasonable people percieve reality to be is well beyond me.
      I do not understand the insanity of those who would look me in the eye and express approval of a meglomaniac. How to convince someone that far gone of their delusions?
      What happened? Why is the right wing able to choose fantasy over reality?

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      • wolfdaddy

        If trump ran as a democrat which he was for years, you bun wearing incels would be beating off everyday praising your great leader!

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        • Po Pimp

          Bullshit. He would never sniff the nomination because Democrats aren’t a bunch of retarded jackasses.

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          • narcist

            At one point Trump was quite liberal, till around 2004 or so. By saying liberal, I really mean that he despised the people who became his base. This is Trump in 2000:

            “Well, you’ve got David Duke just joined–a bigot, a racist, a problem. I mean, this is not exactly the people you want in your party. Buchanan’s a disaster as we’ve, you know, covered. Jesse’s a terrific guy who just left the Party. And he, you know, it’s unfortunate, but he just left the Party.”

            He went on to unload on in a written press release.

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          • narcist

            *on them

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  13. tjnyt

    Numbers, gone down with drip, nowhere to be seen. He is very good with numbers, only problem, GIGO.

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