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

Markets Run Off the Blood of Bears

Long ago I stopped trying to rationalize the movements in stocks, short term. Without question, I believe we will, at some point, retest the lows. Do I need to delve into the rationale? Here’s Cramer’s take on the recent mess — confused as ever before.

The Dow is up nearly 500 and one could only surmise that buying stocks now, into a -50% GDP and 40% unemployment is a ruinous proposition. But that’s why trading is a skill, and not a right. There is a certain poetic ebb and flow to this and only real traders who’ve been in this game foe decades understands what I’m saying. My opinions change on a minute by minute basis and bullish now can transmorph into bearish later — because the moves are fast and the emotions are hot. Ideologues cannot make it in this game. Guys who wolf down pizza for a living and operate click-bait sports sites should save their money to stockpile T-shirt inventory and leave the trading to professional, men like myself who’ve been seasoned by the FIRES and have learned from millions of dollars in capital losses how to trade successfully.

I consider myself to be the very best trader in the world, not because my ego is out of control and I’m a fucking lunatic — but because I am the best and have never met anyone better.

Sure you can say “fuck head — you haven’t met the world.” That much is true and I take your points as valid — but fuck off. I do not subordinate myself to anyone, certainly not the likes of you. “The Fly” is omnipresent in this bitch, bobbing and weaving — punching jaws the fuck loose up in this quarantine bitch.

I started off bearish and now I’m foolishly bullish. I’ve done so because I am the wind and do not simply drift with it like so many of you — but I am the wind itself and have a direct connection with Mother Market herself.

Earlier this morning, after booking gains, I stepped back into the market with all of my might. Presently, I am 95% long and I’d tell you what I bought — but you’d have to be a distinguished members of Exodus first.

So sorry, stock picks are for members only.

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14 comments

  1. numbersgame

    FED on virus sceanrios:

    “(t)he staff provided two plausible economic scenarios that spanned a range of possibilities… In one scenario, economic activity started to rebound in the second half of this year. In a more adverse scenario, the economy entered recession this year, with a recovery much slower to take hold and not materially under way until next year.

    Among the downside risks to this year’s U.S. economic outlook, participants prominently cited the possibility of the virus outbreak becoming more widespread than expected. Such an event could lead to more wide-ranging temporary shutdowns, with adverse implications for the production of goods and services and for aggregate demand.

    The outlook for real economic activity over the remainder of the year was highly uncertain and depended on the spread of the virus and the measures taken to contain it. Scenarios involving a greater spread of the coronavirus and more severe social-distancing actions would be associated with a greater shutdown of production and disruption of supply chains, larger negative effects on consumer and business sentiment, more significant increases in unemployment, and worsening financial conditions. ”

    https://www.federalreserve.gov/monetarypolicy/fomcminutes20200315.htm

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    • peaches

      but there is a full moon and as he said, Fly is the wind.

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      • heckler

        I think this is straight up full moon super moon shit right here. Putting on some shorts and not because it’s always sunny

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    • narcist

      Don’t fall in love with Armageddon or you end up sounding like Peter Schiff (and/or Tim Knight).

      Keynes is still right about “markets remaining irrational a lot longer than you and I can remain solvent” after all these years.

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  2. heckler

    You’re the man Fly. I’m rooting for you

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  3. ericbakerbruce

    Bye Bye Bernie.

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    • heckler

      railroaded and sandbagged too

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      • purdy

        I wonder. Is Bernie a dupe? Or does he purposefully defuse, de-ball, and mislead those inclined towards peace?

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  4. crabby

    Humble guy, that Dr. Fly

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