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
20,462 Blog Posts

BEST QUARTER SINCE 1987

If you ever wanted to know what it was like to trade after the 1987 crash, you’ve done it now. The Dow ran up a remarkable 18% for the quarter, whilst the Nasdaq charged ahead by 30%. You know the winners and the demeanor of this tape, highlighted by Robinhood traders laughing at bankruptcy filings and buying XYZ because the stock is supposed to trade to zero.

There is immense liquidity in this market now and retail is back, people trading this market like there’s no tomorrow. All of this makes for a fun tape, not necessarily a healthy one. Valuations, by any measure, far exceeds anything we’ve seen in over a decade — at least. Yet, the Fed is still out there providing liquidity, increasing their balance sheet to more than $7 trillion amidst cities on fire and pandemic lock-downs.

We were not supposed to V-shape rally, but we did and now everyone wants to know how the story ends. Do we continue higher, in a seamless and endless rally in stocks based upon the caprices of ignorant people? Or will we revert to the mean and CRASH THIS FUCKER into the ground?

I bought a bunch of shit today, trying to lose money. I’ve been trying to lose money all quarter, but can’t seem to find my groove. Every time I book a loss I think to myself “maybe now I can finally put myself out of my misery and end it all” and then BAM! I fucking explode with a string of 30 winners in a row. I try very hard to lose money — but sadly I fail time in and time again.

If you’re wondering if Le Fly is the real deal — join us in Exodus and see for yourself. I hold no punches and will challenge any one of you FUCKERS to a trading contest — whenever the hell you’re ready for it.

Ciao and Au revoir.

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12 comments

  1. rickyretardo

    CARV and BYFC in the AH just like last time

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  2. narcist

    @Cain (Re: Our previous unfinished discussion on 6/27)

    “They are suggesting a net 5% of the population were Republican in May but stopped being Republican in June.”

    1. Who are they? Gallup? I agree that Gallup has been one of the most unreliable pollsters for many election cycles.
    2. The total number of registered Republican voters has been shrinking for many years because, again, the GOP base is mostly old whites. So it’s no rocket science but simple arithmetic that the deceased old white Republicans don’t get replaced (1-for-1) by 18-year-old Republicans–the 18 to 34 age group is much less white (and much less Republican) and will continue to get less white (and much less Republican).

    “Polls are statistical samples. When your statistical sample gives you an unbelievable answer, it’s probably selection bias; not really happening.”

    1. You weren’t so keen on claiming “selection bias” when Trump was polling better, were you?
    2. The reason why I only included the links to the (aggregated) polls of polls is that they minimize any sampling biases. They provide a much more reliable and objective depiction of the *trends* vis-a-vis specific data points. Nate Silver and his staff track the pollsters very closely based on their accuracy/track record: https://projects.fivethirtyeight.com/pollster-ratings/
    3. My own subjective/anecdotal observations in the Atlanta-metro (e.g., more Biden signs than Trump signs in the overwhelmingly Republican parts of Cobb county, the significantly more vocal commitment about the 2020 elections from the black voters) have been confirming with the trends: https://www.realclearpolitics.com/epolls/2020/president/Georgia.html

    I have been saying quite often the election this November is still (almost) all about PA+WI+MI (each was lost by Clinton by less than 1%) that tipped the balance of electoral college outcome for Trump. Those 3 states have already swung heavily in the 2018 midterm elections against the GOP and Trump was then polling way better than he current is. You simply can’t say with a straight face that every 2016 Trump voter in those 3 states will vote for him again and *at the same time* the ones who didn’t vote last time will stay home again (as Clinton’s unfavorable stats were way higher than Biden’s unfavorable stats have ever been).

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    • narcist

      So, 6 old white Republicans still enjoy having a President who retweets videos of old white men chanting White Power as much as I do. Nice.

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  3. zusch

    Nice vid Fly

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  4. votob10782

    I am making a good salary online from home.I’ve made 97,999 dollar.s so for last 5 months working online and I’m a full time student. I’m using an online business opportunity I’m just so happy that I found out about it……… Read More

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  5. wokewa2916

    I am making a good salary online from home.I’ve made 97,999 dollar.s so for last 5 months working online and I’m a full time student. I’m using an online business opportunity I’m just so happy that I found out about it……… Read More

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  6. ericbakerbruce
    ericbakerbruce

    I am making good salary online from mom’s basement. I’ve made $43.13 so for last 5 years working online and I’m a full time moron. I’m using an online business I’m just tickled fucking pink that I found out about it. I shit myself every day I’m so happy.

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  7. alty

    Best quarter in three decades and your readers are so smart they spent it scalping and swinging short. Absolutely embarrassing.

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    • narcist

      It just says a lot that you don’t know how to trade.

      Just the 1% move lower (from 3101 to sub-3070) from yesterday 4PM to this morning (pre-market) gave me an 8% gain.

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  8. og

    Imagine being short or all cash right now. SMH

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  9. banoco9764

    I am making a good salary online from home.I’ve made 97,999 dollar.s so for last 5 months working online and I’m a full time student. I’m using an online business opportunity I’m just so happy that I found out about it……… Read More

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  10. gigah48127

    I am making a good salary online from home.I’ve made 97,999 dollar.s so for last 5 months working online and I’m a full time student. I’m using an online business opportunity I’m just so happy that I found out about it……… Read More

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    • 0 Deem this to be "Fake News"