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Dr. Fly

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.

Greetings From Amish Country

Well, I spent most of my day visiting the Smithsonian, Ford’s Theatre and the Spy Museum, all very cool. We stopped by for a quick bite in Maryland and now find ourselves deep into Amish land, in the Lancaster vicinity. As told before, I intend to “blend in” with the mennonites and build furniture, in order to place time bombs in random houses.

As for stocks: they went higher today. So you understand, my TZA is only a very small position and only taken to hedge some longs in my personal account, while I am away. I will likely buy more JCP tomorrow and possibly some CIEN. Once again, the dicksuckers who were clamoring for a Greek led melt down lost again. Oh, let’s not forget the doomsayers who were panicking over a +54k jobs report. They were wrong too. The market will hit new highs. Unfortunately, it will do so without Senor Tropicana fully invested. I’ve made up plenty of ground and do not find it useful to risk much here, after such a big run.

Off to build a dresser.

Top picks: VMW, JCP

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Quick Alert: $100 Rollin’

VMW is $100 rollin’ and OG Fly is counting his collard greens.

 

[youtube:http://www.youtube.com/watch?v=UhpbslSaLiQ 616 500]

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Fly Buy: JCP, AXU

I bought 20,000 JCP and 40,000 AXU.

Disclaimer: If you buy the above stocks because of this post the next time you are on a date your credit card will be declined at dinner. And, you may lose money.

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Waiting for the Dip

I got my chips ready. Now I am simply waiting for the dip (pun intended).

I just sold out of EXK and GORO, in order to raise more cash. It should be in the 70% range by now. I am eyeballing a few precious metal stocks. Other than that, I have little interest in buying up here. My year to date gains are +12% and I intend to lift them to 20%+ on the next series of trades.

You probably cannot fathom the amount of cash I am sitting on. Should you be short WNR, I am your worst nightmare, as I intend to catch any dip that presents itself. You mustn’t go about your business as if your head was stuck in a trombone anymore. The time is now to outmaneuver thy neighbor and toss garbage on his bullshit lawn.

I still long TZA and VMW calls in my personal. They have a way of balancing each other out. And, I own ETFC, even though it’s a piece of dog shit.

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How’s My Algorithm Now, Fuckface?

Had you heeded the Godly advice of The PPT, you would have made coin in about 90% of the OVERSOLD signals, over the past two and a half years. The number of signals is in the dozens and the results have been nothing short of staggering. Going with that theme, you are now cash heavy, considering the OVERBOUGHT signal is in place. However, as told before, the accuracy of the OS is exact and without negotiation, while the OB signal is more of a warning sign. This is the case because we are in a bull market. As time progresses and the United Steaks of America delves into a fucked up post apocalypse society, I am sure the OB’s will be saving the skins of many of you cellar dwellers reading this scripture right now.

Silver has exploded to the upside, depositing coin into my current accounts, via EXK. I am saddened to see TZOO go apeshit to the upside without me. I always knew it would do that. But, I am pleased to be positioned on the other side of the cock-gobblers at Barron’s. After the bell, the CEO of GORO said they are expecting RECORD revenues from operations. Tomorrow should be interesting.

As for me, I shall visit the Smithsonian tomorrow, then venture off into Amish country, PA, where I will blend in with the rest of the mennonites and beat horses to death with whips and create fucked up furniture with me bare hands. Upon buying my furniture, a time bomb will initiate and detonate, once placed inside of your fucking bullshit house.

After all of that shit, I will head back to New York, so that I can spend more money on 3 star rated (Michelin) restaurants with Mrs. Fly.  Oh, in case you were wondering, yes, she dragged me into Pentagon City Mall, where I spent a gratuitous g on a variety of exotic lotions, perfumes and “must have” accessories to accompany a few choice garments. One day “The Fly” will donate all of Mrs. Fly’s belongings to charity, while she is in the shower, much to her decadent chagrin.

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Sell the Debt Ceiling News

I suspect our oligarchs will craft a new debt ceiling deal shortly. On that news, I will sell some more. However, I will not be shorting anything. It gets too convoluted, betting on the market going down and up at the same time. Believe you me, the memories of losing $5 million on that erroneous VXX trade is still fresh in my mind. I’d prefer to sit in cash and wait for a dip, rather than try to play guru with large directional shorts, that are only geared towards the short term.

If you see me buying TZA, it is exclusively in my personal account, where I act like a degenerate.

I like precious metal here; but will sell into debt deal news. I bought GORO because it was being flagged as OVERSOLD on our new 6 mo OS algo in The PPT. Such an algo is not for public consumption yet. The Godly folks at iBC have many irons in the fire, most your dog sized brains cannot fathom or comprehend. Details of my GORO trade are on The PPT blog page, regarding the accuracy of this signal.

I am not selling WNR until earning, so don’t bother asking.

I might sell CLF soon. However, once again, I’d rather wait for a buying climax.

 

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Decent Action

We have every reason to sell off, yet here we are hugging flatline. Because of this, I like the market early on.

My favorites today are silver stocks, with the shiny metal lagging behind in the risk trade. My largest and only silver position is EXK. After all of my sales, EXK is now my 3rd largest equity position.

Additionally, I like VMW as it rolls past $100. It’s sort of a mindless strategy, but one that works continuously: buying stocks as they pierce the $100 threshold. They tend to explode shortly thereafter. Naturally, WNR and CLF are still my top positions. As you can see, they are having a good day.

Bottom line: you can play the short squeezes here, because the pain on the short side is great. They have to cover due to margin liquidations. The longer you press the hot iron on their face, the greater the pain. However, I suggest doing so with a low risk profile, keeping at least 20% of assets in cash. We are due for a retracement, at the very minimum. The last thing you want to do is give back hard fought gains to unchecked greed.

 

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Greetings From Obamaville

At first glance, DC looks like another shithole, filled with homeless men begging for money. At closer inspection, it is a splendid city with large, spacious avenues, luxurious stores and fine architecture. This all ties in with the impeccable cleanliness that seems to be the culture in DC. I wouldn’t ever live here. However, I’d stop here for a sandwich or two, on my way to finer confines.

The fourth of July festivities were pretty cool, minus the million people that attended, stinking up the place with ape-like body odor. All in all, it was worthwhile, especially the fireworks display—which was fantastic.

Tomorrow, I venture off to see more of this stupid place. As you must understand, my blogging activities will be light; however, I will be with you in spirit. I have no idea when I will head back to NYC, as I am in no rush to go home. I might venture further south to throw eggs at Woodshedder’s house, then plant a Saudi Arabian flag on his mailbox. Or, I might head back towards PA, where I can do all sorts of idiotic things, spend money, and generally waste my time. Ultimately, the market will have to wait for me—not the other way around.

Going into tomorrow, I am 60% cash and mostly cash in my personal/aggressive account. I am long TZA, ETFC, WNR, CLF and VMW, some stock, other calls. And I will buy this market, with great energy, when it dips.

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