Prepare for Another Leg Lower

Fuck it. I am not feeling this tape, at all.

Prepare to have your faces melted off soon, as everything in the world comes crumbling down at once. Bring that fucker Bin Laden back from the dead. The market was better when he was alive and dirty. He did live like a filthy animal, no surprise there. If it was up to me, I’d douse the entire country of Pakistan and India with clorox. Those fuckers need to be disinfected, to say the least.

I am over here updating iTunes, since my fucking computer asks me to every time I plug in my iPhone and guess what happened?

Fucking guess, you prick.

MY IPHONE GETS NUCLEAR BOMBED. Seriously, the fucker exploded in a mini mushroom cloud, just prior to electrocuting me. Something is very wrong with my karma these days. I must’ve killed millions of people in another lifetime; because the Earth is trying to offer me a final destination. Just know, “The Fly” is immortal and cannot be killed, unless of course you are in possession of Kladenets—naturally.

In summary, I intend to make a great deal of personal fortune in ERY soon. Then, I will wait until The PPT goes below 2.6 to allocate my cash horde upon the faces of those clamoring for the apocalypse.

Playing: The PPT, the next generation
Starring: NAME UNAVAILABLE

I still have full positions in AG and EXK and a large cocked one in WNR. Today’s reversal is very tempting; but I am opting to refrain from buying in just yet. It’s important to remember how margin liquidations work. This isn’t simply a case of jitters. This is forced selling and may persist for another week or two—thanks to the homosexuals at the CME.

My 50% cash position allows me to sit back and relax. Plus anyway, my current roster of stocks are so volatile, it’s driving me crazy. This is no way to go about life, worrying about murderholes and subsequent pits of fire. My 50% exposure invested in lunatic silver and refinery stocks is equal to being fully invested.

I extended my WNR, buying 10,000 at around $16.

I sold out of the rest of my CLH and TER this morning, alongside some other loose ends, upping my cash position to 50%. For my personal, I am heavily overweight ERY. The potential downside persists as long as QE3 stays off the table. The rationale behind my VXX trade last year was based around the treasury market. I didn’t believe QE2 would help and I was wrong for assuming that. I thought the sheep (you) would be funneled into the treasury markets, by our government, via a weak equities market. They call it “flight to quality.” I call it “fucktarded.”

So if QE2 is really coming to an end and leverage is being pulled at the CME, what is the bullish case for equities/commodities?

I am not suggesting it’s all down from here. However, I do think we should trade with a bit of vigilance until we reach an appropriate oversold range.

Whenever the market turns lower, the dogs come creeping out from the woodworks to profess the inner workings of the market. Without making this messier than it needs to be, let’s just agree that you’re throwing open faced peanut butter sandwiches at the windows and calling it “spring cleaning.” Your style is not mine and iBankCoin is not yours. See how it all works out, mathematically?

I do not invest anymore. I use the term loosely, to show my appreciation for relics. I was able to avoid the tough markets of 2001-2003 by only positioning in fixed income. That’s right, Le Fly was almost exclusive in the bond markets back then, specializing in distressed debt. From 2003-2007, I banked consistent coin, albeit tough sledding, trading in and out of equities. However, I held some positions for years, mainly because I believed in the long term prospects of the economic model. Hell, housing was great and unemployment was so low, even my barber had 300k in stocks. However, in late 2007 to early 2008 everything changed.

I was able to avoid the collapse and make 60%+ by being short the market. In order to accomplish this, at the very minimum of requirements, I had to sell everything and then sell them again. Feel free to dabble throughout my archives to see how I traded it back then. During 2009, I covered my shorts and went long, making 90% for the year. As most of you know, in 2010, again, I was long and made about 60%+. Some people ask me “why bother trading, especially when you have such good investments ideas?” While that is true, the greater and more important truth, unvarnished, is I do not believe this system of economic structure is sustainable.

I’ve been living on pins and needles for the better part of 4 years now, waiting for some cataclysm to hit. The difference between me and the bearish blogger down the street from you is 9 figures in assets under management and the ability to take advantage of the bubble being built on easy money. This is a very important point that most of you forget to document. None of what we are doing here matters. We are simply trading today’s sentiment for tomorrow’s, when no one really knows what tomorrow will bring. Understand?

Let me put it to you this way: you see me buying the refiners right? From my balls to the wall, over-caffeinated induced blogs, discussing how “awesome and amazing” the refiners are, one might think I would never sell them. Just know, I will sell them in a second if I think the trade is dead. I sold my PSLV yesterday because I wanted to take profits. Sometimes you get lucky. I sold a bunch of stocks today because they weren’t central to my current theme. None of them matter. They are simply letters of the alphabet affixed to digits. Unlike your magical book of creation, they are not sacred.

I cannot tell you where this market is going to bring me. In all likelihood, by the end of the year I will be sipping on grotesquely large mugs, overflowing with black smoke. I will trade from a central point of rebellion, where bustling metal could be heard on a continuous basis. Or, maybe the BEARDED CLAM will reveal QE3 and allow me to further denigrate the bearshitter wrapped in burlap, to the point where their faces are nothing more than imprints in mud.

In summary: ebb and flow.

NEVER come here and offer me financial advice, you little trollop. None of the shit that you are doing is relevant to me. The problem here is two fold: 1. I don’t give a shit about what you have to say, save access to ample plutonium supplies. 2. Nothing you have to say is better than what I already know.

I know exactly what is transpiring, even when losing money. I’ve been doing this shit for a long, long time and do not require the services of inferior people. In short, you should know your place by now and refrain from speaking directly to “The Fly.” Should you wish to speak with me, first, send a hand written, and notarized, message to one of my underlings. They will screen said messages first, weeding out the clam-chowder. Then, in due time (1-3 years), I will pick one message from a hat filled with notes, answering just one of them over the course of the next ten years.

Most of you are just shit throwers of the first order, guessing wildly at things, ignorant of worldly events and things of that nature.

I just sold out of some positions, raising my cash to about 30%. Essentially, today’s move lower wiped out half of my recent gains. It took just one bad day to annihilate my positions, after rebounding off the lows. This is very bad for investor sentiment. Today’s drop is too quick, too sudden, and will likely lead to another leg lower. Whoever was buying silver and oil last week is sick and tired of this shit and is more likely to capitulate before buying more. These aren’t garden variety moves. These are “fuck you and your couch, bitch” type of moves that I want no part of.

Inside of my personal, I made a lot of wholesale changes. At first, I bought more ALJ, then I sold the whole positions at around $12. I didn’t like the way it was trading. Also, I sold out of TER and EXK, keeping just WNR and ERY.

People are of the mindset that the Fed will always step in and make things right. But there is another frame of thought that is beginning to permeate, which entails the Fed desisting from intervening via ending quantitative easing. If so, there will be ramifications through deleveraging. Perhaps we are seeing a bit of that, over the past week?

One thing is for certain, whether you are a bull or a bear: this market is extremely complacent. It won’t take much to send this fucker down 10% in a flash. Therefore, you should protect your assets from the worst case scenario, starting right motherfucking now.

I sold out of 90% of the above positions.

I just doubled my ERY position. Cost basis is $15.55.

Many of you still do not get it. When I ban you, your life will change. I don’t just ban you from commenting on the fucking blog. I motherfucking ban you from reading the entire site. We’ve spent a great deal of time and resources developing an IP tracker that will redirect you to see Greg Solomon and tell you to fuck off. I do not implement these laws in order to protect my feelings, but to punish yours.

By all means, feel free to besmirch my positions while they are down, see where it gets you fuckface.

Remember, I do not need you, nor do I care if you read iBC. The likelihood of this making any sense to you is low. So just take my word for it: my people are watching you very closely and will not hesitate, even for a high frequency second, to knock your fucking jaw loose, straight off your garbage face.

To date, I am proud to say we’ve banned over 700 readers and will continue this tradition until “The Fly” dies in a high speed (MACH 10) spaceship accident.

NOTE: This is what happens when you are banned. The horror.