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
17,446 Blog Posts

Remember to Tax Loss Sell and Join Exodus in a Big Way

Good afternoon lads

I’ve been a bit busy and will be a bit busy for the next month or so setting up my new entity. Plus anyway, it’s the end of the year and no one really gives a shit about stocks right now — but you should. Let this be a reminder: go sell out of your losers for tax purposes and spend those soft dollars now, preferably on Exodus, because come January 1st you’ll kick yourselves in the head for forgetting.

If you do not need the loss, fine. But if you don’t need the loss, you probably did something very wrong this year — so maybe you truly need to rethink your process, no?

I’ll be selling out of my retarded UVXY and possibly even my HMNY positions, both my largest losses of the year. I have immense gains in other areas and this will offset them nicely. It makes no sense to pay taxes on short term gains, when some of them can be offset by the losers. You can buy those idiot stocks back in 30 days.

As for Exodus, I will be updating the GARP portfolio soon, something I do twice per annum — and of course my new quant portfolio — which will be updated on a monthly basis in 2018. Right now I am 100% GLD.

Stocks are mildly stronger today and Bitcoin has recovered somewhat. I like gold and oil here, especially gold. The crypto proxies are a little tired, coming down from their sugar high. That trade might be flagging a bit here. But do not worry, things have a tendency to revive in January, with the new year and renewed spirits.

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S. Korea Fucks Bitcoin; Cryptos Plummet in Dramatic Wagnerian Fashion

Here we go again. All of those cryptoFAGGOTS will have to HODL again — because prices are steaming lower this evening, thanks to brand spanking new S. Korea restrictions.


“The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility,” the government said in a statement.

It noted that trading prices of most virtual currencies were much higher on South Korean exchanges than they were on exchanges in other countries, although it did not provide specific examples.

The steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed, a measure recommended by the justice ministry, the statement said.

South Korea had previously announced its plan to tax capital gains from cryptocurrency trading to tackle what it sees as the risk of excessive speculation.

Bitcoin, the world’s biggest and best-known cryptocurrency, has gained more than 19-fold this year.

In South Korea, bitcoin has been extremely popular, drawing wide participation from housewives and students. As of 0304 GMT, it stood at $14,384 on the Luxembourg-based Bitstamp exchange.

Naturally, this is more bullshit, especially since the China ban only temporarily caused a drop in BTC, which was bought and sent sharply higher. I’d expect a rout in crypto proxies tomorrow. For the brave of heart, tomorrow you step in and claim what’s rightfully yours, prima noctae style.

Bitcoin is off by a harrowing 15%, thousands of points, clown style.

The counter-weight to this perverse act of risk aversion is gold. Get some, else get left choking on my fucking dust.

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Will Wireless Charging Solutions Be the Next OLED-Like Craze?

For many years OLED, previously known as PANL, was showcasing their OLED technology as the next standard in display technology. Most people discarded them because of MUH plasma and MUH led. Alas, here were are in 2017 and Apple has gobbled up all of the OLED supply, propelling shares of OLED through the roof.

There are ancillary winners in the space too, like UCTT and COHR, the latter pretty much having a monopoly on the lasers needed to produce OLED.

Today’s news out of WATT, getting FCC approval to produce wireless charging solutions up to 15 feet, has me thinking this is the next major technological advancement in the wireless space.

Here is a demo of their tech.

There were several big movers in the sector today, but the only tangible companies that I’ve found thus far are TESS, IDTI, SMTC and AVGO. The ‘wireless charger’ buzzword might help stocks like ZAGG and FH jimmy rig higher too; but make no mistake, this is a WATT story — with perhaps TESS playing a key role in distributing these devices.

With a market cap of only $187 million, there is significant upside to WATT.

Wireless fucking electricity. Amazing times.

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Big Day for Alt-EnergyFAGS: FCC Approves Wireless Electricity

Congratulations to all of those long WATT into today’s meltup.

The news for WATT was somewhat explosive. A new alien form of energy is about to enter the lexicon, ‘wireless electricity’ using radio frequency waves, courtesy of the FCC. WATT was granted approval today.

‘historic day in human’s use of radio frequency waves’
FCC determined as safe and meets guidelines set by FDA
‘Advances the potential for any devices that require batteries to operate’
Approved up to 15 ft
impact of certification ‘cannot be overstated’
specific absorption rate (SAR) was most important criteria for the co to prove device was safe
working w/ the FCC and partners on other advancements
now working w/ the international community
no timelines given
believes first mover advantage is ‘significant’
when asked by analyst, CEO noted, “The power is not that significant”

The subsequent result was more than a doubling in the price of WATT. Additionally, the entire alt-energy sector was on fire.

Here were the notable breakouts.

WATT +168%
RGSE +35%
LTBR +28%
IPWR +22%
SUNW +11%
DQ +8%
CPST +6%

Other than that, it was a boring as shit day, with utilities leading higher while retailers slumped. People are apparently winding down operations, preparing for New Year’s festivities.

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Crypto Currency Ripple Soars Again After CNBC Interview

Ripple (XRP) is now worth more than $50 billion, surpassing Bitcoin cash today as the third largest crypto currency. The market cap of Ripple was ~$230 million in January of last year. In recent weeks the price has truly take on absurd qualities, quickly shuffling from $0.24 to a record high of $1.34. I have no fucking idea what the true value of this crypto — but what I do know is that this morning’s interview with CNBC’s David Faber, discussing how Ripple could be used to settle financial transactions, certainly helped in making it look legit.

Here’s the CEO of Ripple discussing the virtues of his token.

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Oh Fuck Off Already — $AAPL is Just Fine

So the latest bullshit out of Wall Street is ‘oh no Apple’s iPhone X only sold 10 gazillion phones instead of 10.1 gazillion; therefore we must sell.’

Umm, wrong.

Apple does $52 billion in revenues PER QUARTER — you brainless shitheads. The fact that you’re wasting more than a second thinking about their sales numbers and not buying stocks HANDS OVER FIST is a testament of how fucking stupid a shithead you truly are.

Here’s Art Cashin trying to gin up some passive aggressive panic.

“The negative news surrounding Apple cast a shadow over everything. Most of the tax, the Apple suppliers, etc., etc.,” Cashin said on “Squawk on the Street.” “We’ll see if they can shake that off and get started again here.”

Regarding the overall market Wednesday, Cashin said it doesn’t look “awe-inspiring.”

“We’re still waiting to see if the Santa Claus rally can get started,” said Cashin, UBS’ director of floor operations at the New York Stock Exchange.

On Tuesday, Cashin said President Donald Trump’s signing of the tax overhaul would distort the holiday rally, which generally runs through the first two trading days of January.

“This has been a dreadful year for seasonal patterns. Almost none of them have worked,” Cashin said.

“People didn’t know how [the tax bill] was going to be treated,” he added. “So that also may have thrown some other things off.”

What the fuck is Art talking about? Everything went up this year and the fucking Nasdaq is higher by 33 fucking percent, led by a 50% gain in Apple. I’d say that’s pretty god damned seasonal. Plus anyway, would it be an abomination to see some true assholes get blown out of the market here. I mean, come fucking on already with the rank amateurs banking obscene coin in stocks and cryptos day after day. Would it be the end of the world if the market killed these people?

All I know is that 2017 has been the best fucking year for stocks in a half a decade. People should be celebrating the year now, not fucking worrying about some bullshit sales quotas out of Apple for God’s sake.

Here’s what I’m fucking doing. I’m gonna find the most hated stock on the fucking planet, buy it, and then watch short sellers get trapped inside of it and burn.

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Don’t Be a Jackass; Get Some Gold

While most of you are fixated on cryptos like animals in heat, gold is taking a gentleman’s stroll upwards, quietly sauntering higher in a drunken haze. Here have a look at my favorite chart.

I’m up a stick from where I bought the damned thing on Friday and look forward to more sticks in the not-too-distant-future. Let’s be honest with one another here: you have no idea what you’re doing in the market. You’re a salesman and halfway retarded when it comes to actually investing money. I could blow you out of the water in any sales presentation to a prospective client. Do you know why?

I just told you. You’re halfway retarded and I am a sophisticate with advanced knowledge of financial concerns and plus I’m quite personable. People generally like me and my colleagues usually take notes of the things I say during casual conversations.

So listen to me now, fucked face: get some gold.

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I’m working on my fifth glass of Bordeaux this evening, whilst cooking a nice carrot, potato, and bean stew — vegan style. I see cryptos have continued their rally and felt it was my duty to report to you my sense of things, in spite of the fact they might be mild impaired at the moment.

You have reservations and I understand. The human nature is one of violence and extreme cynicism. But greed trumps all emotions and into the New Year it is extremely unlikely we’ll see a pullback in the best performing asset class. As a species, we are very ritualistic about the New Year’s, so find comfort in knowing there are monstrous gains ahead of you here in the crypto proxy space.

At the moment, my favorites are MARA, XNET and GSUM. But we’re baking them fresh daily inside the Pelican Room in Exodus.

As an aside, I appreciate all of you who took time to read my books and I doubly appreciate all of the reviews left for In a Car Made of Dynamite Heading for the Sun; but where the fuck are the reviews for Journey into Fear? How the fuck do you expect me to spread my brand of propaganda amongst the masses with just 5 measly fucking reviews? You want to give me a god damned Xmas present? Get the fuck in there now and leave two reviews, one under your name, the other under your wife’s account. This is truly fucked up and disgraceful. You should be ashamed of yourself.

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Today’s Crypto Proxy Winners

The stock market is now fully enthralled by cryptos, sending any stock related to the sector sky bound.

Here were today’s standout winners.

TEUM +123%
IGC +90%
FTFT +42%
LFIN +35%
RIOT +27%
DIGAF +26%
DSS +21%
GLNNF +12%
PRELF +11%
SSC +9.9%
MGTI +9.5%
GROW +9.5%
XNET +7.3%
OSTK +5.3%

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