iBankCoin
Joined Nov 29, 2008
329 Blog Posts

Late Night Thoughts Before Hitting the Bars

It’s quite obvious that I am not as involved on my own blog as I was before. For that, I’m sorry. There is nothing I can do about it. I love college life (again) and I love the experience that I really missed out on. I am having so much fun – fun that I missed out mostly because I was at a military academy for my freshman & sophomore years, but also because I was building up my fund as well as my real estate business. There are certain sacrifices that need to be made to get way ahead in life, and usually it’s your personal life. Understand that I want to and have to do this for my own good.

There are many, many contributors on this blog that are doing exceptionally well, with a few boasting triple-digit YTD gains. I know who you guys are. In fact, I haven’t seen so many people with double and triple-digit gains in one location and for that, I am proud. That’s what’s so great about my “trading room” – a lot of people are support each other. If you’re new, don’t screw it up by burning the bridge with me before you even know who I am. I am real and I know my game inside and out. Don’t waste my time or the time of others here. If you do, you’re out of here, just like that. Know that I have even less patience now than I did before.

Now, I was featured in the July 19th Sunday Washington Post Magazine. I found out about it today. Washington, DC is my home, by the way. Here’s the link: http://pqasb.pqarchiver.com/washingtonpost/access/1794146211.html?dids=1794146211:1794146211&FMT=FT&FMTS=ABS:FT&fmac=42089525ea69d1a09e171384021326c4&date=Jul+19%2C+2009&author=TM+Shine&desc=Market+Driven

Some of you ask some dumbass questions. One goes like, “why are you blogging and stuff when you’re making ridiculous returns?” Perhaps, I actually do enjoy helping people. I change people’s lives. What’s the purpose of being on this earth if you don’t help others? Now listen, my #1 priority is to make serious money. Then, I like to share what I have with the world. Obviously, some people have no idea how to do that, probably because they are broke, ignorant and/or have no desire to help others. I pity the fool that doesn’t help their common man, nor has the desire to do so.

Some of you still wish for my downfall. Sorry, but I have enormous protective measures in place to prevent any sort of meltdown. I have a program that monitors my activities, set at specific parameters to sell everything if I do get out of control. So, for your own good, stop wishing, hoping, and praying that I fuck up. Instead, how about you go make some money or is that too difficult for you?

Remember that post where I totally jacked up that guy who tried to call me out? Here is the link to that for the newbies on the blog: http://ibankcoin.com/chart_addict/2009/08/20/important-matters-to-discuss-real-time-profitable-calls-sf-ms-real-3rd-party-auditing-michael-stokes-epic-failure-etc/. The return at that time on Thursday, August 20, 2009 was +208%. Right now, on September 11, 2009, it’s +333.69, so SHUT UP. If you have something to say, show me your returns, audited by an independent third-party, and if you’re worth it, then we’ll talk. Otherwise, GTFO of here.

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In closing, it’s not all about the money. Once you have it, your focus shifts to other things. In fact, if I wanted to, I could just disappear from the internets and do my own thing. However, there is a greater satisfaction of knowing that I’ve helped hundreds, perhaps thousands of people, either directly or indirectly. I have hundreds of e-mails saved in m inbox labeled “testimonials” that can back that up.  Just keep doing what I’ve taught you all, and you’ll be fine.

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I Am Up

…almost +400% YTD.

I am upping my 2009 target to +500%. That is all.

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Have a Good One

We’re still in a range, meaning, don’t go crazy trying to predict direction and more importantly, betting heavily on what you believe will be the future direction of the market. I have no idea what will happen which is why I take things day-by-day.

In the 1-month chart, make note of the orange ovals. This is where major breakouts and breakdowns have been occurring. Everything else is a waste of time.

Also, today is the last day before a 3-day weekend. There will be low volume making it not worth trading (vs. the regular days I trade).

I’ll be in NYC (Financial District) for the weekend. Have a good one.

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Neutral Range on SPX / Sector Analysis

The SPX is back within the 990-1012ish neutral range. This is within a larger 980-1040 neutral range. I wouldn’t suggest trading the indices in such a tight consolidation zone.

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Is it time to short? The easy way to answer this question is to break down the market by individual sectors/industries. I like to use the Select Sector SPDRs (XLV, XLB, XLK, XLP, XLI, XLU, XLY, XLF, XLE).

For the most part, each sector is within a neutral range and/or a rising wedge or channel. The XLF is the only sector that broke through it’s lower long-term trend line (out of 9). I do pay attention when 2-3 sectors start breaking down ahead of the market, usually a precursor to a major pullback. For now, however, I don’t see a reason to rush on getting short.

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