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
20,785 Blog Posts

Setting Up for a Drop

Thanks to the resurgence of my positions, in recent weeks, my year to date gains are more than 15%.

With only a few weeks left in the year, I intend to get all defensive and shit, in order to “not fuck myself,” rank rookie style.

So, I’ve outlined a simple plan, which will be adhered to, with the strictest of rules attached.

I’ll be happy to keep 15%, then fuck around early 2008.

In short, I expect the market to go lower, but hope it doesn’t. To protect myself, I have numerous inverse ETF positions open, effectively balancing out my longs.

In other words, whether the market goes up or down: “The Fly” wins.

Odd, no?

My year is over.

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51 comments

  1. Bison Burger

    Alan Keyes is one scary black man.

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  2. The Fly

    He’s not black.

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  3. Frosty

    FLY…that is the best post since oct…sage indeed.

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  4. JakeGint

    What is that, then? Food coloring?

    _______________

    Fly: next header: Night of the Emu

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  5. The ONe

    Fly,I recall you were up 42% at one time this year. Don’t you wish you had ended then?

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  6. newequity

    He is psycho. I bet he gets 0 votes.

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  7. WildWestie

    Have we seen the run-up on MVIS to CES? You’d think the Fed is doing the PR for MVIS these days.

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  8. DEVILDOG

    Seriously Fly, you really are a sorry peice of shit. A month ago, it was kill the bears…everything to the moon. Now, you have absolutely no sense of direction and have gone into pussy-mode to hedge all your positions. I’ve enjoyed rattling your chain and taking the opposite trade to you these past few months. But really, this is pathetic. When you’re ready to crawl out of that pussy-shell of yours, I’ll be more than happy to sell you a few of my…300,000 QIDs motherfucker!!! Ka-Ching!!! DD wins AGAIN…market going lower!!!

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  9. r

    24%+ ytd. See what a degree in fine art will get you?

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  10. Bison Burger

    The more I see these incoherent fucks debate, the more I miss Newt.

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  11. newequity

    Ban DD, He is annoying and belongs on the Yahoo MB.

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  12. Chris Dodd

    Devildog is Alan Keyes

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  13. JakeGint

    Look at the lovely redness.

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  14. JakeGint

    Senator Dodd may be the equivalent efftard on the Dem side.

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  15. Woodshedder

    I am waiting for the forthcoming apologies, patiently, from you bulls, of course.

    I will not be able to type much longer today, as my hands are filled with sticky goo, as my many visits to the honey hole have soiled them.

    I told you you would get another chance to bank coin at the honey hole.

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  16. Hillary

    I am Jake

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  17. The Fly

    “Fly,I recall you were up 42% at one time this year. Don’t you wish you had ended then?”

    No. I prefer to be up 15%.

    Keeps me honest.

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  18. kidstock

    My Christmas wish for The Fly…

    May all your longs melt up and all your shorts melt down.

    Since you’re essentially done for the year, why don’t you give the Time Machine a major overhaul and get it ready for a Monster Year in 2008!

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  19. CubsRock

    looks like a double bottom to me…

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  20. Woodshedder

    Cubs, no where near a DB. For that, we retest lows. The bulls will bounce us again, i’m afraid, before that happens.

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  21. Bison Burger

    Faggy bottom.

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  22. JakeGint

    Red close at night.

    Shorter’s delight.

    Red open at morn

    Bullshitter take warn.

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  23. Steve

    Ba-Humbug

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  24. JakeGint

    Good night, Moon.

    Good night, room.

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  25. JakeGint

    Good night light,

    and the red balloon.*

    _______________

    * Greenspanian symbology.

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  26. Bison Burger

    The market says we’re getting Huckabee nominated.

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  27. Woodshedder

    Moo baa la la la

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  28. JakeGint

    Good night bears.*

    Good night chairs.**

    ___________________

    * Rather, not.

    ** of the musical variety.

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  29. JakeGint

    Bison… lol.

    I get it… IOW, “we’re getting Hillary elected.”

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  30. Woodshedder

    Red chart

    Red candle

    Red account

    Oops!

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  31. Dogwood

    Had to fill that gap sometime, might as well get it over with today….

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  32. Woodshedder

    Jake, how does the one go about how many hippos can you fit in a room?

    Replace bulls with hippos.

    By the way, for the childless, these rhymes come from a popular series of children’s books.

    I repeat, Jake has not lost his mind, yet.

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  33. JakeGint

    Lung Sac… you’ve got 22 minutes to make up 160 points.

    Get in there and buy, Mortimer, buy!!

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  34. JakeGint

    One chart, two chart,

    Red chart, blue chart.

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  35. JakeGint

    Not sure about the hippos one… is that the hippo birdie two ewe one?

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  36. Woodshedder

    No, that is Moo Baa La La La.

    I can’t remember how the hippo one begins. But a hippo has a party, and then of course more hippos show up than can fit in the house, and of course they come in pairs, which fits well with the couplet.

    Ahh, I found it

    All through the hippo night,
    Hippos play with great delight.
    But at the hippo break of day,
    The hippos all must go away.

    Its Hippos Go Berserk

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  37. possible blow off bottom in FRPT today

    for gamblers only … but mongo volume

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  38. John Bollinger

    1490 has effectively been reduced to a rubble pile as far as technicals go.

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  39. Juice

    wtf w the volatility, Batman !?!?

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  40. newequity

    Fucking shorts are evil:

    http://www.slopeofhope.com/2007/12/this-explains-e.html

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  41. Juju bear

    The Fly has become a market neutral fucktard.

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  42. Steve

    Alveoli is buying hand over fist.

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  43. Bearshitter

    Can we get a show of hands as to which way we go tomorrow? …No Fred Will not show his hand…

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  44. JakeGint

    Lung Sac made a valient try, but he did not get to his 85 over.

    Good rally, though.

    All covering?

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  45. we get a thursday before expiration inverse move shakeout/fakeout

    I’d have to guess down tomorrow, but may be a buy for next week

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  46. Larry Krudlow

    Its the greatest story never told!

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  47. Alvari40

    Jake,

    You da man. I bow to ye.

    However, with that said, my 10 long e-mini contracts at 12:42 Pacific Time helped dig me out of a serious hole. Ya see, I do trade the shit I post. I was long 2 e minis when the market was up 95 and rode it all the way down. I then went gansta with 10 contracts and had fun peeling them off. That; however, is no consolation for the fact that I must bow at Jake’s feet and follow through with my promise to not post until next Wednesday. I will; however, be lurking.

    BTW, still long 2 emini contracts.

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  48. buylo

    look, its very simple, just do what Ken Heebner does in his CGM Focus fund up 60-70% this year – I mean he’s got the fricken roadmap for you and you’re dicking around with 15%, hedging, thinking of shorts, etc., Hello, anybody home?

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  49. newequity

    Post your audited results buylo. 15% is pretty damn good for a year which sucked wind.

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  50. Mr. LIMM

    Lung Sac —

    No need to disappear. You can stay on and continue to let us know what you think.

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  51. buylo

    newequity, lets face it, 15% is ok for 1 or 2 months, anyways CGM Focus is CGMFX or the website is CGMFUNDS.COM I would get in it myself, but every time I buy a stock, etf or fund, it goes the wrong direction that’s why I’m thinking of changing my name to byhi – sello

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