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
22,010 Blog Posts

More Pain Coming

Longs are unnerved by the breakdown in key momentum names and have begun “selling it all.”

Keep in mind, fund managers HAVE to raise cash, in order to balance risk.

With the market failing here, I think it’s safe to short stocks, via [[FXP]], [[EEV]] and my favorite [[DUG]].

If a naval clash with Iran can’t boost oil prices, nothing will. Just so you know, being long DUG gets you short [[XOM]], [[CVX]], [[SLB]], [[MRO]] and [[COP]].

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21 comments

  1. Corn Trader

    Hey Shed, what do you think about the weekly MACD about to go bullish on MVIS? Looks like it is about to go super bullish here, technically. Also, seems like it is going bullish on the chart just in time for CES etc.

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  2. Culcanus

    CES non-event, fade MVIS.

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  3. The Fly

    Unfortunately, I agree.

    Too many short term traders in now. I suspect the exit will narrow, over the coming days—like a funnel.

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  4. “Nucular.”

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  5. Corn Trader

    And Fly, I do realize that charts are for asshats, but thats how I play ball. Plus, if you would have traded the DOW and S&P on weekly MACD it has been spot on the past year.

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  6. gappingandyapping
    gappingandyapping

    I am heavily long DUG, got long the day we hit 100

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  7. mrkcbill

    The market is completely Homo.

    Something just not right saying “DUG” is breaking the fuck out.

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  8. phatfriday

    here comes the Bush bounce…
    must have been that speculum he had sticking from his pocket. the market was looking for an ass opener.

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  9. Ian

    Head and shoulders?

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  10. Woodshedder

    Corn, I may have to take a look at MVIS and post it. I’m still long it, and have not been selling any.

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  11. calvino

    Fly, you have gathered a colection of reprobate ingrates here – the most thankless bunch I have ever met. I called bullshit to the top of this bounce. I gave you close to 10% in two days, I just gave you a dollar in an hour on ej – and nothing is good enough for these desperadoes. Just one bit of fucking acknowledgement – a moment of even the fucking tiniest gratitude. But nothing is good enough for these desperadoes. My kind of folks.

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  12. The Fly

    Calvino–

    Document your picks in the Peanut Gallery– via blogging.

    You will get much deserved recognition there.

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  13. Dinosaur Trader

    calvino,

    As King Of The Peanuts (my label) I like the way your wear your emotions on your “sleeve.”

    Might I suggest checking my post from this morning. You may feel better if you let some of the anger go.

    -DT

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  14. calvino

    Alrite, I feel better, someone’s at least read my post.

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  15. chivasontherocks
    chivasontherocks

    just bought 5k dia 127.61
    20k len 15.76

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  16. Corn Trader

    I noticed ducati’s post on MVIS, he sure does dig into this shit way too deep. Sometimes stocks just behave in odd ways and make you shit loads of money without reading into all the bullshit. Youtube is worthless, GOOG bought it. MVIS is worthless, but someone may buy it or the stock price may just appreaciate do to technicals, or it may just be a great idea and someone infuses cash to help them. CROX made me a ton of money riding the wave and trading it technically, however, I always knew it was an ugly fucking shoe and fads never last, especially in the market. So who knows.

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  17. Ramboa

    Calvino,
    You might also consider invoicing the collective “reprobate ingrate / desparadoes” for your gratuitous advice.

    Or, you could STFU. You have issues with self-esteem.

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  18. BOOMER

    Calvino – farg off.

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  19. calvino

    Gratuitous?? turdbungler.. your calls are succing the brown cone.. mine made money.

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  20. calvino

    Boomer .. ditto for you, ingrate turdbungler.

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  21. JakeGint

    I think you meant “turd burglar.”

    Illiterate ass pirate.

    _____________

    BTW — I’ve made two almost “to the penny” Cube calls over the last three days.

    Banking coin is all the “gratitude” I need.

    Oh yeah, that and the Giants stomping the Crackboys into ground beef.

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