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
23,478 Blog Posts

Here Comes the Bounce

Instead of buying into the bounce, I am covering some of my shorts, via selling [[FXP]], [[EEV]] and a few others.

In short, degenerate OTB guys are trying to catch an emergency Fed rate cut early, buying now. These fat losers think they will sell on Friday, then proceed to buy a new car or boat over the weekend.

Well, I got news for you, fuckface, “The Fly” already bought that boat. It’s mine.

As you can see, oil is breaking down here, dragging lower big-stupid oil stocks. With my money, I will press my bets in [[DUG]] and buy more. I feel oil is on the other side of the mountain now and will soon afflict great damage to those who are long [[XOM]], [[CVX]]— and other big stupid oil companies.

Keep in mind, if the Fed doesn’t cut by Friday, down we go again.

NOTE: With oil knifing lower, [[DCR]] is looking “gangster good.”

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7 comments

  1. The Zombie

    Nice work on FXP, God.
    I’ve been trying to tell everyone for a long, long time.
    The Fly is God.

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  2. jeff

    any short target for dug? thinking of getting in, but it is up

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  3. Hope

    What does the phrase “gangster good” mean?

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  4. MasterDebater

    Great move in FXP and traders gotta trade, so I see why Fly is dumping here. I think that after a pullback, FXP will get to $125 in the next {insert time period here}.
    The reason?
    Wang just can’t run shit.

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  5. kd

    Do you still think markets will fall another 10%?
    How much more pain there is to come?????
    God this is fuking painful. But no worries I got an Irong gut and 10 gal. btl of maalox.
    odd no?

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  6. Fook Mi Yung

    Bounce ? What bounce ? The market hasn’t puked yet. Wait till it pukes before we get a tradeable bottom. We need to go down another 500 points to Feb March low before we bounce.

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  7. Juju bear

    Fook Mi Yung needs to work on his accent. It’s “holliburr”.

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