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
21,152 Blog Posts

$1,000 Gold Will Sink the Market

With gold up more than 25 bucks, it’s easy to assume it will eclipse $1,000—shortly. In my opinion, the pervasive decline in the dollar, coupled with high commodity prices, will eventually wreak its havoc and put the market into a fucking sinkhole.

At the end of the day, finished food prices are out of control. The headline of $1,000 gold will resonate with the “worst case scenario” crowd, helping the market fuck itself in an expeditious fashion.

I think the easiest trade in the world, right now, is to be long [[GLD]] or [[DGP]] and short the dollar via [[UDN]].

In addition, I believe the market will finally fade the [[ABK]] news, causing a cascading panic “get the fuck out of the market now” effect.

Developing…

NOTE: I hate that Wisdom Tree Indian ETF commercial. Every time it airs, I feel like throwing a bowl of hot soup at the television. However, unfortunately, I never have hot soup nearby.

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31 comments

  1. jeff

    You will need 1/2 distilled water 1/2 alcohol mix to clean your screen. And no, you can not use bong water, as then I will be forced to inhale vapors from your TV.

    Good luck to you all, you fuck-dicks.

    SKF
    GLD
    DXDDX
    SMN

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  2. Big MIke

    Im long AMBAK and ride this shit out…

    Fly, I will purchase a HYBRID Honda with the money I make from you

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  3. Dover

    ABK halted. Charlie Gasparino must be ready to break another stupid hunch.

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  4. Dinosaur Trader

    Yeah, but maybe gold will turn away from $1000 just like oil turned away at $100.

    Oh, wait… scratch that… oil at $104 you say?

    The market is going to hell.

    -DT

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  5. Chucky G

    I love these fucking Yahoo headlines: on top it says “Stocks Rise on Service Sector Report”, immediately below it says “US Service Sector Shrank in February”. And then, “Factory Orders Dropped in January”.
    Fly, instead of declaring war on the intelligent and beautiful people of CNBC, you should declare war on “coked out hedge fund managers with spastic colons who trade 9-figure books like pikers and think because everybody is talking about recession, shit must be ‘priced in’, yet somehow an obvious bailout of a critical piece of financial infrastructure is not”.
    Oh well, keep it tuned to CNBC for more “breakin’ bailout news”, plus the occasional meatball recipe.

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  6. Juice

    ABK bailout fails to bailout Uggly boots

    developing ….

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  7. Juice

    re: ABK bailout being done; buy the rumor , sell the news?

    I wouldn’t doubt it ..

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  8. calvino

    Chucky Meatball, there go you boy.. running diarrhea at ya. Deal is imminent. The insolvent are going to save the bankrupt.

    update.. Chucky does not think the deal is a very important. fuck you Chuck.

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  9. Employee8

    AMK…. Old axiom

    Buy the rumor ….

    Sell the news …..

    The market has been awaiting this news so long that it no longer cares and will roll over ….

    Developing ….

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  10. TraderCaddy

    I have a good plan to boost CNBC ratings. They should broadcast one day in 3-D and everybody would get mailed 3-D glasses looking like the one Dennis wears in order to get the full effect.
    It’s turning into Bozo’s Circus every day on CNBC anyway.

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  11. Employee8

    Uh, Is the market in the red?

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  12. TraderCaddy

    I went to a movie theater complex the other night figuring the INDIA movie was playing since the trailer on CNBC looked interesting. Imagine how dumb I felt when it wasn’t playing and I now just find out it’s really an ETF.

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  13. wow

    That was the market-saving news?! Look out below.

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  14. jeff

    I’ll have you know, that teslawasright blog called the spinning top, super doji top @ 12,756 key reversal bearish trend signal.

    ,while the fly was a contrarian indicator. No disrespect to the time machine, but you may need to replace the glove box gasket.

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  15. Q4

    ABK – add more fuel to the fire.

    $1.5 billion. That ain’t goin to do shit. Plus, they recently suspended activity on the structured side for 6 months. Muni side only revenue short term, however competition from Berkshire and the state of CA just declined muni insurance on billions citing risk. Dividend cut. The snowball keeps rolling downhill…

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aQ4KLiNCQg1E&refer=home

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  16. TraderCaddy

    GS and NASDAQ action shows a bounce into the close IMO.

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  17. Chucky G

    I just emailed Becky Q. a copy of the ABK intraday with a note “now maybe you can learn a thing or two about going down .. Chucky .. xoxoxo”

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  18. Steve

    Classy

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  19. DPeezy

    That was…awesome!

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  20. TraderCaddy

    Charlie G. (from CNBC) is high on Palm Oil.

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  21. BOOMER

    Plunge protection team is about to “back” the ambac news. Here we go.

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  22. Woodshedder

    Folks, hope you’ve got your shorts on.

    New lows, on their way.

    Bulls only hope is a great NFP Friday.

    The fact that bulls can’t rally here, out of oversold conditions, means round 2 is going to the bears.

    Bears 2, Bulls 0.

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  23. Employee8

    Liz Clayman slams Gasparino for giving the markets false hope of cash infusions by banks to maintain ABK’s AAA rating …. Excellent!

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  24. Granpa

    That’s it, while the world burns, slip into your UGG’s for comfort.That’s the ticket!!

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  25. m

    agreed… do they have a double long silver?

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  26. m

    dgl has options… if it’s the eaisest trade, you should leverage it and load up the DGL calls rather than own GLD

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  27. lol

    everything going to take a big dump, including gold!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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  28. NoFlyZone

    I could not agree more about that stupid WisdomTree commercial…apparently the commercials are now being outsourced to India.

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  29. ih8wisdomtree

    You are right about those damn India ETF commercials…..if I hear that sitar one more time I will lose my mind

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  30. helpIndiasore

    PLEASE, PLEASE get this commercial off – we hear it at least 25x a day – now I hear it in my sleep and when picking up the phone I am attempted to speak with an Indian accent! The Wisdom is lost on me!!!! Who do we have to contact to “stop” that commercial???

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  31. Sueblimely

    Your previous posts were real rubbish, but this is good. This one is brilliant. Your blog is getting really better.

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