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

The Planet is Going to Explode

It’s too late to jump into the rally, you damn rubes. Look, if you’re like me, all stupid and shit, short stocks in a squeeze, chalk one up for the bulls. Don’t go chasing stocks up here, like it’s 1998 again.

What are you mentally ill?

Sometimes it’s important to accept the fact that you were wrong. You missed the rally. Don’t compound the first mistake by covering and going long.

Retards do that.

When the pain is unbearable, the market makes fast directional shifts—effectively deballing those who switched sides. Meaning: you will cover now, buy some [[FSLR]], [[BIDU]] and [[AA]], then the market will collpase, due to “profit taking”— taking your stupid money with it.

So, to sum things up:

If you caught this rally: good for you. Now go die.

I’ll just sit here, patiently, waiting for the planet to explode.

…any minute now.

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27 comments

  1. just watching

    POT is completely helpless here

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  2. green writer

    No need to cover until we get over DOW 12,761 and S&P 1396…more importantly this might be the last few days of rally mode until the banks start reporting next week.

    I’m amazed at how the markets can overlook all the troubles abound.

    After 5 months of negativity I guess the markets needed some relief rally.
    Peace

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  3. BanD

    Everybody’s smoking POT

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  4. Gunners

    Fly,

    stupid is spelt (sic) stoopid (sic) around here.

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  5. Juice

    the bulls have maybe 24 hours left for this current party … I think there will be one hard down day towards the end of the week, spilling over to the next day. But we go higher after that …. i’m thinking at least a 50% retrace of the november to march low, maybe the next fib level, whatever that is. 60-68% ??

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  6. BanD

    Juice,

    Or you could be wrong. Aliens could come down and back all bad debt with their “diamond deposits” in exchange for our loyalty, and anuses, sending the market to 20K. Anything can happen, as we’ve seen with the bull shittery of late.

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  7. todd

    I’m sorry but I just have two word…. FUCK LEHMAN!

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  8. Juice

    BanD .. that I could be wrong goes without saying, but I won’t be

    that aliens could come down & back all bad debt with their trinkets, is a stretch but I’m starting to believe that may be whats behind this rally

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  9. JakeGint

    Chickened out of a MEE short at $50.50 this morning. That’s probably a good sign. It’s off $1.25 from my cowardice point already.

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  10. mdawsz

    Volume here is looking pretty gay, so you’re probably right about a reversal.

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  11. JakeGint

    Brucey —

    I think Billy Meier predicted the aliens-with-trinkets deal, so watch out.

    Next fib level is 61.8%, btw.

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  12. Granpa

    Is DUG just teasing or is that inverted hammer on the hourly going to be for real?

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  13. TraderCaddy

    GW Bush needs to man up here and announce the release of some crude from the strategic reserves. It will crash crude even if no oil is actually released. It always worked for Bill Clinton.

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  14. Juice

    Meier has a time machine that makes Flys look like a toys-r-us model, so watch out!

    looks like ag, coal, steel put in a temp top this am. Since those have been the leading sectors, the rest won’t be far behind, imnsho

    thx 4 the fib info

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  15. JakeGint

    Brucey, addendum — I checked out the $SPX October 11th (not November) high to the most recent St. Paddy’s Day (3/17) low, and today it’s right on the 38.2% retracement line today… which is usually pretty strong resistance/support. That number is 1382, oddly enough.

    50% retrace is 1420, and the 61.8% line is at 1455.

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  16. Q4

    Patiently waiting… Overall market is overbought with low volume. Cashed some long positions and added to some of my shorts with conviction. Over the weekend, I heard asshats mentioning Dow 20,000, 16,000, get the fuck out of here.

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  17. Juice

    thx jake … those numbers may come in handy in a month or two

    also, the lows on 3/17 actually occurred in the overnight session .. I think those should be used, no?

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  18. Smoke Porterhouse
    Smoke Porterhouse

    I overheard Judge Smails saying the market will stall here.

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  19. Big Mike

    Triple top here we come!

    Unloaded all 95% of my longs, initiated short on Capital One (all smart money are doing it these days, cause of auto-loans, it was even on fast money too).

    I’m very bearish right now, two days we did not break the top. XLF did not break downward trend either…

    Watch oil/gold for a pullback…leading commodities down (assuming AA doesnt fuck us over)

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  20. JakeGint

    Bruce —

    Pre-market and after hours are generally left off the charts, and for good reason I think. “Regular volume” — or lack thereof — during normal market hours gives you the best indication of where the herd is heading.

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  21. TraderCaddy

    Judge Smails just got bit by a gopher.

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  22. Alvari40

    Just initiated my first short in weeks. I was a bit early when I went long, and may be the same with my short. However, the daily downtrend line is being pounded by the Naz and Dow futures as I type. Does anyone really believe that we will breakout and continue to the upside right now, right here? Naw, I skimmed my profits and now am looking for a pullback. The low volume push up cannot convince me to commit additional cash to the upside. If you do not believe, look at the push up in the Naz futures in late Nov and early December, piss poor volume like we have had the past few weeks with a reversal to the downside once the same downtrend line was tested. This is the 3rd test of the line, so stay nimble for a possible headfake on the move down from here. Volume, volume, volume – the only thing that will make me a believer.

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  23. JakeGint

    I’m going to try to market my “Jake Yellow Streak Indicator,” maybe with a newsletter or something.

    You know, e-mail blasts & such? Something like:

    Yellow streak alert! Shat my pants thinking about shorting MEE at $50.50, and while searching around for a new pair of boxers, found it well below $48.00! Yes, you too can make money off my “Brave Sir Robin” Trading Methodology (even if I cannot)!

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  24. gappingandyapping
    gappingandyapping

    Something is up with DCR on the volume. I am buying here.

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  25. CubsRock

    Nice call on POT just watching, saw it sitting on that cliff. Banked more coin on this short than my damn MON puts.

    Nazzy is red, oh oh 😛

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  26. Gunners

    whoa, that is some serious volume on DCR

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  27. Richy Rich

    spot on fly…you can be very bullish, mildly bullish or neutral…or very bearish or mildly bearish…or neurtral…BUT you can never EVER be a little of both! Or you’re fucked. Instead, go kiss your cousin.

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