You must be patient, if you intend to make a career out of this stock game. The battle for market dominance will not be decided today. Hell, it may take a week or more of jarring volatility to iron out all of the excesses and establish a new leg higher.
Sitting here, under the lavish settings of The iBC Axiom, I am down more than 3.5% intra-day aka a punch in the cock. If I sold now and walked away, I’d lock in year to date gains of more than 70%.
However, only pussies make moves like that.
Instead, “The Fly” has decided to rest in the tall grass, waiting to bite the heads off of numerous piker brokers. I will pick and choose my next moves carefully, for they might determine my fate.
As of now, I am opting to do nothing, just sort of waiting out the correction with ample supplies of sword fish steaks and some African coffee bean beverage. Just know, I do not mix the sword fish steaks in with the coffee: that would be disgusting. Personally, I like to dip the fish into the coffee, then proceed to throw it at people in the streets.
Anyway, there is more downside left in today’s tape, as commercial Re and banks, amongst everything else, gets lit up like a bar mitzvah party in the middle of Baghdad. Be patient and prepare to serve your dish of revenge very, very cold.
If you enjoy the content at iBankCoin, please follow us on Twitter
JED
Thanks Master Fly, being patient is the hardest part of this game 🙁
BEWARE THE “FALLING BULL PAINTING” TOP!
Sir Fly,
Your marriage of market insight with incredible humor leaves one to believe that you are truly “gifted”……Patience !
15-0. That would be TWO punches.
dollar looks likes its rebounding. MY srs looks like its rebounding. Dxo is falling.
OOOOUUUCCCHHHHHH!!!
“…lit up like a bar mitzvah party in the middle of Baghdad.”
Chuckle.
DTX down 15 transports fail to confirm, railroad cars sitting empty across the US..green shoots my ass….Trade what you see not what you know hardest thing to do . Allign yourself with the views of American idiots to make coin..good job by the Fly take your 70% and chill….thats what I would do
Are you still bullish on TRID?
Fly is it time to make lemonade for glw. Despite massive dow droppage my losses are very minikmal. I believe its due to your picks
Fly, is It time to add to glw? I’m preppubg some lemonade as I type
Sorry about that. Stuoid crackberry malfunc
Made Man called this little correction to the tee and will guide the Fly throughout his long and varied career. Fly will get another bit of the apple for quarter-end. But he has better be prepared for a much different market than today.
And all that I got was a crummy pen and pencil set.
At least if I had my Bar Mitzvah in Baghdad I would’ve gotten an AK47.
Mazel Tov Fly.
chivas is god.
If we fail here we go to 910, if we fail there well thats a problem.
It just figures The DevilestDogg did not pen a post for this Mondays shellackage.
That should have tipped all off that stocks would be sold.
one of these days, gapping is going to get it right.
If you owe FTK, patience comes naturally.
This comment is for Fly: All you incestuous, over protective Fly worshipers that think they are blogging via dominating comments on this blog can stop reading now.
I think this might be the start or a range-bound market. If the fly says different, I will listen. The decision is the same: hold.
back in the downside in March, someone (cuervos? ) kept saying that the market could not rally if HYG kept going down. Would that person still believe that to be relevant 3 months later?
Mr. Fly,
I have followed you quietly for a bit for your excellent observations, but always having to avert my eyes and hold my nose while wading through wretched sewer spew to get to your points. And now, I see, you really are dispensing with the foul language.
Hallelujah! You are reborn with your acid wit intact, only remarkably elevated now that the pre-pubescent tripe has been flushed out. What a relief and delight: you do clean up awfully nice.
Thank you!