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
23,441 Blog Posts

Update: PPT 3.00 Overbought Indicator

As you know, the market has blasted through our overbought readings, in recent weeks. Lending credence to the old saying “nothing is full proof.”  Being that we just registered another 3.00+ score on Wednesday, my question to you is: are you feeling lucky, punk?

ppt301

NOTE: Remember to tune in tomorrow, at 8:00pm, for a new Fly episode, titled:  Brimstone, Young Man, Brimstone!

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35 comments

  1. Le Fly

    Not sure. If he doesn’t show up, i am closing his window

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  2. lindsay

    Dr.- is Mr. Bones still arriving this weekend or this week?

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  3. TA

    I’ve been lucky for the 6 weeks that the PPT score has been over 3.
    No reason to think it can’t continue but that’s not me.

    I will take what the market gives me like always.
    Ego is the single worst enemy of the trader.

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  4. Goldie

    1080 on deck

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  5. The Fly

    Ta

    you are annoying to the point of madness

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  6. tom

    GOLDMAN SACS FAILED IN 2007! IT GOT BAILED OUT IN 2008. OBAMA GOT SWARN IN AS PRESIDENT IN 2009. YOU CANNOT BLAME THIS GOLDMAN SACS MESS ON OBAMA. DOES ANYBODY REMEMBER BUSH COMING OUT AND SAYING THAT WE’RE NOT IN A RECESSION, JUST AN ECOMONIC SLOWDOWN? DUH?

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    • dick and harry

      FUCK YA GOLDMAN FUCK BUSH FUCK OBAMA FUCK THE CROOKS FUCK YOU FINALLY

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    • JunkSpread

      Obama turned a quick deep recession into a prolonged (read: multi-year) period of anemic, 87 octane growth. Obama is a fucking Communist. Goldman is the reason for the recent rally. And you’re a fucking tool, Tom. Shut your hole, sir…

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      • HuggieBear

        you think this was going to be a quick recession? that’s laughable…show me one recession or economic environment driven by large scale credit destruction that ended quickly.

        also, if anything, Obama and team turned a devastating situation into a period of high-octane growth fed by ludicrous amounts of liquidity (by the way, are you operating on some kind of 12-month reality delay? i’m trying to figure out if you are still living in early ’09)

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        • Purdy

          You partisans are idiots. Bush dug the hole, and Obama kept digging.

          …and JunkSpread, Bush was not going to allow a quick, deep, cleansing recession – – he started the bailouts you idiot.

          Dick and Harry is the only one on this thread with a clue.

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          • HuggieBear

            im not partisan one way or the other im just trying to bank coin son

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        • tgarfield

          How about the ltcm collapse or the asian crisis?

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      • Spooky

        You’re so full of shit, I don’t even know where to begin.

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    • Mr. Cain Thaler

      Goldman got bailed out in 2008? That’s news to me, since I vividly recall Blankfein as saying, “…we don’t need or want this god-damn money.” Or something along those lines.

      Fucking trolls running through this place flinging all caps feces against the walls…

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  7. Nothing Sure

    O how i wish i was the best guesser

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  8. J

    Where the fuck is Doc Cane when we need him.

    This Iceland clusterfuck is starting to sound pretty serious. Even if the Volcano stopped soon, the aftermath from what I’ve read is that Europe and possibly even the US North East are going to have a fucking terrible summer and even worse winter. In fact if it keeps going the next 4 years are going to be very cold.

    If that’s the case oil and gas could end up going bonkers or not?

    Doc Cane, where the fuck are you , mate?

    Fly, you need to summon Cane and get him over here asap.

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    • Purdy

      Buy grains.

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      • J

        Yea Grains is good.

        It may put a large bid in for the Aussie dollar too.

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    • Mr. Cain Thaler

      Agreed. I miss the aptitude and thoroughness that is Dr. Cane. Hopefully, he’ll be back in time for hurricane season.

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  9. TA

    In all seriousness, Friday did a fair bit of technical damage.
    I wouldn’t be dip buying anything for longer than a day until things stabilze which will take a while.

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    • J

      TA

      If this thing is Iceland thing is serious, it could force the central banks to go even easier eventually.

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  10. Rand

    Where are the years gone by when people blamed the president in office for the mistakes of his predacessors? When jimmy fuced up and reagan got caught holding the bag? Or when clinton fukex up and bush held rbe bag?

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  11. noodleboy

    thank you very much for the update fly

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  12. Le Fly

    I have 10% of my assets in vxx and have said so from the beginning. Another 30 in tlt, 30 in cash and 30 long equities.

    Now ask yourself

    How is fly getting killed in an allocation like that?

    And, why does fly put up with assholes like me?

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  13. dishobgyn

    I love this clip of friday when Cramer gets slammed.

    http://www.youtube.com/watch?v=_AWktx-tCZg

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  14. Never Stop Learning
    Never Stop Learning

    I use to be able to price a house like the fly can pick a stock. I find myself struggling just pricing things correctly.
    I find myself seeking the advise of others i work with to help me get my game back on. Just when you think you know what your doing, the game can change. How this pertains to stocks I dont know

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  15. Woodshedder

    “full proof”

    Le Fly, that is how we like our liquor, down here.

    Me thinks you meant “fool proof,” which is how we like our guns.

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    • MX2101

      I thought so as well, but resarched it.
      I learned that his usage is correct because the subject is the PPT system, not if it “is so easy anyone can do it”.
      Saving money at Geico is foolproof, but you can bet Geico wants to be certain their risk assement models are full proof.

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  16. Mike

    3.0 my A$$ , ur not making money and gettin killed via VIX

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  17. ZenProfit

    Is “Brimstone, Young Man, Brimstone!” available in HD 3D?

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  18. RC

    looking forward to the show tonight.

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