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
20,420 Blog Posts

Costanza Trade!

I know you are tempted to buy more stocks here. You can’t help it, for your brains are really, really tiny. Do yourself a favor, pal, take profits and go clean out your car, or some shit. Find a hobby. Walk the dog; feed the wife.

With my money, I am waiting for the voices in my head to tell me to hedge, via VXX. And, I will look to sell more longs into tomorrow’s strong opening, if in fact we are blessed with one.

Market timing, on a scale like this, is not for everyone, kids. Most of you are better off watching professionals, such as myself, perform these grand theatrics, than partake in them on a personal level.

As for you brokers out there: get on the fucking phones and make a friend. Quit surfing the interwebs, you fucking losers.

NOTE: ATPG is ripping.

[youtube:http://www.youtube.com/watch?v=cKUvKE3bQlY 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter

41 comments

  1. The Zombie

    The
    Fly
    is
    God.

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  2. jg

    off to detail the batmobile.

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  3. pHukDovr

    The voices spake strongly unto me when VXX hit 27.50 and I obeyed.

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  4. tradingnymph

    My timing on VXX was a bit earlier…asked about it in PPT notes….waiting to see when FLY enters it. It’s funny my voices in my head are “Stupid, Stupid, Stupid Analyst, Stupid Rally…Fly says notthing Stupid….Stupid Rally…Doughnuts….yummm”

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  5. Bullish

    I’ll take the chicken salad!

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  6. CosmoKramer

    George says that the stock market is like swimming in water- it causes shrinkage.

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    • DMG

      See Carly Fiorina’s comments about Barbara Boxer’s hair:

      Sooooooo yesterday.

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  7. Teahouse On The Tracks
    Teahouse On The Tracks

    Lobstah roll over heah!

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  8. Scavenger

    Bought some TWM this a.m.

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  9. Jason

    Yeah, i bought vxx at 27.90 then some more at 27.55. Looking like we may push higher though, esp. If bby ups outlook

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  10. Mushroomz

    natty ripping tittays

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  11. dave

    Moodys is only about a month and a half late downgrading Greece’s debt to junk.

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  12. Apocalypse Now

    PPT @ 3.30 now. I took some risk and bought massive (for me) SPY puts @ 1.15 now at 1.37 – not bad for an hours work. Sold most of my longs, looking at TLT and VXX here.

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    • Apocalypse Now

      Bought Spy puts @ 1.15 and sold @ 1.60: To get rich in one day is glorious!

      Thanks for the market timer Fly!

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      • Po Pimp

        Why do you keep posting the PPT scores out here for the unwashed? Let them shell out some jack and get it themselves.

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        • Apocalypse Now

          I would think most of the individuals following this blog also have a PPT membership.

          My posts encourage the unwashed masses to purchase said subscription if they don’t have one.

          As you can see from my post, market reversals have been great for spy puts and calls (third time in a row I have made 50% plus from the over bought/sold).

          My opinion is that the fly blog posts (with his buy/sells) should hit the PPT paid membership area first for perhaps 10 minutes and then be released to the general public to provide an inside edge on new positions.

          The posting was an attempt to solicit a response and opinion on timing for positioning on the down side, but all I learned was that your pimp hand is strong.

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          • Po Pimp

            Is all good. If you notice Mr. Fly is pretty good at informing the proletariat about the score. I didn’t mean to come across as such a dick. My opinion (and opinion only), we should let Fly disclose the scores when he thinks the time is appropriate.

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  13. xxxHuggieBearxxx
    xxxHuggieBearxxx

    Greece downgrade? No problem mon! Buy dem stocks, get dem while they’re reallll hawt.

    They are threatening to turn this into a blow the fucking tops off explosive melt up into the mid-1100s. WTF, there have got to be some shorts out there getting absolutely ripped.

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  14. Walter

    I am like 60% cash, 35-40% long and a small touch of VXX. Not diving into hedges just yet, will probably wait ot follow Fly on any more VXX or FAZ.

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    • xxxHuggieBearxxx
      xxxHuggieBearxxx

      I just picked up a touch of VXX….and sold some calls on my positions. So i can take advantage of a bit more upside this week, but have decent downside protection.

      I will short between 1130-1150 if she rockets up to there.

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      • xxxHuggieBearxxx
        xxxHuggieBearxxx

        And I am aware that I am probably early, but i’m choosing that over being possibly late. Low risk tolerance at the moment…

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        • Walter

          Yah. I am a lot more comfortable selling longs early than buying shorts early. Working to restrain myself.

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  15. Skeptical

    ATPG is ripping?

    The ticker you bought at 13?

    Hooray! Only down 20% now.

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  16. pistilstamen

    Agree…long VXX and SDS as of 2pm with vigor.

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  17. panamaorange

    Why trust New york/California bonds over European bonds at this point?Europe panic is 7 months old. USA state panic is just starting. I don’t care what news comes out of europe at this point. New york and California are about to go “full john carpenter” on bond holders.

    http://www.youtube.com/watch?v=MWbFni6_25Y&feature=fvw

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  18. george

    While we watch this market flop around these guys are skiing down Denali. http://www.wildsnow.com/

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  19. YMula

    we will se this week

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  20. Mr. Cain Thaler
    Mr. Cain Thaler

    The Greeks are FAZtastic!

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  21. peter

    hilarious, everybody can see tomorrow might be down but coming 2 weeks is up.

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  22. Mr. Cain Thaler
    Mr. Cain Thaler

    Could it be another late day melt up?

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  23. tradingnymph

    you notice Copper couldn’t hold 3 even with Shanghai on Vacation.

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  24. Doc

    Volume has been awful on this bounce.

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  25. 0x7

    Was that a retest of the 200 day on SPY?

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  26. Mr. Cain Thaler
    Mr. Cain Thaler

    Quick, I have the FAZmobile! Everybody in…

    (Tires Squealing)

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  27. TMoe

    Shorting SPY here

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  28. TMoe

    Short BAC

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