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
23,433 Blog Posts

The Stage is Set

“The Fly” was besieged all day at his local Lexus dealership, where the greasy mechanics tried to trick him into fixing shit that didn’t need to be fixed.

I see the market rebounded off the lows, making my early sales of VXX and purchases of FLS and TNA correct. However, I am not so sure the market is ready to suck its own cock, ahead of the July 4th weekend. Tomorrow’s numbers are meaningless. The market is being controlled by insidious robots, who need a little greasing.

It is my belief, mind you, that within 5 trading days from now the market will be 3-5% higher. It might not happen tomorrow or early next week. However, rest assured, it will happen.

Having said that, I ended today’s session with a 65% cash position.

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

60 comments

  1. Quint

    It’s the Johnson rod! Have to get the car fixed before you go on vacation?

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    • The Fly

      actually, I brought it in for a navigation system update and inspection. Lo and behold, the fuck faces find my drum brake rotors to be rusted. Fucking liars.

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      • Dr. Evo

        Drum brakes on a Lexus???

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      • eisensteisn

        Drum brake rotors? You can’t be serious.

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      • A Monkey with a Toy-Yoda
        A Monkey with a Toy-Yoda

        Does the engine on your Lexus stall while your cruising down the highway? Fucking Toy-Yoda makes shit!

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      • 401ker

        You know this, but for all the other posts….There is a good chance the disks were rusted. It can happen very quickly if they get wet and sit. Have your car washed lately? It comes right off when you use them. Sometimes the rear disk brakes have a drum component for the emergency brake, but it definitely sounds like they were trying to milk you. If you do need to replace them, it would cost about $100 if you do it yourself versus what? $1200 at the dealership?

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  2. goldwall

    the ppt comes through again!

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  3. GETGroup

    Great song, too bad the video is blocked in my country…PoS country…

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  4. BernieCornfeld
    BernieCornfeld

    @ Quint, sounds like Chevy Chase in Vacation all over again!

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    • Caffeinated

      Ha ! The family Truckster. My dad use to own something similar to that.

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    • Quint

      Indeud! Now, time for a cocktail.

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  5. TheV.King

    That’s a good song…here’s something that will fuck up your head…
    http://www.youtube.com/watch#!v=RO10s_HK6d0&feature=fvw

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  6. Septic Tanker

    You’re killin me over here Le Fly……..”However, I am not so sure the market is ready to suck its own cock, ahead of the July 4th weekend.” HAHAHAHAHAHAHAHHAHAHAHAAH

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  7. Lexus Technician

    Sir, youir unit is ready. We use copious amounts of degreaser and we wear white gloves for a test drive. Drive safely and the $500 charge is a mere pittance for someone of your ilk.

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  8. Video Master

    No, this video fucks up your head.

    http://www.youtube.com/watch?v=gWOzUzJd6wM

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  9. eisensteisn

    Having said shat

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  10. YMula

    DROP the TNA nuke on them MTF trying to squezze MY MULA! end the week 10k late

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  11. Le Fly

    My lexus is out of control fast, literally.

    Rotors rust dumbass

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  12. howie2092

    Your Lex has small drum brakes inside the hub of the rear disc brakes. The disc brakes are for stopping, the drum brakes are your parking brake.

    The disc/drum is made of uncoated steel, and typically rusts as a matter of course. Nothing to worry about unless they wear thin or warp.

    My wife LOVES her Lex, probably more than me.

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  13. Le Fly

    I know, which is why i told the mechanic to fuck himself

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    • howie2092

      Outstanding.

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    • alphadawgg

      ….did you also tell him to use foreplay and suck his own cock as well?….now THAT would have been really funny.

      …or save it for next time when he tells you the flux capacitor on the Lex is “on the fritz” (an over-used technical term).

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    • dunkin

      Maybe ask Sam Fries to visit him.
      http://ibankcoin.com/flyblog/2010/05/02/ibc-presents-fly-hires-a-new-rep/

      On the financial front, I think housing will be bottoming shortly,
      just another year or 3.

      Foreclosures:
      formerly “normal market: 1-2% of sales
      2007 6% of sales
      2008 23%
      2009 29%
      1stQtr 2010 31%
      Nevada 64%

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  14. Skeptical

    i liked it better when you were bearish.

    this PPT at the lows shit is going to get blown out of the water soon.

    day of reckoning is here

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  15. MarshalN

    Some weird shit going on today with the EUR rocketing higher and oil tanking, not to mention gold also dropping like a rock.

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    • mjb

      getting ready for attacking iran… slam down oil and gold, always a tell

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    • arch

      there is a reason for those events

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    • alphadawgg

      Deflationary depression concerns rocking gold.

      Dollar down, gold should have been up—normally…….

      except for the fact that we are in a bizarro market now.

      Copy Costanza, if you know what I mean.

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  16. arch

    are you fuckers all done trying to shake me out

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    • Bullish

      I love that post… this should be Arch’s new tag line.

      LOL – hope they are done, I took my hedges off too early

      I got my F-ASs kicked in the last two days

      No worries – lets see some job growth tomorrow

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      • alphadawgg

        Yeah, I wouldn’t put it past Maobama’s minions to fuck with the jobs numbers—-for the good of the people, of course.

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        • arch

          90% of the people are working ..an unknown % to me ,are collecting unemployment…everybody is buying cars and high tech toys..BP is creating jobs..savings are up..i could go on & on , but im not worthy of early evening commentary , for i have sinned..

          my comments on gold will go unposted

          therefore i will ban myself from these sacred grounds for a total of 1 hr

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          • mrkcbill

            We lost 8.5 million jobs…..4X more than the last 4 recessions combined.
            Whats going to bring us out of it? Housing? War? Gulf Clean Up?
            90% of the working are taking a real HairCut on Real Estate….401k….having to support relatives
            and kids in the basement. What happens when we dip prior to Tarp II? Grampy is going to say to Hell with it and capitulate….FDIC is fucked sideways….Nobody in private sector has any WOOD……. CRE ….wait till a SHLD goes dark….I live in flyover Country….we didn’t even get drunk at the party……I drive down the main drag in the most prominent area of town and it is gutted like a fish….empty dealerships…empty car wash…empty malls…40 year old Hotel closed Tues….failed developments …eye opener.

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          • get outa town

            you’re in Detroit?
            sell for whatever you can & get outa there – before bad to worse

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          • MOOBER

            So you’re telling me there’s a chance.

            http://www.youtube.com/watch?v=KX5jNnDMfxA

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          • Teahouse On The Tracks
            Teahouse On The Tracks

            mrkcbill=DevilDog ????

            What’s with the Viper … Fly’s Lexus brake story scare you into the vented rotors of a Dodge?

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      • Subcomandante Braveflaps

        I just saw a unicorn – hope that helps.

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  17. Bullish

    Considering the last few months the president and his crew have tried to pump up the excitement for the jobs report ahead of time… Only to be sadly disappointed.

    Since I have not heard a peep out of them this week, we either get a Costanza style jobs report or it’s so bad they won’t even attempt to put lipstick on this pig.

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  18. Caffeinated

    Proverbial LOL at arch for banning himself, if even for 1-hour. A true gentleman.

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  19. Slim Shady

    Drive a ford or a chevy you will live longer.

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  20. Cascadian

    People are taxed for working, and paid for not working. You can get a lot of shit done around your house for a few $20 bills. Fuckers getting unemployment checks should not count as unemployed.

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    • dunkin

      yes they should because many aren’t producing anything, just consuming

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  21. arch

    correct me if im wrong but unemployment compensation is taxable…not sure if they are counted in the 90%..which would take that down to 80%

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  22. ottnott

    Your rotors are rusted?

    Idiot. Didn’t have to happen, and it is NOT gonna happen to me, I paid my dealer $800 to coat those babies with iron oxide before I even drove the car off the lot.

    Metal oxide, baby. That’s what I’ve got protecting my rotors.

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    • 401ker

      What the hell? iron oxide = rust

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    • dunkin

      coat them with oil, keeps the moisture out, [sic] wal-ah, no rust (no idea how to spell that, so I’m actin like I mis-spelled it purposely)
      your stopping distance may increace a bit though.

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  23. Slim Shady

    It reached its low point on July 8, 1932 when the Dow Jones Industrial Average closed at 41.22.

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  24. Goldie

    Long some SSO with a stop at today’s low.. I think we bounce a little here. CREE looks good here too..

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  25. Le Fly

    When u rust proof your car, it speeds up rusting, moron.

    That is a scam.

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    • The_Real_Hmmm

      At least you don’t have a faulty engine like 270,000 other “lower owners.” I love how these things happen when America needs a resurgence in their auto industry.

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  26. Unclean Bear Weiner
    Unclean Bear Weiner

    Get ready to get some!!!!

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  27. Bond

    taking the hedge fund gold/euro trade unwind as a gift and buying gold baby…..gold loves deflation……this monster market will hit a reversal point long exactly as Lord Fly has generously mentioned……..but it will be short lived and the downside will be the place to be for the summer…

    bonus prediction…..Uruguay/Nadal/Serena win it all

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  28. Walter

    I used to own TM. Hehe.

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