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
23,474 Blog Posts

It’s Now a SHOMP Party

You cannot debate with a sublime harmony of mathematical precision. The PPT registered its 2nd highest score of all time yesterday.

In case you are wondering, no, I did not sell yet. I have my own reasons. Stay tuned.

UPDATE: I sold out of CENX and AKS

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27 comments

  1. john

    Shorted the entire basic materials sector. 1% equity at risk. Looking for meltdown in afternoon rally especially in energy. Short-term trade. Looking to close out in a week tops.

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    • john

      Closed short for neglible profit. I’m done for the day. I am not confident to bull case or bear. Best case is to sit with case and wait for bargains.

      I never made any serious money as a bear.

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    • Po Pimp

      You held for one hour and ten minutes. That’s conviction.

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  2. clegger_2000

    Fly is this one of your websites?

    http://www.theflyonthewall.com/splashPage.php?action=main&arg=A

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  3. Mick

    looks like whatever your reasons that selling was the way to go… trust your system

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  4. panamaorange

    EEM emerging markets would have to drop 4% to take out recent lows. And, until emerging markets break those lows, the materials XLB and industrials XLI have very chance of making new lows for the year.

    The XLF banks are forming an “Eve and Adam” double bottom on 30 and 60 minute charts, with last week’s lows.

    Yes, that’s a thing.
    Has about a 66% statistical win rate, according to bulkowski

    http://thepatternsite.com/eadb.html

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  5. TraderCaddy

    Shomped and (Jim) Tressel(ed) all at once.

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  6. xxxHuggieBearxxx
    xxxHuggieBearxxx

    I TOLE YOU AND I TOLE YOU

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  7. Maximus

    i just shomped myself….it is possible

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    • TraderCaddy

      Are you sure it was a Shomp and not a Lewinsky?

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      • Maximus

        hmm perhaps it was that dirty rusty trombone i was playing…

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  8. A Monkey with a Knack for Power Shitting Like Archie Bunker
    A Monkey with a Knack for Power Shitting Like Archie Bunker

    PREDICTION: Market will close flat for the day.

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    • Mick

      prediction: you have no clue

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      • A Monkey with an Andrew McCutchen Bobble Head for a Head
        A Monkey with an Andrew McCutchen Bobble Head for a Head

        And you do? You lemmings would buy a box of wet shit if the ppt told ya so.

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  9. theedge111

    ME thinks the fly thinks the dollar is about to get toasted as a result of the inevitability of a QE3 and has gone long commods and energy.

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  10. Apocalypse Now
    Apocalypse Now

    Ben, needs more cowbell.

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  11. MX2101

    Stomp! party for SHOMP

    http://www.youtube.com/watch?v=2EvWkUuALGg

    “promotional copy” no less…

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  12. A Monkey with an Andrew McCutchen Bobble Head for a Head
    A Monkey with an Andrew McCutchen Bobble Head for a Head

    Hey Mr Fly, the Mets lost to the Pittsburgh Pirates last night. MWAHAHAHAHAHA! 1st time the Bucs won in City Field.

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  13. Johnny2time

    UUP looks good right here as a bottom for a new upward trend channel.

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    • TraderCaddy

      That UUP really sucks at tax time. I believe it is taxed as a Partnership so you will get a K-1 and it will probably be revised a couple of times through June and July.
      Why they don’t set those up as Grantor Trusts (or whatever it is called) or a regular ETF is beyond me.
      I would just short FXE.
      Much easier at tax time.

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      • Johnny2time

        I prefer options in these types of trades but yeah short FXE is just as good.

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  14. Apocalypse Now
    Apocalypse Now

    Newman just needs a helmet with bull horns, oh the humanity:

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

    They juiced the market yesterday so they could buy puts on the cheap for the slaughter today that they can blame on Congress for not raising the debt ceiling. It may also be a test to check downside pressure, as Ben and Brian have not appeared to support the market. Many of those unusual down spikes yesterday I saw on SPY could have been algorithm tests to check the amount of buys out there (thin market with big drops and air pockets) in preparation for shorting.

    I am concerned about lighter POMO days in the future but we have rallied without big POMO days.

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