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
20,991 Blog Posts

A Fresh Start

I’m very ritualistic about the new year and make it a point to hit the ground running with winning picks. Truth is, I’ve taken all of my research and put it on the back burner until this fiscal cliff shit is over with. I ended up 11% for 2012, falling flat on my face in December, shedding almost 10% for the month. Had the year ended in November, I’d be a champion today. Instead, I’m a fucktard with an underperforming investment track record.

The gains that I enjoyed from 2006-2010 can no longer be referenced after underperforming the tape for two consecutive years (I was +6% in 2011). I don’t make New Year’s resolutions; I’ll leave that to the fat asses. But 2013 is a do or die year for me, in a variety of ways.

First, I need to establish a very strong pimp hand early, in order to shut people up. That means I need to be right and often, preferably in grandiose fashion. After I make my gains, I need to keep them by utilizing a proprietary asset diversification plan that I concocted many years ago. I have no choice but to implement such a plan, since I can no longer trust my animalistic instincts to preserve wealth any longer.

Following yesterday’s romp in the markets, we are very close to overbought territory, not exactly an ideal time to invest money. However, a lot depends on the retarded deal coming out from Washington, which will most likely take the path of least pain. Meaning: prepare to see the dollar drop, precious metals rise and stocks do well.

I’m so fucking pessimistic right now I’ve chewed myself to the other side to optimistic. If the market wants higher, I’m not going to fight it.

NOTE: Since MAXIMUS had to resign from the interim tabbed blogger position, due to family concerns, Elizamae was appointed interim interim tabbed blogger.

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34 comments

  1. JTU

    I squeaked out an 11.47% gain for 2012. I kicked your ass! (kidding)
    I am currrently 37% cash.
    I bought a small position in TZA near the close on Monday.
    I hope we continue the upward trend so that I can unload some more stocks but I can’t help feel that no matter what they decide to do about the fiscal cliff, it will likely be a disappointment. Also with the debt ceiling to deal with in another couple of months I can’t see how all this is going to be positive for the markets.
    I’m looking for a pullback to redeploy some cash.

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    • Po Pimp

      I’m looking for a pullback to redeploy some cash.

      May tends to work well for this purpose. Every year I say this is the year the “sell in May” thesis ends. Every year I am wrong.

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  2. buylo

    you need to trade based on insider info again to get those 50-60% gains, so call Boehner already, etc.

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    • The Fly

      Maybe I should run for congress

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      • Heaterman

        Seriously………think that through before you do something “full retard”.

        I believe you are the type that would not suffer fools kindly.

        I can vividly imagine the headlines screaming about mass murder in the legislature.

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      • Clock

        Sounds good to me. Congressman Fly, and then, PRESIDENT Fly. It has that certain ring to it. 🙂

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  3. chuck bennett

    Happy New Years to all.

    regards

    Chuck Bennett

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  4. nobody

    Why the rest of stockwits trader predict a up year for 2013 while the Fly predict snp as 1100?

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    • Mr. Partridge

      Predictions are not serious, I hope you realize that…
      Statistically speaking 9 out of 10 traders lose money… what does it tell you about ST predictions?
      Being there is a form of social media entertainment, nothing more than that… would never take it seriously and trade of that.

      Good post Dr… I have only one resolution for myself though – trade less, make more… 2012 was awesome for me…

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      • Freddie the Frog

        Welcome to 2013, money will be made and money will be printed. Get it while it lasts.

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    • The Fly

      I am not a Stocktwits trader.

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      • nobody

        sorry, it’s twitter. Fly is not only one predict lower snp but you are the most pessimistic.

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  5. Flicker

    You will have a very good 2013 FLY. You will find the vehicle. As you know, it takes just one monster pick to change your fortunes. Good Luck!

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  6. JTU

    Nothing is Certain Except for More Debt and Taxes!

    http://online.wsj.com/article/SB10001424127887323320404578215873697800166.html?mod=hp_opinion

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  7. StAug

    The way to attain truly superior long-term returns is to grind it out until you’re up 30 or 40 percent, and then if you have the conviction, go for a 100 percent year. If you can put together a few near-100 percent years and avoid down years, then you can achieve really outstanding long-term returns.

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    • Ohthe BOMB

      You are fuckin’ NUTS.

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      • StAug

        Joke’s on you BOMB – dumbass –
        that’s a direct quote from Stan Druckenmiller in Market Wizards – figured everyone knew it and didn’t need attribution- you haven’t read enough, obviously – turn off your monitor, put down your keyboard and go to the library for a couple years

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  8. JTU

    The House passes the bill!

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  9. figesmalls

    The heck with all of that, please tell us how little Max is progressing. THAT is what’s most important! The rest is commentary.

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  10. theedge111

    Dollar getting pummeled on the news. Not a surprise. Metals have turned around.

    Kind of a muted response on the ES though which is a surprise to me. Sell on the news???

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  11. Frog

    Futures are closed until f or 6 a.m.

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  12. The Pirate

    Does anyone care about our country or is everyone not just here at IBC, but across the wall street complex ONLY concerned with squeezing out that last cent of coin from the market? Look, we have a SERIOUS debt problem in the USA – SERIOUS! We can NOT continue throwing away money for people who prefer to get Obama phones, for more F-16’s and Abrams tanks for the Muslim Brotherhood run Egypt, for bridges to nowhere, for a socialist Obamacare etc… This insanity MUST stop.

    Yes it might mean we will have to endure a little pain, maybe heaven forbid the market will have to dip for a while – GET OVER IT! Our grandfathers didn’t storm the beaches on D-Day just so we could selfishly and slovenly run our nation into the ground by rolling out the printing presses and ruining the economy forever just for a temporary gain! I’m so sick of the whining…cocksuckers who can’t think beyond their quarterly returns in the market. Hey fuckfaces! If we try to squeeze out every last gain just to temporarily make a little more money at the cost of permanently ruining the country, guess what? All the money you make will become worthless anyhow.

    Tell your congressmen to stop giving tens of billions a year to what our shitty state department is in love with under Obama – Muslim run dictatorships around the world (who get more than 10 times what Israel gets by the way – and that should be stopped too – no more foreign aid for ANYONE, let’s get some American aid!). Tell congress to pressure Obama to stop the Fed printing, tell them to stop the handouts to those who hate America, including some of the ghetto minded people who are playing the system (not those who are legitimately in need but those who play the system – and there are LOTS of em), stop the socialist take over of America now – before it’s too late. Going over the fiscal cliff to reign in reckless spending is NOT the worst thing that could happen to America – making lousy deals IS.

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    • surplusdroids

      What about corporate welfare?

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      • The Pirate

        corporate welfare? fuck them too! Good luck getting that legislation passed in congress. Our country is too filled with fat, stupid lazy morons watching TV to even understand any of this though, let alone overcopme the corporate lobbyists, the big oil lobbyosts, the Saudi lobbyists the union lobbyists etc.

        My friends don’t be fooled by the ‘bounce’ in the market futures this morning, we are FUCKED. Bohner did NOT ‘rise above’ he caved in to the big government, Obama Socialists and we are screwed.

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  13. mad_scientist

    Watch, the market is going to surge now and for the rest of this month and everyone will be lamenting “why the fuck did I sell because of fiscal cliff!”

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  14. Airborne

    Dear Sir Fly, I advise you to decide whether you want to make big dick gains or fuck around on the internet. Although chumps would miss you I assume you would continue with your gentlemen friends over at iBankkcoin.

    In all seriousness, you have helped me do better since your 1st year and I wish you all the best for this year.

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  15. JTU

    Looks like the shorts are going to have their balls handed to them on a platter this morning. I still say we get a reversal today or tomorrow. We’ll see.

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  16. Mr. Partridge

    Bear steaks and eggs for breakfast

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  17. francesco

    no bloodbath futures ( qqq es whatever ) anyhow I’m absolutely speechless on how mr fly has been sucked-completely-in in the cliff comedy lately .
    biggest surprise ever from him .

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    • francesco

      ( I’m all in from the cliff comody dip .. , the craken is released , up nicely .. and i will sell half of my hodlings after the open )

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