I bet you thought you’d come to iBankCoin this morning and “that rascal”, Le Fly, would be having conniption fits over the S&P futures. I imagine you thought I’d be plotting acts of cannibalism against my fellow man, tossing empty coffee mugs onto my neighbors front lawn, cordially asking the wife to “move out the way, atta girl.” But you’d be wrong. As a point in fact, today’s melt up means absolutely nothing to me. If you could see me now, I have zero emotions running through my body. I am not scared of Ebola, happy about stocks, or even mad at the world for spinning.
I graciously accept today’s gifts from Mother Market and tip my hat to her. If she chooses to rescind said gifts, I understand and will not take it personal.
I posted 11 blogs yesterday and over a hundred tweets from my scabrous account there, all done spontaneously like a loose jawed bedlamite.
As for my fellow friends who happen to be long VIX related products, I wish you the best of luck. This market is hard enough. You don’t need to come here and be taunted for genetical inadequacies, pertaining to intelligence quotient, all because of an investment choice.
We all are free to decide where our hard earned dollars should be placed. Most people hate the stock market and opt for real estate or bonds instead. What we do here, each and every day, is hard and requires discipline and healthy habits. It’s important to exercise, eat well, and try to laugh at set-backs, instead of stressing out over them. Otherwise, you will not last very long in this business.
In short, the market looks to want higher this morning and I am just the man to like it that way. I will not sell into the rally, nor buy. Rather, I am going to read a book, listen to some Beethoven, and relax. After all, it’s been a crazy weak and I deserve a little peace and quiet.
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would you deem VXX puts that were purchased on wednesday as acceptable?
I am not here to pass judgement.
Currently reading, A Thousand Days: John F. Kennedy In The White House. A wonderful piece.
chewy!!! were you been? did you get shaken down and spend 6 months in county or something!?
Something like that 😉
I am reading Dark Genius of Wall Street. The story of Jay Gould.
Check out the history of “Boss” Tweed in NY as well…
good one
The good news is we are now exporting Ebola to central america….Our EBOLA trade balance will soon be running a surplus.
I am reading “The Obolamites: Last Days of the New Emperor”….i am pretty sure i know how it ends but reading it anyway.
A tip of the top hat to you Dr. Fly for being able to listen to Ludwig v. I believe classical music was nothing more than the pop music of it’s day with fewer artists to chose from. I think I will be down wit Rick Ross today, poof!
Beethoven is good, but Karajan’s a hack.
Karajan has almost as many sales as the Beetles. He is a legend.
Legendary hack. Furtwangler or Walter. Maybe Mengelberg was best.
The Fly’s music selection is not to be questioned, much less nitpicked. Cartoons and Cereal, Om Nashi Me, Fire Flame, and the superlative Blood Walk have all entered my regular rotation thanks to Him.
OK
Barrack Hussein Ebola sez:
If you like your stocks, you can keep your stocks. Period.
I am reading Zerohedge, the online blog paper, from the first screed to the last.
Dr. Fly – I’ve had a difficult time staying abreast of things lately. Has anyone (of substance) given you proper public credit for calling the Alibaba Top all year, since the beginning of the year? You truly do posses a doctorate in marketology in addition to the high-level blackbelts.
No one every gives me credit. I am nothing but shadows and dust.
I am rather substantial and think Fly believes that immodesty is unbecoming of a gentleman.
Thanks for the call on FMSA yesterday Cap’n Fly. Let’s hear it for the Cap’n fellas!!
(and fellettes)
I went long via FMSA option yesterday before the close thanks to you Sir Fly (tips hat), this morning I read this and we are higher:
http://globenewswire.com/news-release/2014/10/17/674116/10103133/en/Favorable-Permit-Ruling-Provides-Fairmount-Santrol-With-the-Option-to-Expand-Capacity-at-Its-Wedron-Illinois-Facility.html?f=22&fvtc=2&fvtv=1
Agreed! Also, if you ever have any major life event that might affect your emotions for a bit, probably best to just go cash and take a break from trading for a week or two; even if you think you’re all there.
Cover pic. Stud.
wtf, who is this guy?
The late, great Sir Patrick Alfred Caldwell-Moore CBE, FRS, FRAS.
Cap’n! Look at FMSA lads! We are NOT worthy!
Took my profit, thanks again! Arrrr.
HOLDDDDDDDD!
Bedlamites – another addition to my verbiage. Thank you good sir (tip of hat)
I believe it was Sethster talking about his UVXY long in his IRA. He’s long around 30, thought he had the best trade of the year. He thought it would make him a very rich man. UVXY might be under 30 in the next 30 minutes. Never hold VIX instruments long term.
The only thing I know is that I had to go out and pick up my garbage and my neighbor’s garbage that was in my woods thanks to a mother f**** bear.
My neighbor (and the bear) apparently have this thing for Dove bars.
Hilarious. I remember a great TraderCaddy moment when he could not see his keyboard and bought the wrong stock but made a boat load of money.
Ha!
Good memory.
It was pre cataract surgery.
It was some small bank in La. that traded something like 10,000 shares a day and I bought a bunch for a day trade (a similar stock symbol) and of course when I saw the confirmation I didn’t want to sell because the spread was ridiculous.
I sweated and sold it off in pieces.
Holdddddddddddddddddd (no Braveheart)
Dr. Fly, tip of the hat to you in not rubbing it in any of the bears’ faces; good karma is what we need. Any good suggested reading material relating to fixed income/bond markets and how to interpret it impacting equity markets? Thank you ahead of time.
Occasionally, I print a blog by Le Fly and let it float upon my desk where it provides me with wise reminders. One from August that was taped to the bottom of my screen so it was always front and center was “Brace Yourselves”. A master piece.
http://ibankcoin.com/flyblog/2014/08/18/brace-yourselves-2/
Today’s blog provides this truth which will be allowed to roam my desk for eternity.
“What we do here, each and every day, is hard and requires discipline and healthy habits. It’s important to exercise, eat well, and try to laugh at set-backs, instead of stressing out over them. Otherwise, you will not last very long in this business.”
Good Beethoven song to represent the gradual grind to dominance via the stock market….
Although the last several weeks the market has felt like a “rage over a lost penny” (also Beethoven)
http://youtu.be/zQn4Qfy_Bek
Cap’n, it’s trading at 9.06 rt now. Are you still negative on CLF over the next few weeks?
Oh no. NYT Jim Stewart coming on CNBC, time to change the channel…. Arrrrr.
I’m hearing VIX crosses ($VIX v. $VIXY) can act as “Vol Crosses” (viz Golden Cross).
Also. M. LeFly. I see, now, BEHOLD, the IBankCoin easement somewhere near Bellagio & Cosmopolitan on Flamingo & Strip cross. Anchored, by of course, the feet of $CZR.
Perhaps 2014’s one step closer to bringing Wallstreet into Vegas.
Sounds like Chess might take the wheel thereto.