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
19,618 Blog Posts

About the Markets and Fridays

Good morning lads. Don’t drink that coffee too fast, otherwise you might burn your lips off.

Trump is out talking shit again about trading deals without proof. Futures are higher, but very soon will be lower.

“It’s happening, it’s happening fast and I think things probably are going to happen with China fast because I cannot imagine that they can be thrilled with thousands of companies leaving their shores for other places,” Trump said during remarks at the White House, providing no evidence of such an Exodus.

When markets break down and have a hard time gaining upwards steam, they fail often and rarely, if ever, will they ascend on Fridays. Hence the phrase applies here “markets do not bottom on Fridays.” You might not believe it now — but you will by this afternoon.

The big story today isn’t about stocks — but cryptos (dot dot dot) surging higher. My ELF coin is up 21% and I couldn’t be more pleased. Truth is, total market cap for all ICOs is only $250m, still down $500m from the highs. I think once BTC breaks $10,000, we will begin to see the light at the end of this very dark tunnel — which is “new all time highs” ahead.

I’m here afflicted by allergies, allergic to the earth and the air, barreling into my birthday — which is tomorrow. I’ll be turning 43, but I look and feel 100. Something about turning 40 sucks the life out of you — and it has only gotten worse in recent years. Part of the reason why I decided to move from here is to change things up a bit — perhaps find a place to live that brings me comfort and peace. We’ll see about that. For now, prepping to sell the house has been hell on earth.

Cheers to better times and always remember — markets do not bottom on Fridays.

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10 comments

  1. mad marsupial

    Happy Birthday! Maybe you can find some Dalmore 62, Enjoy. Trump talking shit is redundant. He even retweeted a doctored video of Pelosi. Maybe somebody should tell him its fake news.

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  2. fidel cash grow
    fidel cash grow

    Happy Birthday Fly. Something to check out – the Wim Hof Method. Have been practicing it since early this year and – while I can’t say for sure if there’s a connection – haven’t been sick in 2019. Nor have I had any symptoms from my allergies. If for nothing else, I take pride in now being able to hold my breath for 3 and a half minutes and withstand freezing cold water like nobody’s business

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  3. ericbakerbruce
    ericbakerbruce

    I like Faro Technologies. New CEO Burger has a history of of coming in and turning things around for an eventual sale. It’s not a trade it’s a three year hold. Check out his last stint at Electro Scientific.

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  4. juice

    ditto on the HB mañana herr Flea!

    however, this Friday is not equal to other Fridays, since it comes before a national holiday & the powers that be want us to be fat, drunk, happy and feeling like we’re rich in order to spend spend spend and keep that economy going over a holiday weekend

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  5. flyleech

    Dow it goes.
    Someone should sell T-shirts that say: “Fly said this would happen”.

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  6. chumpdaddy

    40 ? Nearing possible mid life crisis which in Chinese means “dangerous second chance.” Pretty soon every fruit fly you see will look like an angel from heaven.

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  7. og

    Trump will not let the market go down. His re-election is at stake.

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  8. acehood

    Comfort and peace are overrated. Content animals make easy prey.

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  9. ferd

    Changing locations is a fine idea. But I hope that you’ve talked to some transplants from the northeast to the south before moving there. Did you know for example that god wrote both the old and new testaments and that there are no conflicts in any of his writings?

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  10. mx2101

    Fly, a change of scenery is a good thing. Best wishes to everyone here.

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