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
23,428 Blog Posts

Bears Are Gonna Get Curb Stomped Tomorrow

This was a classic bear trap day. They threw out some divergences, made some shit go lower, made some other shit that wasn’t supposed to go lower go higher — and BAM! a fresh crop of bearish fucktards were born.

I’m thoroughly convinced that this part of the simulation is based purely on random fun. Some Wizard of Oz character behind the curtain at Goldman fucking with prices just to ensnare some people and ruin them for sport. It’s easy to get caught up in your own shit and think ‘oh, shit, I was put on this earth because I am special and all I have to do is work real hard and I’ll get rich too.’

WRONG. Take it from someone who’s made and lost fortunes — it doesn’t work that way. If you’re reading this trying to figure out the tape — you’re a scrap guy — someone trying to eat scraps and crumbs, trying to make it. The fastest way to not make it is to think you’re better than everyone else. The easiest way to make it is spending less, saving more, and investing for the long haul. Sounds easy — right? Try getting married, having kids, and getting lured into big ass homes and cars. Next thing you know your burn rate is thru the roof and you’re scratching your balls wondering how you just blew a million dollars on groceries the past decade.

I can teach you this shit for free — but you have to show an interest. By free, I mean $59 per mo with an Exodus subscription. The fuck you think makes the site run — dirt and good will?

iBankCoin is a fucking institution. I started this place with a bunch of people and I’m the only one left. Everyone left me but you — the unwashed reader. I don’t get along with people and it’s better this way.

If you want to learn a little bit about my past fortunes made and lost — I wrote about it so cop the books. Trust me, I can write screenplays out of all the shit I’ve seen. I’m on page 350 of 700 of a new book I’m writing now about the 2008 financial crisis — showcasing my blogs here and the comments section. You might not realize it now, but the shit we’ve done here, you and I both, is important. We’re documenting these events in real time — giving live reactions to the shit out there. I realize the comments section isn’t active here anymore — but that’s because everyone is talking in Exodus. Before we had an active chat room in Exodus — people would comment more on the free site. (I’m not fucking linking to the premium service each time. It auto links programmatically).

Fuck, I forgot what this blog was supposed to be about.

I bought two stocks into the bell. My gut feeling is markets will crash HIGHER tomorrow — fucking all of you Zerohedgers into never-ending glory holes.

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8 comments

  1. seaturtle

    Agree. Bought a nice chunk Qs at the close. Carrying my $LABU overnight.

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  2. acehood

    When’s the 2008 book going to be done, pal?

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  3. it is showtime
    it is showtime

    Bought back LABD today.

    Thanks for the blowoff top!

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  4. numbersgame

    Market assumptions:
    1) The trade war is ending
    https://www.cnbc.com/2019/05/13/trump-carries-out-tariff-trade-wars-with-china-eu-canada-and-mexico.html
    https://www.nytimes.com/2019/05/31/business/trump-india-trade.html
    2) S&P growth will continue without new econmic stimulus
    3) Long-maturity Treasury rates are at thier lowest rates during the Trump Presidency

    and finally:
    4) The FED will lower rates while markets are at ATHs

    This last one is a double-edged sword: if markets get what they want, it will signal that the economy is much weaker than it should be (considering how low interest rates alread are). Also, the expectation is a cut, so that leaves symetric risks: the market will plunge without a rate cut, and praobbly not do much (maybe even sell the econmic forecast news) if they do get a cut. I would not want to be holding stocks 3 weeks from now.

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    • numbersgame

      opps, meant “asymetric risks”

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      • numbersgame

        or “asymmetric risks,” if you can’t understand misspelllled words

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  5. snoozemr

    on the topic of those who made and lost fortunes – i’m up visiting family in ny this weekend and staying at the sherry-netherland, where the greatest ever met his demise.

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  6. omfgitsjd

    On June 30, according to a cryptocurrency trader, a single investor on Bitfinex placed a 20,000 BTC short order, betting more than $200 million that the bitcoin price would go down in the near term. This spurred another barrage of selling on July 1,

    That could mean a good opportunity to get in on a short squeeze. Maybe.

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