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
19,896 Blog Posts

I TOLD YOU MONGRELS TO BUY GOLD

You get me angry, always trying to doubt the Blog Father and his divine powers. No one was up on gold before me, except for that fucker Schiff. I told you, I told yoooooo to get involved with dat.

Gold is breaking out. Commodities look fine. Things are tenuous with markets, but also fine.

I like commodities here.

I have already booked my EVER overnighter and now I took two more trades. Nothing can stop me, not even gravity itself.

If you enjoy the content at iBankCoin, please follow us on Twitter

25 comments

  1. spaceman

    Fly you have great attitude today buy GOLD buy SILVER and FREE EXODUS!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. numbersgame

    Fly, which do you think will do better during the next 24 months: gold or 30-yr bonds? I think I know your answer, but just want to get it on the record.

    For the record, gold has a ceiling that is close, but compared to other developed economis, USTs have a lot more room to run.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. ferd

    closed russell short here

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. ferd

    Numbers as a dinner guest: “Hostess, kindly get me a pen so that, I can record any comments that you make that may prove foolish-looking at some future date.”

    • 1
    • 0
    • 0 Deem this to be "Fake News"
    • numbersgame

      Not exactly. It’s more about whether I’m wrong, than if Fly is right. Also, everyone has biases. As I see it, all the risk is short-term for tresuries (don’t use leverage!), but if I’m missing something on Treasuries, I’d like to know. On the other hand, I don’t see how a low-infaltion environment favors gold. Seem like a mid-term technical play, but if there is a good reason to hold it longer, then I’d like to know

      Besides, I don’t think Fly has any risk of losing subscribers. Although I disagree with the risk/reward of a daily overnight-trade strategy, it is hard to argue with Fly’s success at it. Also, if there was no value to this blog, I wouldn’t read it. The main times I “check the history books” is when Fly switches 180° in a very short time frame or when we have a disagreement, such as on the vastly overused and misunderstood Sharpe ratio.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  5. rangersfan

    Didn’t realize that is the guy from billions

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. ericbakerbruce

    Jakegint was bullish on gold and silver 10 years ago moron.

    • 1
    • 2
    • 0 Deem this to be "Fake News"
    • numbersgame

      I was like, “Who’S Jakegint?”. Was surprised to see he had his own blog on IBC.
      http://ibankcoin.com/jakegint/

      He was bullish 10 years ago, but also *still bullish 7 years ago*. Rode the gold train right into the ground and then stopped posting in 2013 (likely when he had a margin call). Hopefully he’s back on his feet with a lesson learned.

      It’s better to follow a guy that changes his mind every 2 days than one that never does.

      • 2
      • 0
      • 0 Deem this to be "Fake News"
      • s.k.

        Well said. He mysteriously stopped posting when his QE hyperinflation call proved to be wrong and the PM complex cratered. At least Fly owns his bad calls.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
      • trumpmeister

        He messes up by buying bs etfs like NUGT, and then gets taken to the woodshed bc of the time decay. He would be highly profitable by buying GDX or WPM instead of these 2x 3x bs mobiles.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
      • ericbakerbruce

        Disagree. Cost basis for RGLD is $37 here. I’ve held for about 10 years….

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  7. omfgitsjd

    I bought ten krugerrands for $375 each in the early nineties. Kinda heavy, they are.

    On a retail note: I wonder why a JCPenny board member bought a million shares of JCP.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. moosh

    Awww shit, FLY going nuclear? I love nucular FLY. They are dirt cheap

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. moosh

    Thinking $NE put in a long term bottom here, as well. Thoughts?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. trumpmeister

    Fly talks about gold and silver like he’s s bull or anything. He just wants his short term chest bump pretending that he’s a genius.

    I have been bullish on GDX and WPM for the past 10-12 months accumulating shares at dirt cheap prices while Fly took undisclosed losses on 2x or 3x bs etf, garbage tech or oil stocks.

    Lol but carry on. The end target for GDX and WPM are significantly higher than current prices, like $60 for GDX and $80s-90s for WPM.

    Don’t be a loser by day trading like a dumbass and miss out on the next big move. Just accumulate shares at an obvious bull long term new established trend and go to some random blog like this one and indulge in the laughs and giggles

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • numbersgame

      You really think gold miners are any less volatile than a 3x ETF?

      I looked at the numbers for a few and did this thought experiment: Let’s say gold went up and their revenue went up 25%, while all expenses stayed the same. Would I want to own that miner? The answer was “No” for all the miners I looked at. The PEs are already priced for perfection.

      You can’t predict a doubling of a stock price just based on a chart. This is a pure momentum/technical/bubble play. You can’t own it without a good exit plan in case things don’t work out as you expected.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • trumpmeister

        Are you seriously asking me this question with fallacy?

        I’ll give you one reason why you stay away from 2x or 3x bs etfs: time decay

        As for owning GDX of WPM, try to familiarize yourself with the concepts of PE contraction vs PE expansion in term of valuation.

        Lastly, you’re an idiot.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
      • trumpmeister

        The main reason that you’re an idiot bc you think that 3x to 9x a stock is based on momentum trading.

        It has nothing to do with it. Your so called momentum trading pushing a stock to min 5x original price is a concept explained by idiot traders who don’t understand the concept of growth valuation which leads of market cap/sales or PE expansion from a depressed price based on old data.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • numbersgame

          The retort of stable geniuses: name calling. Pretty defensive from someone so confidant in their position.

          Did you even do any research? Here are the current PEs for the top 10 holdings:
          N/A
          N/A
          48
          156
          N/A
          N/A
          34
          90
          43
          39

          So many are still unprofitable during the time you held them while the other already have high PEs. Just how high do you think the PE will go?

          PE expansion (ie, momentum) is what took GDX to its present value.

          • 0
          • 0
          • 0 Deem this to be "Fake News"
          • trumpmeister

            Yup. I’m done talking with you. I gave you some homework to do in order to self-educate yourself and you come back with more bs. Nobody cares about PE. How do you know if the person if a dumbass or a moron in the investment world? When they start talking about PE ratio, like it’s a golden metric. Nobody uses that crap anymore. It’s still a valuable metric but the common idiot, namely you, uses it wrong with the wrong calculation. At the end of the day, I don’t care that much about you or your wallet to waste my time educating you.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
          • numbersgame

            I supose “revenue” (see my fisrt post) is another one of those metrics that mentioned that only dumbasses rely on.

            The last person I would take adive from is one that retorts to name-calling and/or walking away whenever someone questions their judgement. Maybe in time you will mature and figure out these lessons on your own.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
          • numbersgame

            BTW, the “P” in PE ratio stands for (stock) Price and the E stands for Earnings (per share).

            A high or “N/A” PE ratio means that investors have already priced in a substantial expectation for earnings increases. There is no logical reason for a PE above 40 to go higher, unless the earnings exceed the already high expectations.

            Usually stock price increases from PE expansions relate more to broader market moves when investors get bullish. It is hardly ever applied to individual stocks or sectors.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
  11. ferd

    Market stalled …needs a fresh Tweet.

    • 0
    • 0
    • 0 Deem this to be "Fake News"