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
23,431 Blog Posts

Markets In Limbo — Positioning for Wanton Depravity

I am 75% long now, an array of shit stocks based off the triple inverse feelings I have for stocks. I really and truly loathe the long trade now, which is why I am taking it. The notion we should quickly sell off and dissipate into clouds of dust seems both juvenile and simple to me. Wouldn’t it be crazier if we fucking RAMPED into the close. Most traders would hate it.

On the other side of this paradigm is my pride, little old me making a JACKASS out of myself in front of millions. Why, just yesterday I was calling for the apocalypse and a RETESTING of the lows. Today I sold my inverse ETFs and went long. Surely that sort of arrogance is deserving of a nice hard lashing across the face with a horse whip. I bet a whole bunch of you are waiting for Le Fly to fail, in order to make fun of him. Be honest.

That’s just too bad it’s never gonna happen, pal.

See there are two types of people in this world pal — people who fuck and people who watch. DO NOT FUCK WITH ME — I will snap your legs off like King Crab shells.

I have no fear, positioning in grandiloquent fashion — highly tethered to the emotions of the markets — long.

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36 comments

  1. desertfox

    I am positioned for Depraved Wantonness

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  2. indexjoe

    Feeling great

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  3. heckler

    WA state has NO SWABS. We aren’t even close to qualifying for Trump’s first gate let alone passing through it. You know what happens when people go back to work too early? Did you read about our largest national breakout at the pork plant yet?

    Every work place will be a fucking SLAUGHTERHOUSE

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    • numbersgame

      1 in 4 people tested in Sioux City have it, traced to the Smithfield plant there. The overall case laod is still small (<1500), but in an area of 190k people with asymptomatic transfer, I expect it to rise just as fast as the rate of testing.

      To open (Phase 1):
      1) You need full contact tracing for states with low numbers
      2) You need border controls with quarantines for people coming in (from other states) for 14 days or until their test results clear them.

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  4. alty

    I find it hard to rationalize opening up when we are still pumping out 30k cases and 2k deaths a day while sheltering in place for the last 3-4 weeks. I get that the data is questionable, but it’s not even questionable in an optimistic way.

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  5. itsgold

    Fed bucks for everyone

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  6. peaches

    DGAZ looked like free money this morning. I made a batch of chocolate chip cookies because quarantine. I am getting dope at baking cookies. I used the electric toaster oven so as to not use up any of the nat. gas supply and push prices up… and voila… it worked. nice to see some markets still work based on supply and demand.

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  7. edge

    No moves for me. Watching the froth.

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  8. antigua68

    …Short for Monday into the close. Like you always say” markets don’t bottom on Friday” “So let it be written..so let it be done”

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  9. Orson

    So what you are trying to say is, you have balls.

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  10. alty

    What if the markets were actually dirt cheap in January 2020 because of something we haven’t seen coming or properly understood yet, and the virus correction was just a temporary speed bump along the path to appropriate valuations with SPY in the 400s? The Fed influence argument is just a distraction from what’s really going on.

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    • discoordinated

      And that is?

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    • numbersgame

      What if markets were massively overpriced in January 2020, even without COVID-19 factored in becuase people just buy the dip with zero attempts to try to evaluate waht any one stock is worth?

      Bonds are relativel simpel: you give me “x”, I give you “y” every year and you can factor in a potenttial defautl estimate and put a price on it.

      Stocks are not that different. You have the stock price and the net income. Of course, the mani differnece is that the future net income is not fixed. However, you can estiamte it any number of ways. However, even optimistic estrimate show that some stocks are vastly overpriced, today and in Jan 2020.

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      • ericbakerbruce

        It’s cash flow, not net income which is important.

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        • numbersgame

          Some people largue that net incoem is low becuaae companeis are investing their cash. However, if you are investing your cash prudently, then that will show up in your assets. And of course, if your assets are icnreasign, that shows up as an increase in net income.

          Also, issuing stock or debt improves the cash flow, but doesn’t affect net income. Thus Ponzi wil lahve good cash flow but bad net income

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          • ericbakerbruce

            That is the dumbest thing I’ve ever read in my life. Go take an accounting class and try again….

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          • numbersgame

            Sorry ’bout the late reply. Not sure if you are trolling me (it worked) or are such an ignorant dumbass that you don’t even know what you don’t know.

            1) Did you miss the finacial crisis? A big reason why bank incomes plummeted was because the value of their assets fell.

            “Because prices had fallen, their assets were now worth less, and so the banks’ reported huge quarterly losses.”
            https://monevator.com/what-is-mark-to-market/

            Change in asset valuation is not captured at all in cash flow. Capital gains are not captured in cash flow, either.

            2) Issuing debt, net income effect
            Your liabilities increase, lowering your net income. The cash from the debt issuance increases your assets, raising you net income. Depdnign on fees, these two effcst cancel each other out and you net income is 0.

            Issuing debt, cashflow effect.
            This creates a postive cash flow. So any company that does nothign but constantly issue new debt will look successful to a dumbass like yourself, even if half the cash is blown on hookers + cocaine.

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    • charliehorse

      Agree. We are in a secular bull market. When you go through over a decade of zero growth, which includes the two worst bear markets since the Great Depression, it creates a tremendous level of negative recency bias. Now add in COVID, and that is at even higher levels. Nobody thinks the market will go much higher. Precisely why it will. EVERYTHING that is discussed on this site is already widely known information that is priced into stocks. Everyone already knows this is going to be the deepest contraction since the GD, it was priced in immediately. But the duration matters FAR more than the severity. And that is what the market has been (and will continue) pricing in.

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      • numbersgame

        “A decade of zero growth”

        We never got close to that, GDP, wise. If you are talking about the stock market, then your post is about 10 years too late.

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        • charliehorse

          Yes I’m talking about the stock market. And no, I’m not a decade late. Did you not see the use of the word secular? The last time we went through a period of stock market returns like 2000-2014 was 1969-1982. That was followed by a nearly 20 year run with a brief speed bump in 1987. It takes a long time before the masses start trusting the market again. We’ve gotten nowhere close to this point yet. But I know wanna-be day traders have a tough time following long term societal trends.

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          • alty

            Agree. This reminds me of one of my favorite Nick Maggiulli blog posts:

            https://ofdollarsanddata.com/the-investors-fallacy/

            See the final chart and commentary below, including:

            “If history were to repeat itself in some meaningful way, the S&P 500 would be 4x higher by 2030 than where it is today (Jan 2020)

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          • charliehorse

            Thanks for the link. Haven’t heard of Nick Magiulli before, but I’ll be reading more from him.

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          • alty

            Awesome! Glad you found it interesting.

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  11. purdy

    They don’t want bonds over the weekend.

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  12. og

    Give me that end of day ramp so I can sell.

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  13. Dave Portnoy

    Whats up Fly ?
    Horatio Clawhammer has terrible timing this recession.
    We go lower.

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  14. purdy

    Some good content and comments here today, including:
    “triple inverse feelings” and
    “shut your mouth when you talk to Fly”

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  15. jacked rabbit

    The only wanton degeneracy I want right now is Shake Shak, tap beer, and live music.

    I have become a hobo (complete with beard and comb over) of the highest order. My body has been purged of religion (not faith, but man-made religion), small talk and leftovers.

    I’m 97% invested in my retirement accounts and 100% cash in my short-term account.

    I’m Freddy Freeloader flowing stark naked into the Terrordome, and loving every minute of it…

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  16. Mr. Cain Thaler

    WOW holy 10 yr risk on. Alright, guess we’re going higher.

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  17. the_wolf

    this market makes no godamn sense to me, more and more,….. as i get older, the market seems to dislocate from reality, its fucking screwy, fuck sakes
    but i’ll take it, my monstrous oil positions are up HUGE,
    i’ll be retiring early now,
    even though crude is down,.. don’t get it at all, but ill take it

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  18. i_am_nemo

    I was talking to a referee about college football being played without a crowd or very reduced crowd. He said it would never work without cheering being piped in via loudspeaker b/c of the audibles. Maybe Alexa gets involved so you can cheer on your team.

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