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
22,033 Blog Posts

I ASSURE YOU: FRIDAY LOOMS

It was a terrible close. If you are a permanent bull, like some people that I know, you should have clammy hands into this close, which presided over longs with a sword against their necks ready to chop away. I will have you know, I am fully invested and slightly leveraged, big bets in commodities and heavily short banks and long volatility. It is my belief, being perfectly honest and all, markets are on the precipice of rout.

BEHOLD the returns for Fridays during 2022, data via Stocklabs.

If you’re reading this bloggery, smugly viewing the PANW earnings beat and thinking “boy this Fly guy is gonna be wrong” — let me inform you that there is ZERO chance I will be wrong and 100% certainly you will be dispatched, unceremoniously, first thing tomorrow.

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6 comments

  1. metalleg

    I love it when you talk dirty.

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  2. comichelus

    Fly, I have always enjoyed reading your blog. Thanks for all the great content. I think everyone is too bearish & confident that we haven’t seen the bottom for the market yet. I would love to take the costanza trade here.

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  3. john galt

    I had to stop and pull up a calendar, it is a Friday tomorrow and you have got me a little excited to watch some Friday fuckery unfold! It’ll be a nice break between the snowy morning and kids jumping into the snow melt 40 degree snake river. When pain didn’t matter and fun trumps.

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  4. john galt

    I’ll finish this house in 3 weeks and then let some Californian overpay immensely. Since Sir fly is always right it would be nice see fewer doom is upon us stories and more rainbows and sunshine posts. At least for a month or two….

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  5. Cricket

    This is the Jaws economy. Under the surface, out of sight but deadly dangerous, lurks the killer. We can see the fins swirling around us, but we don’t know when it will strike. But strike it will and some of us will be the meal.

    I didn’t think Putin would go into Ukraine – I think that this was the consensus view. It was wrong. Now I don’t think he’s going to stop with Ukraine. Hes’s going to clean up his neighborhood, Ukraine being the first. We don’t know where this will end. Unpredictable indeed.

    China is doing some very strange stuff. Are they preparing for something? They’ve just closed down their GitHub equivalent, Gitee, to conduct a review of all code (that’s 8 or 10 million projects). When that is completed, all new repos will have to be reviewed for approval. These are not normal steps – looks to be national security hardening procedures.

    Against this the US is being run by a bunch of war mongering lunatics with absolutely no regard for their own citizens. They’ve clearly lost the plot. Where do these idiots think they can go when it all hits the fan, and the 14 million or so deer hunters decide to pull out their ARs and go on rampage?

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  6. purdy

    The last few days have seen outperformance for Chicom stocks, PMs and Russell.

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