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Dr. Fly

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.


What more can I say, other than get your fucking rally hats out.

Here is the full rundown this very busy Wednesday evening.

The Islamic Republic News Agency said Thursday the drone was hit when it entered Iranian airspace near the Kouhmobarak district in southern Iran’s Hormozgan province.

The U.S. military declined to immediately comment.

Nasdaq futures are +65.

WTI +1.3%, and the 10 yr treasury yield is plunging, now under 2%.

And here’s the main story. The dollar is getting the business vs the euro, down by 0.4% and today’s retarded Fed meeting is finally resonating with people — getting them to believe inflation might be a very real concern.


Yes, I’m presently long AU and NGD. “The Fly” wins again.

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BREAKING: The Fed Dropped the Word “Patient” From Their Written Statement

Good news everyone — The Federal Reserve removed the word “patient” from their statement — implying they might cut interest rates with markets at record fucking highs. This makes all the sense in the world and I hope President Trump is pleased with Jerome Powell now. We really need the market to run higher by another 10,000 points, else I don’t know we’ll all do with ourselves.

This is the world we’re in now, parsing through the statements of assholes for the express purposes of extreme profit. We will take these gains and buy jet planes and cocaine, and hookers, and gold watches — merrily swimming in a sea of nothing towards the grave — bobbing and weaving the whole time with high powered attorneys and accountants to increase our worth and moat — hoping to die before the IRS gets a chance to figure it all out.

What a life!

The Federal Open Market Committee voted 9-1 to keep the benchmark rate in a target range of 2.25% to 2.5%.
The action sets up a possible confrontation between Fed Chairman Jerome Powell and President Donald Trump, who has been pressuring the Fed to cut rates.

The Fed dropped the word “patient” to describe its approach to policy.

The central bank also left the door open somewhat to future cuts.

Eight members favor one cut this year while the same number voted in favor of the status quo and one still wants a rate hike.

This is what you wanted — isn’t it? Gold is pressing the fuck higher and bond yields sinking again. I can feel the anxiety in the pit of my stomach — short sellers sweating it out in a white knuckled panic, wondering the meaning of life. I have a clue for you. We’re in a period of effervescent progress and nothing can stop it. You can try — but you’ll fail. We have a warrior class of people in charge of America now and they’re only interested in growth and higher stocks. The second the market trends sideways — BAM! they do something to get the electricity generated again.

I got boned on my pick from yesterday and sold CHWY for a 5% overnight loss. I will try my hand at this shit again.

I’m quite pleased with the progress in the olde man sector, however. I own a fuckload of value and that’s the place to be with the incredible shrinking yield curve in effect.

Signing off now. Fuck off.

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Doing Nothing Ahead of the Fed

Value stocks are still the place to be. Today a lot of growth stocks are being uprooted, but the market is barely down. Imagine of the market was really down how much you’d be fucked by now.

See pal, life is a series of gambles and “The Fly” is simply better at the stock market ones. In other aspects of life, such as home improvements or destruction, auto-care, and any sort of tech help for websites — I am literally cursed. The Gods only give me these great gifts — because they take away so much from other areas of my life.

Other people have it all — I only have the pen and the keyboard, nothing else.

I am not going to trade ahead of the Fed — because I don’t need to. I have an overnight trade that will be sold today, but it’s down now and I was hoping it could rally a little. I know hope normally isn’t an investment stratagem — but today it is.

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Fed Day: Does it Really Matter Anymore?

Most people I know don’t care anymore about the Fed, or anything else for that matter. Nihilism is strong in America — after a decade of unbelievable fuckery. The timeline was altered and changed forever when the banks were bailed out in 2008. I’ve always argued for it — because who in their right mind would want to die right away, if you could delay the inevitable or even suspend it indefinitely?

Not only have we delayed the inevitable, but we’re thriving now and some people just can’t to grips with it — because it’s new and different and they do not believe printing money is a solution to moral hazard.

Speaking of hazards, I ventured off into my DVR last night and perused a film I had recorded months ago — The Toast of NY. I’m a big fan of the silver screen and like just about all Cary Grant films. This one was a pleasant surprised because it was about Jim Fisk, a famed robber baron who made his fortune dicking around with stocks. The movie told the tale of when Fisk, Drew, and Gould schemed to steal $6m from Commodore Vanderbilt. If you’re looking for an old school Wall Street flick — go watch The Toast of NY. It’s a true story.

Futures are strong and today Powell bends the knee to Trump, or gets fired.

When Federal Reserve officials meet this week, they are expected to clear the way for a July interest rate cut by downgrading their economic forecast, tweaking the language in their statement and reducing their interest rate forecasts.

The Fed is expected to remove the word “patient” from its statement, signaling that it is ready to move on interest rate cuts to help the U.S. economy make it through a period of slower growth and the potential impacts of trade wars.

Fed funds futures are pointing to odds of about 80% for a July cut and about 20% for a June cut.

No whining and no complaining about things we can’t control. Man up and trade.

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Back From a Long Day of Hiding Out

At around 10am I was alerted to a Showing Time request for my house at 2pm. This set off loud and buzzing alarms inside House Fly, as Mrs Fly panicked to launder the sheets and scrub the walls and make sure everything was tidy enough to be seen by complete strangers, perusing our home with extreme criticism and sincere circumspection — for the purposes of purchase. A domino of mental confusion gripped her and caused an avalanche of emotions to sloppily spill out and erupt into an inferno of rage and anger. Much to her chagrin, I opted to shower and then garden — taking the highest road if you will — because gentlemen of my cloth and leisure do not partake in “inconsequential discussions.” Catch phrases such as that, I’ve learned, work wonders for my relationship — a toxic recipe of self-destruction brought on by the fact that I’m constantly seeking chaos and interminable folly.

I made good solid coin today and have come back home for a brief period of rest and respite. I will soon be on the road again, acting as a butler for House Fly, doing this and that, getting things done productively and without complaint. The markets enjoy going higher and I am in no position to argue with it. It was tempting to fade the rally for an opening tick lower — but I decided that would be a dogs shit trade and opted for something more degenerate. The IPO market is red hot.

Trade accordingly.

Here are my last trades, most of which were overnight holds.

DRIP +28%
ROKU +2.5%
TVIX +5.7%
TZA +2%
FAZ +6%
TQQQ +4.5%
NUGT +21%
ROKU +6.4%
(DUST -2.9%)
AYX +5.4%
ZM +8.5%
PINS +9.5%
(PAGS -0.5%)
(SFIX -3.5%)
FAS +0.3%
(BE -3.1%)
LK +8.1%
CRWD +7.2%
SOLY +7.9%
NUGT +8.3%
SAIL +5.9%

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Trump Tweet Sends Markets Flying; Schiff Salt is Real

I’ve stopped expecting things from people a long time ago. I just resign myself to destiny now, toiling away, scrubbing the decks and firing the cannons indiscriminately into enemy quarters.

This Trump tweet about meeting President Xi is lighting markets on fire, and also Peter Schiff’s head.

This is all so stupid — but you cannot hate the players — just the game.

Separately, and I know some of you FUCKERS love this — I just kicked out my overnight trades CRWD and SOLY for +7.2% and +7.9%, respectively. Also, I sold NUGT and SAIL for a quick +8.3% and +5.9%, respectively. Fly’s high IQ trades are for Exodus members only, so sorry.

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European Bond Yields Plunge Into Negative Territory

We are in an unprecedented time of easy money. We can easily see this by looking at the 10yr benchmark around the world, many of which in Europe are NEGATIVE yielding.

Here’s a list of countries with negative 10yr bonds yields in Europe.

Austria (-0.04%)
Denmark (-0.27%)
Finland (-0.02%)
France (0.00%)
Germany (-0.32%)
Netherlands (-0.16%)
Sweden (-0.013%)
Switzerland (-0.536%)

Comparatively, the US 10yr is a very attractive 2.01%

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Bonds Yields Crater and Crack — Markets Surge

Over in Europe, men in tight pants are buying stocks furiously. The DAX and CAC are up greater than 1.5%. Here in the state, the Dow is looking to soar by 150, Nasdaq by 85. The news is curiously absent from the tape. I did see this — some fuck over at Carlyle speculating like a motherfucker.

“I do think there will be a resolution before the end of the year” in the U.S.-China trade war, says private equity billionaire David Rubenstein.

Rubenstein says he’s spoken to U.S. and Chinese officials. “My view is both sides want a deal.”

President Trump and Chinese President Xi Jinping will meet at the G-20 summit later this month, Rubenstein predicts.

But the important thing happening this morning is in the bond markets. Listen to me and look at me — these fucking yields, god damn it, are out of control to the downside. People are plunging into bonds like it was the end of days.

Right now the 10yr is at 2.02%, down more than 6 basis points. The 30yr is at 2.51%, placing 30yr mortgages sharply under 4%. The cost of capital is now cheapest in years, happening at a time when the economy is great. So, and this goes without saying, the perception is this will be inflationary. We haven’t tried lowering rates while the economy was ripping. Maybe this does the trick!

As such, gold is rocking higher — now up 0.8% to 1,353.

Lastly, fake meat is above $200.

Happy trading.

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Booked a Fast Profit on Chinese Coffee

Silly jackasses — the Chinese do not drink coffee. They drink green tea and eat red bean paste for breakfast, sandwiched in between two greasy prices of dough. With that being said, I booked an 8% overnight gain in LK.

Who’s gonna stop me?

Here are my last 15 overnight trades.

DRIP +28%
ROKU +2.5%
TVIX +5.7%
TZA +2%
FAZ +6%
TQQQ +4.5%
NUGT +21%
ROKU +6.4%
DUST -2.9%
AYX +5.4%
ZM +8.5%
PINS +9.5%
PAGS -0.5%
SFIX -3.5%
FAS +0.3%
BE -3.1%
LK +8.1%

Life is good and it’s gonna stay that way. I took out two overnight trades today, and I’d tell you, I really would — but they’re for members only. So sorry — fucked faces.

I have nothing bad to say about stocks; therefore, I do not have much to say at all.

Good day.

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Kostin is Not Goldman; Kostin is Persona Non Grata

This article is intended to help young investors fetter out the bullshit they see and hear about Wall Street.

Here is the headline on CNBC now.

Listen to me, David Kostin is a fucking bearBOT program at Goldman, used as a foil for misdirection — tricking the plebs into vomiting up their shares, all the way the Goldman trading desk sops it up for profit. You cannot equate Kostin with the true sentiments of the bank, regardless of his haughty title at the firm.

Here are some note on today’s BEARSHITTER call by KostinBOT

The valuation for growth stocks is high and software in particular now carries the highest multiples since the Tech Bubble, Goldman said.

“Rising market concentration and the political landscape suggest that regulatory risk will persist and could eventually weigh on company fundamentals,” said David Kostin, Goldman’s chief U.S. equity strategist.

For investors still want to bet on growth stocks, Goldman came up with a list of names, including Lululemon Athletica and Advanced Micro Devices, with strong growth and high margins but less risk from regulation and high valuations.

He’s retarded, trust me. I’ve been fooled about a dozen times by him — thinking he had some unique insight into the economy because of the firm he worked for and its resources. NOPE. He doesn’t know a damn thing.

So whenever you see something from Goldman, signed by David Kostin, I want you to take it throw it directly into the trash can — for it is entirely useless and probably wrong on purpose just to trick you into making bad choices.

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