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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.

Pinterest Files For IPO — Market Top Just Around the Bend

Today’s action was milquetoast. I’m neither hot or cold on the action. But I am dead cold on this news.

Pinterest is a piece of shit female only social network. The fact they want to IPO now, after so many years, must mean VCs are on edge and want to liquidate to the fools. They’ll visit CNBC soon and tell you how wonderful Pinterest is and how they’re trying to get men to use it. But rest assured, no one gives a shit about it and you should not buy that damned stock.

Let me say this and with great alacrity:

The fact the Fed is going to stop unwinding their balance sheet means they foresee deterioration in the economy and are trying to jump ahead of the curve. This Pinterest move only lends to that narrative.

Technically, all is still good. Nothing wrong with crude, junk bonds, the dollar, or small caps yet. My hunch, gold bounces like a motherfucker tomorrow, with stocks, and we continue to barrel into micro caps with animalistic aggression and destroy our enemies.

Top picks: NUGT, HYRE, SAND, and GEVO.

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Fly Sell: $BE

I sold for a 10% win, slowly raising cash or at least trying to. Markets are getting shredded and gold is sharply lower — so I’m on pause now.

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I AM CAPTAIN NOW

I bought HYRE right here — because I like money. With my discretionary account, I buy a lot of shit stocks — highly concentrated, woefully dangerous companies — because I can. See pal, that’s who I am and you’re nothing.

Afraid of risk…

…Fuck you go home and play with your kids.

I’m not insane you know. Seventy five percent of my money is invested quantitatively. Some of you FUCKERS already know this — but there are new readers every single day and so many of you are retarded. My risk account is deliberate and a blunt instrument of warfare, plus an avocation of mine. These small cappers I buy are maximum 5% weighted, sometimes 1% — and only increased above 5% when I’m really confident about the trade — as is the case with NUGT.

On this issue of gold…HAMMERED into the fucking ground. No worries. Those Big Ass Black Candles (BBC) have always led to higher prices in recent months. I suspect tomorrow will be another up day for gold, reducing gold bears to gum stuck on the side of a sidewalk next to a sewer cap.

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Trump Tweets: I Want 5g, I Want 6g, As Soon As Possible

What the fuck is this shit? Does he think it’s up to him or the providers who actually have to pay for this shit.

From the President.

5G related plays:

Segments Providers- VZ, T, TMUS, S, KT, DTEGY, CMCSA, CHTR, DCM, Towers- AMT, CCI, SBA Chip Makers- INTC, QCOM, CIEN, ZAYO Equipment- ERIC, NOK, SSNLF, SWKS, GLW

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A Series of Fly Projects Unveiled; Futures Are Soft

I’m undertaking a new project — publishing my selective works of the blog — dating back to 2007. It is a living testament of the stock market during this time period, and there’s nothing out there quite like it, impossible to replicate. I am, without equivocation, the most prolific financial blogger to have ever lived in the history of the world. One hundred years hence, traders will look back upon these halls with great distinction and read my missives and feel, actually feel, as if he/she/it was there with me — bowling on fuckers in the comments section with my magnanimous wins.

I believe it is my duty, as a citizen of the world, to publish these works, lest they might be lost to the ether when I am good and gone and everything turns into dust. I must transfer our world thru our distorted eyes into print. I say “our”, because much of what I wrote about was influenced by you — the unwashed reader. I will, of course, add some color to them and to be honest, I CRINGE at some of my earlier blogs — seeing how god damned juvenile and obnoxious I was. But that’s part of life, I suppose — the fires and the hearth — we burn inside of it and come out the other end crispier.

I will break it into three parts.

The Financial Crisis Years: 2007-2010
The Aftermath and Subsequent Rallies: 2010-2013
Leading into Trumpism and Latter Obama Fuckeries: 2013-2016

I won’t name them that, of course. I’ll come up with something creative. They will be a living journal of a trader/space alien magician during a most interesting time period for investors. Books are interesting and offer backstories to what transpired; but nothing quite communicates it like real time reporting and trading — the tomfoolery of this site pre Twitter — a time and era when blogging meant something and when men took to the streets and demanded justice for all of the crimes that Goldman Ballsachs committed — when the SEC sought out revenge against banksters and tossed them into prison cells.

Yeah, none of that shit happened — but I have interesting stories. The first part might be ready within a month or two, depending on my schedule. It will be my 3rd published item, the first two novellas based upon my time getting started in the business.

Futures are now soft. We might want to raise a little cash today.

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Futures Pop Off; Get in the Capstone

Dow futures are +70 and Nasdaq +20. Gold is pulling in — met with fierce at $1,350. I would expect miners to drop by 5% on the next pullback — setting up for a sublime purchase.

Remember, the news of the Fed planning to stop unwinding their balance sheet is bullish for stocks. Do you bemuse yourselves by listening to alternating opinions and listen to me very closely.

Not only is the Fed the market’s bitch; but it’s also its catamite. Expect to see even more grandiose returns in the micro cap sector. Why, right now in Exodus we only accept 30% gains on overnight holds.

Speaking of which — get in The Capstone. Need to learn how to do this for real and quit dicking around with morons? I’ll do a live screen share demo with you for an hour to three hours per month. If you want just one session to test it out, see if I can teach you something important, that’s fine too. Sign up and cancel if it makes you feel like you’re in control.

We’re gonna catch all the fucking break-outs and when we’re done — we’re gonna catch some more.

Nite.

UPDATE:

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The Garbage Has Floated to the Top

I sold IDEX yesterday for a fast 13% loss. Today’s it’s up 30%. That’s how this shit works. Yesterday’s shit-heap is today’s treasure. With that being said, anyone paying close mind to this tape sees the present trend — small cappers running wild — scaring away old men wearing monacles.

Into the bell, I bought GEVO — because it wants higher.

I’ll cut to the chase. I own a lot of shit now.

Here is my SHIT-BASKET.

BE, GEVO, CANG, PLUG, TLRY, NIO, HMY, CAAS, SORL, DTEA and FTFT.

This is a ruinous combination of stocks bound to wreck me. But I wouldn’t have it any other way.

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Fed Bends the Knee — Stocks Rip Higher, Gold Sinks

Here is the key news from today’s Fed minutes.

BBG: ALMOST ALL FED OFFICIALS WANTED TO HALT RUNOFF LATER THIS YEAR

It shouldn’t be done, but they want to stop reducing their balance sheet for the express purpose of increasing inflation. That’s right — the Fed and their $4 trillion balance sheet will soon cease letting their balance sheet shrink and once again renew QE by rolling over their bond holdings.

More headlines:

*FED OFFICIALS NOTED SOME DOWNSIDE RISKS HAD INCREASED
*FED OFFICIALS SEE CONTINUED SUSTAINED EXPANSION
*FED OFFICIALS SAY RECENT HOUSEHOLD DATA HAVE BEEN STRONG
*FED OFFICIALS SEE STRONG LABOR MARKET, INFLATION NEAR TARGET
*FED OFFICIALS NOTE BUSINESS INVESTMENT HAD MODERATED

And on inflation, via ZH

many participants commented that upward pressures on inflation appeared to be more muted than they appeared to be last year despite strengthening labor market conditions and rising input costs for some industries.

Stocks should rampage higher — because this is a form of monetary easing. Why the Fed is doing this is obvious — they see weakness in the numbers and want to get ahead of a possible economic slowdown. Ceasing the balance sheet reduction is step 1. Step 2 would be to cut rates.

Gold is weaker, basically because risk is on and people are taking profits. However, this is inherently bullish for gold.

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Market Weakens — But Gold Emblazons Higher

You cannot stop the reprobates from dragging us into yet another bull market in gold. It will be unbearable and you’ll learn to hate Peter Schiff, as all previous generations have for the past 30 years or so.

Markets have reversed early gains and are now weakening. What does that mean for equities?

Not much…yet.

I view this sell off or weakening as an opportunity to buy into an up channel that is not done going higher. In the event markets should continue down to, let’s say, $170 — buy with both hands.

In the meantime, we have a grande bull market in gold, which is the beneficiary of some old fashioned asset allocations at some of your finer hedge funds. People know, inflation is just around the bend — hiding in the bushes — eagerly awaiting to jump out at you and snatch your necklace with zeal.

Hard money assets are an appropriate way to store value — that an art. Go buy some fine art.

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Harvesting Some Gains to Make Room For More Shit Stocks

I sold MDB, AYX, and CBLK — all for nice profits. I’m a big SAAS fan, as most of you already know. I fervently believe in the future of our software pioneers, as they sashay into the future — eating away at enterprise IT budgets — placing people out of work.

We’re in the latter stages of the rally and the QQQ is getting close to my $175 target.

What to do?

Play the small cappers. That’s where all the money will be made as the rally matures, eventually wilts, and collapses on its own hubris.

“The Fly” is a man of few words, both stoic and reserved in all manners, and likes to believe the market to be his handball court — with me bouncing around and slapping the shit out of equities that run into my path. I know exactly what will happen next. There isn’t the slightest inkling of doubt as to where we new heading and how this resolves itself.

I intend to make a great deal of money these next few days.

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