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.
This rally is fucking bullshit. My stocks have all reversed and are sucking dick!! I don’t like this fucking market at all and would sell everything, if not for the fact that I’m stuck someplace with limited bandwidth.
All of the Nasdaq gains are gone. There is nothing redeeming about this market and it will go decidedly lower and soon. I am convinced of that.
To endure this fucking horseshit, seeing the market vomit up a massive morning melt up, is fucking impossible to deal with. I am inflexibly livid.
ChessnWine was as cool as a cucumber during last week’s decline, further proof that he is worthwhile of your attention and investment in his premium products. Apparently, the economy is doing better than expected. As such, stocks are ripping to the upside. Only thanks to my stubbornness to self inflict financial wounds am I benefitting from today’s gorilla run. Had I listened to my urinal shadows, I wouldn’t be +1.6% right now.
Nevertheless, it appears the somber days of last week have ended. Once again, the Cocaine Gorilla Raping Train to Hedonism is running at full speed, fucking everyone in its way!
As for me, I have several meetings today, pertaining to matters of compliance. I intend to hold everything and enjoy the fruits of my lamenting, vis a vie higher equity prices.
If I look at a section of a wall that isn’t painted correctly, or an edge of travertine that wasn’t quite lined up right, I obsess over it until it is corrected. Small things transcend every facet of my life, from portfolio allocation, to wording of an email that must convey a certain message, to this blog– and most intently on The PPT (ask Vincenzo Illuminati), especially the new version in BETA.
I am trying to understand this market, post QE3. We’re not trading healthy and the important QE3 sectors are getting hit the hardest. The only logical deduction is the weak hands are being flushed out–the fucktards who went long AFTER QE3 was announced. Another thing that is beginning to bother me is the middle east. Tensions have never been higher and Israel is running out of time.
In the real world, away from QE and insane budget deficits, things aren’t so peachy. You can wake up one morning to reports of Israeli jets bombing the adobe out of Tehran, with S&P futures down 50. There are significant global risks to stability that cannot be ignored when investing today.
I’ve never had a lot of luck in October. It’s one of those months that tricks me, one way or another. My best months are from January to May, consistently, for more than 15 years in the business.
Plainly, I am going to cut losses on a multitude of my positions and not reinvest the proceeds– should markets continue lower this week. I’ll make it up later, when I have a better grasp on the direction.
Based upon the laws of mathematics, of the sublime nature, the market is not going to bounce until we hit certain levels. I will reveal to you what is seen on a daily basis inside of the hallowed grounds of The PPT, as a gesture of kindness.
As you can see, the algo marked the top of the range and hasn’t flagged OVERSOLD (OS) yet.
There are levels of OS we are prepared to buy. I am eying the 6 month OVERSOLD range as a possible buy point for the rest of my cash.
As you can see, this level has not failed dip buyers at all, over the past 6 months. After that, I will fall back on the 12 month and 36 month algos, all sublime in nature, touting accuracy stats greater than 76% with a much larger data set.
If you’re wondering why I haven’t adhered to my own computer brain by going to cash when the algo said we were OB, the answer is simple: gluttony.
Punishment for my crime is loss of time. Making back the money is the easy part for me. I do this, quite successfully, for a living. I’ve never been faced with a problem that couldn’t be solved. It’s the puzzle that keeps me interested. However, it’s the loss of time that I lament the most.
I tried to keep the Asshat of the Week Award (AOWA) dormant, in order to preserve the institution. However, this fucking interview with the RIMM CEO.
Becky Quick, long term interviewer of the old crusty one, Warren Buffett, could not have done a worse job with the prick from RIMM. I want you to appreciate the fact that RIMM lost the smartphone wars because their management was incompetent. Stubbornly, they stuck with the stupid physical keyboard, instead of the iPhone touch screen technology that Samsung stole. The result: RIMM is heading for the trash heap of once great companies gone bad, joining the likes of NOK, EK and AMD.
THEY FUCKING DESTROYED THE ENTIRE COMPANY!
Instead of pressing the CEO of RIMM, Becky decided to praise the virtues of the physical keyboard. Really? It’s equal to interviewing the CEO of betamax, circa 1993, and telling him how awesome it was compared to VHS. It’s like praising the rotary phone versus digital, incandescent lights over LED, big ass tube(d) teevee over LCD LED, beeper over cell phone, Burger King over Five Guys, Lycos over Google, Shoprite over Whole Foods.
Similar to empty threats from Israel to Iran, I too endeavor to attack the market with sell orders if we continue lower. Generally speaking, I look at the -10% level to either man up or back down. Several of my positions are near the -10% line and will be dealt with accordingly, should this market continue to lose good people money.
The market is not going to rally today. Try to avoid getting lured in and always avoid them murderholes.
Our only hope for an upside reversal is stimulus by the Chinese on sunday night.
I knew this shit was going to fall apart. It’s all bullshit; can’t you see that by now? The days of perpetual cocaine runs are over. This new version of POMO is different. It is luring bears into a false sense of security, in order to execute them later. By that time, most of you will be bankrupted.
I am down more than 1% this morning, giving back half of yesterday’s gains. This being the final day of the quarter, everyone figured we’d melt up. I knew we’d melt lower; but have opted to endure the pain and agony of capital losses, as a form of punishment, for committing the heinous act of gluttony.
Nevertheless, this is not a market fit to sell short. There is overt central bank manipulation. How do you expect to survive in shorts when there is so much widespread corruption? You cannot.
Over the weekend, expect China to introduce stimulus, which may pave the way for another round of short squeezes next week. Eventually, we are going much higher. But for now, we need to clear out the Qe3 buyers.
I never heard of “The Obama Phone” before I saw this fucking video.
First of all, it’s disgusting that the government is WASTING our money by giving away a luxury item. If people need to make a call, use a fucking pay phone. I figured the “Obama Phone” was just a nickname given by the people from the sewer, who were sponging from good folks like me, in order to order drugs from local vendors.
THEN I SAW THIS!
(click on picture)
I mean, it has it’s own fucking website named after him and all.
How is this legal? Let me get this straight: he is using government funds to give away a luxury item to his political base and brand it with his last name? The free phone is synonymous with Obama. Therefore, he will literally get votes from people who enjoy this service.
Pray tell me, democrats and republicans alike, does this make any sense?
UPDATE: Apparently many parts of my reporting of “The Obama Phone” are false and may be deceptive to my dear readers. However, keeping with the spirit of the lazy 47% of America, I’ve opted to leave the story as is, in an effort to create my own form of propaganda. I could very easily correct the story and post some real facts. But that would be honest, something our beloved government abhors and does not endorse under any circumstances. Having said that, “The Obama Phone” also comes with a “VOTE OBAMA” app, where users can cast a ballot for their phone overlord, in order to keep the service going, and for free! Also, I understand Obama text messages these people directly to remind them that if they vote for Romney, their service will be interrupted.
So what the nasdaq was up 40. Without AAPL, it was probably up 20. Once again, we sold off from the highs. I was up almost 3% during lunch, yet closed up barely 2%. It’s a good showing, no doubt. Howsoever, there is more capitulation to be had. I can smell it and feel it in my bones.
I’d like, very much so, to bank tremendous amounts of coin and kick short sellers down flights of stairs lined with mustard– but it isn’t going to happen.
THE WORLD AS YOU KNOW IT IS ABOUT TO CHANGE.
Even so, I remain stoically “statued” (pardon the redundancy), long by 90%. I am sick and tired of switching gears, just for the sake of “trying something new.” I am exhausted from being on the rat wheel and have opted to kill or be killed. Granted, taking such a position when +32% for the year is like throwing plugged in toasters into a swimming pool filled with “Twitter experts.” Nevertheless, you know where I stand.
I’m heading out to run a few errands, which will cost me about $10,000. I am up more than 2% today, which is nice; but I am still mad. I think it’s a genetic disposition of mine to be in a constant state of belligerency. It it’s not the markets, it’s something else. Most of the time, I take my fury out on you, the simple reader.
Now for some substance. I will forgo new ideas, since I am fully invested. At the moment, I built a portfolio around two stocks: KMB and ESRX. They are large(d) cap and trending higher. Everyone needs toilet tissue and drugs. Those two stocks represent more than 25% of my assets. Other 10% positions include DDD, OSG, JIVE and PPC. Five percent positions include ULTA, IDTI, SVU and NAK.
I am positioned for stability and growth. My guess, this blend of madness will produce a beta of 2.00 on up days and 0.75 on down. Both ESRX and KMB tend to outperform the market on down days.
It is an exhibition, if you will, of mathematical precision–winship by any means necessary.
