iBankCoin
Joined Jan 1, 1970
509 Blog Posts

Costanza Stock: “Farmer Mac”

It doesn’t get any better than this. Just the name Federal Agricultural Mortgage Corp. [[AGM]] itself, makes this a Costanza “triple threat” stock.

Federal…..Ag….Mortgage. What’s not to like? This is Costanza perfection.

In addition, “Farmer Mac” just made the glorious “NO-SHORT List”.

Put it on your watchlist.

If it doesn’t go below $6.50, I’ll look to buy it on a break above $8 for a short term swing trade. If it prints $6, then it’s OK to buy it on a break above $7.50.

Disclaimer: Buying broken down “junk stocks” can be hazardous to your portfolio. This stock is for gunslinging contrarians only.

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It’s NOT Different This Time

Hello? Hello? Anybody home? Think, you fool, think……

I lmfao at all the chit-chat, yap-yap asshats who espouse all their stupid theories, thoughts and predictions.

“I expect to see the market up or down 200 – 300 pts all week this week.”…..That was “wisdom” from the ponytailed guy on Fast Money. So?…..No offense, but…WTF????

This is a bear market. Bottom line, we go down. It’s not “different this time”. All bear markets are the same. Everything gets taken down. Everything. That’s how bear markets work. Understand?

How can anyone spin anything otherwise?

Trade and/or hide your money accordingly.

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Opening Trades: CCJ, SRS, GS, CIEN

I had several opening Costanza trades this morning, including a sell on GS:

Bought Cameco Corporation (USA) [[CCJ]] , @ $25.15 (9:31 ET)…….$22 stop

Bought [[SRS]] , @ $70.32 (9:32 ET)……….$66 stop

Sold Goldman Sachs Group, Inc. [[GS]] , @ $128.10 (9:45 ET) — short term profit of $3.09

Bought Ciena Corporation [[CIEN]] , @ $11.64 (9:47 ET)…….$10.00 stop

I’m traveling and in meetings all day, so I’ll check back tonight.

Disclaimer: This information is not intended to be investment advice. Conduct your own due diligence before buying or selling.

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Costanza Stocks to Watch

Staying disciplined and not deviating from your trading methodology is more important now than ever. Don’t let your emotions change your way of trading or investing.

So when I see oversold stocks that are setting up for a potential bounce, I have to be consistent in pulling out the fishing pole and thinking about bottom fishing.

Ciena Corporation [[CIEN]] ……buy on a break above $11.50

Cameco Corporation (USA) [[CCJ]] …buy on a break above $25

[[SRS]] …buy on a break above $69

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Disclaimer: Bottom fishing can scare the bajeebers out of some people. It involves risk. But, if you’re so inclined to throw “common” sense to the wind, then you might want to have a similar approach, like this guy….

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Ruh-Roh!

“Those who ignore history are condemned to repeat it.”

I did a quick fact check on the last financial system bailout of the S&L’s during the crisis of 1989. Turns out that the official creation of the Resolution Trust Corp. aka “RTC” on 08/09/89 was the top tick of the bank stock rally that year.

Over a year later, the economy “officially” went into a recession in July of 1990. By then, the S&P 500 Bank index had dropped over 25% and then fell to over 50% DOWN by late 1990.

It took until the summer of 1992 before the bank index got back to the same levels of Aug 1989, well over a year after the recession officially was over.

Granted, what Hank, Ben  & Co. are proposing is a little different mechanism than the RTC this time around.  We’ve already seen a massive meltdown in financial stocks, and shorting an elite group of 799 names will get you killed, but you have to pause and reflect on the history of all this.

We won’t know the details of the new plan until after this weekend. Fundamentals. Details. They’re important, no?

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Bought GS @ $125.01

Earlier this morning, I bought Goldman Sachs Group, Inc. [[GS]] , @ $125.01.

The game has officially changed. The scenario now becomes increasingly more viable for banks to come out with new equity offerings as their stock prices will most certainly increase.  The “don’t short…or, we’ll kill you!” policy promulgated by the SEC/Treasury/Fed triumvirate, while egregious, is what was needed to stop the hemorraging .

Estimates on loan loss provisions for 2009 will be coming down. M&A will accelerate and thrive in 2009 as consoldiation in the industry becomes the key to survival.

Now is the time to be buying best of breed in the financials, and Goldman is that.

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