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
17,110 Blog Posts

ONE MORE THING BEFORE YOU GO…

Aside from gambling all over the places, hitting aces at every turn, my brokerage house play, SIEB, shot higher towards the end of the session — placing me +20% from my intra-day basis.

Not only did I make 60% on LFIN, but it ran another 20% to $22 after I sold it. These are rich times that were designed for people like me, fast movers, light and quick balls, eagerly sashaying through markets like a viper in the night in search of prey. Since I preside over a god damned Market Intelligence Platform (Exodus), I am well perched and know exactly where the money is moving on a real time basis.

Have a great weekend. Just when you thought “The Fly” was finished and could not win again, BAM, he wins again.

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Fly Sell: $LFIN

Booked the trade just north of $18 for a 60% intra-day gain.

I’m hearing insiders are selling today, in a big way.

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GET IN HERE AND CHECK OUT MY NEXT BLOCKCHAIN PLAY; IT’S RIDICULOUS

An article from several months ago…

You may have heard how the finance industry is looking to take advantage of blockchain technology beyond peer-to-peer money transfers. Today we have a story that fits into that narrative, with a group of banks led by Credit Suisse inching closer to launching a blockchain-based platform to offer loans.

Speaking to the finance magazine EuroMoney, Emmanuel Aidoo, Credit Suisse’s head of blockchain efforts, said that syndicated loan trial — which began last fall — is moving ahead.

“We are working to put a few dozen smaller loan transactions, where we or other participating banks are the agent, onto a distributed ledger platform using smart contracts in production next year,” he said.

The concept

The test envisions a syndicated loan market in which multiple lenders pool their capital for individual borrowers. The group hopes the blockchain technology can reduce barriers between counterparts, reducing both time and cost in making the necessary capital available.

Also, using smart contracts will reduce turnaround times to eventually increase the market’s appeal to both lenders and investors, according to Aidoo.

“Many investors, including mutual funds and institutional asset managers, might be attracted to loans that are senior to bonds in the capital structure, but they are put off by how long loan trades take to settle,” he added.

Second phase of testing has been completed

The second phase of testing has been completed in March. Among the banks that were included as participants, we find such giants as Barclays, BBVA, Danske Bank, LSTA, Royal Bank of Scotland, Scotiabank, Societe Generale, State Street Corporation, TenDelta LLC, U.S. Bank and Wells Fargo.

On the buy-side there were AllianceBernstein, Eaton Vance Management, KKR, and Oak Hill Advisors.

Distributed ledger startup R3’s research outfit managed the test, while the system was developed by Synaps, a joint venture backed by blockchain startup Symbiont and Ipreo — the latter of which is co-owned by Goldman Sachs and private equity giant Blackstone.

Did someone say Oak Hill Advisors?

Someone dropped the ticker in The Pelican Room at Exodus, so I went long.

Why the heck not?

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Quant Portfolio Crushed Skulls Again This Week

For the week, my systematic portfolio crushed helmets and skulls, higher by 0.61%, outpacing the tepid SPY by 70bps. I think I’v demonstrated over and over again that my quantitative method is much better. Now it’s time to reduce the churn and build a quant portfolio for longer durations.

For this week, I was directed into mega caps, just a handful of them, with a TLT/GLD hedge.

Timing could not be better, since I am interested in winding down my operations heading into 2018.

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MOAR CRYPTO GAINZ: $TEUM

My PYDS is lighting fucking faces on fire here. I made over 20% this week in GROW, XNET and MARA. Now I’m up nearly 50% in the past half hour in LFIN. So, with all of this new crypto cash rolling in, I’m playing my luck here and buying TEUM.

YOU CANNOT GET MORE DEGENERATE THAN ME? DO YOU HEAR ME YOU FUCKING FAGGOTS?

Also, I’m still look for SIEB to make a vertical move upwards (redundancy alert) soon.

Let the cocaine flow.

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THIS IS THE BIGGEST BLOCKCHAIN/AI YOLO TRADE OF ALL TIME: $LFIN

Check this out. It has all of the trimmings of wanton degeneracy on an industrial scale.

Recent IPO: check
Small float: check
Shady as heck: check
AI company: check

Right after coming public, they announce the purchase of a blockchain company: check

Longfin Corp. (NASDAQ:LFIN), a leading global FinTech company, announces the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins.

Ziddu Coin is a smart contract that enables SME’s, processors, manufacturers, importers and exporters using cryptocurrencies across continents. Ziddu Coins are loosely pegged to Ethereum and Bitcoin. The importers/exporters convert offered Ziddu coins into Ethereum or Bitcoin and use the proceeds for their working capital needs. At the end of the contract, importers/exporters will realize their proceeds and pay back their funds through cryptocurrencies only. Depending upon the risk profile of the counterparty, the interest will vary from 12% to 48%.

“The advent of Blockchain technology has caught the imagination of the global financial services industry; blockchain is emerging as a technological revolution that is set to disrupt the financial services infrastructure. Cryptocurrencies such as Bitcoin and Ethereum will act as a global financing currency to avail credit against hard currencies of many emerging markets.” Says Venkat Meenavalli, Chairman of Longfin Corp.

I’m in at $11.75. Let the fucking games begin.

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Massive YOLO Buy: $SIEB

Stock is already way up on this news.

Overstock.com, tZERO & Siebert Financial (SIEB) sign letter of intent to enter into a partnership to offer deeply discounted online trading in Q1 (60.90) Under terms of the agreement, any investor in America who accesses the Muriel Siebert & Co. Inc. portal at Overstock would be able to conduct online trading of US equities for $2.99 per trade through the platform. In addition, Overstock plans to introduce a new tier to its Club O loyalty and membership rewards program to offer that elite membership level the opportunity for online trading at an even deeper discount of $1.99 per trade.

Why is this important?

SIEB is a massive piece of crap. They can barely keep the lights on and I once played this stock, masterfully, back in 1999. They were caught up in the dot com craze and the stock went on a lunatic run, making Muriel Siebert the first female billionaire on the NYSE. I’m a little hazy on the details; but it was a big deal.

Now they’re aligning with a very high profile blockchain play, which will be the biggest ICO to date — launching on 12/18/17.

I’m thinking their relationship with tZero/OSTK can drive some new business. I’m thinking, the float is so damned small this stock can double again and no one would think twice about it. I’m thinking YOLO.

I’m in at $11.12.

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Sold Out of Another Bitcoin Proxy Play

Who said Senor Tropicana didn’t play the Bitcoin? I just bagged 20%+ weekly gains in GROW, XNET and now MARA. I have but 1 bitcoin proxy play left and that’s PYDS, which is a low key under the radar joint. They haven’t even confirmed their interest in the blockchain, but I’m guessing that news is imminent.

I’ll be making my quant adjustments later on this afternoon.

UPDATE: I forgot my GCAP position, which is also a hidden Bitcoin proxy play.

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Morning Poppers (Bitcoin Will Soon Pass the Dow Edition)

***ALERT: Email me for Exodus free trial, the last of its kind: flybroker at gmail***

Bitcoins are up by another 10% today to roughly 18,000. By this rate of return, it will surpass the Dow in point value by next week. Who remembers the olden days when it was a big deal as it passed the Nasdaq? Why, back then, people were fixin’ into believin’ the darn Bitcoin was the second comin’ of the Lord himself, let alone a good investment opportunity. Now it’s just another day in the grist mill.

Dow futures are mighty strong today and the Nasdaq too. Ready yourselves for great doses of opportunity and grandeur.

Here’s your morning headlines, fucked faces.

DCIX +43.7% (Morgan Stanley discloses 5.3% passive stake),
EGLT +20.8% (receives tentative FDA approval for an expanded label for ARYMO ER (1.01)
DDR +13.1% (higher after announcing plan to spin off portfolio of 50 assets; will host call today at 5pm ET),
SIEB +11.2% (Continued strength after signing agreement with OPSTK yesterday)
ACRS +9.2% (receives FDA approval for ESKATA for the treatment of raised seborrheic keratoses)
ALNY +7.6% (Announced with SNY that the FDA has lifted the hold on clinical studies with fitusiran)
HES +6% (WSJ reporting that activist Elliot is seeking to remove the CEO or push for sale),
GLNG +5.1% (seeing strength after Karen Finerman pitched on CNBC),
HST +2.5% (announces special dividend of $0.05/share),
DISCA +2.3% (Director John Malone disclosed the purchase of more than 330K shares valued at approx $6.6 mln),
PBR +1.4% (Exxon Mobil and Petrobras signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities),
TWO +0.7% (modestly higher after declaring quarterly dividend of $0.47 per share of common stock; expects $0.47 per share amount to be sustainable into 2018), .
Analyst comments:
CROX +4.2% (upgraded to Buy from Hold at Stifel)
TEVA +4% (upgraded to Buy from Neutral at Goldman)
FL +2.6% (upgraded to Buy from Hold at Canaccord Genuity)
PRAH +0.8% (initiated with an Overweight at Mitsubishi UFJ)
FormFactor upgrade details — to Strong Buy at Needham; tgt raised to $22
Hi-Crush Partners: Compelling Opportunity in the Sandbox: Adding HCLP to the Alpha Generator — B. Riley FBR

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Stars Wars The Last Jedi Review: A Ridiculous Exercise in Absurdity

I had the fine opportunity to see the latest Star Wars this evening. We had a nice dinner before the show and made it to the theatre a solid 30 minutes before showing. After loading up on a healthy amount of popped corn and bottled waters, we entered an already packed theatre filled with fan boys/girls adorned in Star Wars pajamas and Jedi costumes.

Before the movie started, our AMC theatre aired the most absurd and poorly made movie trailers in the history of cinema. It was one eye roller after the next; and that feeling spilled into the featured presentation, which began, cornily, and continued to spew out one canned cliche after the next until the movie’s uninteresting climax.

I don’t want to give away spoilers here, but I can comfortably say this is the very worst Stars Wars movie of all time. The acting performed by Luke Skywalker, him and his broken man role, was both lazy and asinine.

Kylo Ren and Rey are both talented actors, but their roles and scripts left much to be desired.

God damn it, the entire plot was festooned with flaws and preposterous plot twists that I’d expect to see in a Disney made for teevee movie, not a blockbuster film with an unlimited budget. Even the CGI was weak and flimsy, creating an atmosphere of subhuman qualities in a franchise that is supposed to be the gold standard in America cinema.

By the way, having Kylo Ren not wear his mask the entire movie was a mistake of epic proportions. Then again, whoever made this movie are complete imbeciles, unable to determine the difference between interesting and lame.

Don’t even get me started on the ending scene with the boy and his stupid broom, gazing out into the sky with his idiotic crackerjack ring glowing for reasons unbeknownst to anyone.

One thing is certainly clear: whoever wrote this movie was on drugs, or is simply an untalented wench who should be fired from modern cinema and perhaps take up occupation in a traveling carnivale to spend the rest of his days juggling cans of flammable jugs that might oneway detonate and incinerate him into dust from which he came.

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