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
23,428 Blog Posts

The Recession is Back

As per Cramer, foreign bankers are “fighting” and outbidding one another for the worthless assets of [[BSC]]. In addition, as per Cramer, during recessions the market goes straight up, with hardly any pullbacks. So, consider today’s 300 point drubbing an optical illusion. We’re really up a “couple hunge.”

Oh, don’t forget to buy another house, as per Cramer.

In all seriousness, something must be said about how irresponsible that fucker is, telling the unwashed to “buy it all,” because the recession is coming and “The Fed is our friend.”

I mean, who makes this shit up? Does he really believe what he says? Finally, since when is it “smart” or “prudent” to drive dynamite filled cars into the sun?

Look you, I’m not here to gloat. I’m here to tell you fuckers “The Fly’s” IQ is much greater than yours. Plus anyway, while you’re sleeping like little bitches, he is out in his time machine acquiring valuable information.

If you’re short [[DECK]] from the high 130’s, like me, you may want to take a little off the table here and redouble the [[SMN]] position. I anticipate [[MON]] will soon die an “unglorious” death.

Finally, it’s worth noting, “The Fly” has already consumed 3 Monster Energy Soda’s. Get in his way, he may rip the sleeves off your bullshit jacket.

Developing…

Cramer UPDATE: He is now short term bearish. Geez.

“My take, we can rally a bit down 300, but until we get oversold — and we are nowhere near it — you sell the rally. There’s no way the Fed can cut this week, so I suspect more pressure ahead, particularly on the commodity and financial names.”

If you enjoy the content at iBankCoin, please follow us on Twitter

25 comments

  1. wow

    “Merrill Lynch sees strong chance of inter-meeting rate cut by FOMC following ISM Services drop – Reuters”

    Fucking hell… let’s just give up now.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. Vince Lombardi

    Watching these weak bulls get shat on is great. Look for csco to guide lower after the bell. Love the action in SKF. We will make new lows by mid next week.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. calvino

    I do not know if the Seattle Ubbergeek has decided to spend twenty billion to buy CRM – would not surpriseme. But fuck this, if they announce some shit tomorrow,.. I’m writing the SEC to gove them a heads up. If this shit is a pump and dump, then I will wait.. but if this is some inside game.. then let the dogs sic them.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. Vince Lombardi

    lol. The fed just can’t sprinkle ferry dust and get this mess to go away.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. wow

    Yeah, the last 2 rate cuts last week really have stabilized things… we need to let the shit fall where it may and then figure out what things are really worth…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Tim

    Praise be Fly!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. Woodshedder

    I’m already wearing short sleeves.

    Try again.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. CubsRock

    I feel so bad for all those suckers that bought into KBH today on Daniel Oppenheim’s Upgrade. What a scam. Stock was up 75% in 2 weeks, CFO just unloaded a shitload of shares…and he upgrades to BUY!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. Wood,

    Short Brazil via EWZ. Isn’t Brazil closed till Thursday? Do you have a support line on that one?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. Van

    Calvino, don’t worry, noone will buy this piece of shit. CRM just has a negative beta (fortunately, not capped at zero). Wait for the next market up day. 🙂

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. Woodshedder

    Anon- I would think about covering some at 68.00 I have support at 65.00

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. calvino

    Van – I posit here, that noone is going to give Seattle Four Eyes any money to pay 60% takeout premiums. He is starting to believe his own goofy babble. That deal was announced cash, as far as I am concerned.. it is dead.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. Thanks Wood

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. ottnott

    Cramer has NO IDEA!.

    And neither do the mortgage crack dealers who got us into this mess:
    Merrill Lynch senior director Sarbashis Ghosh, in a session on RMBS research: “It’s not a subprime problem, it’s a housing leverage problem … we have people with a mortgage who simply cannot afford to make their payments.” Ghosh suggested the solution was “to address the question of leverage,” and went so far as to suggest something like a food stamp program to help borrowers with payments.
    http://www.housingwire.com/2008/02/04/asf-update-said-and-a-few-thoughts/

    Billionaire (and buyer of American Home Mortgage) Wilbur Ross thinks that the government should buy a 1/3 stake in any restructured mortgage loans.
    Plan appears briefly on video here, but well into the clip: http://www.cnbc.com/id/15840232?video=638747521

    I’d call that Brave Sir Robin capitalism.
    Brave Sir Robin ran away.
    Bravely ran away, away!
    When danger reared its ugly head,
    He bravely turned his tail and fled.
    Yes, brave Sir Robin turned about
    And gallantly he chickened out.
    Bravely taking to his feet
    He beat a very brave retreat,
    Bravest of the brave, Sir Robin!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. calvino

    Wilbur Ross showed himself a complete piece of shit – he’ll buy the monos if Joe Taxpayer guarantees his losses. Up yours with a power tool, Wilbur.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. Alvari 40

    Closing all my shorts (retail and inverse ETFs) and going long Ultra Russell UWM. We rally hard into the close.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. calvino

    Go Huck – Go WV Mountaineers. Down with the MBA presidents.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. Alv,

    Didn’t you buy 30k SIRI the other day?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. Filthy McNasty

    ot,
    No idea indeed.
    Ghosh deserves some kind of award for keeping a straight face while saying that.
    Nice of him to offer to fix the problem w taxpayer$

    An asshat of the minute award or maybe a FUA award
    http://www.youtube.com/watch?v=zdtWIwDy2ZE

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. JakeGint

    Yeah, let’s get a folksy preacher as our nominee.

    That ought to sell well in the MSM after George.

    Lot of “change,” etc. And you have to love his “cap CEO pay” idea too. A real “progressive” this one.

    “A vote for Huck is a vote for McCain.”

    As long as you know what it is you’re doing, Huck fans…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. Alvari 40

    Anon,

    No SIRI here. I did load up on AAPL, SBUX, and DIS – FWIW.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  22. Just curious about your investment style. Thought you rolled out of shorts the other day and into SIRI and now out of shorts for UWM. Day trade or swing trade?

    Thanks

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  23. CubsRock

    Moody’s Expects More Downgrades for Homebuilders in 2008 As Industry Continues to Languish. Nice call Daniel Oppenheim, I should short BAC just in spite.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  24. calvino

    Were you really surprised by the market reaction to the IsM?…Maria Bartoromo.. I got something better than a mike to put in your mouth , Bimbo.. what freaking world do these freaks live in?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  25. Alvari 40

    Anon,

    No SIRI play here – must have me confused with someone else. I rolled out of longs and into inverse ETFs on Friday Morning. I added retail shorts at the start of the day today. I then closed those positions at midday and went long UWM and XLF. All short term chart reading waiting for the market to decide WTF it wants to do. Using 15, 30, 60 min charts. Not married to any positions for any length of time (except for AAPL, SUBX, DIS, APA and JCOM).

    • 0
    • 0
    • 0 Deem this to be "Fake News"