If the bulls want to make a statement, they need to rally the market today. However, there are many headwinds in their way, specifically end of quarter fuckery.
Once again, fund managers will start window dressing, selling off losers, while loading up on winners. Expect the ag/energy related names to hold firm, while financials drift lower—specifically regional banks.
See, the regionals are fucked every which way but loose. No one really cares about them. The Fed is concerned with the big money centers and brokerage houses. Bernanke could give two flying fucks and a gay horse about [[FMBI]] or [[EWBC]].
Right out of the gates, I covered my [[CSE]] short, for an egregious gain. It really doesn’t matter how much lower it goes from here. The point is, I had a gameplan and I am adhering to it.
Let me tell you something, quit pebbling me with [[MVIS]] questions. I’m in the name for a trade, nothing more. So fuck off.
Right here, I want to wait an hour or two, prior to my next big move. Barring a rally, I’m going to lean on the fuckers from [[HRB]], [[FMBI]], [[PACW]] and [[CYN]].
I cannot find stock available to short [[EWBC]].
In addition, I like tech here, as a short—via [[REW]].
Once again, this is the perfect rally day for the bulls, so be on guard.
On the long side, I like [[RIG]], [[PCZ]] and MVIS.
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i don’t think they can bounce it.
i also think, after RIMM tomorrow, the nasdaq goes down hard. unless the oil and gas fairy appears and crude goes down to 75.
Oil and gas fairy at your service. Note that crude’s “natural” or “intrinsic” price is $50/barrel, as opposed to the price agreed on by buyers and sellers in the open market. Naturally, new legislation is required to “ease” prices to the correct level.
Get long around 1300 s&p, we seem to be going straight to it.
KRY GRZ
Headwinds, indeed.
Tomorrow: Fed interest rate decision; MBA Mortgage Application Survey for week of 6/21; May durable goods; May new home sales; crude oil inventory numbers for last week.
Wednesday: Q1 GDP and jobless claims for last week.
Going long in this environment is a fools errand, imo.
Trannies getting hit again today like they’re expecting higher oil after inventory numbers get released tomorrow. Maybe we break $140 very soon.
Thanks for the research.. I would add PROV and KFED. The casinos are acting like we entered a recession. Perhaps because we have. Las Vegas reasl estate market is as bad as any in the country, however those new casino bonds still have to be paid. Additionaly, MGM is building a 7 billion monstrosity in Vegas.. the timing could not be worse, and it will take business away from others, if it ever gets completed, although that’s up to Deutches Bank.. There is another bank with a big Vegas exposure that will be taking losses. I have long advocated the short and reiterate WYNN, LVS, MGM, IGT.. on any spike up, or ease into the position very gently here. Congratulations on your wins, fucker.
UBS may end up being owned by the Chinese? Outrageous.
if you’re shorting down here you’re just stupid. oversold going into fed, too easy. to hell with the vix being ‘too low’
Thoughts on BWLD down here now that the gap has been filled?
Agreed, rick.
thanks rick. just covered those shorts. you are a good egg. how’s your brother there in Naples?