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
23,439 Blog Posts

Fly Update and Thoughts

“The Fly” had a long weekend and is in no mood to think. I’ll just shoot first, ask questions later.

My [[VLO]] bottom fish appears to be going well. Under normalized conditions, [[VLO]] can jump 20 points from here. In addition, [[RIG]], [[SU]] and [[ARD]] are rallying—all good things for Senor Tropicana.

[[BAC]]’s fraudulent numbers have exacerbated the ongoing short squeeze. I knew this shit was coming. Too many noobs were short banks, drying up all the shares available to borrow. It looks like the [[BAC]] news may have topped out many of these fuckers. As a result, I sold the [[RKH]].

No more hedges.

My short positions are underperforming, as strength in [[PACW]], [[VLY]], [[TEX]] and [[HDB]] plague me. However, I do have three shorts that are down: [[VMC]], [[HRB]] and [[WABC]].

Ethanol stocks are ripping, yet again. [[VSE]] is my favorite in the space.

Gold is going to break $1,000. You have to love the action in [[DGP]].

My riverboat gambling position in [[CLNE]] is working. I will not sell into this rally. I will hold that stock, through good and tough times, for at least 1 year. It has massive upside potential.

[[GME]] blows. As much as the assholes on CNBC talk “bottoms,” the economy is still in the shitbox. Remember that.

[[FTK]]is about to go open field on you bitches, who are short.

[[DECK]] is next to blow chunks.

In short, the market is trying to straighten itself out. Basic resource stocks are gapping higher, while banks start to fade. That makes sense to me. At the present, I believe there are a plethora of rich bank stocks, that can be shorted. As always, you can go the ‘lazy man rout’ and buy [[SKF]]. Just be prepared to buy more at $120, because you never know what the government is going to say next.

NOTE: As you know, the comments section of iBC was down, earlier today. I turned them off because I have a headache. You fuckers talk too much. Don’t you have work to do?

-The internets never lies.

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18 comments

  1. calvino

    Bob Chapman has traded more gold than anyone. He has interesting perspectives on life. Buh bye buck.

    http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Toxic_Waste_Offerings_to_Offset_Big_Losses

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  2. CubsRock

    XLE is strong, looks good over $78.50

    Looks like your long energy, short banks shit is going to keep on working. Guess we’ll know once oil is done consolidating.

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  3. j

    I think a better trade for gold is to sell it against the Euro. It looks like a better deal on the charts.

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  4. Jakegint

    Technically, shouldn’t Bruce be “Senor Tropicana?”

    _______

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  5. Big Mike

    Whoa…RIG up 1%; Whoopeee Dooo…This calls for celebration. Break out the $9.99 champagne.

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  6. Barkley

    In SanFran not too long ago and something like 70% of the taxis I took were running on Natural Gas. Shit is cheaper to use to fill up with, with oil so high.

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  7. jeff

    Time to move to Paraguay boys.

    This country is going under.

    Prepare for martials law.

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  8. stupidity rules

    Bought 10 23 xlf puts at 2.31

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  9. Jakegint

    Jeffrey —

    We think you’re odd enough. There’s no help in giving us “Boys from Brazil”-type favorite vacation spots…

    _

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  10. calvino

    covered the crm.. we will meet again, pig.

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  11. jeff

    Jakegint – get to the Paraguayan acquifer or die

    http://www.dailykos.com/story/2007/4/28/2544/07385

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  12. Jakegint

    Jeff —

    Links to the BDS nutbags aren’t helping either.

    ___

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  13. jeff

    Jakegint, you may have head-in-hole syndrome

    Go watch fox news and stop harrassing me

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  14. Richard Head

    Jeff – Will superior numchucks skills suffice in Paraguay?

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  15. Jakegint

    Oh, I get it now. You’re watching quite a bit of teevee, then?

    Sorry to interrupt, Jeffrey, I’ll let you get back to your Mom’s attic garret for “further research” now.

    _

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  16. Aris

    i think WM and WB will cook up some shenanigans as well.

    BAC saying countrywide is going to be profitable? sure. in fact, my own models have countrywide posting double-digit growth for the next 83 years.

    what better way to boost deposits than with a bunch of $600 checks…

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  17. Anton Cigur

    Interesting “piece” on leveraged ETFs like DGP. Woodshedder addressed the apparent paradox of these “things” for the sudoku sliderule set some weeks ago. I’ve made money with them over short periods, but I never sleep particularly well until I sell them. http://www.hardassetsinvestor.com/component/content/article/726.html

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  18. largebill

    “Don’t you have work to do?”

    Nope.

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