The brokers are really fucking the market here. Rumors of mass Exodus at [[MER]] are destroying their shares. I can tell you, when times are tough, brokers love to leave their employers, in exchange for a big fat signing bonus at another broker/dealer.
The incentives are huge, typically 100-200% of the reps trailing 12. So, a million dollar producer can leave MER for [[MS]] for a quick 1.5 mill. Hell, in this market, up front money is very enticing.
With my money, I shorted more [[LEH]] today, mainly because I can.
The general feel of today’s tape was extraordinarily bearish. It’s this sort of tape that reminds asshats, who suck the balls off of [[GE]], that we are in a bear market.
As for me, I kept most of my longs, with exception to [[FMCN]]. I sold out 3/4th’s of my FMCN position, mainly because it did not respond to BIDU‘s numbers.
I will be looking to buy a few energy names, over the next few sessions. Too many jerkoffs are short. I will take their money, then kick them into an active freeway of mud stomping bulls.
In closing, “The Fly” feels like a fucking douche for covering his bank shorts the other day. In order to make up for this “pussified behaviour [sic]. he intends to punish the shares of [[TCB]], [[MI]] and [[LEH]], while living lavishly off of gains in [[SKF]].
If you enjoy the content at iBankCoin, please follow us on Twitter
Barton likes the banks and B/Ds.
Just saying.
fuck me for not buying some SKF yesterday when it was 113.
Barton is a total fade…..he is a mental case….stuttering on cnbc just now saying how bullish banks look….LMAOOOOOO
Good volume at the end for WM… No way WM goes lower.
CROX….going out of business sale. Misses earnings at 42c EPS then has the balls to lower guidance to 1c to 5c EPS.
Crocs are some ugly shoes. Fad just like…LA Gear.
Where can i get real time data on %of float sold short? Yahoo finance has it but its stale.
Cardiff_Giant,
Try
http://www.shortsqueeze.com/
Stevie Wynn beat on the back of Macau earnings. I would like to listen to the call, however seeing or hearing an senventy five year old douchebag who calls himself Stevie is beyond my capacity. Let us ponder the win. We all know the macro factors, that the Chicoms are down fifty on the Shenzen and getting there on the Hang Seng. However as we speak, Stanley Hoe and fille are opening up den after gambling den in Macau, while Stevie himself is building a seven hundred mil Encore Wynn next to Wynn Macau. I would think that building on credit into a deflating market is not a salutary bizniz decision.\\
Vegas.. one word.. shit. Hotel room revenue.. down. Per table revenue.. down.. and not nice like before, but bad this time. Now consider that Guv Ahnold just cut state employees wages to minimum next door, until the state budget passes.. how many unworthy bureaufuks are coming over the state line to lay it on the line? Another 800 mil to be financed at Encore Las Vegas. Combined with the other six hundred mil for Encore Macau.. poof.. there goes your free cash. And if ya think some one is going to floating those bonds to ya.. ya got another think coming. But go ahead, you already committed to 2.1 bil share buy back.. so there must be great value.
I restate my thesis.. lvs, mgm, wynn.. bankrupt soon. Building into a downturn does that. The short squeeze has already given you all the money you are going to get. The shorts left are holding or bought at these gift prices. Jakey.. salut.
update..
short overnight.. usd/jpy.. usd/chf..usd/cad.. gbp/aud.
http://www.ibankcoin.com/peanut_gallery/index.php/2008/07/24/crocs-inc-announces-joint-venture-with-monsanto/
As good as The Onion if you ask me!
KC, i noticed that action in WM. obscene volume. it looks interesting for a trade. normally i’d expect it to open much lower tomorrow and catch a bounce after a selling surge, but with this anti-short sentiment flying around, i don’t really know what to expect.
The Romanian Says:
Fly,
I’m surprised there is no speculation regarding the msft/yahoo saga from you or any of your clones. What do you think of the latest developments? I’m thinking of buying some Aug and Oct $30 calls. I smell an imminent buyout offer in the works, but I’d like to know your take on it. Are you hearing anything from any of your sources as of late? Also, are you now buying MVIS since the secondary is out of the way? I’m in eyeballs deep on that one. TIA – and good trading.
aris-
you and me both brother, i ~almost~ bought @ 115, then i got called off to a meeting thru market close.
i am a fucking moron – sold my SRS (basis 83) yesterday as well.
so all i had today were my plastic explosive grade beta longs.
how do you think my day was?
Today probably did more damage to the psyche of this market than any other day this year. (JMHO) I believe we are now ready to face new lows for the broader markets.
Larry Kudlow is gonna have a freaking stroke on the air, people!
BTW, Where the Phuck is that little phuckphace that was in here pimping financials earlier this week?
I love this shit … I swear I do.
SKF
Feels Like Home
@Cardiff,
They only compile that stuff every few weeks. Shortsqueeze.com gets the info a few days earlier than yahoo, but not enough for a big edge.
Nasdaq has free short interest info here: http://quotes.nasdaq.com/asp/MasterDataEntry.asp?page=ShortInterest
NYSE charges for their data.
i hear that, null. i really expected this rally to extend to around 12,000 or so on the dow. i told myself i’d wait for the SKF to go under 100 before i’d pull the trigger. i guess that was a bit too aggressive.
/CubsRock shrugs, 3 for 3…
I used to feel alone in this world until I realized there are others who also want to see Larry “Enron” Kudlow snort his ass back to the demon masters who sent him here to poison the earth.
As for business, I bought EZPW at the close into earnings. Revenue grew at 25%, eps at 40%…..it’s trading at 17X trailing eps and like 2X revenue….WTF am I missing? It’s a pawn shop and check cashing retailer! Still can’t gauge the market’s reaction, they’ll probably slaughter me tomorrow for having the audacity to buy into earnings. Just thought I’d throw this one out there for those who think the economy is going to shit, but you’re so junked out on CNBC you can’t help but go long somewhere.
I’m off to go pawn my wedding band.
Calvin–
Looks like the market is not liking “Stevie’s” call! Salut, mah brothah.
___________
Donny: BTW, Where the Phuck is that little phuckphace that was in here pimping financials earlier this week?
Oh, you must mean “Anonymous Douchebag?” Like most cowards, that pussy got the hell out of Dodge (iBC). Either that, or he’s hiding behind yet another douchebag moniker. You can tell it’s him if you read a post that just screams “Douchebag!” at you.
__
As for business, I bought EZPW at the close into earnings. Revenue grew at 25%, eps at 40%…..it’s trading at 17X trailing eps and like 2X revenue….WTF am I missing? It’s a pawn shop and check cashing retailer! Still can’t gauge the market’s reaction, they’ll probably slaughter me tomorrow for having the audacity to buy into earnings. Just thought I’d throw this one out there for those who think the economy is going to shit, but you’re so junked out on CNBC you can’t help but go long somewhere.
Sometimes “GLANE” is a good strategy (“Go Long Absolutely Nothing, Ever”), but I know what you are saying.
Be careful of the “regulatory risk” on those shitbag check cashers. Every state and regulatory agency, plus the Feds hates them, and want them dead. So too does the Mafia, who hates that they stole their loan sharking business.
I am long WU, which is a more legally “acceptable” way to milk poor and immigrant fucktards without bank accounts.
___
Aris,
WM has a short float of 26%. Those bears cannot expect the stock to go down further and should be buying back. There should be no sellers at these levels, only buyers.
good point, KC.
http://techland.blogs.fortune.cnn.com/2008/07/24/juniper-jazzed-about-the-second-half/
they gonna poof my shit!!
Nothing is uglier than a bitter winner.
words uttered by larry kudlow on his show this evening:
‘penis envy’
‘pissing contest’
‘cox – if ever something should be a four-letter word’
aris-
yep, i was thinking 12000-ish too, and i was looking at a 95 ish entry on SKF
we are both fucktards – we should start a fund so we can lose other peoples money instead of our own
or maybe an etf…how does FKTRD strike ya?
“Those bears cannot expect the stock to go down further and should be buying back.”
Sounds like something the IMB and BSC bulls were saying not too long ago.
Disclosure: Short WM
hahaha count me in, null.
Fly,
I frequent this website a lot and actually believe you really do own a time machine. I remember earlier this year though, when it was on the fritz, and had you short for some very painful days. But after a couple of days you got it working again and very impressively went long against your bias.
So my question to you is, is your time machine working right now when you say stay short?
…
Ah, yes. Is there anything that leaves a worse taste in the mouth than covering a short in the blow-off portion of a short-covering rally?
Yes, there is. And that is being tipped in advance about an event that was very likely to trigger a short covering rally plus a mo-mo rally, but stubbornly staying short until finally covering in the blow-off portion of the rally.
I did that in FCEL in mid-2000. Wish I could say it was the last stupid thing I did, but I can only say that none of the stupid things I’ve done since cost me nearly as much as that did.
I vote for Aris as King of the IBC Art Gallery.
ottnott, my biggest mistake this year was buying FRE too soon before the real rally, panicking out when it turned against me, only to see it rebound more than 100% from where i got in a day later. i’ll never stop being pissed off about that. that’s what i get for trying to game gov’t fuckery.
Fluor (FLR) CEO has sold $1.73 million worth of stock this week. A sign of times to come to the construction industry?
Aris — well done! You will soon by vying for Jeremy’s “artist” role if you keep this up.
_________
My biggest mistake was last week, covering my SKF hedge (short the 170 calls against my entire position) without actually selling the SKF at the same time.
Worse, I could’ve “covered” that SKF short call position at “0” but paid far, far north of that on what I thought was a “rebound.”
Woe was me. Luckily I’m “the resiliant type,” (ie, “donkey Irish”) and I got over it.
__
that SKF is a tricky one.
Fluor, remember when…. They held a silly public contest to name the company. The 5 year chart hardly looks silly.