Capitulation

That’s it. It’s (the battle) fucking over. The stench from the banks have, finally, worried enough people to cause a stock slide. Even the energy sector is beginning to sell off, with exception to bullshit energy stocks like [[ROYL]], [[MXC]], [[FPP]], [[SYMX]], [[BDCO]] and a myriad of fucking coal stocks.

During today’s trade, I covered more of my [[FED]] short. It is a slight concern that Barry Rosenstein from Jana Partners keeps buying the stock. He has an excellent track record.

Nonetheless, betting against the banks, whether it’s FED, [[DSL]], [[FHN]], [[CORS]] or others, is still my best and favorite trade.

Just today, I started to short the cowardly cowards from [[COWN]]. It’s a deal house, in an environment where there aren’t any deals.

Bet against them all. My list includes: [[JEF]], [[TWPG]], [[PJC]], COWN, [[EVR]], [[OPY]], [[SMHG]], [[PLCC]] and [[SUSQ]].

In short, the above firms are the bottom of the barrel, when it comes to asset management. They need deals to make money. Without them, they will start to bleed capital, in the most egregious fashion.

I bought 3,000 [[WB]] @ $23.05.

Disclaimer: If you buy WB because of this post, “The Constanza trade” will cease to work. And, you may lose money.

I sold short 5,000 [[COWN]] @ $7.85.

Disclaimer: If you sell short COWN because of this post, by next year, your monthly electricity bill will be north of $5,000. And, you may lose money.

I sold 1,000 [[BTU]] @ $78.05.

These fuckers (the banks) will not stop going down. They’re getting “clown stomped” on a daily basis, and no one seems to give a fiddle. Everyone is too busy bidding up coal and steel stocks to worry about the financial integrity of the fucking world.

Who cares, right?

Much to my chagrin, I have zero [[SKF]]. In addition, I have zero bank shorts, aside from [[FED]].

See, this is a perfect example, at my expense, of what happens when an investor tries to get “cute” and attempt to “milk Mother Market.” I hate the banks, yet I wanted to sell them at higher prices. Isn’t that nice?

Pure asshattery on my behalf.

To rectify the situation, I will be forced to sell short some small stupid regional bank, worth killing.

Coal stocks are up, yet again. My small position in [[BTU]] is responding nicely. However, other stocks like [[PCX]] and [[MEE]] are “homo hammering” the competition.

The general breadth of the market is weak. Taking a step back, I believe the market is 10-15% overvalued. Quite frankly, stocks have no fucking idea how badly they’re about to get beaten. Wait until municipalities try to balance their budgets. Just wait.

All municipalities peg their construction expenses to the CPI index, like the fucktards that they are. The only problem: raw material expenses, for concrete, steel and copper are through the roof—at least 3x what the CPI reading has been. As a result, construction projects will either grind to a halt or municipalities will have to make up the short fall—somehow.

In other news, [[CHL]] cannot hold up. It’s weak/stupid and wants to trade down.

On the other hand, the refiners were upgraded today. From the group, I like [[VLO]], [[TSO]] and [[HOC]].

NOTE: With natty [[UNG]] gapping higher today, look for the consumer to get claw hammered by their local utility, sometime soon.

And I forgot to where my gold chain.

Here is a partial excerpt of some of the shit that was said at this egregious party, in Brooklyn, for kids, mind you:

“Whoa, the nerve of you, Mr. Fly, comin’ ova here with no chain or tan. What you live in a fucking igloo or somethin’? Ova here, we gots lots of gold rings and rope chains to go with our bronze skin. Wouldja like to have a salsich and peppas samwich? While you’re at it, why not grab yourself one of those fountain sodas ova there?

“The fucking kids love it.”

In other news, the market will get elephant stomped this week.

Watch yourself.

Developing…

UPDATE: The entire redneck state of Oklahoma has been banned, on all iBC blogs—except the PG and Wood. You can thank “Scum Bucket” for that.

The infamous iBC purge of 2008 aka “The New Mariel Boatlift” has begun.

Developing…

[youtube:http://www.youtube.com/watch?v=tGLK0-8KHIo 450 300]

Never bet against the guy with the time machine, fuckface.

The Dow traded lower, as predicted.

Off to drink some “rich mans whiskey.”

[youtube:http://www.youtube.com/watch?v=t997hlTqepw 450 300]

Just go long, dumb man. Go long.