iBankCoin Presents: The Option Addict

“The Fly” will be out on important business matters today. Unbeknownst to you, he left me the keys of iBankCoin.com and asked if I would be willing to guest blog for the afternoon. In short, I accepted.

I’ll be providing 3rd tier content throughout the day to give this site a frank and authoritative feel. Thanks “Fly.”

[youtube:http://youtube.com/watch?v=yUrZ7upfvq8 450 300]  

[youtube:http://www.youtube.com/watch?v=uUaP7LoppGw 450 300]

If you are bullish, today was a tough day. Initially, it had all the makings of a monster day, led by banks. However, as I said before, buying the dips is no longer a viable strategy. Instead, you have to sell the rips.

Naturally, I mean: sell short stocks, with impunity.

During the day, I shifted around a lot. I took profits in a variety of shorts, while bulking up on others.

Currently, I am short [[TCB]], [[FMBI]], [[WFSL]] and [[HRB]]. And, I have a big position in [[REW]].

Additionally, I will look to reenter short [[PACW]], [[EWBC]], [[CSE]] and [[CHL]].

Don’t be surprised to see the market rally tomorrow. With my money, I will patiently wait for things to go my way, since it’s inevitable.

Remember, “The Fly” wins all the time, even when he appears to be losing, badly.

Top pick: short FMBI

Poof. Your bullshit rally has vanished.

-Merlin

[youtube:http://www.youtube.com/watch?v=kXOLjOI0cT0&feature=related 450 300]

Ongoing.

I sold short 2,500 [[TCB]] @ $12.90 and 1,000 [[FMBI]] @ $20.05.

Disclaimer: If you sell short the above stocks because of this post, the next time you are in a public urinal someone will punch you in the neck, while you are relieving yourself. And, you may lose money.

The Fed decided to do nothing. However, Fed Governor Fisher did dissent. That fucker wants to hike rates.

Here are my thoughts:

Under normal circumstances, when the Fed raises rates, the markets go higher, due to a strengthening economy. However, because of inflation, any rate hikes will serve as a response to runaway inflation and not to stem robust growth.

So, I think it’s fair to assume higher rates, while growth slows—leaving the market fucked until further notice.

With regards to today’s action:

Always fade the initial reaction. I would not be surprised to see the real move tomorrow. As a result, I have decided to do nothing, content with my current blend of market mastery.

All I can tell you, with the confidence of a lion in a rabbit cage, get long crude, via [[RIG]].

It will rip your face off. When are you fuckers going to learn?

Fucking shit, crude has been spiraling up for like 5 years and shit. All of a sudden, you believe it will tank now, ending the oil crazed boom just like that?

I don’t think so, fuckface.

Like I always say, when speaking of oil, there is some grand transfer of wealth scheme taking place, from west to east, that we weren’t invited to. However, I am crashing the party anyway, getting long [[RIG]], [[PCZ]], [[ARD]] and [[FTK]] on pullbacks.

Betting against oil is equal to trying to defeat a level 100 Donkey Kong (I have no idea what a level 100 Donkey Kong is, but is sounds fierce). That fucker will just throw barrels at your dumb ass, effectively ape raping your portfolio into oblivion.

Regarding the banks:

They are bouncing. Big deal. I am not impressed.

God willing, I will be gifted another chance to bet against them, at much higher levels, much to Doug Kass’s chagrin.

As you readily know by now, the infamous iBC machine is out to destroy “The Fly” with its bullish ways. That fucking machine, I tell you, has been bullish since inception. On sharp one thousand point pullbacks, it registers a “neutral” reading. Now, with the market gapping higher, and “The Fly” net short, it’s only a matter of time before it registers another “bullish” reading, effectively annihilating “The Fly” and friends.

Looking at my position sheet, I want to throw a bowl of soup at it. It’s ugly. I am getting lit in all of my “fucked banks” and my fucking oil plays.

In all honesty, as opposed to being outright dishonest, during yesterday’s tape I had an urge to just go “Costanza” on the market. Meaning: just buy banks and retail. You know, do the opposite of what is logical.

After all, we were due for a bounce.

I should have known better, after reading the “scriptures” of legendary investors, like “Devil Dog” and “Patrick,” the market was ready to move against me.

So, here we are, the moon, stars, sun and the iBC machine are perfectly aligned, dishing out 100mph baseballs to “The Fly’s” scrotum, in an attempt to “deball” him.

Due to today’s run, I covered several shorts. At the present, the entirety of my short exposure includes: [[WFSL]], [[FMBI]], [[HRB]], [[REW]], [[TWM]], [[DUG]] and [[EEV]].

Mark my words, this war of coin is far from over. “The Fly” will regroup, reload and shatter his enemies, after he is done drinking his Monster Energy Soda.

Developing…

Several hours ago, I ate a joozy steak.

Developing…

Godly Wisdom Update: This video applies to many of you fuckers, anecdotally.