Where shall I begin?
Chinese output increased for the first time in 6 months, at the same time everyone in the U.S. is unemployed and/or homeless. That’s odd.
Ken Lewis of BAC is a lying sack of southern pecans. And, finally, Congressional mandated fraud, via FASB rule change, is giving a lift to stocks, particularly banks, early this morning.
For the moment, I will put my sour grapes to the side and attempt to recover some of my erroneous losses in FAZ/SRS. Although it sucks to be on the receiving end of a “fuck you, you’re dead” rally, I am only long 2,000 shares a piece.
After things settle down a bit, I will start nibbling at some semis, starting with a little USD, then some more SPIL. In addition, I like the action in TQNT, TER, KLIC, NIHD, CIEN and maybe a little EZCH.
In short, I might just start buying shit, with both hands.
Stay tuned.
NOTE: The action in crude is extremely bullish. For the moment, I want no part of oil shorts. Instead, I may explore some longs.
UPDATE: I bought 2,000 ERX @ $26.67
UPDATE II: I bought 2,000 EZCH @ $12.95, 5,000 CIEN @ $8.62 and 5,000 NIHD @ $16.60.
UPDATE III: I bought 5,000 ISIL @ $12.40
UPDATE IV: Long another 2,000 FAZ on an average down @ $17.15.
If you enjoy the content at iBankCoin, please follow us on Twitter
Oil shorts having their cocks chopped off. All shorts are being fucked good and raked over the coals. We are off to 10,000! MVIS anyone?
T MOE jumps back on and shorts GS at 115
Awesome!
My question: Typically a novice investor (cough myself) would sell out of Faz etc in a scare. Are you just going to hold them or you going to ditch them? Curious what someone like you would do.
Apart from that “tips hat” thanks for the SPIL play got in at $5.95 and smiling.
Cramer just said the depression is over. What a fucking joke. Did he ever say we were in a depression? Even if he did, funny that he would say it is over. You wouldn’t see him say that on a down day for sure.
Cramer says the banks have bargin basement assets!!! Ha Ha Ha
poof! everything is just fine. buy buy buy buy
Cramer says the bottom is in, buy buy buy
Follow Jim and become rich
Wanna hear something funny?
Yesterday some CNBC shill host was talking to a floor crude trader and he said, “We’re surely going to test $40 in he next few days.
The millisecond after I heard that, I jumped into dxo.
It was obvious that that shit wasn’t going to happen. That trader was a horrendous liar and it was easy to tell listening to him.
See. Watching CNBC sometimes pays off.
T MOE buys more TBT at 43 to add to his position.
I know thats going against the Fly and his TLT call but let’s see who wins
Bullshit…I guess it is a beautiful day in the fuckin neighborhood. Dow 10,000 straight ahead.. I’m, going to 3x inverse it till i’m broke because it makes sense.
this is what I have never understood in my stock trading lifetime.
you get these reports that should mean something, and they don’t
example, just the other day they announced that CROX was a “going concern” and that bankruptcy was a possibility. now this was just last week, the stock only traded down to 1.00 and now, just one week later the stock has jumped up 50% to 1.51? so reading all the articles, I stayed away, I was thinking about buying a little since they were still here, thru all the fuckery of 2008 and it’s spring time, and they make sandals, but after reading all the articles, stayed away….in one week, could have had a nice 50% profit? this bullshit is what just blows my mind. if they are near bankruptcy, whos buying the stock?
again, I was looking into DRYS last week. it also had some articles written about bankruptcy and illiquidity. so I stayed away from it, it had dropped to low 4.00 range, after reading the articles, thought I’d better stay away, plus all the talk over the last few months of not meeting covenants etc. now, with talk just last week of DRYS as a going concern I stayed away……it, now just 5 days later, again, up 40%+ to 5.79……..
maybe I should just take every article I read as a manipulating lie to jerk a particular stock around to the analysts secret direction? fuck, I don’t know.
and I thought Citi was 100% insolvent, and GM was 100% going into bankruptcy? now those fuckers are up again…
this market here lately is the worst in manipulating fuckery that I have seen in a decade.
Isn’t Lewis a lying sack of shit. I don’t really know how the useless fucks at CNBC don’t pick for his most obvious dishonesty.
The fuck said that he didn’t want the first tranche of TARP as he didn’t think they needed it but they took it because they had to: forced to. He then says that he needed the second tranche because of the Merrills fuck up that they were asked to proceed with.
So the obviously question then is why would he need the second dip when you said you didn’t need the first.
Those guys are truly fucking stupid.
Sucks to be a perma-bear, doedn’t (sic) it?
One minute, you’re rattling your cane impotently at “whippersnappers” who’ve dared to kick their soccer ball onto your immaculate lawn, and the next you feel the wind whistling past your hair-tufted ears as you plummet down the dark, cool elevator shaft.
😉
__________
got FAZ at 16.74
No point in getting mad. Just recover from losses and move on.
Admit it Jake, you probably feel a lot like I do. Danny Glover-like at the end of Predator 2 after just slaying the alien. Its dark, foggy, a little cold but mainly damp; your shirt is ripped to pieces and you are perspiring like a fat man at a summertime hotdog eating competition. Suddenly out of the fog steps an army of your would be murderers only to hand you a peace offering instead (B movie DVDs and a iPod). At this point you just want to run the F away before you get flame roasted by a rocket engine.
something strange will happen today
Jake, what’s up with the miners this morning, eh? Talk about getting taken to slaughter.
Explosively welded gains! Huzzah!
Watch out if UYG breaks 3 and FAS breaks 7. FAZ and SKF holders(like me) will have to hold on tight-wheeeeeeee
Bought 3000 MON @ $79.18.
Hey JAKE, how’s gold looking this morning?
Damn FLY, that highly strategic SRS play of yours is on fire! How’d you get so smart?
S&P 874 next stop…just like I said. Gold $600, SRS $30s.
@Dr. Incognito:
Every time that happens to me, I think “Man, I didn’t learn anything from the last time this happened”.
I just fell into a dark empty elevator shaft. Too many short positions. Long a ton of FAS but my long SLV GLD GDX and banks shorts are killing me. Maybe I’ll back the truck up on FAZ here. Still 50% cash though.
T MOE decides to put more cash to work today
T MOE buys more SRS at $50 to average down.
I am holding on to all of my position in this fucker until it goes back to and blows through 75
These big, early rallies give me great entry points
Loving your SPIL recommendation atm, Fly rox!
Devildog said MON would hit 95.00
earnings came out, they weren’t bad, but someone did not like it, down in the red today now at 81.45
and someone smarter than me (which might be everyone here)
answer me this.
today was a day everyone was waiting for, the mark to market ruling.
now that that is over, and the direction has been indicated that they will move in on the ruling.
Is this the last of the big news that the market as far as banks are concerned will have?
in other words, after today, is there anything else that will cause the markets to spike that we will be “waiting for” or is this it (at least for awhile)
comments welcome.
faz to 35
uptick rule
One key person on this board is a sheeple !!
Don’t look to IBC for leadership. Followship more like it.
as DD said – 875 is next target, we most certainly hit 840 today. DD, do you have a web site? FAZ-ers, SRS-ers – be ready to get more losses. Ah, forget it, you are f*cked!
T MOE shorts MS at 24.30. She is not taking part in this rally
Anonymous
Faz won’t go anywhere that this BULLshit herd doesn’t want it to go! Fundamentals my ass it is pack mentality based on manipulation. it must be. What is the good news driving it???
So my dog and I were looking over this and figuring that M2M changes don’t do anything but wallpaper the basement.
So the dog says have some balls and just remember, unemployed people don’t buy shit at the mall….SRS..and a little FAZ for some Alpo gourmet…
He hit me with his paw and I pushed the button
Artist, watch and learn. Idiots like you are so easily manipulated by the big money. Too funny.
You guys buying SRS and FAZ are going to lose. You might as well buy GLD and SLV like FLY and JAKE if you want to throw your money away.
Shut up jackass.
You were the big booted clown who was saying the S&P was going to 150.
Before you make a further asshat of yourself, perhaps you should remember your previous lies.
mustardseeds,
The pros will figure this out a little bit later….they are not as smart as your dog. FAZ to 35
The most interesting thing is yet to come.
I’m not a bigshot. Still mostly cash with some ROM (22.60), ACAS (2.27) (thanks Alpha),DXO (2.62) and AZK, and just got stopped out this morning out of AZK (entry 4.30, Tues).
However, the VAAAAAAAAAAAAST majority of longs will not get out in time when this pump is finally dumped.
I guarantee that we will see a -1000 (-75+ SnP) intraday castration when the music stops playing. All the longs who didn’t get out by then will get obliterated.
Oh. It will be a glorious sight.
Who will shout *fire* first?
Hey Artist, I’m up over $10K on my MON buy this morning so far. How you doin’? LOL!
banks loosing steam
good move, i have looked at it few minutes ago to buy puts but saw it down significantly from high so i did not do the trade.
I like how DEVILDOG’S obnoxious assholery is matched only by The Fly, himself.
DD, that’s what I’m doing…..the watching is going well the learning is going nowhere….the shit flip flops every 30 minutes.
one day the news is all doom and gloom, the next they act as if all the doom they talked about the previous day was never said and the following day the news is all rosie and sunshine forever and the very next day the market turns red and the doom talk is right back…..
it’s bullshit and you know it.
and as a ex explosive defusing experts will say “there is nothing such as a dumb question” if you don’t know, ask it…..
by the way hows the F430 running? had the left bank crap out on you yet?
MS is starting to bleed. Watch them for a tell.
Ddog
Paper accounts don’t count. What are you 12 years old. High school gets tougher little feller
GAPPY – Good call on MS. While the overall markets are above their open, financials are well below theirs.
Artist – Hunter S. Thompson said in 1973 “If I’d written the truth I knew for the past ten years, about 600 people—including me—would be rotting in prison cells from Rio to Seattle today. Absolute truth is a very rare and dangerous commodity in the context of professional journalism.”
Think it still holds true today? I vote yay.
Fly, I feel sorry for you. You really don’t have a fucking clue. It’s a good thing you’re having a career change and leaving trading to winners like me that have a brain. I told you in FEB we would rally to S&P 832 in March. You didn’t listen…tuff shit. I said last week the next stop would be 874. You didn’t listen…tuff shit. I said for a long time gold to $600. I told you agin yesterday that your GLD and SLV call was fucking bullshit. You didn’t listen and gold is down $26 today and Silver down .30. I told you SRS to the $30s…you didn’t listen…tuff shit. I told you S&P 150 and a multi year DEPRESSION and that is still my call. You have no sense of timing. You suck!
Shut up already. You little 4 figure account trading piker.
SFLY over 10 today or suck my own thumb!!
FLY………LOWER BOLLINGER BAND ON FAZ IS NEGATIVE 12 DOLLARS……WHEN IT GETS THERE DO YOU HAVE TO P A Y THEM 12 DOLLARS OR DOES IT JUST GO TO ZERO???
to MOE Says:
as DD said – 875 is next target, we most certainly hit 840 today. DD, do you have a web site? FAZ-ers, SRS-ers – be ready to get more losses. Ah, forget it, you are f*cked!
April 2nd, 2009 at 10:20 am Vote: Add rating 0 Subtract rating 0
Sorry, no site. I’m waiting for the Fly to wise up and add me to his.
GET 500% LONG! The bottom is in, indeed!
Jake, what’s up with the miners this morning, eh? Talk about getting taken to slaughter.
All according to plan, my good man. Miners cannot be “the pick” while all this wahoo fuckery is going on.
Use the next three weeks wisely, and take the “wahoo” and turn it into positions in miners (GDX, SLW, PAAS, EGO, AUY, GG) and pure positions (SLV, GLD) and some royalty plays (RGLD is the “diamond edition,” imho).
I actually grabbed some “Wahoo!” this morning and bought 40 MONEO’s (MON May 75’s) at $9.50 and $9.70, and I will ride that for a very short time.
CRAAPL breaking out too…. use this time to raise cash people!
______________
The Fly Says:
Shut up already. You little 4 figure account trading piker.
April 2nd, 2009 at 10:41 am Vote: Add rating 1 Subtract rating 0
Is that all you got? Sad. How much you losing today dipshit?
Why are you hanging on to SRS. You’re walking a plank, just like FXP when it broke down through $60. Just like SKF did today.
Hey JAKE, how’s gold looking this morning?
Like the treasure of Sierra Madre, you incredibly stupendous contrary indicator.
😉
____________
Devil Dog
Stfu you useless fuck. Get back under that rock and stay there.
…expecting the rigid rod of reality to start making an appearance shortly…
gappingandyapping Says:
GET 500% LONG! The bottom is in, indeed!
***************************************
I told you that Nov 20. And as early as 2-3 days ago, the shit-for-brains here were SHORTING a bull run, with hundreds of billions being pumped into the financial system globally.
Geitner will replace more CEO’s if he feels like it. WTF?? Where does he get off!! Could happen any day. Washington picking CEO’s Just Fuck! Makes you bullish and confident. I’m all in!!!
Query: Is the title “Honk-Honk, Beep-Beep” the sound of overcrowded clown cars bowling over bears?
Yeah Generational, you said that in NOV and we hit new lows. This rally is built on this bullshit mark to market relaxation. government mandated fraud indeed. Ha Ha
Now they are saying that the mark to market will apply to the legacy toxic assets for the first quarter only?
look at the last rally from the NOV turning point. It was a rally going into earnings for the 4th quarter. Much like this one it was led by financials. Once the earnings started coming in the rally fizzled and we began the next leg down. Will this rally be the same?
Why are we giving more of our money to the IMF. good move go ahead and borrow more to give the money to the IMF. Lunacy!
Quite a bit of “fuckery” as the Fly christens it, is afoot. Yes there is technical support for this gummybear rally to go to 870. And someone with big pockets is “betting” it will go there in the thinly traded hours. Look at the price action – almost entirely overnight and in the first 15 minutes of trading.
This is not the price action of sober green-eyeshaded types who expect to be paid dividends. This is the action of coked-up 26 year old ivy grads who high-five each other and shout “booyah”. The accounting change was entirely expected. Nothing else has changed. If you levered your trades poorly or set limits such they you’re getting shaken out of your position then you should not be trying to short a bear market rally with massive intervention by gov’t and large corporations. For the rest of us, time is on our sides.
Mr market is saying “meh”.
Daytrade short MS 23.81-going with TMoe on this.
BAC and C, canaries in the mineshaft?
Covered MS 23.45.
Nervous daytrader here.
@TheArtist
You are making a very understandable error in thinking stock market prices have a direct relationship with the news. What you see from market journalists is a sort of post-hoc rationalization for why the market moved. Ponder upon the axiom – buy the rumor, sell the news.
The lesson is right underneath your nose. There are wild swings which have no relation to the information you have on-hand. Several conclusions may be drawn. Some of them might even prove correct in the end. One is that you need different information sources. Two is that price changes can be quite arbitrary, or at least seem that way because other people are making trades according to criteria which are either wrong or which you do not understand. Three is that if you predict the ranges correctly, a volatile, range bound trade can be very profitable until one day is very much isn’t…
This is the action of coked-up 26 year old ivy grads who high-five each other and shout “booyah”.
That’s awesome. My only small edit would be to include an exclamation point after “booyah!”
_______
we wouldnt need the fly if we just did the opposite of everything on tv. but we do and we dont… I DO