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
23,478 Blog Posts

Longs Party, 1887 Style

Pardon my tardiness. I was on a reconnaissance mission with some of my Somali pirate friends.

Someone just threw a hand grenade at my [[SCO]] position. I knew I would be early to the trade, as evidenced by PPT’s sell rating. I will buy more on dips.

So you fucking losers are having a grand ball, readying up for Cramer’s 1,000th show. Let’s all celebrate over a dish of waterbugs and rice.

Stocks are ripping higher, based upon the idea that the SEC will restrict short selling. Well, in my opinion, that would be horrific news for stocks, since short sellers provide a bid in a bidless market. Nonetheless, I am glad that I did not sell all of my longs.

I know what I am about to say will jinx me; but it’s worth noting, SRS, SSG, FAZ and short [[ACC]] are not gapping away from me today. The losses are rather limited.

Into this rally, I will refrain from adding to shorts. With some of my cash, I may buy some chips, namely [[TER]] and [[AMKR]].

NOTE: The insurance sector is now qualified for TARP funds. Some companies that were not, made some emergency bank acquisitions, in order to sucker punch the U.S. tax payer in the throat. As a result, the biggest dogs are running, namely: [[GNW]], [[PFG]], [[PL]], [[HIG]], [[PNX]], [[AFL]], [[SFG]], [[UNM]], [[AIZ]] and [[TMK]].

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24 comments

  1. Cash-N-Guns

    i knew you were doing recon on pirates…(last thread)- Fly thoughts on TYH here..looking like a grouper sandwich to me..

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  2. The Environmentalist
    The Environmentalist

    Over the last 5-6 days VE has shown gains everyday. What’s with it’s strength? Is Obummer buying a bunch of stock in it for future profit or what? I’m not complaining-I bought it at 20….. What’s the ole PPT have to say?

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  3. mrkcbill

    Don’t fight the Fed.

    Refi America’s new industry

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  4. skvm bvkkit

    Ponzi finance will continue until, well, forever.

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  5. mrkcbill

    Today has a WTF close written all over it.

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  6. Cash-N-Guns

    shorted CPLA @ 52- told my unemployed idiot neighbor..wants to repay with a BJ from his wife….hmmm- nah – will wait for their daughter to get home from work…

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  7. Marc David

    You called the Insurance Sector a long time ago. Being in trouble. Now they get funds. What sector is next on the hit list? They’ll get money too and I want to be LOOOOONG.

    Look for the next bubble and buy!

    “Refi America’s new industry” –> 🙂 Good one!

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  8. 4fl3x

    I don’t like your TER pick, not now. May I interest you in some ITT?

    Take some JNPR off the table here also.

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  9. Aristotle

    Pulte+Centex==> 1 turd plus another turd=roses?

    No, a bigger pile of turds

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  10. FLYSWATTER

    Flyboy,
    It’s not that your SCO pick was wrong or grossly untimely, it’s just that you bought too early. I got in at 28.50 with intentions of buying more lower.

    You epitomize the arrogant (Cramer’s words) trader, buying all 5K shares at once instead of buying in portions on the way down which would’ve saved you THOUSANDS of $$.

    New iBC banner language:

    iBankCoin:

    -needs lessons in trading stocks.
    -flunked out of Cramer U.
    -claims to despise Cramer but secretly admires him.
    -doth protesteth too much.
    -is too busy insulting others instead of trading properly.
    -has its priorities all screwed up.

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  11. charlie

    If you liked Borat, check out this trailer for Bruno – looks like pure gold.

    http://www.youtube.com/watch?v=Awg67qp6_4k

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  12. Donny

    For Fuck Sake, we’re gonna give money to the gawd damn insurance co’s now. Nothing shocks me! These fucking moronic asstard CEOs were taking our premiums, then investing it in fucking ponzi scheme derivatives. And now we’re gonna bail these idiots out. LoL!

    You know what, every motherfucking CEO of every fucking financial corporation should have his balls blown off. Even the fuckers that didn’t participate in this fucking scheme are guilty for not speaking out when the music was roaring.

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  13. Black Bart

    Let me praise that sweet whip on the home page. Its got a dust bowl/grapes of wrath type of vibe.

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  14. Cash-N-Guns

    hope we beat the shit out of those somalian shit balls and throw them in ocean for a shark snack..fuck off faggot turd pirates with crossbows and rocks..idiots.

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  15. AHEM

    http://www.denverpost.com/breakingnews/ci_12097728

    “On the side of the container was written the word “BOOM” in large letters.”

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  16. Controller

    Flyswatter,
    What makes you think the 5000 SCO was going to be his entire position?

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  17. Donny

    Dow up 85, and FAZ down -1.4%. I like those odds!

    Donny buys FAZ at 17.70.

    8)

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  18. Pete

    Will you be watching Cramers 1000th show Fly?

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  19. Cash-N-Guns

    Donny..FAZ looks like it might be a timely move…Geithners toxic asset plan is in trouble…no participation…

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  20. FLYSWATTER

    To Controller,

    We’ll see, but based upon his past trading style and the size of this trade compared to others, this is probably it. Even if not, he would have been well advised to split the 5K shares up anyway, knowing that SCO would go lower based upon his own PPT SELL recommendation.

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  21. Bull Maggot

    My FAZ is laughing at the market and saying “fuck you you sinister slut!”

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  22. Trader Bob

    Flysack,

    Did you he the Soros interviews by Aaron Task on Tech Ticker? Might want to reconsider your TLT position.

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  23. ZenProfit

    Trader Bob:

    Buy your guns, ammo and whiskey now.

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  24. Vedyppoi

    VBpNYz

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