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
23,445 Blog Posts

Short Sellers Beware

The dollar is down and oil is up; therefore, stocks will likely trade higher today. Most of my positions are green, merrily swimming around in a shark free environment.

Early this morning, MWA, caught an upgrade, effectively pushing Senor Tropicana in the black. And, as you can see, FNSR does not go down.

For the most part, I’ve got my positions worked out, sans and semblance if a real asset allocation program. I will be using strength to reshuffle my positions, in order to slow down my beta. My number #1 pick is still GLW, based upon robust LCD sales, worldwide. In my opinion, I think the stock prints $18, maybe $20.

Bottom line: If you are stupid enough to be short stocks today, you are playing with fire. All of the ingredients for a break the fuck out tape are present.

Trade accordingly.

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26 comments

  1. sergei

    The fact that 10 banks can now repay the TARP is EXTREMELY NEGATIVE. Basically last nail in the coffin for financials. Banks that didn’t really need the TARP can now repay it. What about the 9 banks that will never be able to repay the TARP?

    Load up on FAZ.

    Key to remember, the market is trading like we are living in bizzaro world. Way too much good news is very negative.

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  2. sergei: Sorry comrade but your account is effectively going to zero in FAZ.

    Impossible to lose on the long side in this tape.

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  3. da smurf

    Shorts! They’re what’s for dinner!

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  4. sergei

    Anon, think about what you just said:

    “impossible to lose on the long side in this tape”

    enuff said

    with regards to FAZ, i would never buy that crap myself, and short the market instead. but you get the point

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  5. GA

    fade the late day rally

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  6. Cash-N-Guns

    Anon…impossible to lose..hmmm another shit shoot…!!
    SRS ladies…rates up, comm.-re….fucked again.

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  7. The Fly

    The rally will not be faded, unless the dollar firms and oil weakens.

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  8. kidstock

    Fly,

    FTK doesn’t look very healthy. I know you’re not a chart chomper but the technicals don’t look all that favorable. Not feeling it here FWIW.

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  9. sergei

    How did banks like WFC make so much money Q1 this year?

    Refinancing.

    Well, refinancing is dead with mortgate rates up 100 basis points.

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  10. The Fly

    Kid

    It is a turd. I am patient.

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  11. punyandy

    sergei – so the yield curve is even steeper. banks borrow at zero and lend at more. you fail the internet.

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  12. The Fly

    RFMD broke out of range.

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  13. Treepart

    Jailbreak at CNXT. RC, with another great call. This place is the bestest.

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  14. Controller

    What’s going on with SQNM?

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  15. The Fly

    Buying CNXT.

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  16. 1MadRussian

    Currently playin MWE, CFK, TCK, ESV, MT. Still like oil with DXO & financials with FAS.

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  17. 1MadRussian

    My post was deleted?

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  18. FLY SWATTER

    Fly….do you like AUO as well as GLW?

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  19. 1MadRussian

    Sorry, damn refresh!

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  20. The Fly

    I like LPL and AUO.

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  21. 1MadRussian

    Short VNDA

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  22. franky

    what do you think of TRID today? looking peculiar…

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  23. j

    Fly any views on SPIL. they reported higher sales but the stock just hasn’t got a heart.

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  24. JakeGint

    Mr. Anderson, with a Bullet!

    Now up 89.4% since the start of the Jacksonian Portfolio a scant 40 days ago.

    _______________

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  25. retox

    franky,

    TRID still looks good.

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  26. Big Mike

    MOST…BORING…TRADING…DAY…EVER…

    Boring days = win for bulls

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