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
21,502 Blog Posts

Bounce in Jeopardy

The market is giving up early gains, with losses led by CRE names. People are just so damned nervous about commercial real estate, especially after HORRIBLE investors like Soros and Ross warned of “big crashes” in the industry. Why do people give those guys a second thought? I mean, they were good years ago, but suck moose testes now.

Within CRE, Developers Diversified Realty Corp. [[DDR]] , SL Green Realty Corp. [[SLG]] , The Macerich Company [[MAC]] and Simon Property Group, Inc [[SPG]] are getting hit.

On the bright side, precious metals are lifting off, partly thanks to dollar weakness. Within the precious metal, Compania de Minas Buenaventura SA (ADR) [[BVN]] , Gammon Gold, Inc. [[GRS]] and Yamana Gold Inc. (USA) [[AUY]] looks good to go. Additionally, Yamana Gold Inc. (USA) [[AUY]] is reporting earnings this week. Considering the recent run in gold, it will be next to impossible for Yamana to screw up the coming release.

Tech is real weak and financials are just sort of laying there, acting stupid. For the most part, the market is lacking leadership, which leaves it open to bear raids.

Whole drug retailers, like Express Scripts, Inc. [[ESRX]] , McKesson Corporation [[MCK]] and Medco Health Solutions Inc. [[MHS]] look great; but who cares? If we are entering a “niche” stock pickers market, it will be very hard for the masses to bank some coin.

My only purchase today was Ctrip.com International, Ltd. (ADR) [[CTRP]] , based upon China’s out of control stimulus. Looking out a few years, China is doomed, especially after their recent foray into loose lending standards, ala West Coast America. However, just like West Coast America, circa 2005-2006, China should do okay, over the next few years.

As I finish this post, the market has reversed and given back all of its gains. Absolutely horrible.

Even with this decline, I am not interested in giving up on the upside. However, for now, I will try to control my anger, via punching holes in the sheet rock and yelling at random people in the street.

More on this later.

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34 comments

  1. mrkcbill

    Saul Eisner Is God

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    • SteveTheNeighbor

      Saul is in Mrs. Steve’s mahjong club.
      She tells me he cheats sometimes.

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  2. The V.King

    Gravatar?

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  3. Art Vandelay

    Try throwing some meatloaf at your trader-servant.

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  4. iSpankLoin

    Fly, you need to step outside and grab the first person you see by the shirt collar and jap slap the piss out of them while screaming at the top of your lungs…. What the FTK is going on here!!!

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  5. StockPickingChicken

    FTK needs its own Wikipedia entry. It clear is a verb and a valid term going forward. It is more than a stock symbol or company.

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    • Generational BOTTOM Picker
      Generational BOTTOM Picker

      FTKin FTK is more than a FTKin verb – it’s one FTKup FTKupmess that you FTKers get your FTKin FTKup FTKfaces into a FTKin FTKtwit about.

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  6. The_Real_Hmmmm

    China is like a 20 year old Jaega-buam chugging dipfuck who is buying all of these egregious new “toys” (investments) with money their parents sacked away.

    Glamour muscles is fo posers, China; I’m an ADUUUULT! America will take your Ab-Rocker and THROW IT ON THE GROUND!

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  7. masterpain

    Answers I really want to know?

    Will DRYS GO TO 3

    IS THE FLY REALLY LARRY KUDLOW?

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  8. Mr. Cain Thaler

    Holy GKK!

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  9. masterpain

    Then man up and put up a kudlow pink tie gravatar

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  10. JakeGint

    I take your US dollar AN’ I THROW IT ONNA GROOOOUUUUUUNNNNDDDD!!

    _____________

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  11. StockPickingChicken

    I take the US dollar you “throw it onna groound”…

    And I print 3 more and hand it back. At that rate, you’ll need 4 arms to toss down the dollars I’ll hand back to you in stacks.

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  12. No One

    Did I hear FAZ?

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  13. anti-stupid

    Henry Fool,

    What does a negative 200 Hybrid PPT score mean???????????????

    I invented it and I don’t even know……

    Senor Flea

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  14. Bill

    Herr Fly, your vow! Your vow! This correction will pass and new highs for this bull market will happen within months.

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  15. Bill

    Herr Fly, your attention to http://www.xtrenders.com is needed – look at the performance of Sol there and tell us what you think? Gracias.

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    • Lemonjello

      Paper trading is easy, guys gone bust multiple times holding shit positions for unconscionably long periods. Just start over like in the real World….

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  16. Bill

    Art Cashin said last Wednesday was a close call – if the dollar had moved up more around mid day, it could have triggered an 800 point Dow drop…….so says Art.

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  17. The V.King

    I like the chick with the blue top. In case anyone was wondering.

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    • SteveTheNeighbor

      Now I know why Steve Jr. has been spending much time in the bathroom with his laptop.
      And I used to think he was just checking his stock quotes.
      He bought FTK with his Bar Mitzvah money because Fly told him.

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  18. Soup Kitchen

    Hey Fly with all due respect to your talent and wisdom… You remind me of the story … “The Little Engine That Could”….. Im sure we all know the mantra…..”I -think I Can’ ‘I think I can’ You and the rest of the “Bulls” need to come to grips with what is going on here…. the market is feeding on greed right now. We all want a real bull market, but it can’t last on false hope…. thanks for listening

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    • the NOODLE space cowBOY
      the NOODLE space cowBOY

      keep it real homie

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      • the NOODLE space cowBOY
        the NOODLE space cowBOY

        i think if manage to pullback 50pct on this rally, the entire story will have a different tone to it. genius analysts and technicians will declare further falling in prices and testing of 08′ lows almost a sure thing, due to the various concerning fluctuations in other instruments that would accompany such a move down – well thats my prediction anyways :D.

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    • The Fly

      Who said I am a bull? I am just a guy who likes to make money.

      Really, it’s comical that you have been wrong for 8 months, correct over 2 weeks, then have the stones to come here and offer advice.

      Don’t do that.

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  19. The_Real_Hmmmm

    It’s not about prediction -> conviction.

    It’s all about prediction -> reaction.

    Check out some of the action in heating oil, sugar, coffee, and lumber. All bullish, and lumber is the darkhorse. Up more than 30% in the past 25 days.

    Something tells me the V.King hangs out at the local roller rink by the dumpster throwing buttered popcorn at teenage girls and offering to buy them alcohol.

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