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
20,866 Blog Posts

Robots Gone Wild

Goldman Tradebot3000 was especially cranky today, jerking the market around like a “homofied” poodle. I see, in the comments section, many of the bearish people, my people from 2008, are making some noise. I will communicate with you, through baseball analogies, since everyone likes baseball.

I am Ty Cobb, hitting .425, spiking people in the face for getting in my way. You are Scott Cooper. Who is Scott Cooper?

EXACTLY.

I am entitled to make errors, especially since I am batting .425, with, 230 hits, 110 runs scored and 100 stolen bases. You giving me advice is equal to Scott Cooper telling Ty Cobb how to hit a curve ball.

Ya dig?

So, if you want to converse with “The Fly” or even offer some picks, just place your balls on your kitchen table and start speed chopping carrots, via blogging in The Peanut Gallery. Since I started iBankCoin, I have made it a point to hire people who show good investment acumen, most commonly discovered in The Peanut Gallery. If you are bearish, seriously, I do not hate you. I love a challenge and enjoy listening to compelling arguments. Do yourself a favor, vent a little in The PG. Moreover, inside of 3-4 months, I might be exclusively shorting stocks again. Who knows?

As for this market: absolutely nuts. I am a little jarred by the volatility and do not have great confidence in anything, near term. On one hand, this could be a great opportunity to get long growth stocks at a discount. On the other, the banks are looking a little dicey here, which may —eventually— lead to another leg lower. If I was going to sell short, I’d sell PacWest Bancorp [[PACW]] and get long Non-Levered ETF’s, like [[DOG]] , [[SH]] and [[EFZ]] .

In short, I smell opportunity and I am man enough to tell you: I have no idea which direction the market is heading tomorrow.

Top Picks: POSCO (ADR) [[PKX]] , Equinix, Inc. [[EQIX]] , TEKELEC [[TKLC]] , Ctrip.com International, Ltd. (ADR) [[CTRP]]
NOTE:
The Reformed Broker (no idea what that means) made something clever, for science/blog nerds only.

[youtube:http://www.youtube.com/watch?v=4MpWE_u6y9g 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter

74 comments

  1. Jim Cramer

    I was not wrong or lieing about EQIX. Its going down and will remain on the sell block until it goes to zero.

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  2. The Zombie

    The Fly is God.

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  3. No One

    Who is Ty Cobb?

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    • TraderCaddy

      I wasn’t sure who he was either and then I remembered I have his baseball card.

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  4. teak

    Elevator down.

    Or up? Who knows. Where is my crystal ball?

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  5. Art Vandelay

    People under 47.5 do not know who Ty Cobb is.

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  6. the NOODLE space cowBOY
    the NOODLE space cowBOY

    WHAT ABOUT RIMM?

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    • TheArtist

      RIMM is having its balls fondled by midgets in leotards right now.

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      • TA

        Indeed

        It wants to be in the 40s in the worst way

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        • the NOODLE space cowBOY
          the NOODLE space cowBOY

          Crazy, I went long RIMM today. I must either be wearing leotards or having a perversely pleasurable afternoon.

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  7. Art Vandelay

    Rogers Hornsby hit 424 in 1924. I was not yet born

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  8. The Zombie

    You knuckleheads need to do some seamball homework!
    Didn’t you play “Earl Weaver Baseball” on the PC (1988)?
    My 11 year old nephew knows Ty Cobb’s stats.

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    • TraderCaddy

      I had a game as a kid called All Star baseball that used a spinner on cut outs of the players.
      Made my own cut outs from cardboard and used to keep stats and the neighborhood kids would have a regular season each summer. Ernie Banks and Willie Mays were my guys. We would usually play after our whiffle ball games in the streets each morning.

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      • The Zombie

        Sounds like that was a good time. What I loved about Weave Baseball was that it had current players as well as the legends. A great way to learn about the history of the game and play computer baseball at the same time. It had each player’s best season, even when they had hilarious numbers, like Hack Wilson: .356 56 HR 190 RBI. It even had the ball parks like Ebbets Field and Polo Grounds. Awesome game.

        The Fly is God.

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        • JakeGint

          We used to weave our own baseballs, too, when I was a child, ‘as we were so pooah.

          Then our Dad would come home, and have us lick the road clean with our TONGUES!

          _______

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          • omfgitsjd

            I had to walk five miles barefoot through ice and broken glass everyday and didn’t complain once.

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          • Teahouse On The Tracks
            Teahouse On The Tracks

            I had to shovel the whole street out one winter, along with the neighbors, when the snowplow couldn’t get through the drifts … then I was sent to school!

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  9. mrkcbill

    Scott Cooper once punched Sabathia’s mustache off.

    Stocks are for fucktards!

    I say we end 950 SPY 12/31/09

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    • The V.King

      Dolla Bill has spoken.

      CT nice job getting it rigged……that’s sad

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    • Largebill

      Scott Cooper couldn’t reach C.C. Sabathia’s mustache!

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    • Jed

      mrkcbill speculates in the bull semen market.

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      • mrkcbill

        Jed, buys all his groceries at Aldi

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        • TraderCaddy

          Actually, I went to Aldis on Sat.
          On top of that I found two carts people left in the parking lot so I took them back and made .50.
          I am so embarrassed.

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          • MOOBS

            I pick up change on the ground. Don’t care who I’m with. If there’s even a penny I grab it.

            Put in in my LWRF (luxury watch replacement fund)

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  10. TA

    I know how to read a tape and this market sucks a big hairy cock. Good news is being sold like a $2 hooker so I lightened up and may hedge soon.

    I will not be buying again until it stops acting like said large hirsuite appendage. Could be tomorrow or more likely weeks from now.

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  11. The Fly

    I guess you know what….

    Nevermind.

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  12. Jworthy

    Oh man I love science and blogging. This is the best. Thanks.

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  13. 308

    hmmm… UBS initiating HD home depot with BUY tonight, right before earnings tomorrow.. also initiating LOW, BBY, BBBY AZO, AAP with BUYS…

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  14. alf44

    “In short, I smell opportunity and I am man enough to tell you: I have no idea which direction the market is heading tomorrow.”

    Ah Hem…pssssst…UP !!!

    .

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  15. neil young

    Ty Cobb??? I just remembered…I got his rookie card..
    and the market goes up…it always goes up..hey hey, my my..the market going up will never die!!

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    • JakeGint

      I seen the needle and the damage done

      A little part of it in every one

      But every junkies like a setting suuuuuun….

      I challenge you to find a more heartbreaking song….

      there is none imho.

      _______

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      • alf44

        Neil wrote that song as a tribute to his friend and bandmate from Crazy Horse…Danny Whitten ! fwiw

        And I agree…a truly heartbreakin’ tune…especially in light of the fact that it is about Whitten ! R.I.P.

        .

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      • Purdy

        Vietnam era …Ruby. More heartbreaking because it was done to him, not self-inflicted.

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        • alf44

          valid point…brother !

          …different context…different scenario…but…every bit as heartbreakin’ !!!

          Gotta admit though…nobody DIED !!! fwiw

          Just sayin’ !!!

          .

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  16. Bill

    Hugh Hendry is back – says he is flat for the year and is not going to enter the equity markets unless he changes his mind – says he made 50% on gold in 2003 but is not interested today – you can Google Hugh Hendry October letter and get some CNBC Europe videos.

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    • lindsay

      thx so much for the heads up Bill– love that guy— will track down his letter

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      • lindsay

        Here’s a link for anyone else who is interested in Hugh Hendry’s current take on the market

        http://www.mrswing.com/articles/Hugh_Hendry_Resurfaces_on_CNBC_October.html

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        • j

          Hendry’s a douche bag.

          I saw him and the way he reacted to some other dude having the opposite view. Hendry was bearish in Feb and the other guy was bullish. Hendry tried to tear strips into him. There was no acknowledgment that it’s actually okay to have differing views.

          In May a viewer questioned him on his views as they had been wrong going back to his February pronouncements……. to hold bonds only, that deflation ruled, stocks were heading lower and gold was going to go in the soup.

          The fucker went of his head to the extent where the Bloomberg host had to remind him that it was okay to question his forecasting acumen seeing that he had no problem accepting acclaim when he had be right in 08.

          Hendry is a dickhead.

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  17. mrcainthaler

    A KoPG post has been put up, for your pleasure.

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  18. Higgs Boson

    A four year bull market started in March 2009. The Dow will hit 17,200+ by 2013. Everything between now and then is meaningless dribble. Most importantly the Dow 30 is meaningless.

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  19. ocho - A

    during the november 3rd game i might go long ..lets see who is covering me ..

    bove:
    cant cover me [ X ]
    can cover me [ ]

    cramer :

    cant cover me [ X ]
    can cover me [ ]

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  20. yeomps

    The Fly… congrats on making it onto the periodic table twice. Once as ‘The Fly’ and once as IBC.

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  21. Q4

    Out The Getto – http://www.youtube.com/watch?v=mJMrwFYub7Q

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  22. JakeGint

    The price of gold and silver today and tonight may indicate a bottom in both those metals.

    What’s most important for the miners, however, is to realize that this is not time for puking!

    _________

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  23. x

    Spare us all the baseball talk. Where is the link to a page showing your annual returns for every year that you’ve been in this game? (Not really interested in your individual trades for these periods, but in the interest of authentication it would be nice if they were included.)

    Also, I can’t help but add that if this game were hockey, it is looking like you are going to get drilled right in the face with a puck today. U shoulda bot dollars.

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  24. Mr. President

    I just read that Berkshire is acquiring BNI for around $100 per share.

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    • Mr. President

      BNI is my 2nd largest position and one of my “hold forever” stocks. It’s times like this when I find my trigger finger shaking uncontrollably….easy profits…for the taking…OK, time to go for a walk.

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  25. j

    This is really pretty bad tape action. Market gets good news, stocks get great profit result and the market. stock tanks. This is very ungood, so I lightened up a little.

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    • Yogi & Boo Boo

      Agreed. It’s the correction I wish I had lightened up on. I still think we have more upside, but looks like rotation out of my overweighted sectors of large cap tech and financials. I hope it’s just the pause that refreshes, but my finger is not far away from the sell button.

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  26. henryfool

    Double Dog Load on ALGN!!

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  27. tgarfield

    I think the windows 7 upgrade must have come in. I went long today. That is too much of an ending diagonal. Lots of people went short because it made sense. An a** handing is in order. I covered my shorts and I’m slightly long.

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  28. Fresbee

    I think the markets are ready to take another tumble. But the dollar will also fall is what I feel.

    fresbee
    GA Alpha Fund
    INVESTING CONTRARIAN

    Subscribe to RSS for Investing Contrarian

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