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
23,441 Blog Posts

Dealing With Assholes

Let me start by saying I was down 1% today, all due to the cocksucking action in BORN. Some of my loss was offset by gains in EXK; but I still finished down a bit.  So you know, BORN is a rather large position of mine, as I have been buying shares for a month now. My rationale, in my opinion, to buy the shares is sound and the value proposition is solid. However, there are a group of insidious cocksuckers out there, namely Muddy Waters and Citron Research, that make it a point to incessantly target chicoms with their “investigative journalism.” Because Muddy Waters nailed RINO (shot in the dark), people believe they are operating with crystal balls on their fucking desks and magic umbrellas up their asses. Today’s hit piece on CCME is disgusting, for a very specific reason.

They are coordinating their assaults on these companies and using their megaphones to manipulate stock prices. Are they trading ahead of their research? Ask the SEC, see if they care.

Having said that, frustration and anger does not generate gains. I added to my BORN position at the end of the day, but nothing too big. It’s important to understand why the stock is dropping and how low can it go. People are scared. When people get scared, share prices disconnect from reality, allowing those with liquidity to take advantage. However, before that chip can be cashed in, you have to get the timing right. In this case, my bet is for a better than expected earnings report, scheduled to be released 2/15. If you are short this stock and feel they are “cooking the books,” the last thing you want to do is ride this fucker short into earnings. After all, the “books are cooked” no?

Aside from that, I like the market here and will look to add to some precious metal names, which will be researched tonight, while you are asleep.

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34 comments

  1. Nom Chompsky

    Be sure to wipe.

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  2. ajb_2010

    interesting. hope it works out Sr Fly

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  3. MDA

    Which was my next question.. Do you ever sleep?

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  4. azulgrana

    while im sleeping, you check out all that the palladium complex has to offer you. by morning, ill be richer, and youll be smug with a new conviction list

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    • Bob the Builder

      At least he’ll be able to punctuate.

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      • azulgrana

        oddlot. theres always the literary world for those that love their with apostrophes more than their commas

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  5. flyaway18

    I’m looking at CZM and JJC as seasonality plays for February here
    based on what I researched in the PPT.
    I’ll be looking forward to Jake’s blog tonight on the PMs…
    Fly, are you going to buy TBT?

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    • The Fly

      How about the MGN seasonality play? VROOM

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      • flyaway18

        wowza, nice move today in MGN,
        wish I had written you yesterday!
        If you notice though, if I had bought CZM and JJC on Jan. 31
        (which I did not), it would have been a nice trade as well.

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  6. go2mars

    Here are my favourite PM gigs so far (in order of liking):

    Orko silver OK
    Nautilus Minerals NUS
    Millrock Resources MRO might be too small for your liking, but still a good one.
    Silver Wheaton SLW You already know of it.

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    • Teahouse On The Tracks
      Teahouse On The Tracks

      Orko trades down here under OKOFF but kind of thin and not very responsive today … what’s your take?

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      • go2mars

        It’s preparing to get bought by Pan American at a significant premium imo. Their deposit is right next to Pan American’s super deposit in Mexico. Cheaper to pit mine the whole shebang. Pan American is “planning to aggressively advance this project” or some such. That either means lots of money for Orko, or more likely, they’ll get taken bought out clean at a nice premium.

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  7. Quint

    I like IAG & ANV

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  8. Apocalypse Now

    CAGC down as well, China Agritech is down 10% including after hours.

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  9. FIG

    Chicoms are ghey. Chinese companies are frauds. Look at the BS called DANG. That company isn’t even the number 1 online retailer in China, yet they want people to believe they are the leader. I stay away from these kinds of companies.

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  10. xxxHuggieBearxxx

    in for 1000 BORN

    let er rip

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  11. goldbugvariations
    goldbugvariations

    First Majestic Silver — AG

    Alexco Resources — AXU

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  12. drdart

    So Fly what do you think of CAT and the $100 roll? Or not enough upside on that one?

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  13. tgarfield

    david einhorn trades ahead of releasing research. I don’t see that aspect being illegal.

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  14. dan scallion

    question for the stream . why come VMC reports -.36 loss vs expected -.18 loss and is – 260% from a year ago and it more than fills the gap down from this am ? I spent 26 years in the construction industry I know what they do and I also know the only hope they have is more government stimulus with the Tea Party in control is this likely ? anybody ? Somebody ? Thanks

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  15. John Welsh

    Fly – In my opinion, FUQI started this china mess. This china mess gonna continue until they file….which who knows when. Just a name to watch.

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  16. heaterman

    The Bernank says he will control inflation. I would think that a valid definition of which would be in order as opposed to the government method of measurement. Which in case you hadn’t noticed, excludes anything that is going up in price.

    http://news.yahoo.com/s/nm/20110203/wl_nm/us_food_prices

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  17. a monkey with an ancient chineese secret
    a monkey with an ancient chineese secret

    BORN, china rotto. good ruck.

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  18. GYSC

    Dos The Fly sleep? Money never sleeps padawan. Never.

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  19. Archetypal

    Yeah I got fucked on BORN today too but should have seen it coming. About that 2/15 earnings date, were in contact with Mr Zima in IR about that?

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  20. JTU

    Anyone think PWER is a buying opportunity after 21% haircut after hours?

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