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
23,443 Blog Posts

Waiting in the Tall Grass Again

If DECK didn’t get obliterated today, I might not have opted for cash today. But it did knife lower, on no news other than CTRN and ANF sucking balls, much to my chagrin. DECK is one of my largest positions and I only have a few positions, so I must reduce risk in other positions in order to determine whether I want to double down or cut my losses on DECK.

There is no way anyone has an edge on DECK here. They do not accelerate sales volume until late September and inventories are big due to the belief that they are poised to ramp, later on this year. If you recall, they reported a great quarterly number and I sold near $105. I bought back in around $90-92.5 due to my belief the stock was being tossed aside due to market panic. However, over the past two days, DECK has shed nearly $10 on no news. Which leads me to surmise, FMR or Blackrock may be reducing risk, across the spectrum, regardless of the name.

Let me remind you, the people who manage your money are not too bright and tend to not give a fuck about executions. They are steering a big fucking boat, much bigger than my flotilla, and couldn’t care less about chicks digging on furry boots. Once the selling subsides, DECK will be a sick buy. Watch it spring the fuck higher, to the amazement of all who are short.

For the day, I shed another 1%, mostly due to DECK.

Off to eat some fish tacos.

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55 comments

  1. kidstock

    FIG

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  2. TraderCaddy

    Coincidence.
    I am making fish tacos for dinner.
    Got the flounder, slaw, lime, cilantro, finely grated cheddar, diced tomato, and freshly sliced jalapenos.
    Topped with a little sour cream and some diced guacamole.
    Even my fish hating kids used to like it.

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    • jimmy_two_times

      nice.. can you post complete recipe?

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      • TraderCaddy

        Sure.
        I use flounder or any firm fish.
        I take the flounder and roll it in Italian seasoned bread crumbs and then fry it in a little oil.
        Sometimes I use mahi mahi and put it on the grill if the price is right for the fish.
        Get the pre packaged slaw and mix with a little mayo (one or two tablespoons or so is enough) and with some diced fresh tomato, and chopped fresh cilantro. And it is important to squeeze some fresh lime in there. If you can get your hands on some key limes (depending on the season) even better.
        Warm up medium sized tortillas (not the small or the large).
        Put the fish in the tortilla and pile on the slaw.
        I put out the cheese, freshly sliced jalapenos,diced guacamole (Hass works best), sour cream and people can put what they want on top of the slaw.
        And there you go.
        Comes from my 30+ years of cooking all of the meals here.

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        • muktukchuck

          TC – been doing the cooking gig here for a like no. of years. Best stress reliever there is. I cook with wine a lot — sometime I even put some in the food. Badda Bing!!!

          Made fish tacos for the Seabillies on the west coast trip last week — used yelloweye snapper that was swimming 2 hrs before it hit the grill — had em lined up 6 deep waiting for 3rd’s and 4th’s.

          Couple of twists I use —- breading = 1/3 each unsweetened coconut – corn flake crumbs – panko. Sometimes use Tai chilli sauce i/o sour cream.

          Bon Apetite.

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        • razorsedge

          tanks, ill be usein dat, if im not tradin im cookin, i got a new wave oven, it can also be used as a dehydrator, and makes a meal in 1/2 da time

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        • Sierra Water

          Thanks TC,
          I’m going to Santa Monical Fish Co tonight because you just got me all jazzed up and hungry.

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        • jimmy_two_times

          thanks TC …

          I’ll surely be giving this a try. Been looking for a good Fish taco recipe for a long time.

          bon appetite (no homo)

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    • madrid

      With tequila or cerveza?

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  3. Apocalypse Now

    Clam on! Clam off!, Clam on! Clam off!… The Clammer!

    We need to stop clapping / clamming because my lights and market risk keep turning on and off.

    http://www.youtube.com/watch?v=0ddfapwmzQk

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  4. #6

    TC & Muk- why ruin the fish by breading it? Season it, to be sure. But no breading needed. And the idea of cheese on fish tacos (or any fish for that matter) makes we want to gag. Other than that, we do the same (cilantro, slaw, lime, etc) up this way via SoCal (my wife).

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  5. DRAXWIN

    I bot EXXI yesterday, I believe it to be undervalued. EXXI is 38% of my PA and WNR being the rest. lol. I hop in and out at a moments notice however, but it seems I am very ovrweight in the energy sector haha. I pushed the envelope to max boogie long bitches. I came out ahead today, sky may fall on my head tomorrow…. If i wanted to diversify I’d buy a fucking etf…..

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    • DRAXWIN

      short UNG, BEAR EIA # COMING TOMORROW AT 9:30 CENTRAL TIME.

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      • Po Pimp

        Short UNG just because it is a fucktarded piece of shit ETF.

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        • DRAXWIN

          LAST YEAR IT WAS WHEN THERE WAS A BIG “CONTANGIO” IN THE MKT, NOW ITS FLAT TO BACKWARDATED, SO WHEN THEY “ROLL” EVERY MONTH IT IS ACTUALLY A BENEFIT and nav doesn’t get smashed on the roll. Last year I had an arb going b/w the candian etf and ung cuz nav was so at of wack on UNG

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      • DRAXWIN

        gas flows looked like garbage I know, but the way the eia comes up with the storage # is something a nutless monkey would compile. I actually hope for a bull # , i have no “personal” holdings in UNG. AND I ONLY USE UNG AS A “DAY TRADE” KIND OF DEAL. IF I CERTAIN BULL # COMING OUT ON THURSDAY I’LL LOAD UP THE BOAT AT 8:30-9:29CT AND UNLOAD AT 9:35 HAHA, i not a buy and hold investor. hard to be when u staring at screen all day.

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  6. GonzoT

    Yes I see great moves into Turkey day rally…

    How was the Gathering? saw Charlie “winning” Sheen was there.

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  7. ruggyup

    TC & MUK & #6 – the old gadfly sits back and adds these unasked for observations: flounder is ok but, mahi takes 1st place, but please do not ever, as in never, use tilapia the poor man’s catfish; panko is top drawer, please bury the cheese you are not MickeyD; and finally for some bite and flavor be moderate with SRIRACHA HOT CHILI SAUCE. All sounds like a great party in the making. Cheers!
    P.S. some under the radar snook would be killer!

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    • TraderCaddy

      Not sure where I would get snook these days but love the taste.
      In my younger days I would go fishing off Sanibel Island and load up the boat with snook, sea trout, sheepsheed, and an occasional mangrove snapper.
      But I believe there are now all kinds of restrictions on snook in Florida.
      I agree on the mahi and if I can get it at a reasonable price I will put it on the grill.
      I don’t put the shredded cheese on mine but my wife uses some and when the kids were home they loaded it up which probably explains why they loved fish taco night.
      Have to wonder if Fly asked for Italian “gravy” on his fish taco although Mrs. Fly may have straightened him out.

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      • TraderCaddy

        Just read your comment again. A bit slow here.
        Now I get “under the radar snook.” Those fishing regulations.

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  8. GonzoT

    Ok if you didnt go to the Gathering. Was is something like this? This is a bad ass spa.

    http://www.youtube.com/watch?v=uwiNDlxDdHs&feature=related

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  9. Sierra Water

    More support for the Death Cross trade.

    “My long-standing belief is that the Federal Reserve should never enact such asymmetric policies to protect stock market traders and investors. I believe my FOMC colleagues share this view.”

    -Fed’s Dick Fisher

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    • Po Pimp

      Fuck him sideways. As an American citizen it is my God given right to have a rising stock market.

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      • Bullish

        Sorry Po. I tried to give you a thumbs up for that comment. Damn iPhone!

        It is our right to have a rising stock market. Now all we need is an American president that believes the same.

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  10. theedge111

    If we don’t get over 1200 on the S&P in a hurry we are headed much lower. This market looks sick. The failed rally over 1200 was extremely bearish.

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  11. testicules

    Tomorrow is the perfect set up for a WTF rally, which the media will only be able to describe as an endorsement of O’Mighty’s long term leadership goals.

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    • DRAXWIN

      will you please change your “gravatar,” for everyone on here? IT IS HOMO

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  12. razorsedge

    lookn at xco, swn, lng, look at the chart of these tell me what u see.

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  13. xxxHuggieBearxxx
    xxxHuggieBearxxx

    It appears HuggieBear’s trading career is going to come to an unceremonious, premature and untimely end. It will either make my life far more pleasant or dreadfully, unbearably monotonous.

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  14. MX2101

    Huggie- Either cut losses at once, or see what happens to the position. Regardless, you might want to maintain a little bit more than your broker’s minimum account size requirement in cash, then you can trade back very slowly. It is possible to trade back from the abyss.

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    • DRAXWIN

      IF YOU ARE TRADING MARGIN IN THIS ENVIROMENT THAT’S DRAWINISM AT ITS FINEST.

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      • DRAXWIN

        DARWINISM

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        • drummerboy

          you mother fuckers will never know rythm ,(sic) if it bit you in the ass. have any of you mother fuckers lost yours and tried to regain it.aint that fucking easy, especially when shit turns and your fucking charts dont say so!

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        • go2mars

          DAR-LOSE-ISM

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  15. xxxHuggieBearxxx
    xxxHuggieBearxxx

    Sorry folks, i should have been more clear…it is looking like i will be taking a new job in the next couple of months which will dramatically ramp up my stress and hours. Also involves moving 2000 miles away to a new city….on top of that fact I have a 1 year old and 2 year old already, and trading has already been a challenge (from a stress standpoint).

    I have had a good couple of years in a row, up 50%+ last year and up about 18% so far this year. Almost blew up a couple of times over that period though, including a narrow escape last week.

    Anyway, I may be back and with an even bigger grubstake….we’ll see. I have been trading or analyzing for 1000’s of hours per year now for several years, so it is going to be an interesting transition. It is bothering me to have to put so much money invested passively….especially in this environment.

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    • TraderCaddy

      Good luck on the job and is good to hear that good jobs still exist.
      Just dollar cost average into a diverse group of funds or etfs via your 401k seeing as how you have little ones.
      Add more on crashes and go to MMA when the market is soaring.
      Forget about trading until they are out of college.

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    • drummerboy

      no way bro. i’m really fuckin heart broken. my heart heavily weighs. wtf

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    • Po Pimp

      Good luck huggie. I was just kidding in previoius post.

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  16. StockyWock

    DECK sucks, a bit shocking someone who thinks hes a good trader is buying that cramer pump of a turd

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    • ruggyup

      You get exactly what you pay for. What value do you put on something you get for nothing? There is no such thing as a free meal, free pussy and ……………………………………………. free Cramer? Are you shitting me?

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      • theedge111

        Every momo name is getting slaughtered. Look at Netflix and the rest below:

        UA/ANF/CRM/APKT/FFIV/CAT/CMI/RL

        The market is warning you that shit is coming and it ain’t pretty. Risk is off and money wants to hide. My guess is Europe is about to blow.

        Bucky up hard.

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    • The Fly

      BANNED

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    • JTU

      Hey StockyCock! What the Fuck is your strategy?
      Let’s hear it genius!

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  17. Kwame Brown

    Load up on MPEL. Let the good times roll.

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  18. JTU

    I sincerely hope that weak hands are being shaken!

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  19. drummerboy

    fuckin A fly

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  20. razorsedge

    so im thinkin, reagan brought down russia with out a shot, how’d he do that? ok so if r enemies get there money from oil, then why dont we crush it?when reagan wrote NFTA he left in the right to unionize, and epa regs, that was r get out of jail card, but bill clinton passed a bill w/out these, humm, wtf. he also passed that bill where everybody gets a house. so we go on r merry way till it collapsed, n ow obama for change, gonna get us out of war, but starts 2 new ones, how about we dont send r enemies money, how about we use whats here, nat gas, damn, oil would drift to 50, is this a stupid thought?u fuckers who say ur democrats , and u fuckers that say u r republicans, dont u see what there doin? reagan said there gonna use me, i think thats what is happening. lets create a crisis so we can fix it,,, fuck um all

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    • razorsedge

      kenedy said its not what america can do 4 u its what u can do for america,, we lost that somewhere.

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