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
23,457 Blog Posts

This Bull Market is Dated Until Meatballs Bounce

Italian yields are now north of 6.7%. At the same time, the Ragin’ Cajun is absolutely killing it inside 12631. Both Chess and RC are extremely talented in catching swing trades. If you are a PPT member and haven’t given them a shot, you are missing out on raw talent.

As you can see, I am stubbornly holding onto my silver and refiner positions. I could switch it up and delve into some other low brow names. But I need to stay focused.  I really hate being disorganized, or invested without a theme. My whole life is about a theme. Before I do anything, I like to have it planned out to the minute. Without organization, there is chaos. With chaos, you get the sort of productivity seen by the vagrants at Occupy Wall Street. Seriously, what kind of fucking revolution is that? George Washington would shit on their faces.

I am fully invested with 10% in cash, for a rainy day. I still have that bastard short, EXH, only because it is small. I really should have covered it last week. And, I have little to no desire to add new names to the mix. Although I sense the markets want higher, several shoes could drop at anytime, sending this circus packing. That is why I want to remain focused, long in names I have confidence in.

Top picks: EXK, AG, NFLX, WNR, DK

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44 comments

  1. RJ

    “If you are a PPT member and haven’t given them a shot, you are missing out on raw talent.”

    How exactly?

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  2. Ben Dover

    Hey Fly-

    We are about to become great friends !

    Ben Dover

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  3. vortex

    As I said before I am doing the opposite of Fly. It’s my strategy nothing else.
    When Fly is fully loaded in stock I am fully loaded in $TZA. Except I keep $GSVC for now.
    This strategy worked very well for me for the last couple of months.
    Best luck to you all!

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  4. JTU

    Fly, any thoughts on why CVI hasn’t performed as well as WNR lately? CVI reported stellar earnings in the most recent quarter. I was wondering why you think WNR is a better stock than CVI.

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  5. JTU

    I’m finding that the market is not strong enough to sell into it nor is it weak enough to buy anything! I’m in limbo! Frustrating!

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  6. drummerboy

    and yes sir.”mr washington would shit on their faces” without thinking twice,and then put them to work at mr.jeffersons’ farm, smithfeilds, cleaning pig shit from the stalls…indued

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  7. tdstrike

    Do you mean EXK and not that pos EK? Film is dead.

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  8. The Fly

    yes, EXK.

    Thanks

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    • tdstrike

      The irony of it is at one time Kodak was one of the biggest user’s of silver in the world.

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  9. BigMike

    Best trade ever this past 3 weeks…long oil…who would have thunk it?

    Market should be down 150+ today, yet VIX still below $30. It looks like we are going higher. If we finish above 126.50 (200EMA on SPY), should be bullish.

    I have an over-sized position on FXI. I think we hit $40 soon.

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    • SUBCOMANDANTE CHINCHILLLLLA!!!
      SUBCOMANDANTE CHINCHILLLLLA!!!

      Yeah – China will do great with $95 oil and no one buying their shit products.

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  10. 500kMin

    FLY-
    If you were starting your practice today, how would you go about building your book?

    Didn’t working for slmcx open up enough stuff that you wouldn’t have to work for a boiler room type firm?

    Is Wick the real deal?

    Were the early family problems related to lack of money, or lack of time?

    Knowing what you know now, what are a few things you would have done differently, business wise(excluding knowing todays stock prices, etc.)?

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    • Jakegint

      Get out of the office and start marketing exit planning strategies to Aging Boomer private business owners in the middle market size range.

      When you solve that problem for them you will be a “trusted advisor” and they will hand you the proceeds to build your book.

      Start with The $10 Trillion Opportunity if you don’t already know what I’m talking about.

      ________

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  11. ruggyup

    Grab your Go bags and beat feet to your IRS office, boys and girls. CS letters are in the mail.

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  12. StockOsaurus

    Got Ragin’Cajun and Chessnwine – who is RC?

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    • Jakegint

      Wow, you may have just failed the Entrance IQ test.

      ______

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      • Bullish

        I bet he doesn’t even know who Senator Gint is.

        Btw, I voted today.

        Outside the voting place, a few old timers were discussing how the Wall St people should be publicly hung for gaining their wealth as the little guy gets screwed.

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  13. Bobby Boucher

    Momma always said to not short a dull market. And it sure has been dull the last 2 weeks.

    The $RUT popped above 713 on 10/24 and that area has since acted as support, having been tested on 11/01 and 11/02. On both 10/28 and 10/29 the $RUT failed to get above 770. So now we have this range on the $RUT between 713 and 770. Given the seasonality, I think the $RUT breaks out of this range to the upside on its way to the highs from April of this year.

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  14. Colonel von Ryan

    Can you quantify “killing it” for us non-12631r’s?

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  15. alexl333

    Would you buy WNR at these levels? Or expect another pullback below $16 as has been the pattern the past few months?

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  16. riggedgame

    All us lefties are getting calls from John Kasich reminding us to make sure we vote tomorrow.

    But the bastard was so rude he wouldn’t even answer my questions a few minutes ago, even after his polite intro of “Hi- I’m Governor John Kasich and I have an important message for you.”

    He kept right on talking over me.

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  17. BigMike

    The Turkey Gods strikes again… I thought news was bearish he was resigning as this mornings selloff showed. I guess not.

    EUR/USD ripping higher. VIX at lows at 28.40.
    What the hell is wrong with 10year yield?

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  18. The V.King

    FLY….J.B. was so beautiful…please ask his permission to tell his story…

    11-11-11

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