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
23,447 Blog Posts

Basically Weak

Basic materials are getting hit again. I am leaning towards selling my RS, but want to give it a shot to get back on track. The whole point of keeping RS is to have exposure to basic materials. Although weak, the industry tends to go gangbusters when things in China are going well. However, as of late, the chinese stock market has been getting kicked in the noodles.

I suspect the market is going to trade lower, just a smidge, in order to lure a fresh batch of bears into the snare. Rest assured, similar to past traps, this decline will only result in more pain for the ursine types.

Near the top of my buy list is BID, ahead of the spring auction season. “The Fly” is all about high end luxury items, which is why he made money in TIF while many of you lost money in MCD. The point being, a great many of you eat, rather sloppily, at MCD or WEN, clad in CROX shoes and Lee jeans. Frankly, that’s disgusting, on many levels.

It’s too early to make any well informed predictions. But thus far, the market decline looks benign– perhaps a fine occasion to capitulate on shorts and get long before the tide rises again.

UPDATE: I sold out of RS.

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41 comments

  1. donker

    all about NQ

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  2. argh

    I was long YELP at 20.5 and stopped out at 19.5 and now look what happened.

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  3. lol

    “However, as of late, the Chinese stock market has been getting kicked in the noodles.”
    I believe I would have went with “dumplings and egg-roll”

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  4. Yabollox

    nay nay– no crox! Maybe Nike or K-Swiss, but no plastic garden shoes.

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  5. Henry Fool

    indued.
    Never short a dull market!

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  6. Hack

    I’m not kicking MCD in the nuggets after a +30% year.

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  7. Stringmusic24

    YELP!

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  8. The Fly

    Now would be a good time for some of you YELP haters to apologize to me, not that I’ll accept your apology. But, you can try, nonetheless.

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    • russian turkey

      Conversely, I would like to thank you for putting YELP on my radar. Bought at 23 and caught this entire move, with no plans to sell yet. Thanks!

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    • jmmpangaea

      I admit, I didn’t expect this.

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    • argh

      The FL Y wins again!

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  9. Dog

    “…a great many of you eat, rather sloppily, at MCD or WEN, clad in CROX shoes and Lee jeans. Frankly, that’s disgusting, on many levels.”

    Just hilarious. Horrible look that CROX and Lee jeans.

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  10. Sir Jack Wadds

    YELP egregious!

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  11. stringmusic24

    Out YELP at 31.00 for +30% in 3 days. Fly, you are a gentleman and a scholar.

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  12. Beat PDT

    Incredible call in YELP Senor Fly. Enjoy counting your money while sipping earl grey.

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  13. Frog

    Thanks a mil, Fly, for yelping us to make some great coin! Your generosity is a thing of beauty and a joy forever.

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  14. EN1GMA

    INDEUD with the YELP call

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  15. Dr Fly

    Just doing my job, trading like a Congressman and shit.

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    • EN1GMA

      From the delinquent yahoo message board the from March 26th in case you didn’t already see…

      “I added this a.m. after
      seeing the fly buy .
      The Fly is either the
      luckiest or best trader/buyer I’ve ever
      seen .”

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      • EN1GMA

        typo– omit “the” after the word “board”

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        • President M. LeFly, 2020

          “Just doing my job, trading like a Congressman and shit.” Executive office bo$$ (neva’ forget ’bout the little guy for Ass. of Mint (tho, pleease).

          “I’m not kicking MCD in the nuggets after a +30% year.” Sounds like B.R.A. in 2011… ?

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  16. argh

    Zillow 24M monthly visitors market cap 956M
    Yelp 54M monthly visitors… 2.25X as much.
    Multiply 956M and you end up with 2.151B market cap…
    Zillow is probably going to have more value per person since people are actively looking to buy a home and home is worth more and realators are probably more willing to pay more as visitors is much more targeted and worth more than whoever advertises on yelp for whatever….

    But yelp probably has a lot bigger upside in terms of total number of visitors….

    what is Craigslist valued at? (they get 20B visitors per month)

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    • The Fly

      YOU DON’T GET IT, DICKSUCKER.

      Yelp caters to a much, much, much greater audience.

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      • argh

        hence,
        “But yelp probably has a lot bigger upside in terms of total number of visitors….

        what is Craigslist valued at? (they get 20B visitors per month)”

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  17. OG

    Thoughts on ZNGA?

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  18. Sir Jack Wadds

    if anyone ever wanted CLNE now is the time

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  19. Sir Jack Wadds

    it’s being thrown down the elevator shaft with Hannibal Lechter

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  20. Honolulu Trader

    ERY 10.08 …9.33 Fuck oil!

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