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
23,474 Blog Posts

Defensive Names Are Popping Up

I am officially “disenchanted” with stocks, especially after today’s bloodbath, courtesy of the good folks over at NFLX. I cannot believe I am in this stock large, into the teeth of a fucking calamity. I can only blame myself, as I had no good reason to be long other than to be a contrarian.

Sometimes the herd is right. In this case, I am a regular jackass.

PPC is also getting hit, following numbers out of SFD. However, the numbers were solid and investors are just being bitches about the whole thing. I am not concerned.

What’s important to note, as the indices slide to new intra-day lows, is strength in healthcare, alcohol and tobacco stocks. One cannot deny the possibility of grave and heinous danger when old man stocks start to catch a bid. Having said that, aside from my 35% cash position, MCK is my largest equity holding.

I like the look of silver and gold, especially NAK. Barring some news event that can fuck the stock, I like NAK the best as a barometer on Romney. Should Romney get elected, perhaps he will reign in the fucktards over at the EPA. If that happens, NAK may be permitted to mine in what is estimated to be one of the largest copper/gold mines in the world. On that news, NAK goes to $20.

It is a lotto ticket, nothing more or less.

My HDGE is trending higher again. I am not long the name to make a great deal of money, however. It’s more of a place to safely park cash, than an advantageous bet on declining stocks. Should I make 5-10% holding it, so be it.

In short, stocks look like shit. I feel like selling everything because I am an emotional roller coaster. During times like this, I force moderation by preoccupying myself with things to do. I might go read a book or create some new PPT screens. Or, I might just say “fuck it” and start selling some of my losers.

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19 comments

  1. The Eye-Talian Stallion
    The Eye-Talian Stallion

    EXK to $10

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  2. bleached asshole

    Have a tasty sammich! with Mayonaze!!!!

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    • The Fly

      I don’t eat mayonnaise.

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      • metalleg

        Am I the only one who thinks Ben will not do QE in a couple of weeks?

        I can be wrong, it wouldn’t be the first time, or the 100th, but that’s the last bullet in his gun and I don’t believe he’s ready to use it yet.

        His talking about being at the ready has done well for him to date so until that tactic stops delivering for him, he will continue to talk the talk without walking the walk.

        Maybe his thinking is that he’s going to be out come January so let the next guy be the one responsible for the disaster.

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  3. bobbin4apples

    football season stocks: PZZA, BUD

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  4. mike

    Go eat a sandwich

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  5. Cascadian

    F this market. I’m buying F.

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  6. jimmy_two_times

    Does TLT still hold the key?

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  7. a sure thing

    If F can just get over $9.50 than its safe to say that it will hit $9.51. I’m almost all in, have to shake out the morning fog.

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  8. Jakegint

    That NAK looks tastee.

    _____

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  9. Trading_Nymph

    I actually fell asleep last night ready the Woodford Paper, my reading of it is different. I think he is saying that the “Announcement” of keeping rates low for an extended period of time is what is really helping, not the act of QE. FOMC has this option next week to extend the language for a longer time but imho, I think every biz person in the world knows that they will get rates low for a very very long time and that Bang for the Buck won’t give gains either. LTRO failed because the primary goal was to get banks to lend to biz, but biz has no true demand so why would they take the money. SO FWIW, if Biz here know they can get loans for low interest but there is no demand, why would they take the money here either?? IMHO Oil Rally at this point..when it fades, we are so 2008.

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  10. Heisenberg

    get on the AAPL train.

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  11. D2C2

    À propos PPC:
    The price is currently at $5.

    According to the 10-Q from 2012-07-27, it can be inferred that the book value per share is around $3.8.

    —————————-

    Total Assets: $2939407000
    Total Liabilities: $2084670000
    Weighted Average Diluted Shares Outstanding: 224996000

    http://www.sec.gov/edgar/searchedgar/companysearch.html

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  12. moolahheaven

    Fly, I own intermediate term bonds on SFD, do you think the numbers show long term safety on their balance sheet? (By the way I got my ASS kicked owning the debt on PPC years ago before the bankruptcy).

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