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
23,433 Blog Posts

Sectors to Avoid–Because They’re Going Lower

With the market at new highs, it’s important to watch the underperformers and sell them short. Bear in mind, if a stock cannot rise in this environment, something is wrong with it. This isn’t technical or fundamental analysis. Simply put, I am a servant of trends. On occasion, I become obsessed with a thesis and will fixate my energies on it. But for the most part, I am buying and selling whatever the market is rewarding and punishing.

Steel and Iron should be avoided, especially AKS, GGB, SID, MTL and CLF.

Their balanced sheets are dreadful and people are fleeing the shares.

Small cap oil drillers are death. Avoid them.

Metals and mining are heading lower. Avoid names like WLT, ACI, BTU, MCP, EC and GTI.

Once again, gold and silver miners are heading lower, on their way to fresh 52 week lows.

Stocks that look especially bad are NEM, ANV, IAG, AG, EXK, HMY, ABX and NG.

Copper and aluminum should also be avoided. There will be the temptation to buy into these sectors, hoping for a bounce. But these are bad sectors and really bad companies. The market has discarded them in the same way and fashion that the warrior spartan class tossed deformed babies off mountaintops.

Do not let these bottom feeders taint your rich portfolios with their disgrace.

Ignore them or sell them short.

Have a nice weekend and enjoy the sequestration galas being held throughout NYC this evening.
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13 comments

  1. The Zombie

    The Fly is God

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  2. TMoe

    Wow, my WNR new highs

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  3. dubvfan87

    This just in… COMEX finds horse meat in gold bars.

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  4. Mr.Partridge

    I short Dennis Fartman

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  5. Fidel Cash Grow
    Fidel Cash Grow

    Add $AAPL to that list….

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  6. Belly of the Beast
    Belly of the Beast

    I like how she changed sequestration to SEEquestration .

    Would she say T Mobile, or Tee Mobial ?

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  7. Hahahaha

    This is the most ridiculous story I’ve heard.

    http://www.guardian.co.uk/world/2013/feb/27/marijuana-cannon-us-border-seized-mexico

    It’s raining weed!

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    • Hahahaha

      Put that in your IBC news cannon pipe and smoke/launch it

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  8. JTU

    Monsieur Le Fly, my average cost on DECK is 56.48 (ouch!). I held into earnings and thankfully have gained 15.37% today over yesterday. DECK closed at 46.62 today. It was upgraded by Jeffries from 60.00 to 65.00, also Standpoint Research upgraded to 65.00.
    With the short interest in this stock what do you think the chances are for this stock to move higher?

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  9. Kick Ass Peaches
    Kick Ass Peaches

    Is there any reason SLV usually outperforms GLD on price increases, yet DUST is a much better place to be when shorting than DSLV?

    Does this have to do with the fact that silver, like copper, has more industrial uses, therefore is more valuable in a bull market than gold.

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  10. JB

    Website question: Why not use Disqus for your messages board?

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  11. nursery furniture sets cheap

    I feel other sorts of blog site owners need to give consideration to this kind of website as a model. Highly clean and simple to use style, including impressive content and articles! You’re a guru here in this type of niche 🙂

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