Thursday, December 8, 2016
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
14,865 Blog Posts

Merger Monday, Suckers

SKS, ELN and PUBGY were acquired this morning. There are so many people who were short SKS, thinking the old high end retailer was in over their heads. I realize the market needs to cool off sometime. Typically, August is a good time to do that. But how can anyone think about selling short when corporations are flooded with cash?

You are playing with fire.

The only way to hedge yourself is via puts or inverse ETF. Trying to be clever with individual stock sales is a high beta trade and opposite of what one who cares about his/her fiduciary responsibility should be doing.

Yes, good morning to you too, pikers. Le Fly has been up since 6, partaking in physical exercises, prepping for the inevitable destruction of the planet earth. I’ve also thought about my 50% cash position and the fact that IMMR is reporting earnings this week. Then I stopped thinking about it.

I am going to plan a trip today, head down south in an attempt to retrace the good steps of a certain General Sherman, whilst flinging lit matches from my automobile.

Everything else is folly.

Futures are lower, but we’re going up again.

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  1. TraderCaddy

    And a Good Morning to you Le Fly.
    Will you be dressing the In -Laws in a Yankee or a Confederate uniform?

  2. Jules

    Le Fly taking to the boxing gloves is a dangerous thing!

  3. Ray Donovan

    thought on IMMR?? with your 50% position Im guessing you think earnings will be good…typically on IBC a stock going into earnings has a 50-50 chance the stock goes up (essentially a crap shoot) – do you feel better or worse than the standard??

  4. Track Philosopher

    On your travels into the South, when they ask you if you’re a Yankee…. tell them you’re a Braves fan and they’ll go away.

  5. ripper