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
21,515 Blog Posts

What’s the Point?

I can sit here and wax poetic about the virtues of owning XYZ, how gold, bonds, and stocks all make sense and how Portuguese and Irish borrowing costs are supposed to be at zero percent: but I’d be lying.

BABA didn’t cook the books, so they missed revenue targets. Perhaps we know why the Chinese government was upset with them yesterday? Crooks and scoundrels.

I own a little BABA, but I own more HAR, which is my favorite way to play the auto sector. But who cares, really? I see what’s going on, the utter despair out there, good folks chasing bad ideas down the sewer hole into the jaws of alligators. I see it all.

It’s important that you know that I am in a constant state of cynicism and rage, upset at the world for being so great, yet so utterly dumb.

The market is a profound place to lose fortunes at break neck speeds. The longer I play this game, the less I want to own small cap stocks. It’s the lure of elephantine profit that keeps me coming back, like a crack fiend loitering about the old crackhouse.

Enough is enough: let’s bounce already, shall we?

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18 comments

  1. vampyr

    MickeyDee, I’m sorry I left you standing there at the curb. I should have picked you up when I saw you but sometimes I”m just a root vegetable and I couldn’t see us being together. But I did have faith in you. I still do but you are outside my comfort zone right now. Maybe next time.

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  2. budh

    I have YHOO, not BABA. Marissa Mayer has bad timing.

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    • rigged game

      No, YOU budh have the bad timing.

      You should have sold in the after-hours when YHOO went to 52 plus after their earnings/alibaba announcement.

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      • budh

        Perhaps Marissa and I both have bad timing. You must have sold YHOO in the after hours at 52.

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        • rigged game

          No, I didnt, but I sold the March 44 calls for $8 bucks a couple of weeks ago.

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  3. vampyr

    It would not be the craziest yarn ever to spin a close knit future for MAYER BABA.

    http://www.alibaba.com/?uptime=20130104&ptsid=1012000032279121&crea=47039636043&plac=&netw=g&device=c&ptscode=0110101010030001

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  4. matt_bear

    homebuilders, sir.

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  5. sloop

    WHAT THE FUCK DOES “GREEN” LOOK LIKE? I FUCKING FORGOT GOD DAMN IT!!!!!

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  6. gappingandyapping

    A depression worse than 2008 is upon us if oil/nat gas don’t stop panic crashing. And I am not being dramatic.

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  7. budh

    Bot some STNG on this dip. Just a wild assed gamble.

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  8. juice

    Fly, you wrote “the less I want to own small cap stocks.”

    should that be ‘small capped stocks’?

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    • Dr. Fly

      Juice
      I am so distraught right now I am committing all sort of elementary school type grammatical errors.

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      • Trent J

        Maybe an early trip to the gym would do you well good Sir? Some pull ups until you can’t feel your arms!

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  9. rangersfan

    $GOOGL looks horrible, look out below

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  10. gappingandyapping

    Pretty soon we will all be underwear salesmen.

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  11. zheeeem

    Outstanding post, Monsieur Fly.

    The market is, technically speaking, as insane as I’ve ever seen it.

    I’m well above my basis for both YHOO and BABA, so I’m a bemused spectator. I’d buy more at these prices, but I have all I want. Spinco was the best deal Mayer could possibly give shareholders, and 40% yoy revenue growth at BABA doesn’t suck at all. The only disappointment here would be the moron analysts who, once again, guessed wrong.

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