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
23,460 Blog Posts

DOING GROSS (no homo), INTO THE BELL

I am boolish on financials here, long LAZ, SBNY, BX and BCS. I added a little something to that cocktail, getting long JNS. In this environment of bond market fuckery, I cannot think of a better play than JNS, with William H. “SHUT THE FUCK UP WHEN YOU’RE IN MY BOARDROOM” Gross at the helm. If you were a helpless institution and needed bond management, who would you trust, some punk left over at Pimco or Bill?

Exactly.

For the day, I sold 75% of my HABT position, because insiders are fucking greedy bastard motherfuckers. I have no patience for this sort of trickery. I also sold WYN. With some of the proceeds, I bought JNS and GRUB (twice). Yesterday I added LVLT and SKX to the mix. I intend on adding to both stocks next week.

I had a nice winner in TA today, who crushed numbers by 88 cents thanks to higher gross margins for their gasoline sales. I love that stock, and MUSA, into weaker gasoline. Bear in mind, gas is only up due to exogenous factors in the northeast, due to snow. Crack spreads blew out to new highs in recent weeks; but that is dissipating now that the snow is melting.

Hands down, my favorite stock here is GRUB, the perfect play off cheaper gasoline/restaurants seeking ways to increase sales.

All in all, it was a good week; but the past few days were fucked up thanks to HABT. But that is almost behind me now and I am super-focused on maintaining a winning strategy, which entails cutting out losers quick before they metastasize into something deadly.

My cash position is 15%.

NOTE: Be sure to visit tomorrow, as I am on my Orsen Welles kick.

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22 comments

  1. zuul

    SPY will spend this weekend, sanding, staining, and buffing and olde wooden device not seen in public for some time now.

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    • UncleBuccs

      Also, word is the blade is being upgraded to Valyrian Steel.

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    • it is showtime

      The iiiiiides, of March, are calling. Come on now we have Isis for beheadings now. They take visa or cash

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  2. gorby

    Your blog has this serene feel lately.

    extra Dean Martin

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    • Dr. Fly

      Nothing says Dean Martin like screaming “motherfucker” to an audience.

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      • gorby

        I think he was a tax collector for the mob.
        He always brought the Pizza

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        • mx2101

          Based on some of his pop hits. It’s easy to think of Dean Martin as a greasy lounge lizard crooner with a puking delivery. If you did deeper into his catalog, it is clear he really can deliver an excellent performance,

          Back then, the production options were limited- edit tape, echo chamber, and simple EQ. Most places did not have compression or limiting available.

          The excellent Sinatra album “Songs for swinging lovers” was recorded and mixed live. They didn’t edit takes together on the tape, and the engineer watched Sinatra and mixed his level by hand.

          It is correct that later, in the early 60’s the live echo chamber could be considered the Auto-Tune of that era. Some memorable hits would be completely different without the vocal buried in a live room echo sound.

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  3. smartestone

    retail, healthcare &, treasuries

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  4. incometrader

    There’s a huge bubble in gourmet burger places, all of which taste no better than what my local chain has been putting out for decades.

    Restaurant IPOs at outrageous valuations for all the quacking ducks is the hot thing right now. None are worth more than their IPO price and many not even that.

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  5. djmarcus

    Crack spreads also high as many refiners currently undergoing maintenance; strikes at some; exxon refinery catching fire in CA ~1 month ago doesn’t help as refiners already 95%+ of the time… refiners going to make bank, bro.

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    • djmarcus

      Plus no more storage for oil means it’s gotta be refined and used or refined and exported. Nice tailwinds.

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      • steak

        Crack spreads at what, like 26? You’re sort of missing the fundamental picture/problem. Of course refiners will make more products; that is inevitable. Thing is, products are going to get crushed as a result of increased supply. With no end in sight to the overproduction of crude, it’s unlikely refiners are going to be selling products at high margins. You’re seeing a structural shift that’s never been seen before; OPEC’s no longer holding the bag. They’re in direct competition with the U.S., for the first time.

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  6. it is showtime

    Put some wood fibers in those burgers. Lumber real cheap

    (bear for lumber ohboy ohboy ohboy)

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  7. rangersfan

    I no doubt respect your opinion on Gross and otber things but have to disgree, my faith is in Gundlach he is the bond champ no doubt. Just listen to his webcasts.

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  8. dragun

    what about the jokers over at Double Line?

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  9. the profit

    Putin is missing. that is all

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    • alf44

      .

      Putin is laying low after his most recent … ah hem … “cosmetic procedure” !

      Prolly getting Pec and Calf implants !

      .

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      • budh

        Dude is on Paternity leave. Russia is very progressive in some areas.

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  10. budh

    Refinery strikes are getting settled, and that big exxon refinery in Kalifornia is down after their fire. Big crack spreads on the left coast.

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  11. budh

    Tomorrow is 3.1415; shoulda got some DPZ.

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