Waiting for Goldman

The world is waiting for the greedy fuckers from [[GS]] to show their books. Should they post blow out numbers, “The Fly’s” bank plays will prove to be Godly and quite profitable. If they disappoint, it’s back to the drawing board.

During today’s trade, I greatly reduced my short exposure, almost to nil. I am still short [[FED]], due to its gayness. And, I have minor positions in [[REW]], [[TWM]] and [[DUG]].

[[HANS]] shot up today, on BUD for HANS rumors. Most people who know HANS believe [[BUD]] will bid for them, in order to fuck with Imbev’s bid. BUD insiders do not want to sell to those Euro-trash loosers [sic].

I bought a basket of bank stocks today, namely [[UB]], [[CMA]] and [[ZION]]. The difference in the fundamentals are great. I consider UB low risk, CMA moderate and ZION high.

Keep in mind, I do not like the brokers here. I’m just fucking around with some regionals.

Amuse me with gains, mind you.

I nibbled at [[FTK]]. It’s sort of a recent hobby of mine. Actually, the stock is now my largest position.

Finally, anyone buying banana stocks, [[CQB]], deserves to lose money. And, “The Bank of Cocaine” aka [[BAP]] looks like its shareholders are doing a few lines, prior to buying the stock. Today’s gains may be a prelude of more to come, considering their shareholders are fucking stoned.

NOTE: Corn is a motherfucker.

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I bought 1,000 [[FTK]] @ $20.10.

Disclaimer: If you buy FTK because of this post, iBankCoin will vanish from the internets. And, you may lose money.

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I covered my shorts in all of the above names.

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I sold 10,000 [[SRS]] @ $89.10.

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I bought 10,000 [[UB]] @ $45.70. I bought 10,000 [[CMA]] @$32.20. And, I bought 5,000 [[ZION]] @ $37.40.

Disclaimer:If you buy UB, CMA or ZION because of this post, GS will miss earnings and announce a dilutive rights offering. And, you may lose money.

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Aside from [[LEH]], major banks and brokerage firms have tiny short positions. The percentage of shares sold short range from 1-4%. The stocks suck, due to institutional selling, not bear raids.

In the regionals, most of those fuckers have 10-30% of their floats sold short. It doesn’t take a rocket scientist to understand there is more upside in the regionals, providing we get a squeeze.

Within the regionals, I like [[UB]], [[ZION]] and [[CMA]] for a trade.

With oil fading here, yet again, I will buy [[FTK]] and [[RIG]] on a dip.

Finally, I covered my [[LAZ]] and [[CHL]] shorts.

I believe we can rally here.

Top pick: UB

Clarification: I like UB as a conservative play. Also, with the Bank of Tokyo owning 68% of the outstanding shares and Barclay’s 9%, the stock can ratchet higher quickly, if buying interest emerges. ZION and CMA are my short squeeze plays.

ZION is trading .75 its book, with a 27% short position.

CMA is trading .88 its book, with a 13% short position.

UPDATE: I covered all of my shorts, with exception to [[FED]] and a little [[REW]] and [[TWM]]. Also, I own a little [[DUG]]

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“The Fly” is like a lion in the high grass, stalking his prey. My cash position has ballooned; and I am hungry for my next kill. The bounce in the financials is ongoing and I believe it may continue. It’s important to note, only energy stocks are worth investing in. Everything else is just shit on a skewer.

I covered my [[AAPL]] short. The “Skinny Steve” trade can take one only so far. In addition, I’ve been selling off [[FXP]], whenever I look at it.

I have a very long list of regional banks worth killing. The trend has been fairly simple, which is: sell them until they are trading at or below book value. Back in the old days, I’d be buying these fuckers hand over fist. Any bank stock trading below or near book was pure gold; now it’s just a warning.

The reason why I am not selling them now is due to the excessively high short positions in them. Most regionals have 10-30% of their outstanding shares sold short. At the same time, their respective book values are no higher than 1.5 times. This is a recipe for major carnage, for the bears, should the sector catch fire. Numbers out of [[GS]] tomorrow may be the lighter fluid. We shall see.

Despite marginal strength in the banks and tech, the market is weak. [[GME]] caught an upgrade. That looks decent. And, ag related stocks are on fire. What else is new?

For now, I will raise cash and wait until an opportunity presents itself.

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[youtube:http://www.youtube.com/watch?v=FVV0Zy-WNq0 450 300]

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iBankCoin is better than you.

Cat Stevens – Father and Son

[youtube:http://www.youtube.com/watch?v=iAXP_7-3kuo&feature=related 450 300]

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[youtube:http://www.youtube.com/watch?v=7R0nxgPDwl0 450 300]

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