iBankCoin is better than you.
Cat Stevens – Father and Son
[youtube:http://www.youtube.com/watch?v=iAXP_7-3kuo&feature=related 450 300] Comments »Fabolous – Young’n (Holla Back)
[youtube:http://www.youtube.com/watch?v=7R0nxgPDwl0 450 300]
Comments »What a Squeeze
I caved in, late in the day, and sold a lot of my [[FXP]] position. I have so many pristine ideas on the table, it makes little sense to keep so much money tied up in Chinese fuckery.
The next inverse etf on the chopping block is [[SRS]]. God willing, I will kick it out, north of $120.
As you know, Tim Russert died today, probably due to a heart attack. He seemed like a decent man. His death reminds me how fragile life is, with our temporary existence and pending death, via surprise or deliberate. With that in mind, I’ve decided to “speed up” the amount of banked coin, via stock selections on a very high level of competence and Godliness.
Lucky for you, prior to your demise, you get to read “The Fly’s” rantings and leech on his stock picks. Also, if you’re bored, you can always scurry along to the other iBC bloggers and make money off their picks too. I’ll have you know, my decision to bring on “tabbed” bloggers is deliberate. I’d never let someone blog on iBC, as a tabbed blogger, if he wasn’t a highly competent investor.
In closing, I made massive amounts of coin today in [[FTK]], after deciding to take matters into my own hands and start a short squeeze. You’re welcome.
For the day, I was up 1.55%, making up for all of yesterday’s losses and more, naturally.
Comments »Fly Sell: FXP
I sold 10,000 [[FXP]] @ $81.
Comments »Resist the Urge
I have a very long list of regional banks worth shorting. However, knowing how fucktarded Wall Street is, I am refraining from selling them short, here.
As you know, next week, we will see numbers out of [[LEH]] and others. Call me crazy, it wouldn’t be the first time, I am waiting for a bounce—before selling short. It is possible we can get a sharp, quick, rally on the old “it’s already priced in” jargon. In short, if you have big gains in select bank shorts, be happy and prepare to sell more, at higher prices.
I don’t feel comfortable shorting, after such a big downturn.
However, I am very tempted. Believe me, I have already borrowed large quantities of [[PACW]] (another fucked bank).
If you have to put money to work, why not buy [[RIG]]? It’s been basing out around this range, for awhile, and is poised to bust loose soon.
Or, why not buy a little [[FTK]]? That fucker has displayed “God-like” trading patterns, ever since they warned a few weeks ago. With such a large short position (4 million shares), it’s worth the risk, with a tight stop at $17.
Comments »Fly Buy: FTK, RIG
I bought 2,000 [[FTK]] @ $19.50. And, I bought 5,000 [[RIG]] @ $145.50
UPDATE: I bought 10,000 FTK @ $19.65
Disclaimer: If you buy FTK or RIG because of this post, rebels in Nigeria will attack an unguarded oil pipeline. And, you may lose money.
Comments »Give Me MY Coin!
I’m just rolling on you bull shitters now. This is easy. It’s like taking money out of a homeless mans cup.
This will be a quick post, for I have things to do.
Right now, I like [[FTK]], [[PCZ]], [[RIG]], short [[CHL]], short [[CSE]], short [[AAPL]] “The Skinny Steve Trade”, and a variety of 200% inverse etf’s.
Comments »Look Beneath the Surface
Don’t look at the indices, my little internet friend. The Dow and the Nasdaq will throw you off. Today’s jump is misdirection at its finest, propping certain sectors up in order to get liquid on your dumb ass.
If you quietly look underneath the surface, you will be frightened. You will see all sorts of hideous things, monsters and goblins posing as equities, if I may be so bold.
“The Fly” has completed his latest research project and the results are maddening.
How could so many banks be doomed, at once?
Answer: because they were all drinking from the same tainted pool, fed to them by the asshats at BSC, [[LEH]], [[MS]], [[MER]], [[C]] and [[GS]].
One might urinate his pants, taking a gander at the regional banks, today.
My list of “Fucked Banks” include:
[[FITB]] hart tip Jake Gint, [[HBAN]], [[CATY]], [[ONB]], [[FTBK]], [[FED]], [[DSL]], [[CORS]], [[FHN]], [[TCB]], [[EWBC]], [[ZION]], [[PACW]], [[RF]], [[BBT]] and [[TRMK]], just to name a few.My short list includes: FED, DSL, FHN, CORS (The Reverse Four Horsemen), RF, CATY, RF, BBT, PACW and HBAN.
A few others to note are [[PZN]] and [[WB]].
If you’re wondering: “what shall I do now”? I will tell you:
Run far away. As far as your bullshit legs will carry you. Travel to the mountains of Romania, where you can live off the land and drink goats milk, instead of chocolate bars and disgusting oversized burritos aka food for gluttons.
As for me, I will remain here “saving the country” via betting against bullshit banks and using the proceeds to buy up distressed property, where I will build large underground parking lots, to hold the many cars that I intend on collecting in the coming years.
Top pick: short the banks
Comments »Trapt-Stand Up
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Comments »Forget About “The Long Term”
All this chatter espousing the “long term” viability of bank stocks is absurd. If you were “wise enough” to invest in [[LEH]], [[MER]], [[MS]] and [[WM]] ten years ago, and held like a good little investor, how’d that work for you?
This notion, spearheaded by old fuckers, like Vince Farrell, is starting to piss me off. As a matter of fact, I threw my trader/servant at the LCD screen today.
As you know, I’m not a rapid fire trader. I like to build positions and hold them for a few months, or years, depending on the share performance. I will tell you this, anyone who is telling you to just “buy and hold” is a fucking moron and should have his/her drivers license revoked, for being mentally impaired.
In other news, Icahn loses again, via [[YHOO]]. Ever since Cramer jumped on the Icahn bandwagon, misfortune has hit the NYC billionaire like a dose of reality at [[TMA]].
Looking at the shares of [[LEH]], I do not think the firm will be independent for much longer. Expect to see some sort of consortium bailout soon.
For the day, I booked a modest loss of 1.2%, partly hedged by gains in short [[AAPL]] and [[FTK]].
By the way, the recent price action in FTK has been sweet.
Lastly, after reading over 100 10-q’s from financial companies, a few common themes are abundant.
1. The [[V]] ipo reliquified many banks. As a matter of fact, I’d guess that 75% of the banks I researched realized a gain from the Visa ipo. If you recall, the V ipo was priced during the peak of the credit crisis. Somewhat suspicious, if you ask me. By the way, gains from V, to the benefit of bullshit banks, were in the billions.
2. They’re all being very conservative with their potential losses. I believe most of these CFO’s are understating the true potential loss.
As a result, I am almost ready to start selling a new set of stocks.
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