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.
If Bernanke doesn’t taper, TLT will rip higher, along with stocks, by at least 1.5%.
The most likely scenario is a $10-15 billion taper, which might be market neutral to moderate weakness. If, however, the great bearded one decides to “correct” the market with a taper greater than $15 billion, you are going to regret the day you were conceived. Because of this, I have a 40% cash position, listening to Chopin, throwing the bone around the house for the dog.
As an aside, it looks like the new iPhone is getting great reviews, which bodes well for GTAT and RBCN, if in fact sapphire is being used for the home button. People who know how to do channel checks are suggesting pricing is firming, so you might want to keep your eyes on those two for explosive moves, especially RBCN.
FLTX is doing a secondary today. That’s another name that I like for the long term, along with WDAY.
Lastly, I want to own MHO and OWW–but at slightly lower prices. It’s worth noting, the BDI index has been shooting higher daily. My favorite dry bulk shippers are EGLE, SBLK, GNK and DSX.
You gobblins are going to lose all of your money one day, playing with your margin accounts, betting on stocks. You know and I know it.
I see how people treat their money. They view it as numbers on a screen, not real, like true gamblers at the OTB. Degenerate pigs, betting on an upward spiraling tape into World War III. You should be ashamed of yourselves. If your parents were alive, they’d punish you and send you to your room.
The market has a putrid scent of perfume, a decadence I do not care to shower myself with. I can see tomorrow’s headline today (time machine) and it spells doom for many in the reader class of the SS iBankCoin.
You trust in online gurus, who do nothing other than blabber a few things on the teevee or type a few words into the computer. But they’ve never suffered with client assets. They’ve never a had 6’5, 250lb client show up at their office (RAMP’d), unexpected, at 8am to discuss why their stock was down 50% the night before. All they know is the blog, the online persona that protects them from reality.
“The Fly” shields himself, not for the sake of himself or his family, but for the protection of his readers. I’d kill every last one of you if anything interrupted my nightly cup of Earl Grey tea (a little milk and a dash of honey).
The Federal Reserve is going to disappoint tomorrow and those who are leveraged long are going to lose 3 weeks of gains inside of two short, yet dreadful, trading sessions.
I own size in YELP, ANGI, IMMR and POWI, which is allowing me to participate in this run up. But I have no interest in jumping into a fresh batch of speculation, ahead of what can be a stark moment in the history of the exchange.
As an aside, I find it humorous that all you baby boomers blame “violent video games” for mass murders. Look friendo, just because you were subjected to playing with marbles and wooden rocking horses as a child doesn’t give you an air of superiority. As a matter of fact, your generation is the very worst generation since the collapse of Rome. Instead of playing with games, you hippie communist bastards gleefully took up the avocation of heroin usage, at a time of war.
Shame on the baby boomer generation for what they’ve done to this country, shaming the very best generation (their parents) by tarnishing this country with ineptitude.
Technology is a good thing, even video games.
The market is very risky from now until the close of trade tomorrow. “The Fly” is up 53% for the year and is busy listening to Chopin, whilst working out at the gym, preparing to rip the heads off his enemies like overripe peaches.
Despite having a ravenous appetite for more gains, I’m inclined to wait out the Fed meetings, due to the potential risk of “taper.” We were down a whole 3% in August, marinating in the depths of squalor and barbarism. Now we’re up 4% in September, with commentators gleefully sashaying in and out of CNBC’s studios declaring “higher prices ahead.”
The momentum trade works until it doesn’t.
I like FSLR down here, especially with The PPT flagging oversold. However, historically, solars perform dreadfully in October. I’ve regained market supremacy in 2013, following a disappointing 2011 and 2012. The formalities of the Fed meetings are somewhat meaningless in the long term. We know the government cannot afford higher rates, being saddled with 16-17 trillion in debt. Rates will be low FOREVER or until the country dies. Knowing that makes worrying about dips superficial. You’re all jackasses, gay giraffes driving iced cream trucks.
Let the weak and financially disabled fritter their money away, betting on Fed day. If you’re up like me, there’s no reason to play along with the amateurs.
Part of the problem with IMMR, despite the volume, is the concentration of revenues with Samsung, now more than 50%. At present valuations, the stock is trading about 10x sales, which isn’t that much, all things considered. The question is: how do we get a richer valuation for the stock?
The only way the happens is diversification of the customer base, which is happening, slowly but surely. The new playstation 4 will be a brand new revenue source for them, as well as 3rd party control makers for the new Xbox. But we all know what turns IMMR from a $10-20 stock to a $40-50 stock: Apple.
In my opinion, after speaking with management, Apple is extremely hesitant of adopting Immersion’s haptic technology, partly due to pride of not having it first and arrogance. It’s widely believed that if Apple offers haptics, they will try to do so without paying Immersion their proper royalties. Eventually, this will end up in court and IMMR will win, but at what expense?
The more immediate issue that I’ve been exploring is the shareholder base. Amazingly, more than 70% of the shares are owned by institutions, patiently waiting for this to materialize. If you think about it, that’s a shockingly high number, considering they’re small cap and a speculative IP play.
Then we get to the curious case of Dialectic Capital, a NYC based hedge fund with about a billion under management. Its manager, John Fichtorn, is on the Immersion board, due to once having a 7% stake in the company. Originally, he got on the board by asking for change at the company, helping it divest from non-core businesses and focus the company on shareholder value. His investment paid off, in spades, with the stock up sharply since his original investment.
However, as of late, he’s been a seller of the stock. In private emails, he describes his position as being “too large for his fund” and he’s been paring it down to an appropriate size. There’s nothing wrong with selling. Hell, I do it all the time. However, I’m not on the board of directors, privy to material information that might be a predictive element of where the stock is heading.
I have a big problem with this.
If Mr. Fichtorn’s advocacy is over at Immersion, he should resign from the board and make room for someone who will not raise eyebrows whenever an S-4 is filed. He’s not just an ordinary shareholder, but a hedge fund manager with a big stake, on the board, selling regularly.
I don’t know much about Dialectic’s performance and I haven’t done much research into the matter. However, I do know he’s been short HLF, long GLD and has a big stake ln TLAB, a perennial dog. It seems to me, on the surface, that his 2013 numbers might be coming in a little less than stellar, which makes his big win in IMMR an all too attractive “source of funds” to throw good money after bad.
My back of the envelope valuation for IMMR is $23, based upon a 10x p/s ration, off projected 2014 numbers.
I’ve been busy all day threatening companies with my new warchest. I managed to breakeven today, despite the nice looking Dow. As expected, the market sold off the news, that was supposed to be sold off.
This makes no sense, going up like this because some guy, who was never going to be the Fed chair, isn’t going to be the Fed chair.
I sold out of my GOGO, raising cash levels to 40%. I still own substantial positions in IMMR, YELP and POWI. Barring some sort of huge price surge in the aforementioned securities, I doubt I will sell them prior to seeing them through earnings.
I have another new issue that I am investigating, as it is incredibly cheap on paper. The business is slightly impaired, which has resulted in a steep discount. However, I can’t buy into this rally, even though many of my favorite names like OWW and MHO are rising without me.
It doesn’t matter.
I am up 53% for the year and have nothing but wins under my belt. I intend to be patient and buy the blood, if at all possible.
The market is rallying because Summers, who was probably the very worst pick for new Fed chairman in the history of Fed chair candidates, is out. Most are assuming Janet Yellen will be the next Fed chair, buttressed by the liberal tag line–“she is a woman.”
First of all, what sort of man picks an ultra-political guy, like Summers, to head up a non-partisan arm of the government? The answer to that question is an ideologue.
Don’t be surprised if Obama picks someone else to head the chair, someone retarded like Kohn or worse Stanley Fischer.
I am pleased to see the futs roar and I will most certainly take this opportunity to lighten up and book more profits. But, having said that, I do not believe this is a sound reason to rally 200 points.
Amazingly, S&P futs are up more than 20, following Larry Summers removing his name for new Fed chief. Apparently, the market approves of having a non-partisan bastard hack at the helm of the most important American institution.
I’d be shocked if this rally wasn’t sold off. Nevertheless, we are at the heights of hedonism and excess.
The house of pain continues for the vagabond short sellers, bankrupting themselves for believing everyone else will go bankrupt.
