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
23,375 Blog Posts

Sad Face Reversal

I was feeling optimistic this morning. I had the plumber in my ceiling, punching holes through the sheetrock, putting in new copper piping. My stocks were all ripping higher off the better than expected housing numbers. Then the bastard orphans of Greece (Cyprus) and ruined my day. Literally, I went from being +2% at 10 am to down now. I don’t even want to look at my intra-day profit and loss. Simply speaking, it’s too much to bear.

For me, nothing changes. Ben Bernanke still has the biggest blunt on the block and Obama isn’t going to change a damn thing that might inhibit his swagger. We need to keep up with the Joneses and buy some new intercontinental ballistic weapons systems to show those third world peasants who’s boss.

RAS is most depressing for me. After seeing it so high and mighty, sitting atop a throne with a crown on its head, I now see it cavorting around like a monkey, in the sewers with the rest of the tribe.

Downright depressing.

Looking forward to my day ahead, I need to head over to buy some paint, for the sheetrock guy will be here in the AM and he doesn’t paint. Therefore, Le Fly will take to the brush and do the deed himself, believe it or not.

Comments »

Chinese Lies

This is an obvious one.

CLF is getting hammered. Apparently, China no longer needs their iron ore for their ghost cities. The bonds are still trading above par, with the 2040’s just about even. I’m not sure what the market is saying by hammering CLF. Both CLF and WLT have been serial underperformers, which is the exact opposite of what they should be doing if China was really growing at 8%.

 

CLF

I’m not a buyer of any stock that is heading lower. I am, however, intrigued by the carnage in CLF, as it is a strong tell for what those lying Chinese bastards are really doing.

Comments »

It’s Housing Stupid

You are not permitted to argue with mathematics.

 

Groundbreaking to build homes rose in February and new permits for construction climbed to the highest level since 2008, a sign the nation’s housing market recovery is gathering steam.

The Commerce Department said on Tuesday that starts at building sites for homes rose 0.8 percent last month to a 917,000-unit annual rate. That was in line with analysts’ expectations of a 915,000-unit rate.

Starts for single-family units, which comprised about two thirds of the total, edged up 0.5 percent to their highest level since June 2008.

Permits for future home construction rose to a 946,000-unit rate, also the quickest since June 2008.

The housing market has regained some footing after a historic collapse that helped push the economy into a deep recession.

Home building added to national economic growth last year for the first time since 2005 and Tuesday’s data reinforces the view that it will provide stronger support this year. That could help counter the drag expected from tighter fiscal policy as Washington works to shrink the federal budget deficit.

“Home building continues to recover and add to the recovery,” said Gus Faucher, an economist at PNC Financial Services in Pittsburgh. “The rise in permits suggest we will have a solid spring.”

Source

“The Fly” plays “the wall board”, very long Warren Buffet’s very own housing play, USG.

I also prefer BZH over the other builders because they are smaller capped and in the midst of repairing their stupid balance sheet. Back in the old days of last week, my largest position was BX, largest corporate owner of residential homes in the US. After them, PSA is steadily increasing their exposure, storing human beings for a nice return.

Lastly there is my largest position, RAS, who are commercial RE lenders, investors and managers. This company is in the midst of revival, penis hanging out, running around town with cocaine on their faces (absolutely no homo, don’t even think about it). RAS just increased their divvy. Expect more of that in 2013.

 

Comments »

Cypriot Response to Banksters Has Been Milquetoast, Thus Far

They’re all on vacation, chain smoking cigarettes, doing ridiculous dances with plates on their heads.

But one man took a stance. Once man is going to drive his freakin’ bulldozer right through the bank until he gets his dough.

 

The rest of Cyprus are at a rave.

Comments »

ATTENTION RETARDED SILVER TRADERS OF AMERICA

You’ve lost your minds, because this, clearly, is a big lie. As we speak, the JP Morgan conspiracy to make silver free grows bigger.

U.S. District Judge Robert Patterson in Manhattan said the investors, who bought and sold COMEX silver futures and options contracts, failed to show that JPMorgan manipulated prices at their expense, including by amassing huge short positions that were not justified by market events at the time.

In a decision made public on Monday, Patterson said that while the investors showed that JPMorgan had the ability to influence prices, a fact the bank did not dispute, they failed to show that the bank “intended to cause artificial prices to exist” and acted accordingly.

A lawyer for the investors did not immediately respond to a request for comment.

Click here for more government lies and propaganda

Comments »

Let’s Just Wait Here For the Europeans to Save the Day

Today was a negative day for the bulls, no doubt about it. I started the day with a chest full of courage and venom, but left unsure and timid. I sold out of CALL, despite The Devil’s assurances, because it’s trading like someone knows the earnings will blow. If the earnings are good, I missed out. If they do what I now expect, I dodged a bullet, even though I just took an ax to the leg–losing 20% on the “trade.”

What sort of ridiculous trade is that? I lose 20% on my investment in one god damned week, based on some tip?

My JCP and AG shorts shot higher, while CCL dropped.

It was a slightly negative day for me, down 0.5%. I have a particular stock in mind that I’d like to purchase, in pretty good size. However, I want to see how this european soap opera plays out. I don’t feel like committing big funds with that dark cloud looming above.

VHC looks interesting from 21-23. I’d like to buy back, if only I was afforded a catalyst. Coal was up nicely this morning, but gave it all back mid-day.

Bottom line: There are lots of reasons to buy stocks now, as well as sell them. Let’s see what Europe does with Cyprus to decide out next series of moves. Should they go the free money, cocaine train rout, we’re gonna melt up hard again.

Comments »

“The Devil” Bombed Out

I sold out of CALL for a 20% loss.

I talk about his good picks; therefore, I must disclose when he sucks harder than a dirty hooker in the south of bronx. I feel like throwing a javelin though his face.

Comments »

Here Are My Top 5 Positions

I have no shame in my position, being 110% net long. I’ve made my bed and continue to lie in it, hedonistically, eating grapes, drinking ambrosia.

This is a full disclosure blog, as I let the people be my ultimate judge and jury (it’s worth noting, The House of Fly does not recognize any court of law as its equal and shall respond violently to any sentencing upon the estate).

1. RAS

2. USG

3. BZH

4. WNC

5. BV

For the day, I am flat.

Comments »

Go Ahead, Do it; Sell Your Stocks. I Dare You

For the sake of brevity, I am going to condense this post into a 10 salient thoughts.

1. Just because you sold stocks doesn’t mean they’re heading lower.

2. Calling tops in this market is equal to boating the horn of africa in a canoe. Good luck with that.

3. Don’t leave financial advice in the comments section.

4. When stocks go higher, they tend to keep going higher.

5. When stocks goes lower, they tend to reverse and go higher.

6. The over-arching trend is higher, since the beginning of time (sans the dark ages).

7. Generally speaking, it’s a dumb idea to bet against the guy with the printing press.

8. If the market should go down for a few days, even weeks, that’s called a buying opportunity, not a top.

9. TVIX is for retards.

10. Ben Bernanke is waiting for you to try something stupid. Go ahead and test him.

Comments »