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
16,034 Blog Posts

Fly Buy: FXP

I bought 2,000 FXP @ $70.

Disclaimer: If you buy FXP because of this post, Greenspan will take over the Fed, yet again. And, you may lose money.

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If The Fed Cuts by 50…

The fianacials and homebuilders will be off to the races.

Distressed names will be in play, such as: CORS, ACF, CCRT, CFC, SPF, HOV, BZH and FMT.

However, with my money, I’d only be in those names for a very short period of time.

The real winners of Fed easing are the utilities, as old fuckers desperately look for yield.

Stocks like CEG, EIX, NGG, SO, PCG and ED should continue to outperform, in a low rate environment.

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How to Play the Fed

The million dollar question is: will the Fed cut by 25bps or 50bps?

Of course, I believe Bernanke should go gangster on the shorts and do 50. However, most people believe 25 is probable.

Considering how much we have run up, I find it hard to risk too much capital up here. I get the sense, at the very least, we are due for a minor pullback. So, for a hedge, I will be buying some more FXP, down at these levels.

Fuck China.

As for today’s trading:

Well, MVIS did it again. They released some nondescript news, with no financial details, and the stock shit the bed, once again. Basically, investors are bored with the name and want more substance. They want names, dollar committments and technological progress.

With any luck, the stock will get bid up during CES.

Apparently, iiG has bottomed. I just took out a trading position on it. Nothing big—just a tester.

Select retail names have mojo, like LULU, TBL and VLCM. However, for the most part, the sector is toxic.

GNSS was put out of their misery, being bought out at absurdly low levels. On that news, TRID is enjoying a bounce. To me, it’s unbelievable how commoditized the semi’s have become. They suck.

Finally, energy, networkers and ag stocks look decent. However, for now, ahead of Bernanke, I’m more interested in throwing lunch meat at my trader/servant, than fucking around, buying stocks here.

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Fly Wins Again

Gaming VMI was easy. It was like taking clean away from a homeless man.

Typically, small fish (you) get scared when their stocks drop off the face of earth. Luckily, “The Fly” is not a piker and does not get scared out of positions, like a little bitch.

When VMI was tanking, the first thing I did was monitor its competitors, specifically LNN. The key tell, for me, was seeing LNN hold its butter, in the face of market “homo-hammering.” Additionally, DE, MOS, POT and other ag plays kept their gains.

From that, I deduced, the decline was not based upon fundamentals, but supply/demand. Meaning: some stupid hedge fund was blowing out, at any price, in order to raise cash.

In other words, an optimal buying opportunity.

After seeing the future, “The Fly” knew he had to buy as much VMI, “before it was too late.” As you know, VMI is now “The Fly’s” largest position—and it’s on fucking fire.

In other words, “Fly wins again.”

Aside from that, the market is positioned to eclipse 14,000, by year end, regardless of what Woodshedder says.

Call me a stupid bull. Fuck you, I’m banking coin.

With my money, I want to own CN, RS and ACF—for a trade.

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