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
16,862 Blog Posts

I Quit

I have things to do, people to see. I’ll have you know, “The Fly” doesn’t have time to waste with internet fucktards, who are unable to make cogent financial decisions.

In the meantime, fellow bloggers, sign up to Ragin’s stock contest. I bet you third rate bloggers don’t have the *bollocks* to go head to head versus me.

With that being said, I bid you fuck you.

NOTE: The market looks strong today. If I was forced to buy something, I’d consider [[RIG]] or [[WBD]].

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Bottom Fishers Wear Pink Dresses

Considering how gay everything is, the market is behaving quite well, with gains in a variety of stocks. Frankly, one (I) would think the market, with all the bad news, deserves to get its fucking mustache punched off. Nevertheless, here we are, sitting pretty, and the market has a full grown Rollie Fingers ‘stache.

[[REW]] is down slightly thanks to [[HPQ]]. In general, tech is weak, with the notable exception of the bastards at [[RIMM]]. Being both long and short RIMM, I am somewhat conflicted and don’t know which way to root.

[[USM]] and [[GRMN]] have been “de-balled.” GRMN is a homo stock. No one likes their stupid devices. Sell it twice.

Finally, [[ARTW]] has been “mushroom clouded” in recent days, proving not all ag plays are equal. And, judging by the current tone of the market, I sense a rally is in the cards. You might want to refrain from adding to short positions, at least until the end of the day.

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REM – Bad Day

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

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Ball-Less Rally De-Cocked in Late Trading

I’ll have you know, “The Fly” is extraordinarily busy today, with dinner parties to attend and gold bricks to count. Just feel comfort in knowing, I made money today, despite this mornings sharp spike, egregiously due to England “going Commy” via Northern Rock.

Apparently, after the bell, [[HPQ]] posted a good number. No surprise there, really. I do not expect the numbers of bellwether tech names to be hit until the 2nd half of 2008. If your IQ is above 120, you will take the two bucks in HPQ— and fucking run with it.

My investment philosophy is shifting a bit towards killing commercial REITS, via [[SRS]]. In addition, I am slowly reducing my downside exposure to the financials and will continue to do so, the closer we get to the March 18th Fed Day. However, I will “redouble” my shorting efforts, if the sector bounces.

Finally, I am amazed that sane people are not alarmed over the spike in gold. Frankly, there is way too much complacency in the market, as indicated by a paltry 25 reading on the Vix index. If you haven’t done so yet, be sure to protect your downside, going into earnings warning season, scheduled to occur in about two weeks.

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Redux: Bear vs. Bull

[youtube:http://www.youtube.com/watch?v=THn4OmwxT_I 450 300]

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Fly Buy: REW, SRS

I bought 5,000 [[REW]] @ $72.90 and 2,000 [[SRS]] @ $113.

Disclaimer: If you buy REW or SRS because of this post, your patents will be deemed worthless. And, you may lose money.

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Fly Sell: RIMM

I sold short 4,000 [[RIMM]] @ $93.

Disclaimer: If you sell short RIMM because of this post, your wife will leave you for Dennis Kneale. And, you may lose money.

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