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.
I don’t need this shit. Did you see how stupid the volatility was today? Wait until the deviants from Europe get together and poke fun at one another. The last thing I need is a heart attack for X-mas. “The Fly” intends to drink whiskey and splurge on holiday nonsense. I will eat rib roasts and consume large quantities of left bank Bordeaux.
I edged higher today by 0.45% and opted to sell a large position of mine, CVI, because crack spreads are nose diving again. My cash position stands at 37% and I have a lot of fire power to buy shit like GMXR. Call me Santa Fly.
In closing, fuck this end of the year homo shit. “The Fly” is much more interested in gaudy watches and unnecessary discretionary spending.
People, this stock is going to quadruple zeroes, $00.00. Yet for some oddball reason, the lowest form of human being is buying this stock in size. I wish nothing but the worst for you, AND MORE.
Back in the 90’s, boiler rooms would take bullshit companies public and sink unsuspecting investors in the process. This was an especially egregious and deceptive scheme because it was done at a time when big investment banks were making fortunes for their clients via high grade, well priced offerings. Then the dot com bubble came, putting the ipo market on a pedestal. It was an honor and a privilege to get in on a hot ipo. For the most part, they were reserved for the biggest and best clients.
Fast forward to today and our big investment banks, seemingly desperate for investment banking revenue, are conducting themselves like Stratton Oakmont circa 1994. Their mis-priced, bullshit, offerings are taking a wrecking ball to unsuspecting investors and as a result are greatly damaging the sentiment of the entire market. After all, if you can’t make money in a hot ipo, what can you make money in?
Message to deal makers: STOP OVERPRICING YOUR FUCKING OFFERINGS.
The following offerings belong in the Hall of Shame, alongside the fucktarded lead underwriters who did these deals.
Intermolecular, Inc. IMI Morgan Stanley 9.65 8.88 10.00 -11.20% 2011-11-18
107 Air Lease Corporation AL J.P. Morgan 25.00 23.25 26.50 -12.26% 2011-04-19
106 American Capital Mortgage Investment MTGE Citi 8.00 17.58 20.00 -12.10% 2011-08-04
105 Enduro Royalty Trust NDRO Barclays Capital 13.20 19.06 22.00 -13.36% 2011-11-04
104 BCD Semiconductor Manufacturing BCDS Jefferies 6.00 8.93 10.50 -14.95% 2011-01-28
103 Box Ships Inc. TEU UBS Investment Bank 10.00 10.23 12.00 -14.75% 2011-04-14
102 Yandex N.V. YNDX Morgan Stanley 52.17 21.48 25.00 -14.08% 2011-05-24
101 BankUnited BKU Morgan Stanley 29.00 22.28 27.00 -17.48% 2011-01-28
100 Adecoagro S.A. AGRO Credit Suisse 28.57 9.08 11.00 -17.45% 2011-01-28
99 Zipcar, Inc. ZIP Goldman, Sachs 8.33 14.84 18.00 -17.56% 2011-04-14
98 HCA Holdings, Inc. HCA BofA Merrill Lynch 126.20 23.65 30.00 -21.17% 2011-03-10
97 Tranzyme, Inc. TZYM Citi 13.50 3.10 4.00 -22.50% 2011-04-04
96 TMS International Corp. TMS BofA Merrill Lynch 12.50 9.95 13.00 -23.46% 2011-04-14
95 Freescale Semiconductor Holdings I, Ltd. FSL Citi 43.50 13.61 18.00 -24.39% 2011-05-26
94 Responsys, Inc. MKTG Morgan Stanley 6.62 8.99 12.00 -25.08% 2011-04-21
93 Apollo Residential Mortgage, Inc. AMTG Morgan Stanley 10.00 14.90 20.00 -25.50% 2011-07-22
92 Apollo Global Management, LLC APO Goldman, Sachs 29.76 13.82 19.00 -27.26% 2011-03-30
91 Skullcandy, Inc. SKUL BofA Merrill Lynch 9.44 14.59 20.00 -27.05% 2011-07-20
90 Kosmos Energy Ltd. KOS Credit Suisse 30.00 12.80 18.00 -28.89% 2011-05-11
89 Solazyme, Inc. SZYM Morgan Stanley 10.98 12.94 18.00 -28.11% 2011-05-27
88 RPX Corporation RPXC Goldman, Sachs 8.43 13.47 19.00 -29.11% 2011-05-04
87 C&J Energy Services CJES Goldman, Sachs 11.50 20.42 29.00 -29.59% 2011-07-29
86 Pandora Media, Inc. P Morgan Stanley 14.68 11.00 16.00 -31.25% 2011-06-15
85 China Zenix Auto International Limited ZX Morgan Stanley 12.90 4.06 6.00 -32.33% 2011-05-12
84 Jiayuan.com International Ltd. DATE BofA Merrill Lynch 7.10 7.29 11.00 -33.73% 2011-05-11
83 SunCoke Energy, Inc. SXC Credit Suisse 11.60 10.69 16.00 -33.19% 2011-07-21
82 Digital Domain Media Group, Inc. DDMG Roth Capital Partners 4.92 5.53 8.50 -34.94% 2011-11-18
81 21Vianet Group, Inc. VNET Morgan Stanley 13.00 9.65 15.00 -35.67% 2011-04-21
80 Phoenix New Media Limited FENG Morgan Stanley 12.77 7.13 11.00 -35.18% 2011-05-12
79 BG Medicine, Inc. BGMD Lazard Capital Markets 5.00 4.40 7.00 -37.14% 2011-02-04
78 Boingo Wireless, Inc. WIFI Credit Suisse 5.77 8.50 13.50 -37.04% 2011-05-04
77 Preferred Apartment Communities, Inc. APTS Wunderlich Securities 4.50 6.16 10.00 -38.40% 2011-03-28
76 Zuoan Fashion Limited ZA Cowen and Company 6.00 4.27 7.00 -39.00% 2011-02-15
75 Vanguard Health Systems, Inc. VHS BofA Merrill Lynch 25.00 10.60 18.00 -41.11% 2011-06-22
74 MagnaChip Semiconductor Corporation MX Barclays Capital 9.50 7.90 14.00 -43.57% 2011-03-11
73 Lone Pine Resources Inc. LPR J.P. Morgan 15.00 7.29 13.00 -43.92% 2011-05-26
72 AcelRx Pharmaceuticals, Inc. ACRX Piper Jaffray 8.00 2.80 5.00 -44.00% 2011-02-11
71 Horizon Pharma, Inc. HZNP Stifel Nicolaus Weisel 5.50 5.00 9.00 -44.44% 2011-07-28
70 Taomee Holdings Limited TAOM Credit Suisse 7.19 4.78 9.00 -46.89% 2011-06-09
69 NetQin Mobile Inc. NQ Piper Jaffray 7.75 5.90 11.50 -48.70% 2011-05-05
68 Demand Media, Inc. DMD Goldman, Sachs 8.90 8.06 17.00 -52.59% 2011-01-26
67 NeoPhotonics NPTN BofA Merrill Lynch 7.50 4.92 11.00 -55.27% 2011-02-02
66 Tudou Holdings Limited TUDO Credit Suisse 6.00 12.97 29.00 -55.28% 2011-08-17
65 Gevo, Inc. GEVO UBS Investment Bank 7.15 6.30 15.00 -58.00% 2011-02-09
64 Sequans Communications S.A. SQNS UBS Investment Bank 9.17 4.10 10.00 -59.00% 2011-04-15
63 Trunkbow International Holdings Limited TBOW Roth Capital Partners 4.00 1.89 5.00 -62.20% 2011-02-03
62 Renren Inc. RENN Morgan Stanley 53.10 3.64 14.00 -74.00% 2011-05-04
61 Kips Bay Medical, Inc. KIPS Rodman & Renshaw, LLC 2.06 1.72 8.00 -78.50% 2011-02-11
60 Imperial Holdings, Inc. IFT FBR Capital Markets 16.67 1.70 10.75 -84.19% 2011-02-07
You should have at least 20% cash right now into that cocksucking European meeting. Some German minister said, and I am paraphrasing here “ain’t shit gonna get done in this bitch. Germany rocks and France sucks cocks.”
Look, Italian 10 year yields are still below 6%. We are not in crisis mode again. However, there’ s a good chance we sell off here, as bird brained investors book profits.
I will not add to my TZA position here. I will only buy more into market strength, all to do with The PPT‘s new “3 tranche” Overall Hybrid trading program. Members inside The PPT are well aware of the outstanding results. If you haven’t seen them yet and belong to the club, take a look.
I am not going to panic out of my positions. Although I believe we are due to sell off, I am not convinced we are due for a Zerohedged calamity. I will raise cash advantageously and feel comfortable +13% with a 25% cash position.
I am not going to lecture during this post. Instead, I will take a different approach and ask you to think for yourself. The whole concept behind iBankCoin and The PPT is to give you the tools to fish. Once you know how to fish and want to step up your game, go over to 12631 and be fed.
What sectors do you feel are most correlated to the S&P and why?
What currencies weaken during melt ups and what currencies go down during panic?
Why do people invest in US treasuries?
Why is oil expensive and natural gas so cheap?
Wouldn’t cheaper oil benefit the US economy? Would it be better if oil was cheap or would that portend to a slowing economy aka harbinger of doom?
How does gold trade versus the S&P and does silver correlate to gold?
Is gold a safe haven or a hedge against inflation or both?
What is going on with the Yen and how does that affect Japanese trade?
Is coal a highly levered way to play the energy sector? Is solar?
Do food and beverage stocks outperform the market during times of duress?
Finally, from a social standpoint, when is the best time to buy stocks, during euphoria or panic?
Everything that I do is based upon correlations, whether is be seasonality or levered plays in OVERSOLD and OVERBOUGHT cycles. The very essence of The PPT algorithm is to identify these trends and run with it.
This is exactly the sort of rally I was looking for, unrelenting, nonsensical–serving as a “full decapitation” for the bears. This is the sort of squeeze that destroys men. I will have no part of the short side, not until The PPT flags another OB signal. Yesterday’s purchase of TZA was the first of three targeted buys, all to be done in a methodical fashion.
I sold out of my AKS position, upping my cash position to 25%, with no shorts. The only albatross on my books today is LULU. To make matters worse, I have an antagonist inside The PPT who is long puts. I will tear your liver out from your torso and eat it raw. Fucker. My GMXR position is sharply lower too; but it’s a very small position. I will buy that on dips.
I need CVI, GSVC and RBCN to continue higher. Into this maelstrom of European robusto, I hope to liquidate those positions and move over into a heavy cash position, wrapping up my year with honor and belligerence.
You don’t deserve to read iBankCoin. Your behavior is that of a vagrant, a small child with little to no net worth. The number one problem with you little trollops is envy. Don’t hate on Le Fly because he rides in the back of a 1980’s stretch limousine, while you sit next to homeless crack addicts on the train. Need I remind you, iBC is not just a website. When you come here, you enter my domain. Can’t you see how the decor of the site is one of decadence and grandeur?
Take off your shoes before you enter my house. You’ve been stepping on shit all day long and I’d prefer if you didn’t drag in your bacteria onto my Pershing rugs (fuck your Persian rugs. My shit is Pershing).
The internet brings out the worst in people. I can see through your soul by the way you comment on the site. As such, I’ve determined it be my responsibility to have your bullshit computers melted down to the fucking ground, via iBC’s internet laser beam cannon, should you piss me off. No one is safe and I am not playing games.
The art of investing entails a great deal of focus and seriousness. While you clowns are busy eating whipped cream from the can, “The Fly” is allocating millions into money makers. There will come a day, believe you me, when I will just leave this multi-million dollar franchise of iBankCoin, shut down The PPT, and vanish into thin air. I do not intend to slave over my computer for eternity, to be ridiculed by men with small brains dressed in ugly suits.
Until that day comes, I expect you to exhibit the proper decorum when visiting iBC. If you were raised without proper breeding and tend to talk too much at cocktail parties about your bullshit traits and so called accomplishments, you are not welcomed here. I do not like people who talk about themselves at cocktail parties.
European leaders meet on Friday in an effort to solve the debt crisis. Logic would dictate, given the recent market volatility, that Merkel and Sarkozy will come to an agreement and all will be well and good. The problem with that theory: LOGIC DOES NOT EXIST IN THE EUROZONE.
I’ve decided to expedite my selling ahead of the Friday fuckfest. I’m looking at the recent run and feel grateful that my year has been salvaged. It would be, mind you, incredibly irresponsible of me to press my bets near the top end of the trading range. Each and every time we’ve tried to breach these lofty levels, investors sold in great size and ferocity. I want to be a seller at these levels, ideally into strength.
Moreover, in my personal aggressive account, I will begin buying TZA in tranches, all based upon the mathematical precision of The PPT. Just so you know, the Godly folks at iBankCoin are in the process of concluding a study on trading the Overall Hybrid scores. The results will be forthcoming and will be nothing less than staggering.
Bottom line: this market is holding up incredibly well and the economy is doing better. However, I can’t put the fate of my financial destiny in the hands of the fucking perverts who operate inside of the EUROZONE.
