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
18,360 Blog Posts

Bottomless Market

Thanks to crazy people, some of the beaten up financials are bouncing today, led by spikes in [[ABK]], [[RDN]] and [[NCC]].

With the current strength in the financials, “The Fly” will sell them short again, via [[SKF]].

The only real/non-bullshit moves can be found in the refiners, specifically [[TSO]], [[VLO]], [[DK]] and [[ALJ]]. Additionally, wheat prices are at new highs, as inflation infects the economy like retards on a yahoo message board.

Basically, I’m bearish on the markets. There are too many negative headwinds to deal with, mainly thanks to the inaction by the Fed.

Many of you, from the non-luxury of your bullshit pleather chairs, will cite inflation data and use it as an argument to destroy the world. That’s fine. However, I am far more fearful of deflationary forces, which if left alone can leave 2/3rd of you retards without adequate food supplies (“The Fly” likes to exaggerate on Monday afternoons).

In short, I am not selling my [[FXP]] position. I will be buying more SKF, while selling down more of my long positions.

If my time machine is somewhat accurate, the market is going to get its whig pushed back, during the first few weeks of the New Year.

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Embrace the Bear

Asia getting its head sawed off. “The Fly” is officially bearish. Hollywood ‘Shedder is giving away, bullshit/low-end, books.

NOTE: Unlike Howard, I think Kiva is a scam and very gay, similar to those Nigerian email solicitations. I’d rather throw money at homeless American men, than have it go for “good” overseas.

UPDATE: In an effort to compete with “Hollywood ‘Shedder’s” low-end book give away, “The Fly” will dispatch a cool weapon. First retard to accurately predict how many bowls of oatmeal “The Fly” will throw at CNBC tomorrow, wins the below “prize.”

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“The Fly” Closing Out 2007, Space Alien Magician Style

Don’t ever doubt my powers. As you know, “The Fly” is a visionary, who is able to make money in all types of weird, yet fucktarded, tapes.

While it’s true, over the last 3 months, I sort of lost my edge, with regards to making pristine market calls. However, I am back, big time, much to the chagrin of my detractors.

All day, I bulked up on my short positions, via inverse ETF’s. Currently, I have a slight bias to the downside. For the day, I ended up .2%, recovering most of my early session losses.

Within the rumor mill, I hear [[NTRI]] is regaining traction, ready to launch a new ad campaign and menu, early next week. Additionally, I understand BMY‘s dietary drug, Alli, is losing momentum, to the benefit of NTRI. Right now, I own less than 1,000 shares of NTRI, but will consider buying more.

Also, I hear [[FRX]] will clear some of the roadblocks to get FDA approval for Bystolic (beta 1 blocker). which may give a bouncy bounce to shares.

Finally, expect to see massive layoffs at the big brokerage houses. All in all, it appears 2008 is setting up to be one heck of a bowser. Once the job market softens, be sure to get the fuck out of equities and run for sweet Jesus.

Viz.

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Get Flat

If you’re still heavily long stocks, consider taking some off the table or hedging.

Right now, I am down .3%, intra-day, mainly due to [[MVIS]]. As a result of this imbalance, I’ve purchased more inverse ETF’s, in an effort to “get flat.”

In other words, stop trying to make money, instead, focus on the holiday’s. We’ll have plenty of time to bank coin, in 2008.

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Fly Buy: SKF

I bought 2,000 SKF @ $99.20.

UPDATE: I bought 1,000 SKF @ $100.12.

Disclaimer: If you buy SKF because of this post, the South will become “cool.” And, you may lose money.

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Fly Buy: FXP

I bought 1,000 FXP @ $78.50.

UPDATE: I bought 2,000 @ $79.22

Disclaimer: If you buy FXP because of this post, your electricity will get turned off, on Christmas eve. And, you may lose money.

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Inflation is for Asshats

I can tell you, there is no economic downturn at “The Fly’s” household. The tree is draped in gold, and the presents are so abundant; I trip over them, when trying to walk into the den.

After doing some serious, but casual, thinking, I’ve concluded short China will be my #1 pick of 2008, much to the chagrin of my FXI position.

It makes zero sense to expect the Chinese exchange to keep going up, when they are tightening monetary policy and being “homo-hammered” with inflation. When the fucking wheels fall off, “The Fly’s” burgeoning FXP position will make him rich-er.

As for today’s trading:

My prophecies of RIMM “unloading a clip or two” on the bears is coming to fruition, mainly because “The Fly” is much smarter than you.

I don’t like the market here, as it is being run by semi-alcoholic rank amateurs, who try to behave like robots.

With the remainder of my day, I will go for a ride in a long black car, in order to throw firecrackers at the fucktards on Wall Street, exclaiming: “don’t worry pal, they’re only jumpin’ jacks.”

Off to spend some euro’s.

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Microvision’s Latest Stand-Alone Projector

Believe it or not, I got this video link from one of you ‘tards in the comments section. If “The Fly” had decency, he’d say “thanks.”

Anyway, I’ve been trying to get information on what MVIS will show during CES, but its been hard. For some reason, in recent months, the casual chatter that once floated around is gone. Perhaps a sign the company is maturing and means business?

I hope so.

At any rate, all I get (from my sources) is the usual “you’re gonna be happy” reassurances.

Here is a link to some obscure Korean video, featuring a Microvision’s latest stand alone projector.

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