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
23,433 Blog Posts

Is Today “The Day?”

As I type this post, Mrs. Fly pesters me to “hurry up” and “get going,” as if I was a circus act readying to get in the clown mobile en route to our next destination. Nevertheless, I remain stoic and steadfast in my pursuits to ignore said requests and post “gems of gold” on the internets instead. By the way, I just said “leave me be, for I am posting gems of gold on the internets,” in my latest rebuttal to “get going.” Needless to say, she was not impressed.

At any rate, today feels like “the day,” where we rip tits off the bears and call them our own. I see strength in all of the fashionable names. And, TLT is down a smidge to boot. My only concern is the Japanese Yen. For some dick-ass reason, that fucker will not trade lower. However, let it be noted, it shall succumb to the pressures of bullish robots, one way or another.

At the present, my largest position is FLS. I am hanging my hat on that son of a bitch and demand my millions. Second to that, if I was a perverted clown, I’d circle jerk to CLF. However, I am not of the perverted variety and I do not jerk to anything. But, the stock is ghetto projects cheap. Do yourselves a favor, go ahead and check it out.

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Everyone Raped

I went to sleep last night expecting to lose 1-2% today. I woke up to “green as fuck” futures, only to see the market melt away like a chocolate bar in a prison yard. Lo and behold, I get back from the beach, spending the day tossing my kids into the water, and we are rallying hard into le bell. Either way I try to slice it, today was a fucked up day to be long, seeing big reversals to the downside in CLF, SHLD and a variety of momentum stocks.

Tech stocks, as well as small cap, best represented by TNA, are being pummeled. Basically, investors are still nervous about the state of the U.S. economy. Take a look at TLT and FXY for evidence of “de-risking.”

Until we see rates go up and spreads widening again, the markets will continue to remain under pressure. Today has all of the ingredients of a uber “fuck you, you’re dead” rally to the upside. However, once again, it failed due to investor pussification. If forced to guess, I’d say we’re still going higher, despite today’s reversal. I know it makes little sense to stick with a market unable to hold gains for just one day. But this bottoming process shit is a process, not an event. After all, if the market reverses and trades up, monster gains will be had, as opposed to near term limited downside, in my estimation.

Today’s purchases of EWZ, SHLD, DE and CIEN were ill advised. I got caught up in the moment and now suffer the consequences. However, it was a reasonable bet. Nevertheless, I still hold about 45% cash and will leave it intact, until I get settled into my next destination, further up north.

NOTE: I will be traveling most of the day tomorrow.

[youtube:http://www.youtube.com/watch?v=zK1mLIeXwsQ 616 500]

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Fly Buys: EWZ, CIEN, DE, SHLD

I bought boatloads of EWZ and DE, while adding to an existing CIEN position.

UPDATE: I doubled down on my SHLD position, in the $63’s.

Disclaimer: Follow me and fall victim to a killer whale attack the next time you go “whale watching.”

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Reversal and Lift Off

I will refrain from bragging until the markets close with glorious gains. However, things are looking much better than mid-last night. The Chinese markets reversed and all sorts of good news was injected into the human subconscious. As a result, Europe is ripping tits and the United Steaks is about to go “nu-ku-lar” to the upside.

According to the laws, based upon the supreme mathematical tabulations of The PPT, the following stocks are in “buy now” range:

JAH, ALN, CNH, WGOV, CRS and RL, just to name a few.

Just so you know, I am referencing a new tool of The PPT, where the user is able to search “days since” a certain stock has been tagged OVERSOLD. With that data, I cross referenced the system for stocks that have flawless track records, bouncing off previous OVERSOLD levels. In this case, I am showcasing a handful of stocks that have 100% success rates, over a 5 day time frame, that received an OVERSOLD signal 3 or more days ago. In others words: buy now.

As an aside, I’m going whale watching now.

Top picks: TNA, FLS, CLF

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Keep Your Eye on the Rape

A lot of faggots out there take issue with using the word “rape,” as if using it in the context of a MASSIVE FINANCIAL MELTDOWN has anything to do with perverts gone wild with mental disorders. Just like when I use the word “faggot,” I am really referring to an ancient African bird, indigenous to “pussified” jungles and shit, devoid of “big dicked” carnivores.

Just in case you were wondering, “The Fly” is not on some lazy ass vacation, where he galavants around some metrosexual resort, eating piss clams, sipping on bitch drinks (when I say “bitch,” what I am really referring to is the long necked mammal out of mongolia with a big scrotum). No, “The Fly” is on a fucking journey, son. He has gone ballistic on the North East corridor of the United States on a mission of glory. I have no idea when I am going home. In short, I will go home when the Earth demands that I leave this area of the world.

I see futures are getting “raped” in a very “faggotty” way, which makes me pertubed due to my lack of proper hedging. Nevertheless, my cash position is dominant and I will have access to my trading turret, beachside, “bitches.”

More on this later.

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Holiday Thoughts

Since U.S. markets are closed today, the rest of the world is useless, unable to establish a clear/concise direction. However, a certain coal deal in Australia raised a certain eyebrow of mine, due to its extravagant nature. Let me remind you: coal is the devil. Therefore, when someone takes an interest in coal, “The Fly” grabs his fucking crucifix and tries to figure out where the devil is located. From my vantage point, the devil, most assuredly, is in India or China.

In my opinion, news and rumors of news, elaborating about the sudden and perpetual decline of western civilization is gravely misdirected. While it’s true, the economy seems to be faltering a bit here. It’s also true, the Government jackasses are invested in continuing the ponzi scheme, just a little while longer. In other words, the dicier the markets get, the friskier Ben Bernanke becomes.

As I make my way up the northeast, “The Fly” is reminded of a quote, spoken by a great man: “it’s gonna be one fuck of a hot summer.”

Indeud.

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Go Eat a Burrito

Bunch of losers, most of you are.

[youtube:http://www.youtube.com/watch?v=-7Y1ougODMo 616 500] [youtube:http://www.youtube.com/watch?v=nrvpZxMfKaU&feature=related 616 500]

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Happy 4th!

I am not one to get all sappy about the 4th of July. Everyone goes through hard times and there have been many generations of Americans who fought for the liberties we are afforded today. Despite the multitude of corrupt politicians and special interest groups attempts to destroy this country, there is still much to celebrate.

On this 4th aka “white trash party day”, be grateful that you are not a “member” of a FOXCONN prison factory, in Shenzen, China, building iPads for fat fuckers in Illinois.

Do not lose faith in America, for we have the best military in the world, capable of seizing the natural resources of others (if needed), in order to make it our own (if needed, of course).

[youtube:http://www.youtube.com/watch?v=k4ezFz69Fao&feature=related 616 500]

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Attention Bears: Take Profits

The Dow is down 7 consecutive days, the most since the debacle of 2008. We’re going into 4th of July weekend, when Americans are “patriotic as fuck,” throwing small hand grenades at one another and making pretty explosions in the sky. What you need to acknowledge, as a bear, is that you have a mental illness. Don’t get defensive on me son; hear me out.

You want America to fail, and the world. You are a malcontent, likely the result from being beaten as a child. I mean, come on, you know damn well Jim Chanos had the liver beaten out of him in the school yard when he was a young lad.

My point is this: go have a white trash party, with hot dogs and budweiser cans. This market is just about done going down.

Go ahead and bet against me. See where it gets you.

NOTE:
I bought a truckload of CLF, added to FLS and CIEN and nibbled one some TNA. My cash position is still north of 50%. But it’s a process, fucknutter.

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