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
16,239 Blog Posts

Oracle Can’t Save Today’s Tape

How is it possible for ORCL to be up 10% in the pre-market, yet NASDAQ futures are unch? Have you taken a look at Europe? Down around 0.5%. Gold is up this morning too, which leads me to believe we’re gonna sell off today.

Yesterday, in spite of the strength in healthcare and tech, most stocks traded down — with breadth sub 50%. TLT lifted towards the end of the session and posted gains…again.

I’m gonna go out on a limb here and suggest we’re due for a truly horrible few weeks of trading. Things are getting slow, investors lazy, and the data is milquetoast. Because of the complacency, the market can have a true black swan event. Now, I am hardly positioned to deal with such tragedies — but I’ll get there. My portfolio, as you know, is systematically controlled now. This is part of my plan to automate my investments to the point where I can drink martinis all day, without having to worry about inflows/outflows/whatever the fuck flows. I know exactly what I want in a stock/portfolio, so I set the rules in advance and merely adhere to them.

Thus far, the plan has gone better than I expected, with my trades beating out the SPY in each of the last 6 weeks.

I will be out of pocket most of the day, dealing with end of school year stuff. I’ll probably head on over to an amusement park later on — in order to waste inordinate sums of money and make myself sick from riding death coasters. I’ve never liked rides and do not, in the least, find them to be worthy of waiting on line. Nevertheless, being the sport that I am, I will comply.

It has been a fine market, probably the least drama free in years. But it’s a little boring, making money without consequences. It reminds of that Twilight Zone episode where a criminal dies, goes to hell, and is upset that he keeps winning when he gambled or never got caught when robbing banks. The fun was sapped out of his crime sprees, since there weren’t any consequences. Now I am not suggesting our little business is the equivalent to robbing banks. Us Wall Streeters are upstanding individuals, who love the environment and rarely, if ever, use fouled language. To that end, this is getting a bit redundant. I want fire, brimstone, blood flowing throughout the streets of Wall.

Have a productive day.

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BLUMENTHAL THEORIZES: CONSPIRACY CHARGES POSSIBLE FOR TRUMP WHITE HOUSE

Back in 1997, Harold J. Nicholson, a former employee for the CIA, was sentenced to 23 years in jail for conspiring with the Russian government. Tonight on Hardball, Sen. Blumenthal went off the deep end of his own conspiratorial bend — proclaiming that both Flynn, Kushner and others in the Trump White House could succumb to conspiracy charges.

When discussing the matter of Flynn, the host, Chris Mathews, asked the Senator if he should be given immunity, so that he could spill the beans on the President — inferring that Trump had something to hide that Flynn knew about. Both Blumenthal and Mathews then started to theorize, incredulously as if disconnected from the real world, a grande Russian scheme had taken place — all at the behest of Trump, that could land Flynn 15 years in prison.

Mathews then staggered on, praising the press for providing the public with leaks, revealing what he deemed to be ‘Russian shenanigans’, saying ‘the press should be commended’.

‘All these Russian things going, all the time, and the only reason why we know about them is the press.’

Hmm, I wonder why democrats keep losing elections.

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Report: Sycamore Partners to Acquire $SPLS for Upwards of $6 Billion

Reuters is reporting Sycamore Partners beat out Cerebus to possibly acquire Staples, the retailer of pens, pencils and pleather chairs — for around $6b — which is close to the last price quoted at the end of trading yesterday.

Financing for the deal is being finalized as we speak, which should lead to an official announcement something next week.

For the life of me, I have no idea why details of deals like this get leaked.

If the deal goes through, Sycamore will retool the company to cater to the enterprise market, in favor of back to school retards.

Sales for the beleaguered retailer have been in the shitter for some time now. I am sure the C level execs at Staples would prefer to end this nightmare now, with a deal, instead of dragging it out any longer than necessary.

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AND OIL FLUSHES OUT AGAIN — NOW SPORTING A FASHIONABLE 42 HANDLE

Oil is finished. You’ll be visiting it at the graveyard, not before long.


WTI down ~3% for the session

Oil and gas stocks are now down 5% for the day.

Notable: High yield bonds are starting to get hit. This is common-fucking-sense. You idiots should die in fires for buying JNK and HYG up here. With oil getting mashed, expect credits to get hit next.

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Serious Question: Will Oil Stocks Ever Bottom?

Why isn’t anyone talking about this? Oil stocks are getting murdered this year — yet all the media seems to talk about are the gains in NVDA. There are serious consequences to the stock price declines in a sector beset with so much debt. How much debt?

Hundreds of billions.

Year to date, the oil drillers are doing even worse than the retail stocks — off by 40%.

Big cap stocks like CLR, CVE and AR are down 30-50%. There are at least a dozen stocks down more than 50%, as oil drops on a daily basis — now sporting a $43 handle.

Here you can see the losses of the drillers vs the SPY, scaling out over 5 years.

Tech stocks now represent 25% of the overall market value. It’s very tempting to think ‘buy oils, sell tech’. But I can’t think of a catalyst at the present time that would cause a major rotation out of cash rich tech into poor oils.

Seasonally speaking, we’re heading into the worst months of the years for oil — so maybe take a shot at them during the end of summer.

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Drugs and Tech Lead the Nasdaq Higher

Breadth is a tepid 58% and many stocks are sucking wind today. But the big standouts are the drug stocks. It was the only sector that had notable buying interest and it’s following through today.

From my momentum screen in Exodus, the following healthcare names are under buying pressure.

REGN, PACB, TTPH, PTLA, ZIOP, INCY, BIIB, CELG and GILD.

Tech gains are highlighted by CA, ADBE, CSIQ, MOMO, SYNA, VIP and Z.

Both AKS and X are bouncing today too — but those stocks have been ripped to shreds and do not have credibility.

Botton line: Mostly all of yesterday’s losses have been washed away. Maybe Trump trades will start moving again, as noted by today’s move in X. That’s a hard trade to get behind now, however, since none of his plans are being passed by Congress. Healthcare, especially highly profitable drug companies like GILD, CELG and BIIB, have strong fundamentals and could definitely go on a run here.

In the case of GILD, the stock is down 19% over the past year — due to pricing pressures for their drugs. Plus, the made the cardinal sin of curing hep c. They should’ve just made a treatment, in order to keep their customers for longer periods of time. By curing hep c, they’ve relegated themselves at the mercy of attrition and will need to expand into other areas of health. Nevertheless, the stock is cheap.

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The Ossoff Aftermath: Teaching Dems How to Fail, or Was It Just the Bad Weather?

Frankly, I don’t understand how the democrats ever thought they were gonna win in Georgia. Sure, Trump only won that district by 2 points. However, and this is what the dems don’t seem to understand, you’re pissing off all of the republicans with this very obvious ginned up Russian conspiracy — trying to unseat a democratically elected President. I mean, you’re not even waiting a year or two before trying to remove him. You’ve got the investigations going, the former FBI director out to get him, and a special counsel hiring Clinton attorneys. What did you think would happen in Georgia, especially in light of all of the Californian money pouring into the Ossoff campaign, with high profile celebrities shilling for his victory?

Rule number 1: never use celebrities to get out the vote. While it might help young morons vote for your candidate, the larger voting block, who are more mature, view celebrities as social outcasts — pigeon holed for entertainment — not to be taken seriously.

So, in spite of Ossoff spending 7x the amount of money than Handel, in the most expensive congressional race ever — lauded and praised by the media as a referendum against Trump — polling way ahead in FAKE POLLS, he still took the L.

CNN’s Cuomo tried to console viewers, teaching them how to fail. You’ve got to be fucking kidding me.

“They teach you in campaign school … that you’ve gotta learn from failure, otherwise you’re doomed to repeated it,” Cuomo said.

“And there’s an acronym for ‘fail’: the Future Always Involves Learning. And that’s going to be the test … for Democrats, right?” he asked.

Rachel Maddow blamed the weather.

The Morning Shill so wanted Ossoff to win, in order to teach Trump a lesson. Alas, he says this is a ‘wake up call for the dems.’ Joe still thinks the dems will take the house in 2018.

I think it’s fair to say the DNC agenda to ‘resist’ Trump didn’t work, says Bill Bennett.

Alan Dershowitz said trying to make a criminal out of the President backfired.

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Amazing Footage of Russian SU-27 Warning Off NATO F-16 Who Was Shadowing Plane Carrying Russia’s Defense Minister

It’s all fun and games until your planes get shot out of the sky. Following an earlier incident when a Russian fighter came within 5 feet of a US spy plan — a NATO F-16 had to be warned off by a Russian SU-27 for inappropriately shadowing a plane carrying Russia’s Defense Minister, Sergey Shoigu.

The incident occurred over neutral waters in the Baltic, en route of Kaliningrad.

This video was captured by a Russian journalist aboard the plane. This is a pretty amazing clip.

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Susan Rice Unmasking Documents to Be ‘Locked Up’ in Obama Library for Next 5 Years

Get in here deep staters and explain yourselves.

Do you remember when Rep. Nunes found out some information about the unmasking of key Trump personnel during and after the elections, which tossed former National Security Advisor, Susan Rice, on the barbie?

It was believed that Rice had some vital information that could shed some light on who Obama was spying on and why. The fact that Trump was, in fact, unmasked raised questions as to the veracity of the ‘incidental’ intelligence claims. Well, if you were hoping for Susan Rice to pay for her sins, exposing Obama to potential criminal charges for spying on Trump — too bad fuckers — that’s not going to happen.

See, the information is now locked up in the Obamas library and will not be released for another 5 years. Why is this the case? No one really knows, other than the fact that it’s in there and it is impossible to get out.

Judicial Watch is going apeshit over this.

“Documents from the Obama administration have been transferred to the Barack Obama Presidential Library. You may send your request to the Obama Library,” Powers wrote. “However, you should be aware that under the Presidential Records Act, presidential records remain closed to the public for five years after an administration has left office.”

Judicial Watch’s FOIA request sought to obtain documents related to Rice’s communications with intelligence officials on a range of issues, including any efforts by the Russian government to influence the 2016 presidential election and the hacking of Democratic National Committee and Clinton campaign computer systems.

“Judicial Watch has filed six FOIA lawsuits related to the surveillance, unmasking, and illegal leaking targeting President Trump and his associates,” the watchdog group said.

Judicial Watch president Tom Fitton said he is considering other legal options to obtain the records.

“Prosecutors, Congress, and the public will want to know when the National Security Council shipped off the records about potential intelligence abuses by Susan Rice and others in the Obama White House to the memory hole of the Obama Presidential Library,” Fitton said.

“We are considering our legal options but we hope that the Special Counsel and Congress also consider their options and get these records,” he added.

HAHAHAHAHAHAHAHAHA (pause) HAHAHAHAHAHAHHAAH (takes breath) HAHAHAAHAHAHAHHAAH

American democracy.

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Mika Brzezinski: There Are ‘Literally’ No Real Men in the White House Who Can Stop Trump

Ever since the election season began, the left has been going ‘literally’ apeshit over Trump’s usage of Twitter. In recent month’s they’ve been autistically screeching over it — demanding that Jack Dorsey, CEO of Twitter, ban him. They’ve trotted out GOP deep state shills, neocons, professors, think tankfags — all trying to dissuade the President from using a platform that communicates directly to the people.

The main stream media, feeling threatened by the President cutting them out from the middle man position, have been pursuing a scorched earth strategy — attempting to remove him from the White House, while also reminding him that ‘voters’ hate his fucking twitter account.

Today, Mika Brzezinski called out the men inside the White House for failing to stop the President from using his Twitter account.

Main stream media has been constant with their opeds, some even trying to accuse the President’s use of the social media platform as ‘unconstitutional.’ Here are just as handle of titles by those livid with the President.

If Trump is such a dunce for tweeting and is hurting himself politically, why the fuck do the leftards care? If anything, they should be elated by it — since it only serves to hurt him, as they so readily like to say. Another theory is they’re control freaks who chimp out at the idea that Trump crushed Hillary Clinton, whilst spending 1/3rd of her campaign budget on traditional media, catching waves and having fun —  memeing all day like a boss on Twitter — shitposting his way into the oval office.

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