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
20,692 Blog Posts

Go Eat a Sandwich

Chill out, drink a few pints of disgusting beer, while throwing cracker jacks at CNBC.

After a 300 point up day, do not expect the market to do more than mark time.

The old momo plays are back in action, namely VMW, RIMM, AAPL, DECK, amongst others. However, looking at the DOW 30 and most heavily weighted nasdaq stocks, it looks like we may head lower.

Already, the sellers are abundant in ORCL, SYMC, EBAY, SHLD, DIS, MSFT and INTC.

Additionally, the “wheel barrow dollar” is taking another hit, while gold and oil spike.

Within prescious metals, NG, AUY and KGC look good.

Aside from the momo names, the financials are offering good leadership, with big dicked gains in TMA, ABK, C, LEH, ITG, MER, AMG, ACR, CCRT and ETFC.

CFC reversed and is now getting its ass tanned.

Basically, “The Fly” will walk around today, eating sandwiches, drinking Monster’s, while throwing large statues at his trader/servant.

I will probably sit on my hands and do nothing.

Developing…

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30 comments

  1. Juice

    Scramble some eggs, chief.

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  2. DPeezy

    This is the perfect time to buy INTC. Wait for it to find today’s bottom and jump in. They WILL hit $30 before the year is out, with unparalleled leadership in processors. Good news this morning regarding overall microchip sales (up 7.7% in 2008) and about the dumbasses over at AMD (talks of new CEO. Cause I’m sure he can go and design a better processor!).

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  3. Hong Kong Bull

    cmon fellas… we did our bit today, keep it going so I can skin some more bears on the morrow.

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  4. Juice

    we have a lotto weiner !

    CREG

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  5. The Fly

    HK:

    You forget. We have morons trading here, while you have lotto winners over there.

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  6. Juice

    HK Bull … what china stocks (that trade in USA) u rike for long term?

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  7. The Fly

    All of a sudden CROX is on fire, despite Cramer’s sell rec.

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  8. Juice

    Broker: Whats wrong with XFML? Why won’t it go up right away and make me rich, now?

    I want my subscription money back.

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  9. The Fly

    I warned you about XFML yesterday.

    Therefore, you WILL NOT be getting a refund.

    My best guess, momentum morons are spilling out, as other lotto tickets look better.

    I suspect the stock will firm up, late in the day.

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  10. mrkcbill

    I just bought some EMC and HPQ. Lets hook-up the world.

    Now its back to the phones– More Cold Calls hard cold calls.

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  11. Juice

    ok, how about VMI? I just went in there a few moments ago & I’d like to be in the black by EOD. Get on that right away. Please.

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  12. newequity

    XFML is a strong grab n’ hold below $8. I bought more just now at 7.72

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  13. Juice

    I’m with you neweq

    we’re fucked

    developing …

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  14. Harry the Horse

    That cocksuckers MVIS is showing a tiny bit of life. Fucker.

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  15. Hong Kong Bull

    @ Juice: An Aussie living in Hong Kong, giving advice on Chinese stocks traded in the US is kind of bold even for a raging bull like me. But if I was a betting man (which I happen to be) I’d be holding CHL. The chinese insurance monkey’s are a good buy as well.
    I’m not sure what ETF’s you have going over there, but any strength in your peso would drive me to buying some Indian stocks/ETF’s.
    You play Chinese lotto, over here, I play Chinese AND Indian lotto… and I’m loving it!

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  16. The Fly

    Fuck this shit. I’m moving to Hong Kong.

    He’s right on dollar strength=up Indian stocks.

    Should the rupee fall, go long CTSH, INFY and SAY.

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  17. gappingandyapping

    Why is MVIS not acting like a Homo today? I know it is gay but today its dressing up in drag.

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  18. Tony

    Gapping,

    Because of the ROV launch. It proves that the company can actually get a product out, might give investors some confidence.

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  19. kmorph

    Goddamit, dumped CREG yesterday after a 60% gain

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  20. Tony

    Fly,

    Why is my comment “awaiting moderation”?

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  21. gappingandyapping

    Thanks for the info Tony!

    How about a LAZ short here for a hedge. Its about to fall through support.

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  22. TraderCaddy

    SMH has stabilized and INTC is coming back. Follow it and you will see the short term direction of NASDAQ for the day.

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  23. coach137

    Indian ETN to watch is INP. It held up better than most foreign ETFs during this last little pullback.

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  24. Juice

    Broker: What you think of BXC @3.70?

    CEO bot 25k shs @ 3.90

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  25. TraderCaddy

    Coach- I haven’t been watching but has the Pakistan news impacted the Indian market at all? I put INP on my watchlist.

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  26. coach137

    Trader – Out of about 100 ETFs that actually trade enough to bother with, INP was top performer over the past quarter. It doesn’t look like Pakistan is affecting them. Now if the Taliban gets hold of one of their nukes – all bets are off.

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  27. Harry the Horse

    You can’t fuck with prosperity motherfuckers. Too much dickless sideline cash waiting to pounce on a year-end bounce. Fleck and Kass can go fuck each other. I know Kass is now bullish, but still.

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  28. Daniel

    I couldn’t understand some parts of this article Go Eat a Sandwich, but I guess I just need to check some more resources regarding this, because it sounds interesting.

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