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
19,909 Blog Posts

Deadbeat America

So, thanks to a plethora of overzealous bankers, coupled with credit card dependent dreamers, we get a bear market.

Am I missing something?

As a result of the criminal lending that took place, RIMM, AAPL, VMW and the entire fucking DOW is going down the empty elevator shaft.

Some of my ‘smart friends,’ who are bearish, point to the huge miss at JCP. I replied: “who the fuck shops there anyway.” I guess the same fucktards who bought a $750,000 house, with an annual income of $75,000, who is about to get foreclosed on.

Looking at the financials today, I feel like throwing it all on the kitchen floor, then burning the house down.

Big losses are abundant in NFI, DSL, FED, CORS, CCRT, LAZ, MS, etc.

Across the board, there is carnage amongst momentum stocks, like VMW, EJ, POT, CF, RIMM, DRYS, TNH, etc.

In short, I find it increasingly dificult to fight this tape. As you well know, ignorantly placing long trades, over the last 4 years, has led to “big dicked” gains.

However, the longer this shitbox of a tape continues to melt its most fervent longs, the greater chance it will continue to slide.

I bought a little stock today, but nothing meaningful. Should this trend continue, I suspect “The Fly” will turn foamed mouth bearish, looking for the next CWTR to shit the bed.

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46 comments

  1. Juice

    Where’s your belief in Santa?

    yee of no faith

    repent !

    and yee shall be rewarded

    with higher asshat stock prices

    viz

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  2. fucktard bear

    Bullshitters getting nervous…

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  3. Jake Gint

    Stop bloviating and get out of RIMM before you have to send your kids to Queens Community College*.

    ________________

    * Jerry Seinfeldt’s alma mater!

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  4. Bison Burger

    [edit] Notable alumni
    Kevan Abrahams – Nassau County Legislator (D) Nassau County 1st Legislative District
    Gary Ackerman – United States Representative (D) New York’s 5th congressional district
    David A. Adler – author
    Barbara Bach – actress, wife of former Beatle Ringo Starr
    Joy Behar – comedienne and co-host of The View
    Joel Benenson – Democratic pollster, American political consultant
    Lawrence Cohen – President and CEO of The Merv Griffin Group of Companies
    Jerry Colonna – Well-known venture capitalist and entrepreneur coach
    Joseph Crowley – United States Representative, New York’s 7th congressional district, Queens County Democratic Chairman
    Fran Drescher – actress, The Nanny
    Dennis Elsas – Radio personality: WNEW-FM, WFUV-FM
    Jon Favreau – actor and director (attended 1984-1987, 1988 – dropped out a few credits shy of completing his degree)
    Hon. Marvin E. Frankel – litigator, judge, legal scholar, and human rights activist.
    Nathan Gilkarov – economist, philosopher
    Andrew Goodman – civil rights worker, murdered in Mississippi at the age of 20 during Freedom Summer of 1964, while still a student
    Daniel Goodman – CEO of Goodman Strategies
    Marvin Hamlisch – Hollywood and Broadway composer
    Alan Hevesi – former New York State Comptroller, former New York State Assemblyman, former Queens College professor
    Dov Hikind – New York State Assemblyman
    Ron Jeremy – prolific pornographic film actor
    Carole King – songwriter and recording artist
    Richard Kline – “Larry Dallas” in Three’s Company (attended, but did not graduate)
    Rory Lancman – New York state Assemblyman
    Nathan Leventhal – Former President of Lincoln Center
    Allan Loren – Former Chairman & CEO, Dun & Bradstreet Corporation
    Helen Marshall – Queens Borough President
    Nellie Y. McKay – scholar and co-editor of Norton Anthology of African-American Literature
    Stanley Milgram – psychologist
    Hiram Monserate – New York City Councilmember
    Robert Moog – inventor of the Moog synthesizer
    Mary Murphy – Emmy Award-winning TV anchor
    Donna Orender – WNBA president
    Jose R. Peralta – New York State Assemblyman
    Dorothy Rabinowitz – awarded 2001 Pulitzer Prize for Commentary
    Norm Roberts – head coach of St. John’s University men’s basketball team, as well as a former coach and star player at Queens College
    Ray Romano – actor, comedian (attended 1975-1978 – dropped out after accumulating only 15 credits in three years)
    Howie Rose – sportscaster for the New York Mets and New York Islanders.[1]
    Michael Savage (formerly known as Michael Weiner) – radio talk show personality and author
    Nancy Savoca – screenwriter, film director and producer
    Leonard Schutzman – Chief Financial Officer, PepsiCo
    Lloyd Schwartz – Pulitzer Prize winner in Journalism
    Jerry Seinfeld – comedian
    Paul Simon – musician, Simon and Garfunkel
    Arnold Skemer – novelist and publisher
    Phil Demise Smith – poet, founder of the N. Dodo Band, founder of the Queens College Whereas literary and art magazine
    Elliot Stabler – actor, fictional detective featured on NBC crime drama Law & Order: SVU
    Toby Ann Stavisky – New York state Senator
    Charles Wang – founder of Computer Associates, owner of the New York Islanders
    Aaron D. Wyner (1939-1997), information theorist noted for his contributions in coding theory[2]

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  5. The Fly

    long rimm from 18.

    Fuck off.

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  6. Juice

    Institutions panicing & selling porfolios before their bonuses jump from 50 floors up.

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  7. Jake Gint

    Jake Short:

    STP

    AKAM

    QQQQ

    JPM

    _____________

    Warning: If you short the above stocks you may find a foul-mouthed displaced Romanian-Brooklynese shepherd herding his goats, squatter-style, on your front lawn.

    And you may lose money.

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  8. Jake Gint

    That’s funny, you just bought it at $102. Are you trying to increase your basis?

    Fucker.

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  9. rockain'tdeadyet

    Note to asshats: You are for stocks.

    The Santa Claus rally is still in effect. This is how turnarounds are built -strong volume at the bid leading to lower price levels, a light rally indicating that there is some value at these levels, and then finally another shot at the bid, this time leading to less of a price decline. Read a fucking book.
    Plus, until the blasphemy to good taste that is “Fred Claus” is off the box office lists, why would Santa give us anything but coal?
    We will rally again. The volatility is a fucker, no question -so instead of whining about the sand in your vagina, buy bull spreads.

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  10. Jake Gint

    Gasp for air on the beach, Suntech, you bloated norwhale!

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  11. Bison Burger

    I may consider going long again when the Dow hits 11000.

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  12. The Fly

    I don’t watch it tick by tick.

    My time horizon is more than 6 hours, cow fucker.

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  13. Juice

    there goes turnaround tuesdays rally … next stoppage, august lows

    viz

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  14. Bison Burger

    See ’em asshats die?

    YEAH, FLUSH THE JOHNS.

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  15. coach137

    rock – You are assuming that this decline will make a higher low. That might be a bit premature. Plus where is the panic. So far this selling is too orderly. The real low will come when all the MBA types with their stupid quant models that cannot account for real human emotion get blown out again like in August.

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  16. Juice

    armeggedon alert

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  17. Bison Burger

    Armageddon Sauce

    http://www.youtube.com/watch?v=v06nSuWEjx0

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  18. gappingandyapping

    Hey Broker — This is what is about to happen soon: http://www.youtube.com/watch?v=h_iYb4g59uE

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  19. Jake Gint

    Just make sure your goats don’t eat my azaelea’s, Tick by tick fucker.

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  20. Bison Burger

    So Long Ooziness

    http://youtube.com/watch?v=OlU8cV0hiBI

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  21. Jake Gint

    Wood, neither of those links worked.

    May I call you “Webmaster.”

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  22. Woodshedder

    Bullshit, they work fine for me.

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  23. Jake Gint

    Look at that waterfall on the fat fuck Chinese bullshit stock STP.

    That’s a beautiful thing.

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  24. Jake Gint

    Wood, just embed the link fucker… the thing is too long and the last numbers don’t get included in, hence you have to cut and paste.

    Which is a drag, oh Webmaster.

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  25. Woodshedder

    Jake, I have no webby web skills.

    Boy you look cool hanging out.

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  26. PoorOkie

    I thing The Fly should seriously reconsider using the image of the bull at the top of these column pages. If my memory serves me, we had significant problems when images of bulls were posted earlier this year. Perhaps the “Golden Bear” would change our luck.

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  27. rockain'tdeadyet

    Coach: I agree with you. However, as a trader, I am pointing out that this sharp of a downside move is a an inefficiency, and creates a favorable risk/reward to the upside. Furthermore, a strategy such as a bull spread allows one to compensate for the volatility via attractively priced downside protection.
    I’m calling a tradeable bounce, not a market bottom.

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  28. rockain'tdeadyet

    On a side note, nice volume on this uptick, don’t you think?

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  29. yeomps

    DRYS is on sale now… trading at 5 x Forward earnings!!! I’m am going to double my position tomorrow before close. Lets watch it skyrocket after OE.

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  30. DPeezy

    In times like these, every news is bad news. We, as a nation, strive on bad news and extremes, calling everything a crisis or a catastrophe or a climax or an emergency.

    CSCO, XFML, SBUX all report good sales & earnings, drop one little hint of something negative and they all take a nosedive.

    Oil prices rising = bad bad bad. Today, oil prices decrease, so now that’s a sign of a bad economy & consumption.

    Weakening dollar/rising gold = bad. Strengthening dollar/dropping gold today, well that’s obviously bad because I mean it’s, like, gold…and it’s dropping, so who the fuck cares about the dollar now.

    JC Penney sales hurt? Obviously all of middle America went to shop at Wal-Mart instead.

    I nominate the Wells Fargo guy for Asshat of the week.

    Remember, when you’re in a pit, the first thing you need to is to stop digging.

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  31. Woodshedder

    Dpeezy, no disprespect, but being “in a pit” is all relative.

    Most are just realizing what is going on. If everyone realizes within a few days of each other, there will be no pit…it will be a chasm. Just be careful, that’s all.

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  32. Oil Well

    Hey!…Thanks for the nice read, keep up the interesting posts..what a nice Friday

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  33. corey

    I just love reading your blog

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