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
20,626 Blog Posts

Quick Alert: Drinking “Tons of Coffee”

Sometimes, upon over caffeinating himself, “The Fly” makes overzealous financial decisions.

Thus far, I’ve sold a little VMW, which I bought 10 bucks lower. Also, I have initiated a TIF short position—into earnings.

Normally, I would never bet against “the rich man.” However, I feel like doing it now.

Looking at retail, it is a mess. Today, MW, BONT, ARO, SHLD, CTRN, PERY, PVH, amongst others, are receiving the “homo hammer of death.”

My point: although it’s fun to say ignorant things, like “fuck you, you’re dead,” or “kill the bears”— be careful.

While enjoying the relief rally, do not forget the pain of last week.

In short, it makes sense to build a 10% cash position, with another 10% in short positions, just in case.

Viz.

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12 comments

  1. Frosty

    FLY..sage advice, you must be sober.

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  2. Dinosaur Trader

    Holy shit… what’s with that lame Georgia commercial. Who writes these things?

    Also that goddamn Fortunoff commercial. They’ll play that 50 times a day until Christmas.

    -DT

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  3. kidstock

    You still going to the gym or are you going for the “fat bastard” look at Christmas. I am guessing that since you’re a bit over caffeinated that you haven’t been making regular visits or you would have sufficient energy to make it thru the trading day…

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  4. The Fly

    Fuck the gym.

    Fly doesn’t gain weight.

    He naturally “gains muscles.”

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  5. haileris

    lol this is what my interactivebrokers trading screen looks like:
    http://i237.photobucket.com/albums/ff268/haileris0/fly.jpg

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  6. Woodshedder

    Haileris- that rocks. Thanks.

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  7. Juice

    I agree with Mr Frosty – a rather sober post for an overcaffienated Fly … its more like Broker A

    but I agree even though I think we have one more move higher after digesting yesterdays gains

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  8. Employee8

    For Fly and Green Writer:

    Take a look at AMSC …. a green comany that’s a tie in to VMI with their superconducting power transmission wire and wind turbine products ….. acting very well today …. maybe Woody can give us the technicals …. MIT driven!

    http://www.amsc.com/

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  9. anon

    Interesting.

    http://thehousingbubbleblog.com/?p=3797

    I think we should expect more pain in the credit areas throughout next year.

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  10. Juice

    anyone know why FXI is down 1.2% while FXP is up only 0.9% ?

    Shouldn’t FXP be up double FXI ?

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  11. Woodshedder

    Juice, likely because FXP is new and hasn’t got all the kinks worked out yet.

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  12. ottnott

    Because both FXI and FXP are publically traded, so the prices are not mechanically linked.

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