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

This Rally is Made From Play Doh

MBI is entirely screwed.

This is a nice rally, but I get the sense the credit crisis is about to accelerate.

Right now, MBI, ABK and ETFC appear to be racing to zero, albeit ETFC is in the lead; but MBI is catching up fast.

If you happen to be long any financial stock, it might be a good idea to swap it for tech or ag.

As you know, “The Fly” placed a large bet on VMI. Thus far, it’s working, up almost 4 bucks.

MVIS has to work here. The whole “MVIS to the moon dream” of mine cannot end with a whimper. Once again, my “sources” tell me they (MVIS) will “blow the fucking doors off of CES.”

As always, we’ll see.

Finally, with any available funds, I intend to buy MVIS, VMI, HANS, FMCN and CLX.

In short, this rally is very suspect. Don’t get suckered into semi’s or financials, yet.

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19 comments

  1. Frosty

    FLY…thanks for the VMI…someone took a big dump just before your post…make sure you man servant wipes.

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  2. alphadawgg

    Finally, a word. Silent period over. Check out how many comments get tallyed when you’re out at Dunkin Donut testing a fancy pumpkin latte.

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  3. Dinosaur Trader

    Frosty,

    That was me dumping 2/3 of my position.

    -DT

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  4. alphadawgg

    “MVIS has to work here. The whole “MVIS to the moon dream” of mine cannot end with a whimper.”

    You’re not going “Boomer” on us now, are you?

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  5. gappingandyapping

    Broker what would you short first for protection? I sold out of my LEH puts which were a hedge on the financial positions I had. CFC a short here?

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  6. Frosty

    Dino…fine trade…FLY done good…just don’t want the turds to get hurt…I have a soft spot for turds.

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  7. Dinosaur Trader

    Frosty,

    Thanks. Of course, believe it or not, I was also long MBI today when it cratered, so, the two more or less cancelled out.

    -DT

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  8. WhoMe?

    I’ve been doing this crap for 15 years, and this is the hardest market, by far, to know how to be positioned during that time.

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  9. TraderCaddy

    Market on hold here. I am going to get myself a tangerine off one of the trees for lunch. A good crop this year.

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  10. The Fly

    I’ve been doing this shit for 25 years.

    You’re nothing but a rank amateur rookie.

    NOTE: “The Fly” was lying at the time of this post.

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  11. Employee8

    Fly,

    Thanks for the VMI …. got in around 80 … staying with you in VMI and MVIS!

    #8

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  12. Mr. LIMM

    Cultural Break at the Peanut Gallery.

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  13. TraderCaddy

    I find that the best way to be positioned for a market like this is on my hands and knees praying.

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  14. Steve

    You get that sense because you have let the beartards get to you. Stop being a pussy, fly. This market is still a bull.

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  15. Frosty

    I realize there is a couple hours to home, but where the hell is the volume…shorts that were sucked in have covered and the dippers fed that tape…still no change in behaivor, buy the dip sell the rip…if anyone tells you different they just want to take you coin.

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  16. PleaseKillMe

    I don’t know Fly. Thrift banking looks good right now. A lot of low PE banks look like they bottomed. I believe their prices have already discounted fallout perceptions.

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  17. Steve

    Volume is light yes but that tells me that sellers are losing their steam.

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  18. Woodshedder

    Steve, if nothing else, short sellers are patient. I have outlined where the bears go to make money (The honey hole). Note what happens when the price gets even near the good hole.

    Volume is light because most understand that a W or even a V bottom will be unlikely.

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  19. mrkcbill

    The good hole. Great name for a blog.

    Juice good call on MBI.

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