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
23,426 Blog Posts

Sorry, Christmas Has Been Cancelled

This was not a rally, but charity. How can I put money to work, while my double inverse Financial etf [[SKF]] was down a mere .34%?

With all the good news today (ECB, Goldman earnings), the market mailed it in, up less than .5%.

With my money, I’d rather bet against the fucktards at [[MS]] and [[MER]], than go long the indices.

Now, there is a chance for a rally, providing we get some decent numbers out of MS and MER. However, it is my belief, any rally should be sold twice, especially going into the first two weeks of 2008.

Basically, my long term bullish stance has been stifled by recent Fed inaction and persistent credit issues. Just doing some quick back of the envelope analysis, without robust financial earnings, the market is wildly overvalued.

Granted, betting against the market, long term, is always a crackhead thing to do. Nonetheless, near term, I suspect to see fund managers sell out positions, early January. I want to avoid that risk, via hedging myself with inverse ETF’s.

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33 comments

  1. Woodshedder

    Any bounce should be sold at the Honey Hole.

    I will again update the reader when the Honey Hole is broached.

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  2. mdawsz

    It’s been far too long since we heard from the honey hole.

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  3. SaNTa

    I’m bankrupt. There will be no Christmas this year unless I receive enough donations through Kava.org.

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  4. Frosty

    FLY…sage indeed…we do bounce them and it starts with the fins…the time machine is begining to function once again…nice.

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  5. Green Writer

    Santa is getting loaded…he said “screw your rally son… See where a 1/2 a trllion $’s gets you first.”

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  6. JakeGint

    Fly on his Peanuts:

    Let me have men about me that are fat;

    Sleek-headed men and such as sleep o’ nights;

    Yond’ Cassius has a lean and hungry look;

    He thinks too much: such men are dangerous.

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  7. akoy's evil twin

    Fly you shithead. You must seriously have a personality complex. Make up your mind and stick with it..”market overly valued”..my ass.

    And if all the shitheads haven’t already caught on..the Fly uses this retard of a blog to advertise to you bagholders of his exit positions…ARWR, MVIS, XFML, etc. The list is embarrassing and the Knat (yes he’s been demoted)knows this scam and laughing his ass of.

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  8. JakeGint

    Gnat’s spelled with a “g” asshat.

    I don’t know who’s the bigger joke, this guy or “Frosty, the Knowman.”

    Prolly the same dope.

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  9. akoy's evil twin

    Jake…no shit. I meant that out of the little respect for Fly.
    By the way jake, what the fuck is a Gint? Perhaps jakelimp?

    Stupid fuck.
    by the way, you can stop kissing broker’s ass now.

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  10. The Fly

    Akoy:

    Your Mother is cow blower.

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  11. Sir Douchebag

    “the market is wildly overvalued”

    C’mon, GOOG? AMZN? AAPL?

    Have a little faith. You think these guys are going to screw up their bonuses?

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  12. Juice

    Who is this this Fly, that is rooting for and betting on, the destruction of America, as we knew it?

    Don’t let the Dope on the Slope know you have joined him in darkness & destruction.

    Evil, evil, evil Fly.
    Thats a Triple Evil FLy.

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  13. Frosty

    FLY baby bears little feet feeling the fire today…nasty little beasts…cub sandwhichs upon we soon shall dine.

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  14. CashIsKing

    Fly, you sound a lot more confident than that scared-shitless, defensive, ranting bull you were a couple of weeks ago. I give you credit for taking it from behind and switching to the bear side so quickly. Unfortunately, due to your “fair-weather” predictions the past couple of weeks, you have lost every ounce of credibility you had left. Let’s see if you stay with the bears through the overdue rally that started today.

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  15. newequity

    Blackjack and Subprime mortgages anyone?

    http://www.bloomberg.com/apps/news?pid=20601010&sid=awOhpZQuyd6k&refer=news

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  16. CashIsKing

    Newequity, are you long, short or just like to kiss Fly’s ass? 2 weeks ago, you cursed at every bear poster. Now that Fly has switched sides, you’re silent. Get yourself a spine.

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  17. newequity

    yes, you are correct. I play both sides of the market unlike a bag holder like yourself. I am spineless and rick fucker.

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  18. CashIsKing

    LOL. Idiot. How long did it take to rewrite that message. BTW, “rich”…not “rick”…that’s your boyfriend.

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  19. Weed

    Jake is reading “Julius Caesar” and will continue to quote from it until the market rallies strongly. God help us.

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  20. akoy's evil twin

    Hey Knat, (spelling intentional for the dumbasses)

    Tell Mrs. Fly that I enjoyed it last night.

    Don’t fuck with me ‘hole.

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  21. Little Drummer Boy
    Little Drummer Boy

    Frosty and Santa need to get together and kick Fly down a flight of gingerbread stairs.

    Christmas is cancelled? Bullshit.

    Show some balls, Santa, or I won’t believe in you anymore.

    Pa-rup-pa-pum-pum, dickweed.

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  22. newequity

    hey dumb fuck, you realize this is not spelling class right? I can spell rich you fucking homo. I hit the wrong key. how is that cash doing fuckboy?

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  23. Bill Shakespeare

    Jake, wherefore art thou? Quoteth now steadfastly from thy scroll of olde fabled lore.

    Anything to give us a break from mindless and irrelevant banter.

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  24. Juice

    Yo JJ ! Wherefore art thou Parradium FUcker??

    Platinum hitting new highs … palladium breaking up

    yet with all those bullish underpinnings, you are about to lose the sub on your sub-prime home.

    SWC about to test multi-year lows
    PAL hitting FRESH multi-year lows
    FSLR on the verge of new highs on its way to 400

    Repent, loser !
    Repent!
    Puke’m up next time they let you out for some computer time.

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  25. gmac

    FLY is just saying how he sees it. Correction of larger magnitude in wait. Had the FED & banks been straight up about the situation all this dumb stuff would have been cleared out earlier in the year. But…No…

    So, hats off to FLY. the AAPL, RIMM, GOOG, FSLR of the world will make quarterly noise with earnings, but thatʻs it until this dumb stuff is done.

    Makes you appreciate how EASY…it was to make some dough PRE-2007… Yes?

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  26. CashIsKing

    Newequity, watch your language…you’re really starting to turn me on…fuckface! My “name” is just that, a name. I started riding the bear wave 2 weeks ago…before you got your lips stuck up Fly’s ass and when DevilDog was pointing it out. I went long today and will be laughing my ass to the bank while Fly panics because he’s on the wrong side again and while you’re playing with yourself waiting for ARAY to move…btw, what a dumbfuck pick…hahaha. You’re probably holding the bag from $28 and trying to publicize it on this site. BTW, next time you post a message, finalize it before submitting it. It’s obvious when you edit during the 15-minute window and it really makes you look like the retard you are.

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  27. newequity

    Go fuck yourself. I can edit my fucking post all I want to. 100 shares of ARAY will buy your trailer in a few years. Now go kill yourself. Stop trying to put words in my mouth, I bought ARAY at 15 and change fuckface.

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  28. SaNTa

    Collection agencies for credit card companies are running seriously hot right now.

    Short shit, fuckers.

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  29. chivasontherocks

    man, is there a full moon tonight? time to pass out the booze, dope, and prozac. btw, new marginal highs by next month.

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  30. The Fly

    Did I ever say I sold all my longs and went short, fuckers?

    Last time I checked, I’ve been touting my hedging, as opposed to being net short.

    Morons.

    Let China go up. I’m also long FXI.

    You can’t beat me. You’re just too stupid.

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  31. newequity

    Also, I am not stupid enough to think any of the wankers on this board like Cashisking have any influence over the price of a stock. Second, I would not wait until now to hype ARAY if I was down that much. I was simply passing along information…

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  32. CashIsKing

    Newequity, whatever makes you feel better, sweetie. Now go to bed, it’s past your bed time.

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  33. gmac

    i too am long w/FLY. Stickin with the leaders, not the fakers…

    aka AAPL, GOOG, RIMM, FSLR.

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