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
22,010 Blog Posts

The Bottomless Bottom

Much like 2000, this market is unable to find a bottom, as investors reel from staggering declines in momentum and “value trap” stocks.

When investing, it’s important to look at the underlying business of the stock you are buying, instead of stupid lines and dots (charts). The question you need to ask yourself is: will business improve or deteriorate?

For example: one of Apple’s suppliers is citing a big drop in orders from the iPhone fuckers, due to taking a “conservative view toward macro economics slowdown.”

Now, I’m long [[AAPL]] and love the company; but there’s no fucking way I’m buying it higher than $150.

With regards to [[MVIS]]:

I am using this spike in volume and price to reduce my exposure to small cap/unproven names. In bad markets, story stocks get the “homo-hammer of certain death” daily. Keep in mind, all the CES hype will soon be a memory.

Finally, I’m leaving early today, due to a celebratory event. I am quite pleased with my market positions, especially my shorts.

Are you?

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24 comments

  1. Richard A.

    I wouldn’t put much into Scott Moritz. He tends to be wrong on Apple. His sources blow.

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  2. Danny

    quite pleased

    HUM, ESRX (new), MO, DLB.

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  3. Derrick

    You’re an ass…talking down your own position.

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  4. ottnott

    Nothing wrong with being cautious on AAPL, but I call bullshit on the supplier story.

    There may well have been a cut in the orders Apple placed with the supplier, but the story about it resulting from Apple’s “more conservative view toward macro economics slowdown.” is bullshit for 3 reasons:
    1) cuts that steep are characteristic of model/design changes, not inventory adjustments
    2) AAPL wouldn’t be telling a supplier why the cuts were made
    3) a supplier who wanted to continue supplying to Apple wouldn’t pass on something that Apple had told them.

    Note that report from thestreet.com adds: Catcher [the supplier] was unavailable for comment, and an Apple representative declined to comment.

    Catcher is going to stay “unavailable” on this story, I predict.

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  5. TraderCaddy

    SBUX rockin higher. Schultz is back with a plan. You knew something was up when the stock was bid higher during the day although the news about McDonalds opening “coffee bars” should have hurt it. Obviously, the Wall Street crowd had inside info about the after hours news. Strike another one for the big boys running things.

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  6. JakeGint

    Of course I’m pleased, dammit.

    Even w. my RIMM shot, stubbornly clinging to $100.

    (I may add tomorrow)

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  7. JakeGint

    TC, oversold rally, all old winners have ’em.

    Don’t get too excited.

    “Done” and “done.”

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  8. TraderCaddy

    Not excited. I don’t care about anything on Wall Street except what I am daytrading for the moment. I may be a Tradebot (with less $$).

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  9. Working Name

    Right, you dumb ass. Tell us the truth, you are leaving early for your second job to support your family.

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  10. TraderCaddy

    Me? I have no family. They threw me out years ago. I live in the Everglades with the Seminole tribe who feeds me leftover gator meat. I sneak into the Seminole casino and beg for handouts from the tourists.

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  11. Brian

    junk bonds baby ya I’m buy high yeild with both hands mother fucker….s

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  12. Woodshedder

    Happy Birthday Fly.

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  13. larry

    Alias BPOE

    FLY you sound like an old gray beard. This is an election year. The FED and the PPT can bitch slap you at any minute. Yes you are right but don’t be so quick to ride the bear.

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  14. JakeGint

    Trader, don’t bullshit. You going to the Ryder Cup at Valhalla this year?

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  15. TraderCaddy

    Fly’s birthday? Happy Birthday and enjoy the 2″ ribeye.
    Going to the Ryder Cup in September would be great. I actually have thought about it but I try to get to my son’s first college tournament of the Fall so I am waiting for the schedule to come out. The USA better win this one.

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  16. JakeGint

    They will. Moonshine will be strategically placed in greasy Euro domicile-age.

    Not to mention, loose womens.

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  17. TraderCaddy

    I hear the Kentucky women can be as wild as Northern Dancer and Riva Ridge.

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  18. JohnnyBlago

    Fly

    Any word on any analysts coming out (of the closet) and recommending MVIS?

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  19. Tim

    I can’t wait until the homo hammer drops on your head as the Chinese can make it rain so you know they can make their shit market go higher for the Olympics so the locals with online brokerage account can buy a decent pair of rice clogs

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  20. phatfriday

    in hong kong you can get a bottomless bottom for about 10 dollar.
    and you can love it long time.

    oh wait, growing Chinese economy…
    11 dollar. 10% growth.

    tip not included. (tip, same as broker fee.)
    will work for chicken wings though. (disclaimer: this does not mean buy BWLD)

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  21. jeff

    happy b-day

    try some delice w/ tempranillo and gator meat

    shit, anyone think mvis hit a secondary?

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  22. BOOMER

    Happy birthday. I hope we’re all around long enough to “switch teams” and make fun of the young ‘uns someday.

    BOOMER

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  23. John

    Hey Fly,

    Way to swing the “homo-hammer of certain death” at your own stock (MVIS).

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