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
21,250 Blog Posts

Impressive

I must say, that fucker “Sierra Water,” prominently featured at the top of this months leaderboard, has been knocking the cover off the ball. Thus far, he has recommended [[COIN]], [[SEED]], [[FEED]] and [[GRO]]. All of them have killed shorts, while enriching the gambling longs.

It’s worth noting, Green Writer, who has also been on fire, brought SEED to the table first, in the low 7’s.

As for today’s trading:

Before my meetings, the market was showing signs of fatigue, with key stocks losing momentum. However, looking at shit now, I am impressed with the staying power of the bulls. Apparently, they do not read history and are doomed to repeat it.

Anyway, the financials are still getting the “knife to the gut” treatment, with losses in [[NFI]], [[DSL]], [[FCFC]], [[PMI]] and [[FMD]].

Also, within retail, [[HAR]], [[TIF]], [[SHLD]], [[RL]], [[NILE]] and [[COH]] scream economic hardship.

On the upside, I like the bounces in the beaten down semi’s, specifically, [[SNDK]], [[NVDA]] and [[WFR]].

The only sector with real buying interest is Agriculture. Right now, [[FEED]], [[COIN]], [[GRO]], [[NOEC]], [[ARTW]], [[TNH]], [[CNH]], [[POT]], [[LNN]], [[AG]], [[MOS]], [[SYT]], [[CF]], [[MON]], [[DE]], [[ADM]], [[AGU]] and [[BG]] are exploding—dot com style.

Frankly, everything besides Ag is just dead cat bouncing. At the moment, Ag has all the momentum.

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19 comments

  1. The Spider

    Fly,
    can you comment on your current MVIS holdings?
    do you have any?
    what do your associates still have?
    i remember a thread you said you would sell half into the CES, did you sell all?
    anybody else know the flys holding?
    I seem to only see 150k or so of fly sells

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  2. The Fly

    Spider:

    I’d rather not discuss it.

    I’m all but out.

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  3. Chuck Keating

    A dead cat bounce is still a bounce. Don’t fight the tape.

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  4. pablodpt

    All ag sector is exploding. Grains are skyrocketing.
    China meat consumption keeps growing fast. Please have in mind that you need 10 pounds of grain to get 1 pound of meat.

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  5. Employee8

    If it’s meat you need then check out HOGS for pork, ham and sausages as well as fruits and veggies ….

    PS: Out of CWDK prematurely at $13.50 with stock currently printing $17.50 …. Damn!

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  6. PleaseKillMe

    Today is just short-covering Monday. Even home builders like HOV and MTH are up. Come, are you serious?

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  7. Alvari40

    Spider,

    The story still holds regardless of Fly’s position. You believe or you don’t. Who gives a rats ass if Fly still holds, how much he holds, etc. (no offense Fly). A lot of us lightened up during the runup to CES because we had too huge of a position during a time when the market momentum was going to drag down all stocks regardless of their story. Personally, I lightened up 50% to a level that I could just hold and forget about for some time. That way, I have a piece of the action because I believe, but at a level that will allow me to get through the bad times this year (overall – not specific to MVIS). This approach gets me coin if a surprise happens in the near future, but prevents a complete TO breakdown event if they continue to shit the shower. Make it part of your overall story, but not the only story you have to tell.

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  8. The Spider

    Fly,
    rather? doesnt mean you wont i guess.
    so have your associates sold out?
    I remember from the other blog that you guys controlled about 1.5 million shares?
    is everybody out
    BTW, alvari, thanks for the input, BUT, I am still a long time holder/loser of MVIS

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  9. Alvari40

    Spider,

    Certainly – sorry to hear about the loss. Last I read, Fly was out of 80% of his position (previous post by Fly supports this).

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  10. Juju bear

    Spider,
    MVIS is a loser until the story starts to get “joosy” again, which may not be until after summer.

    In the meantime, if you are a trader, you may want to get out in advance of the bear market that I ordered.

    Otherwise, if you are an investor, hang out or add to it at these levels, if you still like the story and have the balls. Balls are the key word.

    Keep in mind that this is a company that doesn’t make money. My kid makes more money caddying at the country club than MVIS made in earnings all year. Think about it. Odd, no?

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  11. Weed

    I thought I heard the voice of Darth Vader when the Fly said, “Impressive”.

    It must have been because of the last bong hit I took. I hate it when it does that.

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  12. Employee8

    Fly, Chuck Bennett’s avatar s/b Charlie Manson rather than Archie Bunker, No?

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  13. Alvari40

    Juju,

    Gimmie a break. We all know that this company is a small cap company looking to break out with new devices. To say that it doesn’t make any money is a “No shit” statement that means nothing to anyone that follows this company. Look at their balance sheet – debt is close to nil and their cash/cash equiv is around 40 million. We are waiting for the fucking breakout of their devices just like we did for GRMN 5 years ago. Rough times? Most certainly, but it gets back to whether you believe in the direction, if so, hold some. If not, get the fuck out – that simple.

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  14. Sierra Water

    Will somebody please tell DECK to stop going up. The daily stochastics are starting to turn up. I am heavy short up here. The primary downtrend line looks to be around $144. I would expect that is a cap for the stock. You have the daily 50sma at about 143 as well. So that is my cover point.

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  15. TraderCaddy

    OK-DECK- STOP going up you POS !!!

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  16. Juju bear

    Alvari40

    I’m sorry about your losing position in MVIS. I was merely pointing out to Spider that MVIS is a bullshit stock that has now become an “investment”, aka, a long term play with a good chance of running out of money.

    However, I do think that Russian sounding CEOs who use the words, “joosy details” in their earnings conference call, deserve to have their stock shorted. That is just my opinion.

    I’m not trying to imply that you don’t know what you’re doing, bitch.

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  17. Le

    Any thoughts on DF?

    Thanks!

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  18. ju bear

    you come off like a bitter internet gangster.
    chill and keep the constructive advice, minus the disparaging remarks, coming.

    thanks

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