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

Retail Sales Non-Existent

We just booked the worst retail sales since the recession of 2002.

Very nice.

Aside from that, [[CHL]] and [[AAPL]] have officially ended discussions, essentially assuring the iPhone will not be sold in China. On that news, [[FXP]] is shooting higher in premarket trade, as CHL swan dives.

And finally, [[C]] only lost 10 billion and change, while cutting the dividend. However, investors are keen to their stupid games and are dumping shares in the premarket.

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13 comments

  1. Woodshedder

    [sic]

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  2. Woodshedder

    Barring any rally into the close on PPT shenanigans, I wonder if our bullish friends will come back around today…

    Specifically, I remember saying, “Those of you who are buying into this oversold rally are going to have a tearful reality check.”

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  3. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Yes, it’s interesting to note that Citibank is playing the same game of musical chairs — with increasingly credulous foreign investors — that The Market has been playing with the bulls lo these last nine months or so.

    The difference being that in the latter game, the chairs were being taken away in a gentle manner, so as not to upset you children, and in the former case, I am incinerating a “Citi” chair via “lightning storm” once every four days.

    Enjoy.

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  4. Juice

    Lets not forget the swan dive in LFC, looking down 3-4 preopen. That can’t hurt the FXP.

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  5. JakeGint

    Fly — I’ve been banking coin selling the month forward FXP 90 calls against my FXP.

    If you note the recent range, you’ll see this is a “milk the sick Chinaman” profit strategy.

    I’m thinking, however, that 90 may not hold this cycle through.

    Thoughts?

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  6. The Fly

    China will crash through the floor boards, sometime in ’08

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  7. The Fly

    Jake:

    I think $80-85 has been resistance. However, with this leg down, we may get a move past $90.

    Eventually, looking at the components of FXP, the ETF should trade up to $125.

    A lot of the banks are trading 50x+ eps.

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  8. JakeGint

    Oops!

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  9. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    This video clip contains some respectable short ideas, children, but I feature it mostly because I’m contemplating taking this lass on as a possible concubine.

    Try to ignore the fat sweaty eunuch with whom she is forced to interact.

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  10. JakeGint

    Thanks, I’m thinking maybe I should just get “too much” FXP, so if some of it gets called at $90 I won’t be too disappointed.

    Damn thing is so volatile though, the calls are rich!

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  11. JakeGint

    Btw — FXP looks like it’s going to open up between $6.50 and $7.00 higher.

    (Yes!!)

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  12. CubsRock

    Fuck the premiums on FXP calls. Its pretty much range bound the past 6 months anyways.

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  13. JakeGint

    Cubs — yeah, that’s what I’m worried about.

    I’ve been selling the calls, but I’m afraid it’s going to bite me on the ass this next go ’round.

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