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
20,476 Blog Posts

Sell the Banks!

No way those fuckers keep their gains, in the face of this blade (bear raid) on the markets neck.

While it’s true, many of you hatfuckers are waiting for a “bounce,” it’s not happening today.

The ECB is still fighting inflation. That’s right, those fuckers are living in a world of wonder, as the planet burns.

At the same time, all of the talking heads on CNBC are telling you (internet leech) to go long stocks, for a “tradeable bottom.”

Fuck that.

If you’re in cash, stay put. If you’re short the market, press your bets son; things are about to get sporty.

With Europe down 4% and Asian stocks getting the “knife to the stomach” treatment, my guess we will decline 3% today.

With my money, I am taking advantage of the unseemly dip in [[SKF]], thanks to asshole bank dip buyers. On the next leg down, expect the SKF to touch $140.

Finally, the Fed will not cut by 50bps next week. If so, I’ll eat my website.

NOTE: I’m buying [[EFU]] here too. Fuck Asia.

If you enjoy the content at iBankCoin, please follow us on Twitter

104 comments

  1. ezthere

    Brazil is getting its thong ripped off.!!!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. tehdrunky

    they will cut. and the ecb will cut too. but im still short the financials.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. KC Trader

    They already did an emergency cut, they won’t do it again next week, unless another 9/11 happens. That isn’t going to happen either!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. CubsRock

    So you think they will do 75 bps next week? πŸ˜›

    I don’t have the balls to short or buy SKF here. Just have to sit and wait for a bounce to get in πŸ™

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. steveplace

    Dude, I don’t know who you are and I may or may not agree with what you say.

    But that is not the point.

    You are the funniest son of bitch ever. Thank you for not pulling punches.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Gunners

    Ugly fur boots to zero!

    i was on the subway yesterday and a girl walked in wearing UGGs that looked like an indian headdress. they had feathers and fur and beeds all over them. i puked in my mouth a little and had to swallow it.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. Helicopter Ben

    Fly, I’m cutting the rates another 75 beeps next week. I’m here to save the market, son. And the Bush Legacy.

    How would you like your website served?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. pythagoruz

    rotflmao, you perma bull wanna be bear loser.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. pablodpt

    Hey, Helicopter you have 4 and a half more drops, and then what?
    You are caught, and with you, average Joe will be in deep deep problems, goodbye to the american dream for a while.
    In the meantime we will make money feeling no guilty at all.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. jeff

    broker broker 1-9

    I’m making fat cash.

    DUG
    FXP
    SMN

    Any advice, I don’t want to get greedy, but trend is your friend?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. The Zombie

    Fuck Herb Greenberg! Fuck Herb Greenberg! That little prick!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. kd

    How low do we go? When do you think this will bottom out? Is today the panic puke that you were looking for?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. BOOMER

    some bad juju circulating…insolvency of banks stuff…the guy who manages my money in st louis emailed me with some things…even asked m to make sure i had cash on hand in the event of emergency.

    Anyone hearing this crap? Fly?

    We may shit the shower in the am.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. Dover

    Short of $0, what’s our target on DECK? I’ve got some March puts, that have been on fire thanks to Fly’s calculator brain, but I wondered where we think the bleeding will stop. Earnings are late Feb.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. The Fly

    Fair value for DECK is $55.

    Odd, no?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. jojo

    GRO got killed, where is that idiot that was backing up the uhaul???

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. The Fly

    Boomer:

    Your Broker couldn’t shine my shoes.

    Just a thought.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. BOOMER

    I make no warrants about my broker’s efficacy compared to yours, although he did quintuple your returns in ’07. Just saying.

    I am asking if you are hearing anything about an immediate and pending insolvency of a US bank?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. jeff

    who your broker, i’m in StL, I go f’ him up.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. Alvari40

    DOW 11723 (200 ema weekly chart) held. Covering another block of my shorts (SMN, RTI, FCL, OLN, etc.). What? I need to pay for those fucking AAPL shares.

    Shedder – whaddya say about VVUS?

    Lastly – look at JBLU

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. CubsRock

    Double bottom is in. Can I get my bounce now?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  22. Woodshedder

    Alvari- stopped out of VVUS. It was a technical play for me.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  23. Alvari40

    Shedder –

    Thx for the feedback.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  24. TraderCaddy

    My bank says I can refi-no cash out- (15 year) for 4.75%, no points. Two weeks ago it was close to 5.66%. Pretty soon they will have to pay me points to refi.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  25. Woodshedder

    Cubs, double bottoms don’t happen in 1 day. I wouldn’t argue there might be a successful test of the bottom, today. We’ll see.

    Anybody else watching SRS?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  26. BOOMER

    Which bank, Caddy? Lemme guess: BAC?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  27. The Fly

    VVUS is a limp dick stock.

    I am not hearing any pending doom in the banks.

    However, take a look at MTG.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  28. CubsRock

    Well I was going from yesterdays low, on the DOW.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  29. TraderCaddy

    BOOMER-You are correct.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  30. Woodshedder

    Fly, wait until your wife gets fat, and then loses her desire.

    Then you’ll love VVUS….

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  31. CAP

    Flys wife is already fat and has lost her desire. Fly gets off shorting stocks.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  32. Woodshedder

    Cap, that is really, really an uncool thing to say.

    You upset Cap that you bought all that QLD yesterday, only to see once again, as you have been all week, that you were wrong?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  33. Alvari40

    This fuck on CNBC (Michael) saying that his clients are not calling/complaining because the company sits down with them so that they understand what they are getting into with their finances. Makes me want to puke.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  34. ezthere

    Fund managers will sell into the close. look for a big leg down…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  35. ezthere

    “This fuck on CNBC (Michael) saying that his clients are not calling/complaining because the company sits down with them so that they understand what they are getting in to with their finances. Makes me want to puke.”

    and Bob pisani claims to know realestate. His gyrations make me sea sick. Stop moving around.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  36. TraderCaddy

    Actually, I understand that Bob Pisnai’s Dad was (is) some big deal real estate developer. I remember when Pisani was on the old FNN (Financial News Network-pre-CNBC) and he used to do the real estate segments.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  37. The Fly

    Cap:

    Your Mother is a goat milking whore.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  38. Goat Milking Whore Assoc.
    Goat Milking Whore Assoc.

    What’s wrong with that?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  39. alphadawgg

    Expecting a major bank and/ or broker to fail in Q1?

    This has been the locker room talk at the Bilderberg health club. It has since made its way through the socio-economic strata and is finally reaching the internet fucktards.

    As Fly indicates, with emphasis, sell the banks. Citi going to under $10.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  40. Employee8

    Woody …. VVUS (Odd, No?) sold their female sexual aid to KV Pharm … all in on their obesity drug …. no help to fly’s wife unless she’s gaining weight from all those 2 1/2″ ribeyes.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  41. cheesefries

    boomer-
    Time to dump that boom.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  42. BOOMER

    My locker is next to his his brother’s at Belle Meade.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  43. CAP

    Sorry. I was just kidding.:) I like messing with the Fly.
    BTW I have no parents. Lost them in an accident when I was 2. I can’t verify that my mother was a goat milking whore.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  44. BOOMER

    I dumped it all cheese. Been trading it the last few days, buying at the open, blowing it out into strength. although this move up, 47 as I type, has me feeling i missed somehing 47.23 now. fuck

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  45. Goat Milking Whore Assoc.
    Goat Milking Whore Assoc.

    Yes Cap, your mother was one of us. I knew her well. She was a strong woman with a heart of gold, and she was always cheering us up when times were tough. She was a first class goat milker, and a first class whore. I am proud to say I was her friend.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  46. CAP

    Wood,
    I am still buying QLD. Picked some more under $65. I don’t take all my position at once. As of now I have 60% of my intended QLD position. Once we start the violent leg up I will take the other 40% and maybe more. Have over 25% cash right now. I had some SKF that didn’t get sold yesterday and I got sells at over $128 this morning !

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  47. Howie

    nice reversal today…….long abk and mbi from fridays hammer, and into some cop, as of this morning.thats it o vey

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  48. Employee8

    Sure acting like another rate cut is coming soon …. even YRCW is up along with WHR and other hommies and financials

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  49. CubsRock

    Wow, nice bounce in AAPL. Damn no up tick rule makes for some great buying opportunites.

    I wonder if Fly has any working tv’s left in his crib? CNBC calling Bottoms and saying buy Banks πŸ˜›

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  50. gappingandyapping

    ROASTED!!! Recession over, no more credit crises. Resume the sub prime loans. DOW 14,000! Homeless and need a home? Come on over to Countrywide!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  51. JakeGint

    Cellshort–

    Although I disagree with the sentiment, that’s an awesome “tool” and should be made a “button” on the Fly website immediately.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  52. alphadawgg

    Jake-

    Do you know what Mr. Fibonacci is saying about a retracement?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  53. StocksRider

    Fly, I love your posts! I feel if the fed doesn’t cut again, something else will have to give (injections, ECB, libor, etc.) in terms of reducing the lending rates because the differential with treasuries is getting pretty wide

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  54. DPeezy

    I thought yesterday was crazy…but at least it was mostly 1-directional.

    Today is simply fucking crazy. -300 to even?!

    And I’m stuck in training all day at work, so I’m sure I’ve gotten stopped out of all my positions without being able to re-open any new ones at the bottom…

    Back to work…before I get to assess the damage in about 45 min.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  55. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    If you were at my Temple earlier begging for a comfortable start price on DECK, children, you are in some luck.

    My goose that lays golden eggs and an occassional golden turd tells me:

    “$119.85 is the 38 fib that is true

    Go short the bounce and make the longs blue!”

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  56. alphadawgg

    I hate it when you get poetic.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  57. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    I agree that it seems unreasonable that I’d have a pet goose that not only procreates heavy metals, but also speaks in “mortal” with the aid of Danny Kaye rhymes…

    But then again, I’m a remarkably versatile demigod.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  58. Helicopter Ben

    Fly:

    My helicopter trumps your pissy little time machine.

    Love, Helicopter Ben

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  59. JakeGint

    Alpha,

    At 2:15 or therabouts, the Cubes hit 43.00 — about a dime off my hastily drawn long term fibonacci line of 61.8% at $43.10.

    It dropped almost immediately thereafter.

    Odd, no?

    or No?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  60. alphadawgg

    Jake,
    Your tea leaves are steeped in accuracy.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  61. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Ben, my servant:

    Why are you over here posting on these boards when I have charged you with the duty of introducing foaming mad squirrels into the markets?

    Get back there and be about your father’s business!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  62. Ian

    Wednesday’s always seem to whipsaw like this. Crazy!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  63. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    It would be in your best interests to follow “the Fly” here, children, and purchase some SKiFfles for your account.

    I feel an urge to defecate on a money centre coin and usary institution coming on…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  64. Bearonidus, Son of Shorticus
    Bearonidus, Son of Shorticus

    Who unchained Ben from the grist mill?

    I will have his head on a golden platter, surrounded by wheat crackers.

    More wine!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  65. The Fly

    Sorry Cap:

    I meant it in jest.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  66. Wang Hang Lo

    I have been away for a while to factoly. Wow! Dis maahkit is clazy!

    I now buying FXP fo Costanza tlade!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  67. CAP

    Truth be told SKF and SRS both look attractive here. But one can’t argue with the irrationality of mother market. Perhaps I will put in a buy order for SKF at 110 and SRS at 112

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  68. cellshort

    Like I said, spank the monkey boys. Time to cover your shorts:

    http://www.rallymonkey.com/video/kenindex.swf

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  69. tehdrunky

    i feel skf pain.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  70. CAP

    Rumor has it the IRS will be putting an extra 0 at the end of everyone’s refund check.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  71. ottnott

    What the hell am I going to do with $27.450?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  72. ottnott

    I guess i could buy 5% of Citibank, if I’m patient.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  73. TraderCaddy

    There is my 2% SMH-done for the day. Thank you INTC,TXN. I love you (today).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  74. CAP

    Ottnott, move it over 1 decimal place – $274.50 .

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  75. Juice

    Greedy bears feel the other side of the blade … what a turn

    this morning, nazz was down 30 when i went out for 90 minutes. i come back, down 85 …. i go out again, back to even

    holy volatility batman !

    bears could get their heads ripped, the fuck, off tomorrow

    bulls are gonna throw it all at them & try to squeeeeze the shit out of their greedy paws

    bear beware

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  76. Propsectus

    The beard of Bernanke apparently causes aftershocks! Wild.

    I have kids, a mortgage and all manner of deductions. Should that rumor prove true, I could do with a 5 figure refund…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  77. ottnott

    CAP:

    Hehe. Like I want to own 50% of C.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  78. ottnott

    Juice: remember, the current market price reflects the collective wisdom of investors, pricing in all knowledge and expectations.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  79. CubsRock

    CAP, SRS may look good soon. I watch KBH and BZH closely and both are nearing resistance. However, my gut tells me we trend up til next Thursday.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  80. gappingandyapping
    gappingandyapping

    Get drunk and buy stocks!!!! All clear!!! Buy all financials! Crisis over because I said so!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  81. ottnott

    We trend up until the market realizes that trending up means no 50-point cut by the Fed.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  82. Employee8

    Rumors of possible EAC cut tonght

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  83. Market God

    Thou has’d pushed the short side for too long.

    I will continue to tighten my vice on the DECK short’s gonads

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  84. MarketRaider

    Well homo-hammer is right but it seems that the bulls wield it this time around and are whacking the bears like a bad game of whack-a-mole. Anyway obviously everything must be dandy since we just decided to rally 200pts. Maybe I’ll just go smoke a joint and start buying every stock I see since Ben’s got my back. At least LEH is back into short territory.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  85. Helicopter Ben

    I gots your back, MarketRaider. If that bear comes back,I’ll put a cap in his ass!

    Gunship Ben

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  86. Alvari40

    For those of you fucktards that drink from the glass of the Alvari Time Machine, you are most welcome for the call of DOW 11723 support. Sorry FLY….just wanted to see what it felt like being you.

    Seriously, 39.2% Fib is 12437. This level is also near the resistence of the downtrend line from late December. Plan to peel some profits from any longs as we approach this level. Next stop after that is 12695 (50% fib).

    Also, JBLU and SBUX ain’t doin bad today.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  87. Juice

    Kass finally getting paid for being a week early buying financials.

    I think the DECK reversal will fail. Still a short.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  88. Employee8

    Where’s the honey hole on DECK?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  89. Henry C.

    The rally is due to rumors that ECB will cut rates and that there will be a massive bailout for bond insurers. ABK up 65% today…”Bear” in mind these are just rumors…Will wait a couple of days and go Long SKF, SMN hard.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  90. china bear

    all i know is we saved china’s butt tonight. they’ll party on some more, “it was all just a dream!” “the olympics” “our time is now” “buy the dip!!”

    fxp should have dropped much more today. but give it a few days, when the near term b.s. fades…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  91. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Odds! Blood!

    It’s a fiercesome storm of firerocks from the Giants of Longue who haunt the mountains of Olympus.

    I am readying thunderbolts as we speak!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  92. Juice

    Everyone is gonna get long for a couple days. Lots of firepower out there on the short side + those who went to cash. This bear rally could be fierce.

    Prepare to get declawed.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  93. TraderCaddy

    Breaking my daytrading rule for a small swing trade in EZU (Europe ETF) which is about 35% financials. I hope a European bank doesn’t go under while I sleep.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  94. Oxy Moron

    When everyone in FXP heads for the doors, look out!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  95. JakeGint

    At the risk of getting my balls nipped off, I’m calling “no fucking way” on this one, and shorting the cubes at 44.08.

    Why?

    Because the cube puts I made DOUBLE MY MONEY ON IN ONE DAY…. Are CHEAPER NOW than they were when I bought them…. which was fucking YESTERDAY!!

    LOFL!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  96. JakeGint

    Holy crap, Skiffles (SKF) looks like CRAAPL!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  97. china bear

    a couple MVIS shorts starting to lose their nerve. Now if only someone wanted to buy this thing for the obvious 50% nearterm recovery…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  98. ottnott

    SKF? Look at SRS!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  99. Alvari40

    Shedder,

    Nice recovery for VVUS.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  100. Juice

    careful on the cubes jake … no one is left to blow up after aapl … goog was down like 500 today at one point … rimm was down off aapl … the sellers are done for a couple days

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  101. Alvari40

    Juice,

    Well said. Very rational, logical statement.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  102. JakeGint

    Bears don’t end on V-bottoms Bruce.

    Too much, too soon.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  103. JakeGint

    (But I did close my RIMM short today)

    • 0
    • 0
    • 0 Deem this to be "Fake News"