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
23,431 Blog Posts

Before Buying Stocks, Consider This

Garbagio sectors are on fire, since hitting the lows in January. Now, if the U.S. economy is heading into recession, the banks, retailers and homies are triple sells. The only way the mentioned sectors go higher, or sustain current levels, is reliant upon unbelievably positive economic data, starting with non-farm payrolls on Friday.

While it’s true, the media is reporting the recent gains in dogged out sectors; they’re not elaborating how much they have run, since the lows.

The following is percentage gain data, in select financials, homies and retailers, since the lows of two weeks ago:

Financials

BAC +26%

JPM +26%

C +25%

WFC +34%

ACF +51%

COF +48%

WM +68%

MBI +137%

ABK +198%

AIG +15%

RDN +65%

WB +33%

MTG +72%

UBS +16%

GHL +24%

MS +16%

MER +21%

LEH +27%

ETFC +98%

BSC +34%

FIG +38%

BX +10%

LAZ +23%

IMB +126%

Homies

PHM +73%

RYL +52%

KBH +70%

TOL +45%

BZH +88%

VNO +17%

BXP +18%

DHI +72%

LEN +58%

CTX +52%

SPF +136%

HOV +94%

MTH +25%

WCI +259%

SPG +17%

EQR +23%

CBG +20%

SLG +18%

Retail

SHLD +23%

HD +25%

LOW +30%

M +29%

JWN +35%

COH +35%

RL +22%

BBY +14%

JCP +33%

KSS +19%

SKS +27%

HAR +22%

TIF +18%

GES +22%

UA +28%

AEO +35%

ARO +22%

CC +57%

BBBY +24%

Feel like diving in here?

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41 comments

  1. wow

    Fight the fed?! ARE YOU NUTS! So it is written (and repeated over and over), so it will be.

    Greenberg had a good piece about this mantra.

    http://www.marketwatch.com/news/story/story.aspx?guid=%7B30E03424%2DC2D4%2D7424%2D22D2%2D46C0EC002972%7D&siteid=rss

    All I know is that 2 weeks (or was it one?) ago, the “street” was fuming about C and MER not throwing the kitchen sink out… they can’t, no one knows what shit they have in their panties.

    If you think slashing rates is going to offset the next wave of badness, you’re nuts.

    About a year ago, all we were hearing is “subprime is contained”… whoops, turns out it’s not really subprime at all! it’s EVERYTHING!

    I think the strategy is simple, keep that cash, find the short positions you’re comfortable with (me, it’s MER & C on these bounces, along with the shit solar sector) and don’t go all-in on either side. Short the uber P/E stocks going into their earnings and you’ll probably do allright too.

    Then again, i’m not a daytrader, playing longer swings I guess… Fuck i’m having an identity crisis.

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  2. ottnott

    Great list. Thanks.

    Do any of those bank stocks have a division that retails solar panels for installation in new McMansions?

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  3. Q4

    Short Squeeze Engage.

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  4. broken A

    fuckin a…that’s an awesome compilation

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  5. TraderCaddy

    Yes, a very good list. Well, I have to get to bed early now since I have an early flight in order to arrive at the Platinum Party on time tomorrow. First, I have to locate one of my fake IDs showing proof of age under 47.5.

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  6. Woodshedder

    Thanks Fly.

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  7. Q4

    Pssss…

    Wall Street bond rating agencies are poised to downgrade two big bond insurers, Ambac Financial Group and MBIA, even though New York state insurance regulars would like to get a postponement until the state can develop a bailout package, CNBC has learned.

    Losing a Triple A rating could be devastating for the bond insurers, preventing them from drumming up new clients — and possibly forcing them out of business.

    Barring some last minute agreement on a bailout package, the downgrades could come as early as Wednesday.

    – Reuters contributed to this report.

    Est. $5 billion – $200 billion to recapitalize. Pony up. This market is going to get blind sided.

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  8. mdawsz

    I went long DECK today at 119 and 120.

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  9. Woodshedder

    Mdawsz, last time you and I went head to head, me short, you long, I lost, pretty horribly.

    May the best fucktard win!

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  10. wow

    Last week the potential monoline downgrades were the end of the banking industry as we knew it… this week, we rally 300 on them losing AAA?

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  11. The Fly

    MDAWS:

    I will eat your liver.

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  12. mdawsz

    May the loser be crowned Internet retard for the Month of February.

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  13. Alvari40

    I gotta say that I am just fuckin frozen when it comes to market direction. The news coming from the bearded one tomorrow is fucking huge. I had such a tough time trying to game the decision, initial market reaction, secondary market reaction, medium term market reaction, long term market reaction – I just froze. I decided to visit a friend in The City that wasn’t a market participant because I wanted to get away and not think about the market or hear the voice of one of those CNBC fucks for a few hours. On my travels along westbound I80 some Pabst chugging nimrod lost the bumper on his car and layed it on the freeway just in front of me (I think he also tossed an empty can or two from his rig). No chance to avoid – blew the fucking tire right out from underneath me. As I sat on the shoulder waiting for expert road service to bring a car jack that actually worked, I witnessed a construction truck flinging out industrial items from the back of his bed – guess he didn’t get the contract. One item was this 16 foot aluminum ladder that landed smack dab in the heart of traffic. For those of you not familiar with I80 in Cali, lots-o-rigs that don’t slow down or stop until they hit the Bay. I sat there and watched this ladder and traffic screaming around it attempting to avoid it like Florida voters avoiding Giuliani. I decided to be a good citizen and use my new iPhone (yeah, I am still long AAPL) to place a call into the CHP with the hope of avoiding flying shrapnel, esp since I was dead in the line of fire and had no escape. I must have sounded like a frightened girl to CHP dispatch when a rig made first contact. Once it was splintered and scattered, it was a matter of 10 minutes before the fucker was pulverized beyond recognition. It was 15-20 minutes before CHP arrived on the scene with lights blinking and traffic brought to a crawl. Once they realized that there was nothing left, business as usual. Shrapnel was tossed over the sound wall into yards, into the median, shoulder, eastbound lanes – the ass kicking that that ladder got was without mercy or concern. I was back on the road 2 hrs later left with the horror of what I had just witnessed. I say “horror” because while I watched the incident today, I didn’t see an inanimate object in the middle of the freeway getting reduced to it’s elemental makeup, rather, what I saw was myself undecided, holding various BS stocks in the middle of the market scratching my fucking head wondering what I should do to prepare for the Beard’s decision. I could just see it, before I could make the call, I had mammoth market volume pulverizing my P&L without apology or concern. I got out of that situation today by being on the shoulder away from traffic. I was able to call my broker on the way home, and had him liquidate my holdings (long and short) except for the essentials (yeah, AAPL is one of my essentials). Instead of trying to game it, I will just sit quietly on the shoulder and wait for road service. I am currently 80% in cash.

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  14. expos4ever

    well written Alvari

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  15. Weed

    Alvari

    That was a nice story.

    Coincidentally, I was also on I-80 today. I threw an anvil from the back of my pickup on a bet to see how high it would bounce. The thing almost hit a CHP unit as he pulled off onto the shoulder to help some asshat talking on his iPhone.

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  16. Sith Yoda

    Egregiously long explanations deter not the moniker “pussy”‘s application.

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  17. Alvari40

    Expos4,

    Many thanks. Fly – my apologies for posting that here, but I left my fucking password for the Peanut Gallery at the office. Hope my boss doesn’t find it, oh….wait, I am my boss. Just bustin your chops Shedder.

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  18. Yoda

    Sith Yoda, egregious you are.

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  19. Oxy Moron

    Alvari,

    Thanks for the story: it made my day. I assume the market’s right about the rate cut, but I personally think it’s inconceivable that they cut another 1/2%, pouring more gasoline on the fire. So SKF+.

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  20. expos4ever

    I too will be again dipping into SKF tomorrow AM – buy #4. don’t worry Cramer, I’m averaging IN not DOWN.

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  21. alphadawgg

    Btw, technical analysis of SKF not looking good.

    Just saying…..

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  22. expos4ever

    dawgg,

    as an inverse ETF, what kind of technical analysis are we talkin about?

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  23. Danny

    I don’t want to get caught picking sides, but what I will report is that Uggs is not done.

    I repeat. Uggs is not done as a fad.

    Stock could go anywhere on guidance or something, but the hot, tan, sexy girls I hang out with a lot that all you fruitcups jerk it to still “love” uggs and are buying uggs. I asked them in between trying to get them naked or something.

    numerous pairs, dif colors etc. the bitches be on it. Unlike COH which every hooker has but isn’t buying in droves.

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  24. calvino

    Danny, save the bullshit, the bitches you fuck are just cut fucking bait, remember, that tab and your 20,000 with scottrade is your claim to fame,, that carries about a pissful of water. Since you wanted to get technical.

    NOw, Ben Bitch helicpoter CEO of a shitty econ dept is running the juice down in the overnite. We;ll see you tommorow, Ben bitch, srs say fuccing hello. Once again, I gave you JRJC two sessions and 20% ago. srs is flat but at least you are not sucking dick on that call. fair is fair. ack fucking knowledge.

    Its two forty two, and yea, I just di get done fucking with hot bitches – the difference being, this ain’t no fantasy fucking – no offense , Danny.

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  25. DPeezy

    calvino, ever the eloquent one.
    If nothing else, SoCal will save the Ugg business.

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  26. Dinosaur Trader

    Wow, the site has hit a new level of ugly.

    I guess that’s appropriate, considering its orange origins.

    Congratulations on your million hits, even if only 21,718 when to Danny’s blog.

    -DT

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  27. Woodshedder

    Alvari- hahaha

    Good plan though…

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  28. Helicopter Ben

    You boys see Q407 GDP?

    Gonna cut that bitch hard today.

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  29. TraderCaddy

    Please pass me a beer and one of those shrimps. Thanks and is that Danny over there doing skateboard stuff off the walls with a lampshade on his head?

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  30. BOOMER

    what is up with HWAY. down 15%, no news. downgrade? anyone?

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  31. JakeGint

    These Prawns are as big as my head!

    _______________

    What’s up with the guns and money wallpaper behind the page? Subliminal something or other?

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  32. TraderCaddy

    Must be Long Island Sound Prawns. I saw Fly out there this AM with a big net. They are weird looking though with three eyes and they do light up in the dark.

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  33. DPeezy

    I figured this party would be classier than Colt 45. Where’s my Boone’s Farm?!

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  34. The Fly

    Jake:

    See front page.

    Dpeezy:

    The beverage selection was Wood’s idea.

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  35. JakeGint

    It’s over on the card table with the tin foil around the box.

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  36. JakeGint

    Oh shit, DT is passed out already…

    Damn blush wine!

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  37. DPeezy

    Yeah, watch out DT! That shit hits hard!

    And since our beer is apparently supplied by the Midwest, I’d like to request some Natty Light and Bud Ice as well. You know, for the beer pong (no paddles).

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  38. Q4

    Colt 45, it works everytime.

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  39. Anne Maybus

    I disagree with you. Indeed, I’m not giving a ringing disagreement, but just sayin’ what I think. I have my opinion, you have yours.

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