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
21,152 Blog Posts

Tech Party

Hey, there’s a tech party and someone forgot to invite me. Although the banks are sucking wind (again), many of the old momentum names are ripping higher, which happens to be very bullish for the market.

Right now, [[RIMM]], [[CRM]], [[AAPL]], [[ERTS]], [[MON]], [[FCX]], [[MELI]], [[BIDU]], [[CLF]], [[HAYN]], [[CENX]], [[AG]] and [[FWLT]], just to name a few, are killing bears—all day.

If you’re short the market, the only thing that’s working is “fuck the banks,” “fuck China” and “fuck commercial real estate,” via [[SKF]], [[FXP]] and [[SRS]].

With my money, I will wait for a better opportunity to buy more [[SMN]], being that I’ve been exactly wrong on recent buy points. And, I will look to buy into select natural gas stocks, like [[CHK]], [[SWN]], [[NGS]], [[UPL]], [[TXCO]], or mortgage companies that invest in GSE agency bonds, like [[CMO]], [[NLY]] or [[ANH]].

However, it’s worth noting, the market still blows and will likely retest the lows of the year, sometime very soon.

Write that down, snitches.

UPDATE: SKF gets you short [[AIG]]. As you know, they’re entirely fucked. And, the Dow Jones Industrial Average just sandbagged themselves, via kicking out [[HON]] and [[MO]], while adding [[BAC]] and [[CVX]]. I guess someone at Dow is against diversity.

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9 comments

  1. WildWestie

    Love CHK. I follow Aubrey and never lose money. His purchases are unreal for a CEO:

    http://www.secform4.com/insider-trading/904719.htm

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  2. alphadawgg

    Tokman needs to take a lesson from Aubrey.

    Oops. Too late.

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  3. Mushroom Stamp

    This market is range bound, I am selling out of the money options

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  4. Juice

    this rally has another 10 days left … it may have fits & starts for a while but will end in a one day bear killing up-explosion

    I have seen the very near future: and it has higher prices in it

    bank on it

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  5. The Fly

    Juice:

    If you were within twenty yards of me, I’d have a football thrown at you, in order to knock your fucking eyebrows off.

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  6. Juice

    Instead of throwing footballs at my brows, pick your spots & put something on for an upside hedge.

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  7. goatbroker

    “Microsoft bid undervalues company, yahoo says”

    Those yahoo yahoos are living in some ethereal suck my nasdaq 5000 state.

    Sniff some more glue Jerry.

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  8. Juice

    Berkshire is what should be added to the DJA . Clean as a whistle, more American than your mother & her apple pie, and a conglomerate of a hodgepodge of a patchwork of a crossection of the USofA.

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  9. The Zombie

    The Fly is God

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