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
21,077 Blog Posts

I Quit

I have things to do, people to see. I’ll have you know, “The Fly” doesn’t have time to waste with internet fucktards, who are unable to make cogent financial decisions.

In the meantime, fellow bloggers, sign up to Ragin’s stock contest. I bet you third rate bloggers don’t have the *bollocks* to go head to head versus me.

With that being said, I bid you fuck you.

NOTE: The market looks strong today. If I was forced to buy something, I’d consider [[RIG]] or [[WBD]].

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

41 comments

  1. nncoco

    Bought RIG and some OIH last week. Me likes gold and oil (not PLA) in this inflationary economy.

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

    Strong?

    Market looks like it is on drugs.

    Until the drugs wear off, we won’t know if it is using stimulants, traquilizers, or both.

    World economy looks like a pile of Jenga blocks in the latter stages of a game.

    Countries with large trade surpluses are spending like maniacs on infrastructure. Countries with large trade deficits are tapped out and suffering growing credit contractions.

    Markets are trading like the game can continue indefinitely – as long as each block removed from the tower is put back into the tower, why should there ever be a problem?

    The longer the market holds up, the more I worry about the real world impact of the economic imbalances.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. calvino

    The douchebags were gaming the fed notes all along? How is easier credit going to help your insolvency issues fuckbitches. Keep cutting you fucking cumgoon, the 30 yr mortgage is north of 6%, you dipshit. Oil north of $101.

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

    Bernanke is an old cuckold

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

    And that is a conforming mortgage, calvino.

    Mortgage Rates Slammed

    Mortgage rates have been taking a beating the last couple of days – today’s 30-year fixed conforming rate is around 6.25% with no points.

    It was only a couple of weeks ago that you could have gotten under 5.5% without much cost, today a rate of 5.625% will cost you 2.5 points for a conforming 30-year fixed.

    They say that the investors don’t want to buy mortgages, can you imagine that?

    Posted on Tuesday, February 19, 2008 at 01:14PM by Registered CommenterJim the Realtor
    http://www.bubbleinfo.com/

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Big Mike

    “I Quit” Whoa… I guess I didn’t see that coming…

    WHUHAHHAHAHA

    That was a joke…

    Go suck a bible…

    I’m going long Gold… $1200 here we come!

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

    Same source as above analyzed January sales in 3 regions of San Diego county that have a median home price somewhere near $700k, I’d estimate.

    He found that, of the 75 sales:
    –80% of the buyers made downpayments of 20+%
    –only 1 buyer put down less than 10%
    –no buyers got 100% loans

    That’s a stunning change from the ratios of the recent past.

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

    Danny, are you saying Bernake’s wife is hot?

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

    Picking up more SLW here, on a whim.

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

    That was a surprise – did I miss the good news today or is bad news good news?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. Dinosaur Trader

    My pick is short SWC.

    I’m the instant crowd favorite.

    -DT

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

    The Federal Reserve on Wednesday lowered its projection for economic growth this year, citing damage from the double blows of a housing slump and credit crunch. It said it also expects higher unemployment and inflation.

    Did I miss something?

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

    Apparently a shit economy is excellent for stocks. WTF?

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

    gappingandyapping you missed Oil at 100.74….

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. Dinosaur Trader

    Cubs,

    That’s another reason why gapping should be right? This rally makes no “logical” sense. Could mean sentiment is shifting. However, the volume is weak, so it could just be more short covering.

    -DT

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

    DT,
    Any idea why anyone would start covering shorts today. We’ve got several triangles forming on the indexes and they are usually continuation patterns – right? Also, the fundamental news supports a continuation of the current trend. This really reminds me of the action in July when the news turned bad and the market just looked the other way until just recently.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. Dinosaur Trader

    TR,

    Like I said, this rally doesn’t make sense… but sometimes, shorts cover on bad news. I’m just guessing until “the Fly” tells us what’s going on.

    -DT

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

    Danny, That is funny as shit. I’m pretty sure that word could get banned on this site. Wooo Wooo

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

    this is the lunar eclipse, makes no sense rally, the day before they shoot down the radioactive satellite, the market looks strong today, so hedge fund managers are forced to buy something, rally.

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

    Your lucky The Fly quit mrkcbill!

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

    Perhaps the lunar eclipse will turn the bulls fortunes around and rally this market till May. Who knows. We could rally to 13,000 on the Dow and still be below the downtrend line.

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

    Don’t you guys get it. The smarter people are covering their shorts. Chip stocks are looking great down here. Keep shorting if you will. All bad news is fucking baked in. Q’s will 60 before it breaks 40. Long BRCM,TSRA,STP and CROX.
    Do what you will but the retodd has warned you.

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

    The Fly is God

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

    I hope Cramer calls this the “bottom” again tonight. My shorts are taking a pounding.

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

    I will face you in the finals, Fly.

    My post Lenten clear headed-ness will enable me to pick the trade of a lifetime…my final pick, to defeat you, will be “Short America.”

    Or “Long Biscuits.” Same thing really.

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

    Jake-
    How’s that MOS short been treatin’ you lately?

    Don’t fuck with the farmer, or a hungry Junior Samples may show up at your doorstep with the whole cast of Hee Haw.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  27. Q4

    Fly:

    Get back to your fucking cubicle/time machine.

    The Boss

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

    Dawg, that “schnick-schnick” you hear is me locking and loading my BAR to cut fatass Junior Sample, Grandpa, Roy Evans and the whole cast of Hee-Haw (except the cuties in the tight cut offs) in half tomorrow.

    You’ve been warned.

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

    ^LOL @ Jake.

    I take it the “silence” on MOS, means you’ve got fertilizer in orifices where the sun don’t shine.

    Hee-Haw!

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

    Is it true that Ragin’ thinks Hee-Haw was a reality show?

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

    That’s it, I have had it and also quit!!!! I am sitting here at my office, decided to take a break and turned on Cramer. This is 3 fucking years later and he is still speaking slowly about “buy-and-homework” as though it is the first time he has mentioned it. I don’t think it was a repeat from 3 years ago – no, it’s the same ‘ole shit over and over and over and over. The speech pattern, spittle, booooyaaaa, skidaddy, mind numbing buttons……ahhhhhh. I just beat myself with my putter!!! Someone needs to make him watch one of his recent episodes and see if he can seriously conclude that there was something new to say. He cannot honestly think that people are this stupid to where he needs to say the same crap over and over and over and over. I think Cramer needs to do his homework and develop a new format with new material. Minus that, every reporter needs to attack him all at the same time. He is such a hyperactive fuck, that his head just may explode at that very moment. How long can this continue?

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

    I hate liver.

    So, I don’t eat it.

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

    Where did those big spikes in the SPY at 12 or so come from? Big up moves, no news that I could see. Who was buying? It really looked fishy to me–unnatural buying, like a PPT injection. Anybody have any ideas or insight into how that works, or am I dumb (or both)?

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

    Pros, I noticed the same thing, and came to similar conclusions.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  35. Dinosaur Trader

    pro,

    I too wondered what the fuck was going on. We concluded (over at my esteemed blog) that it was some French trader buying like a madman.

    -DT

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

    Not so simple friends. The fed notes were gamed – someone wqas bidding the brokeass bankers from the bell the Leh, bsc, ms, gs. Someone knew the content of the notes and knew how the fishlips on cable were going to spin it. This same someone was bidding the brokeass bankers – maybe the brokeasses themselves. For a piece of shit with monumental commercial RE exposure like leh to be up on an ugly bulders entiment release like today is a jack job. Additionally and I have said this before, the money is being pulled out of the jap and converted through the euro either in repos or straight exchange, dpending on where they want the amero that day. That money is being used to bid the market. If you do not believe it, then overlay the euro/jap and the DIA – it looks like one thick line.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  37. calvino

    Now look at the euro/jap and look at US futures.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  38. Hong Kong Bull

    The only thing I’ll be quitting, is getting drunk on Wednesday nights at Happy Valley races… at least until next Wednesday.

    Today I’ll be slapping myself in the back for selling my index puts yesterday (been trading puts and calls on the HSI and HSCEI very aggressively this week). However, I think I’ll be short again by the end of the day.
    Currently loading up on HKEX (0388.HK) puts (holding 4473.HK) as this dog is going down another 15% in the short term.
    I’m still begrudgingly holding on to China Mobile, but am constantly managing a decent hedge via warrants.

    So is helecopter Ben still slashing those rates?

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

    calvino – consider me lazy and uninformed.

    Where’s a good site for looking at what you are asking us to look at?

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

    Good riddance. You’re an asshole and will eventually go broke, which is what you deserve. What an obnoxious worthless prick you are.

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

    You call Fly an asshole and an obnoxious prick – while using flyeater as your posting name?

    Wow. Just wow.

    Don’t forget the mouthwash.

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