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
21,316 Blog Posts

Does This Mean the Secret Bidding War for BSC is Over?

Boy, do I feel like a fucking red nosed clown, for covering my [[BSC]] short on Friday. That fucker is headed for severe beat-down territory and I’m not short. Unfuckingbelievable.

As I cover my shorts, and they trade lower, I will be very upset. Naturally, I realize it’s impossible to catch a bottom or a top; I still want to do it—like everyone else.

Today, the ag stocks are being raped, as [[MON]] gets uprooted and beaten senseless. By the way, I’m short MON from $110.

As of now, I still have meaningful short positions, and a fuckload of cash. Instead of doing a bunch of clown trades, like some of you fucktards, “The Fly” will remain calm and patient, while waiting for the next trade to come to him.

Bottom line: aside from a few pockets of strength, the market will go lower, thanks to the rotten behavior of the banks and brokerages.

Remember, nothing scares a market more than insolvency.

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17 comments

  1. Juice

    Is that a helicopter I hear yonder, or just brain drain spin?

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  2. Gunners

    tell me about it fly. i left another 150% on the table on my BSC puts. can’t go poor booking profits though. death to LEH

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  3. Woodshedder

    Its obvious.

    You’ve all handled BSC’s ass pennies.

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  4. jeff

    Fly, you holding strong SKF?

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  5. MasterDebater

    Actually, the thing that really scares the market is ‘Carnies. Circus folk. Nomads, you know. Smell like cabbage. Small hands.’

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  6. The Fly

    Itching to sell the rest of my SKF.

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  7. Employee8

    Wood,

    Short MOO …. you have a target for the downside?

    Thanks, #8

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  8. big mike

    anybody watching lehman as well?

    wow…i covered half at 43.50, now this shit is at 43

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  9. Woodshedder

    8- the powers that be are watching.

    I can’t pull up charts right now. I’ll look at it this evening.

    Key word is short. Probably the best way to be, for another day or so.

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  10. TraderCaddy

    I haven’t heard so much rumor mongering since the ’87 crash. Out of control. Anyway, buying SMH on dips and selling it on upticks.
    IMO the rumors are bullshit. Watch KRE (Regional Bank ETF). It’s positive. If their was a liquidity problem it would be crashing.

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  11. Employee8

    Thanks …. don’t get caught now …. later!

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  12. TraderCaddy

    That Lewis guy from Travistock Corp. who made the big investment in BSC around $90 ain’t going to allow it to bleed to death. He is no schmuck.

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  13. Big Mike

    Hey Fly,

    Are you selling SMN before the Fed rate cuts on next Tuesday? Whats your exit point?

    I have a 200 Moving average at 47.44, for a partial exit point.

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  14. Cok D

    I have some SMN and I think it could take a temporary hit with a rate cut, but the more and more rate cuts the less effect it will have I think. Continuing to cut rates will lose its “save the day” factor a little bit more each time, losing credibility…. however, I will defer to The Fly

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  15. gappingandyapping
    gappingandyapping

    Look you fucks, with oil at 107 we are fucking fucked. Anything that depends on oil is going to near zero with a capital 0. Zero. Now myself I think this is unsustainable, I am looking to buy DCR on the way down or DUG. Fuck oil, fuck Eric Bolling.

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  16. nncoco

    Nice call on SMN. Getting ready to sell my USO.

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  17. BOTD

    SMN = Sell MON Now!

    we’re back from the 52 low dipper.

    nice!

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