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
21,396 Blog Posts

Late Night Thought

[[GS]] will get what they deserve.

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60 comments

  1. ottnott

    Surely not, because that would mean:
    GS, sliding pants down to ankles
    Cramer, slathering his scalp with a quality lubricant
    GS, slowy bending down and grasping ankles
    Cramer, slowly picking up speed while running at GS from behind
    GS, bracing for impact
    Cramer, disappearing except for his toes
    GS, eyes bulging and croaking out a strained “Booyah”

    If such a thing were possible, it would surely be a reality show by now.

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  2. globalx124

    Indeed they will!!

    Soap on a Rope!!

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  3. uhm

    A gold-plated rocketship for each member of the executive suite?
    No wait. That would be silly and wasteful.
    A gold-plated rocketship for each member of the executive suite, paid for with taxpayer dollars.
    Sweet.

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  4. uhm

    PS: Fly, how come you haven’t talked about China’s state-sanctioned slow motion market crash? Down almost another 5% today, and the H-shares are moving at a similar clip.

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  5. Q4

    … a 10% day up. Final Four

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  6. Danny

    I love st. patty’s day. so much vagine.

    GS will get what they deserve. those assholes never lose…like the patriots…a prophecy foretold.

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  7. Gio

    Note to self… “safe haven” plays are for idiots.

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  8. Hong Kong Bull

    A lot of buying action over here today. Not all short covering either, just your run-of-the-mill lead up to a US fed rate cut.
    I took out some index calls just before lunch (when futures hit 20,500) and am up about 20% on each. Greedily, I held them for an overnight leg up thanks to Ben and his PPT cronies.

    If we get 100 points, then tomorrow will be a 7% up day over here. Followed of course, by a 20% down month in April 🙂

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  9. Hong Kong Bull

    @uhm, watch China tomorrow.

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  10. billybull

    Wow GS can do no wrong. ever.

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  11. Alvari40

    GS, PPI, FED – triple whammy. Serious money will come into the market if all three hit their mark today.

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  12. Alvari40

    LEH! Ahhhhhhh, holy shit.

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  13. pablodpt

    Cramer, Fly´s best friend, is now part of the circus. Who says Cramer follows GS guidelines?

    http://www.businessandmedia.org/articles/2008/20080317110946.aspx

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  14. Alvari40

    Any serious investor/trader knows what Jim is – a charlatan. I must say, it takes no act of genius to be able to pick out misstatements or flat out lies uttered by the egomaniac. The amazement to me is not what he says, but that he has a forum provided by others to say it. He truely is one that I would have expected to be a blogger and not on cable TV. Why CNBC does not let him go to Fox is beyond me. They should package him with Greasy Gasparino and undertake the trade of the century. Bottom line (as Jim is fond of saying) is that we all know how difficult stock picking is when we have this kind of market. they would take him off the air if he said to go into cash for the past 5 months (which would have been the correct advice). However, his ego – like Spitzer’s – will be his ultimate undoing.

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  15. Shorty

    GS and LEH beat estimates, with a fed cut today… +2-3%?

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  16. Mushroom Stamp

    Don’t blame Cramer for anything. He did not cause this crysis or make anyone buy stock, people who base their decisions on Jim Cramer are retarded and deserve to lose money.

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  17. calvino

    Art Cashin just called out all of you bears for the pussies that you are. Guess I feel shamed since I was going to cover at the open until I heard Art. My shorts are not in the wild beta variety today, and it appears that much damage has already been done pre-market. Going to wait and see how the spike works this morn before covering.

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  18. Alvari40

    Mushroom,

    Don’t blame Cramer? Fuck that. He is a ridiculous idiot. Anyone that follows his advice is an idiot – I agree. Also, anyone that defends him is a stupid fuck. No offense – it’s the way I talk. Gotta watch those words.

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  19. alphadawgg

    From Bloomberg:
    “Banks and brokers have taken more than $195 billion in writedowns and credit losses on securities linked to subprime mortgages since the start of 2007, eroding investor trust in financial institutions. Bear Stearns, the smallest of the five biggest U.S. securities firms, lost the ability to finance itself last week as lenders pulled their funding.”

    It will be $400 B before this is over.

    The glass is half full or half empty, depending on your outlook.

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  20. JakeGint

    Also, anyone that (Cramer) him is a stupid fuck.

    Where’n hell would ya get that idea?

    He did not cause this crysis or…

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  21. JakeGint

    Don’t mind me today, I plan to be extraordinarily cranky.

    I take exception to my own tax payments being used against me to save rotten fucks.

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  22. JakeGint

    Translation:

    I should have covered my LEH puts yesterday when they were deep in the money.

    Stoopid! (bang)

    Stoopid! (bang)

    Stoopid! (bang)

    (Anyone who remembers the Bugs Bunny toon with the Sherriff of Nottingham can take my above reference)

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  23. JakeGint

    Interesting, LEH coming off the premarket highs a bit here.

    Mebbe wait and see….

    Ah, no… scratch that, coming back.

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  24. calvino

    The cows ran amuck out of the gate. Did not cover anything, not being able to outrun a cow on musk.

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  25. Gunners

    LEH will see $35 today at some point

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  26. boca

    and to think I was feeling stupid last night for selling my LEH puts in a day trade yesterday….

    however, now I feel stupid for holding onto my MS puts.

    Thank God I never got a fill on my buy order of GS puts.

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  27. Abc

    Dudes I was wrong on GME. Earnings and guidance were “ok” not great. So I puked it this morning, made 2.70 points in one day, I wish I could be wrong like that every time. So throw your tomatoes, ABC was wrong but a made a profit.

    Looks like my S&P prediction on track though.

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  28. calvino

    calvino sell 3 shares of ECH, 2 of LVS and 1 of MGM

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  29. Kiwin

    If the FED decides to give something less than a 100 bps cut will we drop hard?

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  30. JakeGint

    How can you argue shorting something called “ECH??”

    Calls to mind the early “Mad Magazine” from the fifties.

    There was genius in those pages.

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  31. JakeGint

    When is the Fed going to launch the helicopter, btw? 2 pm again?

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  32. Helicopter Ben

    I’m tired of being a bear….

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  33. Positively Geared (Hong Kong Bull)

    Check the action in London. FTSE going bananas!

    Old Benny boy better come to the party, I’ll be trying to get to sleep tonight, leveraged up to my eyeballs in anticipation of a big follow through day here tomorrow (HK). Bought index Call warrants (and fucking lots of them) before lunch today at support, up over 20% at close, but greed kept me long so that fucker better pull a rabbit out of his arse tonight! 🙂

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  34. Kiwin

    I believe it is at 2:30 Jake.

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  35. WallStreetLurker
    WallStreetLurker

    FOMC announcement at 2:15 PM EST

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  36. Juice

    The Fed will not give 100. Better long entries & short covers await tomorrow.

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  37. Oxy Moron

    LEH not going to zero after all. So sorry.

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  38. calvino

    2:15

    ECH.. Chile is not getting the power it needs. It’s in the buzz, but besides the bs, a miner actually bought a DeWind turbine to try to get power to his lifts a few months ago. Chile = copper, shorting PCU scares me, so I like this a little more.

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  39. gappingandyapping
    gappingandyapping

    DT: Can I get some credit for my GS buy call yesterday morning at 141 🙂

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  40. Dinosaur Trader

    Gappy,

    Unbelievable call on GS yesterday! I can’t believe this stuff… now GS upgrades LEH and MS.

    This market smells funny.

    -DT

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  41. ProfitableTrader
    ProfitableTrader

    3 month LIBOR is 2.54. This is closely linked with Fed Funds rate. Last rate cut LIBOR was at 3% the day before the cut. Don’t know if we are going to get a full point today.

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  42. JakeGint

    “Candled” does not accurately describe the condition of my balls on LEH right now.

    More like “candelabra’d.”

    Bust out the dreidl, because it’s fucking early Hannukah down there, boys.

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  43. Gunners

    This rally is something fierce

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  44. pablodpt

    calvino

    Ft Alphaville has this article on the upcoming commodity crash
    http://ftalphaville.ft.com/blog/2008/03/18/11652/commodities-the-big-fall-is-coming/

    I know there are expert traders posting here who will agree with the difficult future for copper prices.
    The Fly like other wise investors have let us know of a tough second semester for commodities.
    It seems that the crisis has speed things up.
    What do you think?

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  45. Juice

    The FIX is in … never underestimate the PPT in the short run particularly after the markets have been tied to the whippin post for 5 months.

    I say, get out of the way of the bulls tossing a party if you are a bear.

    My guess, we sell off after fed time into tomorrow but the bulls will be back.

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  46. calvino

    pablo.. I am not a metals trader, but if you want to short commodities, then copper is the one that sums up all of them. I want to be short Chile/copper because of a specific situation. In fact this might be hugely bullish for copper. I can not make a call on commodities crashing because I still see huge amounts of excess liquidity everywhere. well not in bsc. MY position is small, and I will build into it if the trade goes with me.

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  47. uhm

    A possible tell was that the Fed extended the new loan facility to the ibanks… AFTER BSC WENT DOWN.
    BSC was the fall guy. The rest of the big banks will likely do just fine.
    This was all probably determined in back room deals between gov and bank execs?

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  48. WhoMe?

    Bearshitters have vaginas

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  49. Breakfast Meat

    The Patriots is a great analogy. Cheaters always win, until they don’t. Shoulda kicked the field goal when you had the chance. Bwahaha!! With idiots like Paulson at the helm you just know there is going to be a similar mistake made when the “big one” is on the line. What should we do coach? Punt.

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  50. calvino

    Jakey, why are you fighting the incarnation of the devil in the guise of Fuld? Have you renounced the Lord and the works of the Saints in hopes of defeating Beelzebub? His hench gargoyle Ara Hovnanian is weaker in his wickedness and will render himself unto your shorts when the crack pipe goes to empty – soon.

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  51. JakeGint

    Jesu, I hopeth it be so.

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  52. Juice

    prediction – the Fly will announce his 2nd retirement, shortly.

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  53. gappingandyapping
    gappingandyapping

    I am out on GS now at 171.

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  54. Gunners

    nice work gapping.

    looks like we might ease off the highs here for a little, until the fed

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  55. Yeshua

    Fear not, Jake.

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  56. BOOMER

    I wonder if we rally into the visa IPO? Member banks are desperate for this IPO to work. Would relieve a lot of pressure…jus a thought…

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  57. Employee8

    calvino,

    That guy Hovanian is playing George Washington in the HBO series “John Adams”, right?

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  58. pablodpt

    calvino
    thank you very much for you wise advise.

    Yes, Chile is having plenty of energy problems

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  59. m

    cramer is a fool, but it isn’t his fault that people lost money.. at least the money that people did lost gave them a valuable lesson…
    The people who held on to bear sterns cause cramer said to, or the people that buy stupid crap because cramer said to are fools.

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