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

Fly Buys: SMN, SRS

I bought 2,000 [[SRS]] @ $107.89 and 3,000 [[SMN]] @ $39.27.

Disclaimer: If you buy the above stock because of this post, Bernanke will cut rates by 200 bps. And, you may lose money.

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26 comments

  1. .75

    .75

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  2. Helicopter Ben

    I wanted to cut the whole 300, but the others wouldn’t let me.

    I mean…why not at this point, right?

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  3. gappingandyapping
    gappingandyapping

    DEATH HAS COME

    How the fuck do you only do 3/4. Fucking idiot.

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  4. Employee8

    Fed sees inflation moderating (???) …. can’t be good news for commodities …. short the ag and metals … The Fly wins again!!!

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  5. Helicopter Ben

    Recent information indicates that the outlook for economic activity has weakened further. Growth in consumer spending has slowed and labor markets have softened. Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters.

    Inflation has been elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully.

    Today’s policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity. However, downside risks to growth remain. The Committee will act in a timely manner as needed to promote sustainable economic growth and price stability.

    Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; Gary H. Stern; and Kevin M. Warsh. Voting against were Richard W. Fisher and Charles I. Plosser, who preferred less aggressive action at this meeting.

    In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 2-1/2 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, and San Francisco.

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  6. minifly

    lol look at SMN.. it’s the Fly effect!

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  7. Fly wins again!

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  8. larry

    Alias: BPOE

    I just woke up from a nap. Do the word margin calls mean anything to you ?

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  9. Yeshua

    Juice:

    No more bulls, eh?

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  10. wow

    Bill Gross officially is the Asshat of the Week. In virtually the same breath of demanding the Government start BUYING worthless mortgages to prop up bubble prices that NO ONE CAN afford he tells us how PIMPCO is snapping up 30 years because once the govt. does start buying up mortgages, they’ll be one hot tamale.

    You sir, are a douchebag.

    If it happens, I will start up the class action lawsuits demanding that the Government buy all that Enron and QualComm stock from back in the day.

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  11. BanD

    He’s fuckin right… wait an hour. Look, melting up.

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  12. minifly

    Flex capacitor is fixed!

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  13. Helicopter Ben

    Apparently only 50 bps were priced in…..

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  14. JakeGint

    Major

    League

    Asshattery.

    ____________

    That’s like… “George Steinbrenner Sized.”

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  15. larry

    Alias: BPOE

    I haven’t seen a Wild Wild West short squeeze like this in a long time. Mother Market must be having her period!!!

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  16. CAP

    Right now I am worried about the state of Flys servant/trader. Can you imagine how many monitors Fly must have tossed at him in the last 20 minutes ?

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  17. JakeGint

    All I know is I have a lot easier Irish temper than Fly’s (his is excacerbated by Italianacity) and I’ve already murdered three of my employees, and one straggler from down the hall who was having coffee (poor sot, wrong place wrong time).

    The hard way too, via strangulation.

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  18. JakeGint

    Bare handed.

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  19. Yeshua

    I thought The Fly has been treating him more gently…?

    Jake:
    Can I come work for you?

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  20. JakeGint

    No pun intended.

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  21. Asshat Dip Buyer
    Asshat Dip Buyer

    Anyone still holding them red-hot skiffles (SKF)?

    Just curious.

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  22. minifly

    buy alert: SMN @ 38.3… the retards price in a point cut and rallying on unimpressive volume is weird, but of course “astrologer” pointed to the fact that some conjunct of Jupiters O ring got twisted romantically with my venus, and therefore it represented by the “hero” ben coming to the rescue (at least in retards eyes)…
    Pretty soon people will wake up, and go… “wait a minute, I’m retarded, and they’ll figure it out, but for now we’re rallying. Free money for everyone says Helicopter Ben!
    Too bad things are over his head now, but maybe there’s a retarded reaction from his Jan Cuts and things are 3 months behind in the typical retard fashion

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  23. minifly

    Note to self: By gold plated asshat so you can crown someone’s ass king of all asshats, and then sell it when the market finally realizes what asshats they are

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  24. contrarian daytrader
    contrarian daytrader

    thanks for the tip fly, I went short at $40 SMN… SHORT THE SHORT after the “fly effect”(or the Ben Bernanke confusion effect) and bought back at 38.25

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  25. JakeGint

    Asshat — Still holding Skiffles, but I sold the March 135 calls… get this … for $7.80 on Friday.

    So I’m okay with this plungo. Also sold the FXP calls as well, but covered some of them too early yesterday afternoon.

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  26. Canvas Prints

    You are the brick! Reading stuff like this written in the way like this is a great pleasure for me.

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