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
22,445 Blog Posts

At Least China is Dumping Out

Look very closely at the shares of CHL and LFC, for they are about to die a terrible death. Seriously, CHL is fucked, due to new government regulations forcing them into the slow growing land line business.

With regards to LFC, it is a ticking hydrogen bomb. They have way too much exposure to the Chinese stock market, which has been blown out—over the last quarter. With that being said, FXP is poised to run. Run like the Hamburglar escaping the grips of McDonald’s security apparatus.

Aside from sinking countries, “The Fly” is enjoying large percentage gains in QTWW and LEI. Quite honestly, I have zero edge on these stocks. They’re just running.

The funny shit is, my “edge” on FTK was an ax to my head, while my lack of insight into both QTWW and LEI led to bountiful gains. Sometimes the market makes no sense. If it did, all of you E-Trade morons, executing trades in Hong Kong, would be rich. But you’re not. You’re just reading the coherent rantings of a maniacal genius.

After looking at UBS and the general tone of things, I’ve decided to hold back on any buying, with the exception of obligatory averaging down in FTK. Instead, I will look to borrow more shares of FED and sell more POT.

Finally, on this dip, PCZ is good for a bounce.

NOTE: With ag getting killed, ethanol stocks may bounce too, providing corn trades lower.

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44 comments

  1. PharmPhucker

    Fly – you phucktard. Corn ain’t going lower. Just ain’t gonna happen. My neighbors couldn’t plant shit. Fields too wet. Me, I used my genius and dragged my plow around with a jet ski. Now, I staring at corn fields looking like gold and gonna make me a gazillion dollars. So PHUCK you. Corn’ll be so damn expensive that you’ll need to trade me your phucking house to eat beef, drive your ethanol powered auto, and feed your chickens.

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  2. The Fly

    Watch corn go lower in amazement. You will say “How could this be, my retard neighbors’ fields are too wet?”

    By the time you figure it out, it will be too late. Your fucking farm will be foreclosed and some NYC asshole, who calls himself “Senor Tropicana,” will be taking over, bringing with him an army of illegal Mexicans.

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  3. Big Mike

    I’m telling you, the best way to play a downside to oil is to short the fuck out of Solar stocks.

    FXP is gold; I’m going to reload again if we break 200MA.

    I’m covering my DRYS short.

    I think Ags are done here… especially Mosaic.

    Fuck Ethanol; I hate corn, it gets stuck to my teeth every time I eat it.

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  4. The Fly

    DRYS is a retard stock. You have to have no brain to trade it.

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  5. CubsRock

    DRYS sitting at 50% retracement, nice place to cover Mike.

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  6. Big Mike

    Don’t hate the knee grow; hate the game…

    I told you to short it during earnings…at $115; If you bought some $90 puts, you would have near quintuple your money by now.

    Class dismissed…

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  7. The Fly

    Mike:

    Don’t use that sort of language here, as clever as you may think you are.

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  8. Big Mike

    Apologies if offended anyone…

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  9. PharmPhucker

    Ain’t no city Phucker buying my farm. They can’t foreclose when there ain’t no mortgage. Long – A debt free life. Short – Phuckers who borrow money.

    So, tell “Senor Tropicana” to stay at his trading turrent, so this dumbphuck farmer can continue to pick his pockets in the corn pits. Corn’s going higher.

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  10. The Fly

    Hence, why you call yourself “Big Mike.”

    “Little Mike” would have retorted much differently.

    Look to “Scum Bucket” or “Pharmfucker” as examples of “Little Mike” syndrome.

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  11. Mr. Obvious

    Do bombs still tick?

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  12. The Fly

    Corn trades lower, with the equity of your fucking “pharm.”

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  13. The Fly

    Hydrogen bombs tick.

    Yes.

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  14. Ed

    Fly,
    You’re right on shorting financials, FXP, Ag plays..but ur dead wrong on Ethanol..Ethanol is not a viable fuel option..it corrodes pipelines..amongst other reasons why ethanol cos are value traps.

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  15. CubsRock

    SMN, the reason buy on the dips was coined.

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  16. The Fly

    Ed:

    I am not entrenched in my ethanol thesis. However, there is no alternative to ethanol, is there?

    We’re not going back to MBTE. So, in the meantime, the ethanol stocks can run, providing corn trades lower. They all have huge short positions.

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  17. Scum Bucket

    Keep averaging down Fly, it worked great during the dot-bomb fiasco. Breehee!

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  18. Granpa

    Fly, “pharm”, phunny!

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  19. The Fly

    Fuck off Scum Bucket.

    I did the bulk of my buying in the high 16’s, low 17’s.

    I’m hardly down.

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  20. Scum Bucket

    Anyone who listens to fly is an idiot:

    May 27 (Reuters) – Drilling equipment maker Flotek Industries Inc (FTK.N: Quote, Profile, Research) said it lowered its 2008 earnings outlook after first-quarter results fell short of its expectations, sending its shares down as much as 19 percent.

    The company said it expects 2008 earnings of $1.12 to $1.22 per share, compared with its previous forecast of $1.50 to $1.60 per share.

    Analysts on average were expecting earnings of $1.27 a share, according to Reuters Estimates.

    His one big pick, in the toilet!

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  21. The Fly

    Go milk a bull.

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  22. alphadawgg

    One thing to consider, and pharmfucker might already know this, is that the solid byproduct from ethanol production can be used to feed cattle.

    In fact, it has a 28% protein content, whereas, corn has only a 7% protein content. So, in addition to cashing ethanol checks, farmers love the byproduct as cattle feed.

    Still wouldn’t touch ethanol stocks, though.

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  23. boca

    Gossip is that Pharmphucker has a date on Friday night with the can of creamed corn in his pantry.

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  24. alphadawgg

    shit boca, you’re getting nasty!

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  25. The Burger King
    The Burger King

    “Run like the Hamburglar escaping the grips of McDonald’s security apparatus”…we all know where fly took the family out to eat over the long weekend.

    Traitor.

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  26. boca

    I’m sorry Alphadawgg, it was just a joke after reading his many pharm comments.

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  27. Scum Bucket

    NEW YORK (AP) — A director of Flotek Industries Inc., which provides drilling services to the energy sector, sold 9,000 shares of common stock, according to a Securities and Exchange Commission filing Friday.

    In a Form 4 filed with the SEC, John Chisholm reported he sold the shares Wednesday for $16.82 apiece…

    And Fly promptly bought them.

    BREEHEEHEE!! YOU’RE KILLING ME FLY!!

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  28. gappingandyapping
    gappingandyapping

    Watch STLD closely, should it break support its all down hill to the 100 day at 32.50.

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  29. PharmPhucker

    I tried milking a bull once. Was drunk on moonshine. When I pulled that bull’s balls … well, let’s just say he liked it about as much as Fly liked buying FTK last week.

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  30. boca

    Not to change the subject away from such fascinating pursuits, but…

    I have the strong intuitive feeling that this is the calm before the storm in the market. It doesn’t “feel” right today for the first day back from a holiday, maybe volume is too light, still too complacent? I don’t know, but I’m not initiating any new longs right now.

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  31. Jimmy Cracked Creamed Corn
    Jimmy Cracked Creamed Corn

    What ever happened to Calvino and Juice and a bunch of other guys I can’t remember names…

    And Jake. Where’s jake?

    What’s going on? Did their ID’s get foreclosed on? Why am I screaming? Will someone answer the damn phone? Who’s on first?

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  32. BOOMER

    No creamed corn!

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  33. The Game is Rigged
    The Game is Rigged

    Ethanol pipleines are a comin’. Dont bet against The Fly.

    http://www.cattlenetwork.com/Content.asp?ContentID=222459

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  34. BBW Creamed Corn Chuggers
    BBW Creamed Corn Chuggers

    Hell yes, creamed corn!

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  35. Scum Bucket

    flotek volume explodes on a cliff dive!

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  36. WorkingMan

    Gapping

    I’m on STLD as well, seeing an inverse H and S…but having a tough time locking down my breakaway point/final resistance?

    I think we’re right on it…but usually I’m more clear.

    Thoughts?

    WM

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  37. Woodshedder

    Working Man, I think STLD will get a bounce at this level. I would wait for a solid break of 34 first before shorting.

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  38. gappingandyapping
    gappingandyapping

    I think STLD is already showing signs of breaking down, it failed on the breakout attempt and is once again testing support, I expect it will break through as commodities are sold off. Note that X is selling off as well. I am heavily short STLD from 36.50.

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  39. Woodshedder

    Gapping, I don’t disagree with you. I just think that if one is not short it yet, wait a couple of days.

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  40. WorkingMan

    Gapping and Woodshedder —

    Appreciate the thoughts…

    Anticipating/Playing the breakout is one of my least favorite moves — much prefer to observe the breakout and wait to see if she revisits previous support…and if she even breathes wrong — jump in full guns.

    Mantra: Let the trade come to me.

    So we’ll see — thanks again fellas.

    WM

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  41. Woodshedder

    WM, I also prefer to wait for the breakout/breakdown, and then get long/short on a test of the breakout level.

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  42. gappingandyapping
    gappingandyapping

    Wood: Agreed, if your not short yet wait for the breakdown.

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  43. nullpointer

    its because they figured it out

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