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
23,404 Blog Posts

Holy Shit

Are my eyes deceiving me? Oil is up more than 5 bucks now. On this move, I suspect the market will weaken. If it doesn’t today, it will tomorrow. Nonetheless, energy related stocks should “retard up,” while everything else burns to a crispy cinder.

Right now, [[FTK]], [[RIG]], [[ARD]], [[PCZ]] and [[UPL]] are screaming buys, amongst many others in the space.

For a dice roll, take a look at [[PZE]], [[LEI]], [[END]], [[XCO]], [[WRES]] and [[TXCO]].

This market is crazier than a hungry lion on the moon.

NOTE: If you want to forgo all the noise and just get long crude, take a look at [[DYY]], another 200% upside product.

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24 comments

  1. Woodshedder

    Who got donkey punched?

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  2. haileris

    Market is on crack today. All my correlations are breaking down. The only pattern that I’m catching is a continuation of the short homebuilders and long realestate (which also makes no sense).

    Is there any reason for oil moving up like this?

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  3. Aris

    this is batshit crazy. oil up, stocks up, commodities up.

    my NUE just stormed a vietnamese village today with flame throwers.

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  4. Hattery

    Took some profits on short USO thanks to your post. But I guess I got donkey punched a little. But meh, still up quite a bit since I called what I will beleive to be a top until proven otherwize. I think oil will come back and try again to break the trend. If oil breaks it’s old highs, I’ll definately be a buyer and abandon my view, but so far it’s been mildly profitable, and names I have owned, like various Bakken plays (CLR my largest position) have been dominating.
    I guess we’ll see if oil cracks new highs or not.

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  5. ottnott

    Money is rotating out of baseball cards into stocks and commodities.

    It won’t last more than a few years.

    When money rotated out of Beanie Babies in the late 1990s, the bubble it created eventually popped.

    I’m bearish until I start seeing collections of vintage Tupperware liquidated.

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  6. haileris

    DYY seems to have less volume than OTCBB stocks.

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  7. gappingandyapping
    gappingandyapping

    Bears are being boiled alive! FXP to zero, SMN to zero, DUG to zero. Put me out of my misery. QID to zero too. My stop is at 36.49, if that trips pull the fucking bandaid and get me out of this world.

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  8. TraderCaddy

    Always interesting to see a big rally and visa(vice) versa the day before a jobs report. No fear again.

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  9. alphadawgg

    QLD just gave us a buy signal @ 3:09 pm. Weekly momentum just went positive.

    Sorry bearshitters.

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  10. Pudfucker

    They’re selling treasurys and buying stocks even with crude ripping $5. I view that as incredibly bullish.

    The 5% correction is over.

    Bearshitters have tiny testicles.

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  11. Anton Chigur

    DYY could be twitchier here than Amy Winehouse in a Tijuana pharmacy with a pocket full of prescription pads.

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  12. sniper6

    Yeah, this is fucking great, a real nine point five on the boner meter. I can’t wait to lose it all back tomorrow. What is hamburger? It’s chopped steak, stupid! Except today it’s chopped bear.

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  13. Jakegint

    ‘Splain this one to me, Loosey.

    All the banks I’m following (and noted, it’s not “all the banks”) are flat to down, and yet Skiffles is getting the homo hammer anyway?

    Wassup wit dat?

    Who is at the bottom of this anti-Skiffelian behaviour?(sic)?

    _

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  14. Aris

    i have no idea what the hell is going on. maybe if enough treasury money gets irritated, they’ll float this thing upward for a little while.

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  15. The Fly

    SKF is little changes, on a percentage basis.

    Here are the components.

    AMER INTL GROUP INC AIG 4.27
    BK OF AMERICA CP BAC 7.3
    BANK OF NY MELLON CP BK 2.04
    CITIGROUP INC C 4.99
    Djusfn Swaps N/A 6.5
    GOLDMAN SACHS GRP GS 2.51
    JP MORGAN CHASE CO JPM 5.62
    US BANCORP USB 2.26
    WACHOVIA CP WB 2.49
    WELLS FARGO & CO NEW WFC 3.81

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  16. chivasontherocks
    chivasontherocks

    the sad thing is, that when this thing is finally over, and is going to take time and higher prices, the shorts might not make any money because they might not be able to collect.

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  17. nullpointer

    (LEH 34.09, +2.69, +8.6%)

    Some of Lehman Brothers’ counterparties are limiting trading with the brokerage firm because of persistent concerns about its capital and leverage and a recent credit rating downgrade, Brad Hintz, an analyst at Bernstein Research, said on Thursday.

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  18. Sir Douchebag

    Sorry about the deballing on FXP.

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  19. Jakegint

    Sorry about the deballing from that “fence jumping” accident in your youth.

    _________

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  20. Jakegint

    Ah, but what a great time to be in the money management bidness.

    Everybody running around and screaming “Hep us! Hep us! Weee doan knoowwwww!!”

    If you can only keep a straight face and project a modicum of reserve and calm, you could sit outside your shop with a basket and people would just dump their Benjamins into it whilst thanking you.

    _____________

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  21. chivasontherocks
    chivasontherocks

    how true, how true.

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  22. Jakegint

    ^^ Good, so it’s decided then? ^^

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  23. chivasontherocks
    chivasontherocks

    yes

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  24. Hammer

    Are we over thinking this? Everything on the planet costs more…shouldn’t stocks. Obvious, no?

    Off to drink dirty lake water.

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