Some new shoe is about to drop. I’m not sure if its [[LEH]], [[MER]], [[MS]], [[GS]] or some other broken financial stock. One thing I am certain of is pending shoe droppage. Write it down.
With the markets scaling back down to 12,000, expect the bears to brazenly rip apart stocks, while exclaiming: “we must retest the lows.”
That’s just a catchy phrase. What they really mean: We’re fucked.
A confluence of negative events has reemerged, simultaneously. The FED, once again, are talking hawkish, fearing the grip of runaway inflation. The credit crunch is as bad as ever. The threat of another big broker folding tent looms. Oil and natural gas prices are soaring, as if the last drop of oil has been sold to some fucktard in Beijing. The Asian markets are shattered. And, we have goat crazed prices at the local grocery store, all thanks to a retard currency and “global growth.”
In my opinion, the charade that Lehman put on for Wall Street last quarter was the number one reason why the markets rallied. People thought “the worst was behind us.” We had old men, like Vince Farrell, go on CNBC and declare the “bottom.” Everyone was joyful, with coke on the desk and viagra in their pockets.
Until David Einhorn shook the banana tree at LEH, demanding clarity.
As a result, we got clarity and it isn’t pretty.
Again, in my opinion, LEH was not being exactly honest, with regards to their balance sheet. Because of this, the Armageddon trade is back on the front burner.
How does one play this?
Well, for one, you must have hedges. Personally, I have a great number of short positions, with energy stocks as my hedge.
Despite the inefficiencies of [[SRS]], which HollyWood pointed out, I like it here. If SRS doesn’t float your Chevy, sell short [[IYR]].
Also, there are a variety of banks on the west coast and mid-west worth shooting at. As you know, I am short [[FED]]. Other banks on my doom list include: [[FHN]], [[CORS]], [[DSL]], [[WM]], [[MTB]], [[LAZ]], [[COWN]], [[WTFC]], [[BBT]], [[SNV]], [[WL]], [[CATY]], just to name a few.
Over the next day or two, “The Fly” will pluck another fucked bank and make it a “Reverse Horseman,” if I may be so bold.
The Godly thing about iBC is that there are so many capable investors, who offer sage advice. Do yourself a favor, fuckface, start listening more and talk less.If you enjoy the content at iBankCoin, please follow us on Twitter
Here’s a story…
The Fly was going on and on about FED for months, and I thought “let’s see what this asshole can do” and purchased 10k worth of FED Puts…I’m up over 250% on that trade.
As much as I hate to say it…he’s been on fire lately; except that ethanol shit.
What about the Beige Book at 2 today? Any surprises you seen with the time machine?
what do you think of shorting RKH, I couldn’t get a borrow on FED so I shorted RKH to go along with my existing shorts on MS, MER, FNMA, C and all those other triple turds with flies.
Check out the nastty chart of MI. GOING DOWN
I bough FEDRE’s at under $2.50. Will sell the rest today.
But keeping my FEDUW’s.
As much as I love my FITB short, I must say that MI may get my “horseman vote.”
ESPECIALLY if it can find the testosterone to get back to $20.50 again.
If the above happens, open up with all 105mm howitzers ablaze.
The new shoe is already priced in, buy one get one free.
I closed out my ethanol trade last week.
Why do I want to buy DRYS? Damn it. I am a perma bull asshat dip buyer. Arg. Stop me, someone.
URE is ultra long real estate, short that
Boomer, no offence[sic], but why don’t you read my iBC Machine updates.
Like the one I posted last night.
This is like, the 20th time in a row it has accurately predicted the days unfoldings.
I could not have been more clear. A down day today means something significant, there should be no buys.
re: DRYS. This seems to be the level where the last bull run took off on 5/1.
Thanks Danny. I read them. Just thinking out loud. I’m not buying shit.
I understand, and was only trying to minimally bust your balls.
Here’s the thing to remember about the machine: it’s correct.
Things aren’t donned the iBC moniker if they are incorrect.
It interprets the days, weeks, and months events such that I am able to parse the sentiment very accurately.
That’s why it seems like I am able to guess things like “raise cash on tomorrow’s bounce.” I don’t guess with the machine — it’s like reading a book. You don’t guess the story, it is simply read and understood.
I make mistakes just like anyone, but I rarely if never miss a signal change.
Yesterday I warned of the signal change, today it manifested, and now the change has occurred.
The Machine is why I am so frequently on the right side of the trade.
Hoots, you still short oil fucker?
hey fly, what do you think of these regional etfs?
IAT, RKH, KRE
Which one do you like to short the most?
Wish there was a “ultra reverse horseman ETF” both long and short so I could short the long, or short the short, or something.
The charts speak loud and clear. Today the bears will win even if Beige Book seems optimistic. Do not expect any bounce because the inflation concerns wont be denied this time and the interest rate hike by India will loom on alot of dip buying investors.
pesimistic beige book yeah!!!
Things arenâ€™t donned the iBC moniker if they are incorrect.
Buy the banks, damnit !
Who’s up on the day, eh?
I have one word for you son – Plastic!
Shoes that is.
Ugly plastic shoes : Go fuck yourself ! You must be Ron Snyder. CROX are garbage. Ugliest shit ever. Your company will file BK in 12 months or less. Now Fuck OFF !
Where in the hell is Zombie?
Fly is God!
Go eat some sword fish fucker.
Which reminds me, anyone watched that “zombie stripper”?…hilarious
Who gives a shit how ugly I am. I am going up in a shit tape. Money is flowing to the safety of ugly, so fuck off chowderhead.
Watch & learn, how to make money.
Internet fuckfaces, rejoice. Never bet against the Fly’s time machine. USO, fuck yeah.
Dividend cuts from the banker-brokers will add more fuel to the fire.
Aren’t CROCs made out of plastic? (PCCR) Isn’t it made from oil? Your stock is going to the shitter.
mrkcbill said Zombie … you Zombie you, you’re qualified!
And Fly ..Quit your impudent exclamations such as ” Brace Yourself for New Lows” . Whenever your head gets too big the market proceeds to defecate on your face.
Oops, looks like CAP’s long again.
Steely Dan never gets old. Celts let it slip away last night. Back to Boston 2-3 advantage Lakers.
the Dan would have a tough time writing “pearl of the quarter” today…
“red beeaans and riiice for $27.99” doesn’t have the same ring to it.
Screw you JAKE ! I am short. I’m just pissed cos the market refuses to go lower. And Fly always jinks my positions especially when I am short. I personally think the Dow needs to go to 10700 – the lows from June July 2006.
EDIT: The bulls are defending S&P 1340 with all they’ve got.
ADDENDUM: The Fly made a brilliant market sell call in late December 2007. I can’t deny his brilliance.
LEH straddle pre earnings. I’m scared they might try some “hocus pocus” bull that launches the price up shortly, BEFORE the account fraud is exposed…
bah. the fact that i didn’t buy the SKF last week proves that i have no business in the stock market. i’m 100% cash watching the FXP, QID, and SKF rocket higher.
this is gay.
Yes I still am short oil except for some long refiners like SUN and TSO. Why is BHI dropping like Clinton’s pants if fuckin’ oil is so bullish?
Something is fucked up in this entire oil and
energy business – and in the entire stock market. Why is FSLR valued at more than F and GM combined? This entire market is a fuckin’ bad joke, with the shit skyrocketing and worthwhile companies going in the shitter. Why is gold tanking?
Some kinda bad shit happening out there-
and I don’t just mean big banks and brokerages losing fuckin’ TRILLIONS. There is the aroma of GLOBAL BAD SHIT permeating the air. We gonna get POISONED. Dig that crater in your back yard and hide the kids and dog. Spam and crackers are the best Father’s Day gift around.
Hoot– strange but interesting post….The market is fine– it’s Fly’s Ho.