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
22,168 Blog Posts

BEHOLD: The Weekend Plan

I am buying gigantic quantities of [[RIG]] here, despite what you assholes think. To couple that, I went LONG [[UYG]] at around $17.45. I know the banks blow; but I have a hunch.

Also, I sold out of all of my [[DUG]].

I will keep all of my [[FXP]], [[REW]] and [[SMN]]—just in case.

My sense, the market is too shorted. I couldn’t borrow stock today, in like 15 names. Every one is setting up for a washout.

Look, the long term is still grim. However, with all of these rookies out there shooting at banks, and the Gov’t handing out cheese to [[FNM]], beware of a squeeze.

I’ll keep my [[HRB]], [[PACW]] and [[HDB]] shorts, based upon egregious valuations. But, in general, I am done shorting stocks—until my mood changes, of course.

Have a terrible weekend, fuckers.

UPDATE: Note the Godliness of my [[PZN]] calls. I insist.

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36 comments

  1. CubsRock

    Still looking for your balls? Perhaps you should check alphadawgg’s hands. At least someone here has some balls, like Wood did.

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  2. Woodshedder

    I just threw 1/4 of my capital at SSO and QLD, about 10 mins ago.

    I’m banking some serious ass coin.

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  3. SatanicChihuahua
    SatanicChihuahua

    I suppose all capitualtions are somewhat different. To me, this is what I want to see:

    1) I want to see stocks open down huge;
    2) I want to see at least 90% of all stocks traded continue to decline through midday;
    3) on huge volume;
    4) I want to see VIX spike to at least the mid 30s, if not 40;
    5) I want to see stocks reverse INTRADAY with just as much vigor as they were sold in the morning, with 90% of all stocks trading up off the bottom.
    6) I don’t necessarily need to see stocks finish postive on the day, but that would be ideal.

    I think enough were met for a tradeable bottom.

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  4. The Contractor

    Fly, you truly are a “space alien magician”.

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  5. CAP

    I had open orders for 15,000 UYG which got filled at below $16.50. Sold half above $18. Not bad for a days work.

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  6. Mad Max

    PPT at it’s finest.

    Pranksta Protection Team

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  7. Rally Monkey

    Help me.

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  8. Mr. Market

    SatanicChihuahua

    I don’t give a flying fuck want you want to see. You’ll take what I give you….and you’ll like it.

    Fuck off, dreamer.

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  9. BPOE

    Here we go Loop De Loop. The squeeze is done already.

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  10. Kiwin

    Bernanke has given Freddie and Fannie access to the discount window.

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  11. Woodshedder

    Out, with smaller gains than I would have liked, but gains, none the less.

    Scottrade sold me my shares, but when I tried to sell them, said I didn’t have them. I had to bust some fucking balls at Scottrade.

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  12. Daddy's Hungery
    Daddy's Hungery

    yeah, was that the squeeze?

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  13. Sir Douchebag

    seriously: people are buying QLD and SSO ?

    This market had full on PPT today — and still -122 dow.

    That little flash to green don’t mean dick. Anyone can flash it. They can’t even close it now.

    Slow bleed back to 10,900 as the swing traders realize the ‘bounce’ fizzles.

    FNM — I don’t even get how it’s still at 10.

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  14. Mad Max

    This is seriously nuts.

    Does Stevie Wynn run the stock market?

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  15. Woodshedder

    Goddammit Scottrade cut my fucking gains in half with their fucking shenanigans.

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  16. TraderCaddy

    Wood- Next time you see the Scottrade helicopter over head you have my permission to use a surface to air missile.

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  17. Mr. Market

    I love the smell of traders getting burned. It smells like……capitalism.

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  18. Roger Riney

    Oh, c’mon. What did I do?

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  19. Woodshedder

    TC- rotflmao…

    They told me it was the MMs problem. I said, “no, its your fucking problem. I’m hitting the sell button right now, and whatever time gets logged, you’re gonna give me my fucking cash back at that price.”

    I mean I’m up well over 1 point on 400 shares, in just about 10 minutes, I go to sell, and then those fuckers try to tell me that the MMs never reported the buy price back to them. Not my fucking problem.

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  20. Woodshedder

    Watch your back, Riney.

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  21. calvino

    Nah, STeve Wynn is using his credit lines to buy his stock. Always a winning strategy when you have six months of cash burn left in the middle of a huge capital buildout.

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  22. Jakegint

    I am buying gigantic quantities of (RIG: 144.77 -1.19%) here, despite what you assholes think. To couple that, I went LONG (UYG: 17.37 -4.40%) at around $17.45. I know that banks blow; but I have a hunch.

    So does Quasimodo. You both need sanctuary.

    Also, I sold out of all of my (DUG: 30.70 +1.96%).

    Ouch, ouch, ouch.

    You are overthinking things. Reach out. Feel the Force again.

    __

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  23. InternationalGroupie

    MXB …fuck it aint moved at all with the market. WHYY!!!

    And here i thought it will drown under its valuations.

    You still short MXB FLY?

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  24. Jakegint

    I just threw 1/4 of my capital at SSO and QLD, about 10 mins ago.

    Appreciate the donation.

    _

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  25. Jakegint

    Rally Monkey Says:

    Help me.

    ^^^^^^^

    Comedy gold. bravo.

    _

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  26. Woodshedder

    Jakey, it was a great trade, from a great set up, and would have been executed perfectly, were it not for Roger Riney.

    You got no donations from me, buddy. I still banked coin, despite a 3rd tier trading platform.

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  27. calvino

    Covered half ub, clf shorts, covered leh

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  28. complete douchebag
    complete douchebag

    accidentally bet the farm on LEH.

    wish me luck.

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  29. TraderCaddy

    Good luck.

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  30. calvino

    What Caddy said, I covered to take gains, nothing more.

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  31. Richard Head

    Who needs a discount window,just have Ben blast cash to everyone like they shoot out those t-shirts at basketball games.

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  32. Jakegint

    accidentally bet the farm on LEH.

    wish me luck.

    Start shopping for that new John Deere!

    (oh, did you mean LEH LONG??)

    Plant the magic beans!

    _

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  33. InternationalGroupie

    calvino, do you have experience in forex? Or anyone with any forex experience. Need help looking at my long term outlook.

    I have heard from a future’s market maker (friend) that never bet against oil even when oil falls! According to him, certain “market evolutions” are taking place that put the oil and dollar inverse trends into question. The oil and dollar’s trend will feed itself into a 200-300 oil with few years. (his opinion not mine).(Only two killer to this trends are 1. commodities intervention and 2. econ data that shows HUGE slowdown in china. (a US interest rate hike will not do the trick according to him, involving other fishy things that made no real sense to me.)

    Another thing i was wondering is a straddle or even a hedged play that goes like this:

    Betting for oil, coal and ng while hedging with DUG. (I would sell DUG on a day like today though and rebuy after it reaches lets say 148 or so) Also shorting USD/JPY till december or so. And any further housing market weakness in england, i will short sterling.

    This will be my core play for now. Any comments.

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  34. calvino

    The gbp is going to get shaken out. As will the euro. The money is going to come back to the chf.

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  35. Jakegint

    Hail to the CHF!

    _____

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  36. Q4

    Berry nice on PZN!

    I’m still short HRB too, that fuckface is annoying.

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