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
22,140 Blog Posts

I’m Looking For My Balls

I have visions of great personal anger in my head. I can fathom some sort of Government bailout, followed up by HARDCORE CNBC cheer leading—resulting in a massive melt up on Monday. They might even pull that old fucker, Vince Farell, out of the woodwork to call another bottom.

I covered my shorts, excluding my 200% inverse ETF’s, because I had the wrong stocks. Typically, I am pretty good at identifying my “wrongness.” Right now, I am sitting on mountains of cash, borrowed stock, but zero trades.

I’m thinking: “why should I short more here and risk my balls, on a Monday fuck you”?

But then, I think: “asshole, you sound like some pussy. Do it. Don’t think too hard, your balls will fall off. Do it.”

These are the thoughts that are racing in my head, at 2:26pm, July 11th, 2008.

NOTE: Irish bank, [[AIB]], looks like a fucking empty treasure box.

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24 comments

  1. Dinosaur Trader

    Impossible, it’s 2:25.

    -DT

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  2. CAP

    Meltdown on Monday followed by Emergency Fed Meeting. Bottom on Tuesday.

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  3. calvino

    repost

    Chris Dodd joins the douchebag parade today. ‘There is no reason for these marktes to be in a panic.’ Maybe there is reason for you to be a in a panic since you are heading for fucking impeachment, just like dad, after the power corrupted him. Started out a s a good man and ended up in grift. what a shame for the man.

    Yes douchebag, there is reason to panic even if you convert mortgage paper into treasuries. First that is dubiously legal under the Fed Reserve Charter. Second, you can just kiss the dollar goodbye. S and P already said they may pull triple a’s from treasury paper. Then what the fuck are you going to do douchebag. The hubris and stupidity of these douchebags is beyond bounds. Hegde yourselves, friends, gold, oil, chf. If these douchebags nationalize Fannie, we are fucked in completely new and unfore3seen ways.

    UPDATE….
    Martay – hold the fuck off! You have no need to push your fucking winnings. Stay with your first intuition.

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  4. IShortYouNot

    Weekend risk has shifted from downside to both sides. We could have a bankruptcy over the weekend and melt down or a bailout and melt up. This is fun stuff.

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  5. Woodshedder

    The only way you’ll get 100% this year is pressing it.

    However, I agree with your assessment, 100%.

    Hey, you can always start carrying a purse.

    I’m sitting on some FXP. Other than that, cold hard cash.

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  6. Gtrader

    S&P markets to 1180 1-2 weeks. no bottom here. watch the shit pile up when people dump

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  7. TraderCaddy

    Certainly no capitulation yet. Capitulation is alot like pornography as defined by the US Supreme Court. You will know it when you see it (if one’s head is out of the toilet bowl).

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  8. Gtrader

    correction 1-2 months^

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  9. Bennet

    It looks like LEH is next

    I’ve been saying for months That Lehman (LEH) was next. I still think so, at least in the brokerage space.

    LEH preferred stock that it floated at 7.95% was recently trading at a 15.5% yield.

    The company cannot finance itself, and this reminds me of Bear Stearns.

    Then again Morgan Stanley (MS), Merrill Lynch (MER), Wachovia (WB), General Motors (GM) etc. can’t finance themselves either.

    Buckle up folks. The question on my mind is will an acquirer guarantee LEH debt and preferred like in the JPMorgan (JPM)/BSC deal? I highly doubt it.

    If Fannie Mae (FNM) and Freddie Mac (FRE) shareholders get squat, why should LEH be any better? It should not.

    As I’ve been saying, it was irresponsible with its own capital, its clients’ capital and its balance sheet.

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  10. Dinosaur Trader

    Agree, not even close, TC. The volume, considering the intrigue in the market today, is pathetic.

    Fucking weird.

    Besides, CNBC has to get through a broadcast day without saying the words “capitulation” or “bottom” for it to happen.

    -DT

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  11. Gregory

    I am about 98% cash also. But only cause I can not find my balls either.

    With all this cash around, Monday certainly should be interesting.

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  12. Juice

    Fly – the next trade will come to you … no need to press or guess, especially when you’re up mongo

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  13. Juice

    Why do the markets listen to Cramer?

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  14. GOD

    i send you the rally

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  15. The "D" word

    If they do a bailout of sorts will they have any bullets left?
    and if it doesn’t hold, then what?
    http://www.youtube.com/watch?v=1-0BVT4cqGY

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  16. TraderCaddy

    Am I eligible for using the discount window? By the way, where is the window? I always imagined it to be in Falls Church next to a bowling alley.

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  17. calvino

    The fuckholes did it.

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  18. Gtader

    why didnt you send me the damn buy signal god

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  19. CAP

    The discount window is between Bernankes butt cheeks.

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  20. Daddy's Hungery
    Daddy's Hungery

    Don’t be a pussy Fly… place some chips!

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  21. Juice

    I think Fly is right … the PPT will be busy all weekend on some sort of Fuck You Bears Monday open.

    Probably people are covering & buying some with that in mind.

    If not, another elevator down to the next floor.

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  22. Jakegint

    Hey, you can always start carrying a purse.

    ROFLMAO!!

    I am almost 100% short, with about 15% cash, give or take some leverage.

    After what Alpha did yesterday, I’d feel bad getting all reticent & shit.

    “Candle me or pay me, fuckers.”

    _

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  23. Jakegint

    GOD Says:

    i send you the rally.

    This fucker is getting the “blasphemous shiv.”

    Better than hell, I guess.

    ___

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  24. BOOMER

    Light bulb. I just deciphered Calvino…

    “Martay” refers to The Fly, as in Marty McFly from the movie Back to the Future.

    Hell, this whole Fly persona could be based on Marty McFly. Time machine. The whole bit.

    Interesting.

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