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
21,503 Blog Posts

Another Glorious Day

“The Fly” is in his fucking tank, just rolling over pedestrians.  As you know, my unearthly short positions in [[HDB]], [[PACW]] and [[CATY]] are ‘tea bagging’ pension funds, across the globe.

Early this morning, the market stepped into an empty elevator shaft and was quickly impaled by a degenerate bank teller. [[SKF]] hit $211. I cannot believe it.

Right now, many of the financials, led by [[LEH]], are trying to bounce. However, I am very skeptical of such occurrences.

By the way, how wrong can one man (Cramer) be? Wasn’t that jackass just touting [[FNM]], exlaiming: “they’re done going down”?  Seriously, I know CNBC enjoys the “charm” of Cramer, with his manic-depressive lifestyle and all. But, when will they come to grips with the reality that Jim has NO FUCKING CLUE what he is talking about?

In other news, one day after I sell out of my bullshit [[SMN]] position, basic resource stocks collapse. ROFL!

That ETF is out to get me, no doubt.

[[CLF]] and [[X]] are good short candidates.

Also, the ag sector is knifing lower, eating pavement—if I may be so bold. At the moment, [[MOS]], [[CNH]], [[AGU]], [[CAT]] and [[POT]] are worth betting against. Additionally, ‘global growth’ plays like [[TEX]], [[VMC]] and [[ETN]] should always be bet against.

Finally, if you’re a lazy cow fucker and like taking short cuts, get long some [[FXP]]. In my opinion, without any reservations, that fucker is going higher. While I’m here, don’t forget to shoot [[VLY]], [[WABC]] and [[PCBC]]—for good measure.

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23 comments

  1. TraderCaddy

    I’m watching Leave it to Beaver on TVLand. Much better than watching Senator Blowhard and Chairman Mao.

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  2. BOOMER

    This is my United States of Whatever!

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  3. CAP

    Don’t you ever buy SMN again !

    And Fly , just in case you are planning on buying SMN please let me know in advance so I can sell mine and short some.

    Is it just me or does something not feel right about BAC ? Lagging other bank stocks. Nobody is talking about how bad their exposure is. Seems like everyone takes BAC for granted. Might be a good short here. With all that Countrywide shit they in their portfolio they could be in for a rough ride.

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  4. BOOMER

    Anyone still short PCLN?

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  5. Crude Broker

    Fly, your thoughts on SRS. I’m long from about $100, thinking about adding.

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  6. CubsRock

    I see divergence.

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  7. Aris

    i love markets that are run by traders. what a mess. lol

    ‘buy’

    ‘no wait – sell!’

    ‘sell means BUY’

    ‘dump it!’

    ‘i’ll take everything you got!…..i think.’

    ‘wait’

    ‘what are the spreads on the aug 300s????! buy those!’

    ‘fuck’

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  8. Donny

    DUG up big! LoL

    All Fuckers better get their shit in order, ain’t nothin’ gonna be preserved … including those fat ass oil co’s.

    Ta-Ta fuckers!

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  9. Crude Broker

    Donny you da man!!!

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  10. Sir Douchebag

    bounce coming now.

    Finally. VIX complete, oil down, XLF bottomed on the trendline.

    Here comes tha big ass muthafucka bounce.

    It’s going to sneak up on the shorts like Dick Fuckin’ Cheney now. Just watch.

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  11. Big Mike

    LOL…Dougie Kass according to his latest entry is 100% long.

    Imagine this as an investor on a SHORT ONLY FUND…”Hey Dougie, the market has been getting KILLED lately, how much money have I made from my shorts?”

    Dougie: “No shorts…100% long since past month”

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  12. Hank Paulson

    I told Doug to buy the banks, or I’ll have Ben foreclose on his mortgage—after we get more power from Congress.

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  13. Jamie Lee Curtis
    Jamie Lee Curtis

    suggesting violence against VLY, WABC, & PCBC? shoot must be a typo…oh you mean short, ok. those shady, sleezy, slimy, lying sons o bitches @ PCBC declared a 22c dividend today as they conspire to try to bury all the bodies in the books for display in a couple weeks. ..all just pure conjecture of course.

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  14. CAP

    I wouldn’t poke fun at Doug Kass. He tends to be correct more often than not. He also tends to be a little early. I think bank stocks have been stretched to such an extreme on the downside that a snap back rally could wipe out a big portion of gains on the short side. Many bank stocks could easily go up 40-50% from where they currently are and still be technically in a downtrend.

    BAC could go from $19 to $29.9 50 day MA.

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  15. The Fly

    No Cap.

    Kass lost all respect with his recent bank call.

    That fucker has been bullish on the banks since SKF was $90!

    Think about that.

    A short only fund missing an epic collapse in the financials is unacceptable.

    Not only did he miss it, he was LONG banks.

    ROFL!!!

    Fuck Kass.

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  16. DSB

    I just printed out a full screen version of the Art Cashin “He Kicked Me Down The Stairs” CNBC picture, and posted it on the mirror in the bathroom. Sadly, it was not there when I returned.

    Does anybody have a bigger version of it?

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  17. CubsRock

    I agree CAP, I think Dougie sees great value. A chance to sit back, relax and watch his money grow.

    WM is up 27% today and still only $4….

    Btw check the blow off top on SKF daily. hah so classic, gap up and blow.

    jog on

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  18. CAP

    257 mil + shares traded on XLF ! This has to be a bottom. We will surpass 400 mil shares traded – highest amount ever.

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  19. CAP

    Short oil here. Its peaked. Volatility increases at tops and bottoms. Oil sure as hell doesn’t look like a bottom. So it must have peaked.

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  20. Donny

    Big Oil is the last bastion of hope for those searching for a bull market. The bears are gonna take a mega-shit on that sector too …

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  21. Aris

    after overhearing a conversation on the desk, i’ve figured out this market action…

    trader 1: i’m shorting everything i can borrow. this market is done

    trader 2: yeah, me, too

    trader 1: you are?

    trader 2: yeah

    trader 1: *phones floor* fuck. BUY IT ALL BACK

    trader 2: fuck you

    trader 1: i’m in ur 401kz, stealin ur fundz

    trader 2: you short oil? it’s up today

    trader 1: yeah. it will come in.

    trader 2: large buyer on the floor

    trader 1: bullshit

    trader 2: no bs. i’m watching the floor now. rumor that it’s the chinese govt buying open market

    trader 1: *phone* BUY IT ALL BACK

    trader 2: just kidding; it was a seller.

    trader 1: fuck you

    trader 2: i’m in ur bloomberg, stealin ur tradez

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  22. Jakegint

    I wouldn’t poke fun at Doug Kass. He tends to be correct more often than not. He also tends to be a little early. I think bank stocks have been stretched to such an extreme on the downside that a snap back rally could wipe out a big portion of gains on the short side. Many bank stocks could easily go up 40-50% from where they currently are and still be technically in a downtrend.

    BAC could go from $19 to $29.9 50 day MA.

    Serious question. Are Cubs and CAP the same guy?

    No matter, I love them both.

    Fellahs, can I interest you in a 60 day chart of the BKX?

    __

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