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
21,907 Blog Posts

The Market Must Rally Today

[[VLY]] posted decent numbers. As a result, “The Fly” is an early morning recipient of a claw hammer to the cranium. People get overzealous, buying shit like it’s going out of style.

Look at the [[CLF]] for [[ANR]] deal. That doesn’t prove the materials sector is undervalued. Instead, it displays the stupidity of the CLF management team.

On the [[WFC]] news, banks are trying to rally here. I am always skeptical. However, today I believe they will go up. As a result, I bought a quick 10,000 shares of [[UYG]] at the open. As you know, this is an average down for me.

With oil weak, banks stocks posting good earnings and a few deals getting done, the bulls MUST rally this market. If it cannot run up 200+ points today, they’re fucking doomed.

If you are heavily short stock, I strongly recommend you hedge your bets with some double upside etf’s, like UYG or [[ROM]] If you enjoy the content at iBankCoin, please follow us on Twitter

29 comments

  1. Carter Worth

    Has anybody seen my slide rule?

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  2. InternationalGroupie

    oil has more prob to go to 200 than hitting 100. We’ll see what will happen at 1030 for oil today.

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  3. Juice

    The fishes in the barrel are fighting back.

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  4. bulliSHIT

    then again, a rally in oil will completely deball the long UYG trade

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  5. DB

    Oil has been bouuncing every time it hits the 30 day MA. That is exactly where it is now……

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  6. alphadawgg

    The pic is from “Rounders”…good flick.

    “Pay da man his facking manney.”

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  7. sniper6

    CLF taking an icepick to the side of the neck. Not much at bargain shopping, are they? hehehehe.

    Shorted PCX @ $138.50

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  8. TraderCaddy

    Buying at the top is like when WB bought Golden West Financial. The way to do it is like when PDG (Placer Dome) and HM (Homestake Mining) were bought when gold was about $300 and people laughed.

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  9. Teddy KGB

    That fucking Oreo in the pic on the front page was the tell that Mike used to lay down a monster against me.

    Mr. The Fly is right that today’s action is the tell for the market. Bulls need a win, badly, or they’re fucked.

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  10. alphadawgg

    WFC was saved by insurance premium revenue and credit card revenues.

    1.) Insurance premiums? Crop insurance is about 18% of their bidness. Yeah. As a result of last great flood in 1993, the average crop insurer paid 5 times in claims than they got in premiums. The estimate is that losses in 2008 will be worse, especially with corn and soybean prices so high.

    2.) CC’s? We know what happens to the consumer during a recession.

    Bad mortgages will continue to increase in CA. Meredith says more write downs coming. She’s no dumb blonde.

    WFC back to $20.

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  11. sniper6

    and covered PCX @ 136.50. I have no fucking patience whatsoever. aaahhhh, shit, fuck.

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  12. Big Mike

    Top Pick:

    Short RIG

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  13. TraderCaddy

    I dunk my Oreos in milk and let them soak for a minute or so. I was never big on the Oreo “twist and lick”.

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  14. calvino

    sell vly, fmbi

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  15. big snacks

    my short rig long uyg trade is working like a charm

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  16. sniper6

    I had some Oreos the other day. They had mint flavored filling. It was pretty good.

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  17. big snacks

    mike.. i love the short rig trade..

    smart man..

    i let yall know when i start covering in the mid 130’s

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  18. calvino

    sell urbn

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  19. The Russian

    Facking RIG

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  20. TraderCaddy

    I like the regular Oreos instead of the Double Stuff. If I eat too much of the creme filled inside I start bouncing off the walls like a rubber ball.

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  21. calvino

    The chairrat just said the gse’s are well capitalized and in no danger of failing. The underpinnings of the rally.

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  22. sniper6

    …and bought PCX again at $131, I really need to get my head examined. This stock market shit is fucking wacky.

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  23. calvino

    The bimbo just cut off Ron Paul.

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  24. Juice

    Let the bulls party like its 1999. They will choke on it soon enough.

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  25. Mr. Moribund

    I’m adding to my HRB short here fuckers.

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  26. Jakegint

    Thanks for letting me get out of that SKF “sold calls” mistake I made two weeks back, Lawd.

    Now, I can haf some SKF at under $180, pretty preeze?

    __

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  27. Jakegint

    Where’s my friend Boca?

    Anyone notice anything odd about NLY today?

    No?

    _

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  28. Cajun

    She’s over here with me banking coin.

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  29. DPeezy

    Is that what you call it in Cajun-land?
    wink-wink nudge-nudge, say no more…

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