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
23,533 Blog Posts

Back to Winning

Aside from [[CLNE]] and [[FMCN]] longs, “The Fly” is back to mid-season form, with his timely [[SKF]], [[SRS]], [[FXP]] and [[TCB]], [[LEH]], [[MI]], [[BBT]], [[CMA]] shorts.

Even though I was greatly tempted, via soft whispers in my head, to sell short more banks into the close, I resisted. I am sure the “government cheese makers” will have some more “newz” for the market, come Monday morning. So, I’ve decided to hold my fire for next week.

Just know, most of you longs are in grave danger. Chrysler is no longer offering leases, banks are demanding 30-35% down on a new home and 30 year mortgage rates are north of 6.7%.

Good luck on that 2nd half recovery, fuck-face.

Look you, I do not wish ill upon my fellow man. I just want to bank a little coin off his despair, while listening to gangster rap music.

In all earnest, I hope the economy can get back on track. I remember and miss the days when I’d push old men, who were shorts stocks, into and down empty elevator shafts. However, my “calculator brain” has forced me into having a most dire outlook for U.S. equities.

Naturally, this can change with new data, specifically the collapse of commodity prices and loosening of credit standards.

In closing, if you’re the patriotic type, kill the chicoms, via [[FXP]]. Hell, they’re your future enemies, with their fucked up toys and disgusting shrimp farms.

Top pick: short TCB


UPDATE
: Weekend viewing

[youtube:http://www.youtube.com/watch?v=TeWJZiJGc2s&eurl=http://market-ticker.denninger.net/ 450 300]

UPDATE II: Even better economic commentary.

[youtube:http://www.youtube.com/watch?v=mLo8u21iif8&eurl=http://www.nahright.com/news/ 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter

34 comments

  1. pay attention

    Lucky for the “Fly” he leases BMW’s. No chance of a problem there…that resale value will ALWAYS be there.

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  2. The Fly

    “The Fly” buys with cash, fuckface.

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  3. brian

    Ok don’t drop kick me here you fuckers for asking this but if you had 50k you just came into like I did where would you put it. More importantly what broakage would you use I have an Etrade with (play money) account and mostly in Fidelity which only charges me 8 bucs a trade but I don’t really like the active trader platform it will not work on my apple laptop so I have to use my other computers and I think it kinda sucks….. Best online broker….

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  4. Earnest

    Whattaya mean “in all earnest?”

    _____

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  5. Earl of Sandwich
    Earl of Sandwich

    I think he means,

    “In all, he who goes long the fractional share banque spot..

    Shall ever more, earnest not.”

    Or something along those lines, dear boy.

    ___

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  6. Topper Harley

    Brian – TOS is the best broker on the planet

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  7. Mike Hunt

    Beware DOW 11,111 because it will come back to haunt you!

    Remember this figure f*ckface otherwise mothergoose will come to rip off your head and sh*t down yo’ neck!

    The date of prediction is; 07/25/08

    When it comes true and the DOW rises to 13,000 you will know who controls whom…

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  8. Earl of Sandwich
    Earl of Sandwich

    I purchase all of my carriages “lightly used.”

    Everyone with half a crumpet for brain knows that once one hooks one’s four-in-hand to the blasted thing, it’s depreciated 20% prior to first defecation!

    ___

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  9. brian

    Think or Swim I heard that Gay name for a broker though. Sounds like crusty the clown savings and loan….

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  10. brian

    I guess I may try TOS…thanks anyone else

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  11. Aris

    nat gas is a fucking joke. see you at $6 during our ‘warmer than avg’ winter.

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  12. Woodshedder

    I hear interactive brokers is good. I used scottrade and tradestation. I’m going to get rid of tradestation within a month or so.

    It depends on what you want. Do you want charting, options platforms, etc, etc.

    Or do you just want good executions with cheap commissions?

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  13. brian

    good executions with cheap commissions

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  14. tos and mac user
    tos and mac user

    Get over the name, use ToS, works beautifully on my old 17″ powerbook, as well as my Linux workstations. There is no better platform for options, and they are improving the stock trading features (T&S for instance).

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  15. brian

    good real time platform I have a T1 here at the house I would like to really use it to its full extent

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  16. Axeman

    ‘Shed – I was actually considering switching to TradeStation; what exactly is it you don’t like about it?

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  17. Q4

    Inner City Blues

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  18. DrDave

    Etrade’s Pro works great on Mac. It’s java.
    Other brokers I hear people like:
    IKBR
    Think or Swim (Affiliated with InvesTools)
    AmeriTrade
    TradeKing

    I’ve only used etrade myself.

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  19. haileris

    Yeah interactive brokers works great on my linux & mac boxes. And their data API (free for customers) is pretty flexible to do neat stuff.

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  20. Rico

    Brian – you need to be all over J T Marlin…Give Seth Davis a call

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  21. he is a piker and I hear the second is after his ass

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  22. Jakegint

    Shows what you know.

    The second is after “the first,” man.

    ____

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  23. Jakegint

    Nice vids, Fly.

    Both of them.

    Bofe ’em.

    PS — the fucker grilling Lex Luther is my Congressman.

    High and hard, Jimbo, high and hard!

    _

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  24. Woodshedder

    Axeman, Tradestation wants to charge me 99.00 month unless I’ve traded at least 5000 shares.

    This account is primarily used to trade the diETFs, and I’m typically buying between 100-200 shares per trade, so most months, I will not hit the 5K requirement.

    Also, I want to backtest across a portfolio of stocks, using money mgmt. variables. Tradestation does not allow portfolio level backtesting.

    There is a really good backtesting software, Traderstudio, that I’m going to purchase. It is 500 bones. So I’m thinking, dump Tradestation, and use the 99 bucks a month I save to buy the software, and then just find another brokerage with cheap commissions.

    All in all, I like tradestation. There are some really really neat features. Although, in order to use their market scanner, you’ve got to trade 5k shares a month or it costs like 80 bucks for the scanner.

    Anyway, I feel like Tradestation is charging a lot of fees, and the backtesting capability is not really what I need.

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  25. Dogwood

    IB is great. Their trading software works well on Macs or PCs, you can trade everything from stocks to currencies, and the commissions are very low, however, the built-in charting software blows.

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  26. FDIC

    Time for this week’s bank failures: http://biz.yahoo.com/ap/080726/bank_takeover.html

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  27. Topper Harley

    I wish FDIC was a tradeable entity –

    The FDIC said the takeover of the failed banks was the least costly resolution and all depositors — including those with funds in excess of FDIC insurance limits — will switch to Mutual of Omaha with “the full amount of their deposits.”

    What bothers me here is “including those with funds in excess of FDIC insurance limits”. Am I missing something here or is the treasury on a 24/7 “print the bill, fuck the dollar” exercise?

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  28. DPeezy

    I’ve used TradeKing and ToS, and ToS wins – no contest.

    I love that ‘PPT’ banner in the top right.

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  29. nullpointer

    hey cal-

    you will find this interesting – copy/paste from CR message board:

    ==========================

    First Bank of Nevada is or was one of the main processors for online gambling – if you cashed out of a poker or sportsbook site, they issued the cheque.

    There have been complaints on http://forumserver.twoplustwo.com/ about cheques being bounced from them in the last month or two, and they seem to have stopped processing completely in the last couple of weeks.

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  30. The Fly gets involved…nice change of pace from your recent post of not caring!

    Always use your influence for the better, otherwise you are aiding and abetting.

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  31. Mike Hunt

    Remember Fly

    11,111

    then

    13,000

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  32. Hef

    Brian,
    If I came into $50k, I’d have a serious talk with my girlfriend about where she keeps her money.

    Hope that helps.

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  33. TraderCaddy

    My brokers are EF Hutton and Drexel Burnham Lambert. They use a platform based on a rotary phone with a backup of two orange juice cans and a real long string. If all else fails they tell me to use smoke signals. Commissions are cheap.

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  34. Little Grey

    http://www.news.com.au/story/0,23599,24070088-13762,00.html

    FORMER NASA astronaut and moon-walker Dr Edgar Mitchell – a veteran of the Apollo 14 mission – has stunningly claimed aliens exist.

    http://www.liveleak.com/view?i=1fd_1216911065&p=1

    Moon-walker Dr Edgar Mitchell Claims Alien Contact Cover-up

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