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
21,892 Blog Posts

Hedged

I am leaving early today, totally disinterested with the chicanery taking place in banks. As a result of today’s melt up, I sold out of my [[FMCN]] position and I reloaded my shorts in [[TCB]]. And, I bought more [[SKF]], [[SRS]] and [[FXP]].

In addition, I threw on some hedges, going long [[UYG]], [[MS]] and [[STI]].

As an aside, I covered my shorts in [[CMA]], [[BBT]] and [[Mi]]. And, don’t forget, I am long [[WB]].

In closing, I spit on banks; but respect the fervor of the bulls buying this shit. So, until proven wrong, one way or another, I will keep a short bias—but hold sufficient longs in order to stem catastrophic days like today.

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21 comments

  1. CubsRock

    You really think this shit can pop 1261?

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  2. BOOMER

    Just popped 1261

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  3. Airborne Ranger
    Airborne Ranger

    God Bless The FLY and all of his friends in West Hollywood. I hope you guys are OK after that quake. Be there for one another and wave your flags with pride!!!!

    cough cough homo

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  4. Aris

    today was massive short-covering because of that sec nonsense. guaranteed.

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  5. makmood amadickahead
    makmood amadickahead

    i laughed my ass off at that missle pic. HAHAHAHAHAHAH

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  6. nik

    the markets are manipuliated by the gov. sooner or later there will be blood when a big one (leh, wm, mer,…) will go bust.

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  7. DSB

    My bud (and an IBC reader) sold all of his SKF yesterday, avoiding $17K in losses today.

    -pimp-

    I, on the other hand, still hold it like a retard holding a melted ice-cream – hands all sticky and shit. I keep telling myself it’s my market neutral hedge, and not to play with fire.

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  8. Proud Los Angeles Resident
    Proud Los Angeles Resident

    That’s okay Mr. Ranger sir. We’re just peachy here in the City of Angels. At the moment the quake hit, I was with a friend, and let’s just say the sword was “to the hilt” at just the right moment. I mean, I always feel the earth move, but not like this! *wink*

    PS: military men are so rugged. I’m sure your… shall we say “companion”… is very happy indeed!

    PPS: you ought to have that cough looked at, sounds serious! You might have a “little something” lodged in your throat. Trust me, I’ve been there!

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  9. Airborne Ranger
    Airborne Ranger

    Im sure you have “Proud Los Angeles Resident”

    Do you still live near “adams apple row” in hollywood (fountain Ave)? You know, the place where all the hookers look like women but have huge adams apple’s?

    Odd, no?

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  10. DickBove

    Tom Brown just declared July 15th, 10:15am, as THE BOTTOM for financial stocks and to prepare for the biggest bull market in financial stocks of our lifetime. He made a point of saying to expect more bad news, but the stocks bottomed. Anton Schutz seemed to agree, but he was not quite as enthusiastic.

    Tom Brown, Anton Schutz, Doug Kass and Dick Bove. Pretty big schlongs in the world of financial stock analysis.

    The chorus for a bottom is growing louder.

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  11. big snacks

    fly

    you bought uyg and skf? u fucking idiot.. just buy less skf.. or better yet dont buy any at all.. fucking moron

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  12. Proud Los Angeles Resident
    Proud Los Angeles Resident

    When Brown, Dick, and (k)Ass all agree, you know it’s gonna be good times! Crack open a Zima, fellas!

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  13. Prospectus

    Where can we see past Fly pics like the missile launch? Or are they gone forever into the aether?

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  14. TraderCaddy

    Now the guy on Fast Money with the Devil’s beard and the pony tail wanted to get long the XLF at the open today and he said yesterday after the MER news to get puts on the XLF. He needs a shave and a haircut. Maybe he will think better.
    Time to switch to the infomercials on the Golf Channel

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  15. BPOE

    MVIS: Insider buying: relationship 10% owner. Highland Management LP. Date jul 25th bought 5,364,807 shrs @2.33
    $12,500,000. Sec form JUL 28th. It is about time.

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  16. The Fly

    The reason for the skf-uyg buys are complicated. Just know they were done at different times and both serve a purpose.

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  17. big snacks

    fly i guess if you considered skf a core holding and did not want to mess with it i could understand(sort of)… but usually i would expect you to buy indivudual names as a hedge that you thought might out-perform

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  18. Q4

    Payo

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  19. The Fly

    Snacks:

    I was pressed for time and decided to go with a basket.

    It will slow shit down for me and allow me to weight accordingly.

    Down 19 on SKF was a gun handle to the balls today.

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  20. Jakegint

    Q4 — where’d you get that clip?

    You were at sister’s wedding, when one of the bridesmaid’s decided to go “karaoke?”

    __

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  21. Jakegint

    Never mind SKiFfles for now, we’ve got full blown paternal communism goin’ on in L.A.

    I haven’t seen Anton all day, but I hope he’s down there, “coin-flipping” with the whole communist L.A. City Council.

    __

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