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
21,506 Blog Posts

Pick a Side Already

This back and forth action can kill traders. There is a lot of noise in the market now, ranging from arresting all short sellers to killing all banking CEO’s. If you’re trading this market, like many of you are, try to be hedged at all times.

For example:

Long Banks/Short Tech or Short Oil/Short Banks

You need to examine sectors and how they correlate to one another. Recently, airlines, retailers and automakers have been running, as oil slips. Naturally, many of you think short oil/long airlines is a good trade. However, keep in mind, that is a very levered bet. Should oil bounce, you are double fucked.

The appropriate trade is long airlines/long oil.

In my opinion, the market will keep a tight range, until the annual September-October fuckery, when everyone gets killed.

The current theme is to kill the oil speculators and those who are short banks. The common denominator is that both of those trades have been wrong, for a very long time. It’s almost as if all of the losers banded together and went out for revenge against those who have been banking coin. Egregious and erroneous behavior.

This trade will end, as all trades do.

Now is the time to identify good entry points into energy stocks, like [[CHK]], [[RIG]], [[OXY]] and [[SU]].

And, at the same time, look to sell short some fucking banks—due to the fact that the carnage is far from over.

Just to fuck around and test out iBC’s new proprietary software, I bought some [[AUXL]]. I will explain this software in greater detail at a later time. Just know, it is my brain translated into code.

Top pick: Short [[TCB]] If you enjoy the content at iBankCoin, please follow us on Twitter

21 comments

  1. calvino

    I can’t imagine translating your intelligence into a code. There is not enough computing power in the world to even run a monochrome simulation of the DaVinci world your mind inhabits.

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  2. Breaking News

    Fly…does this market hold up today or does it need more viagra.

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  3. Danny

    damn calvino, will you speak at my eulogy?

    Of course programming Fly’s brain has been difficult. I believe Jeremy has rickets now as a result.

    you know what can be coded? iBCM.

    “Doctors are gay.

    Considering a large decline in the indices, there was surprisingly light daily selling as per the iBC Machine.

    I interpret this as less real selling pressure, and more of a “bids being pulled after the run.”

    That may be an incorrect interpretation of events, but what’s indisputable is that there was less selling pressure than I’d expect on a big down day.

    For instance, today was about 25% less strong than Thursdays decline, and only ~ half as powerful as the buying on Tuesday.

    Given that info, it’s possible that light selling on a big down day is a ST net positive.”

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  4. The Fly

    Rally holds.

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  5. Goldie

    Bought some MER 17.50 Jan Puts on this BS dilution pop… COF up on weak volume too.

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  6. ZenProfit

    Did Mr. Fly make certain that all of his blood was accounted for yesterday?

    Jealous 2nd-tier bloggers might try to steal some of the DNA to clone Mr. Fly’s brain-power.

    The world could not sustain 2 Mr. Fly’s.

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  7. calvino

    As soon as I said that, my positions started working. I will reserve that trick for when it counts however. No point in wearing out a good thing unless in extremesis. usd/chf, usd/jpy, usd/cad rolling over. Money leaving the tape.

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  8. The Fly

    Calvino:

    How about some late day shorting in LVS and MGM.

    Or, maybe the Bear Stearns of the group, BYD?

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  9. calvino

    LVS and MGM have been pumped til 12. They have been rolling over since. I am holding mgm and wynn short. Careful.. these have been worked the last two weeks.

    look at pacw.. disgusting

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  10. The Fly

    ALERT:

    CNBC has resorted to the “Big-Mac index,” in calling for a bottom in stocks.

    Lovely.

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  11. JakeGint

    The time to get short LVS was 11:30 (give or take). If anything, it’s prolly going to take a short trip back to $45 here.

    I’d wait for that entry.

    Update: BYD looks much more joozy (sic) right now. If it fails $10.10, punch it.

    __

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  12. TraderCaddy

    Fly’s brain is written in Fortran and when he sleeps he dreams of IBM punch cards.

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  13. Sir Douchebag

    Market always works in extremes now thanks to short term traders / hedge funds.

    Now that the short oil ball is rolling — it has to go off a cliff. This is going to put a lot of strength into the markets — especially the XLF, XLY areas where shorts are too dug in.

    Cheap oil will save the world. Plus free up trillions in funny money searching for a new home.

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  14. CubsRock

    Testing out your new IBC code a day before earnings? Come on now, be patient.

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  15. JakeGint

    Cubs, fugheddaboudit.

    This place is just Fly and Jeremy’s “fuck around” site.

    Ovah heah’s where all “the benjamins” are rolling in!

    Emergency update!: Don’t let the Fly bullshit you, he LOVES needles!

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  16. Breaking News

    Fly…you still hedging with skf.

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  17. KC Trader

    Oil will rally soon, sending the markets down. Once you can short the financial sector again….bear market resumes.

    FSLR and earnings……Going big one way or the other.

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  18. ZenProfit

    BYD now tanking.

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  19. Woodshedder

    GDP growth is going to surprise to the upside on Thursday.

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  20. JakeGint

    GDP growth is going to surprise to the upside on Thursday.

    Wood, you forgot to put “surprise” in quotes.

    _

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  21. Mushroomz

    WHAT SAY YOU, MORPHEUS?

    The Fly is getting all matrix on us.

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