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
23,437 Blog Posts

G o d S p e e d

The stock Gods always bless “The Fly” with egregious gifts of stock market wins, while also punishing him with brutal late season NY Mets collapses.

I made my bed; now I will lay in it.

I am loaded to the gills in Citigroup Inc. [[C]] , [[UYG]] , Walter Industries, Inc. [[WLT]] , Freeport-McMoRan Copper & Gold Inc. [[FCX]] , [[ROM]] , Synovus Financial Corp. [[SNV]] and other equally insane names.

Added to the mix is Wachovia Corporation [[WB]] , [[UYM]] and Research In Motion Limited (USA) [[RIMM]] .

In short, the credit markets are throwing everything into flux—from farms to cars to banks. It is essential that Congress passes some version of the Paulson corporate welfare plan, else all hell will break loose.

Remember, “The Fly” wins all the time, even when he appears to be losing badly.

NOTE: My largest position is C.

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78 comments

  1. Grandpa

    Have a nice weekend to the Boss and the rest of my leechy brothers too.

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  2. Woodshedder

    Wachovia Bank is done. Cooked. Only hope is that this bailout comes through.

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  3. Gunners

    Have a good weekend everyone!

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  4. cheesefries

    Fly-

    Hope is the most commonly used 4 letter word down in the projects.
    Check yo’ self befo’ you wreck yo’ self.

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  5. Woodshedder

    Whoops. Sorry Fly, I didn’t see your balls to the wall purchase of WB.

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  6. C and WB in talks…FLY…u lucky bastard!

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  7. C.C. Sabathia

    Had your lovely Mets gone long on me, there would be no late-season collapse this year.

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  8. Market Fool

    Fly pulls off another stunning move.

    I fucking love it!

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  9. TraderCaddy

    Who is buying who? Giggle

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  10. Grandpa

    WB=Rib Eye for Fly.

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  11. Mike Hunt

    Its gonna be a huge spike then an equally huge reversal – read it whichever way you like.

    Your ass is grass this weekend Fly…

    Mike…

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  12. Goldie

    Fly,
    You have balls of titanium my friend!!

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  13. Juice

    Maria can’t stand this coc’d up, animated, pink vested, bleached blonde ho!

    Kat fight!

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  14. CAP

    BREAKING NEWS

    C to buy WB

    ..For a can of Monster and 2 snicker bars.

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  15. Yeah, I noticed that too Juice

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  16. Grandpa

    Maybe it’s because sshe’s 80 pounds lighter. Ya think?

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  17. Grandpa

    Weird outfit for sure. You’d also have to put a sock in her mouth before you could do her.

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  18. vince

    Thats some crazy fly trading. Going to get hurt bad one day(reckless). Poof your bailout rally ended last friday. A gift to test those highs again next week. My money is on sideways action for a few weeks, I sold the rally hard last friday.

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  19. JakeGint

    Is C actually paying for WB?

    Or are they getting the now famous Jamie Dimon Fi’e (sic) Fingah WaMu Discount?

    __

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  20. InternationalGroupie
    InternationalGroupie

    forex market’s currency moves especially after “the House Republicans are coming back to the negotiation table” message, the markets are ready for a weekend bailout.

    high yield currencies are forming an “ascending triangle pattern” formed in an uptrend. (ie AUD)

    Risk aversion from the asian trade is now more risk taking pattern (USD/JPY)

    I personally believe this political drama has much to do with the presidental elections, since the House Republicans (its leader i highly respect in congress) have shown great resilience to wall street before main street. ” hey, we told you this deal is goddamn fuckk. ” would be a good political move.

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  21. Scully

    Diane Garnick — she’s always jacked up like a Tri-delt on schnapps and ecstasy. Bartiromo was rolling her eyes and squirming. Pigman fund manager to left lathered in sweat.

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  22. a slight Rimple

    Fly buys RIMM ??

    scary, they are dead weight for a while…but maybe it hits $75 next week. $80 the week after. Can’t believe how butchered this thing got, literally unreal. You would think they announced they were not going to ship anything at all next quarter. They hung that CEO and the company out to dry in the media. Nothing like being one of the first to report I guess.

    there will many upgrades on the rimm front i imagine. As soon as they announce new products are selling well, analysts will raise targets accordingly, mind you this is 40 days away, but coming none-the-less.

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  23. Anton Cigur

    Thanks, Fly. Since this was just for a thrill, I sold WB AH for $9.52.

    I will raise a glass of fine whiskey to you later.

    Have a good weekend.

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  24. Grandpa

    Anton, that was a sweet and fast thrill. I am drinking a whiskey to you right now. Lower middle class weeks pay in less than an hour. Good job!
    Hope the Fly’s pile of WB goes to the moon. Great ballsy call for the Fly. AGAIN.

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  25. TraderCaddy

    What did Frank just say? Please translate.

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  26. Grandpa

    Pelosi is only 3 heart beats away from running the show. Does anyone find that scary?

    TC, I think he said “she’s a cunt and I don’t go for that kind of shit”

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  27. the Bull

    Grandpa do you kiss Grandma with that mouth???

    Sheesh.

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  28. The FLY's older brother
    The FLY's older brother

    A Slight Rimple

    Fuck you. If my brother gives me your IP address I will come to your parents apartment and skull fuck you.

    Then I will put you under the glass coffee table in the living room, stand over it, and shit on the glass.

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  29. Anton Cigur

    Thanks, Grandpa. I have the impulse control of a toddler with a handgun. Couldn’t let Fly be the only resident of Crazy Town after posting his WB buy.

    Besides, I have it on good authority that Baron Von Paulson is putting us on “the goat standard” this weekend and will be making possession of both hair and money a capital offense by Monday.

    Drink up!

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  30. JakeGint

    Anton, you got out in time.

    I heard the “specie” for this WB deal is six Romanian shekels and a burlap kilt.

    __________

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  31. ZenProfit

    AC:
    For an amateur, you did good boy. Congrats. The Fly makes it look easy. I toast you.

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  32. mrkcbill

    Fly did you buy Good Bank or Bad Bank?

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  33. aristotle

    Zen, I agree. he makes it look easy. Even fucks up with confidence. his confidence on Citi is amazing.

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  34. Anton Cigur

    Jake & Zen,

    Yes, Fly makes it look easy. It’s like being the Germanian berserker or Maximus’s black friend following him into the Coliseum.

    But this afternoon borders on phone-call-from-the-SEC ridiculous.

    And if I can just do this about 700 more times I’ll be even for the year, lol. Now where’s my burlap kilt?

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  35. Karl Marx

    “phone-call-from-the-SEC ridiculous”

    Bought calls on C and WB at the close and then seconds later saw the merger story and thought “Ho-lee CRAP I love capitalism.”

    But only to hasten its inevitable downfall.

    Of course…

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  36. Groucho Marx

    Gummo? Harpo? Chico? I told you Karl was the funny one.

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  37. Aris

    as a high growth story, RIMM is done. today was the day the blackberry story turned into nothing more than a commodity. they’ve got no other angle besides keeping prices low and squeezing margins. AAPL is going to bury them. blackberries have been around for almost a decade, and iphones have been on the scene for roughly a year, and they’re already causing trouble for RIMM.

    RIMM = UA

    AAPL = NKE

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  38. Anton Cigur

    Karl, Hope you bought those calls “in size” as the pros say. I had dinner awhile back with a guy who had developed some software for options trading. I came away from that dinner thinking I am waaaaay too amateur to fool with puts and calls at this point.

    Jake seems to have pretty good luck with them. Maybe one or more of you guys will do a Peanut Gallery post on your options trading strategies some lazy weekend.

    That is, if the market hasn’t gone all Will Smith “I Am Legend” on us. So far Karl’s “inevitable downfall” project seems right on schedule.

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  39. Hank Paulson

    The Fly will win. I am the decider.

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  40. ATM

    Call service I don’t work.

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  41. DEVILDOG

    Fly, you still holding WB or did you sell during the AH peak? Just curious.

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  42. Anton Cigur

    Both SKF and UYG up slightly AH.

    Strange, no?

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  43. PharmPhucker

    I am tired of all you wall street phuckers crowding out us farmers in the line for ‘gverment handouts. You phuckers get in the back of the line.

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  44. mrkcbill

    Anton Cigur… I noticed that and thought odd no. Those vehicles appear to be somewhat flawed with death and destruction and strength within the same sector. I wish I would of sold my UYG today. This tape is a reflection of our Congressional leader, no. Now you have High Holy days coming up I must say Paulsons timing is brilliant.

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  45. Fly-
    I maybe the anonymous jerk you spoke of earlier. I have followed your blogs since action alert. We all know Cramer = idiot investor, I thought I had graduated but now I see exactly why I should stick to being a small brain who reads and does not post. Sorry to you and anyone I might have offended.

    This is a video of what happens in the thoughts of those under the name anonymous

    http://www.youtube.com/watch?v=9haxOZvlAFs

    Best of luck to all.

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  46. Obama

    Yea, I smoked weed, what you think, of course I got high… that’s the reason we did it.
    bitch, I’m fucking gangster, and I’ll paint that fucking house black, bitches

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  47. Anton Cigur

    mrkcbill,

    The way the inverse etfs work these days, I’m surprised the Deep Blue computer at Proshares hasn’t gone HAL on them and cut off the oxygen to the math geeks who came up with them. I sold the last of my UYG yesterday for a small gain and tried to pick up a little today with a low bid, but missed.

    Got to agree with Todd Harrison and others, including Danny here, who feel the expected bailout bounce is likely to be a bust. Too many people waiting on that like Christmas. Could have been a decent brief rally if they had worked something out by yesterday.

    Totally spaced on Rosh Hashanah being Monday & fiscal year ending Tuesday. They couldn’t make next week any twitchier if they put LSD into the NYC water supply and dropped a thousand tons of spiders on Manhattan.

    Don’t understand, “Now you have High Holy days coming up I must say Paulsons timing is brilliant,” tho. I thought he wanted to get the deal done this week and next week kind of let everybody chill.

    I hope your cost basis is low on the UYG and you can make a move first thing Monday.

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  48. mrkcbill

    AC–Hank Paulson is the smartest guy in that room-head and shoulders above the crowd…it is my belief that this whole thing is being orchestrated to the tea[sic] by Henry. The LEH,AIG,WM,MER,MS,and WB next to follow.. it is with great understanding and calm that he is sewing this together without creating an explosion.

    My hunch is that while all of these holy rollers up on the hill preach tough love economics — we are going to see some nasty wicked shit in the futures market…similar to the rouge trader stuff where we got the .75 morning cut.

    I say they will not be pro-active with this bill but it’ll be reactive instead which sucks…this whole thing will be market driven.

    Went and wrote some CD’s this morning and the young lady at the bank said she was 1 for 6 on car loans in the last 2 days….
    A friend of mine’s wife works in a suburban bank..when a couple went in to cash their CD the bank prez came out and asked them what they were going to do with the money?…was there anything they could do to keep the money..worked em like low end car salesman for like an hour.
    Finally had drinks with a guy last night who said he’s been approached by close to 10 people this week looking for CASH to finish real estate deals in progress. HELLO!!!

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  49. Scully

    Speaking of smartest guys in the room: I don’t trust Jamie Dimon. Hence, went with wife to local bank where lesbian drive thru teller regularly does any (financial) transaction for with a constant grin and without ANY question. With me, no smile takes twice as long. In this case, WaMu check from checking account to ‘cash’ for $17K in 100s takes less than 5 minutes + a lolly-pop for my wife to enjoy….while I…take said fat envelope of Benjis into same bank where non-lesbian (I think) and hotter bank asst, manager immediately opens a FDIC MM @ 4% APY. I know my money is ‘safe’ in WaMu but fuck you very much Jamie…I was only there for the 5% while it lasted.

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  50. Barry Obammy

    Man am i looking stupid tonight! No matter how many times i go back to my pre-rehearsed talking points, this old son of a bitch keeps nailing me and all i can do is put on my goofy smile…. Shit, i can’t wait for this to be over….

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  51. Anton Cigur

    mrkcbill,
    Thanks, understood. “Paulson the Consolidator.” A better legacy than most of his contemporaries in DC will enjoy.

    Have had similar conversations w/bankers over the past several months, btw. Also, when making a withdrawal from a brokerage account last year I got a “what can we do to keep these funds here” treatment that I thought only Bill Gates received. Punch line is I should have allowed myself to be schmoozed. I put the money in a hedge fund!

    This conversation is moot, however, as the candidates are both on the teevee explaining how all our dreams will come true if we only believe.

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  52. Johnny McLame

    Barry, I don’t know what debate your watching but I am feeling and sounding my age and sorry if I keep repeating my hokey sentimental stories designed to tug at the heart strings. This young darkie is clearly jabbing me to death.

    Sarah, flash your boobs or something, dammit.

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  53. The Contractor

    Mark Haines cracks me up.

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  54. John McCain

    Barry,

    How is that skull fucking I just gave you working out for you?

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  55. John McCain

    I have no idea what the fuck I’m talking about and I hope my Depends hold up, but I’m sure my 20th century strategies will get us through the fuckhole I’ve put us into by voting with G.W. Bush 90% of the time.

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  56. John McCain's Doctor
    John McCain's Doctor

    Ummm… Mr. McCain, you’re in no condition to “skull fuck” anyone.

    Your VP candidate is dumber than my babysitter, though just as hot. Still, I don’t want her in the Oval Office protecting the homeland.

    Thanks. Watch that blood pressure.

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  57. John McCain

    Doc, you need to shut the up. Unless you agree to my preexisting conditions I don’t care what you have to say. If, and only if, you can tell me EXACTLY where I left my Metamucil, will I sit down and talk about my health with you.

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  58. Sarah Palin

    I once killed a moose and then skull fucked it.

    Okay, can I be VP now?

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  59. Cindy McCain

    Forget the Metamucil honey, we have all this beer in the fridge.

    Can I get skull fucked now?

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  60. Juice

    you girls are cracking me up with all the skull fucking 🙂

    who wants to skull fuck aahkmenidinnerjahd ?

    Sarah, you there, hon?

    I knew that moose tracker could come in handy.

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  61. S. Palin

    My pastor tried to skull fuck a witch.

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  62. The Fly

    Speaking of skull fucking, anyone see FED today?

    Too bad we are not allowed to short anymore.

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  63. John McSame

    I will cut spending for witches

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  64. Juice

    I noticed FED … theres plenty more where that came from but we won’t be making a dime off that skull fuckery. That dick, Cox is ruining the markets.

    Also, these 2ble etfs are skull fucked . Not only do they not trade close to 2ble, sometimes they go the wrong way. The whole system is kaplooey.

    RUT -0.13%
    TWM -0.90%

    wtf!?!

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  65. The Economy

    um..excuse me, Mr Hussein Obama, why do you want to skull fuck me?

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  66. nncoco

    Brass Balls

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  67. John McSame

    I will outlaw skull fucking

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  68. All the fucks who got rich off this
    All the fucks who got rich off this

    -We’re in the swiss alps, getting massages from big breasted highly skilled servants. Fuck you all, ha ha, economic survival of the fittest.

    -RF

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  69. Katy Perry

    Sarah Palin: “I once killed a moose and then skull fucked it.”

    Y’know, if you’d drop the “once” and “then” outa that line, you’d have a guaranteed Top 40 hit after the election, at least as long as there was a video. Lemme introduce ya to my producer, he’s the guy with the video camera asking when Bristol turns 18…

    nncoco: And as long as we’re talking music and money, you’re after the Glen Garry Glen Ross Ultimate Abuse Mix.

    http://glengarrymix.nadens.com/uamix/

    I bet p=0.8 we get a deal over the weekend. p=0.2 we all end up eating dog food next week. (I agree with Danny’s “we have no edge” point — the only reason I’m long with my pissant savings is that if I’m short and the world really *does* come to an end by this time next week, how the fuck do I collect on the winning bet? It’s like the Pascal’s Wager of trading. One might as well be long.)

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  70. Juice

    If we’re talking music , check out this kid

    http://www.youtube.com/watch?v=AmTBCAUfYkY

    or

    http://www.youtube.com/watch?v=ggUrTEcllXM

    Best kid I’ve ever heard or seen .. he is gonna be HUGE

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  71. mrkcbill

    I’ll nominate this as top 10 funniest threads I’ve ever read.

    Skull Fuck….every American should type that just once.

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  72. Woodshedder

    The Etiquette of Skull-Fucking (10529 hits)
    Category: Romance

    Rating: 0.92 on 29 reviews (Rate this item) (V) X
    Labels:
    Submitted by Vermin (View user info) at 2004-07-28 20:41:38 EDT

    ——————————————————————————–

    To give a good skull-fucking, there are various rules you must follow if you want to do it properly. I have listed them out to aid any up and coming skull-fuckers out there, and to help the technique of any veteren skull-fuckers.

    1) Finding a suitable partner – Because skull-fucking almost invariably ends in the death of the skull-fuckee, you will want to do it to someone you don’t particularly care about. Generally skull fucking a friend or family member is not advised, unless you wish that person to die. You can find plenty of people to skull fuck living on the streets of most major cites. The authorities generally do not put much effort into solving the murders of these lower class citizens, so they are a safe choice to snatch off the street.

    2) Restrain the skull-fuckee – You do not want your skull-fucking partner to be able to move around, If you do not properly restrain your victim, you run the risk of having your penis bitten off. Buy yourself a book of knot tying, and use that with some nylon rope to tie your partner to a sturdy bed,

    3) Gouge out one or both eyeballs – An ice cream scoop can work fairly well to get that pesky eye of its socket. You may find a scalpel will be quicker and more humane though. If you are feeling really adventurous, you can eat the eyeball like a cherry tomato.

    4) Commence skull-fucking – The most satisfying part of the skull fuck is penetrating the eye socket with your penis. Thrust away until you climax. Generally, if you thrust vigorously enough, you will scramble the brain matter of the skull-fuckee so much that by the time you ejaculate, that person will be dead. If they are still alive, you may have to wait until you can achieve another erection so you can continue your skull-fucking session. Trust me, your partner will die eventually.

    5) Dispose of the evidence – I find that eating my skull-fucking partners is the best way to hide their remains. You may find that chopping them up and flushing them down the toilet is more appropriate. Experiment to find what works best for you.

    Happy skull-fucking!

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  73. PharmPhucker

    You people are sick. Seek professional help.

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  74. JakeGint

    Speaking of skull fucking, anyone see FED today?

    Still own the 15’s, from way back this summer.

    Figured shit would start boiling up again by the end of September.

    Did not foresee this latest socialism, however.

    _

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  75. JakeGint

    Shed–

    There was no need for that, really.

    Talk about “killing the joke.” Sometimes, a little restraint goes a long way.

    Off to drink a fifth of Woodford until I forget this entire page, and maybe day.

    ___

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  76. JakeGint

    Bruce may have saved the thread with those two pieces.

    And that Glengary mix was pretty awesome too.

    When are we getting the ability to post vids back, btw?\

    ____

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