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
23,433 Blog Posts

Trading From 10,000 Feet Above

You fuckers need to understand something:

“The Fly” is up more than 45% this year. In other words, I can afford to take chances that most of you cannot. Sure, I sold my inverse etf’s today, then went long, betting on some sort of miraculous turnaround. But, even if I am wrong, what am I risking? Money?

Money is an ass.

I still have more than 30% cash and a whole lot of leverage, if needed. So, basically, I am just moonlighting, trying to pick off a few good scalps, while drinking my excessively large can of Monster Energy Soda.

Much to my chagrin, the trading desk is having “technical difficulties” this morning, which in turn is encouraging me to murder my trader/servant.

I have all sorts of fun shit to do today, none of which is of any concern of yours, by the way. Just know, “The Fly” is kicking the chicken livers out of idle chickens and his football team is undefeated this year.

Top picks: [[UYG]] , National-Oilwell Varco, Inc. [[NOV]] , [[DIG]] , The Mosaic Company [[MOS]] , [[EEM]]

UPDATE: I am down to 25% cash. I will freeze all additional buys until tomorrow.

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84 comments

  1. 4fl3x

    What kind of fun are you planning? Going trick or treating?

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  2. The Fly

    Citadels top holdings:

    COMCAST HOLDINGS CORP ZONES CV2% PCS $8,885,975 $0 0.00% 253,885,000
    TRIBUNE CO NEW SB DB EXCH2%29 $3,874,751 $177 0.00% 153,455,500
    GENERAL MTRS CORP DEB SR CV C 33 $3,842,396 $508,500 15.25% 680,070,000
    GENERAL MTRS CORP DEB SR CONV B $1,084,226 $666,824 159.76% 195,004,700
    GOOGLE INC CL A $188,513 $69,393 58.25% 555,609
    MICROSOFT CORP COM $186,710 $186,710 New 8,502,290
    VIACOM INC NEW CL B $138,792 $44,275 46.84% 7,224,994
    COCA COLA CO COM $133,769 $107,973 418.58% 3,214,818
    EXXON MOBIL CORP COM $132,313 $45,123 51.75% 1,916,469
    LIBERTY MEDIA CORP NEW ENT COM SER A $129,319 $14,929 13.05% 7,729,779
    NEWS CORP CL A $122,891 $21,398 21.08% 14,509,007
    GENENTECH INC COM NEW $118,632 $70,816 148.10% 1,485,871
    KROGER CO COM $105,951 ($61,884) (36.87%) 4,014,824
    CELGENE CORP COM $95,664 $82,883 648.53% 1,664,582
    CME GROUP INC COM $94,755 $94,755 New 377,210
    COVIDIEN LTD COM $91,864 $18,753 25.65% 2,217,866
    UNITED PARCEL SERVICE I… CL B $91,403 $66,222 262.99% 1,963,542
    APPLE INC COM $90,387 $61,969 218.06% 937,820
    FAMILY DLR STORES INC COM $83,009 $21,848 35.72% 3,313,730
    BARRICK GOLD CORP

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  3. DEVILDOG

    Fly and Mr. EB are idiots. Odd no?

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  4. The Fly

    Devilfrog:

    Don’t you have some heroin to inject into your skull?

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  5. j

    Dog

    Where the fuck have you been?

    Dude, you have until tomorrow on calling the crash or you’re out for the count.

    (Fly

    Show some fucking respect to the dog. He’s a vet fro crying out loud.)

    Dog

    Sorry about the fly. His manners are appalling.

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  6. 4fl3x

    Fly do you have a second choice to EEM? Something a lil bit more Chinese 😛

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  7. hk.slanteyes

    yes fly I concur.
    this is the week of buy, buy , buy.

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  8. j

    Fly, Maybe Dog whacks off a little too much…but ya gotta give him some slack

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  9. marlin y

    Fuck you J. Just because someone is a vet doesn’t mean you have to bend down and swallow their shit.

    Respect goes both ways. Always.

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  10. Big Mike

    “his football team is undefeated this year.”

    You a Titans fan? You moved down a notch from my book; that puts you on notch -1.

    Anybody noticed we can’t break 8200 DOW? Volume is light; I think selling may be finally exhausting.

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  11. Thunderpup

    Fly/Dog trash talk is fun – lighten up.

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  12. The Fly

    No disrespect to ‘Nam Vets, since my Father is one.

    However, Dog does heroin. I can tell by his posting habits.

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  13. The Fly

    READY TO BREAK THE FUCK OUT.

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  14. j

    oops, you’re right marlin. Never saw the Dog’s cheerful comment.

    He fucking deserves a body slam for talking like that on this gentleman’s site.

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  15. The Fly

    Mike:

    Big Titans fan, dating back to the Oilers/Moon era.

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  16. alf44

    “Money is an ass.”

    —————————–

    Hmmmmm…

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  17. j

    # j Says:

    Fly, Maybe Dog whacks off a little too much…but ya gotta give him some slack
    October 27th, 2008 at 11:05 am

    The person stealing my moniker, please fuck off.

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  18. Ray Ray

    Fly – you ever been to Nasville before…did you go see Opryland?

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  19. Mr. EB

    I sold my burritos and consolidated into chips just now. The burrito profit was very tasty past few days. I’m glad THE FLY is on my side. Things are looking up. Bull up dudes. Mr. EB is very profitable today. Boo yah!

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  20. New Hampshire

    Here’s the problem with DevilDog: he has a thesis and he is either unwilling to change it as conditions warrant, or else he doesn’t even know how to play his own thesis.

    We are going higher today, so rather than make some money DevilDog will simply postpone (again!) his prediction for the crash.

    Way to go, Dog. Don’t play with dad’s million yet! LOL

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  21. The Fly

    ROFL @ROFL @ROFL

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  22. j

    Mr. Ed

    Will you please STFU about third world slop. It’s putting me off my late late supper.

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  23. j

    Dog,

    You’re closing that fucking position tomorrow afternoon, right? You’re not sending dad to the poor house are you?

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  24. The Fly

    I’d never go to Nashville without my machine gun.

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  25. The Fly

    Hey Cap:

    Get ready to suck your own dick again.

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  26. Thunderpup

    Trish Regan talking about bottoms is getting me hot.

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  27. TraderCaddy

    UYG is pure 100% unadulterated crap.
    Just leverage up on XLF and or KBE and or KRE (if regionals are doing well).

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  28. Mr. EB

    Devildog calling FLY and me idiots on the day we’re printing money, Odd no?

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  29. Ass Napkin Mike

    FLY

    Here is the game plan:

    Short EEV-SKF-SRS right before the rate cut. Then cover the next morning and get long.

    Easy money.

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  30. Big Mike

    “Big Titans fan, dating back to the Oilers/Moon era.”

    Well, well…may the best man win… I’ve been a Colts fan since my college days;

    Titans will lose and that will be the catalyst for a market reversal…

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  31. FXP was a buy at $100 last Tuesday – now at $170 – I am crying – actually crying.

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  32. BOOMER

    You can borrow mine, Fly.

    Rumor has it that Fly is in Nashville for Monday night football.

    Odd, no?

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  33. Nashville

    The FLy is in my city. I guess he is looking to score coke from cab drivers. Rumor has it that he is sitting outside infront of the Comfort Inn jumping in and out of cabs trying to score.

    I will be sending over an undercover rag head to see if he falls for hte bait.

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  34. market with attitude

    thought you had me figured out, huh?

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  35. j

    Oct. 27 (Bloomberg) — European Central Bank President Jean- Claude Trichet said the bank may cut interest rates again at its next policy meeting on Nov. 6 as the financial market crisis damps inflation pressures.

    “I consider it possible that the Governing Council would decrease interest rates once again at its next meeting,” Trichet said in a speech in Madrid today. “It is not a certainty, it is a possibility.”

    Hey take your time Trich. why the rush? Don’t even give it a second thought the Eurotrash economy is imploding into a black hole.

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  36. kidstock

    Fly,

    Does plunging home inventory headline give potential to homies on the long side?

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  37. Steph

    I like this backing and filling. Don’t go up too much, don’t go down too much. Volatility down. Enough with the giant swings. I don’t want a huge one day rally any more than a collapse.

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  38. Donny

    Donny is now placing relatively small bets with Dennis Kneale’s money. Trader Donny’s gains this year are fucking perverted, disgusting and should probably be against the law. He is 90% cash, and now plays just for the sport. Kinda Sick, No-Yes?

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  39. TraderCaddy

    Leave It To Beaver update.
    Wally and Eddie Haskell will be going down to the drugstore to eat hamburgers and then go to the movies. Wally is hoping Mary Ellen Rogers will be there.
    I hope Wally brings protection.

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  40. DEVILDOG

    The FED is dead. Whatever, they do it won’t save the fucktarded bulls. Fly, Mr. EB, j and Steph are going to lose their ass. Odd no?

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  41. DEVILDOG

    BTW, Mr. Market I’ve gone sailing. Fuck you.

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  42. Fab

    SRS – locked and loaded

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  43. DEVILDOG

    Fuck AXEMAN too. You’re all very stupid losers.

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  44. DEVILDOG

    Donny is a punk.

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  45. j

    dog

    I have very little stocks.

    Long gold and long Aussie ag Stg.

    I had some index long on friday and made a little bit of money which I blew out.

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  46. Donny

    DD … I find nothing wrong with glory and boasting sweet victory, BUT when you start going after The creator of this very venue that we trade ideas, I think it’s fucktarded.

    Quit being a fucking asshole!

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  47. London

    here’s a “leverage without leverage” tip: Short EEV rather than buy EEM – EEV has cap of $300M compared to EEMs $20B – EEV will do one of those patented ultra-ETF wild-ass overreactions on any “whaddaya mean the world isn’t ending” bounce.

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  48. Thunderpup

    This market can’t stay boring for long. We’re all volatility crack addicts now.

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  49. The Fly

    I cannot recommend anything, based upon housing. That’s just weird.

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  50. j

    MS is taking it up the backside again today. Bet the japs must be pleased with their “investment”

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  51. Skates

    MS will be okay long term…

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  52. DEVILDOG

    Fly, real funny how all your top picks are red. What an asshat.

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  53. wtf?

    anyone looking at copper today?

    it is at its highs.

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  54. The Fly

    How so, Dog?

    I just started buying them today.

    With reference to NOV and NOV, I will bring my cost in line and sell for a profit.

    Watch me you fucking junkie bastard!

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  55. Lucky Razorback

    The markets are coiling up for a big move.

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  56. j

    Dog

    what are you doing with your position tomorrow if all this crash stuff doesn’t work out.

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  57. aggiealum

    XLF up 2.88%, IYG up 1.16%, but UYG down 1.82%… Is UYG about to bust a nut or what?

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  58. DEVILDOG

    kidstock, plunging home inventory? You’ve gotta be the stupidest moron on the block.

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  59. j

    Skates
    It can’t recover . Look at its market cap. It’s basically fucked, me thinks.

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  60. wtf?

    fly,

    you like fcx heah?

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  61. hk.slanteyes

    taking a big bite out of ag’s and oil, scale in the rest
    china mobile on the am. This is so much like 87. time to bank
    coin. nothing like like fear to make the pecker grow harder.

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  62. Mr Market

    DEVILDOG is going sailing alright…sailing down into the abyss of obscurity as his daddies money evaporates. Dad must be so proud.

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  63. Steph

    anyone looking at copper today?

    it is at its highs.

    Uh huh, I bought some FCX based on that action this morning.

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  64. DEVILDOG

    j, As I said in my post on Friday, I’m not telling you idiots anything anymore. I’m tired of trying to have an intelligent conversation with idiots that know nothing about the economy, culture, history or have any vision. I’m up 6.5% today and I’m staying 185% SHORT for some time. How long? Longer than tomorrow even with a crash. How much longer? You idiots that know everything figure it out.

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  65. j

    Fuck you mr market…that’s my ass lover you are talking about.

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  66. j

    Dog

    Why the friggen attitude ? What the fuck have I done to you? In fact I defended you at one time.

    I am genuinely worried for you running 185% margained and think you ought to keep to your thesis with tomorrow being the end game.

    that’s all.

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  67. j

    # j Says:

    Fuck you mr market…that’s my ass lover you are talking about.
    October 27th, 2008 at 12:15 pm

    Is that you pretending you’re me Anton?

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  68. The Fly

    Go fuck a dozen eggs, junkie!!

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  69. hk.slanteyes

    devil dog if everyone doesn’t die tonight what is your
    position.calm down, you need to think about a hedge.

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  70. j

    nothing about the economy, culture, history or have any vision

    I know all that shit dog. Even been to the ballet a coupla times. Don’t flatter yourself. there’s plenty of cultured gents here.

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  71. Mr. EB

    The problem with SDP is it trades by appointment. When I bring up a multi-day chart, all I see are dots not a line. Devildog, be careful. You won’t be able to get out when you want to.

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  72. Lucky Razorback

    The market is setting up for a really big move down. IWM and MDY have already breached the 10/10 lows. Expect SPY to breach that level very soon as well.

    I think this will be the final leg down before a big multi week/month rally. It’s just a question of how far down intraday we’ll go.

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  73. The Fly

    Devil Dog is fucking toasty.

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  74. The Fly

    Wrong. We’re going higher today.

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  75. CAP

    We must be near a bottom. Everyone here is so agitated.

    ‘Go fuck a dozen eggs, junkie!!’

    ‘Fuck you mr market…that’s my ass lover you are talking about.’

    ‘Quit being a fucking asshole!’

    ‘You’ve gotta be the stupidest moron on the block.’

    ‘Get ready to suck your own dick again.’

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  76. Mr Market

    Burning DEVILDOG…nasty smell.

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  77. Thunderpup

    Market sure likes these fuggin triangles lately.

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  78. CAP

    All rallies should be sold. This ‘rally’ ( if you can call it one LOL) will end by tomorrow AM.

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  79. hk.slanteyes

    Ihave never stayed up so late since my third wife left
    and took the credit cards. This is the buy ,enjoy the ride.
    luv you mother fucker,keep it hard.

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  80. j

    technically it will end this afternoon Cap… if it rallies.

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  81. Donny

    J-

    Are you still relying on technicals?

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  82. marlin y

    DevilFuck is a moron and not for his market stance. If you want to short, fine, but SRS SKF not fucking SDP which trades 50k a day. How can you listen to a guy who puts all his eggs in a 50k a day trading vehicle?

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  83. Thunderpup

    Chip stocks have lit up – definately a bullish sign

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  84. Pro Scalper

    Is there a bigger asshat than Dennis Kneale?

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