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
23,585 Blog Posts

The Recession is Back

Okay, no more fucking around with elections and shit. You fuckers need to hedge up and avoid murder holes. They’re all around us. Just when you thought the market was lifting off, BAM, in you go and off goes your head.

First thing this morning, I am getting my brain blown out in BE Aerospace, Inc. [[BEAV]] and American Vanguard Corp. [[AVD]] . The problem with AVD, as you know, is liquidity. I am stuck in this fucker, for good or for worse—sort of like being married with kids.

On the bright side, my hedges are working. Right here, I like [[REW]] , [[SDS]] , [[EEV]] , [[FXP]] and short Petrohawk Energy Corporation [[HK]] . Let it be known, I bought REW and FXP on the opening tick. While it’s true, the market will rally into Thanksgiving. It’s also true that stocks like Apple Inc. [[AAPL]] , Hewlett-Packard Company [[HPQ]] and Research In Motion Limited (USA) [[RIMM]] need to trade down a bit. Hence, I bought REW.

On the back of an Obama mandate, I want to sell oil/gas over and over and over. HK is the worst of them all, with a stock price grotesquely overvalued. Weigh into that fucker, as if it just burgalirized your house and urinated on top of your new car.

Finally, on the long side, I still like banks. As a result, I will not sell the rest of my [[UYG]] or Citigroup Inc. [[C]] . Instead, I will look to buy more on dips. And, I still think the homos at [[M]] go higher.

UPDATE: I bought 3,000 [[REW]] @ $96.04. And, I bought 2,000 [[FXP]] @ $78.10

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63 comments

  1. The Zombie

    “Weigh into that fucker, as if it just burglarized your house and urinated on top of your new car.”

    HA!!

    The Fly is God.

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  2. blowhard

    Fly, thanks for the call on the gay Solars yesterday, paid off nicely today +10pts on FSLR short, will hold short on ENER to 20.

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  3. gappingandyapping
    gappingandyapping

    Bullshit, as soon as people realize that the Messiah will pay for their mortgages and lattes they will have nothing to worry about.

    By the way this is thievery!!! Cunts.

    Obama proposes matching 50% on the dollar for the first $1,000 of retirement-plan contributions for families earning less than $75,000 a year, to encourage savings.

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  4. Alabama Redneck

    Damn, I thought I wuz checking off “gO-BAMA”..what hapened??

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  5. Donny

    That fucker has no mandate!

    This is what mandate looks like:

    http://www.270towin.com/1984_Election/

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  6. blowhard

    Donny,

    Time to move on.

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  7. GW

    The marrage and kids I assume is for good….you can divorce the stock anytime….do it slowly with no liquidity….

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  8. Pro Trader

    Gee The FLY is buying inverse ETF’s and Hedging. Put your ass plugs in longs. If you fallow the FLY you better know your shit and be a very fast trader. Being just a dumb fuck I can only watch and enjoy his moves. Don’t get me wrong I do trade some of his picks but within the limits of my dumb self. And yes it isn’t all that easy.

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  9. The Fly

    Pro Trader:

    Might I suggest you change your moniker to “Rookie Trader”?

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  10. j

    Fly

    BEAV(is) and butthead was a very gay pick, dude.

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  11. Dogwood

    “sort of like being married with kids.”

    Hope the couch is comfy!

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  12. BOOMER

    The picture of Obama is priceless.

    The comedic timing of this site is truly brilliant.

    Some of the funniest shit on the intertubes.

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  13. Dr. Incognito

    I’m mostly cash. Biggest trade is long MRVL.

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  14. The Fly

    J

    you’re a fucking liar.

    Off to buy the Mrs. a gift.

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  15. Mr. EB

    Sold my SRS horribly this morning. Only made 2.4% from yesterday, missed another 4 point rise few minutes later.
    ARGH!

    I’m up 2% on the month now. Back to 96% cash. 4% short.

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  16. Pro Trader

    OK Rookie Trader is great. Since the Fly is the Pro Trader on this site I should be Rookie Trader. After all the Fly calling me some type of a trader is a plus. Fucker

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  17. Paradigm Shift

    CHK is the new black

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  18. Henry Fool

    CHK!

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  19. ok, now what

    Anyone follow healthcare? What are the top generic drug makers?

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  20. T MOE

    here come the integrateds

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  21. gappingandyapping

    CHK just exploding here.

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  22. Big Mike

    Whatever happened to the Contanza trading?

    We will rally until turkey day, god willing…or if UYM reaches 30, when I will make my timely escape…

    FYI: Dougie Kass reads IBC:

    “Our financial system nearly folded under the pressures of the ‘egregious’ use of debt at almost every economic level in the public and private sectors…”

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  23. Jakegint

    On the back of an Obama mandate, I want to sell oil/gas over and over and over.

    “CHK into cash,” mofo (+12%).

    Who, btw, was the absolute dipshit last night saying CHK was going to get smoked today?

    _______

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  24. MarketRaider

    Hey Fly, so now that you ant to sell oil and gas do you think NOV is a sell as well?

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  25. Jakegint

    Okay, get out of those hedges now, Fly.

    ________

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  26. MarketRaider

    Hey Fly, so now that you want to sell oil and gas do you think NOV is a sell as well?

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  27. Jakegint

    NOV is a purchase, with egregious prejudice, right now.

    _____

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  28. ZenProfit

    Mr. Fly:

    With over 1 million hits last month, why aren’t you as suckcessful [sic] as this guy says he is:

    Wallstreetwindow is an online community of independent investors, analysts and newsletter writers helping each other succeed in today’s financial markets with over 80,000 opt-in email subscribers and 140,000 visitors and 350,000 page views a month.

    Wallstreetwindow provides Mike Swanson’s WallStreetWindow Power Investor posts, members blogs, and aggregated article submissions from other websites and blogs across the internet in order to provide visitors with unique actionable investment ideas.

    Can’t wait for the PPT Rollout. Will there be an all-network, 30-minute infomercial to promote the PPT?

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  29. BuyOnTheDip.com

    HK = Hunter Killer.

    DIE FLY DIE.

    $24 or $14 ..?

    hmmmm… game on.

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  30. MarketRaider

    Oops sorry about the double comment.

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  31. Short Ideas

    Hey Fly, I am mulling this one over. How do you like GPC as a short here?

    We are right at the 200 Day MA, it is an auto parts provider. They did announce very nice earnings last quarter though.

    I think a short is in order though.

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  32. Fook

    GST off the CHK pop (CHK is a major holder).

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  33. gappingandyapping

    ALL HAIL THE MESSIAH! I told you I would not have to work and he would pay my bills!!!!

    http://www.bloomberg.com/apps/news?pid=20601087&sid=atIwYdsrtnio&refer=home

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  34. Jakegint

    Gaps, interesting that CLNE is still getting cleaned here.

    ___________

    NOV green.

    _______

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  35. scum bucket

    Tax the crap out of wall street transactions!

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  36. pie eater

    Rumor out about BP buying CHK.

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  37. Obama's New IRS Team
    Obama's New IRS Team

    Looking forward to all your tax audits next year.

    Oh yeah, we know who you all are. Especially Jake.

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  38. boca

    Jake, I noticed the same thing, what’s up with CLNE tanking today if CHK is giving interviews that compressed natural gas is going to do well under Obama? Unless T.Boone Pickens is just raising cash by selling shares…

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  39. The Fly

    Sold out of all my NOV, except for 500 shares in my personal.

    I’ll keep it until 2012.

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  40. Jakegint

    From your mouth to God’s ears Peter Peter Pumpkin eater!

    ________

    IRS Mofo — I gotta file ’em before you can audit ’em.

    Heh.

    _________

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  41. London

    for the love of …anything, what will it take to make people give up on “egregious”?! It’s auto-caricaturing at this point. Thirty years from now whenever that word is read, people will think “that is sooo 2008 … what a stupid year that was, full of ridiculous people”. Like mauve and black in 1982 and avocado kitchens in the 70’s.

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  42. gappingandyapping

    Jake I think they will take everything out on the energy producers, for we don’t need energy anymore. There is so much radiating from the messiah that we can harness all glory!

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  43. Jakegint

    Long 4000 NOV.

    Fo’evah.

    ____________

    Boca — I wouldn’t trust that old windmill humper farther than I could throw him.

    And I could likely throw him a pace.

    __________

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  44. Jakegint

    London,

    Egregious is not even 30% “done” yet.

    Think of it as the new “bloody.”

    _______

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  45. Steph

    Speaking of CHK, you have to imagine uncle Aubrey starts vomiting uncontrollably every time he looks at the stock quote.

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  46. Thunderpup

    Die EDU, you commie piece of scum.

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  47. The Fly

    Hey, at least we have a President who can talk english now.

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  48. BOOMER

    If anyone is interested in CBL, your entry is now. Good luck.

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  49. boca

    ‘Egregious Hell’ instead of “Bloody Hell” ….

    I like it!

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  50. Tick

    Fly,

    What is this shit of banning people for expressing their opinions on these boards?

    Control your employees, these extra tabbers are loose cannons, banning anyone who dares utter things they disagree with.

    Nice communist touch to these boards, I must say.

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  51. boca

    BTW I doubt the IRS will be able to afford the cost of doing a lot of audits, they audit a really tiny percentage now and my guess is it won’t increase.

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  52. The Fly

    Tick:

    I am lost. I have not been following the discussions. However, I will say, I am NOT one of democracy.

    This site here is pure, 100%, unadulterated tyranny.

    Never fuck with “The Fly.”

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  53. Henry Fool

    adding some small cap

    VASC 9.80

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  54. The Fly

    HK to $11 and more!!!

    Do I ever tell a lie?

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  55. Barry O'

    uh, uhm…uh, uh, well, uhhhm, uh…

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  56. Dubya

    Thats what makes us so alike Fly…fool us once shame on us, foolus twice…we won’t get fooled again!

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  57. boca

    That picture of Obama smoking is very similar to the old photos of Humphrey Bogart.

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  58. Henry Fool

    small cap add

    COIN 6.50

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  59. Jakegint

    Hey, at least we have a President who can talk speak English now.

    Having majored in both, I’ll take Econ any day, especially in my President.

    _________

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  60. The Redistributor

    FYI, filtered tobacco is for pussies. I roll my own.

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  61. Jakegint

    Boomer speaks without forked tongue.

    CBL at $8.50- 8.60 (dividend yield 17.3%) is a gift ovah heah.

    They will raise before the year is out.

    _____________

    Purchasing more.

    _________

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  62. Anton Cigur

    Jake,
    Pls slow down w/the CBL. I have a limit order in @ 8.50 and “somebody”
    is keeping the stock levitated just above my sweet, sweet bid.

    _________________________

    “FYI, filtered tobacco is for pussies…”

    Sir, and/or Madam, it is clear to me that you have no idea how to enjoy either.

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  63. fucktard

    The Fly: “Hey, at least we have a President who can talk English now.”

    That was a nucular comment! You are insulting individuals capable of verbaly articulating a sentence of four words or less.

    Jakegint: “Having majored in both, I’ll take Econ any day, especially in my President.”

    Ah Jake! you are concerned the economy and the stock market will reverse the last 8 years of uptrend and go down.

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