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
23,444 Blog Posts

Off to Romania

I had enough of this shit. The market is being run by the lunatics inside of the peanut factory.

I just fell victim to an old fashioned shake out, by selling a variety of longs—thinking the market was about to crap the bed.

Aside from the price action, a few things bother me, namely the incessant move up in t-bills and the collapse of oil. Aside from that, everything is peachy.

I sold out of my GE, BAC positions, but kept KBR, M, ROM, UNH, GME and many others. I bought more FXP, like some sort of crack addicted heroin user. And, I dipped my toes into the empty pool called FAZ.

In short, it’s time for me to get on a plane and head back to Romania. You know, tend to the mountain goats and take in the 3rd world atmosphere.

NOTE
: Before I leave, I am buying a little more FAZ, down $10.

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69 comments

  1. hammer

    Stay here Fly…the 3rd World will be coming to a neighborhood near you.

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  2. Juice

    Tough moment here… feels like the market could go either way but tough to really lay it down one way or the other … though I’m positioned more for a selloff.

    Tough spot.

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  3. scum bucket

    This market is going nowhere fast. You can buy back in cheaper tomorrow, next week, next year. Sucking hairy goats is no way to make a living.

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  4. NOGO

    A few more days like today and i will buy YHOO myself, with beads and shells.

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  5. ZenProfit

    Cramer: M is a buy after they report Nov sales next week.

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  6. Fly Jr

    This 7-11 Dothead on CNBC is spot on.

    Thank you. Come again.

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  7. Guenevere

    I bought BGZ early and sold then bought BGU at 28.20 and sold at 29.10. Its one of those days where I guess you trade both sides. I sold out of my KBR at a 115.00 loss… may go back and buy BGZ here at the end…

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  8. colombian guy

    come to colombia, we can trade from my home.
    we can go to some poor naighborhoods so you can see more clearly , the future of a considerable part of manhattan´s upperscale workforce.

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  9. Neil Sedaka

    Bennet Sedacca

    02:55:00 PM

    No positions in stocks mentioned.

    Is oil appproaching a near term low?

    Earlier this year I highlighted a ‘bubble comparison chart of the NDX, S&P Supercomposite, Chinese stocks and Earl.

    Amazing how it played out. See an updated chart below as well as the original.

    Original

    https://admin.minyanville.com/assets/FCK_Aug2007/File/December08/sg2008120252644.gif

    Updated

    https://admin.minyanville.com/assets/FCK_Aug2007/File/December08/sg2008120252482.gif

    If history repeats/rhymes, we may be getting close to a trade-able low.

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  10. Fly Jr

    ERX prints $45+ this week. Only those with elephant nads need apply

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  11. http://i203.photobucket.com/albums/aa37/chuckitallin/colonel_klink.jpg

    Fly — Before you go to Romania, ask your SO if there was any truth to that bond default story posted earlier today…

    _______

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  12. 4fl3x

    Headline on Bloomberg TV said “Seagate, Foster Wheeler and Sears lead Nasdaq higher”, heh. We are fucked.

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  13. Rodney Fucking Dangerfield
    Rodney Fucking Dangerfield

    Fuck this shit man I’m going back to the degenerate OTB parlor where at least I can get a hot dog for my losses.

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  14. Donny

    I’m starting to get fucking pissed off now!

    Who are these FUCKING ASS-FUCKS buying these fucking oil co’s?

    You motherfuckers are gonna get killed!

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  15. 4fl3x

    Fly Bottom?

    Hah, just kidding, this is just unreal.

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  16. RC

    All I can say is WOW!

    WOW wow wow wow wow wow.

    Must be the sham.

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  17. Fly Jr

    New infomercial coming out in early 2009:

    Fade the Fly to Huge profits

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  18. aristotle

    Tim Knight is buying OIH and DBA

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  19. Fly Jr

    Grow a pair and buy ERX.

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  20. Yogi & Boo Boo

    hahahahaha This is effin nuts

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  21. ALLPROz

    Goats don’t complain…or critique…

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  22. ALLPROz

    DIG still good….

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  23. punyandy

    Fuck you Devildog, and your bullshit calls.

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  24. scum bucket

    Who are these FUCKING ASS-FUCKS buying these fucking oil co’s?

    Value playas

    You motherfuckers are gonna get killed!

    Yep, those single digit P/Es are gonna go “POOF” with the very next quarterly report.

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  25. ALLPROz

    DEVILhog is right…until he is wrong…odd no?

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  26. cheesefries

    It happens to the best of us fly. Anyone who says they haven’t is either lying or hasn’t traded long.

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  27. 4fl3x

    Somehow I managed to pull a 3 for 3 on my futures trades today. I need a drink.

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  28. me2

    klink..

    it’s gonna happen..unless US decides to bail them out too. That would truly b funny..and then what happens afterwards..the end of the civilization as we know it.

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  29. Fly Jr

    Fly can hedge his picks with his 2009 infomercial:

    “Fade the Fly to HUGE Profits”

    he can hire that sham wow dude as the pitch man

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  30. Jakegint

    Me2 —

    Latin America defaults on its debt all the time. Twice last Wednesday, as I recall.

    _______

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  31. Shorty

    I told ya so, Fly. The change in policy at the Fed will keep this market moving higher. They don’t care about the dollar anymore because they figure that the dollar is too important to the world for anyone to sell it down. They didn’t want to do it, but they have no choice. Financials will continue moving northward in my opinion. The ones that don’t follow the upward movement, will be bailed out until they too follow the trend. No financial institution will be allowed to fail.

    I wouldn’t buy FAZ because you will be fighting the Fed in doing so. They have unlimited funds unlike you.

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  32. Romanian women have hairy armpits…my weakness…

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  33. ALLPROa

    FAZ will hurt you…

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  34. Donny

    scum bucket-

    I know who is buying the fucking oil co’s. I’m just pissed off and venting. These motherfuckers don’t have a lot more leeway, with crude threatening to drop lower. It will be like pulling teeth right out of their fucking skulls! I’d like to be holding the pliers, and placing Mr. Cramer in position number one. Motherfucker!

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  35. Fly Jr

    ERX banking serious coin.

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  36. The Fly

    Rushing to get flat, pairing FXP, FAZ buys with GME, KBR and TNA.

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  37. Anton Cigur

    Bot FAZ @ 68 & 66 & 65, FXP @ 51.50 & 51.

    Yes, FAZ will hurt you.

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  38. Al Roker

    This Market is like the weather in Texas…

    …if you don’t like it now…wait 5 minutes…it’ll change !!!

    .

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  39. scum bucket

    Hank Paulson’s Brain sez: I’m thinking of a number between 800 and 900, try to guess what it is. LMAO!!

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  40. ZenProfit

    Today’s 3pm Rally brought to you by The New Guy: http://ibankcoin.com/chart_addict/

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  41. cheesefries

    This market is going higher.

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  42. Shorty

    Scum, You forgot the stutters.

    “I-I-I’m thinkkkking of a n-n-nnnumber bet-t-tween 800 an and 900…”

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  43. Karl Marx

    Quick – under my beard!!

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  44. RC

    it would be awesome if we just shit the shower here and closed in the red.

    this is insane action.

    WOW!

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  45. Karl Marx

    Scheize!!

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  46. Fly Jr

    Oil is going higher. Anyone who thinks differently is a lemming. You think the Towel heads will keep it under $50?

    COP, XOM are money machines and cash cows with safe growing dividends.

    ERX is a no-brainer

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  47. Karl Marx

    My beard is shitting ITSELF!!!

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  48. cheesefries

    We are at a bottom of epic proportions.

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  49. Jakegint

    This is awesome:

    Meredith Whitney’s asshat husband gets into the fake Viagra bidness.

    (Hat tip to Stockjockey)

    +_________

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  50. Donny

    Fly Jr-

    COP & XOM are Whorehouses!

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  51. Jakegint

    840 still a chancre.

    What we need is UUP to bust $26.55 to the downside, with “authoritah.”

    ___________

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  52. Total the French energy concern is looking at buying NXY…Canada’s 4 th largest independent E&P play…..was wondering when the first Take out/under would start in the oil patch

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  53. Anton Cigur

    Re: Meredith Whitney’s asshat husband gets into the fake Viagra bidness.

    (From the article)

    “But today she is being upstaged by her husband’s business, which is on the rise…”

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  54. Fly Jr

    call em what you want – they’ll continue to make mounds of money.

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  55. Scully

    NASDAQ feed halted? 1416.20

    NDX100 stuck since 15:06

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  56. Anton Cigur

    I have dated women as crazy as FAZ, but not many of them.

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  57. cheesefries

    Volatility increases dramatically near major turning points in the market.

    http://images.newsmax.com/teaser/SP500index2.jpg

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  58. juice

    insane volatility

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  59. scum bucket

    Donny, The bigger they are, the harder they fall. Take a look at PTR, GE. XOM is next. $25 book value $25. LMAO!!

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  60. cheesefries

    You can’t get a sentence in around here without a FXP,FAZ, or SKF. Major squeeze coming…

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  61. Scully

    Sold 500 WLP @ 33.75 from 32.50

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  62. shorty

    FAZ = F(uck-ya up the) AZ!

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  63. Jakegint

    close @ HOD, mofo!

    _________

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  64. Anton Cigur

    Shorty,
    She said she was Greek, but I had nooooo idea…

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  65. Fly Jr

    Made glorious amounts in ERX – closed at $37.66. Will see $45+ this week.

    XOM up 4%. I don’t think they’ll be begging for TARP money anytime soon. Oil is going back to $75+ in 2009.

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  66. New Poster

    Clown on CNBC this morning said however the market ended yesterday (-600), the last hour will be the polar opposite.

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  67. Andras

    Being from Hungary, which is a neighbouring country to Romania, it’s funny to read your desire to tend goats over here. I guess it’s a fine way of chilling out after the stress of the market. But how did you come to pick on Romania out of all 200 or so countries???

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  68. DEVILDOG

    New LOWS this month. DOWN tomorrow to new week lows.

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  69. sporting wood

    hey listen up you fagots..FAZ will not hurt you..poor timeing will hurt..thats it..thats all there is..

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