I didn’t want to get long egregious amounts of stock; but I had to. My hand was forced by that fucking asshat Ken Lewis, CEO, Bank of America.
Granted, prior to the report that he bought 200,000 shares in the open market, “The Fly” was nibbling on select equities. However, after I was informed of that news, I bought millions worth of a variety of names, namely ABB, FAS, PFG and UYM.
In addition, I hedged out the remainder of my SRS position, going long URE.
I am still short oil, via ERY and DUG. I am prepared to buy them both lower. It really is a negligible pair of positions, in comparison to my new longs.
Bottom line: I am 50% long, 10% short and 40% cash. My neighbors are members of the Italian mafia and I am so fucking sick of this bastard of a market.
Nonetheless, I ended the day higher, thanks in large part to my Godly buys. I’ll have you know, the losses in my shorts were and are entirely meaningless. I will also have you know, I intend on making Donkey Kong coin in EEV, SRS, ERY and DUG, in due time.
NOTE: God willing, I will get the opportunity to buy back FAZ in the low $40’s. God willing.
If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is God. And Zombie is an Asshole
Italian mafia is OK – it’s those Sicilians that you must watch out for.
Short oil itself? or producers? What’s your thoughts on DXO, buy under $2?
Ken Lewis apparently has some wision for BAC’s future.
Nice drop in the WIX today.
Fuck you, Jim Cramer.
The Fly is God. You’re an ugly, bald freak that gives awful advice. Fuck you!
The Fly is God.
lewis also bought countrywide and merrill…
so Lewis buys 200K of stock – is not it like 1.2 million dollars? – and the market goes higher? What is 1.2M to him? We forgot how WB CEO bought 1Million shares at 16 dollars – thats 16 million dollars – just to sell the company at whatever – 5 or 6 dollars.
Fly – what do you think about going ‘all in’ shorting gold?
This is the Raptor speaking:
Gentlemen,
it’s a new year and I see you’re all here again on this fine site. 2009 will be an incredibly awesome year in terms of volatility and, let’s not forget, we all get to FEEL deflationary. I’ve heard it’s like watching paint dry…
Anyway, I’ve done absolutely nothing so far. Well, not true: I’m down 0,2% YTD. I naturally plan on making north of 40% as I did last year. Just watch. My clients would want me to.
First order of business in Q1: buying truck-loads of Norwegian Kroner (NOK), mostly via options. I will probably buy VIX also, whenever that SOB trades below 40.
I wish you a profitable 2009. Have a pleasant evening.
I am going to call Ken Lewis bluff and short 200,000 shares. When all else fails, buy your own company stock to create an illusion that all is well.
God is willing, fly He really is.
Seems He favors you. Must be because you always speak so highly of your wife and family. And you’re humble. And generous. Thank you for that!
500,000 JPM ??
I’m Glad I covered some of my GS shorts at 65. cost basis was 82 so I had a nice gain. Got my ass kicked with SRS but since I bought it at the beginning of the month at 50 it did not hurt that much. There was huge short covering today especially in the banks. They are still in trouble. A one day rally does not change that. Lewis buying stocks shows that he knows that the govt will keep pouring money his way.
Apple soaring
CAP Says:
I am going to call Ken Lewis bluff and short 200,000 shares. When all else fails, buy your own company stock to create an illusion that all is well.
Click to Edit (26 seconds)January 21st, 2009 at 4:25 pm
_____________
I’m with you on this one…..The sky was falling yesterday and one day later all is fine? yeh, bullshit……..
the banks cannot be all better in one day……
this whole day was fucking bullshit…..
I am going to call CAP’s bluff calling Ken Lewis’s bluff.
Who is this God character you keep referring to?
I am GOD
http://www.youtube.com/watch?v=LqeC3BPYTmE
Lewis is a fascist prick.
Dimon bought 500k of JPM back on Jan 16. All of these ass holes know the govt won’t let them fail
The Bears had the bulls but couldn’t press the market lower. Fresh shorts are going to feel some pain. AAPL is up a 10 spot AH
ERY and Fly fuel
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20090121&id=9532752
Kevon Horst, 19, landed his first job over the summer in the booming West Texas oilfields when crude was selling for about $140 a barrel. Horst and about 20 others working a rig near Canadian, about 40 miles from the Oklahoma line, were laid off recently. Gone are his $2,000-a-week job and his apartment.
He and his girlfriend moved in with her mother, and he is struggling to keep up with the $500-a-month payments on his new truck.
“I’m in a bind with it,” Horst said. “No one’s hiring now.”
—
As for the ‘Flaps, he gave back everything he mad yesterday, when he hit 16.3% ytd…
The FUCKERY REPORT:
Todays market action based on reality……total fuckery with whipped cream.
Someone has to explain to me why we’re now taking investment advice from Ken Lewis – the guy who bought Merrill and almost sunk his fucking firm.
i’m ready for a day or two of oversold rallying. the dimon/lewis catalyst is as good as any. hell, C may rally to $5 by friday! lol
anjing-
The bears still have the bulls, as today there was huge short covering. Hell I even covered and took some money off the table. There would have to be a lot more volume for me to believe in this rally. Check out the difference in todays volume in the last hour and yesterday’s in the last hour. I do admit it was a strong move off of 804 for the s&P though
3k BGU from 27. Just got back from a meeting. Huzzah! Should have held that QLD.
BGU is better than blueberry pie!
Crude … is contango unwinding and this what’s happening with ol?
contango -> backwardation = shortage = BUY
vs
backwardation -> contango = surplus = SELL
Fly, you may have oil (integrated companies) wrong, just saying as the guys at CNBC just concurred
AAPL now has over $28 Billion in the bank- damn
Continue to short APOL with impunity
E8…oh no you dihn’t…
What? You’re not gonna blame Obama for the rally?
-DT
Mr. Baldwin … that is one of the greatest scenes in cinema!
“You ask me if I have a God complex”
“Let me tell you something”
“I am God”
Ha … Love it!
T Moe look at the volume on 10/10 and 11/20…. step back from the hourly charts and look at the dailies… as the price was coming down to the lows on 11/20 the selling dried up.
Note that the market closed back inside the range of 10/10. SPY expecting it to trade back up to 01/06.
NOV up almost 11% today.Still dirt cheap.
Braveflaps … not yet but looking “hard” at DXO
Crude … how bout the question of contango unwinding to backwardation?
Definitely was not expecting FAZ to get shit on like it did… I was think a couple points here and there, but to close @ $53?!
My Sicilian heritage appreciates your picture Godfather Fly.
ZM
Banks are dieing because of the decline in the value of their assets as well as defaults in securities. I cant wait for these banks to end the bullshit drop their stocks to a dollar while I making dump trucks of loot on inverse etfs.
Than use the coin i made shorting their asses to buy their bullshit stock and make more money… Correct
long bond getting croaked today, positive for equities
The Fly says, “I intend on making Donkey Kong coin in EEV (59.59 ?11.39%), SRS, ERY and DUG, in due time.
NOTE: God willing, I will get the opportunity to buy back FAZ in the low $40’s. God willing.”
No doubt, you will bank coin in those names. I bought small amounts of all of them today—on a hunch we close down big by Friday’s close. It’s purely for entertainment purposes only.
Currently 46% in cash.
Didn’t we see this movie before LEH,WB,Countrywide,WAMU,AIG,etc.etc…… same shit.
Jim “baggins” Goldman is definitely being paid off by apple to be their little “good hobbit”.
does he get Asshat of the month for Jan 2009?
E8, I was referring to your mentioning a Fly opinion and CNBC consensus in the same sentence.
I’m leaning bearish but I can’t figure oils out at all so haven’t gone near it. Same with gold.
Best of luck to you for sure-
mrkcbill-
Good point.
Yo Donny – i knew i liked you – better than 150 mph!
Don’t forget about this one…
“Interest; Are you interested? I know you are because
it’s fuck or walk! you close or you HIT THE BRICKS!”
http://www.youtube.com/watch?v=wVQPY4LlbJ4
Nice pick up on FAS today buddy. i don’t know what that mippet was talking abouot questioning your stop ($7). Who needs stops when sheet is going up?
mrkcbill,
We’ve also seen the Market bounce off these levels and absolutely fucking deBall the shorts.
Same Shit? Right?
truth is all the bears are shitting in their pockets thinking what will happen to their iETFs if we go back to DJI 9000 and SP500 940…
Amen, Green.
And mad props to Thunderpup today.
Live to win!
http://www.youtube.com/watch?v=JOfOjXywdbo
A fitting end to the day.
Here goes Cramer again blaming the shorts. Hey Cramer the banks are lying sacks of shit
Upon review of my charts, I have determined that we are making an inverse head and shoulders on the daily and weeklies of the Dow and S&P. Provided we don’t drop 500 Dow points tomorrow, long here is a very sensible move. I will still short BAC here and onwards and double up every $1 move higher. Long BGU and TNA as a hedge.
Connected For Life – http://www.youtube.com/watch?v=xXX3fk8vsy0
Shake That Monkey – http://www.youtube.com/watch?v=kj-JGdyWt4A
Connected Fo Life – http://www.dailymotion.com/video/x7zg1b_mack-10-connected-for-life_music
So what is this rally being based on for tomorrow? Lewis buy 200k of his own company which he drove into the ground and now using the fact that the gov has injected coin ? This doesn’t mean shit banks are fucked up the poop valve.
Connected Fo Life – http://www.youtube.com/watch?v=xXX3fk8vsy0
Connected Fo Life – http://www.youtube.com/watch?v=xXX3fk8vsy0
Lewis and Dimon are fascist f@cktards. I hope their dick falls off.
Lewis is trying to save his Job. He’s looking fired.
You guys that are shorting in this volatility range are going to be flippin burgers.
no shorting until we get back to SP 900 at least
Tomorrow- a great awakener, expect disruption, and radical discontinuity.
.
I remember when the Merill deal by BOA was announced and I was shocked at the price – I thought, hell, this crisis must not be too bad if they offer that kind of money. C and BOA look done – they need to taken the AIG route.
Lady G – what are you smoking?
she must have the TV on again….that blasted box will wrought your brains out
FLY
Here is a short video from Walstreetpro.
http://www.youtube.com/watch?v=W9WyW-LeVhs
Can you post this link for everyone.
It is his best work yet. I think he lost money on FAZ today.
CLASSIC.
Thanks, man.
Anon, yeah, they need to be turned into zombies like AIG, FNM, FRE, penny stocks trading on the big board, pretending to be for profit go concerns. Yep, good idea, eating human brains to stay alive.
End of the day, I guess I sold uyg so short today for 14% after yesterday. The re-entry point is the question?
i just flicked on CNBC which is saying this is it this is the end… hahahahh
I have a quick question to all that are really on earth regarding the current state.
If you are holding 20k of SRS, SKF, EEV, FAZ
Also 5k of C
Do I have to sit or should I just sell out at a small lose early in the am ? All of this rally bs really doesnt make sense to me. I cant believe for one second that we are going to go green in a big way the rest of the week.
Thoughts
Chow:
Remember my comment from yesterday\
While banks for some stupid reason go up… RIG will fall… XOM is overvalued DUG will rise in the future..
A Quatrain
When idiots buy stocks in oil
the economy will fall
RBM411 will make money and so will the FLY.
I bought some Euro down here with a close stop.
I think we’re going higher as it has broken back up through a moving average trend line I use.
Did you ban me. Ive done three postinand no have been put up.
FLY,
Can you post this? This is his best work yet. I think he lost money on FAZ today based on how pissed he is.
CLASSIC
http://www.youtube.com/user/walstreetpro
http://www.youtube.com/user/walstreetpro
FLY
How come I cant post a youtube video?
not sure about youtube. Our spam filter goes crazy some times.
NEW POST BY FLY
Mike: you need to stop posting vids by walstreetpro.
That racist has nothing of interest to say.
Seriously.
His extracurricular activities have destroyed his ability to cogitate.