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
23,452 Blog Posts

Rebalancing

I sold out of my TNA, just south of $24.25.

I bought REW, just south of $81.40, SRS, south of  $61.90, DUG, south of $25.80 and EEV, south of $64.40. Also, almost forgot, I sold out of URE around $4.35.

Currently, I am 45% long, 40% short and 15% cash.

UPDATE: I sold out of ABB, just south of $12.30

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42 comments

  1. Sir Douchebag

    Let me know when you’re 100% short so I can cover.

    Going long yesterday was a clear signal this rally was doomed.

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  2. The Fly

    You Mother wears a jock strap.

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  3. alphadawgg

    15% cash now? I knew you couldn’t live the life of a retiree.

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  4. The Fly

    I just wanted to sort of slow things down.

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  5. 1873

    I feel better knowing you have some shorts.

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  6. Aris

    M$FT’s problems are more a result of their bloated, crappy organization than the economy.

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  7. The Fly

    Aris:

    Are you making a case for a strong economy?

    Your logic escapes me.

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  8. anjing bau

    TLT heading back to the gap betwenn 105 107 broke the 111 swing point…volume looks to be accelerating 600K in first 30 minutes current 50 dma is 2.5M shares

    money moving from bonds going where? currencies equities

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  9. OnStar

    Microsoft, this is OnStar…I just received a signal that you have been in a crash…

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  10. Goldie

    Fuck you MSFT!!! I was gonna short your ass today and you fucked me with your shitty pre-announement!

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  11. Basil

    Come on down to Los Cabos 82 today.You may not trade better but you will be warmer.

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  12. T MOE

    AAPL on thing holding the S&P from falling into the funnel

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  13. MOOBER

    I bout 500 FAS @ 8.7 for FUN

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  14. Juice

    I am warning you … do not get all beared up today

    money is coming out of bonds … if that keeps up, look for it to find a cardboard box home in stocks

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  15. TheArtist

    90% of everyone interviewed on CNBC is a lying sack of shit…..

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  16. j

    Who are the 10%

    I’m with you, juice. Bear markets are so yesterday.

    But seriously this market doesn’t look fragile at all like it did in the earlier part of the week and even then people were spooked because a couple of limey banks were fucked.

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  17. The Fly

    money has been blowing out of uk bonds too.

    And down she goes.

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  18. 4fl3x

    It takes a man a long time to learn all the lessons of his mistakes.

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  19. TheArtist

    J, the 10% would be the people telling the truth……you be the judge…..

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  20. j

    Artist:

    if 90% of the people on there are lying then you know the truth so what the big deal.

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  21. Needle dick the bug fucker
    Needle dick the bug fucker

    I just read the Continental Airline Q report. They took a loss in fuel hedging so I thought I would take a look at how this hedging and the counter party bankrupcy reads out. I found an artical and below is a snip it.

    They are also exempt from regulatory scrutiny and, unlike exchange-traded contracts, not marked to market until the contract comes to term and the settlement payment between the parties is computed and paid. This means that there is almost complete opacity about the obligations undertaken by an issuer of derivative contracts, and that their financial situation can deteriorate to the brink of insolvency without any indication of the approaching crisis until a payment comes due and there isn’t any money to make it.

    NOT MARKED TO MARKET!, So this means that AIG or the institutional counter party has no idea how much profit, loss or value these contracts are worth until it comes to term? I don’t believe it.

    Can some one take this further. Is this how most of these so called hedges work.

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  22. Aris

    fly, no, nothing that extreme. i’m in seattle and have a few MSFT friends. the only word to use for the management structure and ballmer is disaster. the amplification from that is pulling the company down more than the weak economy.

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  23. Whatever

    I smell a paper trader…

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  24. j

    Needle dick

    You don’t understand what’s happening. they buy the hedge which in all probability is an option or forward contract.

    If they buy an option they simply pay the money up front and be done with it. If they buy a forward there wouldn’t be any counterpart in the world that would not demand margin replenishment from a US airline.

    So you’re lateral thinking is a little too lateral.

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  25. TheArtist

    America is a land full of dumbasses, these dumbasses watch CNBC and believe what comes out of the mouths of the lying sacks of shit interviewed on CNBC and therefore, act on the advice given by said sacks of lying shit and then these dumbasses get caught in a trap and then we have the FUCKERY in the market that we are witness to right now……… If I have to explain any further, just go back to playing your video games…….

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  26. Juice

    AFLac

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  27. Henry Fool

    buying lotto ticket

    NG @ 1.75

    Gold stocks look strong

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  28. JAF Observer

    The signal to get out of MSFT came a couple years ago when Balmer came out on stage, running and jumping, trying to act cool like Steve Jobs over at leaner and meaner Apple. Well Balmer almost dropped dead of a heart attack. Of course, it was the only 10 seconds of cardio the guy had seen since the 80’s…so it was of little surprise to see him ghasping for air. But this was symbolic of the differences between the two companies…MSFT was bloated, fat, contented. Balmer must go.

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  29. j

    Artist

    Seriously, why are you getting snarky with me.

    You said 90% of the people on CNBC are bullshitting. Theoretically therefore you are able to discern the truth 100%.

    This is like a little IQ puzzle.

    If you say 90% of the people on CNBC are liars it means that you can tell that 10% are truthful and therefore 90% are dishonest. So you are therefore able to know the truth 100% of the time.

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  30. little2rich4u

    Fly,

    Put your best customers in POT.
    Put your worst customers in MSFT.

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  31. Phil_from_Brazil

    For every AAPL (which, by the way, only grew net by 1% — iPod sales fell short of expectations), you get a NOK (69% drop in profit), a MSFT (11% drop in profit),worse-than-expected jobless claims (589,000 for the week ending Jan 17), worse-than-expected housing starts (down 15.5% in December).

    Welcome to the Global Depression.

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

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  32. T MOE

    MOney blowing out of UK bonds is flowing into the dollar, much like it did in the depression

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  33. Big Mike

    Please…give John Thain a “DIAMOND parachute”…and Ken Lewis a kryptonite triple parachute…

    After all, these man are GREAT AMERICANS…ultimate distributors of mustard seeds.

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  34. j_remington

    Good job. Reduce both long and short exposure until you see a clear direction.

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  35. T MOE

    So Lewis is going to blame everything on Thain. Why doesn’t he just admit it? Thain took his ass to the tool shed. Thain is a lying sack of shit, but he sure got one over on Lewis who looks like the dumbass trying to save his job

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  36. Needle dick the bug fucker
    Needle dick the bug fucker

    J

    If they buy an option they simply pay the money up front and be done with it. If they buy a forward there wouldn’t be any counterpart in the world that would not demand margin replenishment from a US airline.

    Ah I see, so J your saying that CAL most likely bought a fwd contract. I understand the option, but the fwd does not get priced until it come to term? Then the parties pay. I need to read up on fwd’s.

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  37. Phil_from_Brazil

    For every AAPL (which, by the way, only grew net by 1% — iPod sales fell short of expectations), you get a NOK (69% drop in profit), a MSFT (11% drop in profit),worse-than-expected jobless claims (589,000 for the week ending Jan 17), worse-than-expected housing starts (down 15.5% in December).
    Welcome to the Global Depression, my friend.

    America is getting SLAP CHOPPED!

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  38. Lady Guenevere

    Someone asked about the weather here today- 72 degrees and sunny, my windows and patio door are open getting fresh air, my cats are sunning on the balcony. A great day for tennis and some après tennis spirits/dining

    Hey SRS is going to town today I bought some this morning 61.79
    .

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  39. CAP

    Where is DONNY and his ‘Donny buys FAS and its going to $16 guaranteed’ . Har har har har.

    Yesterday was a classic bull trap. Get ready for the bottom to fall out. BAC WFC JPM C all going to get another 50% hair cut in the coming days. FAS to $3. FAZ to $150

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  40. BIG MIKE

    TMOE,

    John Thain is a great american…without him, the financial system would have been in shabbles.

    You are clearly misunderstood…

    Stop blaming shit on good people…like Dick Fuld, John Thain, Hank Paulson, Ken Lewis, Chuck Prince…history will judge these men as patriots.

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  41. The Fly

    new post, fuckers.

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  42. tmob

    j,
    you have the deduction skills of a 6 year old.

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