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
23,460 Blog Posts

Wall Street Needs More Bonuses

…so I am told by Dennis Kneale. Something tells me that little fucker was dropped on his head as a child.

Up here in NYC, the weather is Godly. However, much to my chagrin, I must ruin this gift, bestowed by Zeus himself, with a visit to my local dentist. I am sure he will go through great lengths to torture me, via his little hand tools, during my cleaning.

The market is very indecisive today, with only gold and silver stocks holding onto gains. As you know, I changed my mind on gold, at least temporarily, to a somewhat bullish opinion, based upon an obvious flight to quality.

Incidentally, gold is now the #1 ranked sector in The PPT. The top 5 ranked securities in gold are EGO, GG, AUY, KGC and IAG. Personally, I think gold/silver stocks are fucking ridiculous. If I wanted precious metal exposure, I’d just buy GLD or SLV.

As an aside, silver has lagged gold significantly. There might be some sort of arb play setting up between gold and silver. But, the whole gold/silver scene is far too “homofied” for me to get involved.

Basically, partly thanks to the inviting weather outside, I have done nothing, all day long. Early this morning, I had nice gains in BUCY, ACM, MT and JRJC. However, they have withered away to nothing. The only thing that has gained ground for me, all day long, are my oil shorts.

In short, as per the paraphrased words of the great Dennis Kneale, “let their be more bonuses for Wall Street. John Thain is a hero!”

UPDATE: My name is Joe Blow from “Fuck You, You’re Dead Holdings” and I have received $25 billion in TARP funds. My salary is $50 million and I have received $300 million in bonuses.

Good Day

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46 comments

  1. kidstock

    The Zombie is a cross dresser…and The Fly is God

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  2. T MOE

    Close below 819 on the S&P and things will get really ugly IMO

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  3. Jed

    mrkcbill ordered himself a pajamagram

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  4. Jed

    Zombie is Maxine Waters secret lover and special Valentine.

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  5. Hasslehoff Houndstooth
    Hasslehoff Houndstooth

    Dennis Kneale is such a generous shit he mails condoms to nuns.

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  6. Itchy & Scratchy

    What’s holding up the market here? It’s going to be many moons until Geithner can get something this complicated going. Already there are articles appearing on Bloomberg calling the plan DOA.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=apJRc8r_9GDE&refer=home

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  7. CAP

    Ah, there goes the market. Gay as ever. Next to gay in the dictionary they have a picture of the NYSE.

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  8. the prof

    half off this POS emini short so I can get on with my day, may tap some maple trees on the property so that my kids can attempt to sneak drinks of sap while I’m away… it’s the kind of day that makes you want to flush your computer monitor down Thain’s commode and go out and enjoy the fresh air…

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  9. Joe

    There are only two stocks to trade in the gold sector
    AEM and SSRI. Made lot of money paper trading them. Wish I was trading with real money.

    I am very intimate with gold sector and charts mean nothing in this sector. Do the opposite of what TA tells you and you’ll end uo ahead. Ex. Gold is braking out today and should go higher but they will get crushed tomorrow if not later today.

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  10. Roger

    Actually CAP…the picture next to gay in the dictionary is of you sucking your own dick.

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  11. dude with common sense
    dude with common sense

    shut the fuck up with all your bullshit calls yesterday i breached 40% up on my account you rember one week ago when you turned bullish o yea the same day i went bearish and benn making money on the short side ever since all you are doing is churning you account how mant times do i have to tell you the VIX NEVER LIES start making some desint calls

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  12. The Fly

    speak english

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  13. hmmmmm

    Is Jamie Dimon’s latest magic trick changing his name to Joe Blow?

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  14. Itchy & Scratchy

    English is a second or third language for many on this board. Spelling is an afterthought.

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  15. Prospectus

    @dude with common sense: “omfglolwtfbbqpunctuationisfurluz3rslololololololol!!!!111z0r”

    That is, of course, written in your own native tongue. As a matter of convenience for the ibankcoin reader with an IQ north of 50, it translates roughly thus:

    “The only thing you ever breached involved WD-40 and a billy goat. Though “short” and “churning” were involved, unfortunately “desint” (sic) wasn’t. Kindly die in a fire, my good man.”

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  16. TheArtist

    repost, it never fails, I always post the last comment as a new thread starts, so here it is again…….

    Today is a very critical day, the end for the DOW today is in fact a most telling sign for the market going forward.

    Oil has hit 36.21
    Gold back up to 942.00
    DOW still at the 7880 level

    Today will be looked back on as the signal day for all ahead, if the DOW ends in red.

    food (or early green pea seeds) for thought.

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  17. CAP

    ROGER- Your moms not dead. Thats what u like to believe since you can’t handle the fact your moms a whore. Now STFU and piss off.

    The market is going to crater into the close. I can feel it. Its begging to drop 200. It sucks that I covered so many shorts. For now I will be content with my victories in GLD and SLV. Adding more POT here. And some FCX. Threw on some USO and UNG just for fun.

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  18. mrkcbill

    Jed trolls Victoria Secrets while mall walking

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  19. The Fly

    gay meatball on tv now

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  20. Joe

    CAP,

    If you think DOW tranks 200 points, which sure looks like it wants to, than GLD and SLV will give up their gains too and I wouldn’t touch FCX

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  21. Roger

    Q: How does CAP’s mom know when her daughter is on the rag?

    A: By the taste of CAPS dick

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  22. TraderCaddy

    I picked this up and if it’s true then the entire US economic system was close to destruction on 9/15/08 when there was an electronic withdrawl of 550 Billion Dollars from US money markets. Apparently Paulson and Bernanke testified to Congress in a closed session the facts.

    http://www.capitalismgonewild.com/2009/02/electronic-run-on-banks-550-billion.html

    Not sure if it’s true or not but is interesting.

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  23. Donny

    I’m stuck in this class and I want kill somebody.

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  24. CAP

    Can someone provide me Dennis Kneale’s email so that I can send him a virus that causes his laptop to explode in his face all while he’s on the CNBC. That would be nice you know seeing Asshat Kneale making dumb comments and than BOOOOOOM Laptop explodes effectively tearing of Dennis KNEALE’S face all on live TV.

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  25. Paradigm Shift

    I think todays Congressional hearings have effectively made a convincing case for less government.

    What a tragic waste of time.

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  26. Scully

    Sold 70% SLV position from 10.5 @ 200DMA

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  27. Joe

    I am new to this board. Can you/how do you ignore a member. I would like to not waste seconds of my life reading what this roger prick has to say

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  28. CAP

    JOE – GOD himself is buying SLV and GLD judging by their charts. I would add more on pullbacks. GLD and SLV are the new TLT. FCX And POT are good on this pullback because the charts are very bullish. Commodity stocks in general are doing well.

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  29. Big Mike

    Anybody thinks Tim Geithner looks like an elf? Like seriously, look at his pointy ears and nose…plus hes smart…

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  30. TraderCaddy

    Donny- Go get the teacher.

    By the way.
    I wonder if all of the Bank CEOs went to lunch together and if they did what did they eat.
    I bet you Ken Lewis took them all to one of his favorite BBQ places (maybe Glory in DC) and they all come back to testify with pulled pork between their teeth and BBQ stains on their ties.

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  31. The Fly

    Geithner is an elf and Obama is Santa Claus.

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  32. TheArtist

    Fly, make a note, CNBC right now is defending the bankers on the floor!!!! as one would expect, CNBC is making jokes of the senators questions and defending the CEO’s that have single handedly brought this countries economic problems to where we are……

    CNBC is truely evil and criminal, and continues to side with the selfish greedy asshole CEO’s……it’s amazing how all the hosts on CNBC will side with any and all the CEO’s to keep getting those $1,000.00 lunches for free…..

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  33. The Chart Addict

    Barney Frank must be the tooth fairy.

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  34. CAP

    GODDAMN IT ! I’m launching a tactical nuclear strikE against CNBC HQ in NYC .Countdown Sequence T -20 , 19,18 ….

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  35. Joe

    CAP,
    I have traded gold since 2000 and done well with it. But, its the most irrational market I know. I think, in paert, because I think its manipulated. The FED will never allow gold to become the new TLT. Fed’s criminals, (JPM, GS) can and do swing this market every which way they want. Its a tiny market. Gold will explode when the lending resumes and inflation kicks in due to velocity of the unGodly amount of FIAT. In the meantime its a great trade with huge swings and I might be making a mistake here but I am not buying it in light of my view that the general market goes considerably lower.

    FCX is a play on recovery and not the antidollar that gold is. its much more correlated than gold with the mareket but I know you already know that.

    GLTA

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  36. TraderCaddy

    And Fly don’t even think about the sharp pick your dentist will use to stab and jab your teeth hoping to find a cavity so he can use his monster drill.
    The only way to make it go quick is eat a pastrami sandwich (between garlic bread) before you go and he may just look at you for a second or two and then let you go.

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  37. mrkcbill

    Scully

    That pic is great…..Top 10 worst photo shop

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  38. malaka

    Why does EEV have AIDS the past two weeks ? I just want this thing to pop up so I can bounce on this piece.

    Any thoughts opinions on where anyone sees EEV going ?

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  39. Bow Tie Fucker

    There bonus are not their…

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  40. CAP

    Joe – As long as GLD and SLV continue to respect their uptrend lines I will stay long. GLD just had a 50 day crossover which is bullish. SLV behaves very bullish too. So I will stay long though I did sell some SLV today because I think its over extended and can expect a pullback to $12.

    As for FCX, It 200 day MA is 65. FCX is currently at 27 and change. I believe it will see a run to its 200 day ma this year. At the very least I expect a move to the low 40s.

    POT has a gap to fill in the 120s and I expect it to get there. Despite market weakness, FCX and POT are way off their NOV. lows which to me in itself is very bullish.

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  41. Joe

    Look at crime in action. They gonna push DOW above 8000

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  42. Lady Guenevere

    On an entirely different subject.

    Watching these stupid commercials targeted to MEN and listening to you guys tell each other to go buy these items…to kiss and make up I have one thing to say.

    Women DO NOT….DO NOT want pajamagrames or Vermont teddy bears for Valentines day. Never buy a woman undergarments and sleepware we hate that. We are not children therefore do not buy us stuff animals.

    Also I recommend you do NOT buy candy for women either. Flowers should be bought on a regular basis and not just one day out of the year. Women really do not respect a man who only manages to buy flowers one time out of the year.

    You can never go wrong with jewelry,perfume(not from the drugstore), a day long spa package, furs,cars,shoes, purses (burberry/Fendi, Jimmy Choo etc.)

    Most importantly guys ….a woman always knows if the gift is selfish or unselfish. Women will secretly resent any gift you give them that benefits YOU or is for YOUR pleasure. Give a gift whatever it is that is solely for her and her pleasure- you get nothing out of it but the joy of seeing her happy.

    Thats all I have to say about Valentine’s Day and those endless dumb commercials.

    .

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  43. D Kneale

    I came in 7th place in my elementry spelling bee contest.
    The farthest west I’ve been is Toledo Ohio.
    I like to collect pretty glasses frames.
    I’ve never actually owned a share of stock.

    I’m Dennis Kneale
    I’m CNBC

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  44. Joe

    CAP,

    Actually gold is forming a golden cross on daily and would ordinarily be very bullish but I am not buying it in the face of a general market sellof heading our way.

    http://stockcharts.com/h-sc/ui

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  45. reader

    The Chart Addict Says:
    Barney Frank must be the tooth fairy
    ——-
    thats really good!

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  46. rainman

    I like YZC. With a price to book of < 1 and a debt to equity of 0.3. Pretty solid room for growth or take over.

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