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
23,445 Blog Posts

Meatball Time

Just in case you missed this—

[youtube:http://www.youtube.com/watch?v=ZysibKNaM1c&feature=subscription 450 300]

In other news, this is one boring market. Remember, try to avoid, at all costs, shorting markets that seem lifeless. The next thing you know, it rises up like a fucking zombie and eats your brains.

Personally, I will remain a stalwart oil bear. In addition, I have minor positions in EEV, REW and SDD.

If you are long refiners, I strongly suggest selling those stocks right now, since the crack spread is starting to disconnect. And, if you are long banks: godspeed.

Top picks: LNN, ERY

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24 comments

  1. The Fly

    This Joe Terranova guy is a fist class asshat. Truly, he has NO IDEA what he speaks of.

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  2. Juice

    Da Flea is a God, in training 😉

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  3. The Zombie

    The Fly is God.

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  4. Juice

    Joey T is an asshat of all trades.

    I only listen to Eric the Oil Barrell Bolling regarding earl.

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  5. watcher

    Boring is right and please explain why “crack spread disconnect” is relevant to refiners. I’m sure I could google it somewhere but I’d be grateful for a few words from Senor Tropicana

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  6. Juice

    Refiners don’t look very fine here.

    I’m shorting them, with gusto. 8)

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  7. The Fly

    Crack spread is tightening. Hence, lower profits for refiners.

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  8. Any SRS traders want to comment???

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  9. anonymous to you sir
    anonymous to you sir

    Hi-fucking-larious! Really brightened my day.
    thanks!

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  10. test

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  11. Big Mike

    Sooo…Jamie Dimon wants to return TARP money ehh?

    What a fucking crock of shit…

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  12. “Any SRS traders want to comment???”

    Yes: Fuck SRS.

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  13. Cash-N-Guns

    financial fuckery on its way…short squeeze to clean out all the original thinkers shorting at lows…

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  14. watcher

    Thanks Fly. And for a conservative play do you like long crude/short oil companies via long USO/DUG?

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  15. Jed

    mrkcbill thinks the definition of “the crack spread” is what you do when you first sit down to take a crap.

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  16. JakeGint

    Bruce, the refiners just called.

    En masse, yah.

    They said: “Fuck you, Juice, we will eat your brains, presently.”

    ____________

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  17. The Fly

    watcher

    That’s an ok trade.

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  18. The Fly

    Jed:

    Quit the MRkcbill attacks. You are attacking the nicest guy on the site. Sort of idiotic.

    Attack Jake or “newbie.”

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  19. Fly's ETF Dealer

    Mayne, ever’buddy knows the def’nishun uh “Crayck spread” is the amounts you pays fo mah crayck MAH NUSS tha amounts I pays fo the blow.

    Ho!

    And doan TELL ME ’bout no PRO-graym!

    _____________

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  20. JakeGint

    Would that make me “not so much the nicest guy on the site?”

    _______

    PS — I call “Jed is not allowed to attack me,” as I am much too sensitive to withstand the abuse.

    _______

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  21. Contrarian Indicator
    Contrarian Indicator

    Every indicator I look at is screaming at me to get short. But the sentiment is so bad right now, it seems like it just might be Costanza time. Regardless, I will soldier on. Added some DUG today. This market looks like it’s going to crash to end this week… the wipeout is on its way.

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  22. Jed

    Fly,

    I honestly like mrkcbill.

    For the last several weeks…we have exchanged fairly innocuous barbs in jest. There have been a lot of other “Jed” posters (check the IP addresses) that have piled on after the whistle so to speak. So it likely seems worse than it really is.

    Jed

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  23. RandomFundamentalist

    What do you mean that the crack spreads are starting to disconnect? Do you mean they have run too far and are due for a beatdown?

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  24. crackhead

    refiners are still trading as if oil were $80 a barrel,
    so something will give.

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