I am eliminating my fucking cash position, since it is not the behavior of a distinguished gentleman to have large pools of cash, just lying around doing nothing.
My dilemma: it’s stupid to go “all in” after the fact. If I conducted myself in such a manner, to hell and with bollocks, I’d run out of savings inside of 3 months time.
Instead, I’ve decided on a hybrid model, which is: bet against the Cramer circle jerkers, via long FXP/SRS/FAZ, while at the same time long some pretty gnarly (garbagio) tech stocks, just in case the “Cramer clan” decided it’s 1999 again.
As an aside, the action in KIM, following a 70 million share offering, is impressive. However, with regards to REITS, I’m afraid if you are not long KIM, MAC or SLG today, you’re getting punched in the throat.
As for the banks:euro trash banks are still running. I can offer zero reasons to buy the insolvent AIB, yet here we are and the stock is up 25%. In addition, RBS, LYG, BCS and UBS are green. For the most part, U.S. bank bulls have had their fill and are running for the cold part of the volcano, away from the hot hot magma.
Finally, I like my chances here, whatever the fuck it is that I think I am doing. I haven’t quite figured out exactly what my agenda is just yet. Just know, whatever it is, I shall win. After I am finished winning, I shall win again.
The process just keeps on repeating itself. I swear, no lies.
If you enjoy the content at iBankCoin, please follow us on Twitter
fig
cant beleive you’re effin with FXP
mad man!
It’s $22 for Pete’s sake!
I love this shit!!!
Hey Fly – Did you study finance or some shit in school or is this all home grown? *(Which usually turns out better then commercial shit anyways)*
I wouldn’t short here. We will run up at the close or finish unchanged. I think Tuesday might be a good day to short. A spike to Dow 8200+ and perhaps than a move down to 7700. Financials are still relatively strong despite the overall market action.
Thinking of shorting WFMI here. Can anyone talk me out of it ? I just don’t see how WFMI will profit as consumers tighten their belt.
And what pray tell does a company’s ability to profit have to do with it’s stock price?
Oh dear
http://www.q1publishing.com/index.php?&content_id=245
CRE @ precipice
CAP, the way this fucked up market is working, my advice is flip a coin.
If 660,000 job losses in 4 weeks isn’t “bad news” and these asshats are calling it bullish news because it was the “number they expected”, is, in reality fucked up.
I guess if 2 million job losses in 4 weeks was next and the fucking “street” expected 2.1 million and 1.99 million was the number I guess the fucking dumbass market would skyrocket? because it was “less than expected”
fucking unbelievable…..
I wouldn’t short here. We will run up at the close or finish unchanged. I think Tuesday might be a good day to short. A spike to Dow 8200+ and perhaps than a move down to 7700. Financials are still relatively strong despite the overall market action.
Says the man who just lost a truckload of coin. That is to say, get short here!
GOOGLE BUYING TWITTER?
http://www.techcrunch.com/2009/04/02/sources-google-in-late-stage-talks-to-buy-twitter/
Not shorting all that much. I am balancing.
Bot FAZ @ $18.05 yesterday. Will buy more if it drops in the mid $17. It’s currently 34% of my holdings.
CAP – That DD visiting the Doctor shit you wrote yesterday was some funny ass shit!!!
Peas
“U.S. bank bulls have had their fill and are running for the cold part of the volcano…”
HA!
Indeud.
faz is 34% of you holdings? thats scary
34% is crazy, but I’m thinking this market will reverse. If I’m wrong, I lose and move on to the next trade.
You can’t win everytime, right?
Artist, you around?
yep
You can’t win every time JR but if you get FUCKING SMOKED with 34% of your portfolio in one of the most volatile fuckers on the market it will a) Fuck you up mentally most likely and b) severely limit your ability to fire when needed.
Are you an insomniac?
This is in response to the below comment you posted yesterday…
If you haven’t already, You should read “Trading in the Zone” By: Mark Douglas. I think this will help you out A LOT and answer your question. Seriously consider reading this. After reading the book, read your comment again and everything will seem more clear.
TheArtist Says:
this is what I have never understood in my stock trading lifetime.
you get these reports that should mean something, and they don’t
example, just the other day they announced that CROX was a “going concern” and that bankruptcy was a possibility. now this was just last week, the stock only traded down to 1.00 and now, just one week later the stock has jumped up 50% to 1.51? so reading all the articles, I stayed away, I was thinking about buying a little since they were still here, thru all the fuckery of 2008 and it’s spring time, and they make sandals, but after reading all the articles, stayed away….in one week, could have had a nice 50% profit? this bullshit is what just blows my mind. if they are near bankruptcy, whos buying the stock?
http://www.ibankcoin.com/flyblog/index.php/2009/04/02/honk-honk-beep-beep/
Citi & BAC have tripled from their lows. I think the rally is just about over.
Prepare for new lows in the coming weeks. By the summer, a generational bottom will be set in the Dow. Prepare, don’t deny.
thanks JR, I will look for it.
Some dude,
I bet you’re new at trading. I’ve been reading your comments and it seems you just mimic The Fly. After you BUY what he’s buying, you then check this website religiously to see if he sold, so you can sell. Am I right about this??…
I’m willing to make a bet and also, willing to lose some money to find out if I’m wrong. I won’t be all emotional and shit cause I realize that I CAN LOSE. It’s part of the game.
Don’t talk shit to me buddy.
P.S – I sleep well at night.
If or when you do get this book. Be sure to let me know what you think after reading it!
Fly misses rally, Fly traffic falls by 1/3
http://www.alexa.com/siteinfo/ibankcoin.com
I just got some AU below $32 which is John Paulson’s price and I recently got some COP below $40 which is 1/2 what Warren of Buffett paid.
JR, really? 34%? Don’t do crack when in the market. You should be at 3 to 4%.
Devildog (not really): alexa’s statistics are not significant below the top 1000 sites. they don’t have enough users to track sites which end up having only a handful of alexa users that browse the site.
PALM breakout potential. Got in this morning on rimm follow through news, will add more if it breaks and holds its year high. Huge short interest plus pending PRE and web OS announcements. Also, the shit stocks are the final run before market turns. This one looks to be a good bet…
CRE is on fire today. They are flush with cash and people are banging on the doors to setup shop in NYC buildings. Its off to the races. During the month of March we added around 3 Million jobs by my estimation. Obama has goosed this economy and we are in the first stage of a multi-decade expansion. I do worry about inflation however as we will see GDP growth of about 8-12% in the next year. I may set out on an excursion looking for steel as we are going to be running low, we will also be running out of cranes as orders for buildings is backlogged for about 10 years or so. Cement is also at a premium worth more than gold. Bottom line we are expanding so fast I need a new belt. — Dennis Kneale
Make sure that belt is white vinyl, matching your shoes, and smokin’ hot with that powder blue jumpsuit.
You.
Look.
Mahvelus.
LMFAO at Gapping. I dont need to post as he is penning my sentiment perfectly. Been all in short since about spx 815 and still sleeping like a baby based on this nonsense market action. Hedigng with SSO for now but will start dumping at 850-875-900.
agreed, alexa is totally inaccurate except for sites that gullible people visit (who would agree to install alexa toolbar).
for all real world sites, its useless