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
23,434 Blog Posts

Beware of the Dip Buying Imbeciles

Aside from the WRI sale this morning (I still have 5k long), I will not be selling anything today, no matter what. I do not trust the fervor and tenacity of the bears to bring this fucker lower. As long as men in tight rubber pants are bouncing around on CNBC, exclaiming “the economy is getting better,” it’s best to be cautious with overweighting on the short side.

Oil and other commodities are getting nailed to their respective coffins today, helping oil/gas/ag stocks trade decidedly lower. For some odd reason, there are a lot of buyers in tech today, led by RIMM and AAPL. Very, very odd.

Nonetheless, should this market trade higher today, I’d be willing to scale the Empire State Building naked or flash by the Fast Money set, neat Times Square. I am absolute in my convictions that the market, led by stupid banks and dastardly CRE will trade lower today.

Top picks: Short ACC/long GU.

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72 comments

  1. Jed

    Zombie…is that a roll of Smarties in your pocket…or are you just glad to see me?

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  2. Cash-N-Guns

    shave your ass, and ready your climbing gay headband…although i would prefer a fast retard money cameo by das Fly..

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  3. wilmer

    The Zombie once confused a Digornio pizza for delivery.

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  4. No way! Zombie is a pizza deliverer.

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  5. deflation then stagflation
    deflation then stagflation

    i’m not good at going short – is there anything worthwhile buying or just sit on cash?

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  6. The Taller and Better Looking Fake Jed
    The Taller and Better Looking Fake Jed

    Zombie wears a cubic zirconimum studded plastic tierra.

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  7. TraderCaddy

    Probably not Smarties but a Pez Dispenser.
    Fred Flinstone Pez Dispenser is pretty cool IMO.

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  8. skvm bvkkit

    I read something about the sovereign wealth funds and their notional $3T. I thought, sure mofo, you keep telling yourself you have $3T USD if it makes you feel better. LMAO!!

    How about that MGM? Me and Kerk are tight. ::ROFLMAO!!::

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  9. JakeGint

    This is an amusing “non-article” from NY Magazine regarding some upstate Senators seeking a “divorce” from the Lower part of the state.

    Funniest part (to me) was this quote, regarding Lawn Guyland’s interest in becoming it’s own state:

    ” And Long Island, your association with the city provides you some much-needed street cred; plus you would be the most despised state in the country if you went it alone.

    ROFL! So true!

    (full disclosure: born and bred — is that shocking to you? šŸ˜‰ )

    ___________

    ________

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  10. Buckeye Bob

    Great, Jimmy C is going to look at the banks tonight… this will be interesting. Anyone want to bet that this is buying opportunity of a lifetime? Put this together with his anti short rants and he will push people into banks.

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  11. Isay

    Fly is going to win again. ACC… aside for the slight pullback, looks like a coin toss. It had some momentum. What tipped you off? Is it simply your hatred for real estate. That can’t be what drives the FLY!!

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  12. Joey Buttafuoco Celebrity Pedophile
    Joey Buttafuoco Celebrity Pedophile

    I am willing and able to serve as governor of the great state of Long Island, from exile.

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  13. Isay

    Oh by the way Fucking hilarious graphic. With the bunch of jackasses totin’ the rocket

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  14. Cash-N-Guns

    is Michele Obama the black version of “The Grinch” striking resmeblence….poor fucking barack..having to mount that skank…fuck me.

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  15. charlie

    Cramer said banks open up tomorrow. Time to get short.

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  16. Escaped from Long Island
    Escaped from Long Island

    Jake:

    More despised than NJ already is?
    I don’t know about that.

    Close contest, but I think NJ would retain its crown.

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  17. Amy Fisher

    Joey, you creep, you owe me. I went away 4 U

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  18. The Fly

    FUCK CRAMER. THAT MAN IS AN ASSHOLE.

    He gets 1 rally call right and thinks he owns Wall St.

    Fuck off, pal.

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  19. 4fl3x

    Master Fly, you better post that shit on youtube like Krull did http://www.youtube.com/watch?v=7tfx51C0aCs

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  20. gappingandyapping
    gappingandyapping

    I took a stab at RIMM on the short side but quickly had my balls removed a dollar higher as my stop kicked in. It appears the bulls are going to press the hot blade even further. My guess is someone got caught on the wrong side of that trade and has been murdered causing the squeezeage.

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  21. mustard seeds

    M Whitney on Romper Room shortly, another knife to the banks, bet she talks about commercial real estate.

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  22. The Fly

    Whitney will shred banks.

    Long FAZ here.

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  23. KaiserThe Dog

    Master Mustard Seeds.
    Where is my Purina Special Choice and Perrier water?
    I am tired of drinking out of the toilet.

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  24. Anton Cigur

    “Depending on Banks to Fuel a Rally” from Misstrade

    http://benbittrolff.blogspot.com/2009/04/depending-on-banks-to-fuel-rally.html

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  25. Cash-N-Guns

    Whitney long FAS..who knew..

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  26. The Fly

    HA! You have to be fucking kidding me!!! Whitney is quasi bullish on banks?!?!

    Fuck this, I am fixing to climb the Empire State Building like Kong.

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  27. The Fly

    I’ll grab Whitney as my Jane.

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  28. JakeGint

    Escaped —

    You don’t get it. New Jersey is despised because that part of it very close to New York is the part that everyone sees, nationally — ie, “Sopranos Jersey.”

    The truth is, much of NJ is rural, and there are plenty of normal people there.

    Difference with Lawn Guyland is… the entirety of the Island is like Northeastern Jersey.

    “No respite.”

    _________

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  29. fly follower

    this rally does not seem like to end. there are too many stupid traders buy on the dip.

    I am hedging at this point. lost my pants going against the market.

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  30. mustard seeds

    Well, there will be prime rib when those shares of SRS pick up little, but Sister Whitney’s not banging on the right drums.
    If you wouldn’t have been drunk and on the porn chat Friday, I’d be able to go to Ruby Tuesdays with my buy one, get one free coupon…You’d be livin’ large..on your back, paws stretched out and a full tummy!

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  31. The Fly

    WHITNEY JUMPED THE SHARK!

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  32. JakeGint

    Iā€™ll grab Whitney as my Jane.

    That’s Tarzan.

    You want Faye Wray.

    _________

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  33. Isay

    Gueitner threatened to beat up her husband.

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  34. The Fly

    thnx jake.

    nice edit.

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  35. zephler

    hey fly are you still posting your early stories on erowid.org? I know which one and in which section is yours….

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  36. mike

    HOG @ +17 ???

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  37. Escaped from Long Island Says:
    Escaped from Long Island Says:

    Jake:

    Its the perception that matters, not the truth.

    Using that metric, NJ wins as most despised, hands down.

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  38. Whitney just shit on you shorts. As you can see, it doesnt pay to stay stubborn when the environment is clearly changing around you. Expecting a massive collapse is a fools game. Well done FLY for warning about pressing bears because they are too scared too take the ball away from the bulls. Well done. The FLY WINS.

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  39. JakeGint

    Where’s Cash n’ Guns?

    He’s gonna love this one:

    The Grinch and the Queen.

    Who knew she was that fuggin’ big?

    __________

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  40. Cash-N-Guns

    Jake..thats classic…! thanks. And by the way my vote is long island as the armpit of america.

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  41. banker

    i told you banks going up but nooooo you had to hear it from whitney…

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  42. JakeGint

    Hey Catholics! Your collective mothers just called me to remind you that…

    It’s Easter Week, time to Come Sham-wow clean!

    ________

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  43. Buckeye Bob

    Banker:

    She only said some will go up in the short term, some will fail the stress test and go down, and then they all go down because “its only the deck chairs that look better”

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  44. Goldie

    Asshole dip buyer of SSO right at S2 today!! My ruler rulez fly!!

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  45. TraderCaddy

    One of those days where I was lucky and not smart.
    Took out my contact lens and earlier put in an order to buy GD at the market and thought I was buying GS.
    The confirmation came back and I said what the hell let it ride.
    Made about 2.5% on my mistake.
    As Cosatanza said I was a moop.
    A lucky moop.

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  46. Cramer still pumps that assbag Lenny Dykstra and his supposed 99-1 record with his lame call strategies. I am sure Cramer is looking out for the common man by touting that piece of garbage on his website.

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  47. alf44

    …git a clue people…The Queen is a dwarf !

    Or, at least “dwarf-like” !

    Danny Devito would look like a giant next to her !

    .

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  48. Motingo

    look at motherfucking SRS. when are you covering that bitch fly?

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  49. Cash-N-Guns

    Cramer still thinks Bear Stearns is doing fine…fucking mental patient.

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  50. mustard seeds

    I don’t get it at all,

    Rail shipments down, Chemicals 23 % over last week, 18% year over year, like that means nobody is making anything, credit being withdrawn to consumers to the note of 2.7 trillion, higher unemployment..

    I guess fantasy land is just what ever the big money wants it to be.

    How the fuck can anything be brighter Maria…these bastards are all being pumped to be cheery eyed

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  51. SRS

    I WILL PUNCH YOU IN THE TITS

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  52. Mushroomz

    Fly,

    So you are saying to buying FAS?

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  53. Dr. Incognito

    Something is a brewing…I would not want to be short.

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  54. KaiserThe Dog

    Can you make my prime rib medium rare?
    And don’t forget the Perrier.
    The toilet water is digusting and the blue water looks bad on my teeth.

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  55. gappingandyapping
    gappingandyapping

    I will soon take out a major short against SRS. This is a criminal ETF and will be a zero soon. Fucking homos.

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  56. skvm bvkkit

    NEW YORK, April 6 (Reuters) – General Growth Properties IncGGP.N, which is struggling to avoid filing for Chapter 11 bankruptcy protection, on Monday said it could not explain why its stock was up 89 percent.

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  57. SRS

    YOUR ELBOWS: RIPPED OFF

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  58. Isay

    Do you mean short HOG at 17. It looks overbought. I’m looking at short MGM at 5.8. Does Vegas look good right now? No…NO

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  59. gooduckdude

    i sense a stripshow at Fly’s house coming up at the close…

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  60. WTF is going on!?!?!?

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  61. Crude

    You should have been watching me earlier for the tell.

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  62. mike

    No, I was curious. But I did short @ 17.01 & hedged w/may 19/20 call spread

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  63. Fly Leech

    “WTF is going on!?!?!?”

    People are buying and selling stocks.

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  64. Isay

    SRS is the FLY’s best joke yet….HE NEVER HAD ANY!!
    Suckerrrs.!!!! Me included

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  65. gappingandyapping
    gappingandyapping

    As I mentioned this morning we end green or damn near it. Its a fucking manipulators market out there.

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  66. ottnott

    That is some legendary WTF in SRS this afternoon.

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  67. SRS

    bought @37.75, sold at 38.75 during last 30 min, yuo just need to know when to buy šŸ™‚

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  68. somebody

    You are still a loser Mr SRS with your fucking here is what I did. Not here is what I’m gonna do.

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  69. Zugzwang

    When a mustard seed implodes what sound dose it make?
    It goes FAAZZZ. Actually I like being short of PCR more, so I’m both.
    Anyone want to buy a casino? All offers considered

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  70. Fly Leech Says:

    ā€œWTF is going on!?!?!?ā€

    People are buying and selling stocks.

    ———

    Fly Leech,

    That’s a pretty ghey response. You should minimize your comments on this site.

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  71. SRS

    You are still a loser Mr SRS with your fucking here is what I did. Not here is what Iā€™m gonna do.
    ——–
    sorry but i did not feel obligated to inform you, srs moves fast, you blink and pufff as fly says – your gains are gone.

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  72. Souper

    Yes, WTF is up w/ the continuous upside on HOG can’t figure it out – I’m short too, but got in too early.

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