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
23,433 Blog Posts

Perfect

The market piped down into the bell, as big nosed sellers jumped into hot tar pits covered with corn flakes. Following yesterday’s gap up, today’s action is the preferred follow through, with the weak selling off and strong powering forward.

Do yourself a favor, take the fucking banks/cre off your screen. They’ve been neutered and are no longer necessary investment vehicles. The government has their mitts in the pudding. They will not give the shorts much of a runway.

In my opinion, it makes more sense to focus on sectors that are growing, like LED’s, chip packaging companies, semiconductor equipment manufacturers, 4g network plays, etc.

As you already know, Ragin’ Cajun and The Chart Addict have been knocking the cover off of steel balls with their picks. RC nailed THQI this morning, for non-ingrates, on The PPT. I just wanted to rub that in.

Gentlemen, summer is just around the corner. Quit being a loser, man up, and get involved with some long side trades, else find yourself inside of a pineapple coffin, ever so prematurely.

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31 comments

  1. The Fly

    Analog Devices prelim $0.18 vs $0.09 First Call consensus; revs $475 mln vs $427.24 mln First Call consensus

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  2. Mushroomz

    We need more long term investment ideas people. When is the last time you fuckers held a stock for 12 months? Sprint is my 4g play, and I am in it for the long term.

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  3. MOOBER

    yeah, I’m in everything for the long term. So as long as I don’t stop out in the next 15 mins, that is.

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  4. Donny

    It’s so fucking beautiful in Southern California today … not a gawd-damn cloud in the entire sky.

    Too bad it’s all a mirage, and California is going to hell in a hand basket.

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  5. Capt Kirk

    Fly, what are your thoughts on EMIS and SUF?

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  6. SatanicChihuahua
    SatanicChihuahua

    If you like ENTR, you might like SIGM. Businesses sound similar. SIGM looks like it’s starting to come under accumulation with a very nice 8% gain today.

    I haven’t followed SIGMs conference calls or SEC filings for over a year, and since I no longer have access to the sell side hype machine I can’t get up to speed on it quickly.

    Any thoughts?

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  7. The Fly

    love sigm

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  8. kouchuu

    SIGM is where it’s at yall!! Expect Bluray and IPTV orders through the roof as the unemployed and creditless line up to buy extra HDTVs for the spare bathrooms in their triple-leveraged homes!!! Watch out DOW 14,000 here we come!!!!!

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  9. mrkcbill

    BAC dropping like a rock. Get the fuck out of here. No way. Green Shoots or more Dropping Shoes….what inning is it?

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  10. Free Trader

    Fly, I thought you were going into the fire with SFE and FTK. What happened? I’m in SFE, hopefully, not in a FTK abyss. Et tu ?

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  11. TX Slave Trader
    TX Slave Trader

    Thanks much for CIEN, I haven’t looked at that stock in years, yesterday got into some leaps……badda bing badda boom bitches.

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  12. gappingandyapping
    gappingandyapping

    Good god what the fuck is going on with BAC? Its getting murder monster stomped!

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  13. BAC – Secondary @ $10/share.

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  14. 3B

    Good god what the fuck is going on with BOA? Its getting murder monster stomped!

    An AH news release which was **not** leaked ahead of time by insiders.

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  15. Mushroomz

    I don’t know what is scarier, the swine flu, or B of A raising cash.

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  16. gappingandyapping
    gappingandyapping

    If BAC gaps down tomorrow it will leave an island reversal.

    Whateverdafuck dat is. I think it has something to do with Gilligans’s island.

    By the way didn’t they announce like 20 or so secondaries in the past coupla weeks and we rallied like a whore in Vegas?

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  17. so i herd you liek mudkips
    so i herd you liek mudkips

    once the banks finish raising their money (BAC is one of the last, i think they had only slightly over 50% of their capital raised as of the weekend), it will be interesting to see whether the market nosedives. the tinfoil hats will be really at it then.

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  18. BAC

    17:34 EDT
    BAC
    Bank of America-BAC 850M share Secondary priced at $10.00
    BofA/Merrill acted as sole manager.

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  19. 3B

    May 19 (Bloomberg) — Bank of America Corp. and Citigroup Inc. executives and directors have profits of more than $25 million after purchasing shares earlier this year amid speculation that the lenders would be nationalized.

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  20. FAZ FTW!

    FAZ 4 LFE

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  21. gappingandyapping
    gappingandyapping

    By the way GREAT FUCKING CALL GOLDMAN SACHS on BAC!

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  22. Richy

    Moodys report on CRE…

    http://www.bloomberg.com/apps/news?pid=20601087&sid=a9FvI66DMoYQ&refer=home

    Wasnt BAC one of the biggest originators for CRE loans, therefore is getting stomped the worst after hours?

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  23. RpD

    Fly,

    Will you be crying at the end of this week too?

    It’s like CNBC around here lately…

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  24. braveflaps

    For immediate release:

    GS partners named to coveted spots on firm’s own Conviction Douchebag list.

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  25. ARV

    Fly,

    Is IR a long term play for you? A weakening dollar should be good for its business

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  26. trader y

    Fly, or anyone as remotely smart:

    is there any ETF that reflects all these mid cap tech stocks you’re talking about? SMH or XLK don’t seem to do it justice. And no, please nothing leveraged.

    And kudos fly, I was sure we were going lower on that retracement. Good conviction.

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  27. Eric

    I am not sure I would take FAZ off the screen, even if fact the “gov mitts are in the pudding”. You know, the gov may need another nice big deflationary scare. A scare big enough to create another “flight to safety” in the form of TREASURIES. They are running out of buyers. Fast.

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  28. gappingandyapping
    gappingandyapping

    I took a monster position in BAC at 10.70 in AH. Its my biggest position at the moment. Look if diluting the fuck out of the shareholder (1/6th dilution) can’t drop these banks then nothing can. I would even consider adding to my longer term FAS position here. I would not be surprised to see BAC up 20% tomorrow.

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  29. Woodshedder

    Sniff…sniff….sssssssnnnnnnnnniffff. I smells me an ideologue around these parts.

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  30. S.P. from Alaska
    S.P. from Alaska

    Wood, get the hell out from under my skirt!

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  31. Razncane

    http://www.reuters.com/article/marketsnews/idINN1942182920090520?rpc=33

    Banks look towards getting out of TARP. Check it out.

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