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
23,463 Blog Posts

Capitulation, Then Bounce

Immediately following “The Fly’s” mental breakdown, declaring “We’re Doomed,” the market ripped higher to the sweet tune of triple digits. It’s important to watch what I do, not so much what I say, with regards to matters concerning money. According to the ancient laws of Jupiter’s stone, it is my right and duty to bank coin, at a profuse rate, despite not trying or even wanting to. It is my curse, my burden; it is my life.

Just yesterday, I was making preparations for the apocalypse, thinking the market was at the precipice of “shitting the shower,” yet here I am making you trollops look like headless shrimps, long stocks, in an egregious way.

The point: “The Fly” always wins, even when it seems some rogue version of the apocalypse is sure to suck him into a vortex, spitting out only his NY Mets cap.

With my money, I am emphatic about the prospects of OmniVision Technologies, Inc. [[OVTI]] , Corning Incorporated [[GLW]] , [[ERX]] , Arena Resources, Inc. [[ARD]] and yes Flotek Industries, Inc. [[FTK]] . Despite today’s melt up, I will likely bore many of you to death or worse, since I have no desire to change my portfolio or add new names. Plus anyway, with only 10% cash, there’s not much that I can do, barring going balls on the guillotine “all in”, while screaming “fuck the world.” As inviting as that sounds, I will likely roam around my office all day, slapping people with ham sandwiches.

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57 comments

  1. Free Trader

    FLY is God!

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  2. Aristotle

    FIG

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  3. gappingandyapping
    gappingandyapping

    If DRYS breaks above 6 look out. Major call buying this morning.

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  4. Pete

    I finally understand what FIG means lol. I would read the posts and think FIG was a stock symbol.

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  5. jg

    fig

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  6. The Fly

    GIS (God is Santa Clause)

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  7. DMG

    I can picture a young Fly doing something like this.

    Specifically, “…jumped behind the wheel and drove off, rounding the block a few times. Each time, [The Fly] allegedly gave Occelin the finger.”

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  8. GA

    Santa Clause is Chivas

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  9. 4fl3x

    Master Fly, in case you forgot… You were waiting for a bounce to unload some of your longs and hedge.

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  10. The Fly

    Chivas is DevilDog. (CID)

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  11. Juice

    There’s plenty The Fly can do with only 10% cash … Go on margin! to the tune of 300%, a la the DevilDogged One

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  12. Juice

    The Fly is God. (TFIG)

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  13. The Fly

    (TGIF)Thank God it’s Fly!

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  14. wilmer

    DevilDog is Satan (DDIS)

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  15. kelkun

    Thanks a lot, Fly, for affecting my demeanor in such a way. I used to be a nice, respectable gent, who would comment politely, “I’m having a wonderful day to the upside”.

    But not anymore.

    Now instead, I find myself staring at my screen bug-eyed, whilst screaming, “Haha! I’m homo-hammering bearshitters in the fucking face, haha!”

    Thanks a whole bunch for that.

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  16. Moses

    Pete,

    The term “FIG” is used by Godless bastards that will surely rot in hell. They will claim its a joke and all in good fun. It is not. It is offensive to God and anyone that TRULY believes in God.

    Moses

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  17. Fly Leech

    It was right there in your charts! Only Fly’s had it right, all the other charts were pointing to doom. Logically, if Fly is God, then his charts are the Bible.

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  18. The Fly

    Moses

    Go part water or something.

    Kelkun

    You are welcome.

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  19. Fly Leech

    Moses, relax. Go sit on a mountain and wait for Fly to send you a chart.

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  20. Juice

    Moses, you know well the Gods of the earth were human.

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  21. DrewDog

    Fly, want to come to the Met/Yankee game friday night? I have an extra ticket!

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  22. Aristotle

    Thank God It’s Flyday!

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  23. gappingandyapping
    gappingandyapping

    If you have not signed up for the PPT yet I would highly advise you do so. I won’t say too much other than here are some of my winners today which we have been highlighting in the PPT for days now.

    SONC +10.45%
    AIB +10.00%
    DRYS + 8.40%
    FSYS + 7.11%
    WPRT + 5.95%
    RICK + 7.99%

    And that is just today, many of them were bought significantly lower yesterday (WPRT, DRYS, AIB)

    And to be fair here are the losers:

    QID -4.3%
    FAZ -5.15%
    SRS -3.75%

    Winners easily outpacing the hedges.

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  24. Aristotle

    GaY (Gapping and Yapping) the $BDI is back below 4000.

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  25. The Fly

    Drewdog

    I find little pleasure going to the games, since I root for the Mets to lose. Don’t get me wrong, I am a Met fan, but not in the traditional sense. I watch for the entertainment of it all, the epic nature of their losses.

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  26. JakeGint

    At least make sure the ham sandwiches are open faced, so that the slappee enjoys a “moisturizing effect” thanks to the rich Hellman’s mayo.

    Also:

    GIS (God is Santa Clause)

    You worship bad Tim Allen holiday movies?

    This might explain the egregious Obama vote.

    Though not excuse it of course.

    __

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  27. JakeGint

    Brucie — is that crap where L. Ron Hubbard got all his great ideas, or vice versa?

    I’m kind of surprised that Meier guy does okay in Europe, given the amount of schite the Scientologists take over there (esp. Germany).

    _______

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  28. Mr. Cain Thaler

    For some reason, I would suspect Santa Clause predates Tim Allen, if only by a few hundred years.

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  29. Nails on Nails

    Deud, bro! Here’s my take:

    FIG == Fly IS Gay
    TGIF == The Gaylord IS Fly.

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  30. Mr. Cain Thaler

    This meltup is annoying; people waiting in silent wonder for the Fed to speak, out of fear of some unpredicted decision on their part.

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  31. Quiet Storm

    someone is in a good mood(playful n’ shit).

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  32. Free Trader

    Fly, will you be selling your ERX positions today? Finally GLW having a small, but nice, melt-up.

    It has been two days since your annoucement of a new IBC.com. Where is it? Looking forward to it.

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  33. gappingandyapping
    gappingandyapping

    Fly you watching Wimbeldon?

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  34. Cash-N-Guns

    ELN…starting to move, heavy option activity..company is looking to partner/sell….imo.

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  35. gappingandyapping
    gappingandyapping

    Aristotle: It has been there for awhile and is on an up trend. Capacity has been stripped out tremendously too. DRYS has secured funding on massive capital raises and I believe they are currently priced on a sink or swim option number. I think they will float.

    http://www.investmenttools.com/images/wfut/crb/bdirecent.gif

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  36. God

    The term “FIG” is used by Godless bastards that will surely rot in hell. They will claim its a joke and all in good fun. It is not. It is offensive to God and anyone that TRULY believes in God.

    Moses, what the fuck is the problem with you dude. I got you to part waters and shit and now you’re getting really irritating.

    “FIG”…? (Fly is God)

    Well, yea, he is a sorta god. He’s god of stocks. Stop getting jealous and keep scratching at those tablets, you old busy body.

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  37. 3B

    Cramer tells everyone to buy KR last night and it’s down the next morning in an up market. Mad skilz i tell’s ya.

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  38. j

    man, Mon is a head turner… up a couple of bucks and down few.

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  39. JakeGint

    For some reason, I would suspect Santa Clause predates Tim Allen, if only by a few hundred years.

    Something of a “gentleman’s C” in spelling, were we?

    Google this exact spelling: “The Santa Clause.”

    _________

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  40. Blues

    Fly, hope you tighten up your long stops or sell into this rally… look at the volume for a 1.5-2% rally, this sure looks pathetic… This rally is Mr. Market giving you bulltards hope and suck more money in… good luck…

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  41. Juice

    Jake – no idea where Hubbard stole his shtick from.

    Meier is the real deal, imo. btw, he’s from Switzerland, not Germany. And he is not big anywhere … way more enemies than friends.

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  42. Jakegint

    $77.25 on MON is the approximate 61.8% long term fib off the $143+ highs, so breaking that would be significanto.

    Looks like that’s also Douche-Cramer’s “head and shoulders” neckline.

    _________

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  43. punyandy

    Cash-N-Guns – IMO? ELN has been publicly trying to sell itself/partner with someone for months. No breaking news there.

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  44. TheArtist

    pandora.com is totally cool…..

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  45. TraderCaddy

    Banks are cracking here.
    At least the ones with credit card exposure- JPM,AXP, etc.
    KRE (regional bank etf is unchanged).

    Pandora.com is cool.

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  46. HenryFool

    Agreed been a Pandora fan for years!! LOVE IT!!

    ERX to hold or to sell this is question!!

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  47. gappingandyapping
    gappingandyapping

    Anyone done any models on what happens if North Korea makes good on their threats? Maybe we should start a portfolio list in the PPT.

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  48. TraderCaddy

    Gold and oil now cracking.
    FAZ time?

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  49. DrewDog

    Fly – have you been to the new stadium? I am sure the Fly would enjoy a shake shack burger or an international beer from the beer garden, no? There has also been a lot of tail at the games recently!

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  50. Mr. Cain Thaler

    It’s hard to see there being much of a downward movement thanks to a North Korean standoff, since they don’t exactly export anything or have any real trade agreements with the west. Perhaps just jitter induced dips to buy. Unless, of course, China gets involved.

    There might be some defense contractors who stand to make a fortune from it, though.

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  51. StocksRider

    Fly, just a few hours long rally so far with tepid volume has shifted your paradigm? Or was it the Woodshedder’s studies on the golden cross last night that put you in the buoyant mood? I understand we all have to be nimble. But how to differentiate between that and flakiness is the big question. Right now I am confused with your stance. Anyways, my 1.5 cents is that the sideways drudgery may continue because too many bloggers are bearish. So it would be rare if the market does decide to dive down.

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  52. Mr. Cain Thaler

    (laughter) I got the reference Jake; just not where you pulled the “the” out of.

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  53. AweShOcKz

    Meanwhile stuntmen at the GLW factories are driving 88 mph through haphazardly placed large glass sheets so they can pass the eventual demand costs onto FAZ daytraders requiring 12 lcd screens each.

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  54. Think about it

    StocksRider: Most people are actually thinking just like you are: Most people are bearish, therefore the market can’t go down which means I am bullish or neutral.

    As a result, I am bearish.

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  55. Keyser Soze

    Will Mark Sanford resign at his 2:00 press conference today?

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  56. Cash-N-Guns

    puny..I didnt say ELN was “breaking news” dipshit..I like it here…why dont you short some right now in size.

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  57. TraderCaddy

    No.
    I think Mark Sanford will say the he was in Argentina visiting his gay lover, a gaucho and that they own a ranch together.

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