Closed out the day, up another 2.5%—long Flotek Industries, Inc. [[FTK]] , Tesoro Corporation [[TSO]] , Holly Corporation [[HOC]] , Valero Energy Corporation [[VLO]] , American Capital Ltd. [[ACAS]] , Spartech Corporation [[SEH]] , DryShips Inc. [[DRYS]] , Hercules Offshore, Inc. [[HERO]] , Barnes & Noble, Inc. [[BKS]] , Western Refining, Inc. [[WNR]] , Starent Networks Corp. [[STAR]] , Sonus Networks, Inc. [[SONS]] , [[RAX]] , [[CBD]] , Level 3 Communications, Inc. [[LVLT]] and many more.
Time to celebrate early, in asking for a jinx sort of way, via large glasses of red.
[youtube:http://www.youtube.com/watch?v=dAyVw5QNirU 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
FIG
Senor Fly:
I thank you, sincerely.
Surely you’ll jinx yourself playin that crap.
http://www.youtube.com/watch?v=xg3WNfZ74e0
Fly, you think SONS might be a takeover play? Love the way the stock’s been acting. Enjoy the Chianti or Bordeaux.
Anyone hear anything about C selling Primerica?
> In May 2009 the Primerica executive team lead by co-CEOs John Addison and Rick Williams approached private equity firm J.C. Flowers & Co. yet again, as well as Blackstone Group LP and TPG Inc in a new attempt to have the company bought, a plan which Citigroup has not yet endorsed. Currently the company is estimated to be valued at $9 billion. <
Current market cap = $51B so $9B would be a significant sale maybe worth $1 on the stock
Killing it over here with CVM. Huge spike today. Love the chart for SVA .
Interesting to see Ibankcoin’s traffic down almost 40% since the spring. Great to see Slope of Hope reaching new heights though.
I like this site, lots of great ideas, wonder why the big drop off?
Premium service (PPT) is cannibalizing comments from the main blog most likely …
As I mentioned to Tim, before he scooped my post, an increasing membership can often be a sign that you’ve grown too beartarded. Fly gave up his bearishness by about May…. sound about right?
Meanwhile, Timmah’s group of hardy survivors increases daily… a great contraindicator.
When Tim’s site is dwindling… time to go bearish.
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Slope has become a refuge for people on the wrong side of the trade . … a misery loves company crowd.
I guess there are a lot of unhappy traders.
TK is the Kanye West of the blogging world, without all the hit songs. Just a whiny bitch.
He hasn’t deleted any of my recent posts as I guess calling him a fool is no longer taboo(for now, I’m sure it’ll change on his next drawdown).
I guess you went over the line with your latest comment debunking his increasing popularity as proof he’s great. Good comment on the contrarian indicator, I will keep an eye on it for the future.
We’ll see if that can beat out the accuracy of the golden/death cross.
and vice versa …. therefore dwindling volume here means we’ve become too bullish ???
…. so watch for the death cross as the volume on each blog reverses course
Market panic brings readership.
This is true.
i lost my bearshitter audience, a small price for winship 🙂
What ever happened to DevilDawg?
Homo:
The Dog has been listed on the missing persons register. No one knows where the fuck he is.
It’s true, I’ve been watching that. Moe, Chivas, the Dog etc. all gone.I really like Moe and Chivas though.
Loved this quote from a commenter on Dope tonight. Spot on….
tradermatt:
Technical analysis has a lot in common with disciplines such as astrology, alchemy, and palmistry.
The difference is that TA uses terms like “fibonacci level” or “relative strength index”, which gives its practitioners the illusion that the discipline is steeped in mathematical or statistical concreteness.
Don’t forget meteorology
The Fly is God.
And coming Wednesday —
The FLYTEK is God!
___
Fly The King, and don’t forget it baby.
Fly- How much wine do you actually drink? Do you workout quite a bit too?
Also, what happened to the guy who used to talk about style/fashion/talking to strangers? He was good.
I work out every morning, from 8am to 9:15ish.
I don’t drink that much.
Patrick..you might try Queer Eye for the Straight Guy and Brokeback Mountain if you liked that gay ass shit
Good lord — what a set of crappy companies.
Fortunately, the market is ONLY awarding shit-ass co’s with huge debt and a shitty track record like FTK, so I’m sure The Fly will keep hitting new highs by playing the Greater Fool.
AIG is the fucking pied piper of bullshit stocks.
Wish I had the balls to hold full sacks of shit like that but I don’t. HOC isn’t too terrible I guess.
The Fly agrees with you on AIG, as I have read in his posts.
FTK is what it is, but if u had bought it in the 1.50s, below which it has proven it does not want to go, you’d be up handsomely with imminent upside in your future. WNR and 5.50, also.
My last comment was a reply to skeptical, btw. iPhone won’t let me edit the existing comment.
A sanguine glass full does the heart well.
TOUCHDOWN!!!!!!!!!!!!
Patriots Win …. the Patriots Win!!!
Friggin Bills are cursed…. New post!
_________
Pays to be Good N’ Lucky on nights like this ….
Losing Mayo early hurt the team defensively as he’s the new defensive captain:
> Bills LB Paul Posluszny broke his arm and DE Chris Kelsay hurt his knee. … Patriots LB Jerod Mayo, the 2008 Defensive Rookie of the year, injured his right knee.
Mr. Fly, since you make more coin than Goldman, could you maybe buy my ring and kind of loan it back to me? I will pay you back, honest, and you can buy the trophy for yourself. I”m getting a lot of good stock picks from Motley Fools and I should be back on my feet in no time. Go Mets!
Fly with so many lawsuit filled against FTK, why you keep buying it?
DRYS is up in PM
PPi was a really shitty number. It should spook the bonds I think.
So we’re rolling over (in equities) because retail sales were better than expected, or is something else going on? Bonds seemed to have bounced.
Yogi
Here’s what I think. It’s pure speculation on my part. Dudes like Tudor-Jones and Louise (sic) Bacon aren’t averse to hitting the market opposite to the way economic numbers suggest it should go.
I wouldn’t trade on my hunch, however I wouldn’t put it past those two fuckers to hit the market when it first opens to make it appear that it isn’t reacting well to positive news. They used to do that in the currencies in a big way and quite often.
If it’s true I hope they get their balls put in a vice.
j – Thanks.
banks are still dead in the water….
Tell me about it… Regionals are sitting on the bottom of the PPT industry groups. I’m hoping (I know it’s a bad, bad word) for a nice bounce.
Artist:
There’s some shit coming out today on credit card loss provisioning that the street’s anal ysts look at.
Don’t know which way it goes, however there’s been some talk that it could show some marked improvement.
There was also a pretty frightening FASB report afew days ago to the regulators from the banks which also showed where they stood mark to market.
BAC’s total asset book is 14% under water for instance. Wells is even bigger. These are god awful numbers.
Here’s what I think.
It will be impossible for BAC and the others except JP and USB not to issue new stock between end of year and all of 2010.
BAC’s mark to market means it’s down on its book by $64 billion. I reckon they issue $30 billion in new stock and cover the rest through normalized earnings of $30 billion next year. This means the stock should be down 20% on dilution when the market gets wind of that.
I’m still holding as I have a 5 year time horizon and will buy into the issue as I think the stock has 40 -50 bucks on it over the next 3 to 5 years.
yeh, at this point, the unknown factor is which regionals will still be standing 3 years from now. I want to jump in on one or two for a long term, but finding the good ones is almost impossible given FASB and off book shit and other unknowns.
Indeud. I think the the time to get in was when they (regionals) were trading at option prices. I was focused on picking up preferreds and missed that trade.
j – You don’t think that dilution is already baked into the current prices? I’m only in the pref’s at BAC right now, but if we got a big dip I’d like to add on with a little common.
Dunno, yogi, It’s hard to say if it’s all baked in. However markets aren’t perfect and while the big end of town would obviously be aware of this they may wait to adjust when the issue is made.
Questions they would be asking:
Do you sell now and possibly miss out on it going higher?
Do you wait and get the issue at a lower price and blend the price?
Will the market then think that’s there are absolutely no more problems at BAC and shoot the stock higher as the issue could be seen as a swap from the government ownership of preferreds and the dividend they pay (and save) to regular equity? Does it re-weight to it’s real underlying earnings power?
It’s really hard to say, right?