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
23,441 Blog Posts

A Rally Built From Cement

The nasdaq had a decent day today. Inside of The PPT, my 4g index was up more than 1.4%—vastly outperforming both foreign and commodity stocks. Rightfully so, especially since tech stocks have been battered more than any other sector. If this market is going to rebound, tech stocks will lead the way. However, all sectors will participate, so get your fucking lists ready, as if your name was Santa Claus.

The rally will be buoyed by treasury/yen/dollar weakness. In addition, we should see a decent rally in oil, which is why I took down a position in UCO today. I expect to sell most of my recent positions into this rally; but I have not written such prophecies in stone—only cement.

Some of my long positions include BUCY, FLS, TNA, FAS, CBL, BAC, GLW and EWZ.

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48 comments

  1. Jg

    Fig

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  2. TheV.King

    My boy Terry V.Kings it on the floor….

    http://www.youtube.com/watch?v=6TTGUk0cugs&feature=search

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  3. Sierra Investor

    Fly, check this shit out. from a distress trader at Barclays. Short CRM debt.

    http://www.xtranormal.com/watch/6985513/

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  4. The_Real_Hmmm

    Long MIR, ETH, DSW, MLNX, and EBIX. Short STU and AZO (calendar spread put options, Dec on the far end). Those shorts saved my positions last week and this week. My regret was not getting long PAY earlier. E-commerce is way up in all of the retail sales reports and conference calls.

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  5. StocksRider

    Seems like Barclays is hiring dumb traders, rationalizing trading decisions with investment style thesis. Hasn’t he heard of short interest and relative strength? Why do you think NFLX went up from 117 to 137 in a matter of few days?

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  6. JakeGint

    You discount the magic three letters, small pleb…?

    AG

    AU

    _____________

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  7. Purdy

    Moral hazard in Europe. The irresponsible and entitled win again.

    http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100007444/it-pays-to-riot-in-europe/

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  8. michael

    Tomorrow we collapse

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    • alphadawgg

      The people in charge have no idea what they’re doing. “Winging it” doesn’t “cut it”.

      This story will have a bad ending for the many, the proud, the stupid.

      Don’t know about tomorrow, but do know this thing ain’t over.

      Will things get worse from here?

      Murphy’s Law reminds us that if things can get worse,…they will.

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      • Father Murphy

        Aye, aye, laddie. Yer fookin’ darn tootin’!

        Off to say seven Hail Marys.

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      • lol

        In truth, I think Murphy was simply an unlucky man suffering from paranoia.

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  9. Dirtydawg

    I feel tge rallies will be just during intraday action. The bears have big claws. Big money is not betting on the longs.

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  10. Asteroids

    I agree with Mr. Le Fly. I say we slowly float up or chop through the holiday and the week after. Just like last year. After that, God help us all.

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  11. ajb_2010

    Thanks for the small posting Mr F. Yea, should be interesting with tech.. leading. As a proxy, and using to short, I have enjoyed using SQQQ. It was very very interesting, seeing, SQQQ acting weak before the reversal, and sure enough , tech turned positive. Very interesting stuff, tomorrow, should be interesting depending on data, but I am sure weak data is going to give us another chance to partake in a small/temp. rally.

    Good nite all

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  12. TheArtist

    Fuckery is right around the corner.

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  13. Jesus Christ *Chuy*
    Jesus Christ *Chuy*

    Hello God.

    Good luck with your endeavours to produce dinero from air over the next few days. I will toss you an olive branch from my forehead and kiss the Veerhen Mother for you.

    GLW looks like a technical setup only an immaculate conception could love.

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  14. Cascadian

    Pacific ocean journey.

    http://www.youtube.com/watch?v=Ebjg8bDyN30

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  15. JakeGint

    Forget about your troubles now, and just Ride the Worm, my plebs!

    __________

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  16. Trading_Nymph

    We may chop tomorrow, but we still haven’t formed a nice bottom yet. How many more days until September?………………Fwiw, there is a guy called Terry Laundry, sort of like a Stock Rainman, well he has been calling for a big drop after a peak on August 26 for months…………..also, I wonder, is everyone doing a Pairs Trade of going long the vxz and short the vxx? It sure appears to be the case.

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  17. HuggieBear

    why does TLT go up every single day?

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  18. Le Fly

    Hugh hendry, thats why

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  19. Prospectus

    The Laws of Mathematics win again

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  20. Rand

    Ahh, today in houston, the weather is perfect, more oil field contracts are inked, and five more 80,000 ton cementers will be built. Ah, its good to be in tbe oil field equipment business.

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