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
21,075 Blog Posts

It’s 2007 All Over Again– NEW ALL TIME HIGHS

Yes, indeud, it is 2007 all over again. The only differences: this time around our banks are flush with cash, the housing market already cratered and is now in recovery and US corporations have record amounts of cash on their balance sheets. Valuations are cheap. You can re-read my article from the other day, or you can trust me enough to believe this market is going up until tax day.

During the perverted summer months, people like to partake in drug induced orgies, leaving little time to think, let alone invest, about stocks. When they’re finished, typically sometime in September, they make all sorts of erratic decisions, finally settling down in October through April.

Rinse and Repeat.

If I had cash available, I’d buy RAS and CBG–because both stocks are heading higher.

For now, I am forced to settle for a meager 2.4% return for the day–putting me within 2% of last week’s severe and thorough drubbing.

Short sellers: you’ve been dispatched.

 

 

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36 comments

  1. The Zombie

    The Fly is God.

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  2. jimmy_two_times

    Giddy Up !! (full Kramer)

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  3. Vertigo

    AG is knee-capped. Deservedly so.

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  4. treepart

    any opinion on HLF grind up today?

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  5. Zero Dark Kitty

    A great Texan and a great American has died today:

    Van Cliburn

    Without his piano playing prowess we would be listening to instead Alla Pugachova instead of Rick Ross.

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  6. juice

    another big diff w 2007 … the greatest stock mkt president ever, Mullah Obama vs the worst, Senor Bush Junior

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  7. Trading_Nymph

    Well I am Back from my Month Long Trip of Italy/Paris. It was AMAZING..Had a Papal Audience two days AFTER he announces he was going to quit. Have my Movimento Buttons after I joined the rally in Milan. Saw so many major pieces of art. Partied at Venice and Vieraggio Carnivals…Italians hate Germans btw. Euro has to become weaker, they are the largest global economic power and they are in trouble..plus China is going to cut cost…ciao.

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    • Trading_Nymph

      VIAREGGIO…I am such a bad speller, like duh.

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    • Yabollox

      Italy going full Berlusconi– let the good times roll! To hell with austerity.

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      • Trading_Nymph

        Yabollox, I should post my Viareggio Carnivale Pics, they have HUGE floats..One was a Jazz Band called “Fuck the Austerity Band”…they also had one float with Merkel eating Monti’s Sausage…oh, oh..they throw confetti, not beads there.

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    • The Eye-Talian Stallion
      The Eye-Talian Stallion

      Since when did Europe knock the US off of the “largest economic power” podium? I must have missed that…

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      • Trading_Nymph

        In 2012, the EU’s economy produced $15.7 trillion, while the U.S. came in at $15.6 trillion..US is the number one Country…but EU all together beats us.

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        • The Eye-Talian Stallion
          The Eye-Talian Stallion

          It’s not about production, it’s about consumption. We consume 50% of the worlds goods.

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          • Trading_Nymph

            Depends what is being consumed. China is Biggest Copper consumer, etc. But, I am pointing out the decoupling theory…EU is going down, China is going down..both hurt by a weaker USD, Clams of the world have been throwing historical money at the problem and what I saw in Italy it is only gong to get worse…but I am a Bear.

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  8. Yabollox

    Nose dive next year?

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    • John McAfee

      If not next year, surely the year after that, or the one after that..

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  9. theedge111

    Nice job Fly. Still long but hedged.

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  10. Jackass

    Fly why hasn’t VHC moved higher? I would have thought it would have been a moonshot today.

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  11. John McAfee

    Rented corny looking suits for music video, Ballin’!

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  12. flyaway18

    Keep your poise and don’t get too giddy. Bottom line is still capital preservation! EBIX up nicely today and look at FIRE, both mentioned by me last night. No position though, lol. DECK and SHLD up tomorrow. Nice run-up in SHLD but DECK is so bearish.

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    • Vertigo

      ELLI is struggling, you holding?

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      • The Fly

        Sold weeks ago

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      • flyaway18

        I’m holding ELLI, it’s not a big position for me. My biggest positions are ETFs because they are less volatile than single stocks. The ideal time to sell ELLI was that big pop at the open the day after it reported. I sold my original position the next day for a small gain then bought it back on the dip last week. There’s a $34 price target by one analyst but you know how that goes. Let’s see how it behaves. What do you think? The one I want to tank is HLSS – I sold it and want it back but not at $22.

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        • Vertigo

          What do I think? A stock that reports earnings & guidance upside but behaves badly is an avoid. Nonetheless may you have large profit if I’m wrong.

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        • Vertigo

          Price targets are total bullshit. No one knows how far a stock can run or fall.

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        • Mr. Partridge

          Stop that momo talk, it’s for kids mature people hold canadian telecoms lol you remember when I started with them… all 3 still intact: TU RCI BCE …
          as Mr.P’s students day : the good shit.

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          • Mr. Partridge

            day.. say .,.. freaking spelling

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          • flyaway18

            ah, there is my partner! You’re the best!

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          • Mr. Partridge

            far from it 🙂

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          • flyaway18

            Vertigo, Fly sold @ near the fucking bottom as I bought the day he sold, fucking #timestamped. Made some coin, and bought again! Stop being a kiss ass as Fly lost money and I haven’t yet on ELLI!

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  13. Raise Taxes, Raise Spending
    Raise Taxes, Raise Spending

    “Yes, indeud, it is 2007 all over again. The only differences: this time around our banks are flush with cash, the housing market already cratered and is now in recovery and US corporations have record amounts of cash on their balance sheets.”

    Now all we need are the customers and we’ll be laughing.

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  14. DJMarcus

    thanks for your gun stock suggestions. going to be banking some coin, le fly. much appreciated.

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