IBANKCOIN LAUNCHES; SHORTS GET THEIR BALLS CUT OFF
Mon Nov 12, 2007 9:09am EST 28

Is it any surprise?
As you know, we are due for some sort of space magic type bounce, considering the relentless selling of last week.
Also, the shorts are way over zealous, selling big banks below or near book value.
Again, with my money, I want to be long the banks for the upcoming short squeeze, which will be brutal.
Within my positions, the big stand out is HANS. That fucker has booked almost 10 points, since its earnings day massacre.

Considering the recent run, I don’t want to buy more HANS here. Wait for a dip.
My guess, the market sprints 2% today, effectively “de-balling” the jerk offs who shorted into Friday’s close.
On this bounce, CFC, BWLD, VMW, VMI, GRMN, and MVIS are worth a look.
Finally, my fucking “shotgun to the head pick,” VMI, is starting to piss me the fuck off, with its queer price action.

Don’t you fuckers know there isn’t going to be enough fresh water supplies to sustain the fucktarded population growth in the world, short term?
Milk the farmer. He has loads of money.

Very simple narrative being played out here, so let me translate.

This is what the Fed said.

“We just touched 2% core inflation to pick one measure. Just touched it for a few months and then we’ve fallen back,” Powell said from Washington. “So I think we would need to see a really significant move up in inflation that’s persistent before we would consider raising rates to address inflation concerns.”

I do not know why rates were edging higher the past two weeks, but they’re knifing lower now. The 10yr is off by 5bps to 1.78%. Aside from liking stocks here, I also like gold, not for defensive purposes — but offense.

Rates have correlated nicely with gold the past year and we have a shot at breaking or meandering inside the Fag-Box to the upside.

Aside from my guns drawn approach to stocks, I am also long TMF, double upside treasuries — because I believe. I believe in a world where rates are all negative and I can buy property with a negative yielding loan.

Markets have responded kindly to the Fed, no rape. The price of gold is hugging $1,500, at the same time bonds are spiking. I like it. I like it. I fucking like it.

Good shit. Talk tomorrow, fuckers.

Ever since I was a very small boy I’ve been trading stocks. You were out slapping hockey sticks across your friends face while I was at home paper trading an imagined stock market taken from my WSJ. I didn’t grow up around anyone who traded or had money, so it was completely organic — this obsession of mine. Religious people might say Le Fly was born to trade stocks, help others extricate themselves from their middle class maze of hamster wheels and oppressive debt. While you might imagine yourselves to be better than me or even in the same league, bear in mind that this is not true.

My last 27 trades, fucked faces.
STMP +19%
ARWR +6.4%
GME +5.1%
TROV +9.9%
TROV +9.9%
MNK +7.8%
BBBY +9.3%
(MLNT -10%)
CARB +2.7%
PDD +12.46%
LULU +1.5
(NVCR -10.3%)
LPG +3.6%
EW +2.6%
ANTM +3.1%
SPOT +16.8%
OKTA +4.6%
BYND +2.96%
(FIZZ -6%)
(TREX -7.5%)
(ASMB -8.5%)
(BLDP -2.65%)
SPNS +4.4%
ZEN +6.1%
CROX +4.55%
OSPN +4.1%
TZA +2.4%

I took the CROX and OSPN trades today, mostly for fun — not because I wanted to, but because I could. I netted over 4% on both, annualized return off the fucking charts. I had TZA from yesterday and just parlayed that for a small win. Markets are responding favorably to the Fed, so I removed my hedge. And let’s not forget the ZEN, big win post earnings. This is what I do every single day.

Let’s not forget.

Into the close, I assume markets will remain strong. I have 35% cash now, following my sales, so I might be inclined to venture out into the deep blue for a few more fish.

As you gents go about your day, willingly placing your ass out there for the world to see. I just wanted to remind you that the Fed is making a decision at 2:30pm and they’re liable to RAPE you for dressing inappropriately.

I know, the victim is never at fault; but you shouldn’t be walking out there with your ass hanging out either. By ass hanging out, I mean fully invested, margined to the hilt, tilting sideways and out of bullets.

You cannot do that.

This was your last reminder.

The stock looks so fucking good, I can see it running straight to $10, chopping off the cocks of all the Johnny Come Lately short sellers who got in for the move to $00.00. My only apprehension, of course, is the actual specter of an intraday bankruptcy note or perhaps some upstart FUCK FOR BRAINS like Citron issuing a tweet with a price target of negative $50 per share.

Clearly the stock wants higher and I have big balls. I mean, I buy anything and have no qualms about playing this game. But the stock is already up sharply and the entire state of California is under God’s wrath, presently burning down with great alacrity. It’s hard, Ringo, real fucking hard justifying buying this stock up here.

But the stock is down from $70 and what if they make it?

WHAT IF THEY MAKE IT?!

This is the stuff pipe dreams are made from, ordinary guy, blogger, looking at the big stock and thinking about the things he can do with the profits from the big stock. Oh, the dreams of grandeur. I could perhaps buy myself a NEW LAWNMOWER, or even better, A NEW FUCKING BENZ that can break down on me costing my inordinate sums of dollars and incalculable stress, thereby shortening my lifespan to such a degree that buying PCG would be a moot event, a cancellation of sorts as all parties lose under such a scenario.

For the day, I sold ZEN +6.1% and bought two other fishing poles in the hopes of capturing some more fish. I have an eye on markets here for a large move downward and will trade the volatility, as prescribed.

I donated my dining room table and chairs to charity over a week ago, because I bought a new table and chairs. But that fucker has been delayed and now I’m living without a table, forced to eat at or around counters, dropping crumbs all over the place. Between this and the fact the kids eat like birds, I’m thinking about taking a break on my Chef-hood. As you know, Dr. Fly has been a master chef in the kitchen for the better part of the last year, whipping up all sort of grandiose dishes, all learned in the traditional French technique for the benefit of those around me.

Are they grateful?

Of course not. But I do it for me, because it’s therapeutic.

Today is Fed day and we’re looking at another absurd interest rate cut. However, should they release a greasy statement, indicating no more cuts for 2019, you should expect stocks to decapitate themselves.

The Fed is widely expected to cut interest rates by a quarter point on Wednesday, its third rate cut since July.

The consensus view is that Fed Chairman Jerome Powell will indicate that the Fed is pausing in its rate cutting, and that the central bank will watch the economy to decide future moves.

On the matter of gold, you cannot touch it whilst rates are edging higher. Right now we’re in an odd spot and I prefer cash over uncertainty.