Click here to view iBC’s dictionary, 2008 edition.
While many market participants live inside a shark bag, in a constant state of fear from, well, the fucking shark, “The Fly” aka “Horatio Clawhammer” has been pole vaulting on you fucking homos since the days of the Civil War (“The Fly” was a stock broker in all of his previous lives).
Today was a rather odd day at the office, as basic resource stocks melted up, while banks were met with brass knuckled jabs to the teeth. Holding a rich cash position, more than 35%, I’ve been pondering over some good pair trades, while sipping, mind you, never drinking, numerous glasses of cognac. Should you ever meet me in person, NEVER ask me to drink with you, for I will not.
Anyway, I’ve concluded that there are many emotionally disturbed individuals with vast sums of dollars at their disposal, hell bent on seeing stocks go up, if only for awhile.
Thus far, I am long select banks, like C and BAC, along with FAS to hedge FAZ. However, that’s just me throwing shit against the wall. Bank stocks are grossly idiotic investments and should always be paired.
Into a rally, as sure as I’m sitting here, internet stocks will catch fire. People love buying those names, when times are good. Hell, already we’ve seen a huge run up in semiconductor names. There is no fucking way semis can run, without a little net action.
The basic fundies of the net are good, with traffic perpetually increasing, as people say “fuck off” to their televisions/newspapers and say “hello” to websites, like iBankCoin.
How can I not be somewhat bullish on the internet?
Anyway, the knee-jerk pick is GOOG, due to their overall dominance. But there are other names worth a look. Plus, I fucking hate google.
For example: AKAM
Generally, CDN’s like Akami have been hammered by price wars and other players entering the field. However, with two of their competitors on the ropes, LLNW and LVLT, AKAM may gain some traction/market share.
If you are willing to buy GOOG, you might as well get long BIDU too, for the love and sake of China.
And my controversial pick is: TSCM
Basically, the site (Thestreet.com) is a fucking albatross on financial sites everywhere. To sum up the site, from one of my French employees, “They fucking suck” (heavy french accent). However, with over $2.50 in net cash, Cramer would have to jump off a bridge or get fired from CNBC or something equally awful, in order to drive shares much lower.
Some other internet related names, with large net cash per share ratios include:
REDF, INSP, DIVX, DRIV, JRJC and VIGN.
It’s also worth noting, my gut check pick is VCLK, as evidenced by my recent purchases.
On the short side, I will remain steadfast in my wild eyed theories that Commercial RE is fucked. Aside from shorting KIM and VNO, TCO, IRC and SLG look somewhat doomful.
Within the banks, TCBI, PRSP, CFR, PACW, PCBC and EWBC look dreadful. I particularly like short Texas banks here, due to my bearish sentiments on crude.
Finally, I am against the inflation trade, as you know. To hedge my bets, I am short t-bills via TBT. But, sticking with the deflation trade, I am aghast by gold stocks up at these levels. Some names worth shooting at include: NEM, LIHR, AU and AEM.
All in all, 2009 will be chockful of many twists and turns. I am sure to fuck up many trades, as well as nail the majority. Nonetheless, the one thing that is a constant in this crazy, crazy world is the glorious victories, which shall be claimed by “The Fly,” with smaller ones by his iBC cohorts.
Moreover, I am sure most of you will encounter Mr. Clawhammer, at some point in your investment careers, while betting against him, in a most disrespectful way—as most beggarly men conduct themselves while cloaked in secrecy. I know this.
However, be made aware, when your little accounts reach the sum of $00.00, you will know why and how to behave, in the presence of unclouded greatness.
Good night.
UPDATE: Maybe you should wake up.
[youtube:http://www.youtube.com/watch?v=r8CIblRiccc 450 300]
UPDATE II: This was already posted in KOPG. But, it is so funny I had to post it again. Denninger has nothing on this guy.
[youtube:http://www.youtube.com/watch?v=U_gqxYGvJdI 450 300]
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