iBankCoin DECLARES WAR!

Man your battle stations. Woodshedder to the cafeteria. The mothership is readying to fire internet laser beams into your bullshit third tier blogs.

Developing…

What the fuck was that?

We went from down a lot to up to back down huge, all inside 30 minutes. Seriously, I fucking loathe this tape. With the absence of short sellers to bid for spiraling banks, the volatility is insane.

Despite being down for the day, my intra-day buys and sells were accurate. We will see how smart I think I am, sometime early tomorrow morning.

My bank longs, Synovus Financial Corp. [[SNV]] , Citigroup Inc. [[C]] and [[UYG]] did well, while my recent foray into commodities sucked wind.

Go figure.

Off to drink a few dozen shots of gasoline.

It’s the ultimate ‘Constanza trade.” We will goose step higher, while the banking system gets transferred to a life support system.

I can tell you, with a certain amount of certitude, many of my ‘smart friends’ are short stocks like out of control imbeciles. For the moment, “The Fly” believes the crisis is over. The government is in control and they will brainwash or arrest short sellers, in order to jolt stocks higher.

I know it’s sort of a ‘conspiracy theorized trading philosophy.’ However, in a world of smoke and mirrors, sometimes all that matters is intuition.

While it’s true, Congress can mangle the bailout and fuck everyone, ad hoc. I rather ‘go government’ on egregious short selling malcontents and buy up massive quantities of Citigroup Inc. [[C]] , [[UYG]] , [[ROM]] and Freeport-McMoRan Copper & Gold Inc. [[FCX]] —in order to hedge for inflation.

As for my endeavors into coal:

I do not like it—not one bit. But, I believe the knifing price action smells of capitulation, regardless of underlying fundamentals.

So, to sum things up:

Long banks, tech and coal.

Short third tier blogs, elections and men who wear makeup on tv.

Here are some of the things I just did:

Sold some of the [[SRS]] I bought in low 70’s.

Sold all of the [[FXP]] that I bought yesterday.

Increased my Walter Industries, Inc. [[WLT]] position by 30%.

Increased my Peabody Energy Corporation [[BTU]] position by 30%.

Bought back some Citigroup Inc. [[C]] , which I sold Friday, north of $20.

Sold out of my entire Interactive Brokers Group, Inc. [[IBKR]] position.

Sold out of all of my Western Refining, Inc. [[WNR]] position.

Increased my Freeport-McMoRan Copper & Gold Inc. [[FCX]] position by 10%.

Increased my Synovus Financial Corp. [[SNV]] position by 30%.

Once again, Mother Market has decided to rip my face off—this time with a twist. First, the bitch let’s me execute Godly trades, then she proceeds to taketh away, via dickfaced coal trades and erroneous financial equity purchases.

For example:

Synovus Financial Corp. [[SNV]] was trading $12.68 at the close on Friday. Then, all of a sudden, the fucker just gapped lower in after hours and printed $11.35. What type of shit is that? The next day, BAM, another buck lower in your facia.

Moving along, I decided to get all union and shit and buy some beaten down coal names: Peabody Energy Corporation [[BTU]] and Walter Industries, Inc. [[WLT]] . Lo and behold, within 10 minutes of my purchase, I lost a gazillion dollars. Now you are probably wondering if there was a respite the next day?

Answer: of course not.

The bitch (Mother Market) is out to get me again. The only thing that seems to be working for me, at the present, is betting against the assholes in China, via [[FXP]] Ironically, I need those same scum bags to buy coking coal, in order to buoy the share price of WLT.

Look you, I just got back from a long/arduous meeting. Let me take a look at the market and get back to you.

Thus far, I am not a happy man.

UPDATE: Goldman Sachs says Berkshire to invest $5 bln in Goldman preferred; says its raising $2.5 bln in common stock offering – Bloomberg (125.05 +4.27)

Nothing works. Everything is broken.

[youtube:http://www.youtube.com/watch?v=FIvMTsAZ8lw 450 300]

Everything is trading strange. Oil is threw the roof, yet oil stocks are blah. Banks are crashing through the floor boards, yet [[SKF]] is hardly up.

What’s up with that? Did the government put some sort of asshat top on SKF?

My Freeport-McMoRan Copper & Gold Inc. [[FCX]] is trading erratic. Fucking insane.

Quite honestly, if I was just taking a view at today’s tape, with knowing the underlying bullshit, I’d say we are about to fuck the retail investor in epic fashion.

When nothing makes sense, go eat a sandwich. That’s what Grandpa Fly used to say, just prior to lathering himself with oil oil—readying up for a good old school Italian tan.

Just today, I had my face ripped off on some new purchases, which do not need to be repeated, mind you. And, all of my new bank longs, Citigroup Inc. [[C]] , Synovus Financial Corp. [[SNV]] , Interactive Brokers Group, Inc. [[IBKR]] , [[UYG]] , pelted me with large stones.

Hey, at least my nibbling of [[SRS]] is paying dividends. And, just in case, I bought some [[FXP]] —mainly because I hate chinese stocks.

All in all, the current theme should be to get long commodities in egregious fashion. However, at the moment, everything is in flux. You might be better off playing video games or going to strip clubs, than fucking around in this rigged game.

I bought 5,000 [[FXP]] @ $86. And, I bought 2,000 Walter Industries, Inc. [[WLT]] @ $64.30.

Disclaimer: If you buy the above stocks because of this post, you too will “enjoy” horrendous intra-day moves. And, you may lose money.

I just bought a basket of energy stocks, which includes National-Oilwell Varco, Inc. [[NOV]] , Transocean Inc. [[RIG]] , Occidental Petroleum Corporation [[OXY]] , Ultra Petroleum Corp. [[UPL]] , Walter Industries, Inc. [[WLT]] and Peabody Energy Corporation [[BTU]] . I want to be a part of the cool run up to $200 crude.

Just when you thought the commodity bubble was deflated, BAM, the government fills it back up for us, via cheap whorish money.

As Thursday and Friday meant death to all short sellers of banks, today is the God of oil short squeezes, with that fucker being up more than $20 per barrel now.

Just to recap:

The economy appears to be fucked again. Shocker. Prepare to pay $200 for your Thanksgiving Day turkey.

As for my bank longs:

Today’s drop is acceptable. One cannot expect to make money everyday. However, I can. My losses are somewhat limited, being that Citigroup Inc. [[C]] is my largest bank holdings. The Synovus Financial Corp. [[SNV]] drop is quite a nuisance, but not detrimental—at least not to me.

The $100 question I have for you is this:

If [[KOL]] is sprinting higher like this, why is WLT flat? Can it be a market error? No, never that. The market is never wrong. Let me go investigate; I’ll get back to you later.