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Comments »Tonight, I Will Eat Chocolates Made of Gold
Much to your chagrin, I made “buckets” of coin today, as the hatfucking banks, collectively, fell into an idle snake pit. Thanks to many failed bond auctions, there is fear permeating the market, with regards to the lack of liquidity at our lovely institutions.
Aside from that, it appears Ducati has quit, iBankCoin? Is this true? If so, I may need to quickly reassign his fucking blog, to a non-deserving Peanut.
Being that it’s Valentines Day and all, I will not bore you with “The Fly’s” superior trading moves. Instead, I will remind you that death and “great harm” will afflict the banks. Should you ignore these dire warnings, I will be forced to track your dumbass down and punch your fucking chest hairs off.
Be well.
NOTE: [[MBI]] and [[ABK]] are liars. All of them. The whole lot.
UPDATE: The party at [[CMG]] is officially over.
UPDATE II:
| Banks advised to walk away from big deals – FT | |
| FT reports leading banks are being advised that it would be cheaper to walk away from big buy-out deals than incur further losses on their funding commitments, increasing the chances that more high-profile private equity transactions will collapse. This advice from lawyers contrasts with the conventional wisdom that banks would risk serious damage to their reputations if they were to drop out of deals. But legal advisers argue that the break-up fees banks would owe in such cases would be far lower than the write-downs they would have to make on their loans, given the current cataclysmic conditions in the capital mkts. “It is the tipping point argument,” said a senior partner at one of the biggest private equity group, who asked not to be named. “The banks have so many issues with their balance sheets that they are considering a new policy.” However, such a radical shift could have a dramatic impact on the mkts. The presence of private-equity buyers is one factor that has helped boost stock prices… |
The Next Shoe is a Boot
Minyanville has been all over the failed Muni auctions, over the last week. Last week, I outlined how [[ADCT]] fucked itself reaching for yield.
To sum it up, the auction rate market is seizing up. Just today, [[UBS]] said they will no longer support failed auctions. In my opinion, the failure of these securities is due to the lack of liquidity at banks. If these fuckers can’t support the Port Authority of NY/NJ, how are they going to lend money to subprime fuckers wanting a McMansion.
Eggsactly [sic].
This mess has just begun. Look for it to grab the headlines, shortly.
Long [[SKF]]
Comments »Fuck the Banks, part IV
Thus far, the market is in profit taking mode, with the exception of ag stocks. I remain a stalwart bear in the banks and brokers. From [[LEH]] to [[GS]] to [[BAC]] to [[WM]], I wish them all a swift death.
The tech sector is taking a breather, allowing “The Fly” to retrieve some of his lost coin in [[REW]]. Good for me.
Rick Santelli is going “gangster” on that economy guy from CNBC— right now. Good for him. And, in a short while, Bill Ackman will go “tommy gun mafia” on Congress, regarding the pending doom at [[MBK]] and [[ABK]]. Good for everyone.
Let the recession begin now!
Regarding sovereign wealth funds:
They’re a risk to national security. We ought to be ashamed of ourselves for being in a position of needing a fucking bailout from foreign nations. The asshats on tv will say “oh, we can’t close our borders to investment and be protectionist.” As you know, there is a big difference between a foreign company buying a piece of [[C]] or a sovereign wealth fund—who is funded by Government.
Finally, I like [[VMI]] here, ahead of tonights earnings. Most likely, I will belong 10,000 shares, fully prepared to lose 10 bucks, should things go “awry.”
Comments »Asian Markets Reduce Bears to a Cinder
Developing…
Comments »Quick Alert: More B-12
Using the advice of Mother Clemens, “The Fly” just injected himself with vitamin B-12. As you know, the pill form is simply “not enough.”
UPDATE: Woodshedder’s trainer just injected him with a full dose of heroin. Wood is calling a bottom in the banks.
Comments »Dave Matthews Band: Crash Into me (Live)
[youtube:http://www.youtube.com/watch?v=sw_x8XtngGM&feature=PlayList&p=8AF18B710B3DB739&index=37 450 300]
Comments »It is What it is
Big day for the bulls. Despite the weakness in bank stocks, buyers stepped up and punched the fucking eyebrows off the bears.
In short, the market is crazy. One day, the market looks like it’s going to zero. Then, the next, the market is shooting for 30,000.
The best approach to this market is to take intra-day rips or be both long and short. Right now, I am comfortable being short the banks and brokers, but uneasy about tech.
Tech and ag have the mojo. Get on the wrong side of them and lose your house.
Towards the end of the day, I covered some of my [[LEH]] short, while loading up on [[VMI]]—just in time for tomorrow’s numbers.
VMI should blow away numbers and spike. They sell irrigation systems to farmers. How could they go wrong?
Finally, it’s worth noting, I was only down 0.7% today, despite being heavily short. Either I’m incredibly lucky or the market will shit the shower, sometime soon—led by financials.
Comments »Fly Buy: VMI
I bought 2,000 [[VMI]] @ $84.20.
Disclaimer: If you buy VMI because of this post, someone will inject your wife with HGH, without your knowledge. And, you will lose money.
Comments »The Verdict is in
“The Fly” finds Roger Clemens guilty of taking steroids. However, in true police form, I have ordered the arrest of the drug dealers, not the user.
So, with that being said, Mr. Clemens is exonerated of all the frivolous charges levied against him, mainly because he is a kick-ass pitcher. Plus anyway, how could I be mad at a crack addict, who plays baseball in one big crack house?
Aside from that: natty looks uber good here. And, with [[LNN]] shooting higher, look for a sympathy move in [[VMI]].
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