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
19,909 Blog Posts

This Time, Charlie Throws His Meatballs at the Bulls

Apparently, the [[ABK]] “deal” has hit a “snag,” according to CNBC’s Gasparino.

In other news, with futures down nicely this morning, it appears “The Fly” is well on his way to advancing to round two of the Final Four Mad Stocks Contest.

Did any of you really think I’d lose?


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Wait Until You See Those 10-K’s

Today, you got a small preview of what a good 10-k, authored by a very cautious auditor, can do for a stock price: [[TMA]].

This is the reason why you read the blog of a “space alien magician,” and not some queer Dinosaur’s —with a fake office (plastic palm tree and all).

The banks will get hit, on disclosures reported in their 10-k’s. Watch and learn.

Aside from that, today was a great day for the bulls. Frankly, I’m shocked the market wasn’t down more, considering the homo data.

As you know, inflation is out of control, yet Bernanke is a fucking loose cannon, lowering rates to rescue banks. In all fairness, some of you bloggers need to quit blaming Bernanke for all of the markets problems. He didn’t make Joey Bag-o-Donuts take out a teaser rate mortgage and leverage up to buy 10 investment homes.

His candor (Bernanke) is refreshing.

Finally, I’m appalled that commodity related stocks will-not-die. For now, I like [[SRS]], [[SKF]], [[UDN]], [[DJP]], [[GLD]] and [[WBD]] for short and intermediate term trades.

NOTE: Fuck [[WM]] and [[LEH]] too.

UPDATE: [[DECK]] is tanking on great earnings. Which reminds me of the famous quote: “The Fly always wins, even when he appears to be losing, badly.”

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Fly Buy: SMN

I bought 1,000 [[SMN]] @ $36.68.

Disclaimer: If you buy SMN because of this post, Gasparino will punch your lights out. And, you may lose money.

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Want to De-Couple?

Take a look at [[EWM]], which is an ETF representing Malaysia. I’ll have you know, Malaysia is the biggest producer and exporter of palm oil in the world.

The primary driver for palm oil these days is for energy needs. It is used as a biofuel and is deemed a “clean fuel” by all the greenies.

The biggest producer of palm oil is a company named Sime Darby, which represents more than 9% of EWM. See Sime Darby chart here.

Last year, Malaysia’s economy ripped higher at a 6.3% clip. They do not expect to slow much (5.6%), during 2008. The risk, of course, is slowing growth in the U.S., who is Malaysia’s biggest consumer of manufactured goods.

If you’re looking for a direct play on the burgeoning demand of palm oil, EWM is the way to go. Thus far, I have no position and have been waiting for a meaningful pullback to get in.

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“The Fly’s” Top 10 Holdings

I’ve been all over the place with my commentary, as of late. Often times, I react very emotionally with words to market sentiment. However, I am much more narrow minded in my position bias.

Here is a current look at my top 10 holdings:

1.  [[REW]]

2. [[SMN]]

3. [[SKF]]

4. [[SRS]]

5. Short [[LEH]]

6. [[RIMM]]

7. [[FXP]]

8. [[AAPL]]

9. [[GD]]

10. Cash

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The Bulls Are in a Figure Four Leg Lock

When “The Fly” was young, he always tried to apply the “figure four leg lock” on his friends, but had zero success. Frankly, I think wrestling was lying about that too. That shit doesn’t hurt.

Nonetheless, it sounds ominous and the bulls are in a tough spot today, with soft GDP numbers and weak employment data.

As you know, in an amazing twist of events, just yesterday “The Fly” aka “Senor Tropicana” was ready to throw in the towel—right at the top of the range. However, after a few shots of espresso and some “talking to” he regained his financial manhood and towed the line.

With regards to today’s trading:

Things look bleak, with massive losses in [[TMA]] and a variety of bank stocks—with notable exceptions to [[FNM]] and [[FRE]]. As you know, both Fannie and Freddie are operating flawlessly— combined losing more than 6 billion over the last 3 months. Well done.

Within the DOW, [[GM]], [[AIG]] and [[JPM]] are underperforming.

And, let’s not forget about my bagel dilemma, which seems to be affecting the shares of [[BAGL]].

On the bright side, energy stocks look ok, with nice gains in [[EOG]] and [[RRC]]. [[WNR]] posted a ridiculously bad set of numbers—giving new meaning to their ticker symbol annunciation.

Finally, shares of [[AAPL]] are on the rise, due to positive guidance at a Goldman Sachs conference yesterday. And, [[S]] is gapped lower on horrendous quarterly results and elimination of their stupid dividend.

All in all, it looks like a good day to be long [[GLD]], [[UDN]], [[SKF]] and [[SRS]].

NOTE: Go check out Gunners’ post on [[VNO]]. Great stuff.

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It looks like someone has a small margin call of 300 MILLION. No problems. 300 million in space cadet money is equal to 1 “vanillian” space dollars, which as you know is very “doable.”

Perhaps my theory that some “corn cob fuckers” were propping up the banks, in order to prepare them to absorb bad news was true?

CNBC loses again.

NOTE: [[TMA]] only has the “good mortgages,” right Charlie?

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