iBankCoin
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
19,982 Blog Posts

Tonight, Vote for “The Fly”

If he could make unearthly, even Godly, market calls, imagine what he could do in war. Hell, “The Fly” would conquer The Great Wall of China in three days, then spend the rest of the week throwing Monster Energy Soda’s at the rice farmers.

I’m sure by now, many of you naive true believers have come around to my way of thinking: the market is fucked in a sandbox.

The banks are a mockery. I spit on them.

It’s time to start selling my longs again. Today, I feel like selling tech. Perhaps I’ll get rid of that silly [[RIMM]] or [[AAPL]] I was foolishly buying. No need to worry, since my double inverse etf’s has me up 2.4% intra-day—spearheaded by the morons at [[LEH]].

Right away, with my money, I will be buying more [[SMN]].

Fuck the Banks NOTE: 10:32 Bond Insurer downgrades may have significant impact on banks, “a few” banks could be downgraded, according to S&P – Reuters

NOTE II: The early leaked ISM data was “God awful,” by the way.

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Wiz Khalifa: Say yeah

[youtube:http://www.youtube.com/watch?v=clbFHMjVJXc&feature=PlayList&p=8AF18B710B3DB739&index=31 450 300]

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Keep Waiting

While it’s true, one day does not make a trend. It’s also true, last week’s short covering rally does not mean we’ve bottomed.

Last week, those fucking soup lines from “early January” magically morphed into high end Starbucks cafe’s, as poor became rich and the market had “bottomed.”

However, in the real world, where people are getting their houses snatched, financial institutions are eating wood. Capital spending is down and margins are being squeezed.

With my money, I will make sure the downside move is legit, prior to selling more of my long positions. Additionally, I want to remain short [[DECK]], [[LEH]], [[C]], [[BAC]] and [[WM]].

On the long side, again, I like [[AIZ]], [[CMO]] and [[CLX]].

Also, I have a floating position in [[NTRI]], hoping for the fat fuckers to “diet up,” sending the stock higher.

Finally, ahead of the Chinese holiday, expect to see ridiculous runs in China related names, as euphoria peaks. However, this is a perfect opportunity to fleece the fucking rice farmers of their coin, via buying [[FXP]], [[EEV]] and [[EFU]].

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Fuck the Banks, part 3!

“The Fly” is quite pleased to see [[WM]], [[LEH]], [[WB]], [[WFC]], [[ABK]], [[COF]] and [[MBI]] shit the shower.

Last week, the dumbest possible money was piling into banks, as if those fuckers were going to new all-time highs. Cramer was exclaiming, going into recessions, the market goes up in a straight line, with hardly any pullbacks.

In short, my head was spinning, thinking, “how could everyone be so gay”?

None of the above is true. In the past, recessions riddle investors with “fuck you, you’re dead” losses. With regards to timing: typically, the market bottoms out after unemployment reaches 6%—providing the recession is mild.

With unemployment at 4.9% and the economy slowing, you have to be out of your fucking mind to “go long and strong” up at these levels.

Again, without a doubt, I feel the market will trade 10-15% lower in 2008.

On the long side, right now, I like [[CLX]], [[CMO]] and [[AIZ]].

AIZ sells property insurance to banks taking possession of foreclosed homes.

Very nice (Borat accent).

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“The Giant Top”

So sorry for not posting. I’ve been quite busy counting my money.

As you already know, “The Giant Top” is in, as investors take a step back and realize the economy blows balls.

While it’s true, typically, markets bottom 4 months prior to the end of a recession; we’re not there yet. In all fairness, the economy needs to get a lot bleaker, in order to shake out the Cramer crowd.

Anyway, thus far, I’ve done nothing today. For now, I’m happy to see the components of [[SKF]] go lower, while [[RIMM]] trades up.

Back to counting my money.

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Giants Win; Market Set To Rip

“The Fly” had an unbelievable night—at a surreal Super Bowl party.

More on this later.

Just know, the traders on the floor will run the market higher tomorrow, as the “feel good” attitude spills into market sentiment.

UPDATE: Get your Super Bowl winning “The Fly is Watching You” organic tee’s now—before they’re entirely sold out!

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Pre-SuperBowl Thought

The only reason why railroad stocks are running is because of “coal rage,” not a booming economy.

Go Giants.

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