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
19,768 Blog Posts

The Market Has Bottomed, Again

If “The Fly” had any money left, he’d buy AAPL, RIMM, JCG, VMW, VMI and FMCN.

UPDATE: False alarm. You may resume your regularly scheduled bear raid.

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Fuck $100 Oil

Hey, I saw this happening (think time machine) a long time ago. I even created a fucktarded blog, declaring the inevitable. Remember when Goldman slapped a $100 price target on oil and every laughed at them—calling them names?

Who’s laughing now, fuckfaces?

Look, oil at $100 is plain ol’ vanilla gay.

I don’t buy the ‘global growth story’ shit.

Either the price per barrel is one big scam or we do not have any oil.

In other words: peak oil.

Watching the market melt like a cheap K-Mart candle, while CNBC ‘celebrates’ $100 oil, makes “The Fly” want to go out and randomly throw m-80’s around NYC.

Hey assholes at CNBC: $100 oil is not one of those ‘good problems’ to have, unless you are an oil trader.

Has anyone ever told you: “the American economy is the best story never told?”

[sarcasm off]

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Dirt For Thanksgiving

This is just wonderful.

I’m over here, saddled with about 90 long positions, and some of you heroin addicts want me to “keep the faith” or “man-up, get bullish.”

Fuck you, I’m losing my sense of direction with this market. I feel like going to the grocery store, buying 100 turkey’s, then proceed to throw them at the NYSE.

Cocksuckers.

I’ve got high growth Chinese stocks trading under book, namely XFML.

I’ve had a half dozen stocks trade down $10, after reporting earnings.

I have big investors questioning the very foundation of this market, due to Enron, part II.

Why would the average Joe, with 100k at E-Trade, ever come back to this market?

Time after time, our CEO’s have demonstrated incompetence on a massive scale. When it’s all said and done, the “sub-prime meltdown” of 2007-2008 will be viewed as one of the biggest fuck-ups in the history of modern banking, riddled with fraudulent activites.

Wait until the regulators step in.

In short, I’m sure the market will rally off today’s lows. The sentiment is so bearish; we have to rally big, soon.

However, after the rally, there will be real economic problems to deal with, such as 1.5% GDP growth, while oil is $100.

As for today’s trading:

If I was betting on a bounce, I’d buy AAPL or RIMM here.

Is there any reason to buy anything else?

I mean, AAPL and RIMM is where the bulls have planted their flags. Providing the market rallies, both stocks will catapult higher.

TSL is getting de-balled. Chinese Solar Burrito stocks are bullshit. Stay away.

In order to get this market moving again, we need a catalyst or a wash-out.

Either we get some news of a Gov’t sponsored bail out of the sub-primers, Fed rate cut, buyout of a bank— or we go down another 1,000 points and rebuild from there.

Happy Thnksgiving [sic].

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Bulls Take Their Bone Back

No need to dance on graves. This was a faux rally, led by big oil and a handful of momentum names.

Today, AAPL and CN were big winners for me.

However, the headline of a late intra-day reversal here may lead to a follow through day tomorrow.

I bought a little FMCN down here, down almost a 10 spot.

Ridiculous.

Without a doubt, the elimination of the uptick rule has increased volatility.

In short, today was a minor victory for the bulls. There is still much work to be done.

NOTE: “The Woodshedder Bottom, part II?”

Fuck off.

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Fly Buy: FMCN

I bought 1,000 FMCN @ $48.02.

Disclaimer: If you buy FMCN because of this post, you do not value life. And, you may lose money.

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