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
20,002 Blog Posts

“The Fly” is Punching Higher

I had a great day, thanks in large part to the return of my “calculator brain,” and high IQ—up 1.6%. I had monster gains in [[VMI]]. [[ORCL]], [[LNN]]. [[MVIS]] and [[RIMM]]. My short positions barely moved—effectively allowing me to enjoy the long side without interruption.

By the way, I’m not impressed with today’s move in MVIS. Some friends of “The Fly” were ripping out offers today, buying more than 80,000 shares. Without “Fly & Friends,” MVIS would have been down or flat.

You MVIS holders are beholden to me. Show some fucking respect.

Today is about RIMM and who will get killed by it. My best bet: it trades higher. Anything that can hurt RIMM will most likely occur in the 2nd half of 2008, not now. I’d be shocked to see them miss here.

In closing, it looks like the Santa Claus rally is getting started. Enjoy it, for it will abruptly end sometime soon.

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Fly Buy: AGU

I bought 2,500 AGU @ $62.30.

Disclaimer: If you buy [[AGU]] because of this post, your roof will fall on top of your presents. And, you may lose money.

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RIMM=Garbagio

The Naz looks poised to advance by 2% today, giving the bulls an early Christmas present, by the way.

As you know, [[RIMM]] will be posting quarterly numbers tonight. As you know, I am long the bitch from $18-101. It is one of my biggest positions and take pride in the fact that I’ve held it for the duration of its recent run.

However, I’m somewhat concerned by the recent price action, grossly underperforming other tech bellweathers, like [[AAPL]].

In short, the business is firing on all cylinders. The enterprise business is smoking hot, but may cool if the job market softens. They are poised to enter China, sometime in 2008, but face new competition from AAPL.

With my position, I am doing nada-thing. Should the numbers and guidance go gangster, the stock will be back to $130, in no time. On a bad number, RIMM goes to $85.

In other words, trading RIMM here is “garbagio,” a fancy type of garbage or bullshit.

Stay away, both long and shorts, if you like money.

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Position Updates: SKF, FXP

Many of you buy double inverse ETF’s, without knowing the components. Again, work smart you fucking faggots (no offense to gay guys), not hard.

Here are the top 10 holdings for both [[FXP]] and [[SKF]], with leverage adjusted weightings:

FXP

[[CHL]]–22%

[[LFC]]–18.5%

[[PTR]]–17.3%

[[ICBAF]]– 12.2%

[[CICHF]]–11.5%

[[PIAIF]]–11.1%

[[CUAEF]]–9.5%

[[CEO]]–8.7%

[[CHA]]–8%

[[CIHKF]]–7.7%

SKF

[[C]]–15%

[[BAC]]–14.6%

[[JPM]]–10%

[[AIG]]–9.8%

[[WFC]]–7.4%

[[WB]]–6.5%

[[GS]]–5.2%

[[AXP]]–4.1%

[[MS]]–3.9%

[[FNM]]–3.8%

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Milk the Farmer; RPG the Scottrade Helicopter

Don’t expect “The Fly” to work hard, especially at the end of the year. I always say: “I don’t work hard. I work smart.” As you know, working hard is for “illegal Mexicans” or mid-level executives.

[[BSC]] posted a bomb, while [[LNN]] scored a goal, then hit the bears with a puck to the teeth for good measure.

With LNN through the roof, on its way to a hundo, go long [[VMI]].

NOTE: The following ag stocks are on fire: [[LNN]], [[CNH]], [[CF]], [[TNH]], [[VMI]], [[TITN]], [[AGU]], [[MOS]], [[POT]], [[ADM]], [[MOO]] and [[AGU]] [[BWLD]] is eating bullets, thanks to the toolboxes at [[JPM]], initiating coverage with a homo-hammer.

Sometime soon, I will be posting a summary of my trading year: what went right/wrong. Being up 15%+ is a major disappointment for me, considering I was up more than 45% in May. There are specific reasons as to why research got sloppy and “The Fly” got lit up, on certain names.

More on that later.

For now, I’m trying to refocus my efforts on establishing an investment theme for 2008. However, since I’m bearish, it is difficult.

If I was putting together a portfolio today, using fresh money (as opposed to old money), I’d buy [[VMI]], [[RIG]], [[CLX]], [[MVIS]] (for a trade), [[FXP]] and [[SKF]].

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Fly Goes to Wal-mart

Believe it or not, tonight was my first, and last, time visiting the shitbox called Wal-Mart.

The reviews are in:

Mrs. Fly: “This place is just awful, awful…I felt like suffocating. I just wanted to get out of there.”

“TheFly”: Wow, Cramer was right. This place does suck. It has the look and feel of Government. A ghetto it is, I tell you.”

Fly kids: “Ooh, ooh, can I get that Daddy?”

NOTE: It’s official. The iBankCoin dictionary, volume 1, has been published. Any suggestions will be greatly ignored, as always.

Thank you.

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Fly & Bears

First of all, go fuck yourselves, dumb bearshitters. Just because “The Fly” doesn’t incessantly espouse armageddon jargon, doesn’t mean it won’t happen.

Relax you stupid fucks; we’re currently aligned (Fly & Bears) and happily going lower.

With regards to [[MVIS]]:

Anyone talking shit about my staying power in the name should go fuck himself too. I don’t need to “hang on” to bullshit small cappers. I’ll be more than happy to blow this puppy out, sometime soon.

After the close, [[ORCL]] posted a blowout number. Good, I own it.

Finally, if a shotgun were put to my head, in order to extract one stock pick, I’d say: “shoot me Sir if you must, but before you do, go long [[EEV]].”

NOTE: I am not feeling all that confident on [[RIMM]] right now. The way the stock is trading, I’d avoid adding to the name, until after earnings.

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Santa Claus Fires a Missile

This rally looks sustainable, at least for today.

However, I’m not content with selling into it, for fear of missing out on a late year run—despite my bearish disposition.

All I’m really focused on is the doings over at [[MVIS]]. Looking back on 2007, my biggest error was holding onto my position, as the stock slowly boiled me. The key tell for the stock, as always, is when the CFO sold stock—in the $4.70’s. Ever since then, the confidence most investors had in management vanished, like the bonuses at [[MS]].

Basically, I made the grave error of being a true believer, emotionally attached to the stock (always a bad idea).

However, with that being said, there is still a chance the company regain the confidence of its investors, via CES.

What I want to see is a device that is market ready. If the company can do that, I will shut the fuck up and become a quiet shareholder. If not, I’m out.

If I were looking to put money to work now, I’d go long [[VMI]], [[CN]] and [[LFT]].

I do not expect to make much coin in my bear positions this week. The purpose of holding them is for hedging reasons, not greed.

[youtube:http://www.youtube.com/watch?v=EOW-TIUrl3k&feature=related 450 300]

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