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
20,178 Blog Posts

Fly Sell: DECK

I sold short 1,000 [[DECK]] @ $121.

Disclaimer: If you sell short DECK because of this post, Shorticus will buy every house on your block, bulldoze them, then build a temple in his honor. And, you may lose money.

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Last Call For DECK

Take a look at [[UA]] today. How about [[ZUMZ]] or [[CROX]] or [[HAR]] or [[VLCM]] or [[RL]] or [[TBL]]?

You get it, you fucking faggots?

Specialty retailers are dead, buried and being visited by their family members, once per month.

In my eyes, [[DECK]] is a screaming sell, waiting to give Wall St. fucked up news of a weak consumer, aka chicks with credit cards.

My guess, this stock breaks below $100, within a week.

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Don’t Buy!

With our biggest mortgage insurers, [[ABK]], [[MBI]], [[MTG]], [[RDN]], on the brink of insolvency, don’t be a hero—trying to catch a bottom.

Unfortunately, the doomsday scenario of financial crisis may come to fruition, if indeed the credit agencies start doing their fucking job—by downgrading.

If you think the Fed will save you, think again. Traditionally, the market goes down, while the Fed is easing. Anyone who says differently has no fucking idea what he is talking about.

As the market hits the lows of the day, down 1.2%, we are still overvalued, compared to past declines at the onset of recession.

Remember, in 2000 the market fell by 20%, during the months of Jan-March. Thus far, we are down about 7.2%. I would not even think about buying until we are down to the tune of 13%.

NOTE: The breakdown in ag stocks is very disconcerting. However, if you are in the mood to actually make money, consider going long [[SMN]], which is heavily overweight short [[MON]].

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Position Updates: DUG

Will one of you fuckers get to the PG and post a chart of the obvious breakdown of [[XOM]]?

You lazy fuckers.

See, I already knew it was coming, while many of you believe oil can do no wrong. Tell that to the shareholders of [[VLO]] or [[TSO]].

Anyway, my point is: XOM is the biggest component in [[DUG]]—double inverse oil stocks.

A clean breakdown in XOM means more well deserved profits for “The Fly.”

UPDATE: My boy Ragin’ just threw up a chart. Thanks for nothing you lazy Woodfucker.

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Fly Buy: SMN

I bought 2,000 [[SMN]] @ $49.

Disclaimer: If you buy SMN because of this post, the price of gold will got to 10,000, rendering your paper currency worthless. And, you may lose money.

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Fly Buy: DUG

I bought 20,000 shares of [[DUG]] @ $43.25.

Disclaimer: If you buy DUG because of this post, you will not be included in the upcoming Gov’t stimulus package. And, you may lose money.

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Guess Where MER is Going?

Merrily Lunch is going to its brand fucking new book value of 29 smackers. What did they lose, like 15 billion or some shit? I think they marked down some of their notes to 34 cents on the dollar. What a joke. The only thing mildly entertaining about the [[MER]] call was all the fucking “F-bombs” dropped in it.

Aside from that, [[ABK]] is going to have its credit rating slashed. Well, gee-golly-wiz, about fucking time. Look for [[MBI]] and [[RDN]] to get cut too.

What does this mean?

Well, for starters, they will all go bankrupt, barring a bail out. Then, all of the fuckers who own mortgage backed notes, will have to write them down some more, following fresh rating cuts—post fucked MBI and ABK.

Essentially, it’s one heck of a domino effect that will decapitate the heads of strong headed bulls. Should you choose to ignore these issues, well then, good luck losing your capital.

With my money, I am going to load the fuck up on [[SKF]] and [[SMN]], ahead of tonight’s flurry of banking earnings reports.

Also, should [[FXP]] dip to the low 80’s, I’ll be a big buyer.

UPDATE: More vintage Cramer.

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