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
21,492 Blog Posts

Bull vs. Bears

[youtube:http://ru.youtube.com/watch?v=rWIR_rOvcZs&feature=related 450 300]

Comments »

My Condolences Go Out to You Bank Lovers

Come on now. You didn’t think “The Fly” was going to be wrong forever, did you? Long term readers of this site should know: “The Fly” wins all the time, even when he appears to be digging his own grave.

All of a sudden, my appetite to curse grows, as the Dow power dives lower, spearheaded by the morons in velvet suits (bank CEO’s wear velvet suits).

Let’s see what I have going on:

short Lehman Brothers Holdings Inc. [[LEH]] , short TCF Financial Corporation [[TCB]] , short Morgan Stanley [[MS]] , short Goldman Sachs Group, Inc. [[GS]] , short [[FED]] , short Pacific Capital Bancorp [[PCBC]] , short Cathay General Bancorp [[CATY]] , short Vulcan Materials Company [[VMC]], short Bank of America Corporation [[BAC]] and long [[SKF]] , [[SRS]] and [[FXP]] .

See pal, that’s who I am and you’re nothing.

Go ahead and keep playing with your straight edge. Be sure to keep your head deep in the sand. In the meantime, I’ll continue to bomb your flabby torso from 10,000 feet above, traveling at supersonic speeds.

In other news, some of my longs are following the convoy of hell lower, namely Wachovia Corporation [[WB]] and Chipotle Mexican Grill, Inc. [[CMG]] . With CMG, my stop is one point lower. With regards to WB: I will sell it at $30 or $10.

In closing, I would like to thank all of the bullish bulls out there, for providing me with the jet fuel to bomb you, via crushing your erroneous long positions.

Remember boys and girls, we’re in a bear market—not a bull.

Comments »


I’m not impressed. This is just more of the same chicanery.

One day we’re up 200, the next we’re down. Wake me up when this dog licks 11,000.

Sure the banks did a synchronized dive into an empty pool. Still, I am not enthralled.

In short, I made loads of coin today. Even my longs went up, with exception to KB Home [[KBH]] and Chipotle Mexican Grill, Inc. [[CMG]] .

Nonetheless, I am not convinced of the bears’ conviction yet.

With my money, for the day, I bought more [[SKF]] , [[SRS]] , shorted Bank of America Corporation [[BAC]] , shorted [[FED]] , shorted Pacific Capital Bancorp [[PCBC]] , shorted Cathay General Bancorp [[CATY]] and a little Goldman Sachs Group, Inc. [[GS]] for the hell of it.

Nothing major. Just a bunch of floaters to make me feel better about myself.

Comments »

Let’s Go To War

With the elections around the corner and John (Rambo) McCain as a candidate, it’s a good idea to be long military stocks, especially with Russia getting all besides themselves with their low-end tanks in the Caucuses.

In short, once upon a time, “The Fly” was thoroughly versed in the industrial-military complex. I have vast experience in buying/selling the names, dating back to the Civil War (“The Fly” was a stock broker in all of his previous lives).

I like the unmanned aircraft producers, which include ARGON ST, Inc. [[STST]] and AeroVironment, Inc. [[AVAV]] . Some of the big dogs produce unmanned aircrafts too, but it represents a small portion of overall revenue.

In addition, I like all of the big players, which include: General Dynamics Corporation [[GD]] , Lockheed Martin Corporation [[LMT]] , Alliant Techsystems Inc. [[ATK]] , L-3 Communications Holdings, Inc. [[LLL]] and Northrop Grumman Corporation [[NOC]] .

Some niche/marginal players include:

FLIR Systems, Inc. [[FLIR]] , Force Protection, Inc. [[FRPT]] , Ka0man Corporation [[KAMN]] , TransDigm Group Incorporated [[TDG]] , American Science & Engineering, Inc. American Science & Engineering, Inc. American Science & Engineering, Inc. [[ASEI]] , Esterline Technologies Corporation [[ESL]] , Ceradyne, Inc. [[CRDN]] , HEICO Corporation [[HEI]] and Textron Inc. [[TXT]] , who is also a producer unmanned aircrafts.

Comments »

Time to Get Fancy

“The Fly” will no longer tolerate rubes visiting his Godly site. As you already know, a strict dress code (suit and tie, regardless of gender) is mandatory when visiting this site. Now, in accordance with the basic laws of decency, I demand that you wear white gloves, while commenting on one of my posts.

However, should you ever get the notion or the inclination to post crap on Wood’s, Alpha’s, RC’s, Gio’s, Adam’s or Danny’s blog, feel free to rub bbq sauce on your keyboard before doing so.

As you can see by today’s tape, the stock Gods insist on “The Fly” blogging the internet into submission, via the gift of lower bank stocks. As a point in fact, viz, my average cost in [[SKF]] is a touch under $120, effectively putting me in striking distance to nuclear bomb most of you “blog God” haters.

In all my years managing money, I’ve never been more convinced of the future direction of an individual equity price, more than Vulcan Materials Company [[VMC]] . I protest the current quoted price of VMC, vehemently, with all my might and muster. As a matter of fact, I protest the closing price of this most egregiously run company, dating back 30 days.

If you’re wondering what runs this market, I will tell you. It’s not desire for money or overabundance of greed. It’s cowardice.

Cowards are all around us, infecting the political, social and banking bodies. Everyone is just so scared to lose money or power. They are so scared; they make decisions fit for a mouse.

Do not be a coward, sell short your favorite bank stocks and go punch a goat in the nose.

More on this later.

NOTE: The beginning of the end for ‘global growth stories’ as begun, as evidenced by McDermott International [[MDR]] , Fluor Corporation (NEW) [[FLR]] and Foster Wheeler Ltd. [[FWLT]] . Look for Jacobs Engineering Group Inc. [[JEC]] , ABB Ltd (ADR) [[ABB]] and Terex Corporation [[TEX]] to eventually follow.

Comments »

I’ve Had Enough

I will leave the fate of my blogging future in the hands of upright walking pigs (bank stocks). Over the last three weeks, I’ve endured melt up after melt up, which would be perfectly fine, providing I was long. Being short the lowest order of banks once made me proud to be an American. After all, what country can provide such upright walking pigs, in such a wide variety?

It is a demonstration of true diversity.

Literally, I have 20 bank stocks on my screen worth shorting, right now. You may think the charts look cute, with their little “breakouts” above “necklines” and such. However, consider the fact that I will punch your eyebrows, mustache and hairpiece off your skull for suggesting such things, and you may start to see it my way.

The credit crisis didn’t go anywhere. Global growth is slowing, spreads are widening and we have not even seen the ramifications of bad commercial paper yet.

Be patient.

With my money, I am banking some “gorilla coin” in VeraSun Energy Corporation [[VSE]] and Hansen Natural Corporation [[HANS]] today. VSE reported stellar numbers last night.

Remember, ethanol production is still booming. The problem has been corn. With corn coming down in price, people like Jim Cramer can shut up and let the Godly folks at VSE continue to produce, with impunity.

At these levels, I like BKS, short Bank of America Corporation [[BAC]] , short Morgan Stanley [[MS]] and short Goldman Sachs Group, Inc. [[GS]].

Time Machine Update: I can tell you, with the utmost amount of accuracy and frankness, Willie Randolph will be fired by the All-Star break and (CHL: 60.30 -5.10%) will trade in the 50’s. These two “future facts” are not debatable nor can they be stopped.

Comments »

UBS Posts a Monster Miss

UBS AG (USA) [[UBS]] just posted a huge loss (358 mill chf), plus record outflows of over 17 billion for the quarter. And, the CFO got the ax too, for good measure.

If the banks go higher tomorrow, “The Fly” will never blog again.


Comments »