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
23,376 Blog Posts

Fly Buys: ARA, CRNT, MMR

I bought 5,000 Aracruz Celulose SA (ADR) [[ARA]] @ $22.95, 10,000 McMoRan Exploration Co. [[MMR]] @ $8 and 3,000 Ceragon Networks Ltd. [[CRNT]] @ $9.

Disclaimer: If you buy the above names because of this post, your face will be punched off, upon entering your favorite eatery. And, you may lose money.

Comments »

People Will Work Again

Quit bellyaching about jobs. For those of you who are unemployed, send your resumes into iBankCoin, for I am looking for qualified people to shine my shoes.

You see, folks, I bought [[MWW]] , before the C student analysts upgraded the name, in anticipation of an improving employment market. It’s only a matter of time, via hook or crook, people of America will work again. Granted, their jobs will suck moose balls; but it’s work, nonetheless.

In a normalized jobs market (5-6%), [[MWW]] is worth north of $40. Write it down somewhere, put it in your sock drawer, and go eat a bowl of Chinese noodles.

Yet again, the market is melting up—no surprise there. What is surprising is the price action in Flotek Industries, Inc. [[FTK]] . I mean, what in God’s good name are the short sellers thinking? With more than 20% of the shares sold short, and commodities running, Flotek Industries, Inc. [[FTK]] is poised, mind you, to break the fuck out, “murking” scores of bears along the way.

As an aside, AT&T Inc. [[T]] is kicking ass on the smartphone front, now signing up Dell Inc. [[DELL]] . Verizon Communications Inc. [[VZ]] is an ass.

To play this, you want to own the names who benefit from the At&t build out, such as Ceragon Networks Ltd. [[CRNT]] , Starent Networks Corp. [[STAR]] , Alcatel-Lucent (ADR) [[ALU]] , TEKELEC [[TKLC]], ADTRAN, Inc. [[ADTN]] and [[ERIC]] .

Separately, General Cable Corporation [[BGC]] is doing all sorts of good shit and will likely blow the barnyard doors off estimates.

Comments »

Onward

Drunken midgets shot from cannons, while a grotesquely obese audience prays for a head to wall decapitation.

Gregarious, yet nefarious, executives sell wooden scraps, disguised as metal to unsuspecting smelters, in accordance with grinning accountants.

And finally, ham and egg investors peruse the internet for inarticulate drivel, providing it is filled with acrimonious sentiments, hosted by wildly callow men.

Comments »

To Be Continued

Instead of buying stocks today, I ventured off on an inane shopping spree, buying irrelevant shit—only because I can.

As expected, the market lifted off into the bell. First thing tomorrow, providing we see some strength, I will continue buying into my Foreign Thesis and pick at a few underperforming commodity names, like McMoRan Exploration Co. [[MMR]] or more Flotek Industries, Inc. [[FTK]] .

In closing, the powers that be, want inflation; therefore, we shall have it.

Trade accordingly.

[youtube:http://www.youtube.com/watch?v=T_jGlyqoYoo&feature=related 616 500]

Comments »

Playing With Fire

I don’t feel like buying or selling. I’m just sort of gawking at the boring action this market is giving me. There is very little conviction, on either side, which leads me to believe: this fucker wants to go higher.

Today’s wet towel comes in the form of an anomaly, via a strong dollar. However, it’s only a matter of time before the dollar fucks itself again, effectively sending stocks back up. I must admit, the whole weak-dead dollar situation does not bode well for quality of life concerns, here in the states. But, at least for now, it is incredibly bullish for equities.

Looking out a few years, I believe this country is in for very hard times. The deficit spending is beyond ridiculous; and as a whole, America is a compilation of undisciplined pork chop eating slobs, no offense to the fine gentleman of the south.

However, my job is not to invest money for three years down the road, but now. People want to make money and they want to make it now! I invest for the present, but always mindful of what may occur in the near future. What may look great today can be soiled with vomit tomorrow.

In summary, do not misconstrue my bullishness as misguided hallucinations of utopia. I know this country is in a race against time. I realize that America’s best days are behind her and we are all doomed for the “luxuries” of Chinese prison factories. Nonetheless, while on our trip to Hades, I’m simply picking berries off the lonely trees—enjoying the ride.

Comments »

Beware of False Profits

Many of you are young punks, just learning this stock game. You rely on charts because it is the easiest way to become an authority on stocks. On the internet, unfortunately, there are many false profits, like Tim Knight, who claim to be “experts” on technical analysis. Look, Tim Knight is a technician like Hank Paulson has a handsome head of hair.

Fuckers like that are ideologues, who view charts via a distorted scope, because of bias. Real technicians, like my boy John Lee, don’t have a bias or an agenda to put forth. Don’t listen to men who prance around the internet, like ballerinas in the winter winds, geeked out on viagra, jonesing for the apocalypse. Men like that are supposed to be ridiculed, not respected.

In my business, fuckers like that are not respected. They are cast out and never invited to the cool parties.

Back to business:

After the recent run, expect a minor pullback. However, do not expect anything major. The Federal Reserve put the wolves out on the short sellers, via “loose goose” monetary policy. All dips will be bought and there will not be a price to pay for all of the mistakes made, at least in 2009. Ask me about 2010 and I will offer a whole new set of investment options.

In short, quit listening to children. The market is alive, full of energy. Feed off it and make your mark.

On dips, I like General Cable Corporation [[BGC]] , TriQuint Semiconductor [[TQNT]] and IAC/InterActiveCorp [[IACI]]

Comments »

Commodity Losers of 2009

Courtesy of The PPT, here is a list of stocks that have vastly underperformed the market in 2009, all basic material stocks, with % of shares sold short over 10% and ytd returns of less than 10%. Naturally, it comes as no surprise, Flotek Industries, Inc. [[FTK]] is in the mix (fuckers).

Potential Late Bloomers (% of shares sold short, ytd return)

1 EXH BASIC MATERIALS 11.40 9.48
2 RES BASIC MATERIALS 14.30 9.21
3 GGC BASIC MATERIALS 14.30 7.63
4 USU BASIC MATERIALS 15.30 6.08
5 GSI BASIC MATERIALS 11.50 0.51
6 SWSI BASIC MATERIALS 10.30 -2.30
7 CENX BASIC MATERIALS 16.20 -7.20
8 GDP BASIC MATERIALS 24.50 -9.52
9 WTI BASIC MATERIALS 20.50 -14.27
10 FTK BASIC MATERIALS 19.80 -19.05
11 WNR BASIC MATERIALS 22.50 -19.97
12 ALY BASIC MATERIALS 12.60 -20.36
13 MMR BASIC MATERIALS 17.90 -23.27
14 SUN BASIC MATERIALS 10.80 -33.65
15 GMXR BASIC MATERIALS 21.80 -39.97

Comments »

You’re Cordially Invited

Thanks to “bigger than God” stock market gains, the holy folks at iBankCoin will be holding their first ever party, also known as “CAMP PARADE” or “CHAMPAGNE PARTY” or “SAUSAGE SOIREE,” depending on where you are geographically.

The event will be held at a secret location. You tell us where to find you and we will arrange for your transportation. Upon entering the party, you will be given a pipe and a blazer, most likely from the venerable TED BAKER himself, providing he is still alive. Imagine the scene, 50 sausages chatting it up, laughing over champagne and a fine pipe. Oh, the anticipation, it’s almost too much to fathom.

While it’s true, I hate most of you and would rather see you in prison than at a party; it’s also true, iBankCoin has a reputation to uphold—all thanks and praise to the Bush administration for the plethora of “no-bid contracts” sent our way during the Gulf War.

At any rate, the market is closed and I won again. It should not surprise you, now or ever, that “The Fly” is always a step ahead, conducting himself in the most fashionable manner, with pride, dignity and honor.

Good Day,

Hope to see you all soon.

Le Fly

[youtube:http://www.youtube.com/watch?v=6b7W4Xwmicw 616 500]

Comments »

Claim Victory

My time frame is longer than yours, mainly because I am not addled with severe dementia and ADD. With the 20% cash in my coffers, I have begun acquiring foreign stocks, by way of magical internet transmission.

Be that as it may, you should know, I don’t care about tomorrow’s stock prices. All I know, and this is a certainty (in my head), the Dow is going to 10,500, taking your bearish ass along for the DEATH RIDE.

A great man once said, “fuck all of those other beers; I’m drinking St. Ides.” Similarly, I don’t care about your moving averages, since I, KING COCK, dance to my own calypso music box.

In an effort to not get totally offtrack and incoherent, I insist that you listen to me now and watch me later.

Take profits. I don’t feel like selling; but my situation is different.

Over here, I have lots of money, just sort of sprawled out on my desk, underneath new diamonds and shit. Over there, you are poor, eating hotdogs and fries for dinner, while washing your socks in the bathroom sink.

Look, don’t be afraid to NOT be like “The Fly.” It’s okay—promise.

At the end of the day, I will not be here forever, teaching your retarded ass how to make a living in this God forsaken market. As sure as I’m sitting here, one day, I will vanish into the summer winds, with only remnants of “The Fly” left as a reminder, in the form of a giant “FUCK YOU SHORTS, YOU’RE DEAD” sign on the front page of iBankCoin.

Comments »

Fly Buys: ARA, VIP, PKX, HXM, CBD, TEVA

All related to my Foreign Thesis game plan.

I bought 2,000 Aracruz Celulose SA (ADR) [[ARA]] , north of $22.75, 3,000 Vimpel-Communications (ADR) [[VIP]] , north of $19.75, 1,000 POSCO (ADR) [[PKX]] @ $103.30, 2,000 [[CBD]] , north of $59.50, 2,000 Homex Development Corp. (ADR) [[HXM]] , north of $37.80 and 1,000 Teva Pharmaceutical Industries Ltd (ADR) [[TEVA]] @ $50.95.

Disclaimer
: If you buy the above stocks because of this post, your only IT guy will sleep all day and drink all night. And, you may lose money.

Comments »