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
20,083 Blog Posts

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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Everybody Shutup, Pay Attention

“The Fly” just got back from meetings. While in his car, he noticed how fucktardedly annoying the guys from Bloomberg radio are, with their whining bitch-like commentary. Someone needs to step into their office and throw some testosterone on them. Or, better yet, punch their fucking chest hairs off.

What the fuck?

Don’t expect the market to do much, until early 2008. Most intelligent people, like me, are done for the year. As you know, options expire this week . Because of this, I am hoping for death and destruction to afflict banking related names.

It would be nice to see them (the banks) boarded up and shit, with graffiti spray painted over the respective logos of [[C]], [[WM]] and [[CFC]].

That would be entirely “unfun” for many of you true believers.

Looking at my long positions, [[WBD]], [[HANS]], [[CN]], [[FMCN]] and [[VMI]] are working, while [[BWLD]], [[FXP]] and [[AAPL]] take a breather.

With new money, I will buy more FXP.

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Morgan Blows

Did [[MS]] just report a loss of $3.61, or am I still dreaming?

Let me know.

Also, [[HOV]] and other housing related names look gay. In my dream, they all exploded, in a bad way, much to the chagrin of low-end construction workers.

Developing…

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Late Night Thought

You’re all inferior to “The Fly.”

UPDATE: For someone who claims to be “Pimping Stocks,” he sure does have one fuck of a piker-ass, 5-figure, brokerage account flaunted.

Sorry, no sympathy for advertisers on this blog. You should be ashamed and embarrassed (in addition to being appalled), Sir, to tell people you have just 80k in the market.

When I die, my coffin will cost more than 80k.

You’re not Pimping. You’re a ten dolla’ crack ho.

Developing…

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Sorry, Christmas Has Been Cancelled

This was not a rally, but charity. How can I put money to work, while my double inverse Financial etf [[SKF]] was down a mere .34%?

With all the good news today (ECB, Goldman earnings), the market mailed it in, up less than .5%.

With my money, I’d rather bet against the fucktards at [[MS]] and [[MER]], than go long the indices.

Now, there is a chance for a rally, providing we get some decent numbers out of MS and MER. However, it is my belief, any rally should be sold twice, especially going into the first two weeks of 2008.

Basically, my long term bullish stance has been stifled by recent Fed inaction and persistent credit issues. Just doing some quick back of the envelope analysis, without robust financial earnings, the market is wildly overvalued.

Granted, betting against the market, long term, is always a crackhead thing to do. Nonetheless, near term, I suspect to see fund managers sell out positions, early January. I want to avoid that risk, via hedging myself with inverse ETF’s.

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Get Long the Suckers Rally…

…if you’re into losing money and shit.

While it’s true, the market is severely oversold; long term, the market is rich.

Anyway, if you’re looking to play this bounce, keep an eye on internet plays, like [[OMTR]], [[NILE]], [[VCLK]] and [[EBAY]].

On a dead cat bounce, I like [[LFT]] here.

However, for the most part, you should be using this rally to lighten up and “get flat.”

Mark my words, during the first two weeks of January, the market will have its stupid head lit aflame, in a bad way of course.

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Bulls Clipped by 10:30am

Just forget about buying stocks. You’re over there, like an idiot, trying to catch a bottom again. I fucking told you: the market is a bad ghetto now. You can get shot waiting for a bounce.

On this failed rally, it makes loads of sense to buy [[FXP]], [[SKF]] and [[EEV]].

However, it’s worth noting, I am not selling any of my longs—just in case.

Seriously, you’re far too stupid and poor, to fuck around in this market.

Go play some low-stakes poker or something, instead.

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