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
21,493 Blog Posts

The Castration of the Bears Continues

Seeing [[CLNE]] down, while natty is taking a dirt nap, reminds me how cruel Mother Market is. What a fucking bitch/whore.

That stock, mind you, should be sprinting higher, on the back of T. Boone Pickens’ pitch to congress and lower natural gas prices. However, due to the capitulation in commodity related names today, anything and everything with the word “energy” in it is being clubbed like a retarded seal.

It is, without doubt, a buying opportunity.

Look, I was lucky enough to dodge the knifing action in [[RIG]], but not lucky enough to avoid other losses. Still, I endure painful “paper losses” in [[SKF]], [[SRS]] and [[FXP]]. Nonetheless, like the hard headed creature I am, I continue to buy more.

My losses from top to now are just short of 20%, putting my year to date returns around 37%.

The agony.

On the long side, I own [[WB]], [[LAZ]], [[JOE]], [[FMCN]], [[BAP]], CLNE, [[CLX]], [[MVIS]], [[HD]], [[SBUX]], [[GD]], [[LMT]], [[HANS]], [[PCZ]] and [[NOV]].

Basically, seeing the market run, I forced myself to just buy shit. I had to.

Having a heavy shot bias, I deemed being so one sided to be fucktarded. So, I hedged some of my shorts, with a variety of longs.

As for the banks, the proprietary iBC software spit out a variety of names yesterday, including [[FED]], [[UMPQ]], [[STI]] and [[MBI]]. Under normal conditions, many banks are still significantly undervalued, trading less than book value. However, I cannot get myself into the mind set of going long now, with exception to WB.

If you lost some coin during this squeeze, do not fret. Things are not always as they seem. Soon enough, “The Fly” will be pistol hot again, enabling you (internet leech) to bank a little coin, allowing you to, once again, feed your family a few tacos with sour cream.

Off to throw some surplus firecrackers at people.

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Off to Dunkin’

Once again, I am afraid to be seen in public, consuming coffee from a homo pink cup. People around my office are rich again, as the market climbs. They drive yellow Ferrari’s and never visit Dunkin’ Donuts.

Let it be known, they go to Starbucks.

My conundrum: [[SBUX]] coffee blows moose balls. I’d rather drink a cup of motor oil, than that shit they shovel at “The ‘Bux.”

However, I do not want to be viewed as “poor” or “blue collar,” via being seen at Dunkin’.

So, I will stealthy sneak into my local Dunkin’, wearing a fake mustache and dark sun glasses. Should anyone recognize me, I will “accidentally” spill hot coffee all over their fucking face.

Wish me luck.

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Expect More Green

The last great hope in retail, [[COST]], reports terrible news, yet the market shrugs it off. The banks, led by the dastardly idiots at [[FED]], shoot higher, despite their recent 50% gains.

If you are looking to allocate capital, try to find stocks with high % of shares sold short. Personally, I like [[FMCN]] and [[HANS]] here. Call me crazy, see if I care.

Naturally, I am very tempted to go ‘all in’ on [[SKF]], down at these levels. However, this melt up has a different feel to it. It’s utterly fucktarded, with a twist of lollygagging.

I have no interest in the machinations of Congress or what some asshole at the Fed is doing. All of that shit is for the birds. I spend my time trying to bank coin, while concocting new ways to punch off the mustaches of old men with canes.

I have given up on oil, as you know. I will reduce my exposure to the sector, and look to buy more [[CLNE]].

On a side note, the Godly folks at iBankCoin have been working diligently on trading software, which uses all of the parameters I look for, when screening for stocks. Basically, this shit will cut down my research time from 10 hours to 10 minutes—leaving more time to throw raw chicken legs at my trader/servant or punch holes through the bullshit sheet rock in my office.

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SKF Long

[youtube:http://www.youtube.com/watch?v=mA8xAaJ0LZs 450 300]

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The Mother of all Short Squeezes

We are living in historic times. I’ve been in the market for a long time. I can tell you, without pause, I have never seen a short squeeze like the one taking place in the banks right now.

Banks that were teetering on bankruptcy last week are now ripping higher, to mind numbing levels.

Listen to me, very closely: do not chase the banks here.

I was very tempted to go long [[STI]] and [[UMPQ]] for a trade too; but it’s too risky. Don’t kick yourself for missing an opportunity, others will come.

The first error was missing the rally. The fast track to the poorhouse is when you exacerbate the first error by chasing stocks, near the end of their run, effectively missing the bottom and marking the top.

Be patient and wait for your trade.

In other news, I am happy to be done with [[RIG]] and all of my fucking bank shorts. What a nightmare.

At the present, I have a clean head and will be allocating capital soon.

Despite the new bull market we are in, I still think the next best trade is to sell short. The exuberance is high and the supply of cocaine to money managers is prolific.

They look like shit, but, stepping into [[SRS]], [[FXP]] and [[SKF]] represent fairly low risk/high reward trades now, in my opinion. In addition, with commodity weakness, there is upside to both [[VSE]] and [[CLNE]].

In short, the big money in the banks has been made. Don’t be a fucking jackass and buy here, only to regret it two days from now. Look elsewhere for buying opportunities.

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Traffic Magic

I know other bloggers have discussed the important matter of “traffic magic.”

Let me explain. When people from the internet (you) scurry around, panicked, over the markets, the Godly folks at iBC enjoy “big dicked” traffic. Well, my traffic has increased for 2 straight years, but that’s neither here nor there.

If you look at the recent spike in traffic, demonstrated in the pic below, that was the bottom. As a matter of fact, every time the market “bottomed,” our traffic spiked to new daily highs.

I conclude, as always: when the fear factor is at its peak, morons who surf the web come check out my site in droves. This, more than anything else, is the #1 factor in determining market bottoms, apparently so.

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Shall We Chase Banks?

Okay, the pain and agony of loosing [sic] absurd amounts of coin in [[VLY]], [[WABC]] and [[HDB]] shorts is wearing off. I will be doing research for the next 20 hours straight, with little need or desire for food or sleep. In other words, while you jackoff crying a river in your bullshit jacuzzi, “The Fly” will be readying his counterattack, in order to “resack” lost coin.

Aside from [[CLNE]], I ponder whether to pressure bank shorts into the same fate I found myself today: poor house, or go eat another hot dog.

There are a number of synergies that need to be exposed, in order to evaluate what banks can be bought, or chased here. For example, there are a number of banks with low price to book ratios, compared to their peers, that will be flagged and bought by asshole dip buyers.

Layering on top of that data, and taken into consideration, are fpe ratios and percentage of shares sold short.

Keep in mind, the following names are potential trades, not suitable for long term investment. I still fucking hate the banks.

Here is my short list of potential long trades:

[[UMPQ]], [[WBS]], [[PHH]], [[SNV]], [[ZION]], [[EWBC]], [[HAFC]], [[CMA]], [[WB]], [[STI]], [[SOV]]and [[MI]].

As of now, if a gun were put to my head and a pointed piece of metal was put in the chamber, I’d say: “go long STI, with impunity, based upon egregious valuation.”

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