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
21,146 Blog Posts

Fly Buys: FTK, BIOF, FNSR, VSE, AUY

I bought 3,000 [[FTK]] @ $18.90 and 5,000 [[BIOF]] @ $3.83, 5,000 [[FNSR]] @ $1.68, 5,000 [[VSE]] @ $7.33 and 2,000 [[AUY]] @ $15.72.

UPDATE: I bought another 10,000 BIOF @ $3.94. And, I bought another 2,000 FTK @ $19.15.

Disclaimer: If you buy the above stocks because of this post, you will suffer from a grave case of erectile dysfunction. And, you may lose money.

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Time to Rotate

Keep a close eye on the price of corn. Should corn drop, while the price of ethanol remains high, ethanol stocks will fucking rip the heads off the shorts sellers.

Already, there is nice action in [[PEIX]], [[BIOF]], [[AVR]], [[XNL]], [[GPRE]], [[MGPI]] and [[VRNM]]. Unbeknownst to me, [[VSE]] is lagging the group today. On any dip, I will be buying more.

As you know, the general market tone is bearish. Frankly, it’s time to take some money off the table and get short.

In my estimation, [[FXP]] and [[SRS]] represent the best “value,” playing the downside.

With oil expensive, I love [[FTK]] here. From what I understand, the company should be giving quarterly guidance sometime this week or next. I know a few drilling companies that operate in their geographic region; they are net buyers of the stock. If they could get their fucking act together, the stock can print as high as $50.

Finally, it’s worth declaring, gold will be printing all time highs soon. Write it down. Within the space, I like [[DGP]] and [[AUY]].

Playing the downside, I default to the “Reverse Four Horsemen”: [[FHN]], [[DSL]], [[FED]] and [[CORS]]. And, for good measure, I hate [[LEH]] and [[MER]] too.

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THE SEEDS AND STEMS TOP

My suspicions of a top, due to the crappiest stocks in the world rallying, came to fruition—as men with money took their coin and went on vacation.

It really was a grand day for “The Fly.” Everything worked. My blend of shit and shorts put me up 3%+ for the day.

On days like this, you must pay attention and protect recent gains.

I’ll have you know, the brokerage industry is in flux, scrambling for producing brokers, while cutting back on overhead. A very close friend of mine owns one of the largest black car livery services in NYC. He is telling me, “business has not been this bad since the early 90’s,” due to major cut backs at Goldman, Merrill and Morgan.

In short, protect your gains and get ready to take the elevator down.

NOTE: Should commodities bust here, I like [[POT]] short and [[VSE]] long.

Top pick: VSE

UPDATE: Corn is cracking here. Do you know how to play it?

I do.

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Fly Buy: SRS

I bought 1,000 [[SRS]] @ $80.

Disclaimer: If you buy SRS because of this post, carpenter ants will eat your bullshit patio. And, you may lose money.

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Beware of the Rally Made from Shit

All sorts of alarms, flashing lights and warning signals are going off in “The Fly’s” office.

Just know, when the shit hits the fan (pardon my excessive use of the word “shit”), “The Fly” will not be able to help you. You must have a game plan ready for the pending reversal.

Oh, it’s going to be awful. It will look like the end of days, part II—with all of its trimmings.

This rally is being fueled by speculative fervor. All of the low-end stocks are melting up, but the big ones are down. This tells me, we are close to a correction.

Make sure to be hedged.

Currently, I am short [[POT]], [[MER]], [[LEH]], [[FED]], [[DSL]], [[FHN]], [[CORS]], with downside exposure via [[SKF]], [[SRS]] and [[FXP]].

My bias is slightly to the upside, but will switch rapidly—as needed.

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