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
23,374 Blog Posts

Still Winning

I am buying the refiners and doing it with style and in size. Before August is done, I will own positions in Western Refining, Inc. [[WNR]] , Tesoro Corporation [[TSO]] , Holly Corporation [[HOC]] , Delek US Holdings, Inc. [[DK]] , Alon USA Energy, Inc. [[ALJ]] and Frontier Oil Corporation [[FTO]] . Naturally, should a fierce, gold chain wearing, hurricane come barreling through the Gulf now, I will sell my refiner stocks for 25%+ profits. But, without a ‘Cane of Horror and Death, the refiners are due to run anyway.

Additionally, if you are short Flotek Industries, Inc. [[FTK]] , as a money manager, it is your fiduciary responsibility to cover your position. It is INSANE to be short FTK, in the 1’s, while in the midst of a hurricane season. With 25% of the shares sold short and financing shored up, I believe the stock is about to go on a “banana run” back to $2.50 minimum.

As you can see, the market does not want to trade lower. There are many FAZtarded individuals out there, who are gluttons for capital losses, via betting against this rally at every turn. However, for me, with over 60% gains year to date, there is no reason for me to try to time the top via short sales. Instead, simply, I will raise cash and wait for a better buying opportunity. Nonetheless, right now, this bitch is not done going higher.

Top picks: TSO, FTK, Hercules Offshore, Inc. [[HERO]]

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I’m Back!!

And I am ready to fuck you up. Don’t let a little market magic get in the way of you making all sorts of ridiculous mistakes. By the way, have you noticed the INSANE accuracy of my market picks?

You want advice? You want to make some coin?

Take a look at the darn refiners.

Night-night fuckfaces.

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Once In a Lifetime Opportunity is Gone

Like Hailey’s Comet, you will never see the market melt down again, the way it did in ’08, ever! For cancerous bearshitters, the market plunge validated all of the negative, unproductive feelings inside, effectively making them (bearshitters) want more (more blood). It’s sort of like giving them a little crack pipe, then taking it away. Now, all day long, they want to smoke the crack. However, the police confiscated all of the crack; therefore, they get nothing but the ominous BLACK FLAG and a stiff jab to the jaw.

It’s also like having that hot chick in high school, remember her? Fast forward 30 years, you are just some fat slob, scrubbing dishes in Buttfuckville, California. You want to meet another girl, just like your high school sweetheart; but, it’s not happening. Instead, you will continue to scrub dishes in Buttfuckville, California.

See folks, my point is: quit living in the past. Find something to do with your lives, instead of betting on calamity.

Just in case you didn’t know, “The Fly” caught the entire move down in ’07-’08, shorting banks, cre and oil. I had my 2nd best year ever in ’08; and thanks to my flexible market bias, I will have an even better performance year in ’09.

Today’s market melt up is making me rich-er. I am enjoying “SHO-Time” with my Sunstone Hotel Investors, Inc [[SHO]] position. For the love of black molds and sinister ministers, can Flotek Industries, Inc. [[FTK]] catch a bid already? What the fuck does that stock need to go to $3? Fuck me running sideways and stupid.

Top Picks: SHO, Complete Production Services, Inc. [[CPX]] , Tesoro Corporation [[TSO]]

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Pardon Your Indiscretion

I would like to address several points, all of which are of great importance to the health and vibrancy of the U.S. economy.

Steroid fuckers: quit using the machines at the gym in unorthodox ways. One of the major downers for “The Fly” is not being able to punch off the mustaches from the 300lb cretins at the gym, for using the pull-up bars like a child’s monkey bar playground. Let me be clear: I could try to punch off their eyebrows and maybe hire some ex-marine to intercept incoming “roid blows”; but why bother?

The second half of 2009 is all about peace for Senor Tropicana.

Another pet peeve of mine: men inside eyebrow waxing joints. Seriously, men who get their eyebrows plucked, and nails shined, need to just grab the homo-hammer already and stop playing “Testosterone Timmy” at the gym.

Look, I know you are all confused about the markets, especially with Asia deep in the red. However, “The Fly” is not here to offer sage advice. Fuck that shit. There are plenty of horse lovers out there who slave over their filthy computers, for your reading displeasure. While on iBankCoin, specifically my blog, you are here to entertain me. I have been buying all sorts of crap, from Tesoro Corporation [[TSO]] to Sunstone Hotel Investors, Inc [[SHO]] . I have been grilled, like an oily pork chop, in Flotek Industries, Inc. [[FTK]] and Sterling Financial Corporation [[STSA]] (very small position), yet here I am still talking shit.

Here’s the thing, the website is my true passion. I enjoy writing and building stuff, finding blog talent, inventing analytic engines— things of that nature. Managing money, while incredibly rewarding, is boring. As you know, I am not into having a boring life. And, for your information, I NEVER eat boring tuna. One day, “The Fly” will blog from his penthouse apartment, located on the top of the Empire State Building needle.

Unfortunately, I have numerous meetings to attend tomorrow morning. Hence, blogging will be light or entirely non-existent. Just so you know, should the market plunge tomorrow, I will be advantageous with my ridiculous “hurricane thesis” buys. If we go up, I will probably sit tight or take some profits on some of my garbage holdings. Truth be told, I am holding far too much garbagio at the moment.

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BEARS MUGGED IN “Fuck You, You’re Dead” TRADING

When American International Group, Inc. [[AIG]] , Fannie Mae [[FNM]] , Citigroup Inc. [[C]] and Freddie Mac [[FRE]] “desack” the bears, it’s not a game anymore. Full disclosure: I was looking for a pullback, coming into this week. The difference between you and “Le Fly”: I don’t have ADD and do not trade like a fucking paradiddle. I did not short anything, mainly because the trend, the mood, the aroma, is all bullish. Instead, I took half of what belonged to me and put it to cash.

As you know, over the past three days, I’ve been reallocating back into stocks, specifically Tesoro Corporation [[TSO]] , Sunstone Hotel Investors, Inc [[SHO]] , Hercules Offshore, Inc. [[HERO]] , Complete Production Services, Inc. [[CPX]] , General Cable Corporation [[BGC]] , ANADIGICS, Inc. [[ANAD]] , Starent Networks Corp. [[STAR]] and Holly Corporation [[HOC]] . Much to my chagrin, I got smoked on Sterling Financial Corporation [[STSA]] , so goes the life of an avid speculator.

In closing, short only hedge funds are getting poleaxed here. I will continue to use my PPT engine to find short squeezes, in a sincere effort to massacre my natural enemies.

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Fly Buy: SHO

I bought 40,000 Sunstone Hotel Investors, Inc [[SHO]] in the low $6.20’s.

Disclaimer: If you buy SHO because of this post, your vasectomy will go terribly wrong. And, you may lose money.

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Bears Raped by Insolvent Banks

The biggest turds, in all the world, are running with their socks off today. Names like American International Group, Inc. [[AIG]] , Citigroup Inc. [[C]] and Fannie Mae [[FNM]] make me sick; but some people think there is “value” trapped inside of those criminal organizations. Believe you me, I would like to see the market rally, just like a coked out Kudlow. But, those motherfuckers should be bankrupt. I mean, AIG lost about 200 billion, over the last year right? ROFL. Fuck me running sideways.

“The Fly” is really not much fun for you internet leeches these days, especially since my trading activities have slowed with the summer malaise. Don’t worry, soon enough, I will be back to throwing old men into garbage trucks, while exclaiming “touchdown” in a very mentally disturbed manner.

The good folks from CNBC are perplexed by the market, in general. They look at the tape and just sort of scratch their brains, hoping for a clue.

I suspect, over the next hour or two, I will buy a few names, in an effort to spend my cash. I have so much cash on the sidelines, I should be on CNBC talking about it.

So, in summary, trading poolside is always a good idea, especially when you have money. If you, for some odd reason, find yourself without money, then you might want to focus on your job. Words to live by and kill for!

Talk to you fuckers later.

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