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
21,270 Blog Posts

Banks Are Absurd

By the time this whole credit debacle is finished, many small to mid sized banks will be “zeroed out,” or close to it. You know I believe [[FED]], [[WM]] and [[DSL]] will be worthless, inside of 12 months.

I’m adding [[FHN]] to my death spiral list. And, don’t forget about [[CORS]]. I really don’t see how they can make it.

Do your own research.

As you can see, the stock Gods are blessing “The Fly” with bountiful gains in [[NOV]], [[SKF]], short [[LEH]] and short [[POT]].

Getting back to the financials, just so you know, I own two: [[BAP]] and [[AIZ]]. Sometime soon, I will explain my asset allocation methods and how to avoid getting your legs blown off, holding stocks like [[HANS]] or [[SNCR]].

Hopefully you fucktards understand that a certain level of discipline is needed, in order to stay in the game—long term. Sometimes, I get the sense most of you are just going “all in,” one idea after the next.

With my money, I will sell off my trading [[FFIV]] and [[NTAP]] positions and short more [[LEH]].

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Late Night Fact

Doing some light carpentry, “The Fly” spilled half a can of wood stain all over his new clothes—effectively ruining the charming “warrior like” outfit and staining his fucking skin too.

UPDATE: Dark forces are working against “The Fly.” Some strange third tier blog is attempting to surpass his highness, in some odd internet poll, regarding blog supremacy.

You must vote for “The Fly” at once and save America from Canadian infidels.

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A Glorious Day

I offer no advice, merely rants of my market “Godliness.”

Just know this, I share very little with the internet kind. Most of my trading is done in the darkest corners on Wall Street and the size of my transactions are often minimized, for secrecy purposes.

I will tell you this, listen very carefully:

“The Fly” is back in the most egregious way possible, via absurd gains. Today represents the single best trading day of the year, for Senor Tropicana aka “The Fly.”

During the session, I sold out of my longs and reversed to heavily short, with exact precision. So sorry.

Today’s gains stand at a staggering, but not surprising, 8%+.

Read it and weep, “clown fucker.”

Off to eat a piece of rare beef.

UPDATE: I am listening to the [[HANS]] conference call. Let me just say, it is, by far, the worst call in company history.

Stay away.

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Late Night Thought

Fuck [[LEH]].

Carry on.

UPDATE: I realize it is not nighttime. I was going to correct it; however, for some odd reason, I find the error rather amusing.

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Fly Buy: SKF

I bought 10,000 shares of [[SKF]] @ $95.85.

Disclaimer: If you buy SKF because of this post, the Government will resume its spree of bank stock purchases. And, you may lose money.

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Chicoms Shitting the Shower

Is this a key tell or more Chinese fuckery?

Go down the list of stupid Chinese stocks, from [[LFC]] to [[CHL]] to [[CTRP]] to [[PTR]] to [[ZNH]], they’re all receiving the “Stalin Shiv” to the neck treatment.

Keep in mind, previous market tops started with the collapse of the chicoms.

At any rate, just to be cautious, I am paring down many long positions here, while adding to [[FXP]].

I could be wrong. But, either way, it doesn’t hurt to book some gains and wait to see if this dip is buyable or a fucking suitcase nuke in your oven.

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