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
20,692 Blog Posts

Fly Buy: FXP

I bought 2,000 shares of [[FXP]] @ $74.30.

Disclaimer: If you buy FXP because of this post, the next time you visit China, the Government will have you arrested. And, you may lose money.

Comments »

What’s Good for DD…

…sucks for [[MON]].

The only reason the DOW is higher today is due to Dupont’s great earnings report. Delving into it, I can tell you their agriculture business saved the day, currently representing more than 23% of revenues.

Moreover, they are set to unveil a new set of seeds that will hurt MON.

Currently, they license several seeds from MON, which will cease upon launch of their own product lines.

In short, MON is growing fast and is a market leader, but will soon come under competitive pressures from DD.

Aside from that, I am taking a shot on [[RIMM]] here. For traders, should the stock break $94, you may want to cut losses.

Finally, I like the action in [[GILD]], which is a position of mine. And, I am shocked to see [[MVIS]] getting shredded like this. People must be disappointed in with what they saw at CES.

From my point of view, management has done nothing for its shareholders. There is no reason to buy the stock.

Comments »

Fly Buy: RIMM

I bought 2,000 [[RIMM]] @ $96.15.

Disclaimer: If you buy RIMM because of this post, your refrigerator will explode. And, you may lose money.

Comments »

Next: Oil Stocks Will Die

Earlier this morning, a Goldman Sachs analyst predicted U.S. recession is an absolute certainty in 2008, giving it a “10 out of 10” chance. She feels the Fed will lower rates to 2.5% and the unemployment rate will soar to 6.5%, by 2009.

Should this occur, bet your bag of “homo-hammers” oil stocks will get knee-capped, as investors look for a “source of funds.”

There are so many ways the oil companies can lose here.

Should oil gap above $100, I am 100% confident the democrats will ring the “bells of communism,” calling for a windfall tax on big oil. And, as the market gets hairy, fund managers will blow-the-fuck-out of [[XOM]], [[COP]], [[CVX]], amongst others, in order to raise cash.

As you know, the best way to play XOM getting its hair piece pushed back is via [[DUG]].

By the way, I’m no currency guru (just stocks), but converting bullshit dollars to renminbe (China’s currency) seems like a dunk shot. Currently, the dollar is at an all-time low, versus the Chinese currency, as pressures build for China to revalue its currency.

There is an indirect way to play this, via an online bank named “EverBank.”

Apparently, it allows you to open up a checking account tied to the renminbe.

Finally, look for all stocks, except Chinese ones, to come under pressure today, at least in the morning. Aside from the Goldman recession call, [[BBY]] said business blows.

NOTE: If [[FXP]] has the balls to open up under $76, I’m buying it with both hands.

Comments »

The Important Matter of Transferring My Neighbors Money

To my own personal spending account that is.

I have documented my disdain for all of my neighbors, on this blog, regularly. In the past, they’ve accused “The Fly” of “being unfriendly” or “throwing empty Monster cans” on their front lawn.

Now, I’m depleting their 401k plans and Keogh’s, in a very clever way.

This is a whole new aspect, of being short the market, I have never thought through. Which is, by making money being short, while the market tanks, I am taking my neighbors market losses and using it to buy myself stupid shit— like a new coat or pair of alligator shoes.

Silly shit.

Just today, I saw my neighbor, Steve, and asked him: “Hey Steve, how’s the market?”

He replied: “Oh man it’s tough. My 401k is down like 10%, since mid-December.”

Then it hit me, like the nuclear bomb must have hit Einstein.

If the market continues to trade lower, “The Fly” can markedly increase his net worth, to the detriment of his fucking neighbors!

A wonderful plan and vision, indeed.

I will use this new energy to my advantage and “sack” my neighbor “Steve’s” bullshit 401k plan, covertly.

God willing, the “Great Depression part II” will afflict the markets, making “The Fly” the only rich guy on his block, which will endow him with enough coin to buy every house on his fucking block. With the new property, I’m sure he (“The Fly”) intends to convert them into high end arcades, fake haunted houses or some shit like that.

Developing…

Comments »

Fly Buy: EEV

I bought 1,000 [[EEV]] @ $77.77.

Disclaimer: If you buy EEV because of this post, all of your stocks will file for bankruptcy protection. And, you may lose money.

Comments »