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
21,314 Blog Posts

Banks Bust Bulls Balls, All Day

Stop with the chips already. The analyst from [[BAC]], who upgraded the chips today, is as competent as his firms risk supervisors.

Without the upgrade, the nasdaq would have been flat.

The real story is the current status of the banks. All day, sellers leaned on them, driving down shares of [[LEH]], [[FNM]], [[GS]], [[ABK]], [[DSL]], [[FED]], [[ETFC]], [[MS]] and [[MER]].

Quite frankly, the weather in NYC is too “delightful.” I have no motivation to talk down stocks right now, and act like some sort of asshattish bearshitter. Maybe tonight.

As you know, “The Fly” enjoyed a major personal victory today, which will lead to great celebration and consumption of 2 1/2 inch rib eyes and aged red grape.

I did lots of stuff today, nothing wourth [sic] bragging about or anything. In short, I am extremely comfortable with my market weightings, despite Woodcheddars nuevo bullish tone.

I’ll remind you, people are like goats, easily tricked, easily slaughtered. Right now, the trap is being set, under the disguise of eery complacency.

Finally, “The Fly’s” spring-summer schedule is quite busy, as the little ones get ready for outdoor sports. However, even if I am not around to tell you how fucking stupid you are, just know, every 10-15 days, “The Fly” is thinking about it.

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“The Fly” Just Scored a Major Victory


UPDATE: Due to the extreme nature of my new “win,” I am unable to share any details with you (internet leech). So sorry.

You may resume to live out your pedestrian mundane lives.


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Fly Buy: FXP

I bought 1,000 [[FXP]] @ $78.55.

UPDATE: I bought 1,000 FXP @ $79.

Disclaimer: If you buy FXP because of this post, your toaster will electrocute you. And, you may lose money.

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My Charts Are Cooler Than Yours

Hey, good news for the bulls. Charlie Gasparino has reinitiated rumor coverage on [[ABK]] and [[MBI]] today, saying “the bond market says they need capital.”

Keep in mind, he is not relaying tips or reliable information. He’s simply rumor mongering.

Good news, indeed.

Regarding the market:

Technology is leading the way up, with gains in [[AAPL]], [[RIMM]], [[GME]], [[INTC]] and other Godly names.

On the other hand, most of the banks are behaving rather ungodly, as smart money runs from [[GS]], [[LEH]] and [[MS]].

At the end of the day, “The Fly” is perfectly willing to see ‘tards trade technical breakouts, while sharpening his knife for an early killing in May.

Fuck CNBC UPDATE: Immediately following a question asked of Bernanke regarding how today’s circumstances compares to the Great Depression, they cut to a commercial.


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A Detailed Look at Today’s Trade

Okay, maybe the planet isn’t going to explode, just [[LEH]]. Exports are still being shoveled out at a record pace, thanks to the weak dollar. Unemployment is not that bad. And, [[WMT]] is a taking a pickax to [[TGT]].

However, in order for the market to rip higher, in my opinion, the commodity bubble must be popped. You cannot have a bull market, when oil is above $110.

Sorry, I will not allow it.

Right now, semi’s are melting up, led by [[INTC]]. I will not try to explain why. It just is.

Banks are lukewarm to down. The dollar is being urinated on by the yen. And, [[TSCM]] is ripping.

That pretty much sums up today’s market.

See you later, fuckfaces.

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I’m Short Planet Earth

Long Jupiter.


NOTE: Aside from Adam, all you other bloggers on this site are lazy cow-fuckers.

[youtube:http://www.youtube.com/watch?v=AyGc_rlF8aA&eurl=http://www.optionaddict.net/ 450 300]

Disclosure: Short [[TSCM]]

Hat tip: Option Addict 

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