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

Time Machine Related Information

Today marked the 6th consecutive winning session for the Naz. Without doubt, we are enjoying a “Santa Claus rally.”

In addition to that, many fund managers are walking up their positions, for end of year sales literature. Basically, they want prospective investors to see their fund is long [[AGU]], [[MOS]] or [[GS]].

One big positive for the market is the resurgence of liquidity, via sovereign wealth funds. A new one coming out of Saudi Arabia will manage 900 billion dollars. It’s like fucking monopoly money to them. Unreal.

With all that coin, it seems plausible that there will be a bid under many of the financial stocks. The zillion dollar question (clearly not to outdone by trivial billion dollar questions) is: How stupid are the Arab managers?

If I were them, I’d see to it that the insurers, like [[ABK]] and [[MBI]], go bankrupt. This way, I’d be able to go “jumpin’ jihad” on [[C]], [[MS]] and [[MER]], buying all of them for half of what they are worth now.

However, that’s just me. I’m somewhat evil. They’re much nicer than “The Fly,” without a doubt.

As for today’s light trading:

I enjoyed caffeinated moves in [[WBD]], [[CORS]], [[LFT]], [[AGU]], [[RIG]] and [[MVIS]].

Again, I cannot stress this point enough: use this low volume manipulatory rally to lighten up and set up hedges. The reasons why I believe the market will get flushed, during the first two weeks of January, are “time machine” related and, quite frankly, none of your Goddamn business.

Top pick: [[FXP]]

Comments »

Fly Sell: LEH

I sold short 1,000 [[LEH]] @ $64.38.

Disclaimer: If you sell short LEH because of this post, you will suffer from food poisoning on New Years Eve. And, you may lose money.

Comments »

Fly Buy: FXP

I bought 1,000 [[FXP]] @ $70.65.

Disclaimer: If you buy FXP because of this post, someone will throw hot tar on you new car. And, you may lose money.

Comments »

Be a Man

…even if you’re not.

Quit relishing your new sweater and bullshit tube socks, fresh from under the decorated plastic tree in your living room.

I know, right now, all you want to do is coast, until after New Year’s. I suspect, you have a diet planned out—ready to finally shed 15 pounds. This year, you really will go to the gym; and you’re gonna make it big, right?

Fucking pussies. Get to work now. There’s plenty to be done.

For example: you should be preparing for the New Year heart attack tape. This market is going to get its teeth kicked in, during the first two weeks of 2008. Are you ready?

No, of course not. You believe in the “Santa Claus rally.” Then, in about two weeks, you will believe in the “January effect.”

Sheep.

With my money, I will sell into this benign tape, while preparing my next win. As you know, “The Fly” scored a major victory with [[VMI]]. More recently, I took a small floating trade on [[AGU]], and the stock has gone rocket ship since.

Profits will be taken.

NOTE: The Godly folks have inserted a quote system, found on the front page, for my pleasure. Enjoy it with my compliments.

NOTE II: In an effort to “prove” my market prowess, I will be releasing my iBankCoin Fly buy/sell performance data, every quarter— from here on. I believe Danny and Wood will do the same. It’s not a perfect system, since it will not include weightings and my real performance, via biggest holdings. However, it will identify my stock picking ability, which is top notch, as you know.

Comments »

The Important Matter of Link Exchanges, part II

Let’s clear the air, shall we?

Many of you bloggers keep blogging. What the fuck?

You make a mockery of the English language, with all sorts of fucked up syntax, while embarrassing yoursevles with third tier financial research—constantly losing coin.

I’ll have you know, “The Fly” doesn’t like the blogosphere. As a matter of fact, he despises it. If “The Fly” had his way, he’d arrest 3/4th’s of you retards (third tier bloggers) and put you in work camps, mainly for fun (by the way, I’m running for President).

Just today, much to my chagrin, I was informed of a most egregious act. Apparently, one of my fellow IBC bloggers emailed an array of third tier blogspotters, in order to execute a weak kneed link exchange. This, as you know, is illegal and can lead to his dismissal.

Just in case you received one of those emails and happen to be reading this: fuck you. Also, I’ll have you know, “The Fly” will find you, then kick you down a mountain of garbage, while guzzling his florescent green soda.

I strongly suggest walking around town with a bike helmet—just in case.

Enjoy the rest of your holiday—lazy cow grabbers.

Comments »