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
20,567 Blog Posts

Bulls Digest Bears

A rather benign day.

God willing, the bears will get coal for Christmas, enabling the bulls to get drunk, throw “rich man’s whiskey” around the dinner table, while eating large quantities of high end chop meat.

Once again, “The Fly” was busy, on the phone all day, talking to richer people than you. I can tell you, people are thinking opportunistically, sifting through the carnage—elbowing into beaten up tech and financials.

Today, I enjoyed big dicked gains in FTK, CFC, SPF, LFT, VMW, FMCN and CN.

Also, as you know, I sold short TIF, and bought some DCR (inverse oil).

All in all, today was a “best case scenario” for the bulls. Should the rally continue, saddle up to beaten down basic material stocks, like RS, X and ATI.

Finally, this VMI fucker must move. It’s impossible that LNN is near new highs, while this “waste of alphabet letters” sucks crack pipe.

Once again, top pick is VMI.

Comments »

Fly Buy: DCR

I bought 1,000 DCR @ $15.88.

Disclaimer: If you buy DCR because of this post, peak oil will come to fruition. And, you may lose money.

Comments »

Fly Buy: MVIS

I bought 2,000 MVIS @ $4.12.

Disclaimer: If you buy MVIS because of this post, your only son will grow up to be a mortgage broker. And, you may lose money.

Comments »

Quick Alert: Drinking “Tons of Coffee”

Sometimes, upon over caffeinating himself, “The Fly” makes overzealous financial decisions.

Thus far, I’ve sold a little VMW, which I bought 10 bucks lower. Also, I have initiated a TIF short position—into earnings.

Normally, I would never bet against “the rich man.” However, I feel like doing it now.

Looking at retail, it is a mess. Today, MW, BONT, ARO, SHLD, CTRN, PERY, PVH, amongst others, are receiving the “homo hammer of death.”

My point: although it’s fun to say ignorant things, like “fuck you, you’re dead,” or “kill the bears”— be careful.

While enjoying the relief rally, do not forget the pain of last week.

In short, it makes sense to build a 10% cash position, with another 10% in short positions, just in case.

Viz.

Comments »

Fly Sell: TIF

I sold short 5,000 TIF @ $48.16.

Disclaimer: If you sell short TIF because of this post, your neighborhood will become an Italian mobster hang-out. And, you may lose money.

Comments »

Fly’s Short List

As you know, the other day, “The Fly” promised the internet a short list of stocks that were worth “going short.”

Here it is:

TIF

With earnings coming up, my guess, the high price of gold is hurting their stupid margins. Plus, the consumer is knee capped.

Looks good to sell—down to $39.

Comments »

Kill the Bear!

I don’t have much time to spend with you internet leeches. As you know, when the markets go up, “The Fly” is busier than you, banking profuse amounts of coin.

Thus far, today’s action is telling me the bears want no part of this market. The pendulum has swung—they are now on the run.

Instead of letting them get away, I suggest trying to kill them, via going long stocks with big short positions.

Short term, I anticipate squeezes in BWLD, VMI, LFT, FMCN, VMW (already underway), HANS and FTK.

As far as rolling dice is concerned, CFC looks good for a bouuncy bounce.

Off to do “way more important things.”

Comments »

THE WOODSHEDDER BOTTOM

Odd, no?

In other news, the smart people at iBankCoin.com (you’re welcome) will be adding a new feature to the site, today.

Every week, we will feature a blogger from the Peanut Gallery, on the front page.

Naturally, Ducati, aka Dr. Duc, will be first.

Enjoy, or not.

Down the road, upon vast success of the site, I envision “sharing” revenue with some of the more prolific bloggers, albeit tiny.

Also odd, no?

If you haven’t done so already, especially shit talking beartards, sign up for the Peanut Gallery, in order to embarrass yourselves on a higher level.

Comments »