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
20,691 Blog Posts

Goldman Pulls a Rabbit Out of its Asshat

Of course, [[GS]] just obliterated earnings estimates, much to the chagrin of those who bet against it. For the record, I have no position in GS, just [[SKF]], which is scheduled to gap the fuck lower at the open.

Aside from Goldman “magic,” [[BBY]] posted kickass numbers, and guided higher for 2008.

Perhaps [[CC]] will, finally, bounce in sympathy.

In short, today looks like a rally day, with a variety of names 2-3% higher—including [[FRX]] (no, I didn’t buy it because of Chuck, morons).

Early going, I won’t fight the rally. I may nibble at some bottoms, while frantically preparing a meatball sandwich.

NOTE: Despite Goldman’s smoking hot numbers, the stock is barely up—a very bad sign, indeed.


Comments »

Late Night Thought

I’m so right it hurts.


  FRX FDA approves nebivolol for high blood pressure

Fly & Chuck Bennet win, again.

Comments »

Betting Against Goldman

The bull camp of Goldman Ball Sachs is disgusting. For some reason, those ‘tards believe [[GS]] can keep doing it.


I don’t care how smart and well they cheat, the firm will suffer, as the market melts into oblivion. Aside from market and credit losses, how about m&a?

Look you, now is not the time to paint your face blue, get drunk, then buy stocks. During “Santa time,” people are oblivious. No one cares about the market. And, those who are paying attention are as nervous as a cat on a hot tin roof.

Late in the day, I took some profits in [[FXP]], catching more than 20% in a short week.

With the proceeds, I bought more [[SKF]].

Essentially, I’m betting against GS, and all of the hatfuckers who cheerlead for them.

Fuck Goldman.

Finally, sometime soon, the market is going to get a relief rally. When it happens, all of the talking heads will tell you to ignore inflation data and weak retail sales. They will say: “financials are a great value here.” However, what they fail to acknowledge, as always, is the “E” part of “PE.” Meaning: earnings will be absent in the financials, for most of 2008.

Look for the market to correct to the tune of 10-15% in 2008.

Comments »

Fly Buy: SKF

I bought 3,000 SKF @ $102.14.

Disclaimer: If you buy [[SKF]] because of this post, 2008 will be your worst trading year ever. And, you may lose money.

Comments »

Fly Buy: SKF

I bought 1,000 SKF @ $100.

Disclaimer: If you buy [[SKF]] because of this post, inflation will be the cause of your future divorce. And, you may lose money.

Comments »

Waiting Around for a Bounce Can Get You Shot

It’s sort of like waiting for a bus, in a really bad ghetto—always a bad idea.

With [[GS]] numbers due, “The Fly” has zero interest “playing a bounce.”

This is serious business, ladies and asshats. Instead of getting all confident, buying dips and shit, why not play a few games of chess or darts?

Right now, I’m setting up for a worst case scenario, which I anticipate to occur early 2008.

Top picks: [[SKF]], [[FXP]]

Comments »

Wait, Then Shoot

With the possibility of a rally brewing, I will hold off on any inverse ETF buys, until 3:30.

No market goes down in a straight line, as do-gooders throw good money at bad.

For the most part, the ag sector is the only sector worth investing in, with nice momentum in [[BG]], [[MOS]], [[CF]], [[AGU]], [[POT]], [[ADM]] and [[VMI]].

Currently, I hold a sizable position in VMI.

Watch the financials. Should they continue to rally, there is a better-than-average chance the market will turn its “homo-hammers” on the bears.

UPDATE: Fuck it. Go ahead and shoot.

Comments »