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
20,626 Blog Posts

Don’t Bet Against the Government

We have a full rout of the bears taking place, as investors reload, shoot, reload again.

The homies and all credit related names are taking off, thanks to the President’s bail out proposal.

In short, this is a major benefit to the homebuilders, who will likely be viewed as “more stable” and get access to the credit markets, with ease.

All thanks to the Gov’t.

With my money, I have open positions in ACF, CFC, SPF and CORS.

This is a good shoe. Milk it, then move on.

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Position Updates: VMI

I just spoke to my voodoo physician, time machine mechanic and technical analyst. They all concur: “VMI is going higher.”

The weirdest, quirkiest guy, my technical analyst, rambled about a “break out above key resistance” and  “all stocks at 80—gamble up to 120,” so his “work” says.

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Fly Buy: BWLD

I bought 1,000 BWLD @ $28.40.

Disclaimer: If you buy BWLD because of this post, this months natural gas bill we exceed $1,000. And, you may lose money.

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Fly Buys: VMI, RS, MVIS

I bought 500 VMI @ $84.50, 1,000 RS @ $53.15 and 2,000 MVIS @ $ 4.05.

Disclaimer: If you buy any of the above stock because of this post, your oven will explode. And, you may lose money.

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Buying Stocks Because It’s Fun

Naturally, writing a headline like this is somehwhat fucktarded, for the average Joe.

But, the average Joe doesn’t have the “luxury” of a plutonium powered time machine, while Fly does.

See, all of you shit talkers come here pointing at RIMM, declaring: “Ooh, ooh RIMM is down. Did you see it? RIMM is down.”

You’re a fucking homo (no offense to gay guys of course). Quit getting all excited over stupid shit, like the worlds top performing stock trading down for a few sessions.

10 bucks says RIMM cuts your balls off by Christmas.

See, you’re a pussy, unwilling to take that bet, afraid of being “de-balled.”

Look you, I have important shit to attend to. There is no recession in “The Fly’s” house. No way, ask Mrs Fly.

Whether the economy sucks or has luck, the “household of Fly” constantly has the fountains of champagne overflowing, while its inhabitants eat from golden plates.

True story.

Regarding the market:

Santa Claus is going to drop atom bombs on these bears. If you’re still short, grab some longs “just in case.”

Trust me, I’m smarter than you, with an IQ of 155 to prove it.

Finally, with my cash reserves, I will buy RS, VMI and MVIS, because it is fun. Plus, it will make me money.

And, this ACF looks rather cheap, considering where it was—just a few short days ago.

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The Consumer is UnDead

Much to the chagrin of doomsday bearshitters, the U.S. consumer is still finding ways to spend. Perhaps they are selling their 28 inch rims or blinged out gold teeth, in order to finance new bullshit tv’s from COST or jogging suits from M.

The recent numbers out of the retailers are more than encouraging. It’s “non-recessionary,” while definitely “unfun” for those who sell stocks.

Here is a short list of today’s retail movers:

AnnTaylor reports November same store sales +3.9% vs +1.8% Briefing.com consensus (31.66

Aeropostale reports November same store sales +6.6% vs +4.5% Briefing.com consensus (24.60 )

BJ’s Wholesale Nov same store sales +7.7% vs +4.4% Briefing.com consensus

Macy’s reports Nov same store sales +13.4% v +7.5% Briefing.com consensus

Sharper Image reports Nov comparable sales of -8.0% vs -10.8% Briefing.com consensus

Gap Inc Nov same store sales FLAT vs -4.6% Briefing.com consensus

Kohl’s Nov same store sales +10.2% vs +5.6% Briefing.com consensus

Ross Stores reports Nov comparable sales +3.0% vs +2.8% Briefing.com consensus

Saks Nov same store sales +25.7% vs +12.5% Briefing.com consensus

Target reports November same store sales +10.8% vs +10.8% Briefing.com consensus

Abercrombie Nov same store sales increase 2%, Briefing.com consensus +1.3%

Dillard’s reports November same store sales +1% vs -0.7% Briefing.com consensus

Wal-Mart Nov same store sales +1.5% vs +1.2% Briefing.com consensus

Gottschalks reports Nov same store sales +0.4% vs -1.5% Briefing.com consenus

Nordstrom reports November same store sales +8.7% vs +3.9% Briefing.com consensus

Costco reports Nov. same store sales +9.0% vs +6.7% Briefing.com consensus

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