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
23,354 Blog Posts

Fly Buys: GU, DE

I bought 10,000 GU @ $2.10. And, I bought 2,000 DE @ $36.75

Disclaimer: If you buy GU because of this post, Obama will ask you to step down from your position. And, you may lose money.

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Fade the Jubilation

I am eliminating my fucking cash position, since it is not the behavior of a distinguished gentleman to have large pools of cash, just lying around doing nothing.

My dilemma: it’s stupid to go “all in” after the fact. If I conducted myself in such a manner, to hell and with bollocks, I’d run out of savings inside of 3 months time.

Instead, I’ve decided on a hybrid model, which is: bet against the Cramer circle jerkers, via long FXP/SRS/FAZ, while at the same time long some pretty gnarly (garbagio) tech stocks, just in case the “Cramer clan” decided it’s 1999 again.

As an aside, the action in KIM, following a 70 million share offering, is impressive. However, with regards to REITS, I’m afraid if you are not long KIM, MAC or SLG today, you’re getting punched in the throat.

As for the banks:euro trash banks are still running. I can offer zero reasons to buy the insolvent AIB, yet here we are and the stock is up 25%. In addition, RBS, LYG, BCS and UBS are green. For the most part, U.S. bank bulls have had their fill and are running for the cold part of the volcano, away from the hot hot magma.

Finally, I like my chances here, whatever the fuck it is that I think I am doing. I haven’t quite figured out exactly what my agenda is just yet. Just know, whatever it is, I shall win. After I am finished winning, I shall win again.

The process just keeps on repeating itself. I swear, no lies.

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Fly Buys: ISIL, TQNT, EZCH, FXP, FAZ, SRS, CIEN, ERX, STAR

I am putting a shitload of money to work.

I bought ISIL @ $12.61, TQNT @ $3.00, EZCH @ $13.10, CIEN @ $8.68, STAR @ $14.77, ERX @ $27.65, FXP @ $22.55, FAZ @ $18.05 and SRS @ $46.80.

I am creating “Le Arte.”

UPDATE: I am buying FAZ/SRS/FXP into this weakness.

UPDATE II: Not feeling “earl” here. Sold out of ERX @ $27.60

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Godly Numbers and News

I am absolutely livid over the prospects of boom times. It is, as the great Greek philosophers of 20,000 years ago used to say, “right around the corner.”

Get this, the United States of America ONLY lost 663,000 jobs last month. And, previous month job losses was revised upwards to the tune of ONLY 80,000+, putting total losses around 740k.

Are you kidding me? This is fantastic news. Just last night, I was talking to my neighbor “Steve” about politics and worldwide famine, over a flaming barrel of garbage, he said, and I quote: “we’re gonna lose like 2 million jobs this month.”

Based upon Steve’s expectations, these numbers are great; do coke and buy stocks, w00t, w00t!

In other good news, North Korea is scheduled to launch some kickass missile that can obliterate Hawaii.

w00t, w00t!

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Biggest Winners, YTD

An oddball of a list. (Excludes dishonourable stocks.)

Courtesy of PPT.

PRSC 384.14%
GOE 341.58%
ANDS 326.11%
DFT 262.32%
SMRT 201.77%
PALM 201.3%
APAC 194.21%
FIG 194%
SIRI 191.67%
QUIK 190.48%
END 180%
MIPS 178.38%
BGP 162.5%
SWHC 158.01%
IVN 149.48%
TGB 147.37%
WZEN 143.9%
S 142.62%
SOLR 141.49%
RNIN 139.02%
LNET 132.86%
RT 131.41%
ENTR 118%
ISLE 117.19%
CVTX 116.29%
MCGC 115.49%
JAVA 115.18%
MF 113.24%
ENOC 113.04%
QTM 111.11%
RFMD 110.26%
IOC 107.13%
DK 106.08%
YRCW 104.88%
PMII 104.59%
NG 104.08%
WFMI 100%
VVTV 100%
RGR 98.91%
DIOD 96.53%
SIRF 96.02%
NURO 95.4%
UBET 94.12%
VGZ 93.75%
TREE 92.31%
STEC 90.85%
AVNX 89.52%
NWY 88.79%
KIRK 88.68%
NAK 87.5%

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Going in

All in all, not a good day for Senor Tropicana. Early purchases of FAZ proved to be nonsensical, as stocks kept the majority of their gains into the close.

Nonetheless, I decided to start putting some serious money to work.

Over the last hour of trading, I bought blocks of CIEN, ISIL, ERX, TLAB, TQNT and a little more of my illiquid fav EZCH.

Then, as things started to weaken, I averaged in on more FAZ and SRS. I don’t have my numbers down yet, but I’m guessing I have 40% cash, 40% long and 20% short.

Rome was not destroyed by barbarians overnight, nor will the market destroy me, until I am old and stupid.

It’s worth mentioning, the amount of fuckery taking place in the 3x etf’s is so severe, I am without words. They are fantastic trading vehicles, but grinders of capital to the 10th degree. The whole market to market scandal is a scam. Allowing the banks to make believe they are not mortally wounded is like a soldier hiding a bullet wound to the chest. At the end of the day, both will die.

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RED ALERT THAT IS NOT RED: BANK REVERSAL!

Banks are selling off here, led by NTRS, JPM, CMA, MS, BK and CFR.

I am feeling mighty fine (southern accent) about my FAZ positions, right about now.

As for my tech holdings:

I sold out of NiHD for a 2k 5k (who’s counting?) win and SPiL for a 10% victory. I am long TLAB, CIEN, EZCH, ISIL, TLT and ERX.

NOTE: The Senate just passed a bill that requires the Fed to reveal who they are lending money to. Holy Shit that is bad news for banks!

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Dollar Raped

I will keep this short.

Because the EU chose to cut by 25bps, instead of 50, the dollar is getting “mushroom clouded.” Sadly, this is exactly what our policy makers want—inflation.

Because of this development, I changed my mind on oil and commodities and want to be long via ERX.

There should be a follow through tomorrow, in the commodity sector, considering the dollar is being clown raped to the tune of 1.7% today.

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Dance Bitch, Dance

I’m doing a nice jig in my office right now.

I don’t care about FASB rule changes or what certain asshole television personalities declare on the teevee. I do not invest for one day or even 10. I am creating art here, assholes. Whether you know it or not, I am here to tell you.

Sure, it would have been nice to catch the entirety of this run. Sure, it would have been pleasant to not deal with getting stabbed in the eyes, via FAZ/SRS assaults. However, this is not the last day of trading for the market. There will be plenty of trades to nail and some to get body slammed on. Life is all about kicking your neighbor down an idle sewer pipe.

If you got caught short, instead of wallowing in the shower, crying like a little bitch, get out there and punch someone in the nose, then buy some stocks. It’s important to be objective when trading/investing.

As for me: I bought a variety of tech stocks this morning (CIEN, EZCH, ISIL, NIHD), giving me an overweight position on the long side. I still have my FAZ/SRS horror show going on. As a matter of fact, I nibbled, like a small rat inside of a can made from 100% sweet corn, at a little more FAZ in the low $17’s.

Fuck it.

With oil up here, I got lazy and went long ERX, instead of cherry picking some individual names. In addition, I sold out of the 5,000 SPIL that I bought yesterday for a 10% win.

As for some of you retards: Going into today, I was 90% cash, long 2k of FAZ/SRS a piece, long 5k SPIL and 2k TLT—giving me a morning net loss of 8k.

I PISS ON 8k.

Shut the fuck up and recognize that you are unable to ever beat me. Don’t get me wrong. You may outperform “The Fly” for short periods of time. However, before you know it, HORATIO CLAWHAMMER is chasing you with an oversized, umm, clawhammer—attempting to make art of the concrete, using your brains.

NOTE: For the first time in a long time, The PPT Overall score is above 3 (buy). In short, every previous score of 3 was marked by a near term top in the markets. Of course, this time can be different. However, I thought it was worth mentioning.

UPDATE: I sold 5,000 NIHD @ $17.40—day trade.

UPDATE II: I bought another 2,000 FAZ @ $17.70

UPDATE III: I bought 5,000 TLAB @ $4.98.

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