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

Honk-Honk, Beep-Beep

Where shall I begin?

Chinese output increased for the first time in 6 months, at the same time everyone in the U.S. is unemployed and/or homeless. That’s odd.

Ken Lewis of BAC is a lying sack of southern pecans. And, finally, Congressional mandated fraud, via FASB rule change, is giving a lift to stocks, particularly banks, early this morning.

For the moment, I will put my sour grapes to the side and attempt to recover some of my erroneous losses in FAZ/SRS. Although it sucks to be on the receiving end of a “fuck you, you’re dead” rally, I am only long 2,000 shares a piece.

After things settle down a bit, I will start nibbling at some semis, starting with a little USD, then some more SPIL. In addition, I like the action in TQNT, TER, KLIC, NIHD, CIEN and maybe a little EZCH.

In short, I might just start buying shit, with both hands.

Stay tuned.

NOTE: The action in crude is extremely bullish. For the moment, I want no part of oil shorts. Instead, I may explore some longs.

UPDATE: I bought 2,000 ERX @ $26.67

UPDATE II:
I bought 2,000 EZCH @ $12.95, 5,000 CIEN @ $8.62 and 5,000 NIHD @ $16.60.

UPDATE III: I bought 5,000 ISIL @ $12.40

UPDATE IV: Long another 2,000 FAZ on an average down @ $17.15.

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It’s a Madoff World

I put up a Godly screen for low priced breakouts over at The PPT. Enjoy.

As for you, the ingrate, I will share several thoughts and names. Firstly, I would like to say, before this rally dies a horrific death, it will produce HUGE small cap winners. As you know or not, towards the end of any bull run, the shit floats to the top. Back in the day, when I was as dumb as a bag of black bricks, I’d get caught with a portfolio full of offal, just in time for the hammer of certain death to rain down on my stone-head. However, now that I am all smart and shit, I go into such said trades with two eyes open, always on the lookout for grisly men with big hammers, scouting for degenerate OTB guys.

Back to the point: Although low priced stocks aka “OTB picks” have moved up in price lately, there may be another inning or two left, prior to their ultimate and most definite demise.

Courtesy of The PPT, in conjunction with the Grande Recursive Order of the Knights of the Lambda Calculus, here are some stocks under $10 worth exploring:

AIRV, HIMX, YGE, CSIQ, ANH, GLG, TIBX, CY, IAG, NSANY, TLAB, DLM, INFN, HL, CHS, AZK, ES, LMC, ICGE and CACH.

UPDATE: More bullish news for stocks.
[youtube:http://www.youtube.com/watch?v=PK2LBTumItc 450 300]

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You’ve Been April Fooled

“The Fly” doesn’t need no stupid Vulture Capital funding. It was all a big ruse, in order to force some of you lemmings into emailing me congratulatory messages. MISSION ACCOMPLISHED. It’s one of those “The Fly is winning, despite the appearance of losing” sort of moments.

The market is crazier than bat shit in a mental hospital, with herky jerky moves, kneecapping then “splendour [sic] fucking” (I realize that term is meaningless) overzealous short sellers, who wear pink suits to work and yellow turbans to bed.

My SRS position did fine, while FAZ took brassed knuckled jabs to the teeth. At the present, I am content with the action in TLT and SPIL. Moreover, after all of the mark to market/G-20 circus geek act is up, I promise you, “The Fly” will step into this market with great vigor and fashion, in an effort to perplex and annihilate the many foes betting against me.

So you know, I’ve been spending my days eating ham sandwiches and talking to business associates, aside from blogging. Let it be known, I have many irons in the fire; so many, you would not believe me if I told you.

When down and in doubt, depressed about your pathetic lives, feel solace in knowing, somehow, somewhere, “The Fly” is winning and enjoying it.

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Make Lemonade

Never mind what I am doing. The majority of you out there are low grade gamblers, who NEED to invest daily, in order to get a fix or some emotional high or some shit.

While everyone is all giddy and shit, you might as well get long some ag, banks and tech—no kidding. Providing you will limit the downside on your positions, going long amidst the apocalypse is okay.

Within ag, [[MOS]], [[MON]] and POT look good. Within banks, the U.K. is helping BCS commit fraud, by way of lying about everything. And, within tech, I like small cap crap SPIL, NFLX and NTES.

Your hedge should be short crude, via SCO and short CRE, via SRS or direct sales in ACC and HME.

Back at the deflationary vortex pub, I like TLT, up to $115.

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WINSHIP

A lot of you losers talk shit, for the fun of talking shit— I gather

Let’s take a gander at my recent moves:

Sold SCO for two point win.

Long FAZ from low $19’s

Long SRS from low $54’s

Long TLT from $105’s

Sold out of PCR for a small loss

Sold out of BUCY for small win

And, all of my commentary has been spot on, from short ACC to WRI to MAC to HME to RIG. So, while you’re over there, day dreaming about the life you could have had, I am here in a fucking diamond spaceship/time machine, doing rocket man type shit.

The shit that you do on weekends is for chicks. I have robots with more personality than you.

I cannot tell you exactly when “The Fly” will step in large and house this market. However, I am pleased to report, business is at an all-time high and the sweet taste of “Victory Nectar” has never been sweeter.

I bought a little SPIL, due to inane strength in the semis. Why fight it?

Also, the trading pattern reminds me of CY, which, incidentally, was another win. Let’s not forget about my glorious wins in SWHC and RGR either.

See folks, “The Fly” is in a constant, some might call it “perpetual,” state of victory or “winship.” You can try all you like to besmirch me, by way of homo’d out comments on the blog. However, we all know the truth. You are just kidding youself, while putting your mustache in grave danger of being knocked the fuck off.

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Fly Buy: SPIL

I bought 5,000 SPIL @ $5.91.

Disclaimer: If you buy SPIL because of this post, your gardener will go postal on you and cut down your favorite tree. And, you may lose money.

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Zombie Rally

We got ourselves a bunch of dead corpses bouncing around here, eating the brains of unprotected short sellers. Just this morning it looked like the market was about to rollover, then BAM,the zombie bank shuffle kicked in. Gains in the banks are being led by C, BCS and COF. Le Creme of the crop. The captains of industry.

Back in the real world, crude is down again. However, oil stocks are higher. At this stage, I have no confidence in equities, long or short. If I wanted to put my bear trade back on oil, I’d go the SCO rout, instead of betting against oil stocks. The commodity markets are less manipulated than the equity markets, if you can believe that.

I still like my TLT and yes I am still long both SRS and FAZ, however, in small quantity.

Gold stocks look good here, particularly GOLD and RGLD. Even though the dollar has been relatively strong, gold has been hanging in there. Should the dollar weaken, I am sure gold/silver will spike to new highs.

Finally, cre names are weak, led by losses in UDR, WRI and SPG. But, considering yesterday’s gorilla raping of the shorts, I’d hold off on any new cre shorts or SRS purchases. I’m at a weird place now, where I have loads of cash to invest, but lack the motivation to allocate it, since I am wary of government fuckery.

NOTE: It’s true what Chart Addict says: iBankCoin raised some money through a Vulture Venture Capital group. Funds will be used to heighten the level of fuckery that I am on and expand it to all parts of the globe.

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Words of Wizardry

A great man once said “I want an armageddon asap!” This thought and sentiment is exactly how I feel, truth be told. Just bring it on already. Fuck all of the foreplay. Let’s see tanks roll over protesting hippies in D.C. and U.S aircraft carriers sink shrimping boats off the coast of China.

I am greedy. I want it all.

I want real fiat currency to be worth less than the monopoly variety. And, I want to see most stocks go to zero, INCLUDING all of the inverse etf’s.

RIM SHOT!

Aside from all that, Japanese business sentiment is so bad, they might as well bring back the samurai and attack China on horseback, and shit.

Oh, and Obama said GM should go bankrupt. SHHHHHhhhh, don’t fucking tell anyone. It might cause a stir.

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