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
23,376 Blog Posts

Death Knell Pending

Should City Center file for bankruptcy, MGM will likely follow suit and all of the contractors working on the project will get hit too. As a result, unfortunately, I sold out of my PCR position, for a loss.

I bought some SRS, based upon the MGM situation and the possible jarring effects it should have, for the REIT sector. However, keep in mind, I am just getting started. For now, I will continue to hold my little NSM position.

Apparently, the market forces are ignoring such detrimental news and attempting to bottom fish here. My hunch, such efforts will result in outlandish losses for the assholes who choose to ignore things, such as reality or non-fiction.

Don’t get me wrong, I do not wish death to U.S. equities, only a deep coma. I am not bitter, whatsoever, over missing out on the biggest rally since, well, the great bottom of ’74, not at all. “The Fly” is a simple working man, who harbors no ill intentions against asshole dip buyers or idiot bank lovers.

Coming back to the idea of “reality,” it is very possible for us to bear witness to the greatest ponzi scheme (U.S. Gov’t) ever concocted, since the “The Great Stimulus plan of 12,331 B.C.,” where all cavemen were encouraged to put leopard skinned rugs on their cave walls, instead of the cheap prairie dog kind. What a ruse! At any rate, we may very well see the Dow Jones Industrial Average drop by a whopping 50% from today’s levels, based upon good ol’ fashioned DEPRESSION and WORLWIDE FAMINE.

Pardon me for being a two bit alarmist. It is my style.

UPDATE: I sold out of my BUCY position for a .30 win!

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The Buy List

I’ve had a lot of time to think about my asset allocation. For the moment, I will overweight on the long side, at least until May. There is no way I enter the summer long equities.

Most likely, I will keep a good 10-20% in cash. I intend to make some pretty bold moves, which will be refreshing, especially since I’ve been acting like a big pussy.

Once gain, target shorts are ACC, WRI, MAC (2 points higher), HME , PACW and RIG. As far as etf’s are concerned, I will take a stab at FAZ in the teens and SRS in the 40’s.

I had a dream DUG went to $18. Therefore, I shall endeavor to buy it at $18.

On the long side, people think the recession is over, no shit. That is why semi’s are spiking. I will entertain these delusions via a long NSM position.

I like construction firm PCR and mining play BUCY.

In tech I like LOGI, NTGR, JNPR and CHL. In finance, I like AMG. And in health care, I like Ci. If forced to play oil, I’d buy GMXR, for a squeeze. And, in retail, I like GES.

Oh, don’t forget the fucking railroads, via GWR.

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Banana Run

Certain such said suckers are suggesting that I seek solace in selling stocks, in order to bank coin. When will you fuckers learn? “The Fly” does not need nor want advice from the likes of you. He bounces to his own bombs. He dances to your debacle.

I went long thrice times today, only on a personal basis, via PCR, NSM and BUCY. While it’s true, stocks cannot keep running like this forever. It’s also true, when companies like BBY and FDX break-the-fuck-out, the game changes.

The game has changed because Americans are degenerate credit card wielding fruitcakes. People are spending again, somehow. It’s important to take note of that.

From restaurants to retail stores, stocks are on fire.

On a very personal noteworthy note, I will be putting cash back to work, in a very slow, methodical manner. So you know, today’s bullish thesis may become tomorrow’s bearish dissertation, if that makes any sense to you.

Trade like the wind and pray to curry favour [sic] with the stock Gods.

UPDATE: The PPT Top 10—

1 OCN 4.12 4.40 4.24 12.47% -12.73%
2 LFT 4.37 3.90 4.17 10.32% 41.41%
3 TCK 3.41 5.10 4.13 2.74% 23.88%
4 CMO 3.37 4.95 4.05 -1.70% 16.57%
5 TIBX 3.62 4.60 4.04 7.16% 38.23%
6 JJSF 3.72 4.45 4.03 13.20% 26.73%
7 SPIL 3.22 5.10 4.03 10.71% 24.62%
8 TNDM 3.97 4.10 4.02 4.15% 18.71%
9 DNA 3.87 4.20 4.02 1.26% 11.63%
10 SUR 3.27 5.00 4.01 17.94% 11.63%

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Going Higher Because it’s Fun

So you know, I locked HORATIO CLAWHAMMER in a closet lined with lead, in order to have a little fun, playing the long side for a trade. As you know, I only bought two positions, PCR and NSM, mainly because I find it difficult to get knee deep here, AFTER missing out on the most awesomeness run in the history of equity markets.

And, also, I think stocks are for dipshits and shall/will trade lower, eventually.

However, providing the trannies keep going higher, I am comfortable with a few longs.

For the love of global warming a dead polar bears, I am about to get heavy into this market and need to feel out what might work or fuck me. So, in the meantime, you can just sit there, like the sad sack of shit that you are, and simply wait, mind you, for “The Fly” to offer cogent guidance.

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