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
20,692 Blog Posts

Fly Buy: RIMM

I bought 1,000 RIMM @ $100.85.

Disclaimer: If you buy RIMM because of this post, the Dolphins will never win another football game. And, you may lose money.

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Not Shorting Here

Even though the “ecomedy” looks like a shit sickle, I’m not selling here.

Instead, I want to press my bets here, adding to VMI, MVIS and LFT. That’s right, I’m trying my hand at Chinese lotto, again.

LFT looks ripe for $30 (I’m aware the previous sentence is incoherent).

Finally, as you know, I’m fucking busy right now, trying to “bank a little coin,” prior to Christmas.

I have grand plans and an over zealous appetite for “holiday risk.”

NOTE: INTC looks “gangster good” here.

Developing…

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Lotto Time

If “The Fly” has taught you anything, aside from “getting your share” or “milking the farmer,” it is to “play Chinese lotto.”

Playing Chinese lotto is far more profitable than American lotto.

Unfortunately, as you know, I tried my hand at the Chinese lotto game and lost badly, via XFML.

However, that does not mean you will not “win.”

Today’s Chinese lotto winners are:

CHNR, CPSL, CBAK, KUN, ORS, CLWT, EFUT, CNTF, PWRD, NINE, JRJC, TBV, GSI, FFHL, XFML, JADE, CDS, XING, ADY and QXM.

Thank you for playing!

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KILL THE BEAR

[youtube:http://www.youtube.com/watch?v=PTrNjngQoi8 450 300]

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This Rally is Made From Play Doh

MBI is entirely screwed.

This is a nice rally, but I get the sense the credit crisis is about to accelerate.

Right now, MBI, ABK and ETFC appear to be racing to zero, albeit ETFC is in the lead; but MBI is catching up fast.

If you happen to be long any financial stock, it might be a good idea to swap it for tech or ag.

As you know, “The Fly” placed a large bet on VMI. Thus far, it’s working, up almost 4 bucks.

MVIS has to work here. The whole “MVIS to the moon dream” of mine cannot end with a whimper. Once again, my “sources” tell me they (MVIS) will “blow the fucking doors off of CES.”

As always, we’ll see.

Finally, with any available funds, I intend to buy MVIS, VMI, HANS, FMCN and CLX.

In short, this rally is very suspect. Don’t get suckered into semi’s or financials, yet.

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Get Ready to Bank Coin

RIMM is oversold, by the way.

According to recent ADP stats (we added 189,000 jobs), the job market is on-fucking-fire.

So, not only is the economy humming along, we get rate cuts to boot.

Sounds like a perfect recipe to break a few bear noses.

Which brings me to my next point: Why did Jeremy (iBankCoin’s webmaster) put up an incomplete page for Woodshedder? Is he (Jeremy) back on the crack pipe?

As you know, we are changing the themes of the fucking blogs. Orange was supposed to be the dominant color, yet Jeremy “pearl harbored” me and went with blue. Unacceptable.

We’re off to a bad start already.

Aside from that, life appears to be somewhat ok, with the futures pointing higher and Rick “the hillbilly” Santelli still without straight teeth.

Developing…

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Late Night Thought

Goldman Sachs should go to jail.

Every single employee to the man.

NOTE: You assholes really should go over to Woodshedder and take notice of his recent work, especially if you’re a bearshitter (he’s one of you).

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Place Your Bets

This is a ridiculously tough tape.

It’s a tale of two cities, in almost every sector.

Look at retail. One one hand, AZO, JCG, JWN and FOSL look good, while PVH, EBHI, JAKK, GES and CWTR shit the shower.

In summary, it’s a stock pickers market.

Looking at some of my positions, I am tempted to add more RIMM, MVIS, CLX, VMI and FXP (just in case).

In my opinion, GRMN can’t be doing well, while RIMM suffers. Something is wrong.

Either GRMN is too rich or RIMM is too cheap.

I choose the latter.

Finally, my “shotgun to the head pick,” VMI, did well in today’s tape, partly thanks to strength in agriculture related names. With fresh cash, I would buy it, all day, under $85.

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