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
22,158 Blog Posts

Holy Shit

Are my eyes deceiving me? Oil is up more than 5 bucks now. On this move, I suspect the market will weaken. If it doesn’t today, it will tomorrow. Nonetheless, energy related stocks should “retard up,” while everything else burns to a crispy cinder.

Right now, [[FTK]], [[RIG]], [[ARD]], [[PCZ]] and [[UPL]] are screaming buys, amongst many others in the space.

For a dice roll, take a look at [[PZE]], [[LEI]], [[END]], [[XCO]], [[WRES]] and [[TXCO]].

This market is crazier than a hungry lion on the moon.

NOTE: If you want to forgo all the noise and just get long crude, take a look at [[DYY]], another 200% upside product.

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Food and Beverage Stocks Eating the Bears

Food and beverage stocks rip higher, when prosperity springs. There have been studies done, none available to me at the present, that draw a correlation between beverage consumption and wealth creation. Basically, people drink more soda pop when they have money to burn. When poor, they’re more likely to drink water out of a dirty lake.

Today, many of the food and beverage stocks are “homo hammering” the bears, into small pancakes.

On the top of my list is [[HANS]]. I know the stock has been a serial underperformer. However, keep in mind, their problems have nothing to do with end user demand. It’s the rise in their input costs that is killing their margins.

Here is a short list of food and beverage stocks worth monitoring:

[[DPZ]], [[JMBA]], HANS, [[CALM]], [[GAP]], [[WBD]], [[MSSR]], [[DPS]], [[JSDA]], [[CMG]], [[PEET]], [[BAGL]], [[TXRH]], [[ABV]], [[NAFC]] and [[NATH]].

In short, we’re fucking rich again. Go get drink and eat yourself into a stupor—you fat slobs.

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Position Update: FTK

If you’re interested in a potential short squeeze, take a gander at [[FTK]] again. With 4 million shares sold short or 15% of the float, and crude/natty going up, this sucker has a potential to print $20+ again.

The downside surprise has been eliminated, at least in the near term, due to the company’s recent guidance. And, if you’re a glass half full type of guy, one can make the argument that the current eps estimates represent a very low bar for the company.

In short, trading under 15x, FTK can easily rip to the low 20’s and start a short squeeze, especially since the stock trades on thin volume.

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Fly Buys: PZE, RIG, FXP

I bought 2,000 [[PZE]] @ $13.07, 3,000 [[RIG]] @ $145.20 and 1,000 [[FXP]] @ $69.40.

Disclaimer: If you buy the above stocks because of this post, your only daughter will marry Dennis Kneale. And, you may lose money.

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Fly Sells: VSE, AVR

I sold out of these positions. They were experiments in stupidity gone awry.

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Off to the Races

We’re on fire again. Nothing like some good ol’ fashioned government data to pick the market up.

Across the board, stocks are ripping. My inverse etf’s are being shredded. However, to offset them, all of my long are on steroids to the upside. Right here, I like [[CTSH]], [[AAPL]], [[RIG]], [[PCZ]], [[QTWW]], [[BAP]] and [[FMCN]].

As of now, my only short position in the banking sector is [[FED]]. I plan to use this bounce in the indices to expand my bearish bets.

However, much to my chagrin, [[FXP]] is getting its face ripped off, thanks to sharp gains in [[CHL]]. I’ll look to buy more FXP, under $65, if possible.

Finally, the commodity trade is back in a furious way. The interesting this is, they are all shooting higher, despite dollar strength. Apparently, the “global growth” story is more important than the stupid dollar.

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Stupid Jumps to Tech

All of the hot oil/ag money dove, head first, into the retarded shares of tech stocks. I’m talking [[CSCO]], [[NETL]], [[FFIV]], [[RACK]], [[IVAC]], [[NIHD]] and [[QCOM]], amongst others.

Truly, investors are due for a severe beating. The market has been too predictable and is bound to start fucking people. I mean, how stupid do they think we are?

During today’s tape, “The Fly” stormed the corroded beaches of China and banked a little coin in [[FXP]]. My only meaningful setbacks were in [[VSE]], [[COWN]] short, [[PCZ]] and [[PZE]]. All in all, I ended the day up 0.3%.

I must “dehedge” myself, by the way. Due to the gayer than gay run, from March to May, “The Fly” hedged his shorts with a multitude of longs. The result: my beta is way down, disabling me from banking profuse amounts of coin. As you know, this is unacceptable.

Sometime soon, I will place large bets. For now, I’m content with life. I’ll have you know, “The Fly” has a trading hand made from granite and a head made from gunpowder.

Bottom line: my trading results is of no concern to you. Whatever conclusions you may draw from my “Picasso-like blogging” are likely inaccurate, as a point in fact. Just know, “The Fly” remains in a state of victory, until I decide otherwise.

Top pick: [[FXP]]

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Not Raising Cash

I’m over here, sitting in my glorious leather chair, in front of a highly egregious mahogany desk, buying shares of [[FXP]], whenever I look or glance at it.

Also, I’m throwing bombs at my trader/servant. Fucking bombs.


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Fly Buy: FXP

I bought 500 shares of [[FXP]] @ $72.25.

Disclaimer: If you buy FXP because of this post, your neighbors will spread wild rumors regarding your erroneous pending foreclosure. And, you may lose money.

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