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
23,147 Blog Posts

The U.S Treasury Will Default

China is shifting policy from plowing reserves into forex to investing internally. At the same time, our government is jacking up spending by the trillions, in order to artificially prop up businesses. Quit frankly, where the fuck is the money coming from?

We are a debtor nation. Without the support of foreign government buying our notes, we will default. The reality of higher taxes will come to fruition, because of necessity, not choice.

Of course it’s easy to get all doom and gloom, as the market knifes lower. However, look at the bigger picture. World growth is slowing to a standstill. Domestic employment is through the floor boards and America, individually and as a whole, are insolvent.

Sure, we can print more notes. The expense will be great and the pain will be ridiculous.

With that in mind, long term, shorting treasuries, via [[TBT]] , is a dunk shot bet. Eventually, rates have to go up, in order to entice investment.

In the meantime, hedge up or face certain financial death.

Barrons has a good read about America’s dicey line of credit.

UPDATE: Last bull surrenders.

[youtube:http://www.youtube.com/watch?v=JlAUdPTr6ZI 450 300]

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Change is a Comin’

“The Fly” is into change now—big time. I want to change the landscape of my neighborhood, via buying my neighbors houses in foreclosure and converting them into petting zoos or safe houses for big booted clowns.

I want to change the internets, forcing third tier bloggers into destitute squalor. I want to destroy certain teevee celebrities, via debanking them in the most inhuman “Peal Harbor-esque” manner.

Plutonium Petey is all about doing the things mentioned above, while at the same time offsetting all of that bad karma, via helping you sloppy retards bank coin in the market.

All of you fuckers owe me at least 50 hours of community service. Do not be surprised if you get a notice in the mail, summoning you to place orange cones around my neighborhood or clean my windows.

As you read this, you’re thinking “asshole, how about talking about the market, eh? Ha, asshole, what should I buy”?

Well, if you are going to take that sort of tone with me, I say: fuck you. No stock picks for you!

What? You apologize?

Too late, goat fucker.

“The Fly” has many enemies and many battle scars, through years of hand to hand combat with these egg heads, to prove his valour [sic]. Which reminds me, I am planning a trip to Africa, in order to murder some elephants and other “precious creatures,” in order to make an ivory key chain. Fuck animals.

Finally, if there is anything you blue collared type should take from this post, it is: oil is leading the market lower and to never insult Senor Tropicana, even if it’s merely a “thought crime.”

Top picks: [[FXP]] , [[EEV]] and short Petrohawk Energy Corporation [[HK]]

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Melt Down

I am very close to disabling the comments section altogether, for you fuckers are making me sick.

Quit talking shit. This is not the yahoo message boards. This is a place of honor and class. Act accordingly, fuckfaces.

As you can see by today’s tape, the world is coming to an end. With oil sub $60, I am dancing on the graves of the Texas Tea makers and Saudi sheet fuckers. Even at these levels, I like the prospects of [[DUG]] going higher.

One thing to note: only pussies stay in cash. So, with that being said, should you find yourself in cash, you know what you are.

Finally, for some odd, mystical reason, [[FXP]] is barely up. I say: shenanigans! Lean on those fucking Chinese names, including China Life Insurance Company Ltd. (ADR) [[LFC]] , China Mobile Ltd. (ADR) [[CHL]] , PetroChina Company Limited (ADR) [[PTR]] and China Mobile Ltd. (ADR) [[CHL]] , regardless of what metrosexual men on the goggle box say. That fucker, as sure as I am sitting here, will print $100 by Thanksgiving.

NOTE: I have multiple wins today, with zero losses.

NOTE II: Petrohawk Energy Corporation [[HK]] to single digits.

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Asshat of the Week Award: Tim Seymour

Tim Seymour, Asshat

Watching a replay of tonight’s Fast Money, I discovered a man well deserving of the Asshat Trophy. The “King of Russian Equities,” proclaimer of all cheap things in Asia, Tim Seymour, disclosed he was long my enemy, [[FXI]] , in a most egregious fashion, if I might be so bold as to say so.

First of all, the name “Tim” gets no points with “The Fly.” In the 32 Godly years being alive, I have yet to meet a man/woman named “Tim” that was not deserving of an “apple pie sandwich” to the face.

Anyway, Tim, from Seygem Asset Management, was rambling on about how much those Chinese bastards are liars (I am paraphrasing), while acting in a very “cocaine-ish” type of manner, if you know what I mean. Tim said many great things about how gay the Chinese market/economy is and was, much to my delight. I’ll have you know, “The Fly” was warming up to this Tim guy, while wolfing down junk food.

However, in an odd twist of Chinese fuckery, something that cannot be explained using the laws of modern science and/or reason, he (Tim) then proceeded to disclose (in a very deliberate slow motion sort of way) it might be “worth a shot” (again paraphrasing) getting long China in huge gay ways (paraphrasing, yet again), down at these ‘tard levels. Then some little breaking news flash thingy raced under his name, disclosing he was, in fact, long [[FXI]] .

(Gasp for air)

I stopped eating my potato chips. Suddenly, I became enraged with the joy of knowing that sometime soon, I would relish in the opportunity of destroying this man named “Tim,” with all of my frantic/over caffeinated might and superior intelligence quotient, without ever having to meet him—which is mildly “chagrinful.”

See, young lads, I shall buy [[FXP]] (the opposite of FXI) until the “white flag of certain surrender “is perched upon his ass backwards Russian automobile. I shall rub it in, mind you, until Mr. Tim shaves his full head of hair off, due to extreme shame.

There shall be no quarter given to this man, even if he happens to legally change his forename to something other than “Tim;” he shall receive the ever ominous, yet risible, black flag.

So Sorry.

Oh, and he also gets an Asshat of the Week Award.


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Here Comes the Magik

Here comes the Treasury and their bag of market tricks. Do not trust the cheese makers, for they will rip out your soul and force you to mine coal in western Pennsylvania.

All of a sudden, the banks are willing to work out mortgages, in order to stem the foreclosure tide. However, all of these efforts will fall on their face, once the home owner is out of work.

This is what you need to know:

The market is severely oversold, but appears to be unable to snap out of its state of fuckery.

Oil gapping lower like this is incredibly bearish for oil service companies, more specifically rig/parts makers. Also, expect to hear of many canceled exploration projects, due to it “not being worth it” anymore.

As an investor, you have a choice to make, which is: go long and hope that the market bounces until turkey day. Or, follow the downward momentum lower and believe that the worst case scenario will come to fruition. Or, you can coward out and go to cash.

Personally, I want to be optimistic; but it’s hard. Every time I get all giddy and shit about kicking old men down open manholes, the market reverses course and poleaxes my long positions. At the present, I have little in the way of long positions, but a lot of cash.

Emphatically, I believe [[FXP]] , [[EEV]] and [[DUG]] are going higher. However, at the same time, the banks are way oversold here.

At the end of the day, it’s all about managing risk and making sure big losses don’t get big and taking profits, when you can. For now, I believe there is still more risk to the downside than getting squeezed out of my shorts, due to an egregious turkey day rally.

UPDATE: I bought 2,000 [[DUG]] @ $38.35 and 1,000 [[EEV]] @ $86.45.

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Down the Rabbit Hole

The “Thanksgiving Rally” has been postponed. In its place, I offer you a General Motors Corporation [[GM]] bankruptcy and all of its trimmings.

See, it’s not just about General Motors Corporation [[GM]] and Ford Motor Company [[F]] going away. It’s about AutoNation, Inc. [[AN]] , Cummins Inc. [[CMI]] , Johnson Controls, Inc. [[JCI]] and a variety of steel manufacturers going with them.

My feelings, as always, is to kill them all.


The code has been identified and removed. My guess, one of my enemies, like Tim, put it on the site. Seriously, when I find out who did it, I will be reporting your dumbass to one of my contacts at the FBI. Then, I will find out where you live and break your jaw.

As for the market:

We are going down. If you like money and all the cool things that come with having some, I suggest selling some longs and hedging up.

My favorites, as you know, are [[FXP]] , [[REW]] , [[EEV]] and [[DUG]] . Oh, I also think Petrohawk Energy Corporation [[HK]] is going to single digits too.


A view of The iBC 1 Year Anniversay Party (the long deck):

[youtube:http://www.youtube.com/watch?v=MVFMLQ7dmro 450 300]

My party is a lot better than that.

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This is My Market

Pardon the technical difficulties over at iBankCoin this morning. One of our IT guys, Vincenzo, was so happy over our 1 year anniversary, he accidentally spilled his entire bowl of gravy with raviolis on the iBC servers. Since then, he has mopped up the mess and I have ordered him to keep his fucking gravy out of the cold room.

Fucking bastard.

The stock Gods have spoken. As you can see, they favour [sic] “The Fly” and his staff, via gifting us with a market crash on our 1 year anniversary. If I am correct, they will weigh into that son of a bitch Petrohawk Energy Corporation [[HK]], with the might and vengeance of 100 thunderstorms, and bring that fucker under $17.

Some people trade really well in up markets. Others do great in down markets. Plutonium Petey knows how to game all markets. However, he does especially well in insane markets. It just meshes with my personality. What can I say?

With my money, I will short more Petrohawk Energy Corporation [[HK]] and get long more [[FXP]] , in size. That little bullshit Chinese run is over, you little fuckers. Do you hear me?

On the back of General Tsao, “The Fly” will catapult his year to date gains north of 100%, effectively enriching him to the point of extreme laughter.

Amidst all of the incense burning in “The Fly’s” office right now, he believes oil is fucking itself. You, the internet leech, might want to take a good long look at [[DUG]] .

: I bought 5,000 [[FXP]] @ $76.55 and 2,000 [[DUG]] @ $40.15.

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Happy Birthday iBankCoin

1 year anniversay coming tommorow. The vast success of this site could not have been accomplished without “The Fly” and Senor Tropicana.

Oh, and those other guys are pretty cool too.

Festivities pending.


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