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
22,563 Blog Posts

Bet Against “The Fly” and Get Your Face Ripped Off

Go ahead, keep betting against me. Soon enough, you will be forced to hold yard sales, in order to fund your margin calls. [[RIG]] is not going lower, you unwashed leeches.

Instead, it is going to take your face by the ear, then peel off your craniofacial.

For the day, I had muted gains, snapping a two or three day losing streak. Most of my gains can be attributed to RIG, since it is my largest position.

My short positions are still fucked. Nonetheless, I still like short [[VLY]], short [[PACW]], short [[TEX]], short [[VMC]], short [[HDB]] and long [[FXP]], [[REW]], [[SRS]], [[SKF]] and [[TWM]].

In all earnest, do not be shocked or amazed to see an August rally, which will effectively render most investors defenseless for the next leg down. I expect the worst of this tape will show itself from September-November.

As sure as I am sitting here, in this luxurious leather chair (unlike your pleather shit from Staples), the market will make new lows and “The Fly” will reduce all of you other third rate bloggers to rubble and a permanent state of irrelevancy.

The only alternative is total/unconditional surrender.

Developing…

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Get Ready for an Oil Punch

The entire bull thesis is dependent on oil trading lower. I know many bears who hate crude, due to its nonsensical rise, ignoring econ 101 “rules of reason.”

Listen up fucker.

Crude is your friend, especially if you are short the market. Crude is not running on supply/demand or because of dastardly bastardly hedge funds. It is running because it is.

In a world of fuckery, that’s all you need to know.

So, the bulls are pinning their hopes on weak crude and improving credit markets.

It’s a repeat fucktards. I already saw this movie and it ends like this:

[youtube:http://www.youtube.com/watch?v=yMwmqp3GLMc 450 300]

In other news, [[SGP]] needs to go down, because their fucking drugs do not work. I am not a big fan of western medicine, with exception to antibiotics. When I am old, I will die in my house, not in some stupid hospital full of nosocomial infections— just in case you were wondering.

As an aside, the refiners are ripping higher. Right here, I like [[VLO]], [[TSO]] and [[SUN]].

Additionally, I like [[FTK]], [[ARD]], [[UPL]], [[SU]] and of course [[RIG]] and [[NOV]].

In short, it’s time to get short asshole banks again, like [[CATY]], [[EWBC]], [[VLY]], [[PACW]] and [[LEH]], while getting long crude in the most egregious way possible.

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Good News for All of You Hurricane Lovers

Our resident hurricane watcher is hoping “Dolly will suck the pants off America,” via horrendous winds and “ball busting precipitation.”

Inside sources tell me “Dolly” will enter the Gulf of Mexico and punch the mustaches off of many oil rigs.

My personal weatherman says “Dolly is a dumb broad with fake nails and tits, ova here.” He said: “Fughetiboutit. Tell the steers and queers in Texas to wear a rain jacket and keep an umbrella handy.”

Should the storm take aim on the GOM rigs, get long crude and natty, via [[HP]], [[GLBL]], [[UPL]], [[UNG]], [[TXCO]] and [[NGAS]].

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Fly Update and Thoughts

“The Fly” had a long weekend and is in no mood to think. I’ll just shoot first, ask questions later.

My [[VLO]] bottom fish appears to be going well. Under normalized conditions, [[VLO]] can jump 20 points from here. In addition, [[RIG]], [[SU]] and [[ARD]] are rallying—all good things for Senor Tropicana.

[[BAC]]’s fraudulent numbers have exacerbated the ongoing short squeeze. I knew this shit was coming. Too many noobs were short banks, drying up all the shares available to borrow. It looks like the [[BAC]] news may have topped out many of these fuckers. As a result, I sold the [[RKH]].

No more hedges.

My short positions are underperforming, as strength in [[PACW]], [[VLY]], [[TEX]] and [[HDB]] plague me. However, I do have three shorts that are down: [[VMC]], [[HRB]] and [[WABC]].

Ethanol stocks are ripping, yet again. [[VSE]] is my favorite in the space.

Gold is going to break $1,000. You have to love the action in [[DGP]].

My riverboat gambling position in [[CLNE]] is working. I will not sell into this rally. I will hold that stock, through good and tough times, for at least 1 year. It has massive upside potential.

[[GME]] blows. As much as the assholes on CNBC talk “bottoms,” the economy is still in the shitbox. Remember that.

[[FTK]]is about to go open field on you bitches, who are short.

[[DECK]] is next to blow chunks.

In short, the market is trying to straighten itself out. Basic resource stocks are gapping higher, while banks start to fade. That makes sense to me. At the present, I believe there are a plethora of rich bank stocks, that can be shorted. As always, you can go the ‘lazy man rout’ and buy [[SKF]]. Just be prepared to buy more at $120, because you never know what the government is going to say next.

NOTE: As you know, the comments section of iBC was down, earlier today. I turned them off because I have a headache. You fuckers talk too much. Don’t you have work to do?

-The internets never lies.

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Stick With the Long Term Trends

Stocks like [[RIG]], [[SU]], [[ARD]] and [[OXY]] should be bought into this dip, not sold. The current theme is to deflate commodities, while buoying the banks. However, I hope you realize and understand, they are going higher due to short squeezes and they will be using this spike to execute more dilutive financing.

Either way, I want no part of the banks here. There is too much trickery at play. Believe me, it is very tempting to sell them short here. To occupy my boredom, I will commence selling short ‘global growth plays,’ like [[TEX]], [[VMC]], [[GVA]] and [[CAT]].

After the banks recapitalize, it will be time to sell them again. Until then, be careful, for the government will kill you.

NOTE: Many of you have been emailing me about the [[MVIS]] financing. In my opinion, it is a necessary evil. They were running out of money and needed to raise capital. The bullish part about the financing is that it was down with a good firm and will enable them to pursue the commercialization of their products. The stocks is probably a buy, under $2.30.

NOTE II: Veritas5 gives a refreshing look at some possible jackpot makers aka hurricanes.

NOTE III: Wallstrip has a new look and Julie thinks she’s a singer now. ROFL.  Sorry Julie.

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Position Updates: VSE, AVR

I just blew out of these positions for an egregious percentage gain.

“The Fly” wins again, even when most people think he is losing badly.

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A Special Message From Your Government

Hank Paulson, U.S. Fannie Mae Debt Manager, Goldman Sachs

Hola amigos.

Estamos teniendo un partido más de aquí. Venga unirse a nosotros mediante la compra de unos bancos de las existencias, o lo matan a usted.

¡salud!

Hank

NOTE: For you English speaking type, translate here.

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