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
23,326 Blog Posts

Christmas Has Been Canceled

Can it be this simple? The Turkey Gods are gone, so now the market shall plummet into a deep abyss?

I knew short sellers would lean hard on this market at the first sign of weakness; but this is ridiculous. What’s even more ridiculous is the tepid spike in FXP.

Call me crazy, I think it’s too late to sell, following a quick 5% dump out. As you can see, the market is like a funnel, with a wide entrance in—-but woefully small exit out. Across the board, people are panicked at the first sign of weakness, which makes this fucker of a market incredibly hard to stay long— for a duration longer than a few days.

Nonetheless, with my money, I will sit and watch, instead of cashing in my chips.

NOTE
: I am not buying, since that would be stupid. I just need more time to evaluate the tape. And, because FXP is such a laggard, I may buy more, just in case.

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UPDATED: iBC Welcomes a New Tabbed Blogger

I thought the name “WeeklyTA” was nonsensical, especially since he does technical analysis daily. Plus anyway, since I’ve decided to give him a tab, that fucker needs to be reborn, in an odd/internet sort of way.

I give you “The Chart Addict,” not to be confused with other addicts that surf the interwebs.

In my opinion, technical analysis is equal to burning incense, while playing with a Ouija board, then calling it “magic.”

However, The Chart Addict is quite entertaining, young, and seems to be on his game, unlike Howard. I think he can help stop some of you morons, from feeding the recession demon large stockpiles of cash and coin.

In other news, people are getting bearish again. Watch for those people to dive headfirst into the recession pool, at the first sign of weakness. Much to their chagrin, “Santa Fly” has populated the deep end with hungry alligators, in a very egregious/demonic sort of way.

More on this later.

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You Can’t Beat Me

Up another 3.64%, despite sleeping in, drunk, hungover.

In short, “The Fly” closed out the much celebrated, often doubted, Turkey Rally at new all-time highs, up more than 80% year to date.

Off to go support this bitch of an economy, via egregious purchases at BBY.

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Prophecies of “The Fly”

In the year of The Ox, The Great Panda shall be laid to famine and fire. Through pestilence and iron, may the necessitous beg for cheese and bread. Through wit and wile, the less fortunate shall be suppressed to conscription.

In the year of The Tiger, The Red Deer shall burn under a cloud of administration. Inasmuch, The Eagle will fall and shall be cast aside under the sharpest blade, delivered by the affluent. Through dirt and rubble, The Great Satin shall rise again, after titanic expense to the hoi polloi.

In the year of The Rabbit, The Barcelos Cock will undergo disease and black smoke, while the rest of Europa shortens by a lifespan of 10.

In the year of the Dragon, The Snow Leopard shall be laid to waste by unseemly powers, using cold steel and machines of destruction and fire. The Bear and The Langur shall starve under assailable defenses, whereby the city walls shall fall and a new evil will emerge.

Developing…

UPDATE: Listen to the music below, while reading “The Prophecies of The Fly.”

[youtube:http://www.youtube.com/watch?v=2jgtAby2ZP0&feature=related 450 300]

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The Gods Bestow Splendor

Forget about what you want to happen; “The Fly” will inform you of how it’s going to be.

See, ever since young, the stock Gods blessed me with large capital gains. My stock career started off with a large boom, turning 6k into 250k.

Many of you little men are unable to fathom such occurrences, since the Gods ignore you and your wretched ways. Your shirts are made from burlap, and your pants from velcro.

My gains in C are approaching reprehensible joy. However, gains in other similar items are not far behind.

See kids, that’s what “The Fly” is all about—finding shit out then banking coin off of it. While some of you keep trying to escape the limitations of your inferior DNA, I must tell you, with great disdain, “The Fly” is better than you.

He is better, not just because his wallet is fatter and his IQ is higher. No.

He is better because he doesn’t fall for infomercial gimmicks, like “The Magic Jack,” or buy stuff from Billy Mays, even his new health insurance gig.

For first time ever, The PPT (my premium analytic engine) is spitting out a buy rating for the entire market. Moreover, it’s worth noting, many names are still trading near net cash, like PCR, KBR, NTGR and even GU, just to name a few.

My guess, we trade lower on Friday, then gap higher on Monday, following less-than apocalyptic retail sales data.

Regardless of your market position, take time out to appreciate the positive aspects of our meager existence and drink it up for the Turkey Gods.

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Bull versus Bears

[youtube:http://www.youtube.com/watch?v=tS6VRfJbI4c 450 300]

NOTE: Devildog is in the front, with her fucking leg hanging out.

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Making Many, Many Moves

I sold 100,000 C, in order to lock in quick profits and to free up cash. I will hold the remainder, indefinitely.

I have been peeling off my UYM position and will likely be all out, sometime early next week.

I sold a little GE, since it’s behaving sluggish; but still hold more than 75,000 shares.

I sold out of my entire TNA position, for a 60% one week gain.  That fucker is too crazy.

I bought a little more BAC and M.

I initiated two new positions: both are cash rich and appear to be cheap– GU and KBR.

I have not added to FXP and consider it a fucking writeoff at thise point. However, my sentiments can change, within minutes, as you know.

Oh, I also bought a little TBL (almost forgot!)

My feelings, as always, I will murder them all.

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