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
21,075 Blog Posts

Burn It All Down, Girls

Redemptions forcing selling. WFC‘s CEO comparing this market to the “Great Depression.” Doug Kass going bullish.

I could go on.

This trade is too fucking easy. Buy the close– sell the open– short the afternoon.

Repeat.

Look you, don’t do what I do. It’s past “funny sell off.” This is serious business. The last thing I want to do is contribute to the subprime housing crisis, via subprime internet stock picks.

With all the topping action in leadership sectors, it’s dangerous to buy here.

Me, I’m like that Astor guy in the Titanic movie, drinking rich man’s whiskey, as the fucking boat capsizes.

However, I will say, RBS looks like shit on a spindle. I hear some fucking “shoes may drop” on them.

Good. Braveheart cocksuckers.

In closing, the trend is broken. Don’t chase stocks down, while the floor keeps being lowered. In a serious recession, most of your stocks will be 20-50% lower, from today’s close.

Off to eat hot dog skins.

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Fly Buy: LFT

I bought 4,000 LFT @ $23.03

Disclaimer: If you buy LFT because of this post, China will buy your mortgage. And, you may lose money.

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Quick Alert: Periscope Up

The fucktarded CEO from Wells Fargo, John Stumpf, just felt the need to exclaim: “We have not seen a nationwide decline in housing like this since the Great Depression.”

Thanks fucker.

Going lower.

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Deadbeat America

So, thanks to a plethora of overzealous bankers, coupled with credit card dependent dreamers, we get a bear market.

Am I missing something?

As a result of the criminal lending that took place, RIMM, AAPL, VMW and the entire fucking DOW is going down the empty elevator shaft.

Some of my ‘smart friends,’ who are bearish, point to the huge miss at JCP. I replied: “who the fuck shops there anyway.” I guess the same fucktards who bought a $750,000 house, with an annual income of $75,000, who is about to get foreclosed on.

Looking at the financials today, I feel like throwing it all on the kitchen floor, then burning the house down.

Big losses are abundant in NFI, DSL, FED, CORS, CCRT, LAZ, MS, etc.

Across the board, there is carnage amongst momentum stocks, like VMW, EJ, POT, CF, RIMM, DRYS, TNH, etc.

In short, I find it increasingly dificult to fight this tape. As you well know, ignorantly placing long trades, over the last 4 years, has led to “big dicked” gains.

However, the longer this shitbox of a tape continues to melt its most fervent longs, the greater chance it will continue to slide.

I bought a little stock today, but nothing meaningful. Should this trend continue, I suspect “The Fly” will turn foamed mouth bearish, looking for the next CWTR to shit the bed.

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Fly Buy: RIMM

I bought 500 RIMM @ $104.28

Disclaimer: If you buy RIMM because of this post, your discount brokerage firm will file bankruptcy, effectively putting your bullshit account in escrow. And, you may lose money.

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Fly Buy: VMW

I bought 500 VMW @ $82.90.

Disclaimer: If you buy VMW because of this post, wild Romanian goats will eat your harvest. And, you may lose money.

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Don’t Fuck with MVIS

While many of you assholes sold with a three handle attached, “The Fly” kept his hand steady, knowing that he was much smarter than you.

We’re going to CES ladies. The company (MVIS) is going to have a kick-ass device, that can change the way people view mobile content.

And you sold with a three handle attached?

Asshats.

Aside from MVIS pleasantries, VMW, RIMM and BWLD are lighting my balls aflame.

There’s nothing cute or funny about this tape. It fucking sucks.

Forget the dip buying. Apparently, it’s a losers game.

Instead, give into the current trend, via going long big ol’ boring stocks, like PG, CLX or CL.

Finally, it’s worth mentioning, “Dollar Danks” (iiG) and FUQI are on the move.

Coincidence?

I think not.

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