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
22,662 Blog Posts

A Special Emergency Message from your Government

Hey assholes. Quit worrying about Ambac and MBIA and go buy some bank stocks. We got it covered. All buyers of bank stocks will receive free shrimp and cheddar cheese. And, you may be able to win a flat screen tv.

Remember, we can kill you through bad food, medicine or pollution.

Government UPDATE: I remind you, both Ambac and MBIA are AAA rated.

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A Magical Event

I swear on a stack of newspapers, in no way do I find the rise in food prices to be funny. Having a large family, I can tell you, without comedic undertones, I despise going to the grocery store.

As you can imagine, Mrs. Fly likes to venture off to buy food, snacks and all sorts of beverages, from different parts of the world—mind you. “The Fly’s” pantry and ice box is stuffed and stacked with delicious delicacies from Beijing to Guayaquil.

Quite honestly, as opposed to outright lying to you, this blog post you are reading will not help you make money. Shoot, it won’t even assist you in losing money, which is now my specialty.

It really is just a ploy to waste your time. Much too often, “The Fly” slaves over his pristine keyboard, giving you things to ponder about, over a nice goblet of wine or filthy cigar filled ash tray. However, for today only, there will be none of that. Just plain ol’ waste your useless time on the internet, yet again.

I look forward to having these discussions, and more, sometime soon.

Hip-Hop UPDATE: A special song for the [[MBI]]-[[ABK]] bag holders.

[youtube:http://www.youtube.com/watch?v=WQbHAY1VSj0 450 300]

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The Glass is Overflowing with Joy

Here we go again. [[FXP]] is officially being deballed this morning, thanks to the heavens bestowing great equity surges in [[LFC]] and [[CHL]], amongst other Chinese related names. This is truly a hex on “The Fly,” as he meanders around—shifting from one land mine to the next.

Sure, [[ABK]] and [[MBI]] are done, but who really cares? The mortgage insurers are old hat. Ag plays are retracing, particularly [[MOS]], [[POT]] and [[MON]], but I’m sure it is a temporary phenomenon.

In short, I have no choice, but to swallow my courage pills and buy more (slowly) of that God forsaken double inverse ETF from hades.

It is now near its 52 week low.

In other news, all airlines are going to be bankrupted in 2008.

More good reasons to buy stocks.

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Late Night Thought, part II

Stocks are rip roaring cheap, son. Go get some.

Personally, I have narrowed my buy list to stocks that are up 50%, over the last 3 weeks.

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Wake Me Up When the Market Opens

What a boring day. We have crude at $120, the dollar at new lows and food shortages in Japan, yet retards with cash feel it is necessary to buy stocks.

I must tell you, this is a very frustrating market. However, knowing the eventual outcome, aware of the inevitable fate of the market, keeps “The Fly” determined to add to his burgeoning short positions, without fear.

The market leadership is exhausting itself. You cannot have stocks like [[MON]], [[CF]], [[POT]] and [[MOS]] march higher, without pause. As strong as the sector is, it is extraordinarily overextended.

In addition, many tech stocks, like [[AAPL]], [[RIMM]] and [[GOOG]] are out of control expensive.

On the other hand, there are some niche plays that are cheap, like [[EMC]], [[VMW]] and  select Chinese lottery stocks like [[GSI]] or [[GU]].

In short, the market is back to normal trading. The likelihood of a sudden sharp drop is limited. However, the easy money has been made. From here on, I suspect the market will be a stock pickers haven, or death nail to those who are unable to move quickly.

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The Plutonium is Back in the Time Machine

I do not think I am right about the direction of the market. I know it.

It’s only a matter of time when reality sinks in and people realize they were buying retarded stocks, at fucktarded levels.

Go ahead, look back at the years when the markets sucked wind. Following abysmal January’s, there is ALWAYS a run from March-April. However, they always fail, as grey matter activates cogent thinking.

Look you, I do not need to pound this drum, for it is here to make me rich—not you. However, I will tell you, with the certainty of a genius amongst Congressional misfits, we will trade down between 10-15% in 2008.

With that being said, I will remind you of my game plan:

Bet against stupid furry boots, via short [[DECK]].

Bet against dumb people who work at banks, via [[SKF]].

Take advantage of commercial vacancies, vis [[SRS]]

Bet against China, especially before the Olympics, via [[FXP]].

Bet against weak casinos, via short [[MS]] and [[LEH]].

Bet against hedge fund managers chasing performance, via short [[POT]] and [[MON]].

Bet against Cramer and his inferior website, via short [[TSCM]].

Any questions?

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Children, Prepare to Die

“The Fly” is coming and he’s after your money. Lock the doors and hide in the kitchen cabinets.


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