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
23,406 Blog Posts

We’re in Stupidville, Again

Okay, it’s time to consider the possibility that fucktards are indeed running the trading turrets, unable to read news clippings or financial statements.

The market should not have traded up today, but it did.

As a result, I will look to overweight some longs tomorrow, providing today’s pattern persists.

On the top of my list, is the “Bank of Cocaine” aka [[BAP]]. And, as you already know, I like a variety of oil/gas stocks.

With regards to my shorts, I will add to [[FXP]] and [[SRS]], only on dips. And, I am keeping [[FED]], until the turd hits single digits.

All in all, today was a MASSIVE win for the bulls. If we are to follow the recent trend, the Dow will retest 13,000, yet again.

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More Squeezes

Shorts are scrambling here, covering their bets in a variety of bank names. As you know, I covered most of my bank shorts yesterday, with exception to [[FED]].

I’d wait for a bounce to nail the banks again.

In other news, [[HANS]] looks good here, based upon a potential [[BUD]] buyout.

But, by far, the best looking stocks are in the oil/gas space. My favorites, right now, are [[PCZ]] and [[FTK]].

And, don’t forget, the ethanol plays are working, in a very quiet way. There, I like [[VSE]] and [[AVR]].

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Position Updates: LEH, FED

If you have been in a cave all day, rumors are swirling that [[LEH]] needs capital.

Unfortunately, I only have a small short position left. I kept some as my “Hail Mary” play, hoping for another Bear.

Oh, and, [[FED]] is going to hell in a hand basket.

Good reverse times.

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Banking Coin is Easy

This market is easy to trade, providing you stick with the trends. It’s easy to fuck up when you over think a trade or a strategy.

For example: Oil at these levels defies logic. Yet, just giving into the fuckery has made oil longs very happy, over the past 6 months. The same goes with ag.

As you know, I was shorting ag related names, with great vigor, only to book a quick 25% loss on [[SMN]] and hold an unrealized loss in [[POT]]. Obviously, shorting ag was a dumb, pedestrian like move.

For the most part, being short financials/long commodities has worked, with God-like efficiency. Why should that trade reverse?

Until it does, I have no problem with pairing my bank shorts with oil/gas/ethanol longs.

The following financial stocks can’t get out of their own way:

KEY, ABK, RF, FED, WB, WFC, JPM, LEH, MER, MS, GS, FITB, STI, FHN, CORS, DSL, BPFH, CRBC, UMPQ, SUSQ, MTB, UCFC, IBCP, ADVNB, HBAN, MII, HBHC, SNV, WBS and HRH.

The following commodity related stocks can’t stop going up:

MOS, POT, CF, AG, TNH, SQM, SYT, MON, VMI, LNN, ANR, BEXP, SWN, UPL, DO, RIG, NOV, HERO, ESV, ATW, COP, SU, MCF, EOG, SD, BTU, ARD, BUCY and JOYG.

Feel free to add your own names.

Bottom line: Why try to outsmart the market, when it is giving you coin, on a golden platter?

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Fly Buy: FXP, SRS

I bought 5,000 [[FXP]] @ $70.85 and 5,000 [[SRS]] @ $86.12.

Disclaimer: If you buy the above ETF’s because of this post, the wood paneling in your office will fall off. And, you may lose money.

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Bear vs. Bull

[youtube:http://www.youtube.com/watch?v=UD9nUK0jGlU&feature=related 450 300]

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Observe

Once again, “The Fly” will make all of you look silly, like a gay giraffe driving an ice cream truck. Much to my chagrin, the banks are on the express elevator down. It appears the pending liquidity crisis is coming sooner than I thought, as evidenced by today’s news from [[AIG]].

At the present, I am heavily short [[FED]], with great pleasure. Also, I may take the “internet advice” of the one called “JakeGint” and sell some [[FITB]]. It doesn’t look much better than FED.

For those of you who believe [[FXP]] is going lower, sell it short. I beg you to do it.

Nothing will please “The Fly” more than taxing your bullshit brokerage accounts and using the proceeds to finance some egregious landscaping project, via “illegal immigrants.”

Take a look at the banks, you fucking faggots; they’re knifing lower. Why?

Well, you will all learn soon, why this crisis is 100x worse than the LTCM debacle of 1998.

At this point, “The Fly” is not able to assist you; it’s too late. The wheels are in motion; the roller coaster is already on the incline, ready to dive.

I’ll have you know, all day, I’ve been preparing for an “exogenous event” via multiple short sales. I must be careful of what I espouse on this stupid blog. But just know, “The Reverse Four Horsemen” is a “reverse money maker,” which includes: [[FHN]], [[DSL]], [[CORS]] and FED.

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Technical Analysis: FXP

This just in:

I employ many people. One of these individuals happens to be a “chart chomping” fool. Every day, he prints out like 10,000 charts and draws ridiculous lines on them.

I tell him: “Hey fuckface, why not wear a Nostradamus style hat when your predicting the future over there”?

His reply, like other “technicians,” is: “I am looking for breakouts of the 50, on large volume, out of a base.”

As you know, this is all rubbish. He, like other “technicians,” just make this shit up as they go along. When their charts work, they say: “classic breakout.” When they fail, they say: “this was an unusual exogenous event. An anomaly, if you will.”

They (chart chompers) believe they have found the keys to the secret treasure or some shit. When in reality, all they are doing is buying shit that is going up anyway.

Hey asshole, when a stock is ripping higher, 10 out of 12 days, it’s not rocket science when it goes up a couple more.

Anyway, “my guy” is telling me: “the FXP looks poised to bust the fuck out. And, CHL looks doomed for a 6 handle.”

I tell you this, with the utmost amount of selfishness, because it fits into my “fuck China” thesis.

That’s all. I just wanted to say that. Now quit reading this and go eat a cupcake, you fat bastard.

UPDATE: AlphaDawg speak the truth. Fuck Chairman Mao and his fucking boxes.

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