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
23,608 Blog Posts

13,000 Here We Come

According to the latest crude inventory report, we don’t have enough oil—coming in a tad under 9 million barrels short.

Fucking shocker.

On that news, the market is ripping higher.

Just face it, the market wants to go higher, regardless of the news. Once again, the market has morphed into a magical “pricing in” machine, where all bad news gets “discounted” and good news is treated as a surprise.

If you want to short a market like that, good luck; you’ll be out of the business in no time.

At the top of my buy list are two financials: [[BAP]] aka “The Bank of Cocaine” and [[AIZ]].

Also, you have to love crude here. I’ll stick with [[PCZ]], [[PZE]] and [[FTK]]. Also, on the news of a secondary, [[ARD]] is getting punched. Wait for it to stabilize, then buy it. It always comes back.

Don’t look now, corn is getting hit again—falling under $590. Should the drop accelerate, while ethanol remains high, “The Fly” will be buying [[VSE]] and [[AVR]] with both hands.

One of my spec/lotto plays, [[QTWW]], is behaving nicely. Frankly, I could care less about the fundamentals. It’s all about price action with bullshit stocks.

Finally, I am shocked to see [[BWLD]] going higher everyday. I thought the economy was in the shitter? Conversely, “Burrito King,” [[CMG]], has been getting slugged on a daily basis. It’s almost as if the two companies switched ticker symbols or some shit. It seems odd or unnatural that BWLD is outperforming CMG by such a large margin.

Something has to give.

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My Latest Investments

“The Fly” is an avid investor, in all things that have potential to appreciate in value. My latest and greatest investments are in the food space.

Like baseball cards, unbeknownst to many of you uncultured type, food is a very popular amongst investors.

Here are a few of my latest buys from my local “food show”:

1987 Snapple Iced T (rookie) (Gem Mint)

1971 Danish Maid Butter (Factory Sealed) (Excellent Condition)

1934 Old Dairy Farm Milk (Bottle) (Fair Condition)

1909 Old Hat Cottage Cheese Company (Case) (Poor-Fair Condition)

1886 Coca Cola (case) (Gem Mint)

As you can see from my above investments, I am sitting on a gold mine. Some of my other recent investments include: corn on the cob, antiqued mushrooms, spaghetti, hand crafted lasagna, orange juice and my favorite uncut sheets of seaweed.

Being that food is going up in value on a daily basis, I expect to retire a very wealthy man, sitting on mountains of vintage cottage cheese cases and sticks of classic butter.

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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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