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
22,563 Blog Posts

Pretzels and Hot Dogs

Sure, why not go up a hundred today?

When insanity prevails, reason is discarded like an old banana peel.

For the most part, “The Fly” is not hurt by today’s melt up. My FXP purchase was all done under $71 and SKF is up, mainly due to financial stocks blowing pole.

Unfortunately, I am not a big believer in this rally—considering how dumb and foolish Mr. Bernanke’s beard looks.

But, I’m not selling anymore tech or ag stocks. My only form of defense will come via FXP or SKF purchases. If “The Fly” were to” sell it all,” and the market went higher, he might be forced to sell hot pretzels or knishes, on a filthy NYC street corner.

With my money, I like the oils, ag and networkers, limited to CSCO, JNPR and FFIV.

And, of course, I will use this rally to buy more FXP.

Viz.

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Bernanke Knee Capped Santa Claus

There is not much to say, yet again.

“The Fly” will not be tricked more than once. It is scientifically impossible, as you know.

During the day, I sold loads of stocks, specifically VMI, VMW, SPF, CFC, ACF, GLF, FTK and RS.

Additionally, I stepped up to the fucktard plate and bought more FXP—and initiated a position in SKF (inverse financials).

Basically, Ben Bernanke and the Fed fucked Christmas. Sorry for the truth, but it’s useful—from time to time.

The silver lining: with today’s 300 point drubbing, we may get a sympathy bounce.

Use it to sell, then sell again.

Viz.

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Fly Buy: SKF

I bought 5,000 SKF @ $91.50.

Disclaimer: If you buy SKF because of this post, the Fed will become ever more oblivious. And, you may lose money.

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Fade the Fed

The Fed dropped the ball.

I’m taking profits on a variety of names, which have run up in recent weeks.

With the proceeds, I’m “betting against China,” via FXP.

No one is happy with the fucktarded statements by the Fed. They’re oblivious to the real risks in the system.

Do yourself a favor, take profits, relax—then eat a sandwich.

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Fly Buy: FXP

I bought 2,000 FXP @ $70.

Disclaimer: If you buy FXP because of this post, Greenspan will take over the Fed, yet again. And, you may lose money.

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