Bulls Are Running Out of Time

It really is a waste of time, waiting for [[POT]], [[MON]] and other ag plays to top out. Especially when the financials are ATM machines for the shorts.

With oil above $111, it’s game over for [[DCR]]. What a scam. Should oil close above $111 for three days, DCR will be liquidated. Lawyers will have a field day with the this one.

As for me, I like [[SKF]] and [[SRS]] down here.

NOTE: Another Fly short, [[DSL]], appears to be heading to zero too.

With the financials scheduled to report earnings this week, I like my chances betting against them, particularly [[FED]]. Hopefully some of you leeches shorted some FED near $30, like “The Fly.”

Finally, the market is holding up fairly well, as the bulls hold onto their optimistic sunglasses. Heck, they even got a merger of losers today with [[BBI]] and [[CC]]. Without being too clever, I will tell you time favors the bears. There will be more writedowns and significant earnings short falls this quarter.

One big dice roll: short [[IBM]] into earnings.

I’ll have you know, “The Fly” keeps a hideous blue radio in his kitchen, much to Mrs. Fly’s chagrin.

This radio has a broken antenna, broken CD door, held together with blue tape, and looks like its been punched in the face a few hundred times.

See, once upon a time, the radio was rather good looking, despite not matching with Mrs. Fly’s granite and steel kitchen paradise of luxury. However, after listening to many “short end of the stick” NY Met games, often times “The Fly” would rip the fucking radio out of the wall and beat it like an Iranian shoplifter.

Naturally, shortly thereafter, I’d make up with my little blue radio and place it back on the counter and listen to its scratchy, low grade audio.

However, Mrs. Fly’s attitude towards this “apparent eyesore” grew by the second. After the CD door “accidentally” broke, she started throwing it away.

As you know, she underestimated me.

Much to her chagrin, “The Fly” would fetch this gruesome blue radio out of the garbage, garage or closet, clean it off, then place it back on the counter—in order to listen to more losing NY Met contests.

This radio has been the root of many debates at Flydom, as Mrs. Fly and I jockey back and forth, “debating” the fate of the antenna-less blue radio. Basically, she throws it out upon sight, exclaiming: “go buy another one. This thing is disgusting.”

I do not agree.

See, the blue radio and I have a lot of history. Granted, it is unable to pick up any music channels or play a CD anymore; I am still loyal to it.

It picks up like 3 AM channels. That’s all I need. Fuck it.

So, the point of the story is this: if you want to get into heated, meaningless debates with your wife over “artsy” kitchen decor, place a monstrous blue radio on top of the counter, which is held together by tape (attached is a real pic of my beloved radio).

After all, we’re all blue radio’s, to a large extent, excluding “The Fly” of course.

UPDATE: The Godly folks from iBC have put a new comment feature on the site. Check it out on the right hand side. It will list the 10 most recent comments, from all iBC blogs.

iBankCoin is better than you.

Behold!

[youtube:http://www.youtube.com/watch?v=j444hTTXXlo 450 300]

I will not discuss today’s tape, for it is redundant.

We are going lower on Monday. Live with it and trade accordingly.

Looking at my email box, I can tell you there is a lot of scrambling for capital at [[MS]]. They are issuing loads of notes, with 10.5% coupons.

Egregious.

The worst I’ve seen is by [[AMD]]. They are offering 21.5% reverse converts. Ha!

Here, take a look at the document.

In short, “The Fly” wins all the time, even when he appears to be losing. Enjoy the recession and long live iBankCoin.

Off to celebrate GE’s demise (biggest one day drop since ’87 crash) over a cigar or two.

This can be a market mover.

I bought 1,000 [[FXP]] @ $80.45.

Disclaimer: If you buy FXP because of this post, termites will eat your house. And, you may lose money.

Developing…

I sold short 2,000 [[MS]] @ $43.75.

Disclaimer: If you sell short MS because of this post, small aliens will eat your vegetable crop. And, you may lose money.

Classic burn out in the ag space. [[MON]], [[MOS]], [[DE]], [[CF]], [[AG]], [[AGU]] and [[POT]] have been bid up without fear, much to the chagrin of those who short them.

However, today is a classic pile in/pile out trade, where all of the scared/dumb money finds a nice safe home in ag, only to see it blown the fuck up by a thermo nuclear device, as bigger money takes profits.

In short, I am not a bear on ag because of fundamentals, only price.

Best case scenario for the sellers, the above stocks spike then collapse, leading to further selling on Monday.

I believe it’s about to happen.

NOTE: Best way to play it: short [[MOO]] or long [[SMN]].

UPDATE: Lehman Brothers CFO Callan says ‘March was a very, very tough month’- Bloomberg