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
23,326 Blog Posts

Fly Buy: SRS, DUG

I bought 3,000 [[SRS]] @ $112. I bought 3,000 [[DUG]] @ $38.

Disclaimer: If you buy SRS or DUG because of this post, your broker will buy CDO’s in your account. And, you may lose money.

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I’m Rich!

This is not breaking news, but an expression of joy—considering the “homo hammer” of hell has smashed the teeth out of bullish folk.

Keep in mind, “The Fly” wins—all the time. He may go through periods of minimal returns or even purposeful losses. However, at the end of the day: he wins.

With my money, I am sticking to my death and destruction guns of joy and buying more [[SMN]].

While it’s true, there is a shot we can rally on Monday, I think not.

Instead, on the backs of egregious 10-k’s, I will take profits on my numerous short positions at more advantageous levels, enabling “The Fly” to expand his influence across the internet.

As you know, “The Fly” is the “God-King” of the internet, ruler over third tier bloggers (every blog aside from mine is third tier, fyi).

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Position Updates: LEH

LEH Lehman Brothers Q1 EPS est cut below consensus Credit Suisse, to factor in incremental markdowns against leveraged loan, commercial and residential real estate exposures – Bloomberg (52.71 -1.98)

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Be Careful of the Trap

The new CNBC rumor that the [[ABK]] deal “hit a snag” is a fucking lie. The cocksucking banks have already committed the capital and will be finalizing the deal, shortly. Over the last two weeks, with the friendly help of Gasparino, the consortium successfully propped up the share prices of both ABK and [[MBI]], through a myriad of leaks.

However, since the news became stale, I believe they disseminated some misinformation today, in order to surprise everyone later. In other words, in order to have a maximum effect on the market, they need the element of surprise.

Now that people are somewhat worried about the deal getting done, once it’s announced, they will be “Santa Claus happy” and run the shares higher. If you look closely, smart money sees through this charade, with ABK‘s shares higher on the day.

Also, big bad Warren Buffett will be on CNBC for 3 hours on Monday.

If you have decent profits on new short positions, it may be wise to pare them down a little, in order to give yourself some capital reserves—should we gap higher on old news.

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Elevator Down

Being heavily short, I’d like to celebrate today’s decline by kicking some old dude down and idle manhole. But I won’t.

For the most part, my short positions are at or near cost basis, disabling “The Fly” from participating in egregious unwarranted celebratory actions.

On the day, thus far, I’m up a yatch full of coin, as [[SKF]], [[SMN]] and [[SRS]] print higher. Also, it looks as if Mother Lehman is finally about to die.

Long story short, we are in a tight trading range. with a downward bias. Anticipate, over the next two weeks, many 10-k’s to be filed, with all sorts of market jarring disclosures.

Top pick: SRS

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This Time, Charlie Throws His Meatballs at the Bulls

Apparently, the [[ABK]] “deal” has hit a “snag,” according to CNBC’s Gasparino.

In other news, with futures down nicely this morning, it appears “The Fly” is well on his way to advancing to round two of the Final Four Mad Stocks Contest.

Did any of you really think I’d lose?


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