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
23,006 Blog Posts

Setting Up for a Drop

Thanks to the resurgence of my positions, in recent weeks, my year to date gains are more than 15%.

With only a few weeks left in the year, I intend to get all defensive and shit, in order to “not fuck myself,” rank rookie style.

So, I’ve outlined a simple plan, which will be adhered to, with the strictest of rules attached.

I’ll be happy to keep 15%, then fuck around early 2008.

In short, I expect the market to go lower, but hope it doesn’t. To protect myself, I have numerous inverse ETF positions open, effectively balancing out my longs.

In other words, whether the market goes up or down: “The Fly” wins.

Odd, no?

My year is over.

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Fly Buy: FXP

I bought 500 FXP @ $70.51.

Disclaimer: If you buy FXP because of this post, Santa Claus will break your jaw for Christmas. And, you may lose money.

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Is AAPL Eating RIMM’s Lunch?

It’s hard not to notice the recent divergence between the share prices of RIMM and AAPL.

For a long time, both stocks traded in lock step—with RIMM outperforming by a slight margin.

However, since late November, RIMM‘s stock price has plummeted, more than 30%, while AAPL presses higher.

Taking the iPhone into consideration, is it possible the iPhone is eroding some of RIMM‘s retail/pedestrian market share?

If not, RIMM is 40 bucks cheap.

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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.


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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.


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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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