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
23,326 Blog Posts

Fly Buy: SKF

I bought 1,000 SKF @ $100.

Disclaimer: If you buy [[SKF]] because of this post, inflation will be the cause of your future divorce. And, you may lose money.

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Waiting Around for a Bounce Can Get You Shot

It’s sort of like waiting for a bus, in a really bad ghetto—always a bad idea.

With [[GS]] numbers due, “The Fly” has zero interest “playing a bounce.”

This is serious business, ladies and asshats. Instead of getting all confident, buying dips and shit, why not play a few games of chess or darts?

Right now, I’m setting up for a worst case scenario, which I anticipate to occur early 2008.

Top picks: [[SKF]], [[FXP]]

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Wait, Then Shoot

With the possibility of a rally brewing, I will hold off on any inverse ETF buys, until 3:30.

No market goes down in a straight line, as do-gooders throw good money at bad.

For the most part, the ag sector is the only sector worth investing in, with nice momentum in [[BG]], [[MOS]], [[CF]], [[AGU]], [[POT]], [[ADM]] and [[VMI]].

Currently, I hold a sizable position in VMI.

Watch the financials. Should they continue to rally, there is a better-than-average chance the market will turn its “homo-hammers” on the bears.

UPDATE: Fuck it. Go ahead and shoot.

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Bottomless Market

Thanks to crazy people, some of the beaten up financials are bouncing today, led by spikes in [[ABK]], [[RDN]] and [[NCC]].

With the current strength in the financials, “The Fly” will sell them short again, via [[SKF]].

The only real/non-bullshit moves can be found in the refiners, specifically [[TSO]], [[VLO]], [[DK]] and [[ALJ]]. Additionally, wheat prices are at new highs, as inflation infects the economy like retards on a yahoo message board.

Basically, I’m bearish on the markets. There are too many negative headwinds to deal with, mainly thanks to the inaction by the Fed.

Many of you, from the non-luxury of your bullshit pleather chairs, will cite inflation data and use it as an argument to destroy the world. That’s fine. However, I am far more fearful of deflationary forces, which if left alone can leave 2/3rd of you retards without adequate food supplies (“The Fly” likes to exaggerate on Monday afternoons).

In short, I am not selling my [[FXP]] position. I will be buying more SKF, while selling down more of my long positions.

If my time machine is somewhat accurate, the market is going to get its whig pushed back, during the first few weeks of the New Year.

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Embrace the Bear

Asia getting its head sawed off. “The Fly” is officially bearish. Hollywood ‘Shedder is giving away, bullshit/low-end, books.

NOTE: Unlike Howard, I think Kiva is a scam and very gay, similar to those Nigerian email solicitations. I’d rather throw money at homeless American men, than have it go for “good” overseas.

UPDATE: In an effort to compete with “Hollywood ‘Shedder’s” low-end book give away, “The Fly” will dispatch a cool weapon. First retard to accurately predict how many bowls of oatmeal “The Fly” will throw at CNBC tomorrow, wins the below “prize.”

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