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
18,972 Blog Posts

Two New Purchases into the Fires

I imagine my portfolio to be a giant furnace heating my tank from which I shoot shells out from and maim people. I need to keep the furnace hot, so I toss new stocks into there on a regular basis — keeping this fucker going. Lots of enemies to destroy.

I just added a little something to my furnace now — AMRS and LABU. Both are medically inclined, one a cure-all for all ailments, a Victorian Era elixir that strikes me as being bold bold and ridiculous. Pot will rot your brains and permit those in charge at your local think tanks — run over you with their DMT addled brains.

The other is LABU — a blanket approach to biotech. Although I am a Dr., I am not a Dr. — if you know what I mean.

Faggots inside Exodus have asked me to tell you that both HALO and ZIOP “look swell.”

And I quote:

“Sir Fly, we beg your pardon. Please instruct the masses of our intention to acquire shares in the aforementioned corporations in order to alleviate any and all selling pressures that might reside in the recesses of its bowels.

Gracefully,

Fucktards Inside the Exodus Pelican Room (Annual Subscribers)”

And now I will collect my fee, a steak dinner, at a grande hotel — as my part in insipidly promoting their piece of shit stocks.

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Rough Road Traveled By the Bears — But It Might Get Better Soon

I am a deeply empathetic person. In spite of my ribald commentary and overtly aggressive way with the reader class — “The Fly” really does care. I care so much, I often root for others — even though it hurts my own interests. Whether I really mean it, or am simply lying to myself is a whole ‘nother topic.

On the important issue of bearshitting and shorting stocks to zero — it appears bulls will be running into a buzz-saw of resistance soon. Knowing this, I sold MNK, REZI and WATT today — all profitable trades. I have a slew of indecorous stocks now — THE SHIT PORTFOLIO — and feel a bit of regret today — following yesterday’s debauchery.

For example, why didn’t I sell FUV yesterday at $7.25, after buying it at $4.09? Up 75% on a day trade not enough? Now the stock is down 23% and I am literally sitting here rooting for something I know nothing about to go up. Soon I’ll probably start investigating the company and determine a long term reason to hold, or at least until it goes back to $7.

Saying all of this shit out loud is important, because now I feel like I already did it and know how stupid it is, so I’ll sell it immediately after publishing this post and book the grave 32% gain and be happy for it.

Oh, almost forgot — start harvesting your gains.

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Gold is Angling Here to Break Out

I’ll be brief.

Gold is in a six year Fag-Box. That’s a fact.

Since October of 2018, it has been trending higher — pausing — then trending higher again. We’ve been trading sideways for a few weeks now and I’m venturing to think we’re fixing to leg higher and get into the 1,325 to 1,340 region soon.

There’s some steam behind this move and no one is pricing in the gold miners for a bull market in gold.

Look at the price to sales valuation for gold in comparison to Basic Materials and how the premium has shrunk considerably. A bull market in gold would look like 2009-2010 at 6x sales.

Top gold picks: NUGT,  SAND and SBGL.

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Added a Little Something to My SHIT BASKET

I am building a SHIT BASKET. Any questions? I told you when my house flooded the fuck out — a magnanimous gain was just around the bend. At first, I thought it was because I owned CYBR and that stock is up 20% today — but no. The Gods had much greater things in store.

Also, my ZUO and triple sized NUGT positions are taking off — but that wasn’t it either.

I came upon a small piece of shit company this morning and seized upon it immediately, with savage qualities. Ticker is FUV and I own it from low $4s.

The stock is now screaming for $7 and I’m up nearly 60% intra-day, with no intention of selling. Gentlemen of my stature do not sell for morsels of money. We require gobs of it in order to festoon our homes with luxuries — bangles and baubles — little fucking asshole trinkets that require zeal to purchase them.

Seeing markets poised to BTFO — did I recoil from the dangers of risk and raise cash? Quite the contrary. I dove into the cesspool of muck and reemerged with fistfuls of shit.

Here’s what I bought into the bell.

FCEL, PLUG, BE, CAAS, and SORL.

The theme is electricity and power generation. This is what Wall Street wants now and I am the weather vane on top of the great grande roof — forecasting great dick-suckings to come. You cannot stop the buying, nor can you ignore it. Everything you think you’re doing is secondary to what I am doing — zipping fast and with alacrity — poised and graceful — both violent and carrying a heavy heart made from steel — immune to the pangs of volatility — because I am volatility.

Good day.

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Congrats: $AMZN Withdraws Plans to Build HQ in NYC Due to Backlash

You fucking morons. This is a perfect example of stupidity on the grande scale, fomenting itself into a cancer that hurts the overall body of people in NYC. I could argue until I’m blue in the face that having Amazon in NYC, with plans to create 25,000 jobs at a median salary of $150,000, is a good thing.

Alas, no good deed goes unpunished and New York FAGGOTS, always complaining about something, actually got Amazon to ditch its plans to build there. I haven’t the slightest idea what the fuck their problem was — but now it’s a moot point. Enjoy the barren wastelands of Long Island City — NY faggots.

“By saying no to Amazon, New York City is essentially saying ‘no’ to any company that would consider coming to the city to do business,” Benaim said. “If we, as a city, reject this deal, we will send the message that New York City is closed for business.

Benaim has been a resident of Long Island City since 2006 and calls himself an “ambassador” for the city.

“If the Amazon deal falls through, it not only effects Long Island City but also New York City as a whole,” Benaim said. “Other businesses won’t be attracted to the area because they will know NYC kicked out the biggest company and rejected the biggest economic impact in the history of the state.”

And that economic impact would be huge. According to John H. Banks, president of the Real Estate Board of New York, Amazon’s pullout would mean losing out on tax revenues, jobs and overall economic growth across all five boroughs.

“From generating tens of billions in new tax revenue, to creating good-paying jobs, to supporting the real estate market, to making our economy more resilient, this project is absolutely critical for New York,” Banks said. “It’s a once-in-a-generation opportunity to position our city and our economy for the future.”

Losing HQ2 would cost Long Island City and greater New York up to 40,000 jobs. Estimated revenues over the next 25 years from a local Amazon headquarters are estimated at $27.5 billion.

Greg Willett, chief economist for property management software firm RealPage, says the move would be more or less unprecedented.

“Turning down the creation of thousands of high-paying jobs is rare, if not completely unprecedented,” Willett said. “Cities generally chase those opportunities, evidenced by the hundreds of initial bids for Amazon HQ2. It’s not unusual for there to be some complaints about the magnitude of incentives offered in attracting big employers, but objections generally don’t come from within the staff of government officials.”

You have a tale of two cities in NY, with the elite comprising of the best society has to offer, both smart and industrious. Then you have the rest of NY, wastrels and malcontents — ordinary plebeian FUCKHEADS. Thank them for your loss, NYC.

My Twitter screed.

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Fly Buy: $FUV, $WKHS

You fucking faggots. I stepped in this morning, based off the missives of a certain TGIR — who found us all SOLO in the $1s yesterday inside Exodus — now in the $5s.

There’s a craze surrounding electric cars now. I’m not interested in holding long term. These are just trades.

I bought FUV in the low $4s, WKHS below $1.10 and I will now wait for my fortune to increase.

As an aside, WATT is blasting off too.

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Futures Dip on Miserable Retail Numbers: Here’s Why They’re Useless Shit

Listen to me very closely. When markets jimmied higher the other day, based on the faux news of Trump avoiding a shut down, a small little company named AMKR posted results. I discussed this in detail in Capstone and I’ll share it with you now.

Amkor makes parts of the smartphone and auto industries, chips rather. They said, heading into 2019, the smartphone market, or at least their exposure to it, undertook a disastrous 30% drop in sales. This of course would mirror what the retail sales out today just communicated. Additionally, they said one of their auto clients was undergoing an inventory correction — which should last until the second half. Initially, the stock fell 9%, but then quickly recovered and traded sharply higher based on the following comments.

I’m paraphrasing here, so bear with me.

They said their IOS clients (Apple) foresee Q2 as being better than Q1 and the second half even better than the first. In other words, the worst is behind us, apparently. Isn’t that what we all wanted to know — the state of things at Apple?

Could they be wrong? Maybe. Perhaps Apple will update us in March and illuminate a grim picture for us. Or, maybe they’ll confirm what AMKR already told us.

One thing is for certain — markets had already priced in a bad Q4 for 2018, which is why the market melted down. Today’s revelation is old news and not indicative of future results.

Retail sales fell 1.2 percent in December, marking their biggest monthly drop since September 2009, according to The Commerce Department. The department also said retail sales fell 0.9 percent in December when excluding gasoline station sales.

“This number was terrible,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group, in a note. “The US consumer is holding the global economy on its shoulders. After seeing today’s data, we better hope it was a one month outlier and that the rebound in stocks in January and month to date will revive consumer spending.”

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China Smashes Trade Surplus Estimates to Pieces — Boom Time Bitches — Trade War Edition

You might take note that I’ve been especially belligerent in my recent posts — truly cussing a lot and acting indecorous. This behavior, of course, is unbecoming of a gentleman and I’m prepared for the backlash, which is coming soon. But I’ve got to tell you, quite honestly, it doesn’t matter what you think. Your opinions are less than invalid. They run contrary to what truth is and are the 3x inverse XIV, triple lindy version, of authority.

Dollar-denominated exports for the month rose 9.1 percent from a year ago, according to Chinese customs data. China’s exports in January were expected to have contracted 3.2 percent from a year earlier, according to economists in a Reuters poll, compared with the previous month’s 4.4 percent decline.

January dollar-denominated imports, meanwhile, fell 1.5 percent on-year, which was far better than expectations of a 10 percent decline from a year earlier, according to the Reuters poll. Imports in December fell 7.6 percent from a year ago.

China’s overall trade surplus was $39.16 billion in January. That easily topped the $33.5 billion expected, according to the Reuters poll. That was still lower, though, than December’s trade surplus of $57.06 billion.

Well, well, well — look at that, LOOK AT IT — LOOK-AT-IT.

More gains coming. Get long some China plays.

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Shitty Burgers and Electric Rooms FTW

I bought WATT and HABT, both sketchy companies with eye-raising business models. One produces tech that will permit you to WIRELESSLY charge your phone in a room. I imagine this technology to be very unhealthy for human skeletons and major organs — but we won’t know for sure until proper studies are made — 30 years hence.

The other purchase, HABT, is more traditional — a fever for shitty burgers and sloppy fries. Nice fucking candle today. Judging by previous moves, I’d say this fucking stocks, inevitably, trades up.

Over in Exodus, @TGIR fucking nailed this SOLO trade, and although I’m tempted to play it — I don’t want to soil his luck with my obvious downtrodden curse.

See you animals tomorrow.

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