iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,012 Blog Posts

Stingray Shuffle

I’ve been leery of RGLD at these prices for a while, and Fly’s graceful exit was enough for me to take half my position off. RGLD also has a cup-n-handle pattern forming. Seeing how participants react to this homo coffee cup formation will be telling. I drink my coffee straight from the pot and thus lend no credence to anything resembling a coffee cup.

Yesterday I sold LULU in the morning and felt like a fucking piker the rest of the day. After succumbing to the overlay for the underplay on LULU, I called all my Canadian friends and demanded protection money else they find a moose in their bed. I also trimmed off a tiny piece of my ADS while it performs the ceremonial hundred dollar roll.

I want now some small cap exposure. I bought some ENTG, STP, and RTK. I despise these stocks and don’t intend to hold them long at all.

I don’t like the action in the Euro dollar today, and I’m monitoring the situation closely via the six-e. If the currency does roll lower, I may need to do the stingray shuffle into cash and hopefully avoid taking a fucking barbed spear to the foot.

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Appreciating the Rally and Adding to Longs

I like the price action today in WFM and used the recent pullback to increase my position. WFM has room to run here. I’ll trim some off around $72.00 but ultimately I think this stock goes higher, MUCH HIGHER!

The bounce is underway, and anyone who wants to own quality stocks into the yearend now must pay up. I’m still keeping a close eye on the Euro dollar, via the six easy-z’s. I want to see the currency go for a price discovery trip to the upside.

Other than WFM, I added to ADS with an expectation that the one hundred dollar breach, if held, will lead to $115 prices, maybe more. The stock has upside room going into year end.

Remaining positions include RGLD, AWK, GSVC, and a touch of LULU. LULU is not ramping like I want to see yet and may get cut. However, if LULU breaches $50 with some authority, I’m a buyer of strength.

I still have some cabbage on hand, about 40 percent.

Today is the rudder that steers us into the next few weeks, and it appears we go higher.

http://www.youtube.com/watch?v=g72IyGJhdVs&sns=em

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Join Me on The Patio

Step outside the mahogany halls our benevolent Senior welcomes us into, let’s have a smoke and “talk about ‘tings.” New or old to Fly’s fine establishment, you’ve gotta love what he’s done with the place. I for one take great satisfaction in knowing places like iBankCoin exist. Places where gentlemen work feverously and demand the A game, all the time. Here you find fresh content, around the clock.

The Fly, a pseudo character, who’s built a legacy on the interwebs, doesn’t even give a fuck. Honestly. He threatens to wipe any trace of the site off the web and move to Romania or Puma Punku about three times a year, hahaha. I laugh, but when I stop and think about that possibility, well…I would be bummed. I can’t imagine Jake and Chess and everyone going forward, like a disbanded group of highway robbers. Right now we’re like a gang, fucking people up silly with mathematical precision and a touch of brawn.

Enjoy the greatness your surrounded by, and may you leave mediocrity in the dust.

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Taking Cues From /6Ez (UPDATE deux)

Right now it looks like shit. I’m too busy to put charts in my post. Pull up an intra-day. It needs to find support soon to get this market really moving. If euro dollars find support and rip through $1.34 we’ll have ourselves a bona fide cocaine gorilla rampage into the close.

IF /6E stabilizes and begins ramping up during lunch, I’ll get my ADS position on. ADS has pulled back after getting jiggy this morning.

Back to work.

Update: Euro dollar continues its downward trot and appears unlikely to confirm the upward direction in equities. I will hold off any further purchasing until pricing of the euro dollar improves.

Update II (deux): Market squeezed higher at the end of the day and recaptured some key price levels while shrugging off the price action in the Euro. Tomorrow could get interesting if we see some constructive pricing in the /6E this evening in Globex.

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Buy The Open

I shed the SKF hedge Friday and that has me excited this morning as the financials are soaring premarket. My current longs; AWK, GSVC, RGLD, WFM will appreciate on the open, sure.

But my demand is pent up. I want more stocks. I’ve wanted them for weeks. They looked “on sale” last week, but weren’t catching a bid. Now we’re gapping up strong, and it may be short lived, but coin can be made.

I will watch the open for cues, and watch for any pullback and how it’s treated. I don’t want to be a criminal in the eyes of the law (J.C. non Christian). On my wish list are the following stocks:

LULU (selling dope off the iPhone), ADS (hundred dollar roll), WFM (MORE), BWLD (R/C fav)

Are you buying today? Is it a suckers bet? I sure would appreciate any commentary.

Regards,

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Shed The Hedge

Sold my SKFs this morning. The financials are behaving like they know something. Maybe it’s my plush belly full of food or perhaps being in the 6th inning of a major bender, but things look rosy this morning.

I will revisit the SKF post bounce. Because we’re going to bounce, squeeze, pump, and MORE!

It’s black Friday and shits on sale.

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Bad Trade

I initiated a buy on PII on Friday with expectation of some bounce this week. Then I clamored all weekend sifting twitter and internets and came to an uneasy consensus, too many people are looking for a bounce. Shit.

Monday PII pulled a nice turnaround putting down a big mario brothers hammer throw. It looked like buyers we responsive to the sale price. Today I cut the trade. Small trade, small loss, moving on and not making it an investment.

Still like RGLD, added a piece.

Still like WFM, but I want to buy it for $62 dorrah.

SKF is still hanging out in the port with GSVC and AWK and a pile of cabbage.

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Selective Ignorance

Looking over my port, things could be worst. My PII purchase was ill timed and I took a quick 5% haircut. If the PII doesn’t get its act together come tomorrow it’s gone and will serve as a pie to the face. In this market, it’s death by a 1000 paper cuts when you’re marauding into and out of stocks all fast and savvy unless you cut out the bad habit trades. Hit yourself with the newspaper, bad dog.

RGLD is coming into my sweet zone and I will be adding some today or tomorrow.

I choose the path of selective ignorance, and will at the least play for a mean reversion and at the most look for some coked up mystery bid into Christmas. Hope baby, hope.

Whatever, I want to own some stocks. AWK pays a sweet coupon and I’ve owned it all year. Maybe it’s boring for you to read about but nice for a stable few percentage points as shits not swinging well. I feel the same way about PAYX. The management team appears solid, and they’re letting companies outsource their bullshit HR departments. If you buy these stocks on discount (like now “ish” in PAYX case) then you collect a coupon and hopefully don’t get whacked by any capital depreciation.

The SKF is shoring up the butt-fuckery of PII and GSVC.

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We Go Higher, Yes? (UPDATE)

I dumped the SDS hedge I put on Tuesday. It was some nice insurance and now I want to let my longs stretch their legs.

I want RGLD a tad cheaper, around $75 bucks, to get some more. Gold topping articles coming out again, I LOL.

WFM I wanted more of around $64 bucks, but the prospects are growing dim, and the stock is beginning to bore me. I may cut it.

I want some BWLD and I’m considering collecting the coupon on PAYX.

May a turkey adorn the tables of you and your family.

UPDATE: Bought PII. Looks nice:

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Put Some SDS On

Euro dollar weakening, VIX holding 30, and I chased a little RGLD, which is fine considering my first buying tranche was swing low and my average cost is high $67’s.

I still want some $62 WFM. I won’t hold my SDS into next week unless things get ugly.

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