iBankCoin
Joined Jan 27, 2008
7,161 Blog Posts

Not Impressed

It is true that the DOW did recover most of it’s losses over the course of the day, but don’t be impressed. If anything fell lucky, lucky that you get to load up on more short ETFs at lower prices.

Did you see the action in technology? Super ugly!

In my opinion, I am certain we retest the lows, then make new lows.

The economy is going no where fast. Gas prices are hovering around $4/gallon, and people feel dirt poor due to the wealth effect.

Feel bad for the homeless guy on the side of the road? Don’t, it may be you soon.

I just don’t see a catalyst for stock prices to rise. I will continue to load up on short ETFs, while selectively picking stocks at discount prices.

BankCoin.

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Guns & Roses “Dead Horse”

[youtube:http://www.youtube.com/watch?v=zxGejqxN2WY 450 300]

Tournament Update: The Fly put a hurtin’ on Ryan in the first quarter. We also have a good match up between [[MTL]] & short [[DECK]]. Check out the match up between Green writer & Profitable trader: [[SKF]] vs. [[DBA]]

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Solar Burritos

With oil headed higher, solar looks more and more attractive. When oil was at $80/barrel, solar stocks were ripping near all-time highs. Now oil is over $100, and the stocks have been cut in half.

Let’s not forget if them Dems take office, there will be a significant push for alternative energy.

In short, solar may not be done going down, but in my opinion,  it is time to start nibbling.

My favorite in the group, in order:

1.) [[FSLR]]

2.) [[WFR]]

3.) [[STP]]

4.) [[SPWR]]

5.) [[CSIQ]]

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Sector Spotlight: Commodities

“I don’t want to get paid in dollars anymore. I want my pay to come in the form of oil barrels or gold bricks. This dollar shit is for morons, asshats, or people who work at [[WMT]]”

By far, the best performers have been in Natural Gas & anything related to gold, [[AUY]], [[KGC]], [[GLD]], [[GG]], [[AEM]].

Wait, what is that? It looks like we are trying to rally, nope, never mind, it failed. Don’t you get it by now? We are going lower! Sell short the spikes all day.

Note: The internet is dead! [[GOOG]], [[BIDU]], [[EBAY]], [[AMZN]]

Note II: [[MELI]] is bucking the trend, I am long the name. Coincidence?

Note III: Because of the recent weakness in the sector, The Fly had decided to postpone iBC’s IPO.

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Earnings

Monday:

  • Petrobras Energía Participaciones PZE

Tuesday:

Wednesday:

Thursday:

  • Blockbuster BBI
  • Dynamic Materials BOOM
  • Joy Global JOYG
  • Marvell Technology Group MRVL
  • SMITH & WESSON SWHC
  • Urban Outfitters URBN

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