iBankCoin Presents….
January 21, 2008 – 10:20 pm
Lord Duc, “Master of Arbitrage.”
Odd, no?
Lord Ducati will be the first of many Peanut Gallery bloggers to “earn” his very own iBankCoin blog, tab and all. It’s worth noting, there will be minor revenue sharing perks.
The thought process behind bringing on Ducati narrowed down to keeping my enemies close. While it’s true, I respect the hard work and effort Mr. MacDonald puts into his blogs, he is my enemy. Make no mistake about it.
Let’s all welcome, Lord Duc.
G A Y
January 21st, 2008 at 10:23 pmLord Duc gets his own tab on black Monday, odd no?
January 21st, 2008 at 10:25 pmFitting… Fitting. His time is nigh.
Geez, you couldn’t print something out, Fly? You handwrite that poster yerself?
January 21st, 2008 at 10:28 pmI didn’t write that, you fucker.
“The Fly” would never waste his time with such asshattery.
Jeremy did it.
Ironically, at Jeremy’s University, there is a building with “VIZ” planted on the window.
Also, Odd, no?
January 21st, 2008 at 10:31 pmYou just want a whipping boy who is more sophisticated than the rest of us.
January 21st, 2008 at 10:31 pmI agree Jake. That is a third tier sign. The “VIZ” is a nice touch, though.
January 21st, 2008 at 10:34 pmhttp://hopesandbodies.homestead.com/files/viz_issue_37__2_.jpg
January 21st, 2008 at 10:34 pmSpeaking of asshattery… aside from your “low rent” sign, it seems Dooc has some kind of “moderation awaiter” on his site.
Deeply, deeply disturbing in an almost “Tim Knightian” sort of way.
January 21st, 2008 at 10:38 pmBoomer, much more “Dooc” related “viz” there.
Who knew Dooc was Scottish, btw?
You know what they said about Lawrence Tynes’ last FG againt GB last night on ESPN, right?
“It’s Scottish, and it’s not Crrraaaaahhhhhpp!”
January 21st, 2008 at 10:40 pmJAke:
There shouldn’t be any moderation.
It must have been a glitch.
Go fuck with Dope on a Slope for being long Nasdaq calls.
January 21st, 2008 at 10:43 pmDooc gets no tab?
How Asshattian.**
_______________
** Little known fact: Asshattian was the Pequod Indian Chief who sold New Amsterdam to the Dutch for $24 in sweet beads.
January 21st, 2008 at 10:45 pmNew Tabs pending.
January 21st, 2008 at 10:46 pmFly — I already did. I thought that was where you got the info from, actually.
I told him he neeed to call 1-800 GambleAnon.
I think I followed with the observation that, like Doug Kass, some people just have a natural aversion to making money.
I mean, fer crap’s sake, the guy almost bankrupted himself going short last year, and now, upon hitting the Mother Lode, he decides to get cute?
Too hilarious.
January 21st, 2008 at 10:47 pmfinally, finally, maybe, we may be getting someone (Duc) who may be willing to trade on insider information and share his good fortune with us. However, isn’t Duc short for Duck? If yes, a name change is in order lest we will be periodically visiting goats and ducks in Romania
January 21st, 2008 at 10:52 pm“Duck, I says.”
January 21st, 2008 at 10:54 pmI look forward to Le Duc’s posts.
January 21st, 2008 at 10:58 pmYou guys who were not hanging around flyonwallstreet early to middle of 07 have no idea how monumental this is, to have Duc join. Not that it matters, I’m just saying.
January 21st, 2008 at 11:30 pmAlso, there go the futures…PPT must be sleeping on the job.
January 21st, 2008 at 11:31 pmWOW!!! This is going to be a blood bath unless the FED steps in.
I’m sure glad I sold most of my stock on the up 100 pop we got the other day.
My question would be this…If we shouldn’t buy on the dip we are going to see, when will be the time? In other words, what will make you change your bearish opinion on the market?
I’m sitting on a ton of cash and am starting to look at PG, DEO, and T.
January 22nd, 2008 at 12:11 amES locked limit down
January 22nd, 2008 at 12:16 amBO17-
Depends on how aggressive, brave, or stupid one might be.
Conservatively, consider buying when price on the indexes overtakes and holds the 50 day moving average. I will do more research on this and will be posting on it.
January 22nd, 2008 at 12:19 amWhen the VIX goes to 40+ it might be time to sell naked OTM puts instead of going long. Or not. Anonymous advice is highly unreliable.
January 22nd, 2008 at 12:24 amWood, I’m smart enough to have 70% in cash, 10% in DXD, and 20% in DIS(SHIT), MVIS(FUCK), and INTC(FUCKING SHIT!). I covered my DUG and FXP shorts for nice gains on Friday, but obviously I was too early.
I’m looking at the massive drop in the market and wondering if down 600 more points would be a good time to start chipping away? Fly obviously thinks we can go lower, and since he has been dead right on the market I think I should listen. However, I don’t think the Fed can sit back and watch the world markets tank and not take action. I’m guessing I can work my way into positions (since I can’t pick a bottom) and come out alright.
January 22nd, 2008 at 12:37 amyou’re guessing wrong
January 22nd, 2008 at 1:03 amnasdaq futures just went limit - halted!
January 22nd, 2008 at 1:07 amSo that makes you Little Bill, does it Jake? And I thought you were Skinny. Did you decide to decorate your shithole with my friend?
January 22nd, 2008 at 1:14 amFly, could you do the next bull vs bear movie with Skinny and Bill Munny in The Unforgiven towards the end there. An alternate suggestion, Predator has Alien stalking him on the wall and then Alien’s head takes a few seconds to slide off in two pieces due to capillary tension.
January 22nd, 2008 at 1:18 amSeriously, you couldn’t have timed this better…
“Ducati Tuesday” will go down in history.
-DT
January 22nd, 2008 at 4:55 amfly,
where would you be a buyer of fxp?
January 22nd, 2008 at 5:02 amGlobally, 43 stock indexes have crossed the line into official bear market territory. Everyone at the “party” is waiting for the U.S. to make her grand entrance.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aTEHP2k_0aYo&refer=home
Cyclical bear markets typically last eight to nine months. Given the magnitude of the current crisis, I would tend to expect a longer duration.
January 22nd, 2008 at 5:08 amCongrats on the FXP holders… great hold if you got em… almost as happy sitting on my FSLR short watching the solar bubble come apart at it’s seams…
good luck today all.
January 22nd, 2008 at 5:21 amHere is a lame attempt to put a “positive” spin on the CDO market.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXd._g3cfDXw&refer=home
Gross manages money. ISDA represents banks and brokers.
January 22nd, 2008 at 5:23 amDow transports are up???
January 22nd, 2008 at 6:09 amImpotent bailout plan currently being announce by PPT.
Too little, too late.
January 22nd, 2008 at 6:11 amrate lowered by 75bp
January 22nd, 2008 at 6:20 amFT on China stock crash
January 22nd, 2008 at 6:20 amhttp://www.ft.com/cms/s/0/413d0ea2-c839-11dc-94a6-0000779fd2ac.html
FUCK YOU BERNANKE!! FUCK YOU ALL! ECB will lower, BOJ will lower, Bernanke will cut every fucking day I am sure of it. Faggot!
January 22nd, 2008 at 6:23 amBad move by Fed. Should have waited for the washout later today.
January 22nd, 2008 at 6:24 amfuck… FXP was at 111. now at 102. who thinks it still trades at 111, later? (raises hand)
January 22nd, 2008 at 6:25 amDJ Verbatim Text Of FOMC Statement
.DOW JONES NEWSWIRES
The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.
The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.
The Committee expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully.
Appreciable downside risks to growth remain. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risks.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Eric S. Rosengren; and Kevin M. Warsh. Voting against was William Poole, who did not believe that current conditions justified policy action before the regularly scheduled meeting next week. Absent and not voting was Frederic S. Mishkin.
In a related action, the Board of Governors approved a 75-basis-point decrease in the discount rate to 4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Chicago and Minneapolis.
(END) Dow Jones Newswires
January 22, 2008 08:25 ET (13:25 GMT)
January 22nd, 2008 at 6:26 amUncle Ben is not market savvy. He needed to wait for a gap down and a VIX at least to 40. Mid-day would have been smarter. He is screwed if market still gaps down.
January 22nd, 2008 at 6:32 amRick Santelli just called Jimmy Baboon a complete asshat, to borrow McFly’s lexicon. I say shitbag.
January 22nd, 2008 at 6:46 am