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
23,428 Blog Posts

Another 2% Day

You fuckers should be grateful and thank the Gods for “The Fly” and his copious transmittal of words through the interwebs. I’ve been gifting you fuckers for several years now, with timely wins and unseemly accuracy.

The conundrum: I do not need your approval or your money. Therefore, I have zero motivation to shut the site down to subscribers only. That would be gay. However, I am interested in creating a great product for traders/investors. God willing, The PPT will prove to be just that. After all, I am a staunch capitalist with communist friends—who happen to work for the government.

As for today’s trade:

It was kind of weird. Frankly, I haven’t been this bullish since 2006. So, it is a bit of a cultural shock for me, to say the least.

After the bell, Research In Motion Limited (USA) [[RIMM]] fucked their shareholders via an eps shortfall. Thank God I bought [[ROM]] , instead of RIMM directly.

Finally, prepare for a commodity run. It will take you by surprise and spill your guts all over gum riddled pavements (if you are short, of course).

If you enjoy the content at iBankCoin, please follow us on Twitter

69 comments

  1. RIMM bagholder

    Can somebody toss a shovel down here? And maybe a flashlight and some sandwiches?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. Bull Maggot

    Can’t you have a free site and a pay site ol’ Senior?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. Barney F-f-f-rank

    Did someone say fisted?!

    Oh, maybe not.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. DrDave

    Thanks, Fly!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. Danny

    That’s what it is Bull, gu’lawd man, he says it right there.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Hank Paulson

    “I’ve been gifting you fuckers for several years now, with timely wins and unseemly accuracy.”

    Talk about short VMC, I lost my shirt shorting VMC

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. The Fly

    PPT will be a paid service.

    However, it will not affect this site at all. I might treat PPT subs with a modicum of respect. Maybe.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. Gwar

    PPT price/month?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. Another RIMM bagholder
    Another RIMM bagholder

    There’s someone else in here? Dude its dark.

    Hey up there throw down two sammies, please. I’m hungry.

    Maybe one of those CEO smoothies from yesterday? You got any up there.

    Hello?

    Is anyone up there.

    Dang its dark.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. DPeezy

    Hopefully with the profits reaped from the RIMM puts I got at the close I will be able to afford the PPT.

    Or can I apply for a ‘inner city/in da hood’ discount?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. Bull Maggot

    I think you should leave this site as is and offer paid subscribers this content but something in addition…

    So what is this PPT gonna look like? Is it a software program? Does it stand alone (i.e. do I download it?) or does it operate in my browser, over the internets?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. Bull Maggot

    Oh, and how much is it gonna cost?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. Barney Frank + Larry Kudlow = TLF
    Barney Frank + Larry Kudlow = TLF

    Barney: We’re coming down there with a “sandwich” for you guys. Are you stuck? Do you need something to lube up with? are you trapped bending over? Is it still dark? Hello? Anyone?

    Larry: Let’s go Barney…drill drill drill!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. DPeezy

    Don’t worry bagholders, RIMM will get bailed out. Afterall, everybody on Capitol Hill uses Blackberries, no?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. RIMM bagholder

    DPeezy: good point… we’ll dig deeper. If we threaten the stability of the earth’s crust, they’ll be forced to bail us out.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. McCain To The Rescue
    McCain To The Rescue

    I invented the Blueberry. I will invent a way to save…(whispers)…eh… Blackberry.

    Let me clarify. I will stop my campaign to enjoy some blueberries while I save the Blackberry, something I invented.

    Pay no attention, as I was a war hero…eh… Ladies and Gentlemen, let me show you this picture of Sarah Palin’s legs!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. la grande poussée

    From Peachin – an old poster of yours – maybe even banned –
    I have always loved your site – You’ll remember maybe a year ago I related that RIMM was an everyday 60 to 80 dollar stock
    I’m not happy, yet, so maybe I’ll accept 75. Less salt on the beef, I think you are in NY, so maybe you should go to Peter Lugers and First Try just a Hamburger (no cheese) order the fries – and a slice of Bacon – you’ll know why after your order. As you walk around the tables look at the Beef infrnt of every customer – pull a waiter aside and ask questions
    return soon and order the Beef!

    Your decision to go to ROM was excellent – and I bought it for all the right reasons – I got out last minute before RIMM earnings……

    peachin

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. rimm jobb

    Paulson says RIMM included in bailout!!!

    Thank God for the US of A.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. The Contractor

    The commentary on this site is pure gold.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. The Contractor

    Also, Bull Maggot appears to have serious reading comprehension problems.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. jeffpaz

    Fly;

    Is there a lazy mans commodity basket you like?
    DBC, DJP, GSG, GSP?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  22. Q4

    Long live IBC

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  23. hmmmm

    Very ugly. It looks like we will see some price target changes for RIMM tomorrow. Probably down in the $120 range (from $160 – $200)

    Stock is gonna trade around $85 – $100 for awhile I think, we’ll see what the con-call says in 15 mins..

    Haha, I doubt there will be any upgrades in the near future though.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  24. Hangin Two

    Sara Palin’s knees have nipples on ’em.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  25. the Bull

    Please do not confuse me with Bull Maggot,damn, can’t you read AND comprehend man??

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  26. Grandpa

    Fly, will there be a senior discount for those over 47.5?
    Maybe a special package with larger font.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  27. Bull Maggot

    I guess I fail to see where my reading and comprehension skills are lacking. If my questions have been answered, then I missed that post.

    I’m just trying to find out if this PPT will be a website or some kind of downloadable tool. I’m also interested in knowing it’s price tag…

    If one of you Godly Butt Caps can answer to my inquires, by all means…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  28. ZenProfit

    Will there be tutorial YouTube videos by The Fly on how to use the PPT Premium Service?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  29. the Bull

    Will oatmeal be served?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  30. TraderCaddy

    Peechin- Do you still have the horses?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  31. TraderCaddy

    I pulled my limit to buy some RIMM @78.50. I expect any downgrades tommorrow to take it to at least 75.
    In other words, I am chicken.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  32. Market Fool

    Hoy crap someone just unload 1.5 million shares of rimm. Took it from it’s after hours recovery high of 85 to under 80.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  33. The Fly

    The PPT will be a part of iBankCoin.

    It will include a Godly stock ranking system, using a variety of factors, ranging from treasuries to gold to oil to relative strength to beta to fundamentals, amongst other things.

    Also, there will be a mean screening aspect to it, where users can pull up relevant screen in seconds.

    And finally, all tabbed bloggers on the site will give a little extra on PPT, sort of hand hold some of you idiots on how to game the market.

    I will highlight my top 10 picks, with on time buy/sell alerts (sometimes I get too lazy to post them here).

    The price has been decided upon, but will remain a mystery until launch.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  34. buylo

    I dont have no cash, will you accept Roomanian goats?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  35. Bull Maggot

    Thanks for the info Fly.

    Any free trials in the works?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  36. Ozark Hillbilly

    No deal! Fuck yeah!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  37. bugsanddrugs

    Fly calling Dominos
    http://www.youtube.com/watch?v=Z8HxuDcZQsk PS PPT- Im in

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  38. The Fly

    Goats are acceptable as currency replacement, so yes.

    No free trials. I always hate assholes sites that try to trick people into subscribing. I will give everyone a detailed idea what the service is all about, over the coming weeks.

    If you like it, great—sign up.

    No gimmicks. It’s not in “The Fly’s” arsenal, aside from cheap cartoon pictures (Merlin) that make the market go down.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  39. Anton Cigur

    Further information on the PPT, as leaked by the intelligence services of various countries:

    The PPT is bio-mechanical device that operates by means of harnessing tachyons, heretofore theoretical particles that move forward in space but backwards in time.

    The PPT simulates The Fly’s thought processes via a set of proprietary algorithms developed by Danny, Stephen Hawking, a pod of genetically engineered dolphins and backtested by Woodshedder.

    The PPT, in its earliest beta test, crashed the Super Hadron Collider, gave Erin Burnett an orgasm, created the iPhone and invented the term “fucktard” the first time it was activated.

    The PPT will be available not so much as a subscription service as an inter-cranial implant.

    The PPT is not compatible with Windows, Vista, Mac or Linux, but instead as a plug-in to early model “Magic 8-Balls.”

    The PPT will feature a G-60, a Bugatti Veyron and a British Earldom as standard equipment in 2012.

    The PPT can be leased on a standard contract of 2% of your net worth, calculated annually, plus 75% of all profits in excess of whatever you made last year, plus a kidney.

    The PPT emits a pleasing hum similar to a theremun and can be programmed to accompany karaoke-style sing-alongs of Radiohead songs.

    The PPT entitles early adopters to enter a random drawing for various prizes, such as up to two days and one night on Gio’s private island in Hawaii (the one shielded by Google Earth); a “Communism Exorcism” by Jake Gint of your home or office; a copy of AlphaDawgg’s BlueRay DVD, “Four Hour Abs… ‘Cause Who Said This Was Supposed to be Easy?,” and “The Justin Wilson Tribute Album and Hurricane Preparedness Guide” by Ragin’ Cajun.

    The PPT will wipe that fuckin’ smirk off Cramer’s face once and for all.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  40. BIG MIKE

    FUCK YOU BULLS, YOU’RE DEAD!!!

    No bailout for you…so sorry

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  41. Sierra Water

    Wallstreet implosion coming soon to a theatre near you via the Chinese wrecking ball.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  42. Sia

    Just like OA, huh? His blog is almost useless now that he has a paid service.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  43. Been There, Done That
    Been There, Done That

    -1 to Anton Cigur:

    Erin Burnett cannot orgasm.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  44. Karl Marx

    What? You think Erin studied me at Williams?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  45. aristotle

    OA was crap as compared to iBC even when it was free. I could have 20 picks as well with 50-60% success rate. Here I get very high probability trades esp from RC and Senor Fly. Citi calls earned me 53 grand last friday. I can hardly wait for PPT.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  46. Adan

    Fly, I think the PPT would be great, but it would be nice if you had a little “chat,” even if we could not talk to you (wouldn’t want to distract your trading), we could see your thoughts as they flit across the screen. Like a mini-blog…just a thought.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  47. JP Morgan

    I got me some WaMu now.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  48. Anton Cigur

    Been there-

    Your results may vary.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  49. Danny

    Fuck OA. Our site will trounce whatever his site ever was. If that made sense, which I think it did.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  50. Karl Marx

    Aristotle, out of interest, how much did you risk to earn that $53K? (And if I may, in your answer, please don’t resort to that Socratic method crap you swarthy Greeks always pull when someone asks a simple goddamn question…).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  51. WaMu

    Stick a fork in me, I’m done.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  52. boca

    WTF?

    FDIC has taken over WaMu, but JPM gets the deposits???

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  53. aristotle

    KM,
    well it was actually 82k from two accounts. it was double in both accounts. Not bad for an overnite trade. As soon as senor fly made a 180 turn on the market at 12.30 pm on thursday and bought 100000+ shares of Citi, i knew i have to get in big. Call me a gambler, if you want but i just keep enough cask and wait for those kind of oppy/extreme situations.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  54. aristotle

    i mean a total of 82k profit

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  55. Franklin D Raines

    Ok, ok… so i fucked up. Just don’t let it come back to hurt my boyz Obama ‘n Biden.

    “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.”

    http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1

    ”Fannie Mae has expanded home ownership for millions of families in the 1990’s by reducing down payment requirements,” said Franklin D. Raines, Fannie Mae’s chairman and chief executive officer. ”Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.”

    Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

    In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.

    …Yes, that is an excerpt from DeepEasy’s New York Times on Sept. 30, 1999.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  56. Donny

    What’s the flavor of this moment … CASH is King!

    http://www.youtube.com/watch?v=aoMmbUmKN0E

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  57. soicysoicy

    yo fly im new to the site…love your work

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  58. Ozark Hillbilly

    FDIC, OTS was shopping this WaMu thing for awhile. No way they wanted it all dumped in their laps and then parceled out piecemeal. JPM was big enough to take it. Not all that unusual except that the new custodian was lined up ahead of time.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  59. ZenProfit

    JPM paying FDIC $1B for deposits and branches. All WaMu equity and debt wiped out.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  60. Jamie Dimon

    Boca, um, pay no attention. Nothing to see here. Move along…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  61. gappingandyapping

    Oh fuck, we are fucked like chuck tomorrow. This market is about to homo hammer the bulls like Obama in the back of a limo. Truly ass fucked.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  62. Chuck

    You experiment ONE TIME and that’s all anybody remembers…

    God damn Andy Dick.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  63. Obama's limo driver
    Obama's limo driver

    Now that is what I call fucked.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  64. RIMM bagholder

    I better make some room for guests, it’s gonna get crowded down here.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  65. DEVILDOG

    I actually agree with you. I’ve built a good SHORT position on SMN over the past 3 days and I went long MON on the second touch at $108 today.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  66. AU CONTRAIR

    “Big Mike” ….if you really believe there is not going to be a deal, then you really need to go away, take your lunch money and “invest” in lottery tickets.

    There is not choice but to do a deal, the only choice is what is in the deal.

    So take your “FUCK YOU BULLS, YOU”RE DEAD” and tell that to your ETRADE margin clerk whe you get gapped up on and they change the sign to “FUCK YOU BEARS AND ‘BIG MIKE’, YOU LOSE LOT’S OF MONEY NOW.

    Really….just think about it for a minute….no deal. Not an option.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  67. JakeGint

    Au contrair:

    Gird your loins, son.

    BOHICA time, and Barney Frank stole your lube.

    ____

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  68. anjing bau

    Frankly, I haven’t been this bullish since 2006.

    right…..

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  1. Pingback: Ibank Mac