See where it gets you, fuckface. I’ve been doing this shit, quite successfully, for a number of years. I do not lose.
Even the fuckers who I employ on this site, Woodcheddar, Danny, Alpha and RC, are bullish. Help me out here, I’m fucking surrounded by maniacs.
It’s “The Fly” and Gunners versus the rest of you “door bell fuckers.” Watch closely, over the next three weeks, as I punch off your mustache and steal your purse, bitch.
Aside from that, I gave back more than 10% of my hard fought gains this week. Those aren’t “oh, gee, I messed up honey” type of losses. They’re man losses. I take losses like a fucking man.
However, I am confident a few things will materialize, over the next week or so.
For one, I believe the faux euphoria of 19 billion dollar writedowns and egregious job losses will fade, enabling the sellers to regain control. Also, if most believe the total number of writedowns will exceed 600 billion, I am confident that being 1/3rd out of the way is not grounds for a bottom.
Finally, I planned the Final Four contest with precision. I shorted [[WM]] because I felt a confluence of events would cause a dramatic loss in shareholder value. Thus far, I’ve been right. Come Monday, “The Fly” will be even more right.
Top pick: short [[FED]] If you enjoy the content at iBankCoin, please follow us on Twitter
Ding Dong. The natives are getting restless.
Everyone please talk shit to the fly over the weekend. That is part of the masterplan (see “the trend is your friend” post on my tab)
Barry Ritholtz presented a great Helene Meisler quote:
Clearly, the recession that hasn’t begun yet is over. At least, that’s what all the folks who never saw the recession coming, then decided we were going to have one, and who now say it’s over, believe. I know because I heard them say so on TV, time and again.
-Helene Meisler
Some people think the bad news marks the beginning of the end instead of the end of the beginning. I stayed bullish way too long this year and got my eyebrows punched off. They are slowly growing back and I’m not interested in losing them again anytime soon.
Oh yeah, one more thing, fuck China. The FXI is at resistance and can’t seem to break through. FXP back to $100 by May.
This was posted in an earlier thread. Must watch the LEH Alt A Expose.
I promise its not another KISS song
Also, bad news is usually announced on Fridays, AH. Let’s see if anything starts popping this weekend. Just a hunch.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8p51DTC.Pzk&refer=exclusive
and
YHOO offer now $25?
and
http://www.marketwatch.com/news/story/appaloosa-backs-out-255-billion/story.aspx?guid={81315FA9-CF7B-448E-9771-9A796D95555E}&dist=hplatest
and
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0KG6bCua6os&refer=home
and
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1FMk25rTocw&refer=home
Nice job Yahoo, hold out for a lower bid. Yoo-hoo!
u better be right i just rebought skf
Not that some random internet lurkers opinion matters to you, Fly, but I’m with you 100%. I feel like sticking my fucking head in the microwave right now. What the fuck is going on?
Don’t worry fly, I’m still holding strong. SMN hurts now, but if it gets the bounce it should, the rock boys are in the building once again… whatever that means.
We in da house!!!
ITso boy inda buildin!!!
uh-uh-uh
JIGGA!!!
The Fly is God
Jake is with the Anti-Doorbell-Copulators (the “ADC”) as well.
It’s not that I am bullish as much as I believe there is an opportunity to take a long trade. Many are skeptical of getting long on a friday after a big run, butting heads with resistance.
I think it would be irresponsible to myself to not trade a signal I see, so, while I recognize the topically ridiculous nature of it, I’m doing it. Things suck, I agree.
In my post I outline “why I think this is different at 12,700.” I still believe we will rally to 13,200 area, on the back of better than expected earnings, or whatever it is that people construe as bullish. That will actually set us up for an overbought situation, which I think is a better time to add shorts, or sell those longs.
That is my game plan, subject to change, depending on events and iBC machine signals. Even today, we are still positive, something that once again, hasn’t happened since early November.
Fly will, as usual, be right. We still are fucked and it is unlikely this is the bottom. Check april to june 2001… huge rally, ultimately traded lower, didn’t bottom til 2003.
Daniel-san,
Ret me be dah fuhst to recommend dat you go fuk yousef!
Yeeaah, rut he said!
Sroooby doooby dooooo!
I may be married to the bearish side, but that doesn’t mean I won’t cheat with the bullish side.
There is fun to be had for all. No reason to discrimihate!
As you well know by now, ever since “The Fly†switched from hot/scalding coffee to the iced variety, the market has went up, (sick!) much to his chagrin.
Are ye thumbs na’ battered up enough, ye stooborn doonkey?
Bye tha saints, I’ll have me yardstick slick by the end o’ this day, I’ll tale ya.
I like the recovery at the end of the day for SMN, was getting worried that with the technicals that it might fall off the face of a cliff. didn’t have a firm enough grip on my balls to buy any more than I already have though, but I bought some at 34.96 yesterday along with POT, so I’m not hurting too bad. I’m going to be quick to sell SMN if it goes even lower, (and rebuy once it regains momentum, and I’ll be quicker to take profits on potash, and use it for more ammo for my bull massacre.
People have been talking about bottom for like 3 months, but I only see the bottoms that are calling bottoms. I think the word “top” will be more appropriate in a couple of weeks, maybe 1 week.
The bulls don’t realize that they’re not actually bulls, but a bunch of lemmings. Meanwhile, the bears are just having a picnic just watching the bulls fall for the bait… Just waiting until the “bulls” committ their own death. Just make sure you don’t use all of your salt on the picnic, and save extra salt to pour on the survivors wounds.
Boomer,
That video clip is spot on. I work for a company that helps mortgage banks hedge and sell their loans in the secondary market and ALS (owned by Lehman) bought up all the Alt-A they could get their hands on. Our clients sold so many of those shitty loans to LEH right up until the shit hit the fan. If you think Citi, Countrywide, UBS, and DB have problems, they pale in comparison to LEH. There is no doubt in my mind that LEH is headed a lot lower.
Fly could be right. We could be at the top of the range for a while. On the other hand, we may see an enormous rally in April that will go down in the history books.
Mebbe eff’n the wee doonkey wood stop his foul-mouthed carsin’, the good Lard Baby Jesus would see tah fexen’ his poortfoolio ahp a bet!
yeah boomer, that video was great. not at all the rant I thought it was gonna be.
Danny appears to be the only one (in addition to me and the rest of the ding dong copulators), who is more interested in making money, than trying to reason this shit out. I thought you guys were traders. It appears I may be mislead, O ye economists from the Whoreton School.
Hat tip to Danno for sticking with his technicals and discipline.
Pulla da tligga an buy China, you ignolant, amelicans!
Lepracing “R” wit “L” or vice velsa is not ord. It is da way I tawk, so fruck off.
Dennis Gartman is very bullish just to let you know…
Finucane: Dow 20,000 Within 12 Months
A longtime stock strategist known for calling market bottoms is now calling a market top — an astounding Dow 20,000.
James Finucane, a career analyst at Stifel, Nicolaus in Chicago and now a consultant, told Barron’s Weekly that the market is in one of those speculative low points following a crisis that later yields a huge rise in stock prices.
The liquidity being pumped into the financial system now means the natural outcome will be a big bump up in short order. There could be some volatility, but soon enough the Dow will rise to somewhere between 18,000 and 20,000, he says.
“Governments and central banks have a clear incentive to promote growth, so to bet on a prolonged slump is to bet against the government, markets and human nature,†says Finucane.
Finucane is a student of low points, especially the long and bumpy history of recent market crises, like the Mexico peso crash in 1994 and the collapse of hedge fund Long-Term Capital Management, just four years later.
He has some numbers, of course, not just a “feel†for things: Money-market funds are stuffed with $3.45 trillion in cash. U.S. equity funds have seen nine months of outflows, a new record.
Editor’s Note: The Recession’s Silver Lining. What it Means for Investors.
Consumer confidence has hit a 17-year low, and individual investors are by one measure more bearish than since the beginning of the 1990s.
In short, things are not nearly as bad as they were for investors in 2003, as the tech stock crash was finally winding to a close. An investor rally is practically built-in, he figures.
“The setup is perfect,” Finucane says.
And yet the Fly will say he called it when it does occur.
You bears are a bunch of pussy ass muthafuckas.
At least when The Fly whines it has some sort of je ne sais quoi.
Of course, you all must know I’m just ribbin’ ya. While I have outlined clearly while I’m short term bullish, it does not seem to matter that its just a trade. But it is, just a trade.
Longer term, what the bears seem to be missing, is that what is setting up is a much worse bear market than most expect. In history, when we experience this level of decapitation across all sectors of the economy, i.e., housing, credit, employment, manufacturing and the capital markets, it does not end in just 5 months time. Typically what happens is that the market bottoms (short term) right around 4 months or so in, and then trades sideways to up for more time. Concurrently, things are getting steadily worse, while the market trades sideways. When the bulls/401Kers/money managers realize that it has all just been one big bull trap, the psychology and the realization of what is happening is much more painful than the first drop (imo). Then the market begins another, usually bigger, down trend.
Go back and look throughout history at bear markets. They are painful, grinding, drawn out events. The fact that we are rallying here means imo that this is going to be much worse than most think. If one is a true bear, this is what you want. If you just want a quick trip down 25%-35%, then you aren’t a bear, you’re a trader who can profit from both sides of a trade.
Think about it. How do you really punish a long? Its not by going straight down 35%, making a bottom, and then starting back up. The bear punishes the longs by first removing all hope, by completely humiliating him, and by making him done with the markets. I’m sure that is what is happening here.
What happens if MSFT pulls its YHOO bid? What happens if AA misses? Shit could go bad. Fed minutes. etc…. Worrisome shit this coming week.
Top Pick: Short X
Look Fly and you other bearish fucktards, don’t you get it? It’s a fucking election year, the Republicans will do anything to stay in power and that means twisting Ben’s nuts to get this train back on track! They will use all the power and force at there disposal to turn this thing around. You’re fucking a dry hole!!!!
So get your little weiner out of the dry fucking ground and come check out my wet wife Mrs. Bull.
Fo shizzle mah nizzle. You da excretenist mo fo on ar orb. You be hangin’ it wiff that one eye goat in the morning glory hole. Carry on mah brutha!
wood-
nice comments, very insightful. helps me immensely in assimilating what i have been shaking my head in disbelief about the last 2 weeks or so.
You were warned and given the chance to take profits and ride the rally and then flip back when/if the tides turn again.
Quit bitching and buying short all the way up. Cash in and make your money.
Long and strong baby and i Bank coin.
Well said Wood.
One day, “The Fly” will turn over this site to Au Contrair.