I am going net long the banks. That’s right.
If only for a few days, “The Fly” wants to be a patriotic bank lover again—via siding with the Government—waiting for bailouts and such.
I know it seems asinine, because it is!
Just know, anyone who has an iota of importance on Wall Street (as you can see I am still here) is on vacation right now. Therefore, it’s the perfect time to manipulate stocks, on low volume, through egregious government intervention.
So, as of now, I am net long the banks, via [[RKH]] and [[UYG]] . Let’s see how long that lasts.
Also, I see some of you are non-believers in Hurricane Gustav, due to some recent tracking report.
Hogwash.
While it’s true, the “Deacon of Death” trade is crowded; it’s far from dead. The storm is 5 days away. There is plenty of time for people to get all panicky, covering their oil shorts, in anticipation of oil rigs getting knocked offline in the Gulf.
At the present, my favorite picks are Lehman Brothers Holdings Inc. [[LEH]] , [[UYG]] , [[DIG]] and [[IEO]] .
UPDATE: Accuweather’s recent model
Fly – How long would you give LM before it starts working against you?
I agree, this feels like a rerun of the Christmas rally. Not going to break through 1261 on this volume, might as well get long.
LM is doomed either way.
Wait for the redemptions.
Accuweather is very low-end and they apparently havent looked at the models in the last 24 hours. Louisiana eastward is at greatest threat. NO is currently down the center-line.
How dare you insult Joe Bastardi.
Anyone with a name like that demands respect.
Need I remind you of your past tracking models, Mr. Verita5?
True – The PPT has a low volume window to scare shorts out of the financials.
The crooked fuckers also have a perfect window to trash crude going into the republican convention – all it takes is a mention of releasing barrels from the SPR.
We’re five days out and Gustav has not yet hit the warm Gulf waters, so pay attention to the cone, not the red dashed line. At this point, the accuracy of the storm track is plus or minus 200 to 300 miles in either direction. A westward track is better for the oil and gas platforms, but not better for traders going long oil and gas. Go here to see where the rigs are located.
I will post an update of my personal track, in the Peanut Gallery.
Something seems weird, I take back that rally comment.
Adding to shorts.
What!!??
Cubs:
I notice you are consistently on the opposite side of the God trade. You need to practice more Costanza trading.
Look at KBH for instance. This is a trap. Fre and FNM up again? Come on.
NUVA looks like it wants to bounce here …. just saying
Fly … how bout KRE & KBE?
Bozo Cramer put a note in the columnist commentary citing that he did not call multiple bottoms in housing.
Long live The Fly — one day IBC will surpass TSCM!
This market is remarkable only in terms of sheer “homosity”. AAaaahhhh, bullshit.
Prediction- Some day Veritas will be Joe Bastardi’s boss and when he refuses to get a shave and a haircut Veritas will fire him. Veritas will then become the head meteorologist at the Goldman commodity group, move next door to the Fly (buying Dave’s house) and then call INS on Fly’s illegal Mexican gardeners.
Quick Alert- ARD looks like it has reversed, from right where my crayons drew a line.
I’m bored. Can I start a rumor here? Something like, JAVA buyout by private equity firm, valued at $30/share???
It seems that the right side of the storm will be the area
of interest, since Often the right side of a hurricane causes the worst storm surge, winds, and tornadoes.
Hey Hey
Southeastern Management owns $1bill worth of JAVA stock.
http://www.247wallst.com/2008/08/sun-microsyst-1.html
Oh for those days in 1999-2000.
Thanks TC!!! It’s probably only worth a half billion by now.
When was the last time you saw MA trade shitty on a a 100+pt Dow rally?
Rally? Rally? Paging Merlin- Paging Merlin- Merlin please report to customer service…
“How dare you insult Joe Bastardi.
Anyone with a name like that demands respect.”
:clapping:
POOF, your bullshit oil & gas production is gone for a coupla months. 🙂
Get your own name, bitches. Don’t use my stuff.
Todd Harrison
12:39:30 PM
No positions in stocks mentioned.
Chatter Box!
Heads up Minyans–we spoke this morning about the potential for mandates and agendas to be announced in an attempt to spark an equity rally.
The unconfirmed chatter making the rounds on the Street is that an important Treasury statement is imminent.
If true—and there’s clearly no way to tell if it is until it’s announced–it would fit nicely into both what we wrote about this morning and the shrewd timing involved (as ranks thin into the holiday weekend).
This indeed is getting interesting and interestinger.
Those dots and dashes on the Accuweather map read “Buy RIG and NOV”.
Expect delivery tomorrow.
Forget playdoh, do the Dew (see website above)!
The DOW will not fall below 11,000 until atleast March 2009.
So THE FLY should just quit blogging…..HAHA!
Cramer, bottoms, we don’t need no stinking bottoms. Hey gringos, big storm forming. The pants are becoming filled with shit no.
I am long gringo banks along with senor fly. The senor is seldom wrong. Adios compadres and homos.
Today is the anniversary of SRV death in 1990.
Merely a tribute to my favorite Texas bluesman.