I’ll get to you oil haters in a second.
As you know by now, “The Fly” is pimping this market with a very heavy hand, being long the banks. As unbelievable as it may seem, I knew this was coming, sort of like how animals know bad weather is coming (call me an ape and I’ll have your chest hairs punched off).
I sold out out of 95% of my inverse etfs’s yesterday, leaving me net long banks—in a very egregious way.
Part 2 of my victory will be in the energy pit—watch me.
Now I know many of you noodle twisters are big time oil bears. You make lots of offhanded, corny remarks, about how oil is “so doomed dude. Like totally, it’s going down.”
Let me remind you, criminals run the oil markets. They do not bow down to your asinine economics 101 rules. That’s like telling the Italian mafia to lower the interest rates on your loan, since Ben Bernanke lowered the Fed funds rate.
Sometimes I think many of you are delirious, from all of the misinformation you are fed, on a daily basis.
Calm down, put your charting rulers down and think.
Can we have it both ways—growth and lower oil?
Answer: No
Naturally, due to the nature of “betting on a storm,” oil will trade lower—should it (the storm) weaken or veer off course. But, the longer term picture has not changed. So, I will buy dips in crude and pray to Poseidon for furious winds to knock over those idiotic rigs, littering the Gulf of Mexico.
Aside from all that, I like Equinix, Inc. [[EQIX]] and short Legg Mason, Inc. [[LM]] .
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growth=strong dollar=weak commodities
POOF! Your oil rally is gone.
Wrong.
Let me guess, this is your first day investing?
So McFly,
Are you a weather junkie and a gambler?
TIA
And you called me out of my mind?
Did you get another death threat from Hank? Welcome to the society of a**hat bank stock buyers.
My FRE and FNM are up 100% in 4 days, brilliant! Long LM.
Relax. I’m a trader…investing is for fools. You get so sensitive when you’re losing money.
Losing money?
Net long banks gets me a loss today?
What is that in your pipe over there?
And you have it backwards: trading is for insecure losers, while investing is for men with convictions.
Take it to the grave.
By the way, my new bank longs are just “trades.”
Sweet ironic, irony.
Fuck you Bill Miller. ABK is up 400% since July 15th and MBI is up 300%.
Crude going to the shit hole.
AND:
If that little fuck face, Gustav, doesn’t create holy hell in the Gulf, it will provide the catalyst for Oil to take the next step down below $100.
ARD.
Are you going to mention it? Or am I going to have to?
ARD is flat from yesterday.
I don’t use 1 day time frames.
Get back in line, American Ducati.
Donny:
Go play with live sticks of dynamite, near an open/lit grill.
You guys are absolutely idiotic to think oil would be up today. Gustav is baked in and noone wants to be exposed over the weekend with the chance the storm fizzles…
What, the man with the ruler wins again? Impressive!
Hey Fly … don’t hate the player, hate the game. You know better than this shit.
Next stop, oil below $100!
Stop loving oil and shit.
The Fly is god.
I know y’all are tired of hearing it, but… the Fly is smarter than all of you put together, even though some of you are very smart indeed. My IQ and intuition tells me so.
My PSA for the day.
Oh, and stocks are slightly less sucky than they used to be, but still have a major asshat factor. JMHO.
My bad. I forgot that you are an investor that takes 3-4 trips to Romania each year because you can’t let go of your “convictions” until you’ve given up 10-20% of your portfolio. Learn to be a trader and maybe you’ll hit that 100% market sometime.
Enough of this jibber-jabber. I like you Fly, that is why I am imparting my wisdom. GL with your “convictions”.
Hey, I got an idea.
When oil is trading above $120, how ’bout I roll some barrels over your facia, Donny?
The lack of collegiality in this stock discussion parlour is becoming most egregious. If we should so choose to disabuse one of our fellow traders of his specious notions, we must do so in a kind and honourable fashion.
Yeah. Yesterday Flyshit was long oil and SHORT financials. Then he was “gone” for 11 hours.
Mysteriously, he now returns and CLAIMS
“I covered my financial shorts YESTERDAY – leaving me net long banks in a very egregious way”.
Yeah. RI-I-IGHHHT. And what about those OIL LONGS Mr Fly? What’s your percent gain?
Let me get this right. Are you done shorting banks? You don’t think there is more damage to come. Or is this some sort of George Costanza backward talk joke?
thanks.
Fine Wine — instead of making a complete asshole out of yourself, ovah heah, why not instead read the actual posts? Fly said he was covering most of his SKF and SRS before yesterday.
Stop shitting yourself, Fine Whine, and start reading for comprehension.
_
Atta Boy Luther!
Uh, Sorry I meant Woody.
KD — he said “it was a trade.” Plus he’s staying short LM. What do you think, given that evidence?
Again, it’s all in the posts and/or comments.
__
Please no one equate me with Fine Wine Rally, or any other dickheads.
Though I am right about dino shit, and have been right since I first started warning fuckers several weeks ago, I do not have any less respect for The Fly.
The Fly has a calculator brain, that is capable of solving Einstein equations faster than Mac Book Pro.
Victory, part 1 for Pakistan:
http://www.bloomberg.com/apps/news?pid=20601084&sid=aSz3qf2xfS14
Is Pakistan ran by asshats?
Kiwi — the real question is, “Is Pakistan being run by anyone?”
__
Yeah if you wouldn’t have used that stop loss in KBH just look where you would be. Hard to believe there were still so many shorts in the homies after all those squeezes.
Are you guys even paying attention? Maybe it’s because I chat with fly on a daily basis about his positions, but it’s pretty remarkable the way he has maneuvered this market.
How do you not see it? Pay attention, he is giving you freshly minted coins.
Right now you should be looking at EQIX, and be building a position in oil.
This is one of the hardest tapes to trade in, and Fly is making a mockery of you guys.
pay attention, this shit is legendary.
My bad jake, I didn’t read it carefully. just scanned through it.
thanks.
In all fairness, FinWine may not read everyday. Some people are busy and actually work for a living.
Out of the goodness of my black heart, I will point him to my references, without getting mad. I will accept his apology by 4pm, no later.
http://www.ibankcoin.com/flyblog/index.php/2008/08/27/the-hedges-are-coming-off/
http://www.ibankcoin.com/flyblog/index.php/2008/08/21/insane-asylum-trading/
http://www.ibankcoin.com/flyblog/index.php/2008/08/25/something-fishy-is-cooking-in-fishtown/
http://www.ibankcoin.com/flyblog/index.php/2008/08/26/going-all-in-in-a-very-crazy-way/
http://www.ibankcoin.com/flyblog/index.php/2008/08/25/a-losers-tape/
http://www.ibankcoin.com/flyblog/index.php/2008/08/27/the-hedges-are-coming-off/
Most of you (excluding the Fly of course) don’t have a fucking clue – you are just gamblers looking for a greyhound track.
Just walk away and go have some fun. This tape is just a head fake and whipsaw until next week.
And when you come back, bring a more substantive thesis.
Arguing about the storm path for the “cane of death”, or the future price of oil is hardly productive behavior.
(anybody got a new bar of soap I can borrow?)
yeah, Howard Hughes… I remember when your lawyers used to walk the bill over from downtown LA to Hughes Aircraft and put the extra time on the bill… just because they could.
I will no longer tolerate those of you who are either too stupid to read or intentionally here to piss me off.
You will be banned, deleted and killed.
With regards to my positions, reference the comment up above, with all of the links to my past commentary.
aside from that, buzz off.
OK I apologize. Sort of. In this cite you posted Monday you said you were holding your financial hedges till Wednesday.
http://www.ibankcoin.com/flyblog/index.php/2008/08/25/something-fishy-is-cooking-in-fishtown/
Here is what SKF has done over the past 5 days:
http://finance.yahoo.com/q/bc?s=SKF&t=5d&l=on&z=m&q=l&c=
So your hedge went from 132 Monday afternoon to 129 Wednesday noon when you exited. A 4% loss.
I must grant you that your exit was timely, since SKF has gone straight down to 119 since.
Now post up BEFORE (or simultaneously with) your exit from your long oil plays.
Fine
See how cordial we can be, when not yelling at eachother?
I bought SKF, all the way down to 108. My cost basis was a touch over 120.
While it’s true, I said I’d hold the hedges to Wednesday, as you can see from yesterday’s post “The Hedges are coming off,” I changed my mind.
See most recent post for explanation.
I always post my moves,, but the Fly Buys/Sells do not hit front page. I will have them hit fp.