My Goldman Sachs Group, Inc. [[GS]] short is working like a fucking slave right now. Well, not like a real slave. Instead, GS is like some sort of person or thing that makes you a lot of money, without having to actually compensate that entity, similar to how the workers from Wal-Mart Stores, Inc. [[WMT]] get treated.
Book value for GS is now down to $99. That’s precisely where it is going. Giddy-up—fuckfaces.
Which reminds me, what happened to all of the dicks who were hardcore Goldman ball lovers? I mean, all the guys who said “Goldman is a premier franchise.” I HATE when people say that. There is no such thing.
The way I see it, everyone gets their 15 minutes of fame or glory, but it never lasts. Look at American International Group, Inc. [[AIG]] . That company had the 2nd biggest market cap in the country a few years back, now they’re sleeping with the sardines.
Seriously, never listen to people who go on television to voice their opinions. First of all, men who need to whore themselves on TV are insecure and big time bloviators. They just want to hear themselves talk and say all sorts of gay shit.
Instead, listen to anonymous malcontents on the internet. As you know, the internet NEVER lies.
Back to business:
I am having my face punched in, via my long oil positions. It’s starting to make a dent. How much lower canFreeport-McMoRan Copper & Gold Inc. [[FCX]] go? I don’t know. How much lower can AIG go?
Answer: not much more.
Keep your eyes on Citigroup Inc. [[C]] and Morgan Stanley [[MS]] . Both of those names look “graveyard sick.” I would not be surprised to see C go all the way.
Finally, assholes are buying Wells Fargo & Company Wells Fargo & Company [[WFC]] again. Understanding the severity of an AIG bankruptcy, I cannot cover my numerous short positions. However, I will add to my longs—just in case the Fed tried to pump up equities.
NOTE: I stopped out of my Wachovia Corporation [[WB]] .
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Do you see the pain for AXA being more short term or something that goes to zero?
What are your three top shorts
C?
LM?
GS?
AXA?
Be careful of the oversold bounce.
Fly, would you recommend shorting ZION?
Does not listening to people’s advice on TV go for Ward Cleaver of the “Beaver” family? He gave good advice to Eddie Haskell and Wally the other day.
Other then DIG and FCX what else are you long?
Its kind of late to be adding to short positions.
Wait for the bounce then add
What the heck are these peices of dog turds still rallying for?
My nomination for an asshat award is Steve Forbes. His solution to the financial problems facing the country is to eliminate the requirement of marking assets to the market.
I guess is anyone needs a loan, go to Forbes…he won’t look at the market value of you assets.
What retail banks are “safe” to put money in?
Note to The Fly, when using stop’s, please don’t use big round numbers, like say $10.
This could be a double bottom on the Dow from the July lows.
Don’t forget that MS will get taken out for $10
Will you stop swearing if the DJIA crosses above 11,000, son?
If you want to hedge your shorts going into the afternoon rally… try a little AIG . The market must follow that derivative H-bomb.
Mom +3
the dope buyers…ahem…dip buyers are out in force today.
Fly talks shit = market bounces off lows…
How many times did we see that happen?
Goldman Sachs and the Yankees, both premier fucking franchises.
Vulnerability through arrogance.
Mike:
Go fuck yourself you little cocksucker.
I talk shit every fucking day, yet here I am way ahead of you.
Don’t fuck with me.
I agree with Juice on the AIG. I bought shares of AIG at the open, just because the gov’t ain’t gonna allow it to disappear, and it’s a great hedge against all my short positions.
WB was $30 or $10. It was that simple. It hit $10, so I am done.
You guys are FUCKING nuts for buying AIG.
They will file chapter 11 tomorrow.
I just sold my AIG, I bought (yesterday @ 4) sold @ 3.
I feel lucky to be out.
Fly
I really don’t get your oil story. It sounds bullshit to me. What we had-oil going up while banks were falling- was a stupid move particularly when falling banks stocks means debt deflation. In a debt deflation why the fuck is oil such a hot commodity if you pardon the pun. No disrespect but I really think you’re talking shit with that one.
If you wanna pair trades then pair the banks against say staple goods. pairing short bank stocks to long oil is so yesterday.
I’m dieing, we need to elect a million Ron Pauls.
http://biz.yahoo.com/ap/080916/fed_credit_crisis.html
J:
The beautiful thing about life is that you don’t have to “get” shit, yet still manage to function.
I want my counter balance to banks to have teeth. I am not interested in pussified moves.
I have staples: CL, CLX, PG
Boring.
National defecit= 9.5 trillion and climbing every day
Boy, are we in a mood today…
Surely something must be troubling you… perhaps you are long AIG? or maybe you are in your period?
Go drink some cranberry juice.
TOP PICK: BUG SPRAYS
Mike:
You are like the gum underneath my shoe. I try to scrape you off by rubbing it in the grass, but then I step in shit (J).
People:
Fuck off and never give me advice again.
Thanks
Fat Mike
Go fuck yourself- You fat,sweaty,slob.
FLY + 1,784,324
Fat Mike -1,784,324
Fair enough fly:
Maybe you don’t like staples. That’s not the fucking point though is it? Explain how does a long oil position work when we have the biggest debt deflation/credit crunch going his side of the great depression?
Try a smart answer this time and don’t skirt it.
Do you honestly think that if as you are saying banks are getting bunged up the backside with a cricket bat oil is magically going to rise. How the fuck does that work.
but then I step in shit (J).
was that to me, Fly?
Good god SKF is getting smoked now, Fly will you buy more?
is this little rally presupposing a rate cut? or is it from the fed’s 70 billion injection
senor fly will buy that shit up to $140 i reckon
J:
This is purposeless. You seem new at this.
Question:
Why do you take out car insurance or insurance on expensive items?
The definition of a “hedge” is to protect the downside of being wrong. Sort of like a costanza trade.
Notice how the oils are rallying while the market rallies?
Fuck the banks, but AIG is indeed too big to fail. That’s the line in the sand.
I like Zach. lmao at your karma points.
“j” if you don’t ‘get’ his reasons for that position, instead of giving Fly a hard time, maybe you could just sit back from that trade and watch and see how it works out for him over the next couple of months before you criticize. You will learn something no matter how it turns out.
I think he’s right btw but I’m no expert.
This is purposeless. You seem new at this.
Yea i am 20 fucking years new fly
Question:
Why do you take out car insurance or insurance on expensive items?
that’s a trick question right?
The definition of a “hedge” is to protect the downside of being wrong. Sort of like a costanza trade.
And I’m telling you it’s the wrong fucking hedge. Oil should be shorted in a debt deflation or am I missing something…….. like oil is supposed to be going up when debt is worth shit.
Well, you are correct.
In deflation, oil will go lower, but so will banks.
My split is 70/30, bank shorts to oil longs.
So, this may sound crazy to you, but what if I’m wrong about deflation?
Well, gee golly, oil stocks may rebound.
Unless you believe banks will go higher in deflationary times, my position is correct.
National defecit (sic)= 9.5 trillion and climbing every day.
Dollar, just a point of clarification: “deficit” is with two “i’s” not two “e’s” and the deficit is the budget shortfall.
You speak of the national debt.
PS — It’s far, far higher than that.
___
fuck: getting an apology (of sorts) from you fly is like trying to rip out a chicken’s tooth.. (they don’t have any).
Here’s an interesting story that you fuckers won’t find in the papers because being Americans you live in a resource poor land fill that was mined out 30 years ago or the Dems won’t let you take the shit out. hahahahaha
A buddy of mine works for a real major mining firm. Shipping product out of the country has slowed considerably because banks won’t extend letters of credit or whatever shit the use to the buyers so the mining house gets paid up front. the banks don’t have enough money to finance this shit.
the credit crunch is serious.
So, this may sound crazy to you, but what if I’m wrong about deflation?
Well yea it does sound crazy it’s as crazy as saying George Bush has a great speaking ability an can put two sentences together without fucking it up.
J–
You already told us you’re a foreigner from some two bit wannabe country. No need to trumpet your communism for the crowd.
We so easily weary of it here.
__
And it is fucking commie, Jake. You just don’t fucking wanna believe how commie Australian people are. They make me fucking sick. They all just wanna suck of the government tit.
As for being a two bit country. Dude we covered your arse in every single war for the past 108 years. Thank us. You even dragged into Vietnam.