SPECIAL EMERGENCY UPDATE FROM THE VATICAN:
The Pope has spoken. The financial system is ‘built on sand.’ The apocalypse nears.
———————————————————————
…you do not start looking for new couches and side tables, for your bullshit house. First, STOP the bleeding. Do it now; it’s never too late.
Next, think rationally and try to resist the temptations to “make it all back” in one trade.
Get your fucking lists ready, both long and short.
We all know the commodity sector has been ravaged. But, that is not reason enough to get long. If you insist on putting your hands in the fire, be sure to limit your time there.
At the moment, “The Fly” is eating popcorn and drinking excessive quantities of Monster Energy soda, while watching Dick Fuld “fortune cookie” himself on “The Hill.”
As for bottom fishing: Don’t do it.
This fucker (market) is likely to halt trading today or close at the lows of the day. If you insist, get long a few lotto tickets 10 minutes before the close.
With my money, in an unprecedented move, I may just cover my shorts, go to cash and throw my trader/servant out the window.
If you enjoy the content at iBankCoin, please follow us on Twitter
Thanks.
The Fly is so God.
When all else fails put 1 Million into C just like fly did a few weeks back.
If you can’t put money in the market when the VIX is 56, then maybe you should take your money and buy yourself some balls.
We saw the Fly’s 2008 predictions in the prior thread. For a laugh, here are 10 Cramer predictions made on January 2:
http://seekingalpha.com/article/58745-jim-cramer-s-10-predictions-for-2008
Why the hell are my posts being deleted?
How low do you think we fall on the DOW today?
I’ll say 666, Fly’s lucky number
LOL @ AAPL and GS at $300 and GOOG at $1000.
I think Cramer jumped the shark with his “get out of stocks” call.
Bennet Sedacca
12:51:08 PM
No positions in stocks mentioned.
Preferred Market Update
The 200 or so financial issues that my firm follows are getting absolutely slaughtered today.
There is barely anyone, if anyone at all, that is able to finance themselves in this market.
The corporate market isn’t much better and equities, are well, equities.
Expect more defaults. Soon.
Every time I look up at CNBC (volume is OFF, of course) and see the wall of fools I keep thinking there should be one more square in the middle with Whoopi Goldberg to complete the Hollywood Squares….
Dennis Kneale has nothing on me, Dick Fuld of Shit –
Dubious Advice
Rev Shark
10/6/08 12:51 PM EDT
There are a lot of things in the financial media that make me cringe, but at the very top of the list has to be Dennis Kneale of CNBC with his “It’s not a loss if you don’t sell” shtick. Does anyone really believe that sitting on huge unrealized losses is a good investment approach?
Why aren’t some of these people really questioned about the very dubious advice that they give? They need to be cross-examined like they are on the witness stand if they really deign to tell people how to invest. Yes, I’m a recovering attorney who loves to question people who try to hide the facts, but it is sad that so much business programming is about entertainment rather than really trying to help investors.
woo-hoo, lottery stock OSRS (formerly THME)up 300%!!!
“recovering attorney” hehehehe that’s a hot one!
Why is Dick “FuckFace” Fuld still worth $500,000,000+? I mean shit, we’ve seen some crazy pinko bullshit going on here in the US-of-A the last 3-4 weeks. Why stop now … it’s not like we haven’t already abandon capitalism.
It may sound un-American and shit, but why don’t we just make these Motherfuckers pay it all back? Why doesn’t congress legislate a bill right now, making these scumbags pay it all back.
Why is Michelle Caruso-Cabrera showing off a bit of her cleavage nowadays?
Donny-
not a bill. A choice- sign it over, or take a fucking K-Bar to the throat, and it’ll get taken anyhow. Twenty seconds to choose.
“I’m not a gambler. I’m a risk taker. Short selling is gambling.”
What a fucking creepy dude.
GGP…going, going,…….
I am continuing to commit hari-kari by slowly buying crushed & cursed equities…. much to my chagrin.
I was surprised that somebody didn’t figure out that proposing a tax of up to 99% on the net worth of the CEOs, senior execs and boards of the companies involved in creating this mess would have helped get a bailout bill passed much more quickly.
Hank Greenberg, for example, on the Charlie Rose show said that his AIG stock was virtually worthless. Rose asked, “And that’s down from billions, right, to…”
Greenberg shook his head and under his breath said, “Maybe $100 million.”
Before one dollar of tax payer money was spent, the Mozilloes of the world needed to be held to account. Might have only amounted to 10% of the bailout, but it would send a message to future boards and current taxpayers.
Intra-day lows being tested.
I am up 13% today or much more than you, fyi.
Fly’s Trader/Manservant: Don’t forget to pack your parachute today!
Sold covered Oct 140 and Oct 145 calls on my SKF.
Orders in to sell covered Oct 115 and Oct 120 calls on my SRS, but it doesn’t dazzle the crowd like SKF does.
The Pope speaks truth in this matter. May God bless all iBCers as they:
Leave an inheritance for their children’s children (Proverbs 13:22)
Protect the wealth entrusted to them by God (Proverbs 21:20)
Steward the resources provided them, no matter how great or how small (Matthew 25)
Seek wisdom as to how to handle the mess we are in (Ecclesiastes 7:25)
Peace be with you.
Yo Fly,
Can you post your LONGS WATCH LIST? I am also closing my shorts today and going LONG…today looks like capitulation. No buy side at all…
Off topic, how much are you up this year and what are doing to celebrate? Perhaps a free subscription for a loyal IBC reader (cough cough Big Mike cough) for the PPT?
Keep in min The Fed’s official bias has been INFLATION since the June 25th meeting…so we’ve been very successful with that challenge.
SRS calls now sold.
Nice Fly, now do your part in saving the world by buying equities!
Fuck the Pope … he is soundbiting that man erroneously called & known as ‘Jesus’.
This was the actual full quote.
“Beware of false prophets and scribes who come to you in sheep’s clothing, but inwardly are like ravenous wolves, preaching to you about submissiveness before sacred objects, false deities and gods, and preaching submissiveness to idols and erroneous teachings. Beware of those who forbid you access to wisdom and knowledge, for they speak to you only to attain power over you and to seize your goods and belongings. You will recognize them by their fruits.”
Will PPT Subscribers have access to The Fly’s Buy/Sell Watch List?
yes
Fly=Tokyo Joe
AAPL RIMM GOOG are not getting pushed lower, you know what to do.