Wow, that old fucker Kirk Kerkorian got wiped the fuck out this year, losing more than 12 billion dollars in the stock market casino via Ford Motor Company [[F]] and MGM MIRAGE [[MGM]] . How egregious is that? The man is 91 years old and he is still playing the market—totally nonsensical.
The numbers out of Freeport-McMoRan Copper & Gold Inc. [[FCX]] sucked. Therefore, all of the copper players are trading off. The reality of lower copper prices is finally starting to hit home.
Post yesterday’s melt up, today is just one big let down. The air is slowly coming out of the market, as jerk offs with series 7 licenses take profits and/or begin to place short positions. On the other hand, at least the volatility has subsided, which is great for my fucking heart and brain.
Earnings season is upon us and it will not be pretty. However, with my money, I am pretty sure there is some milk left in this cow to drain. So, on dips, I will add to my National-Oilwell Varco, Inc. [[NOV]] , The Mosaic Company [[MOS]] , Arch Coal, Inc. [[ACI]] and [[UYG]] positions.
But, just know, I can turn on a fucking dime. Do not be surprised to see me buying [[FXP]] or [[SRS]] , for outrageous laughs and somber cries.
In short, go eat a sandwich.
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CHK add bitches!
The rest of this week is critical. If we close above 9400 – 9500 by Friday and over 1000 SP500, traders may start to think the bottom may be in (—for now).
91.
How many is that in Fly years?
Curious:
You’re an idiot.
Don’t worry Skinny Steve will walk on his hands tonight. I’m sure he’ll roll out the new Apple Financing arm….new Macs for nothing down and 2% 48 months….buy today and will throw in an Itouch!
MRkc:
You’ve been very cynical as of late. Must be the meds.
Any post-Cheney trades?
Short Hal?
That fucker needs to take a dirt nap.
Hey Fly: What do you recommend for stops in this market?
Fly,
No one times market changes like you do.
Timing is so key — will the PPT give real-time alerts on your sentiment changes?
This is boring.
Nowadays, if a bank isn’t failing or if we’re not getting some bailout, the market goes to sleep. It’s addicted to big news… even earnings are boring.
I’m going back to sleep. See you all at 3:30.
-DT
Observer:
Here’s the thing:
Quant models can only go so far. Anyone who tells you his computer generated system will make you rich is either delusional or is a liar.
Our system will identify potential buys/sells. Then, the iBankCoin staff will give an extra hand, myself included, by identifying actionable buys/sells.
In other words, it is a kickass system with Godly stewards behind it.
AXP has a tremendous ammount of debt to roll in the next year. The US consumer and samll businesses are broke. Moody’s (ahead of the curve as always) hit them with a downgrade.
I just picked up some puts on their strength today as a hedge for my longs.
That sounds fair enough. Fly.
Looking forward to PPT rollout.
PFE still going. Great divi.
Donny wants the fucking volatility back … what fun to watch panic in the streets.
A tighter trading range is for pussies.
Fly..your right… it runs parallel to my accounts receivable. -1 for me today.
Joe the plumber pay your fucking bill!
After the election I’ll be back to Norman Vincent Peale and Zig Ziglar form.
KC:
What line of work?
Joe The Plumber is a Prick, who will NEVER make 250k a year.
Direct Mail Coupons …Val Pak type shit.
anybody like DUG above 45…having trouble breaking thru
This will make Main street jump for joy. Their bailout is going out in bonuses.
Oct. 21 (Bloomberg) — Wall Street had it wrong: An investment bank’s most precious asset isn’t the army of employees who head down the elevators each day. It’s the paychecks they take with them out the door.
You can imagine the devilish grins on the faces of Morgan Stanley employees last week, after the Treasury Department said it would pump $10 billion into the bank. Not only did we, the taxpayers, save their company, with the help of a Japanese bank named Mitsubishi UFJ Financial Group Inc. More importantly, we funded their 2008 bonus pool.
Morgan Stanley has accrued $10.7 billion of employee- compensation expense this year, almost twice as much as its pretax earnings. The vast majority of this remuneration hasn’t been paid yet. Now it probably will be, assuming the firm survives through next month. Meantime, Morgan Stanley’s stock- market value has dropped $34.7 billion, to $21 billion, since the company’s fiscal year began.
KC
I am sure fuckers on this site need coupons after making bonehead trades. Feel free to advertise.
New lows coming soon. Let’s see if the fly can call it. I doubt it. Will be a good test for his PPT bullshit. Fly you need to man up and predict something beyond a one day time frame or your system isn’t worth paying anything for. Where will the market be in two weeks? I say you don’t know shit.
CHK coiled sping
Boingggggg!!!!!!!
Devil:
You have zero patience. The market is definitely going to trade lower at some point. However, that does not mean it’s going to happen right now.
You’re an idiot and you shall lose all of your mommies money.
Learn to play both sides of the tape and you will always eat. Knowing how to play only one side ensures your starvation.
Your welcome
fly, like I said you don’t know. I say new lows within 3 weeks. Sounds like you think 6 months. You’re an idiot and will lose all your long money.
donny and devildog need their own section. this is comedy gold.
donny is only allowed to talk in the 3rd person, though.
Fuckers want in!
Dog
Why the fuck are you trying to talk him into going short. What do you care? In fact if you think the market is going down to new lows you ought to stay quiet when you see a nest of longs as they will be throttling as it’s headed down. Are you lonely with that pos?
Any chance of adding an ‘ignore’ feature to weed out the yahoo message board type participants?
Aris … do you have a fucking problem with Trader Donny? You must be long commodity stocks today.
Trader Donny am nothing like that fucktarded moron, DevilDog. Trader Donny is neither bull nor bear, and considers himself to be an agnostic opportunist.
Does anyone have any info on how the LEH bond payoff/liquidation is going?
Could really tank the market….
“Donny wants the fucking volatility back … what fun to watch panic in the streets.
A tighter trading range is for pussies.”
http://www.seattlechoralcompany.org/Images/applause.jpg
Fly – maybe you’d consider a short function in the PPT? I can’t short to save my life. I guess I’m just not experienced enough to get out of my natural optimism and bulltarded ways. Also, I’d love to see a portfolio balancing function combined w trade alerts. For example, start w 100% cash:
Alert 1, Buy, Ticker XYZ @ $, Risk 3% of capital
Position(s): Cash 97%; Long XYZ 3%
Alert 2, Short, Ticker ABC @ $, Risk 1% of capital
Position(s): Cash 96%; Long XYZ 3%; Short ABC 1%
Alert 3, Buy, Ticker XYZ @ $, Risk additional 1%
Position(s): Cash 95%; Long XYZ 4%; Short ABC 1%
Alert 4, Sell, Ticker XYZ @ $, Exit position
Position(s): Cash 99%; Short ABC 1%
And maybe some major reversal alert, where all longs or shorts should be exited in the event of some market disruption.
Oh yeah, and some multiple touchpoint alert system (via web site, email, and SMS to phone simultaneously)
Can’t wait to sign up to the ppt. Should help me greatly.
______________
AAPL shitting the money bed
j,
Go tell it to your bartender. If you knew anything you wouldn’t have lost your job, your money and your green card.
And thanks, again, for leaving our country.
Off with the Fly’s mustache
Man battle stations, torpedo!
You bullshit long retards will get whats coming to you soon. Think of me stealing your money when it happens as I will be laughing my ass off. Bunch of losers.
There goes the DUG train, and sets Donny up for yet another Sweet Victory! Could be 5 in a row today!
Don’t forget you long retards that all the bad news is already baked in. What a bunch of dumb asses.
DD – you get your new ride yet?
I washed my Volvo yesterday. You’d think it was a ’97 it looks so good.
STFU anton.
You’re really annoying today.
“If you knew anything you” would have got out of the ” non-trading position” you finally admitted to. I’ve had a decent year and never had a down year in m career.
I’m using this opportunity of materials getting hit like crazy, and I bought TX at $11.5. I also might decide to buy the SLX, if it happens to get below 30, preferably 25. TX is a stock I will start to accumulate here for a LONG term hold for the IRA (Buffett style buy+hold). I’ve been waiting on this one to drop to these prices since steal started getting deballed.
Note how copper prices get hit, oil gets hit, other commodities get hit, baltic dry index gets hit, steal gets hit. This is one of two things. Either an indication of how serious the slow down may be, or unjustifiable fears of how serious the slow down may be.
Of course not all of these moves are justified. You can either be smart if you have a calculator brain, and take the time to figure things out, and hope you aren’t wrong… or you can buy commodities at lower prices and short stocks in other sectors at higher prices, and let the sort things out and forget about trying to figure if the prices are fairly marked down.
I’ve occasionally had some brilliant calls, and inclinations that make me all cocky, only to get humbled on my next trade by mother market.
Over the years, I’ve learned not to try to be a hero, unless things are absolutely clear.
Small position here, and just as I did with DRYS from 25 and lower, I will add to TX if it goes lower.
Y’all can join me if you are incredibly calm and patient, if you wish.
Dog
What level of the SP will you pull the pin and say I’m cutting as we’ve had enough?
Austard,
Nobody believes your “career” ever consisted of more than fetching coffee for your betters. And you couldn’t hold on to that. Please post more of your unintentionally hilarious advice.
Thanks, again, for leaving our country.
bought DUG this morning at the open $44.50, sold @ $46.50, looking to reload for this afternoon. Nice call Donny.
Aussie women have nice buppies. 🙂
Compare the price of steal to the price of gold. Time to short gold and buy steal.
Anton:
Dude, I’ll let you in on a secret. I don’t give a shit what you wanna believe.
And please post more about your ” non trading position” along with your buy and hold strategy as that’s doing awesome right now.
No players. No volume. When it picks up trade in its direction. Libor is old news. Volume and put/call ratio is the tell. I know the FLY hates this shit. Its just bullshit FLY don’t worry I’m a very dumb fuck.
I guess it’s time for old fart buffett to tell everyone to buy again.
silver looking interesting too.
Here’s a 2 yr performance chart of USO, GLD, SLV, SLX and the S&P.
http://finance.yahoo.com/echarts?s=uso#chart2:symbol=uso;range=2y;compare=gld+slx+slv+^dji;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Funny how everyone talked about oil, but no one about silver.
SLV, SLX, and S&P starting to look very cheap relative to GLD and USO.
Auswipe,
Please share the secret strategy that got you bounced from the financial profession all the way back to where you are now.
And thanks, again, for leaving our country.
lol, I’m not investing in steal.
shoot the link didn’t work, maybe it will work this way… click on my name for the link…
Otherwize if that doesn’t work just go to yahoo and make your own 2 year comparison.
S&P looks cheapest relatively speaking.
Only if you tell us how big your non trading position at its height compared to now, Ants.
You go first.
BOOMER, my F 430 is due in on 11/27 direct from the factory. Shipping schedules are sloppy however. Can’t wait.
bought DUG this morning at the open $44.50, sold @ $46.50, reloaded @ $45.50 for this afternoon. Nice call Donny.
PCX showing relative strength in the coal sector.
Auswipe,
Was and is more than you will see in your trailer park life. Now please explain how your wife felt when you were told, “things weren’t working out” with your former employer and you’d bungled your way right out of US employment.
Just tell the same story you cry to your bartender.
j, I’m patiently holding SHORT until S&P 720. Impatient retards like fly are playing pissant countertrends and will lose it all. Of course, fly will say he was short and banked egregious coin.
Ants:
Was it more and now is less than the cost of cohiba i smoke once a week? Dude we don’t have trailer parks here and i was raised in a comfortable middle class upbringing.
No ants, I wasn’t fired from any job despite your attempt at channeling.
Now tell us how much the buy and hold strategy cost ya as I’m really curious.
Dog
Where will you say you’re wrong though? What level?
Sometimes you just get lucky. Like when you are away from the market all morning and then get a chance to buy NOV, CHK, NRP and SDY in size.
Fuckers, NRP (the coal REIT) is (was) yielding 10%… I haven’t seen “such a deal” in hard anthracite assets since FDG was under $35.
Holy shit, it’s like Christmas in Connecticut. Where the fuck is Barbara Stanwyck?
-_____
Auswipe,
“…the cost of cohiba i smoke once a week…” Hilarious. Right up there with,
“In short, the man is an adiot.” Hard to believe you couldn’t make in the States. I’m sure they hated getting rid of the company ass clown.
ants:
I keep telling you that I was never fired. lol
Now tell us how much you’ve lost in your non trading account. You know the account that’s the one you sailed from 14,000 down to 8200.
Look lets stop this shit ok? it’s silly.