Ultimately, the market is just a compilation of temporary feelings/ideas. I may have a bullish stance now; but that can change with any new data that paints a decidedly bad future. As an investor, it is important to have convictions. But, it is more important to avoid getting killed by them.
Do not let your stubbornness wipe out your bullshit accounts. Keep in mind, no matter how cool you may think you are or how nifty your trading system is: you are subject to error. You will be wrong. Do not let a few little mistakes put you on the street, in a very bad homeless situation.
With that being said, “The Fly” intends to spend his day pushing idiots filled with hubris into murder holes, as the market melts their fucking faces off with florescent pink blow torches. I have no feelings for these people, one way or another. I just toss them aside, into pits filled with snapping alligators, whenever they get within 5 feet of my shadow.
With my money, believe it or not, I may take some profits today. My gains will be north of 60%, after this mornings push higher. And, I feel like getting small.
Still, I will keep the majority of my positions. Moreover, I may even buy some new shit, via The PPT. Nonetheless, sometimes it’s important to claim victory, book profits, then reevaluate where money can be best allocated.
In my opinion, without a doubt, the long side is where you need to be right now.
UPDATE: I took profits on The Mosaic Company [[MOS]] , selling 3/4ths of my positions, north of $36.5
UPDATE II: I sold all of my [[EEM]] position, north of $24.5, all of my [[ROM]] position, north of $28.5 and all of my [[DIG]] position, north of $33.5
UPDATE III: I sold 25% of my [[UYG]] position, north of $9.25.
NOTE: I wanted to rebuild my cash levels to a robust level and I have accomplished just that. I am done selling for the day. Year to date, I am up more than 63%. I will spend the cash on a dip.
If you enjoy the content at iBankCoin, please follow us on Twitter
You and Howard both sound battle fatigued.
Market is a shit sandwich.
Off to the bowling alley.
Bumped from previous thread:
SLW, SIL, shit, anything that can kill werewolves, is “BTFO.”
Historical opportunities here, fuckers.
_________
“Battle Fatigued”?
WTF are you talking about. I’m pushing bears into murder holes.
Don’t, what ever you do, take any friggen prisoners, Fly. I want to see you walking out of there with the blood of these demons (and devildog) everywhere. Suck out the last breath until they’re in the 8th circle of hell.
Jake just got some…what was the Ellis Co. symbol?
Fly just funnin….you know your the man….what did you think of Ackman [sic] that is one cold blooded mofo?
Fly, Nicely said…after all…how many bowls of rice can one Chinaman eat?
The Plan:
Send this son of a bitch to the moon today, that’s the plan!
How’s your penis tasting, cockbreath?
Jeffrey Cooper
09:19:48 AM
No positions in stocks mentioned.
3 Point Trendlines
Today I showed a 10 minute chart of the S&P in my report (3 pt trendline).
Click to enlarge
The convergence of 3 trendlines at 971 combined with what I offered on the Buzz yesterday shows:
1) An overthrow of the 20dma
2) A .618 retrace of from the October 14th pivot high to the 840 low
3) A 3rd potential Cha in the FOMC Cha Cha Cha pattern
That is why I indicated that if 970 were rejected I expected a move all the way back down to or below the low of the session.
There seems to be a universal agreement now that this rally has legs and that it will be better than the first rally off the October 10th low. That seems undeniable although the course and direction of such a rally phase is likely to be anything than a straight line. If you are looking for certain here, you are looking in the wrong place.
Be that as it may, the larger question is what will play out once a larger rally than heretofore unfolds.
“In my opinion, without a doubt, the long side is where you need to be right now.”
“I sold all of my (EEM: 24.62 +8.94%) position, north of $24.5, all of my (ROM: 28.10 +6.68%) position, north of $28.5 and all of my (DIG: 34.25 +8.97%) position, north of $33.5”
And you sell all of your long positions despite being convinced that being long is the way to go. LOL
I have no power of concentration whatsoever when Margaret Brennan is on tv. I don’t hear a damn thing she’s saying.
KC — you mean CB Richard Ellis? The commercial real estate folks?
CBG is their symbol, and they are up pretty nicely today.
What brought that to your attention?
_______
Russell standing RIGHT on the breakout of it’s downtrend channel here. A break of 505.60 or so (say anything over 506) is “home free” territory.
Of course, this is also an extremely vulnerable point.
________
CAP:
I said I wanted to get smaller. It is a matter of risk management. I am not shorting, just rebuilding some cash levels.
I still own truckloads of UYG, M, NOV and a variety of names.
It never hurts taking a profit.
Steph–
It’s comments like that that keep forcing me to call you Steve. Many apologies.
As a peace offering, you’ll probably appreciate this online “love letter.”
Also, I am wondering if you are perhaps also a big fan of “Law & Order, Special Victims Unit?”
I was intrigued to find that SVU woman was Jayne Mansfield’s daughter.
__________
It does hurt taking a profit at the wrong time, fly. Profits pay for losses too, amongst other things. But you never take losses so the point is redundant.
Steph:
She looks like she has a food disorder. Is she anorexic?
Senor Fly, I know investors and you are not one – you are a speculator. Some say a gambler, even, but I would not go that far.
Jake… hold your horses there bro. Marge is not the prettiest woman on TV.
This gal is. The frog news anchor. Looking at her you know there is a God and he was having a good day when she was conceived.
http://www.youtube.com/watch?v=j1G-3laJJP0
trailing stop just hit on GS shorts. I had it real tight. Interesting that MS is holding up. I guess it has been beat down too much.
AAPL shorts kicking me in the ass.
I am neither, Good Sir. I am a fucking coin banker.
You can keep the investor/speculator titles for you and your homo friends on the golf course.
J-
You are right my man. She is beautiful. I could watch that all day even though I can’t understand a word she is saying.
Fly you flatter yourself with that “investor” garbage. You are an inveterate gambler playing with OPM.
Always remember, no matter how hot the chick is, there is always a guy out there who is tired of fu*king her.
J- yes, she is very easy on the eyes…but seems like she suffers from a touch of ‘nostril-itis’.
Anyone looking for a bounce in FXP?
“scum bucket Says:
Fly you flatter yourself with that “investor” garbage. You are an inveterate gambler playing with OPM.”
‘inveterate’ Wow, thats a fancy word. Looks like the scum bucket household is finally rich enough to afford a dictionary.
Look at that.
You learn something new every day.
_______
Fuck “inveterate.”
I prefer the more descriptive: “degenerate.”
_______
T. Boone is talking about $100 on crude.
Forget it fuckers! Crude is going to the absolute shit hole. We’re gonna bankrupt that fat cockroach down in Venezuela, the moon gawd loving piece of shit in Iran too.
Scum Bucket swallowed a thesaurus this morning. He’s a stupid man. There is no way that word was in his vocab.
By the way, despite my bullish rhetoric, my cash levels are back above 50%.
If any of you pikers are looking for a trade
SYNA looks like it will shoot through 30.
Go bank some coin
If SPY hits 94 I will reinvest more, I think the ES is going to the 1020s by tomorrow…
Also, I nibbling at UYG…
See you in hell, sycophantic bitches!
This market is high-top fading:
http://i106.photobucket.com/albums/m257/safari416/IceSweetspresent58AA63.jpg
Watch for stocks to decouple from this previously gay market. In other words good stocks
will trade higher poor stocks will still be doomed. No more all up or all down it’s back to picking stocks.
T. Boone and that other Old Fucker, T. Warren, and that other one, Kerkorian, ought to sell out and join those homos on the golf course, no?
While some would wait for a break of 30 to get in SYNA
I’m buying 29 area like an idiot!
I prefer GUT trading and my gut says SYNA through 30 faster than a “scolded chip” as some bald fuck on TV says.
Yes Jake, I’m a fan of Mariska as well.