There is poetry and symbolism being represented in stocks today, despite the grand party in Washington. While millions of hapless dogs celebrate one man in D.C., millions of fucktarded, dick faced bullshitters are having their portfolios microwaved today, as banks march to zero.
From STT to AIB to BAC to C to WFC to JPM, times are tough for the optimistic type.
I know many of you assholes were convinced that God himself would not allow such a trading day, while President Barack the Builder celebrated like it was 1999 in Washington. Forcefully, you left messages on “The Fly’s” blog, pertaining to the bullish nature of stocks and pointed out that a new bull market was upon us.
You told your friends and family members to buy mutual funds and dastardly bank stocks, due to the inherent belief that our Federal Government could make things better with a snap of the hand.
However, as your face gets melted off by Chinese roman candles, you now realize the error in your ways. You want to apologize to your friends and family. You want to beg forgiveness to “The Fly” for being such a blockheaded dick; but it’s too late.
“The Fly” does not accept your apology. Instead, he will chuckle at you, while large capital losses sack the entirety of your bullshit internet brokerage account.
There is an old saying that can be applied to such arduous times. It goes: “The Fly wins all the time, even when he appears to be losing badly.”
Most ignore such sayings, and discard them as “urban legend or fantasy.” However, for the select few, the chosen ones, those words are golden and quite useful, especially when it comes to the business of buying new cars or other important shit, from the proceeds of egregious stock market gains.
As for the market:
I sold the rest of my FAZ, north of $75. My cash position is now 92%. Barring some sort of miracle, I will sit out the rest of the trading day, while eating sandwiches. In other words, I do not trust this tape and want no part of it.
Sometime soon, I will sell all of my shorts, which include EEV, SRS, and REW. And, furthermore, I may initiate a new short position in XOM, just for old times.
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We’re Fucked boys and girls. It’s that simple.
Glad to see you are winning graciously, Fly.
Awesome blog. Highlight of my day.
Can I ask you what brokerage you use or recommend?
Thanks. Greatly appreciate your work.
Thank you, Mr. Solomon. Glad you could make it to “The Fly’s” inauguration.
“Chinese roman candles”…boy, you are surely priceless, Senor Tropicana.
I’d like a nice rally to get back in cheaper in FAZ, SRS, & company… c’mon obama, spark a one day mega rally!
Actually Mr. Fly pretty well everbody here is bearish but hey, nice rant anyway.
Chrysler selling 35% of itself for $0.
Good times.
I have listened to the Flea man, I have learned, and now I have won. Thankyou Mr. Fly… I too am sitting on at least 95% cash after following your lead out of FAZ, I too am up 11% year to date. Not to gloat, but I laugh at dim witted Bulls everywhere….
no. everyone was bullish last week.
God’s bank, JPM under $20. UK essentially insolvent. VIX looking ready to spike. Holding shorts from Friday close.
Since we are broke we want to be your friends. Before this is over BRKA might be a Ponzi Scheme. Hey the Cards are going to the super bowl. Anything can happen.
From the “That was quick department” —
GAHHHH!
_________
Where is the dog?
I got my vengeance for the Steelers winning and the Eagles losing by PNC going down 50% from when I bought puts. PNC bank execs probably were riding around on motorcycles without helmets. Seems to be a popular thing to do there.
US now has more government jobs than manufacturing jobs.
I just averaged in on BGU and QLD
Something is afoot with the banks.
Fly,
You might not want to sit this one out.
Signorelli Fibonacci just called me, and pointed out that his near term SPY charts (low 11/21 @$74.34 to high on 1/6/09 @ $94.45) show the 61.8% retrace (ie, the strong line, or “the golden number”) at $82.03.
Low of the day, thus far $82.10.
Could get a significant Obamabounce here.
Or ovah heah.
_____________
Obamafest is nearly over. Hope is not a viable investment plan.
I don’t see Obama permitting another big leg down in the market during his first week. He will hit the ground running and temporarily prop mother market up for a little longer.
I am eating a late lunch of Hope sandwiches washed down with Yes We Can juice.
Delicioso…
fly o fly must you swoop through the hood
like everybody in the hood, is up to no good…
love how MO just marches along, smokers delight.
Anxiously awaiting my first big packet of fluffy food stamps.
Have “thank you” card to the Messiah ready.
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Remember, it ain’t over ’til the Euro is implodered:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4294577/The-euro-is-torture-instrument-for-Spain.html
Where is Devildog?
Jake dont forget to send Fly one of those thank you cards
.
Shit, we are going down big time; the village idiot (devildog) is not posting.
You’re out of XOM? I thought you were calling that to go to $50 or some such.
we need to see s&p 799
I’m making money but I’m not happy at all. The market is telling us that we’re supremely fucked.
Banks WILL be nationalized.
Capital will now be allocated by civil servants (shudder at the thought).
Earnings multiples will come down accordingly.
FAS is a screaming buy here on a dead Obama bounce
Only Chuck Connors can save us now.
Lady G – shouldn’t you be doing someone’s personal shopping?
There goes 820. Who knew?
Devil Dog, that’s who!!
This is just great. I’m short a bullshit commercial re stock and it’s been up the last few days. Manipulators…small float. This stock is back to it’s mid-October price. Ridiculous.
Kevin Joseph Aloysius “Chuck” “The Rifleman” Connors, from Brooklyn, RIP.
Unless he’s reincarnated or a zombie, we’re all doomed.
Watch out! Here comes the PPT.
You heard that speech “The Fly”?
You have to help out people instead of chuckling at when someone is drowning on your feet.
Whos going to buy RBS at 3:00ish? Watch for HUGE SHORT COVERING near the close… I will ride that wave
Fly Jr…go clean your room and while your at it…go find your Daddy’s Obama/Biden button and let’s auction it off here on IBC, autographed of course by Fly and Fly Jr.
PS Jr…I love to shop!
.
The Magic One said for you people to get to work. Did you think that he was Merlin? One of the first projects is a bicycle path on Fly’s street so Fly will be able to commute and save carbon at the same time. Kim Jong IL was never as over exposed as this Obama character.
So what odds do you give they stretch these two days into a four day weekend at some point?
You know, Martin’s Day, then Messiah’s (Inauguration) Day?
Prolly turn it into a “furlough day.”
++++++++++++
Yes, we can. Fly and I can get a tandem bicycle (me in the back) so we can commute to work together.
Personally, I hope we all get to build algae farms on Tom Brokaw’s Montana ranch for the “Celebration of the One.”
I support a national holiday to honor Gary Coleman.
I’m a homo
I have the perfect job for all traders soon to be out of work via the transaction tax.
Chipping and carving out the new Obama face at Mt. Rushmore
.
No, I’m not. You are.
Dwight Eisenhower gave a lovely Inauguration Speech today, didn’t he?
I hope VP Richard Nixon gets a shave, though.
http://www.nascrack.com, some sick shit.
Art from around the world:
http://www.guardian.co.uk/business/gallery/2009/jan/16/unsold-cars?picture=341883529
Goodbye 8000, I hope we see you again soon.