I warned you to sell out of the refiners and the oils. You chose to ignore me.
I warned you that commercial Re was due to get lambasted. You bought a building.
I warned you that WFC was fortune cookie. You opened up a new checking account.
I warned you against betting with the criminals at XOM. You drank Texas Tea.
Now, I am warning you to stay away, for this market is impossible to game. You can mess around with gold, oil, currencies and stocks until your head falls off. At the end of the day, the game is rigged.
I am working on a new investment thesis, which will be unveiled on Monday, exclusively on The PPT, which, incidentally, will launch on Monday. What a coincidence! It has a lot of do with gloom and doom and nothing to do with hanging out with men who wear 10 gallon hats.
At the end of the day, “The Fly” wins all the time, even when he is saddled with cash. For the day, I powered ahead, led by gain in my oil shorts. Frankly, today was my best day in more than a week, mainly due to my previous neutral stance.
I am sick of the rumor milling at CNBC and Realmoney.com.
If you enjoy the content at iBankCoin, please follow us on Twitter
Ha, everyone else is slow.
As I won’t be subscribing yet, best wishes for the PPT.
Monday is gonna be ill.
So you’re launching the PPT on the same day as the Great Crash of ’09?
Yes.
I followed your warnings and made money the last few weeks. Thank you. Looking forward to PPT launch. Re this last week– well done Sr. Fly.
At the end of the day, the game is rigged.
——————-
hows PPT is going to work then? Or will it accounts for that too?
newbie
The game will not be rigged forever. Sometimes it makes sense to wait for a kill, instead of bumbling around. PPT is decisively negative and has been forever.
…and kudos for a job well done this week Sr Tropicana.
Where have you been?
(snicker)
While its true the MM’s know what they are doing,,
the real question is,, do you??
(snicker)
Off to drink some rich mans whiskey with my FAS winnings. That trade worked out perfectly. God bless the PPT.
fly is god. game is rigged. good weekend to all.
repeat: gangsta rap request.
Cap, good call on FAS. That fucker played right into your hands.
Dedicated to today: http://www.youtube.com/watch?v=Y6ljFaKRTrI
Lack of clarity leads to a lack of confidence in their competence. Of course, being clear might lead us all to believe (as Cramer said) “they know nothing!” That lack of confidence seems to be keeping trends from forming.
The trends that have formed are stretched (either down (the obvious) or up (gold)). The snapbacks are too much for me in my timeframe, I’d probably tolerate it more if I could trade all day and watch every minute.
This looks like a big pivot point; I’ve tried stepping up on the oversold buy once this week and didn’t like the action afterwards, so I’m off of it. Will wait and see what the weekend brings and build a list in the meantime.
Commercial re: look at SPG.
Looking forward to the PPT.
Hope it’s set up to work in the coming goat-based economy.
Juice – serious question, do you really believe in UFO’s?
Still short the Euro? That was a wild reversal in currencies this afternoon.
Short GBP and short GBP/JPY – two big winners the last 6 months – look like they’re played out. Neither went down despite near panic conditions this week.
I disagree that everything is impossible to game. You can bet your ass that silver and gold are going to continue to go up, as will the dollar (UUP).
Though at the end of the day, the dollar is a trap to get as many people as possible into it, before it crashes overnight. Gold will become illegal to own and will be confiscated. Silver is about the only thing that’s left. Buy physical silver before everyone else comes to the same conclusion, above.
So the market shot up over a hundred points today when the White House said late in the day that it still backed a privately held banking system.
Interesting. Looks like WFC shot up 20% off it’s nasty lows during the announcement.
I wonder if that’s why Buffet didn’t drop his holdings there. He probably suspects they’ll still be in existance.
Fly,
THE TREND IS DOWN. That is all.
Plan for dollar death and its attendant fuckery.
Obama and the Tax Cheat will learn that if you play the Zimbabwe game, eventually, you get the Zimbabwean dollar.
Santelli for POTUS!
_________
thats a point good about silver, Bman.
as for the market:
the shit will soon be all on the table an we see a final washout… then buy and catch the rally (my tip starting week of 16.march) …. than sell again …
So do the open comments go away when th PPT is launched?
FLY – Please read******
The senate wants to tax traders! This is crazy
http://www.rallycongress.com/no2tradertax/1536
i like that new 250 000 000 dollar note …
not printed in germany anymore though …
http://formaementis.wordpress.com/2008/07/22/zimbabwe-introduces-a-new-100-billion-dollar-bank-note/
Fly,
Unless you would like to tell me your reason to avoid physical gold, I am planning to get some. And some Silver too. Please kindly elaborate your bearish thoughts on these commodities.
Mars.
C and BAC jumping around in the AH like Aroid (Arod) in front of the media.
Can anyone explain the action in SRS and the real estate indices today? Trying to be sure I understand before trading SRS on a pullback. I still expect weakness in CRE going forward even if the market rallies. Starting to finally see weakness in the residential rental market that has held up well during the housing bust. Job losses are just beginning to impact rents and vacancy rates.
http://en.wikipedia.org/wiki/Alberta_Premium
Best Whiskey you can get your face on.
Mars.
“Beware the Ides of March!”
I want this cave. Click my name’s link
Boom,
Shit must be tight for Devil Dawg if he’s got his bunker up for sale on Ebay.
And check out the location: “Festus, Missouri.”
ROFL.
___________
Boom, you will have to do all your trades on the Bat Phone and start a guano business! Maybe Dynamic Materials will trade shares for guano fetilizer to use in their explosives. 🙂
Trader,
The private banks are being bought up now by those who believe that the US government backs privatization of the banks, starting today and moving into after hours trading. Who knows on Monday. I suspect it will continue, which is why I’ve been building my positions there all along as they go down. The faster they go down, the more I go long.
It’s a high stakes game and I stand to either get creamed, or win big. I’m fairly battered at the moment because of this, but if they induce a squeeze, I’ll have my victory.
The Fed has always pulled some shit on a sunday night…..look back at the Bear Sterns deal…sunday night Bear went from 30.00ish friday, to 3.00 monday due to sunday night fuckery. Look back over the last year and see how many times the Fed pulled some shit on a sunday night.
Beware, this sunday night is poised to be another sunday night fuckery….
I’m all cash just because I think monday will be unknown…..
Boom,
That whole cave thing is sooooooo 1,000,000 B.C.
Trade up to the real estate that got us through the Cold War:
http://www.silohome.com/
http://www.roadsideamerica.com/story/16730
_________
Jake finally made a political comment I agree with:
“Rick Santelli for POTUS”
You are a river boat gambler
Holy Batcave!!
Does Alfred and Robin come with the deal.
Fly,
Probably, but it’s a calculated risk based on the assumption that there is a majority in government who see the inherent flaw in nationalization. The fed may pull some fuckery to stop it, but I don’t think the US will cave that easily. It will have to be through brute force. (Like that hasn’t already happened).
They will come up with a fancy acronym for nationalization, but that’s what it will be.
When it comes to the money, there’s one thing to remember. “Don’t tread on me”. There’s gonna be some hell to pay when this all comes out in the open.
The powers-that-be are going down their little checklist of options as far as what can be done with the megabanks. More of them are realizing that some form of nationalization is likely to be the best route through this minefield. We’ll lose some limbs at first but we are more likely to make it through this route than any other.
However, the minesweepers must be sent in first to absorb the brunt of the damage. I also call them bagholders.
Trade up to the real estate that got us through the Cold War:
With all due respect, the cool kids have Titan silos:
http://www.youtube.com/watch?v=bsYNgh43_js&feature=related
Ozark,
Nice analogy. I guess we will know soon enough who those bagholders will be.
Forbes or Romney for Prez. I rode FAZ from 48 to 78 despite a famous Wall Streeter, “The Fly”, saying the sector was not to be trusted. However, I could have done 10 times the trade, but, alas, I was chicken.
CAP… I went Castanza on FAS also……took The Fly’s advice and got the fuck out. Thanks
I’m starting to suspect the bagholders are those that will be caught short on the banking sector. After today’s announcement, citigroup jumped up and into after hours trading had a 40% increase off it’s low. It was because of a simple statement on White House sentiment.
Imagine how much power those kind of statements could have if they started becoming more forceful. Fly is right though, this is a very dangerous game. Making enemies with those who profit from nationalization isn’t healthy. But then again, it may not be so healthy for those who would brutally drive us into nationalization.
Before they take my Gold, I will give them all of my lead first.
Shorts, lol. They’ll have to pry it from your dead hands huh? You supposed to have guns in that sentence instead of gold. lol.
“…the cool kids have Titan silos…”
Ptaw! In Pakistan you can get one of those silos WITH THE MISSILE STILL IN IT for a few melons and a small boy.
Take that, “cool kids.”
Fox Moulder – you’re really asking me if I think there are any other planets in this infinitely large universe and all infinitely large universes, that have spawned intelligent life…. and that life has been around far longer than the humans of this earth & developed the means to travel this universe , cross universes, and hence is able to breach barriers of time and space.
yes.
http://www.youtube.com/watch?v=5zVEW4maZT4
I like your side 😉
You are cool..live here in switzerland…what a desaster with UBS!!
see next week more lows before we have a little rebound and go further to more lows target 6800 in DJ