I’m doing a nice jig in my office right now.
I don’t care about FASB rule changes or what certain asshole television personalities declare on the teevee. I do not invest for one day or even 10. I am creating art here, assholes. Whether you know it or not, I am here to tell you.
Sure, it would have been nice to catch the entirety of this run. Sure, it would have been pleasant to not deal with getting stabbed in the eyes, via FAZ/SRS assaults. However, this is not the last day of trading for the market. There will be plenty of trades to nail and some to get body slammed on. Life is all about kicking your neighbor down an idle sewer pipe.
If you got caught short, instead of wallowing in the shower, crying like a little bitch, get out there and punch someone in the nose, then buy some stocks. It’s important to be objective when trading/investing.
As for me: I bought a variety of tech stocks this morning (CIEN, EZCH, ISIL, NIHD), giving me an overweight position on the long side. I still have my FAZ/SRS horror show going on. As a matter of fact, I nibbled, like a small rat inside of a can made from 100% sweet corn, at a little more FAZ in the low $17’s.
Fuck it.
With oil up here, I got lazy and went long ERX, instead of cherry picking some individual names. In addition, I sold out of the 5,000 SPIL that I bought yesterday for a 10% win.
As for some of you retards: Going into today, I was 90% cash, long 2k of FAZ/SRS a piece, long 5k SPIL and 2k TLT—giving me a morning net loss of 8k.
I PISS ON 8k.
Shut the fuck up and recognize that you are unable to ever beat me. Don’t get me wrong. You may outperform “The Fly” for short periods of time. However, before you know it, HORATIO CLAWHAMMER is chasing you with an oversized, umm, clawhammer—attempting to make art of the concrete, using your brains.
NOTE: For the first time in a long time, The PPT Overall score is above 3 (buy). In short, every previous score of 3 was marked by a near term top in the markets. Of course, this time can be different. However, I thought it was worth mentioning.
UPDATE: I sold 5,000 NIHD @ $17.40—day trade.
UPDATE II: I bought another 2,000 FAZ @ $17.70
UPDATE III: I bought 5,000 TLAB @ $4.98.
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Lots of trapped shorts. I think the Dow has another 400-500 points of upside. S&P probably good to 875. Todays momentum should carry on for the next few days. Mondays slide was a gift to get long. TNA could have been bought under $16. Over $21 today.
Fly,
Do you have a contingency plan for PPT billing when the banks lower everyone’s credit card limit to $100.00?
Fly pisses on 8K
Okay, I’m trapped short. I can cover here or close my eyes for a week and check again. Fuck, I’m leaning towards closing my eyes.
“…attempting to make art of the concrete, using your brains.”
HA!! Hilarious.
The Fly is God.
what’s the big deal about changing mark to market. Its still toxic assests with lip stick. It wont matter.
this is a BS rally
Hey Jake, gold is looking awesome. You and “the FLY is GOD” are great contrary indicators. Let me know when you turn bearish on gold so I can sell my extremely in the green DZZ and wait for the retrace. TIA!
Fly, you brought smiles and giggles to my cubicle! I am sticking with SPIL.
Cheers
Devil Dog – You have a lot of shit to say. Why don’t you start a blog where people who care can read it or shut the fuck up already?
A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks
Can’t we all just git along ?!?!?!
.
Devil dog still plays ring,ding ditch
DEVILDOG — hurry up and talk some shit about Dow 5000 happening next week. I am trapped short and holding firm and need your crazy ass pep talk to bring me off the ledge.
thanks for cheering me up…..funny
I went to deposit all the money I’ve made off of this rally and the cashier said that they couldn’t accept it. When I asked why, she said that it was all made off of a BS rally.
So, I just chucked it into the garbage can on my way out.
so you have 40M under assets?
Devil dog Queefs and pulls the sheets over his head.
Fly — You’re sooo full of it. Dancing on a bed of hotcoals, changing with every tentative step.
Who other than your lemming devotees would pay for PPT when every prescription on IBC contradicts the day before? What insight do you have to offer? Your bs algorithms obviously yield no useful guidance, because you have so many self-admitted loser trades.
Great writing, but useless (or for your flock, dangerous) guidance.
Maybe we can get to 9000 by Monday on the DOW. Come on Dennis lets start cheering it on!
Dance, bitch, dance …. reminds me of those crazy nobles in the Middle Ages holding masqued balls and dancing away while the Black Plague decimates everyone outside their walled estates.
I’m wary of anything giddy. Buy the rumor, sell the news, riiiight???? I’m sticking with my May puts, in the meantime, party on like it’s 2009.
Gods bank JPM well off its highs.
oh what the hell. I just shorted some SPG here.
Gappy, get short the minute CNBC puts the “octobox” up to cheer on the rally. Great contrary indicator.
@shortPPT, if you get to know Fly for a while, maybe you’ll understand that his stream of conciousness rants on the market are not day-trading advice. “Sarcasm” ought to be Fly’s middle name.
SRS is kicking me in the teeth. I don’t believe the recovery story for real estate. Buying a little more at 47.75 to average down
Fuck it eventually I will win
Was Bill Siedman nodding out on national TV ?
.
SRS just broke thru it’s long time bottom of 48.00 to now 47.59.
t moe, i don’t know how many shares your buying comparedt o how much you’re willing to invest in SRS, but it seems like you’re buying too much too quickly. care to elaborate?
Boca, we are in a massive V shaped recovery. Did you see the amount of jobs we gained?
boca…agree Fly rants (and most entertainly, love his stuff), but he’s marketing PPT as useful and he’s the living example that it’s not – n’est pas?
Maybe duct tape would help, sealing the lips. But then he wouldn’t have IBC, catch 22.
jpm going down the toilet
Shortppt:
Your jargon nor readership is required here. Feel free to go visit some other 3rd rate blog.
The PPT is what it is. I do not monopolize all of the glory that it possesses. Nor do I claim to be right every day. I am right over the long haul, consistently. Watch me.
I created it (PPT) and people do what they like with it.
Why don’t you ask around and see what people think, prior to making judgments.
As for me: Well, if you do not take me at my word, there is not point in debating you. I have named my positions over and over for weeks. If you do not believe them, fuck off. If you do, then what the fuck are you beefing about?
what’s for lunch today fly?
no lunch.
too busy.
shortppt, I don’t worry about how he markets the PPT. When I sign up I will view it as my responsibility to find a way to utilize it within my own trading style. Lots of trading styles around, just do what is best for you. Besides, to me the attraction is mainly being able to get personalized attention and advice from people who actually trade for a living. Also Fly has a soft spot for picking stocks, which is one of my few trading talents, so I really like reading his take on individual equities and sectors.
I could get very caught up in thinking about or reacting to how other people trade, the ultimate example of that is the torrent of comments on Twitter. But the real challenge is to stay focused on my long term picks, and my short-term trades and not lose my focus on my own trading style.
Believe your positions Fly and respect your knowledge and experience and willingness to expose, but your insight’s no better than mine, and i have no followers.
You’re 50/50 right/wrong, with great explications for each belief any given day.
Whatever. Have a godly day
Shortppt clearly either can’t read or can’t do math.
HAHAHA Gapping, why yes I did notice, in fact I’m gonna get me 2 or 3 additional jobs today from all those extra jobs floating around unfilled in our economy. LOL too funny.
JPM shitting on the dog here…a reversal here would be catastrophic for banks..and mkt..long alittle FAZ after dumping a small somalian pirate boat full of FAS
Vix only down 62 cents on the day. Shorts will get pants’d soon.
Not buying too much. Mostly buying 100 to 150 shares at a time. I am not as big time as the fly. Been Averaging into this fucker since 75. I think when this fucker turns it goes back to 100. Own about 700 shares now
Shortppt:
Your handle is very insulting if I might say so. I appreciate the candor. Actually, you’re right, I don’t day trade anymore and do not pride myself on % of trades won. In the past, I’d go for the .900 avg. My strengths lies in my ability to catch inflection point and utilize my assets to average into trades.
got out of FAZ for $1 gain, will buy lower once FASB dust settles
Fuckers are buying up short ETFS on weakness. You woulda thunk?
http://online.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html
“It is always by way of pain one arrives at pleasure.”
– Marquis de Sade
But, it’s not working.
I’m long SRS & short ICE I feel the pain, but not the pleasure
WTF???
Fly sez: I bot 2,000 ERX @ 26.+….
Why you coked up son of a bi–…!
Ahhhh! All’s forgiven! Get in the jeep, I’ve got the hookers in back!
_____________
I keep wondering when reality is going to set in for the general stock buying public and warehouse type firms. Things are in the crapper plain and simple. I was at our county offices this AM and learned that there is not a solitary building permit pulled for a new house in the entire county. Not one. There are 3 remodel permits out and 2 permits for garage/pole barn type structures.
Let’s see here……roughly 40 local home builders with no work, then add subs for mechanical, plumbing, electrical, drywallers, painters, floor covering types, landscapers, well drillers, septic guys and gals, roofers, etc. Then factor in all the lumberyards cutting staff and sitting there with no one coming in the door. All of those people are living on vastly reduced income and NOT BUYING ANYTHING…..
And the stupid market is going up?
Howzat work?
NTRS leading banks down. JPm too.
HAHAHAHAHAHAHAHAHAHAH
Oh, and Fly? Get in some MON, too.
I know, I know, that stupid MF has stumbled on an acorn. He must have been reading these posts for a long time.
Nonetheless, MON is bank for at least the next couple of weeks.
____________
I’ll watch for your inflection point calls.
Merci beaucoup for your continuing blog.
Fuckers are buying up short ETFS on weakness. You woulda thunk?
Two things,
1) that was yesterday’s tape.
2) I would not characterize those low flows as “buying on weakness” to any significant effect. You want to see multiples of those flows.
Seriously, you do not want short ETF’s here. Not yet.
________
Hey Jake, gold is looking awesome. You and “the FLY is GOD” are great contrary indicators. Let me know when you turn bearish on gold so I can sell my extremely in the green DZZ and wait for the retrace. TIA!
No, thank you for being my contrary indicator of the year. Please continue to “back the truck up” on DZZ– at least until your breakeven point. Your economic analysis — that there will be reflation in all assets save the precious metals — is as brilliant as most of your posts here.
Now, get out of my MON before you screw that up for me.
____________
Jake
i disagree. You DID NOT want short etf’s YESTERDAY. However, nibbling here, in my opinion, is worth a shot.
look at MS lagging on the downgrade from Credit Suisse. I got short earlier at 24.30 with tight stop
SRS getting crushed. New 52 week low
test
This reversal coincided strangely with the get the noose rhetoric around here. Sweet.
VIX hardly moving in the big rally???
Fly, if you want to nibble very quietly, very silently, like a slow moving ‘possum in an aluminum cylinder of mustard wort, then, okay, it’s probably worth the hedge.
However, I think it’s too early to short hammer this bamboozelry.
(no offense to Woody)
______________
Hang onto your shorts SmallFry, the pain will stop at about SnP 1100.
new housing etf– UMM, DMM, coming soon.
Pretty funny.
SRS kicking my ass big time, big time, big time
Down from 111 to 46 in 4 weeks time ouch!!!!
Geez, Devildog is pretty proud of himself considering he has claimed gold will go to $600 or (surely he jests) $200, and POG is still $900+ (a loss of almost 3 whole percent!). Yep, you sure could have made a tiny bit of money shorting gold today, and if you did, good for you. But this ‘mark to market’ hocus-pocus should only fool the fools, and even then only for a short period, as even idiots have eyes. When POG drops to $600/oz, then you can talk DD, otherwise enjoy your dead cat bounce while it lasts.
Recession is over wow!what real estate problems?
T Moe
you once referenced Jesse Livermore (probably more than once) but when the trade went against him he advised cut losses to preserve capital. FWIW res real estate picking up here in Florida much more activity…SRS may keep goind down due to all the stimulus and potential inflation UMM might be a great trade this year….good luck
UMM / DMM invented by Shiller.
It can’t lose, right?
http://en.wikipedia.org/wiki/Case-Shiller_index
Best part is that it is not backed by RE. Only Treasuries. Go figure.
Back in FAZ at 17.30 and SRS at 46.01…
And I love PAYX…drifting higher despite official unemployment climbing towards double digits. Sooooo much demand for their payroll services…
That stock ticker is now officially MOFO.
Dirty, dirty MOFO who made me cover my stupid ass short for my worst loss of the year…
FUCK YOU MOFO!!
I’m with DD on Gold. You can’t buy groceries with a gold nugget and you can’t by stocks either.
da Fleaster capitulates on twitter … like a real man 8)
The_Real_Fly@DougKass This pains me greatly—nice call.
fool Says:
I’m with DD on Gold. You can’t buy groceries with a gold nugget and you can’t by stocks either.
April 2nd, 2009 at 12:42 pm Vote: 0 0
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but you can make sarcophagus lids out of the stuff.
Meredith Whitney just out with “Core capital liquidity fundamentals are getting worse at the banks”
Soon to be dead cows not listening though…..definatley developing 😉
Hang in there shorts… the tide will turn soon. But I would take of advantage of the coming pull back to get out. Think we will see some choppy sideways action for awhile after everybody that was out has jumped back in to the market to some degree. This over exuberance is heartening as it tells me we we still have what it takes to create another bubble masterpiece.
fly was actually right : he said start SRS at small size. the market was clearly looking like it would make a turn, everyone was talking about it, and it did, and then there was a little skirmish. and the bulls won for now. its riskier to play turnarounds, simple fact.
I did a very small SRS position, added some then removed that higher because of increasing bullish signs.
coincidentally my whole SRS loss (took this morning in the pre-market thank you) was EXACTLY the size of today’s overnight POT win.
my POT cost basis was 3 times the size of my SRS because the bulls won so I increased size in that direction.
(thank you Fly for the POT and materials tip, though I did spend a long time scouring the balance sheets trying to really learn this shit. I wanna be a fundie)
the bulls won that very tricky zig-zag. that clears them for a spell I think. I won’t stay overnight though for now. top of a historical mini-rally is not the time to rest. but the one bear attack got fought off.
ACC: win
WRI: win
NSM: breakeven and Fly seems to have forgotten about it. PPT says puke on it now.
the market is a bitch, and its a multi-verse not a single up down thing. playing it up/down is dumb. even playing CRE up/down is simplistic.
bill seidman’s full diaper is the reason i shorted the market in march last year. i went from $1000 to $500,000
bill what do you think??
WHAT?! NO MY DIAPERS FULL!!! I NEED ANOTHER DRINK!!!!!!