No respite. No mercy.
I have given you plebs fair warning to cover your shorts and play the upside. Some of you, wildly and cantankerously, posted stupid charts in The Peanut Gallery, rationalizing your wrongness. “The Fly” was wrong, with regards to his short positions, three weeks ago. However, thanks to his “calculator brain” and space alien magician ways, he corrected his blunder—allowing him to reacquire all lost coin and more.
See, that’s what I am all about, while you are just some guy with a ruler and a pencil, trying to chart your life into something better. Life will continue to suck for you, sadly enough, because your gene pool is tainted with idiot DNA.
As for today’s trading:
It will be splendorous. The economy retrenched to the tune of 6.1% in Q1 of ’09. However, consumption was up, and that’s all that matters. Everyone knows Jan-Feb was dreadful. People with sense are focusing on the obvious uptick now, dating back to March. The big question: when will the inventory restocking cease? Will the economy continue to reflate and if so, when will the recession end?
Luckily, for the bulls, these questions cannot be answered now. We will have to keep a mindful eye on consumption and factory data, prior to making a determination.
In the meantime, feel free to press the hot blade of upward momentum upon the necks of the stubborn, the destitute. Let us rejoice, via large buy orders of DELL, CROX, ATHR, BRCD, ERX, PCX, SONS, WRES, ARUN, CAVM even LVLT, dammit.
The time for being a loser is over. Go do something productive, else get “Dykstra’d” in short order.
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T MOE is stopped out of his short MCO position for a loss. That fucker!!!!
TSM…might I add…thrusting higher like credit card delinquency rates….Hoo Rah- Sempre-Fi
Fly
You still have ALU or did you sell it?
Hey Fly,
Are you scaling your longs or are you still adding new capital?
This consolidation in the past 2 weeks is awfully bullish if you ask me.
I am thinking about buying ERTS…May call options exploding..
Consumption and spending increased due to 2008 income tax refund checks that are being received. This of course is a one time event. Hell, I have a buddy of mine get $5,000 back this year, and he already spent it putting in new tile in his bathrooms. Look at the chart for the same period in 2008, big move up from mid March 2008 to late May 2008, then the hammer dropped as people spent all of their tax money and the checks ended. the same will happen this time.
Things are not getting any better on the job front. No jobs, no spending
maw in the back room doing something nasty to Amazon, all sorts of smoke and shit coming out from under the door.
Market will continue to go up as long as there is more and more bad news. The moment you start to see good news, then you need to worry and dump shares.
just under 12k down now…
System Booked 9% gain in EDC and sold at the open
System Booked .99% gain in SPY and sold at the open
Still recommending FXC (up 2.5%), BZF (up 1.35%).
System buy of FAZ at the open is down 2.47%
58% of system account in cash.
The Fly is God.
Henry Fool, your SWHC is now 7.20…… you were on that play when it was less than 2.00….. that was a good call.
also RGR on fire today, up 18%
on other news,
on the housing front, I drive by “new” developments as I drive on my rounds. There is what I call my “ground zero” development about 2 miles up the road from me. It was started in 2006 and the developer cut the land up into 108 lots (approx 3/4 acre each) and it is a “restricted” home site development, meaning the association has to approve your house plan before you can build (minimum 3500 sq. ft.). The builder built 7 houses on spec to get the “look” and devlopment started. He finished the last house in april of 2008. Only 2 of these houses sold, the other 5 are still empty and none of the lots have sold. for sale signs are still all over the place. These houses are $800,000.00 to $1,000,000.00 each.
This is my benchmark for when the housing situation actually gets better, so far nothing has sold and thus nothing is better. These asshat news hosts can blab all they want about “numbers” and shit showing “signs” that shit is better, but until I see these 5 houses sold and the remaining 101 lots sold and houses started on them, nothing has improved.
carry on.
sorry all, this rally is long in the tooth and will come to a halting crash very soon. 780 coming on the S&P sooner rather than later.
UNG can be played from these levels. I am in at 13.18 as posted on Friday.
IYR is up way more than the underlying shares .. either the shares will catch up or market makers are shorting to the public .. or both
just interesting
anyone here seen the new Aston Martin “one 77”?
Sweeeeeeettt…..
UNG is a good call.
S looks ready to pop
FAZ getting crushed once again.
S&P resistance at 872. Lets see if it breaks through and continues to spit on us bears
Does this mean Josh will stop giving you market advice, albeit temporarily?
Meanwhile, back in Chiner (sic):
Eureka! There’s Molybdenum in Them Thar Hills!
__________
Fixed
Overhead
Monetary
Camshaft
just sayin’
And a ROFL for good measure.
Risk trade is back. Money finding its way to high beta sectors. Financials, biotech, tech, commercial RE. Defensive sectors are lagging. People are willing to take more risk in the face of this rally.
Will it be high risk high reward or will the herd meet the hammer soon?
as predicted 12 minutes ago…S just popped…going to $4.50
maw in the back room doing something nasty to Amazon, all sorts of smoke and shit coming out from under the door.
If Maw sees anything near $80, she’d better tuck tail and GTFO.
_______
Fly –
While its true my stupid trading acct has taken it in the shorts the last few weeks due my short bias I’ve taken your advice and hedged with some longs. However, I agree w/ TMoe – watch what happens after this month(maybe next) of refund check spending. Also watch the average 401K Joe Blow convert to cash as many have finally regained at least half of what they lost in the last 1-2 months & go to cash. Who cares about 1 – 2% redemption fees when you can lose half of your retirement in a matter of months.
It’s good being me. Fuckers.
Artist — where them houses at? That’s important.
___________
Word is, Fly holds the mortgage on DD’s Monday only blog.
Foreclosure imminent? Or will he just add a couple of years onto the indentured servitude?
_______
UNG is stoopid. Just like USO. It will eat your capital while a random walk versus whatever the underlying commodity is doing. stay away
SVVS
The Networkers are back!!
Until NEM stops going down after it gaps up at the open because of higher physicals buying gold stocks is not a good idea.
JDSU to $350. Just like 1999.
The Fly left a comment for the SEC in support of the SEC uptick reintroduction.
(To be read in the spirit of MrKCBills comments vs. Jed).
I can hear some of you sneezing and coughing through the internet.
Please keep the swine flu to yourself.
Plain vanilla long only peabrains like Bill Miller think the economic stability from inventory restocking can stretch to next spring when an uptick in housing and autos will do the heavy lifting of economic recovery.
It’s all good in the land of goldilocks, mustard seeds, green shoots, and blue skies.
Just ignore increased protectionism. Higher taxes. More regulation. Interest rates that can only go up. Potential for inflation.
Joey –
Don’t forget Carbon Capping (wait til you see those ute bills, and inflation? Fughedaboudit) and Nationalized Health Care with “cost containment.”
Thanks again, Arlen.
___________
Travel and leisure on fire
UUP just tackled a couple of doddering old Bear fuckers in leg braces and dove down a nearby elevator shaft.
Noooooooooooooooooooooooooo….. (Plop!)
_________
This is so fuckin fun!
50,000 shares of DVAX
30,000 shares of CROX
6000 shares of SFLY
3000 shares of ANCI
10000 shares of CFK
4000 shares of FEED
4000 shares of SOL
Lovin it!!
DVAX-and why its a BUY
Over the coming year, Dynavax intends to advance the development of its diversified pipeline of products to meaningful value inflection points while stringently managing its cash and the resources from partnerships and funding agreements. The Company is in active discussions with regulatory agencies to resolve the U.S. Food and Drug Administration’s clinical hold on HEPLISAVTM hepatitis B vaccine and identify an appropriate path for its approval in the United States, Europe, and the rest of the world. The Company continues to work towards clarifying the remaining regulatory and development requirements in the first half of 2009.
LOOK basically any day (or within next 30 days) they could finish fulfilling the FDA requirements to move forward on HEPLISAV. If all goes well lol Does all ever go well?… anyway she’s gonna blow IMO.