Japanese machinery orders came in better than expected. Despite stories of freight ship clogging the arteries of popular Asian ports, LCD manufacturers are bitching about supply shortages, due to big DEMAND in China. AUO is your play.
Everyone is obsessed with secondary offerings and how terrible it is for stocks. Says who, fuckface?
The fact that companies are able to go to market to raise capital is a fantastic.At the end of the day, most of you are simply overzealous clapping gay men, with rocks in your head and clouds beneath your shoes.
While it’s true, “The Fly” is getting taken to the woodshed on FTK; it’s also true, the battle is not over, just yet. The bear case for FTK is need for capital. They are burning through 2mill per quarter and have a bond payment due in August. At the present, they have 9mill in cash/line of credit. Without a doubt, they will need to raise capital. However, I do not doubt for a second their ability to raise cash.
The capital markets are open to everyone. Come one, come all. Take some money and spend it on cocaine biscuits and office building built from lemons.
With CLRT up, I like SFE here. Remember, SFE is a deep value play, who owns more than 50% of CLRT.
For the most part, stocks are just chopping people up. There is no clear direction and it is dangerous, as fuck, to lever up and take a strongly biased position. Most of my longs are weak today. But, my fall is cushioned by a 35% cash position. Instead of using such said funds to short stocks, I will wait out this period of indecisiveness and use such said funds to buy the dips.
I was going to buy a basket of biotech stocks, ahead ASCO. But my appetite for small hand grenades has waned since last night.
In closing, the market needs a catalyst to go higher. Right now people are obsessed with “going away in May,” mainly because they are brainless walking suits. Pick and choose your spots carefully, while having a light market weighting. Once the correction ends, you will regret being short. In my opinion, it makes more sense having a heavy cash position, readying to buy dips, than hedging with shorts.
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We should be calling the Fly something more spectacular, something like Lord of the Flies or Beauzabul
I can see Russia from my house. I am writing a book. Bristol has split up with that idiot. Life is good. I hope you are doing fine, Mr. Fly.
Sarah Palin (next in line to be Mr. Fly’s wife)
mrkcbill wonders if our fiat currency will now be renamed to fiat-chrysler currency.
Commodities have led this market higher. They will lead it lower too.
Banks have also led the way. Unfortunately, too many players remain and with big government eyeing their balance sheets they’re not making loans while hacking off credit lines.
While they no longer deserve “marked for death” valuations, they shouldn’t be chased here either.
With no government catalysts left, and the yield curves rising, the equity market will slowly slide through support level after support level.
Is an economy based on producing wonder-drugs while buying ipods, flatscreens and an egregious amount of hamburgers sustainable?
Fly, so what is it about FTK that intreagues you?
Exactly! Why pay extra fees to Direxion and your broker for a “turd grenade” when you can simply raise cash to hedge yourself?
You still like EXH here or have you changed your mind on energy related names?
Normally would hold onto this short USO a bit longer, given that the first borrow of 3k shares was easy but the other 4k was difficult, but I’m going to take half off here and send the considerable profits to the libertarian site anti-war.com. If I were you, I’d quit fucking around with the long side. Oh, you might have a good day here or there. But the Bush/Obama idiot trade is on. 190 military bases around the world, two wars, one the war criminal in the white house hasn’t even begun to wind down, the other he’s expanding, and meanwhile, he’s bailing out the banksters. Could it be clearer? Up and down you go. You’ll lose your fucking shirts eventually, especially those who double down on losing trades as most of you like to do, and play without stops. Take a walk along a nice country road and think about it for a moment: 190 military bases around the world and 29 trillion for the banksters. I wonder where that shit storm is going to lead us eventuallyt? Wow, maybe even Bush’s brain could figure that out.
Being able to raise capital in the market IS a fantastic.
Jed, the fiat/chrysler joke is funny, but it was even funnier several weeks ago when I said it.
You owe MrKCBill another joke.
$FTK is this year’s $MVIS
Jake’s favorite stock, PL, is near HOD.
Nice call Jake.
This isn’t Stocktwits douchebag. You don’t have to preface a stock with a $ symbol.
Once the correction ends, you will regret being short. In my opinion, it makes more sense having a heavy cash position, readying to buy dips, than hedging with shorts.
Agreud, as long as SPY holds this 88.53 fib line here.
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I’m buying w/both hands. CNBC just advised recession ended yesterday.
This market needs to put in a hard higher low. Even dumb asses know nothing goes straight up like it has. Once we do then all the dumb asses load up long and then we start the real crash. Now is a good time for the head fake to start.
Fly, What do you think about that thesis?
This site is always good for one daily-spit-out-my-coffee laugh.
“This isn’t Stocktwits douchebag. You don’t have to preface a stock with a $ symbol.”
Fly’s right.
We’ve seen a load of recpas in Oz and those stocks have gone higher.
You can’t complain about both sides as it doesn’t make freaking sense.
You can’t complain that firms are undercapped and then whine when they get capped. Getting capped up if they need it is a good thing.
this market is boring.
Jake’s favorite stock, PL, is near HOD.
Nice call Jake.
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I was afraid to give out my insider info about the PRU buyout, lest we all be arrested.
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NOTE to Humourless Big Brother types with no innate senses of sublety: The above was a “jape.”
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While my PnL is very positive today with my current positions and I would expect us to tag 875 I am seeing extremely light volume on this pull back. Its almost a buyers sit out instead of a massive short attack. That said I am going to cover my HME here for a 3% gain. Yes its not big but I had a monster position and I think its prudent to cover. My CRE exposure is now via SRS which was put on at 23 yesterday, yes its the devil but it allows me to limit risk better.
I have outsized gains today in DRYS (+16%), SRS, FAZ, short HME all while sucking wind in FTK (tiny tiny position), ATHR, DXO. I am bidding for blocks of UNG at 16 to restart my position (750 share blocks down each 75 cents).
Off to grill a cheese.
Aloha,
I took my modest profits on AEM today not b/c I am sure the gold run is over but risk reward in miners does not justify a large position I have in AEM especially since the miners are running with the general market in the last few days and I believe the market is heading lower. Completely out of AEM. Thank you very much and I will be back to you. To all of you gold bugs out there, if you want to know where gold is going, pay attention to AEM, as simple as that. Gartman is the one of the most intelligent trader alive but he is a contrarian indicator on gold. He is short gold right now, which means gold probably goes a little higher untill he covers.
Starting today to build a large short position in energy via DTO, and will look next week into shorting more of XOM’s of the world. Innitially all large positions will be hedged with short term options.
I think Agriculture has a good shot at heading higher here but I don’t fully understand all the underpinnings of this sector so I am not playing it. I am in the process of learning more of this possibly great sector as a core long term holding.
And last but not least, the general market is DONE! Not sure if we see the lows but the highs for the year have been put in place…Well I am open to the possibility of slightly higher highs come November but we are heading lower, possibly a heck of a lot lower until then.
Happy Friday to all. I think I will treat myself to a nice Sourdough Jack with my winnings. Heck, I might even fly to San Diego for the weekend, who knows how i feel after finishing my fine breakfest/shots of patron platinum.
Sorry Anton…did not see that previous post.
Fly-
Rethinking on of your earlier posts on the direction of oil and energy stocks? If I remeber right you were a giddy and shit because China was “restocking” their inventories. I guess it had quite and effect? Ha! The story with oil is a simple one of supply and demand. With the things continuing to slide down the hole demand will remain soft. Still short via DUG and will stay that way until the world trade numbers and US demand show some kind of recovery
Is joke, Jed. Your ongoing, unprovoked pie fight with nice guy MrKCBill, is a funny running gag.
Is a Sourdough Jack sort’ve like a low end Dirty Sanchez?
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Dollar strong…coiling for a move higher. Mind your commodity plays.
Fly are you going to defend FTK?
Tmoe
I am not rethinking anything. At the moment, I am not thinking at all.
Long is wrong. Seasonality works against you. Overbought conditions work against you. Massive new issuance dilution works against you. Increasingly bullish sentiment works against you. Valuations work against you. Inability to estimate “normailzed” earnings in a brave, new delevered world where margins will be lower works against you. Frugal consumers work against you. Obama firing executives and changing boards of directors, at will, works against you.
i hope you’re right, art.
Although I’m only down here because I followed Fly too fast into FTK
That being said I’m doubling down here @ 1.85
From 930 on friday to 880 today on the S&P. I would say the buying was weak this week. Buyers are exhausted.
I’m foolishly oversized in FTK @ an avg of 2.18 right now but I can afford to be oversized on a low volume pullback.
OBV is up up up!
Fly is going to be angry at me. NY real estate is going to fall 35% from here according to DoucheBank (sic) and I am already under water. It will mean foreclosure for sure. Mayor Bloomberg maintains that an increase in property taxes is a good thing.
I don’t think under 2 will last till the close on FTK!!!
Jakepink,
Is a Sourdough Jack sort’ve like a low end Dirty Sanchez?
We don’t need to hear of your sexual encounters with your mother in this board. Investing is the theme here.
Fool: What was your first entry point on FTK?
I am in FTK at 2.0994. I just took down 3000 shares at 1.85.
Look for buying into the last 45 min’s to prove the bears just can’t put together a scary close. BUY it’s a bull market don’t ya know!
I love the $1126.41 credit card bill of Madoff for a meal at the PerSe restaurant in NY.
He must have ordered the crab dip AND the artichoke dip appetisers.
Jeremy:
The PPT “”Recent Winners” ad has an error:
TC
+11.65%
Flagged on 2006-11-10
The death of Fly…The King Bull and all other bull-shitters.
http://www.youtube.com/watch?v=R-6M5FukAoE
I have a feeling we are breaking 875 no problem… All that tarp repayment from JP and GS had no impact to the stocks themselves.
My target is a bounce on the 50-EMA on the SP500 where I will go all in on the long side.
Be careful Henrys Fool you have had a good week . Everybody is waiting for 870…..
gap:
Fly Buys:
“I bought 105,000 shares of FTK between $2.44-2.55
2009/05/04”
“I bought 20,000 FTK, between $2.62-2.70
2009/05/07”
It’s raining here, overcast, dullish to say the least, kinda like this tape.
but hey, sunshine everyday makes a desert.
the dollar seems to be showing a more positive side.
ZenProfit: I asked if he was going to defend his position in FTK, not how many shares does he own. Thanks though.
Masterpain: I thought it was 877 or was it 875 or now its 870? If everyone is waiting then it will never happen although I wish it would so I could reap some profits on my SRS, QID and FAZ.
Need to break that daily VWAP on FTK.
everybody has their shopping list ready. a pullback will be met with buying. we need a good healthy higher low, then shopping will commence.
we’ll see this in UNG next week. its pulled back (I banked) but it won’t plunge for long. DBA too, everybody knows to buy these things. and there is the problem
“At the end of the day, most of you are simply overzealous clapping gay men, with a rocks in your head and clouds beneath your shoes.”
lol fly. best post ever.
It’s a Bull Market don’t you know!
to all shitpants traders..as stated a week ago EDGR has now broken out…STEM is next i think…adios amigos..and may Chavez choke on a goat dick
mrkcbill foolishly followed Henry into FTK. What the FTK?
Hey Pussy, Yes you-Jakecunt
The best you can do in response to my post is put three red marks to my comment and three green marks to your comment. In a treu fascist propagasnda like the party you ascribe to trying to manipulate the public opinion! We are to smart for that FUCKO!
To borrow from the phrase “youth is wasted on the wrong people” I say the intelligence is wasted on the wrong people. Makes you wonder does GOD care about justice? Why do such sickos such as yourself and ted bundy are blessed with such intelligence whe your sick personaly match your idols such as george Cheney hitler!
I guarantee you this Motherfucker, if I was anywhere near you I would beat the living shit out of you just for being you-a freak of fucking nature.
Now go enjoy you fucking dirty sanchez since you are in the process of losing all your $12,265 you have.
LOL. I go away for a meeting and I gain a troll.
(I know, I know, you say “just one today?”)
Does this retard really think I control the karma buttons?
Hey moron, that fourth one? That one’s mine, dickhead.
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^yeah that was funny. Damn conservatives controlling the karma buttons.
lol at douche-nuckle joe above…
way to prove that you are to_ (sic) smart
It’s a Bull Market don’t you know!
Henry, I nominate you for tab, but your avatar now has to be Old Turkey.
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^yeah that was funny. Damn conservatives controlling the karma buttons.
Sarious. The anger meds must not be enough, it’s time for a reinforcing tin foil hat.
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Jake, would you please stop pushing joe’s buttons?
Everybody knows you’re the one doing it.
And give him back his aluminum foil hat, to (sic).
“a functioning karma needs no positive enforcement.”
…or something like that….