Piss-ants and Charts
Quick question, what do you get when you combine a piss-ant with a chart? The winner shall be lavished with a 12 month supply of pig vomit and black angus horse burgers.
Do you people really work hard and stupid or just lazy and smart? It is rare to find people that work hard and smart. Most people I know fall asleep at their desks, while looking at soft porn, similar to the stuff Uncle Fucker is posting these days.
For the most part, I am quite pleased with the general direction of the site. There really isn’t much bad advice being dished out, unless of course you are an avid gawker of the Peanut Gallery.
I am thinking about turning over a new leaf, by way of “virgin blogging” aka curse free environment. I’ll have you know, in real life, “The Fly” never curses, unless on the phone with his degenerate broker friends. Cursing is all fun and games, until someone you know reads your shit and then looks at you as if you were the unibomber at birthday parties.
As most of you know, last year, “The Fly” went “virgin” for a stretch of 1 month, until the market poleaxed itself to 7,500 Dow, which represented a drop of more than 1,000 points from my promise.
The long and the short is, charts are nothing more or less than an excuse to avoid reading. Sure, stay stupid, it’s the Southern way. My guess, the majority of chart readers are halfway illiterate or find great use in nonsensical lines correlating with backward brain functions. Figure that out and learn from it; else the next time you fall asleep drunk inside of a Mexican bar, a group of pig masters will harvest both of your kidneys.
http://www.youtube.com/watch?v=IpBFnULWjyM
That would be a lovely idea, we can all patter away in a more sophisticated manner without the incessant fucking vulgarities..oops oh my!
Holy shit, you really are turning into Sister Mary Regina Albert the Great!
And please remember, Uncle Fucker — that you are “Uncle Fucker.”
“Fundamental” research is fine for cocktail parties, but it’s about as useful in picking stocks as feather boas are for hunting elephants.
Respecting the charts is respecting the markets, putting yourself in the position of discerning the market’s reactions, rather than your own tea leaf interpretations.
But you tell yourself lies. Half the shit you do is a result of what the charts are telling you.
You just call it “the tape,” and tell yourself you’re doing it Old School.
Pah.
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nah - i love the vulgarities!
and yeah… truth be told, there’s something illiterate about reading only charts.
I agree. Charts and chartese ought to be outlawed in the same way crack is. It has a medical effect on brain function.
They do seem to work okish for currencies though in a limited way.
Lord Gint is, in this matter, correct, Dear Sir. Indeud.
And a “virgin” iBankCoin just wouldn’t be the same. Fuckin’ A
It would be a smart business move to go virgin, in order to expand… would also have to lose some of the patronizing attitude. It was funny for the first 6 months but not anymore. I come here in spite of it.
Woodshedder (n) def.
chartist? Check
Pissant, as an ant: commonly called wood ants? Check
Pissant name arises from the urine-like odor produced by their nesting material? Check
Pissant can refer to any small ant that infests a home, or wood shed? Check
Here is the thing FLY; some like yourself are able to digest numbers and have some futuristic vision. Most people are not blessed with forward looking calculators. Charts are a necessary part of doing your home work.
The best traders care only about the float, news flow (ie momentum,) and what the chart suggests.
For instance I’m not going to figure out CTIC for the long term basis. Thus I read a little, discover a conference, and then realize the chart says the stock is overly shorted.
Any hint of good news and it is bound to pop. Therefore I buy the day b4 it pops.
Now you could say I got lucky, but the chart told me to do it. Otherwise I hate biotech and can never figure them out.
No cursing would be a step up in the quality of information delivery. Perhaps allowing the site to grab a new kind of readership.
I rarely look at charts anymore. When I do, its to verify the signals that are being presented from the screener.
Surely though we do not need to have the debate about chart reading traders vs. non-chart readers. It is an old and tired argument, sort of like the fundamental analysts who stroke themselves for “reading.”
Besides, when the S&P500 has a PE of well over 100, and fuckers are calling it a new bull market, obviously fundamental analysis has failed, to an extent.
Technically, as difficult as it has been for the bears, the market has been exactly as it is supposed to be doing. People always just think it will be different the next time around, but it usually isn’t.
I have no opinion on the cursing.
The Real Hmmmm… I can only assume that you enjoy pig vomit and horse burgers.
Congratulations Fly, you’ve reached another milestone:
1) Fly hates “dirty internet money”
2) Fly builds a Tier 1 blog
3) Dirty internet money; well not that dirty
4) Fly expands potential market by “going virgin” ie conventional
5E) iBC becomes #1 blog of its type
6E) Fly looses his edge with so much success
7E) New maggot blogs w edge begin gnawing eating away at iBC’s marketshare (or whatever it is maggots do)
BotE = Beginning of the End
I’m not being critical at all. It’s amazing what you’ve done (are doing)
http://www.youtube.com/watch?v=f6rFeilUvcc&feature=related
THE UNCLE GODDESS BLOG
You’d still be the funniest guy around, even if you didn’t curse…tho, it does punctuate for greater humor at times; my all time favorite being your commentary on holding triple etf’s overnight…as my brother would say, ‘gut busting funny’
btw, 9% in one day, unfuckingbelievable!
Maybe I will turn a new leaf and be pleasant to everyone
unAbomber
my win rate went up dramatically now that I screen the fundamentals carefully and really try to understand the fundamental reasons for a repricing. I still want to understand why GILD has been plummeting.
trying to grok capital structure now. what is a good amount of leverage, what debt are they selling, when and how much is that worth now ? (what’s the debt market saying) how is the company managing itself, and thus deserves to be worth more.
this greatly greatly increases my win rate. fundamentals are the weights that the market weighs. the chart movements just plot the path of price discovery, the method of weighing.
and for the record, I work harder and smarter but I’m not going to be an ass about it.
After 5e I will sell this popsicle stand and open an egregious bowling alley with the proceedsz
FUCK.
Fly, if you stop humiliating peeps and cursing, I will be sad.
I’ll just pretend like I never saw this post.
Fly,
Granted, you are a literary genius. This fact MIGHT string me along for the ride. I’ve enjoyed your blog through many moons and it just wouldn’t be the same. If you want your demographic to shift to the elderly in convalescent homes (over 47.5 years of age), chewing their mushed peas while reading your blog … go right ahead. You pick who you want to sell out to. The choice is yours.
Happy hunting…
10X
Charts are a lot more useful for the people who scored low on the Verbal SAT’s and high on the Math portion. I don’t judge people for cursing; it is merely a distraction. Reading is my downfall and charts help a lot. If I spend all day reading I feel as if I’m losing my sanity. Chart addict’s track record shows charts can work for some. Anyways the fundamentals say the PE of everything I look at is overvalued now. What else would you recommend? Perhaps strictly follow http://www.ibankcoin.com’s bloggers’(not the peanut gallery’s haha) various recommendations even more?
Everything is in constant contradiction.
Next thing you know …your gonna watch 11pm news..have some warm milk and cookies and fall asleep,like the rest of us loosers[sic].
HOLY SHIT—
My friends roomate from college works for the FED. He texted my buddy tonight as we watched the Sox vs Detriot game. This is what it said….
“no more long hair. That AirFrance flight crashed and burned, huh? I cant believe the wedding is so soon”
This guy is a gamer. There is no fucking wedding and he doesnt give a shit about the plane crashing-he hates the French and Brazillans. Although the women are fucking smokin. Long hair? My buddy said his friend is going bald and can only grow hair everywhere other than his head.
This guy is an insider.
Im just passing along what I saw w/ my own eyes tonight. Kinda throwing you assholes a bone….take it or leave it. But dont you dare say I didnt warn you.
Ill bet anything we start selling off hard over the next few days. The fed needs people scared to run them into bonds. Doesnt Timmy G need to validate what he discussed w/ the pork fried ricers oveah there in ChinaMart? How better than to run people into bonds.
You are broke, stressed out, relationship going to shit, your girl is flirting with other guys, and you are a loser piece of shit.
FUCK OFF
And aren’t 90% of us banks still leveraged at 30:1? I’m trying to find some more recent numbers on this.
Its good to see Calvino has started posting again.
The correct answer to my question is you get a chart.ly. You guys are terrible at cognitive thinking.
You idiots. Chart addicts success has nothing to do with charts. Don’t you get it? Hello?
He’s a fucking space alien.
Geez. We got us the slow crowd tonight.
I know chart addict and he is not an alien. He is a robot, wait, Cramer is talking technicals right now. I guess he is an alien after all.
Wrong again. Woodshedder is a robot, dannt is an android and jake is santa claus 3000.
I think I take these posts more seriously because the ‘vulgarilty’ means there is no pretense and you’re calling it like you see it (no hidden agenda) some how makes the recommendations legitimate and I enjoy the humor. I’m afraid that if you changed the ‘tone or flavor’ of the blog it would become just like all the other 100’s that I used to surf around on… and never followed up on or subscribed to.
What recession?
Suck it bitches
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKa4Fv75Ff6Y
Never mind all that.
I’ve got another “lock of the week” sure thing OTB pick, thanks to the glory of charting: Platinum Dreaming.
No worries about getting the vapours from the pics on this one, all ye squeamish and light of loafer.
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This is a funny post considering the recent observable history of the site, in at least the following three ways.
It is a stock site and the chartists have been making a ton of money in stocks, which in turn drives traffic, which in turn makes money for the proprietor of the site.
This is the house that Fly built and the most recent additions to the house have been chartists-unless you count the ephemeral devil dog whose methodology is based primarily on flipping a one sided coin.
And finally, the Fly talking about not cursing in his posts is like Howard Stern saying “No I don’t want to see your tits”. Fly is the stock shock jock of the internets, and this reads like a Jerry Springer like attempt to bait the other bloggers and their readers into some reality show style bickering. Which could be kind of funny.
I agree. Charts and chartese ought to be outlawed in the same way crack is. It has a medical effect on brain function.
What’s the definition of a stupid Ozzie?
A: One who trades currencies, and then shit on charts.
Un-b’fuckin’-lievable.
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People, I am better than everyone else, not because of the curses I use, but my divine power. A special shout out to my bible thumping crowd.
Developing…
Choose Your Side -
http://www.youtube.com/watch?v=oCdvPp5OP5o
The point of Fly’s post, for the idiots, is that one of the most important aspects of trading is developing a strategy and being able to efficiently research it, synthesize ideas, and execute it. It doesn’t matter if it is fundamental or technical, or both. A retard with a chart is always a retard, but a space magician with a strict research plan and development strategy with a chart is a Chart Addict. Change out charts with news, earnings, etc. for the simile of The Fly. Those that are successful have focus, while those who do not, drive one.
strictly by the fuckin charts here.
This one’s free test tube guy –You will note that Fast Money’s ratings are up over 32% since Jeff had his “car people” episode–and….you’ll note it was totally sans f bombs– Just words strung together that make no sense. Easy.
Back to business..call me tomorrow re your last offer for my guy doing a video blog for ibc. We might be getting closer to a deal.
For Jeff to coach you on the words that make no sense thing, that will be extra. We cut a deal on the vid blog tomorrow, I’ll throw in strange eyebrow expression practice for nada.
I swear the real Hmmmm is not “the real” the real Hmmmm.
Either that or he stopped taking acid, got married and moved to the suburbs or something.
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I’d pay jef macke $500 for a special ibc incoherent video rant. Who needs $500?
You had us at “I’m thinking about”
Fly,
You are so fking creative and well read. You are bold and not chained in dogma. Thats what inspires me to look forward to your daily rants and comments. PPT is timely and invaluable. It does have technical component but that does not dictate it.
I’m a Fly-Chart Addict combination. I’m up 100% ytd due to my space alien brains, my robot friends, and sticking to my story. For your information it’s in no part due to pot-smoking hippies.
Fly, I see your offer of $500 for me to do an incoherent rant and re-raise you:
I’ll give you my 100,000 shares of FAZ to do it. Don’t cash them in though because the have sentimental value(I bought them at $200).
PS. You don’t have to pay me for this mini-rant right here because I SEE THE LIGHT. GM HAS SPOKEN TO ME!!!!!!!!! *sniff sniff*
It’s the unAbomber, dammit.
Love all the random hate piled on to the Peanut Gallery by the one called ‘kush’. Thanks for your readership, buddy.
I think I’ll just tell everyone the market is up tomorrow. Fly, where do you see the growth? Anyone want to trade a ride on your private jet for a BJ? Now to Bob Pisani on the floor to distract you even more from what’s important.
Fly, whatever you do, don’t outlaw swearing on your blog. The people who find this website and stay here are the people who can make sense of your violent and sharp-tongued rantings… Unless you make a bet and lose don’t get soft and wussy on this shit.
DPeezy: When the Dow breaks 8,200 I will read your blog. Until then I have better things to do with my time, like smoke kush and making money. I do agree banks are being sketchy though.
Fly, I think your ‘brand” is vulgar and iconoclastic. I think the swearing is naturally a part of the blog.
Fundamentals tell you WHY to buy. Charts tell you WHEN.
fly im not having a problem with the cursing ..and as long as it is used in good taste i cant find the problem with it ..
alot of people died to protect your freedom of speech ..cherish it
..
also im to busy with my work to play in the market but i do read your stuff everyday …im not seeing a recession so i do think all the recession talk is $%@@&&^#%&!%$^%$#&&%^ <<<<<<<want to see that all over your comment section
Also, Fly’s post is an introverted look at his site as opposed to the tar pit known as StockTwits or their newest petrified incarnation: chart.ly, as in, http://www.chart.ly
It took me, a heterosexual, a Google search to realize what the fuck new things twitter users are conjuring. Those people are dot-com-era-ing “social networking.”
My favorite part is Fly’s acknowledgement of the indisputable fact that southerners are stupid…y’all.
Fuck y’all with a biscuit.
Haven’t seen the Rally Monkey lately sooo, how bout’ the Trunk Monkey for a little protection?
http://www.youtube.com/watch?v=8avOiTUcD4Y
First, I find good/promising businesses or “themes” that I want to play (e.g. inflation, agriculture, smartphones, etc.). Second, I look at charts to determine a good entry point (is it near a basic support level or at the low-end of a trading range in which case I buy…or is it parabolic or completely cratering and hitting new lows, in which case I won’t buy). Simple as that.
I feel yah. I dig through earnings, income statements, and conference calls. Most importantly, I look for trends in developing sectors. takes a lot of time, but at least I’m making use of what I learned in business school. I guess it’s easier to just draw a line and say “looks good here.” Damn it, I search through year-over-year earnings, changes in institutional holdings blah blah blah before I say “looks good here.”
That is, until some really nice guys come in, take over the company, start writing in some 40 million dollar bonuses, even larger undocumented perks, find some eager bagholders to take over for them, watch the stock plummet, and then laugh while they sip a martini in some offshore villa.
j - you may see some correction in the price of the loonie over this report by TD as reported by the “Nova Scotia Astonishing” (aka the Nova Scotia Chronicle Herald)
http://thechronicleherald.ca/Front/1125358.html
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Fly: That “you guys aren’t good at cognitive thinking” has to be one of the best pseudo Yogi Berra comments I’ve seen in years.
Thanks Cuervos:
I needed a little prompting to cover and covered all positions.
It was a truly great run. In fact it was one of the best times in trading I’ve ever had. It was better than sex…
I went out this afternoon and bought the wife a mini- a little red mini as she’s always wanted one to get around town.
Fly asks:
Quick question, what do you get when you combine a piss-ant with a chart?
Answer: Bob PISani.
http://msnbcmedia2.msn.com/j/MSNBC/Components/Video/090128/c_fedstatement_090128.300w.jpg
I would have answered about 9:45PM last night but I was asleep training my body to stay awake for the Magic-Lakers game tomorrow.
I am almost 47.5 and need my rest.
Fly,
If the fundie’s are improving why can’t Berk-B climb above $3,000?
Interest only ARM stated income mortgages handed out at the height of the bubble like candy.
resetting now.
some will laugh first, others will laugh last.
carry on.
yea ok there monsieur FLY relinquishing his trademark vulgarity…sorta like how you swore off inverse ETF’s many times in the past and came back like the prodigal son.
You’ll probably get bored and default back to your online persona in a flip of a dime… anyhow, as long as you keep hitting them homeruns
Buck Duck Luck Suck Muck Fuck Tuck Chuck Huck and Puck.
which one is the BAD word and why?
as you were.
I say ‘Chuck’. I’ve got an Uncle Chuck…biggest prick you ever met.
What’d I win Artist?
I would say luck is the bad word.
Luck is usually the result of hard work and not really luck.
Headline of the day.
NY Post: “Biden Bid To Bury Boner”
http://www.nypost.com/seven/06032009/news/nationalnews/biden_bid_to_bury_boner_172370.htm
Dvax with a 20% pop in premarket.
Fly, I gotta hand it to you, really, really nice call on the semi’s in your ibc wealth #1, starting to happen today from 2 or 3 firms already it looks like..
308
Any chance you could say the last bit in American?
True Fly-
You have the gift of investing..
Everything comes from god.
Fly,
I am your number one fan. But it’s the swearing that bothers me. It has no nobility. At the feedstore do I say, “Oh, now Wally, give me a bag of that Fuckin’ pig feed, and a pound of that bitchly cow corn”? At the bank do I say, “Oh, Mrs. Malenger, here is one big bastard of a check, now give me some of your Christ-ing money!” THERE, LOOK THERE, NOW SEE WHAT YOU MADE ME DO!
Fucking Car People!