The late day weakness in the dollar resulted in a frantic short squeeze, much to the chagrin of the DevilDog crowd and others of his ilk. When will you silly bastards learn, there are mustard seeds everywhere. There is nothing you or your stupid friends can do to stop the ongoing rally.
My friend, buddy, pal, Danny, has a chart up that will blow chunks all over your face, whatever the fuckle that means. Shit is going up and down, all at the same time. People with 3rd grade math skills would deduce the market is trading sideways, with a very bullish bias.
So you know, “The Fly” has been busy dealing with general contractors (getting work done on house, ready to sell it), while juggling the responsibilities of an egregiously busy money management business and dealing with you bastards here on iBC and PPT. Needless to say, excess time is not a luxury nor a right for Senor Tropicana.
Bottom line: I liked the action in select banks and tech. To play the new iphone, I love OVTI, in a very manly, non-gay way. Also, I like TRID, FITB, GME and of course FTK. Accumulating FTK has become a hobby of mine. I sort of just hang around and say” hey, here’s 100k, let’s buy more FTK.”
The market trades up tomorrow. Position accordingly.
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Fortress Investment Group
How DOG’s FAZ holdings look like the way he’s been trading it:
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=1244491825550&chddm=42228&q=NYSE:FAZ&ntsp=0
i have seen this movie before. it ends bad.
we are about to get a mini 1987 special.
will add to shorts on higher open.
Fly,
I added more TRID on the dip. Are you going to increase your position on this one? Any thoughts on KEY ?
Chivas:
It is a fact, you have multiple personality disorder. I am a very good judge of people and behavior. You do not know if you are coming or going.
Recall a few weeks ago, in your bullish fervor, you said the market would rise indefinitely.
I am afraid that my site is causing you financial distress, since you keep betting against me. In a not so secret way, you are out to destroy The Fly.
You cannot win. Smarter men have tried before and have failed.
Chivas,
I believe the movie will be one of those shitty movies you said to yourslef the entire time watching it that you really have better things to do and should turn the TV off and get busy but you watch the whole thing anyway only to get to the end and it’s one of those that just ends!!!! and you’re completely dumbfounded that not only was it a stupid movie, it justs ends, with credits rolling up as if the movie was stopped in the middle?
a pointless movie with a pointless plot that went nowhere…
but…. you realise that 2 hours of your life are now gone.
Great usage of the term “Josh’d”; would make a great addition to the IBC dictionary if I don’t say so myself.
http://www.ibankcoin.com/dannyblog/index.php/ibankcoincom-dictionary/
Go check out that Danny chart. It is of epic proportions.
Fly, be nice, take a prozac, or go suck on your pacifier. if you lost yours, i am sure Cap will provide his, just wash it first.
Chivas
What happened to your UBER bullish position? All of a sudden you got knocked in the head with a DEVILDOG stick?
Fuck you
TXN Texas Instruments jumps $0.50 in after hours following guidance (19.77 +0.09) -Update-
A few related names ticking higher on light volume include: QCOM, ADI, BRCM, NSM, FCS, ONNN, LLTC.
Krugman: “I would not be surprised if the official end of the U.S. recession ends up being, in retrospect, dated sometime this summer,” he said in a lecture today at the London School of Economics. “Things seem to be getting worse more slowly. There’s some reason to think that we’re stabilizing.” He must have talked to Henny Penny or Turkey Lurkey
One thing that some people are forgetting is that the market dropped like a rock in Jan. and Feb. and thus this big rally is just returning the market to where it should be – it is approximately flat for the year – it should never have gone down – it was pure fear that the Obamanites have no clue – they still have no clue. Therefore, the market is not at some very high level in danger of imminent collapse.
The Recession is over. I did not think it would end so quickly; but it did.
front page link props, word up.
double comment, so I’ll change this comment (since I still have the edit box) to…magic crayons win again?
Fly,
i was very bullish in march. i even said that there was a 70-80% chance that we were seeing the start of a new bull. i also said that i thought the economy would bottom this year and that residential r/e had bottomed. in addition i thought cre would be able to refi all their stuff, along with a bunch of other stuff that you know about.
I HAVE NOT GIVEN UP THE HOPE THAT THIS IS A NEW BULL.
short term, i am very bearish. these are the things that are bothering me.
1- too soon too fast without a breather.
2- the dollar. i fear the correlation is about to reverse.
3- sentiment. aaii has gone from 70 to 34% bears. ii has gone from almost 50 to 25% bears. daily sentiment index has gone from 13 to 85% bulls. and some other sentiment measures that i keep are very bearish. shift has been too fast imo.
4- this is the big one. 10yr at 3.90% with the 2yr starting to move up as well, from .8-1.42%. if this continues, it will kill everything, my friend.
there are other reasons, i will e-mail them to you.
p.s. you know, or should know that i think you;re a special guy, and i wish nothing but the best for you. as i have said before, i don’t worry about you, because i know you move fast.
if we break Fri days high 1000 coming near you!!!
Do you mean Danny’s ES chart showing a Head and Shoulders top forming?
Say it isn’t so Fly.
I told Steve,Jr. about you getting ready to move and he hasn’t stopped crying.
Although, I have to tell you that old man Smithfield down the block is pretty happy. You remember him don’t you? It was his lawn that you drove over in your new PT Cruiser.
Fly, I don’t know who coined the phrase “vanilla profits” but if YOU came up with it then Bloomberg is reading this blog because they just announced “after the break, we will talk about how to make plain ol’ vanilla profits”.
time at 5:00pm today, dude doing the interviews with beard just said it.
Chivas
I’ve been in your shoes, many times. Right now, you are just talking you book.
Fly,
i don’t run a fund anymore or manage monies for anyone anymore. most of my net worth is in tbills and 2yr notes. i don’t have an ax to grind.
If you go to about the 35 second point of the below video you will hear what I believe is a distraught poster from iBC calling into this Saudi talk show.
http://www.liveleak.com/view?i=63f_1244484569&p=1
Check out Danny’s chart, asshole.
He’s the fuckin man.
FYI-FTK
Flotek should definitely send FLY (and his homies) a thank you note for his investments helping meet the 50M + criteria.
Razncane
*********************************
Flotek Industries announced that the New York Stock Exchange (NYSE) has received approval from the Securities and Exchange Commission (SEC) for a pilot program that would lower the numeric thresholds for continued listing criterion to require a 30 day market capitalization of not less than $50 million and total stockholder’s equity of not less than $50 million. The previous threshold was $75 million for market capitalization and stockholder’s equity.
As a result of the aforementioned program, Flotek is deemed to be in compliance with the NYSE continued listing requirement.
The pilot program will be effective through October 31, 2009, with a subsequent rule filing anticipated by the NYSE prior to this date to make this a permanent continued listing standard change.
TRID with a very nice gain A/O….
Chivas, I respect your opinions immensely and agree with everything you say. But then I look at the S&P 500 technically and it looks so damn bullish.
I think you’ll be right, but we’ll go to 1000 first.
Fly & Denninger have completely seperated from each other in terms of where we are headed. Do we see another deflationary vortex or do we hyperinflate and liquify the stock market much higher. Armstrong, Fields, Krugman, denninger, Sinclair, Butler, Roubini, etc. all have there opininions and they all somewhat differ. I personally believe only one thing and that is we will see hyperinflation within 6-12 months and undollar assets will fly, so I am positioned and will add if we have a moment of deflation before the party starts.
http://market-ticker.org/archives/1091-Ten-Things-You-Must-Do.html
Chivas, what are talking about? 5% down? This market can do 5% either way at any time – no problemo. I would not be surprised if June is down 5%. So what? Averages pulled back 5% in May. The Big Monster out there in the future is INFLATION. We have not had Big Inflation in about 30 years – most people do not remember what it is like – nasty stuff. Bad stuff.
Chivas is god.
What are you trying to say? You are GA GA over Chivas?
No offense to The Fly, but Denninger has been dead-on right for 24 months.
I see no reason for him to be less right with his latest position.
I’ll take inflation over deflation anytime … commodity related stocks and time deposits will prosper while bonds and the $ shit the bed … can deal with that.
BIG Inflation is a game no one ultimately wins. You must make egregious gains just to keep up. People will buy stuff just because they expect big price increases. Big Inflation is double digits per year. If we have it again, the cure is the Fed must raise rates and stop the economy in its tracks. There will no longer be any need for coins – it will cost more to mint them than the value. Personally, I would take some deflation – I have cash and cash is King in deflation.
Fly,
obviously you’ve been a big accumulator of FTK off and on for a while now, so do you just like the chart, the technicals and the huge short position or do you also love the company, the fundamentals and/or their technology?..or both?…just curious…
Right, I should listen to denninger. What do I know? I’m only up 130% over the last 24 months.
“Right, I should listen to denninger. What do I know? I’m only up 130% over the last 24 months.”
I read Denninger every day, but the above statement is GAME, SET, MATCH.
aaargh stop it already. inflation, deflation…
inflation isn’t so bad. as long as you out run the inflation you win. know the name of the game and play it. plus it lowers your debt. we still got 1 or 2 years of 0 interest rate. and i don’t believe the hyper-inflation boogeyman. this isn’t zimbabwe. you got by far the most horizontally and vertically integrated industry in the world. plus a nafta agreement with one of the biggest commodity provider in the world: canada. plus low wage workers coming from the south. anyway.. i’m painting with a pretty big brush here i’ll admit.. but so are you guys.
people get all “crazy” because of 10% unemployment rate. the rest of the western world has been living fine with about 10% unemployment for the last 30 years. you’ll just have to manage it.
The most important lesson we can learn, boys and girls, is Friends Don’t Let Friends Score FAZ.
Not even on weekends.
___________
happy times!
… if you can’t afford shoes, you can always get yourself socks that look like shoes.
http://bit.ly/Fupx2
Fly,
Booyah on TRID. It got upgraded and it at 2.19 in after hours. Hats off to Senor Tropicana!
rocky x10 http://www.youtube.com/watch?v=hqOBR_Xbw2I
Fly:
I wasn’t dissing you or your success. My comment was more an observation that Denninger’s macro view of the current economic world is way more pessimistic than yours.
You bank coin in up or down markets. His view is that Armageddon is more likely than not. It’s still possible to bank large coin on the way down as it was on the way up.
I haven’t had time to check out the site but just noticed that you added DevilDog!!!!!
The exchanges between DD and Mr. Jake Gint are classic! Great stuff.
I’d pay to see an ultimate fighting match between those two.
Good night.
Denninger’s making to do lists. Holy Crap– I was just getting into the rally.
I wonder if Denninger– Auto Fellate’s himself like CAP does?
“I wonder if Denninger– Auto Fellate’s himself like CAP does?”
You mean quietly sobbing in a room dimly lit by the pale glow of an LCD monitor while wearing nothing but fully unbuttoned true religion jeans and soft gucci leather shoes?
Good question, don’t know.
God Bless y’all’s little souls,
You’re confusing the market with macroeconomics. Shit ain’t connected — at all. And you know better.
We can take out October ’07 highs and be in a depression. How? Look at the dollar in your velcro wallet. It used to get you a pat on the cheek after stuffing it in some sow’s panties at the local “Gentleman’s Club.”
In three years, it’ll take 150 or you’ll get slapped and bounced out of the place.
All you stock picking Odens will be down a ton in real terms in this scenario, but hey, you’ve got a mid-6 figure brokerage account, so you’ll be richer than hell, right?
fly, you bought ftk also at 33$. debt 130M / Mkt Value 35?