People are walking around Wall Street dressed in cashmere sweaters, due to “extreme coinage” being produced at the local brokerage firms aka “Asshatteries.”
I don’t know how these fuckers did it; but it’s 2006 all over again and I am making “dot-com” bucks over here. If you are short the market, do not feel bad. Everyone has a specific place or purpose in life, sort of like the first guy to take a land mine to the balls, in order to save the rest of the company.
With my money, I am long ATHR, GLW, FTK, SIFY, TRID, DELL, FITB, FNSR, amongst many others. The long and the short is, I am up 2.98% intra-day, while slapping my trader/servant in the face with wet pieces of ham.
Unfortunately, I have not consumed adequate amounts of caffeine, thus far. So, without further delay, I shall head over to my local Dunk’ Donuts, so that I may rudely and abruptly request service from the minimum wage kids behind the counter.
As I speak, oil is extending intra-day gains, while the dollar is weak. Hence, we are about to mudstomp a few bears into the bell.
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Hey what exactly is up with nat gas (UNG), so much volumae but it ain’t doing jackshit.
I too am long SIFY (and Indian bro SONS), but I think KEY may be the better buy here than FITB.
Of course, FITB could be a buyout play.
But so could KEY.
_____________
The long and the short is, I am up 2.98% intra-day, while slapping my trader/servant in the face with wet pieces of ham.
That must be a relief after the 100 oz. silver ingots.
As I speak, oil is extending intra-day gains, while
oildollah dollah bill y’awl is weak.___________
Never a down day again.
There, i said it. Carry on.
Is anyone here buying into the Visanet IPO in Brazil?
Separately, does anyone have a credit card number I can use to get my (leased) jet out of Cleveland?
Thanks, bros.
I believe it’s a “land mine”
I have been in on FNSR. Do you recommend holding thru the call on Thursday, 6/11? Or, bail on Wed?
I AM THE TELL FOR TODAY.
XOM
It appears I called the bottom with my FTK comments…
If the “Messiah” gets slapped down by the head dicks and Chrysler and GM don’t get to cheat the creditors then the market will moonshot. Notice on the Chrysler stay today the market is liking it. I just can’t believe it on a personal level that the messiah can fucking be this dumb on the autos. What a fucking idiot, I think many people are in disbelief and this has held the market up even further. I mean we are about to see the launch of a nuclear weapon and our government is just sitting idle not doing shit but printing money all the while talking about paygo. This has to be a fucking alternate reality that I am in right now. Fly did your space alien friends kidnap me?
ARGRGGGGGGGHHHH….the pain of admiting I was wrong. This market is not going down. They (geithner/GS) are not going to let it. Not sure if there’s much upside left here but shorting is just not working and it won’t for now. Hell, I think this market would shrug a 9-11 type event right now. Just look at last 30 minutes of trading. Very reminiscent of 03 bottom which I also missed. FUCK, I see a pattern here!
Fly-It pains me to admit this but; great fucking job in maintaining your long bias in the face of all “the world is crumbling” hoopla.
anybody have an opinion on whether FNSR should be held into the call on Thursday?
Wow. I can’t believe I wrote “land mind.”
What a fucking idiot.
long fnsr into earnings.
Joe – Welcome to the party.
Everything is breaking out.
Make that several land mines to the nutz
Looks like Danny’s “paint post” marked the start of the rally. 🙂
Fly,
I believe you are correct Sir. Breakout feels imminent at this point. But I am a lowly caveman and fortunately I have a decisionless strangle on the SPY so I win either way.
we’re partying like it’s 1999 … does that mean a march 2k land mind is around the corner?
ERX IS ON FIRE !!!!!!!!!!!!!!!!!!!!
Loving be long 10K shares from $36.70.
FUCK YEAH
Cramer eating my crumbs again with RFMD pump.
Glow Little Glow Worm Glow
My RAX… LIFT OFF!!
ATHR going to $20.
Still can pick up BEE again if you wish to add egregious coin into your account.
I just hit it out of the fucking park! “Fuck Them, we’ll see who’s laughing.. when you need a loan Mother Fucker!”
Glow Little Glow Worm Glow
That is too weird… I was just looking at the GLW chart, and thinking the exact same song.
My wife is a Mills Brothers freak, btw.
(You can’t have her)
_____________
BTW — technically speaking, it looks like it could form a “handle” here.
If it dips to $15.98-ish, I’m doubling up.
_____________
Hell, I think this market would shrug a 9-11 type event right now.
(Smacks him in his head)
___________
A summation of this tape’s actions as of late from optionmonster- just sayin’-Razncane
++++++++++++++++++++++++++++++++
Right now every dip is being bought, every breakout sold. As a result, we get no resolution. One day, when there are sufficient catalysts, that will end.
In the meantime, the seriously overbought condition is slowly–and by that I mean fractionally–being worn off through the relative inaction. That could be great news for the bulls if it can continue but, at this rate, that could take weeks of this sort of back and forth.
Until we get a break one way or the other, this is a range trader’s favorite type of trendless market. For other investors, it becomes a matter of waiting for a directional break and then following it.
We do need to keep the previous horizontal ranges for all the indexes in view now. Given the overbought conditions, on bad news we could see these levels retested quickly. For the Nasdaq 100 that range is 1349 to 1430; the S&P 500’s is 880 to 930; and for the Russell 2000, it is 470 to 513.
I’m only up about 10% on the year so far…how much do I suck compared to guys like FLY?
Fly, you will be changing your thesis back to the deflationary vortex before the year is up.
What are people going to do? Sell the dollar and rally commodities while at the same time bidding up garbage euro and pound. That trend will end. And end badly. As I have called from summer of ’08, we will see parity between the dollar vs the euro and pound.
The least ugly girl at the bar will continue to be true as the US economy first in first out and the “flight to safety” trade make it a no brainer vs. the euro and pound.
Fly, don’t you think you are looking into utilization rates too much? I am of the contention it is just restocking.
+10% is better than what some of the bearshitters are doing, like down 70%.
Fly, will you manage my money? Seriously. What’s the minimum amount? I work full time, have a new born and love this site, just don’t have time to trade or research. I’m not lovin’ my current broker and looking for a new home. Maybe a side email to discuss. Thanks.
Fly, will you manage my money? Seriously. What’s the minimum amount? I work full time, have a new born and love this site, just don’t have time to trade or research. I’m not lovin’ my current broker and looking for a new home. Maybe a side email to discuss. Thanks.
yogi – I did cover that thing in bull paint after all, I think it worked ok considering how slow today was overall.
Sorry for the duplicate but I’m a virgin poster no more.
Please review for your daily dose of F America BS
http://zerohedge.blogspot.com/2009/06/can-we-get-this-guy-on-cnbc.html
Someone out there is still hangin’ onto their 1995 Eddie Bauer edition Ford Explorer, excited by today’s announcement thinking it will soon be a collectors item…….
nevermind, nothing to fade here, add to your shorts another day
I am not accepting new accounts, nor would I ever consider managing internet money.
Sorry.
You will just have to visit the site on a daily basis and tough it out.
Weakness in the tape seems to be misdirection. I would still bet that we close at or near the highs.
Fly, what if you wong? Oil so expsensive ah! Hard to make deep fly lice!
I request you eat a big bowl of oatmeal, Fly.
Fair enough. The money is real, but your point is well taken. I do visit the site daily and have been for quite some time. However, I am unable to access the PPT site during the day as my corporate firewall blocks it. And while at home with a newborn, well you can do the math there.
Thanks for the reply and all the best. I’ll crawl back into my lerking position. Great site!
Yo this bitch is on her 17th paternity test from all the dudes she slept with in ONE night. The best part, none of them was the father and her husband stands by as she gets the gang bang results!!! http://www.youtube.com/watch?v=OLsFq3bv25o&NR=1
Please give props to Danny again for pointing out the head and shoulders formation yesterday.
The great Gretz…scored the many goals because he positioned himselft as close to the goal as possible. Often wacked the goalie but it still paid off.
I know that being a former hockey player myself. Left wing. All though just in the Midget league. Note I had to capitalize the M in midget to get respect. lol
just had a nice day of bankage. off to the pool
http://www.youtube.com/watch?v=5C_5SVCTsKQ
chivas is god
Gotham, you are a perfect candidate for system trading.
I have almost the same life as you, except my newborn in now 3.
When he was born, it was one of a number of catalysts which required shifting to a system trading model.
Gotham,
Get around the firewall with a proxy. You don’t really need that job do you?
Gotham, in the same boat as you, minus the newborn. Just subscribed to another month of PPT only to have it blocked 3 days later by the corporate firewall. I was able to use proxies for a couple of days before those, too, were all blocked. Epic Fail. Btw, PPT is blocked because it falls into the “Sex” category. Go figure.
Woodshedder, what exactly is system trading? Link?
Wood, I have given system trading some thought, primarily through your posts, but not much more than that. Frankly, it kind of freaks me out, but much of that is due to my general lack of knowledge in how it works, finding the time to decide what to buy, sell short…the list goes on. I’ve always been one to pay someone, who knows their stuff, to invest for me. Switching to system trading will take some research, which I will do. And if you don’t mind, I am sure questions will surface which I will post to your blog or email.
Thanks.
Retox – since I’m sending this from work, let me say I love my day job. Tongue firmly planted in cheek.
Given what nd4spdgt says, I don’t think a proxy will work for long. I’d like more of a permanent solution at work, so I’ll corner one of our IT guys, feed him some booze and see if he can grant me access to the PPT.
Gotham,
What message do you get when you try?
Nd4 and Gotham- there are really 2 types of trading, system (otherwise known as mechanical) and discretionary (where you see something you like, low PE, nice chart, etc. and you buy it).
System trading can be very very simple or very very complicated, just as discretionary trading can be.
System trading is different from discretionary trading as the system tells you when to buy and sell, NOT your own discretion.
In general, faith in the system is developed by testing the system, either by hand, paper trading, or with backtesting software.
For example, you might try buying the open following either the DIA, SPY, Qs, or IWM closing above the 5 day moving average, and selling the open following the ETFs close below the average. (I have no idea if this works). This is a very simple explanation. Anyway, if you know that using a 10% stop, accounting for commissions and slippage, yields on average 70% winners, then it is a lot easier to place your orders the night before or morning before, go to work, and not worry SO MUCH about your positions (there is always some worry) as you know that over the long haul, your system will make money.
There are hundreds if not thousands of kinds of systems. The best thing to do is find a system that fits your personality. Example, if you like quick, small profits, then a short term system would suit. If you like to hold on to positions longer, suffering through some weakness but to capture a large percentage move, then a longer term system might suit.
Anyway, hit me up in my blog with any and all questions.
I can say unequivocally that I am much happier at work and have more time at home to do other things now that I trade systems. Of course it took me a few years of research to get to that place, but you get my point.
retox –
I get this message – The Websense category “Sex” is filtered.
Wood – I pulled up ALL of your posts via Google reader. Only 474 posts. I’ve got my hands full, but by the looks there are quite a few that aren’t specific to system trading.
Gotham, many have been where you are now. Trust me, you do NOT want to lose your real job. Trading is difficult enough as it is, with very few traders actually being successful at it, and making it into something more than an expensive hobby.
Here is a post from my old blog about the network admin:
http://tradewhileworking.blogspot.com/2007/01/befriend-network-admin.html
Also, I do not think I’ve written very much about what system trading is. I’ve probably written mostly about systems.
Here is an e-book to get you started. You can read it probably in 20 mins.
http://www.verticalsolutions.com/download/intro_to_testing/Introduction%20to%20Testing.pdf
@Gotham:
Sounds like you’re behind a “learning” firewall, in which case you’ll be eventually screwed no matter what proxy/etc you use.
You might want to try a remote connection/VNC to a home PC (tunneling through the http port), but chances are that would get blocked pretty soon, too…
__________
A new (to me) youtube trend…’literal music videos’. I laughed quite a bit at this one:
http://www.youtube.com/watch?v=lj-x9ygQEGA
DPeezy, I’m considering purchasing a smart phone and using a remote desktop app. to access my platform at home…
Have you ever tried that?
I have VNC from my iPhone to the home computer and it works like a charm.
Not sure what options there may be for other platforms…
Think or Swim now supports the iPhone
Thanks guys. Just ‘pacified’ my little girl and now I can’t sleep. Just perfect. I do appreciate the replies and help.
I may give the PPT a try for a few months to see if reviewing from home at night can help me enter into some short to mid term swing trades. Day trading is definitely not an option for me.
DPeezy – I agree with you about being behind a learning firewall. I’ll check with one of my IT guys, but I don’t have much hope with that angle. The smart phone idea is worth looking into, however.
Wood – No, losing my day job isn’t an option. Plus it pays well and I enjoy it. I’ll check out your links above and will send questions as they come up.