Big reversal ensuing, led by stupid stocks.
Crooked men, wearing burlap hoodies and velcro shoes, crawl out of their ancient homes, like zombies, to eat the brains of those who like stocks. “SHAME ON YOU,” yell the Tea Party protester, while selling short [[SPY]] with great vigor.
We have a reversal gentleman and the bears are eating your faces.
“This is it. This is the big one. We shall have a Red October, after all,” they chant from the dark alleyway, sewer pipe scene.
Back on Wall Street, men with jumping jacks in their pockets and lots of caffeine running through their veins laugh, all the while the world crumbles beneath their Bruno Maglis. Truth be told, today’s sell off of 0.9%, while discomforting, is exactly what “The Fly” predicted. None of that matters now, since the planet is tagged with a economic time bomb, not seen since the late super-fun days of the Tulip craze.
Nevertheless, as the carnage commences, I will sit here, chuckling at the birds, while counting my money. I have been selling into strength so that I can buy on dips. Essentially, the market is doing what it should do, drop like a stone—Pearl Harbor style—to the chagrin of the retail nerd.
Good Day
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I think you meant “not seen since the late days…”.
I would buy a burlap hoodie if i could find one.
So what’s your plan for when this economic time bomb hits?
a hidden paradise of solar panels and natural gas?
I am learning Mandarin so that I can communicate with the occupying armies.
Plus I am reading Chairman Mao’s Little Red Book so that I can become friends with the ObamaBots and the Red Chinese.
tiesto in dallas saturday
http://www.youtube.com/watch?v=mUhQCMPQc9Q
So is it too late to sell into strength or is there another 5 to 7 % pull back in order?
Wow! At the start of the day, I was getting calls from my broker about this margin call that I had to meet. I wondered what would happen next. Then Dick Bove saved the day! Thanks Dick! 200 short positions and I have been saved!
velcro shoes. too good.
Dick Bove – Ha ha, ha ha ha ha….
interesting close on ftk today.. few pennies above monthly pivot point.
I can see the headlines now, “Bears perform repos with WAG, CVS trading their H1N1 vaccine for prescription impotence pills.”
Crushed and snorted, the blue-nosed Bears will be stalking your local nursing home tonight.
So, that dick, Dick, was responsible? What about Raj? What about the pay Czar? What about the Fly? Don’t they bear some responsiblility too? Stocks really are for retail asshats? Is that what it’s all about Fly?
The news outlets just need something to say. After all they have to provide a “product” or they don’t get paid.
It doesn’t matter if the product (news story) is good or bad. As long as there is one. Sad state but the “state of the nation.”
I don’t think the needle moved because of Bove.
In the immortal words of Chuck D. Don’t believe the hype.
The sell at the end was probably a combination of many things..as it always is.
This just hit the wire and it’s bigger news than bove. Men with Bruno Maglis do not like this.
Hot slices of pizza will be served to faces shortly.
http://online.wsj.com/article/SB125615172396299535.html?mod=WSJ_hpp_LEFTTopStories
Chuck D,’s in the house?
“Yes the rhythm the rebel
Without a pause…
It’s about The Fuckery:
Anal Danger, My Bullish Stranger
New LP at Finer Wal-Marts Nationwide
EQIX raises guidance. AND…they’re buying SDXC north of $19 per share.
Fly Mmr was that one we should of stayed long on they were heavy levered to natural gas and it was cheap
“as long as the dollar (UUP: 22.34 -0.53%) is weak, equities are free to run with the wind. If you are short stocks, you are in for a very arduous Halloween.”
followed by…
“Essentially, the market is doing what it should do, drop like a stone—Pearl Harbor style”
Senor your analysis reminds me of two words: confused & clueless, stick to smallcaps, dude, you have no idea what macro trends portend
you are parsing words. look at the bigger picture, such as exclamations of being a net seller yesterday. And telling you that although the market is climbing, I am not buying.
You are stupid. That is why you cannot understand my prose.
Holy Mackeral. Does not Le Fly do enough around here? Your confused beause he’s been lightening up, and not buying but remaining constructive.
HOLY SHIT! UNGRATEFUL BASTARD!
If I were fly, I’d ban you.
Made Man, you and 95% of the others like you on this site need to stop trying to suck Fly’s dick via the Internet. You all sound like fucking fags saying that the Fly Is God, or Fly this or that. Statements like this make you look like a bunch of pussies, which you likely are. Pussies that need to read blogs on how to pick up chicks and what to say to make new friends (thank god Fly got rid of that douche bag, Jason Treu from the blog list, it was ruining the credibility of the site but I digress).
Overall, I actually like this site and find it very entertaining and valuable but I honestly can’t stand to read another covert “I wish I could suck your dick, Fly” statement in these comments anymore. Stop fucking worshiping this guy just because you can’t fucking invest your own cash for yourself. Just like Fly says again and again, you don’t have a fucking clue and he is talking to people like you Made Man and all the other twats who repeatedly comment “FIG”. Fuck all of you little pussies. I am a man and I can say this to you little fuckers. Stop it, you are embarrassing yourself, not to mention your fat ass mothers.
Confused actually has a point, some of the Fly’s recent remarks, even taken in context are quite bullish and one dimensional so this post seems a bit ironic all of a sudden now that the market just dipped by a meaningful amount. I of course don’t think Fly Is God or any of that bullshit. I think Fly is smart and frequently makes good calls but no one knows for sure, even with his fucking time machine. Therefore, I don’t give a shit when he is wrong from time to time, fuck, he still might be right should the market rally again in the next few days, which of course, would make him wrong again. Quite the conundrum we have here but who gives a shit; write your own god damn opinion and be willing to change it when the market shows its hand from time to time, just like Mr. Fly is doing. I respect that; no big fucking deal.
The point is, Made Man and other pussies like you, stop wishing that you could suck Fly’s balls by posting gay-ass comments like this – it makes you look like a fucking homo.
Good day.
Wow… That’s an AWESOME Fly impression, Howie! The Fly’s gonna be sucking YOUR dick!
I’m sure but he’ll have to wait his turn.
howie,
you are the one that should be blogging. that stuff was hilarious.
TQNT is getting smoked….
i sold out yesterday. will buy back
1060 min….1040 likely. VIX reversal. But…
‘Death of ‘Soul of Capitalism: 20 reasons America has lost its soul and collapse is inevitable’:
http://www.marketwatch.com/story/americas-soul-is-lost-and-collapse-is-inevitable-2009-10-20
Crate-Digger: ‘Soul of Capitalism’ alive and well:
http://www.youtube.com/watch?v=mpfcydeSGeo&feature=player_embedded
Greetings Fly,
Sweet ass sell on TQNT …
At what point are you planning on start buying again? 15-20 more SPX points from here or you think this would be one of those 70-80 SPX point selloffs?
-Panda Bear
need to hear conf call
Actually question around starting to buying again was for the overall market not TQNT …
Thanks
when ppt hits 2.20’s
go get the money back from Goldman Sach gentlemen.
http://spikedhumor.com/articles/192888/Goldman-Sachs-Magic-Trick.html
SKF might be in order with the banking system going to shit today and WFC havn problems
All I’ve done everyday for the last 3 days is eat a sandwich
And I don’t expect that to change for a while
gotta think your gonna stop out of most of your $100 Rollers. EQIX getting hit.
I made some sweet cha ching closing on the EQIX at 100!!! Merci beaucoup! The Fly is all knowing, all powerful, all mighty.
Gravatar.
Please check out my POWR up 9%..thank you The PPT.
Also the V.King doesn’t always write in the 3rd person. Yet he always speaks in the future pretense?
Can someone please list the top 10 Sith lords in order…AND PLEASE include Le Fly.
Thanks
If you will be speaking in the future tense, you will be speaking thusly.
Will you be sure you will not be the Techno-Viking?
_____________
You will crack me up.
I am having trouble calculating the spam protection.
Thusly…hmmmm, well played.
Mr. Gint you must realize something very quietly…I have no time for things like grammar, syntax or spelling.
Now get busy with my hedges.
I WILL BE HAVING trouble with the spam protection.
I will be insisting that you always will be speaking in the future tense, now.
____________
Oh shit, you will be cracking me up.
Sold the following into the reversal: Raising more cash as Fly suggested … either for dip buying or going short if warranted …. see OEW summary below
MMR @ $9.17 (13% gain)
XIDE @ $7.33 (4% gain)
IPI @ $28.31 (12% gain)
CRNT @ $10.29 (16% gain)
Per OEW:
“It appears that the five waves up from early October and SPX 1020 have completed with today’s high at 1101. This would suggest, barring another extension, that Primary wave B may have concluded. The markets will need to drop to SPX 1050 and NDX 1700 to get a downtrend underway.”
Time to check your coat at the door … careful boys & girls
Forgot one …. also sold BLC @ $6.00 (9% gain)
Resume discussion ….
EQIX getting aspirin’d in AH
Just to clarify for the mentally impaired:
I write with sarcasm all the time. Beneath the sarcasm, I am bullish, but a net seller. Meaning, I rather preserve gains here instead of pressing the evelope. I don’t know how many ways I can say it. Net seller, don’t be greedy, etc.
I will not short, but will raise cash on strength.
What’s the PPT reading now?
Wouldn’t you like to know?
bammmm…..
don’t ya’ know….
nuff said.
Yes but I guess I can go fuck myself instead
Howie,
Great post, glad to see there is at most one other person on this site that is willing to think for himself.
As for all you pussies that sit on your knees waiting for Fly to piss on you, you are pathetic and will never make money depending on someone else’s crumbs.
Sure, everyone beat up on the guy with the time machine.
I will deal with you fools later.
You misconstrue. Confused and Howie are just dicksuckers of another flavah (sic).
They are angry that the dick-sucking is not sophisticated enough.
And I think Howie wants to “pitch,” if ya know what I’m sayin.
_____________
Indeud (sic). I think Howie is the dude with the match in the linked narration;
http://www.youtube.com/watch?v=3_Jt_g10Jug
(obtw, this is the funniest fucking story I have ever heard. Listening to it still makes me laugh so hard my stomach hurts)
fifd
Holy shit i went all in today… wtf i thought this was a free money marathon. Save me Obama save me!
No worries, your winnings would’ve been “clipped’ by the Pay Czar anyway.
_____
Fly…. there should be a picture of you in the dictionary next to narcissistic.
Too late. Obama’s picture is already there – he is also very ideological.
I’m still interested in hearing what your outlook is for the macro picture…
Oil supply peaking… US will have debt at 80% of GDP over the next 10 years…. Japan may have debt at over 200% GDP by then… more droughts / famines / fresh water lost b/c of global warming…
Where does a money manager put his money as thing begin to decline over the next 10 years?
With regaurd (sic) to the SPX’s late day machinations…. you know what to do!
__________
To answer your question pal: I will put my money where it will increase in value.
So basically you are going to worry about it later… ?