Will Someone Please Punch the Dollar in its Face?
Jim Cramer, Halloween disguise, 2009
The market is dislocated from reality and is trading EXCLUSIVELY on dollar volatility. Check [[UUP]] for reference.
Additionally, today is the final day of the year, tax-wise, for most mutual funds. Thus far, its been a great year and most funds are up big. Despite what Jim aka “Simple Jack” Cramer said (end of year buying spree), we are enduring a severe sell-off, which is entirely logical. After all, if you are a fund up 35% for the year, it makes no sense to bid your stocks up now. What makes sense is preservation of capital. So, God willing, on Jupiter’s Stone, the market will rebound on Monday, following today’s broken elevator action, and resume punching the dollar in its face.
Think about it. Quit having a boring dollar. Quit having a boring life.
Sell the dollar; it’s stupid and worthless. We should all become gold miners and kill each other for gold dust. Amputate your neighbor’s arms and legs, so that he will be unable to mine. I feel it in my bones: “The Fly” is destined to have that sort of life.
To hell with my aspirations of being some big shot Wall Street fat cat. I will travel west and discover gold. And, with my findings, I will “settle” somewhere south of the Black Hills and farm, until the Sun bakes my Irish face black—sort of like Guy “Eggplant” Adami.
As for the market, I am scared of it and will not look at the darned thing. Exercise some caution and don’t buy today’s dip: that would be plain ol’ vanilla stupid.
57 Responses to Will Someone Please Punch the Dollar in its Face?
nice rambling, but how is it gonna make me money ???? you Gold Digger you!!!
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Who cares how it makes you money? Go see a psychic.
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I’ll trade you 3 Stanfords for your Madoff
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is the PPT in the 2.20s still?
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that was yesterday. Does not apply to today.
Thanks
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calendar?
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tax year over
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S&P 500: a real break of the 50-day moving average could undo the rally
The 50-day moving average, last at 1052.29, is the proxy for the uptrend off the March and July lows. It has been broken for a third day running, and the index is making a new relative low. This is happening on remarkably thin trading volume in the underlying. There is however a volume surge in index ETF trading, in this case the SPY, which is running at 75% of daily average volume, while the underlying is barely at 50%. While this skew does not necessarily mean the move is a head-fake, it is possible that what we are seeing is a futures-led move that can be quickly reversed on real buying in the underlying. If it is not, and the S&P closes well below the 50-day, the rally off the July lows at the very least may be in jeopardy. Next major support in the S&P 500 is at 1019.95.
“and is trading soley on dollar volatility” – FLY! SOLELY!
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Shut up.You are like a 6th grade grammar nazi
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Nov 2 2009 will be the NEW Black Monday.
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never go full retard
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black is all the rage.
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“today is the final day of the calender” FLY! CALENDAR!
When will you start letting me edit these posts before they are out for the world to see?
Or do I merely make it worse by pointing out errors that 99% of the people who read this blog would never notice?
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“Thus far, its been a great ” (it’s)
If I were you, I would hate me by now.
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its is correct. IT’s would be stupid.
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whats ppt at now?
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“become gold miners and kill eachother” (each other)
Am I banned from your site yet?
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The smoke is dissipating, and the horizon presents NEW FUCKING LOWS!
Obama is wrecking the fucking economy.
BTW, Fuck You All.
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oh hi Donny, Where have you been for the past 8 odd months.
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Donny
You used to be smart. Now you are just some dumb guy. Where have you been?
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love the magnolia ref. Fly
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LOL!
I’ve heard that shit from u before. You are a follower speaking to the same people everyday … I am an Alpha Male!
Remember: http://ibankcoin.com/flyblog/2008/07/09/donny-is-a-freakin-retard/
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“Amputate your neighbors arms” (neighbor’s)
I am done. I apologize. I am a proof-reader with OCD. I hope my gadfly action helps in some way to contribute to the iBankCoin army.
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Speaking of the Army, when is the next meeting to discuss the end of civilization and the proper method of curing venison?
I would suggest Halloween, but I will be busy dressing up as the back half of Mr. Ed.
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you are on the roll there jacko
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“The market is dislocated from reality ” — well no shit
It has been since the rally began. recovery yeah right I call it a cover up and sham, a sheel game the curtains will soon be pulled along with the magic rug this market has been riding on. Short GE, BAC, buy some SPY puts and enjoy the ride
TZA’d up @ 13.96 to ease the pain of my nuts being pushed in today.
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3.5% GDP was made from marshmallows.
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Car shaped marshmallows
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Fake news, fabricated numbers, just another lie from the government — whatever you want to call it, none of it matters. The liquidity trap has been set
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The market is a forward indicator. It is currently indicating prison rape. They sold us out for a pack of cigarettes. Assholes.
Is that a haiku?
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Nothing smokes better than a pack or prison rape cigs.
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Moe
and what are the actual numbers. Presume if you know they’re fake, you must know the real number?
Was the chicago PMI released this morning faked? Was the worse than expect Michigan PMI also faked?
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Of course I don’t know the real numbers, but it does not matter anyway. Go ahead and keep the belief that the government media complex tells the truth.
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Moe:
Dude, I’ll continue to hold the belief that you’re fast approaching troofer delusional thinking while i think government data by and large is generally honestly prepared.
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We support a strong dollar. Our economy is sound and growing. Our financial system is solvent
and our banks are strong and well capitolized [sic]. Real estate is rebounding strongly. Job growth
will be “unbelievable” just over the horizon. Do not be alarmed, everything is fine, really. We’re not making this stuff up. The 700 billion was all we needed to fix everything. Just like we said. Don’t you feel better now.
It’s all fake unless it supports your views
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Hahaha, this post is made of win. The Fly is one clever motherfucker.
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No kidding,
Some great posts from the Fly today
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If you take the two largest crashes and the dates for same you get 29 (10/29/29) and 19 (10/19/87).
Subtract the two and one gets 10. Add Yogi Berra’s uniform number 8 to the 10 (8+10) + 12 which is ex-Miami Dolphin Bob Griese’s number and one gets a total of 30. Today is 10/30.
Spooky?
Believe it or not. Note to self- No more beers at lunch.
Note to self
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ZOMG!
That’s almost as good as the world coming to an end because the Mayan calendar maker got bored/tired and decided to not create a calendar past 2012…
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Yeah, he even left of Christmas of that year.
Bastid.
_______
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VIX …..going ape-shit
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Apes buying bananas in three piece suits.
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SO IS MY BLOG!!
FLY / V. King
2 0 1 2
Fuck It— I’m wearing Green Leotards tomorrow tonight.
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HA!
KC Bill is King.
The Fly is God.
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I saw a bumper sticker the other day that said:
B.O. STINKS!
SO DOES BARACK OBAMA
Depending on whether we bounce here and now (1038 on the SPX), you may want to burn this post.
I’m wading in, however….
_________
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I noted (in a long-winded comment) on Sept 1st to Fly’s post “Tragedy Hits Capital Markets…,” that sociophysicists/econophysists have been calculating (in publised peer-reviewed scientific papers) the approach of a point in U.S. markets of infinite “crash hazard” probability. Such calculations transcend “charting.” Log periodic oscillations in data (such as price) reflect a fundamental symmetry in the laws of Nature that also apply to people, rivers, galaxies, evolution of species…and economic systems. Today is the last trading day before the calculated point.
As I commented on 9/1/09 (http://ibankcoin.com/flyblog/2009/09/01/tragedy-hits-capital-markets-hide-the-kids-sell-the-house/):
“The calculated date for the next critical point based on log periodic oscillations that started accelerating at the end of 2003, (and first identified by physicists in 2004), is November 1, 2009. It is not a foregone conclusion that Nov 1 is the date, but it is a foregone conclusion that we are approaching a critical point.”
Maybe that point is today? Who knows? It is coming though. If not today, we are in the final stretch. FYI: I might add that the next critical point in the evolution of humans has been calculated to be around 2050. Either a new paradigm will emerge to save humanity (e.g. clean energy), or we will face something of magnitude (say, on the order of World War III). Interestingly, long before that point it will be illegal for The Fly to read his own blog.
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The bad news (for the bulls) is that the market is tanking.
The good news (for Fly and his employees) is that iBankCoin will be seeing higher eyeballs now.
My boss says a little adversity is good for the soul
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He doesnt know I lost a quarter million dollars on his equity line the last few days 
I can read Zoila.
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You guys(?) sound like girls. Belly up , buy some dips, and bank some coin. Or, wait ’till it’s too late on Black Mond….(sound of being strangled)
I bought UYG @ 5.25 and SLW @12.05 Not a ton but some. Be the Bull- or go home and put on a bear costume.
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Are there pop ups now on iBC?
I just had one blocked.
We is crashing.
Turnaround Tuesday about 11:15 will be here soon to go long.