The Fed just wants liquidity and they could care less if you get nailed at the pump, the fruit stand or even the hamburger shoppe. The mantra is to continue the path of easiest inflation, in order to “feel good” and avoid making hard choices. It’s politically convenient to pass the buck down the road, ignoring basic mathematics, pertaining to insurmountable debt payments and general expenses. Nevertheless, the stock market is only interested in near term data. If you think about it, the market is pretty darn stupid, representing an ironic cross section of this countries fiscal policy.
Deep down, I am afraid of what this country will look like 10 years down the road. The way I see it, our leadership is too impotent to get anything done. Moreover, the great experiment known as American Capitalism is best represented today by the ponzi schemes of Bernie Maddoff, than the industrious men of the 20th century. Very apropos.
As for this tape:
I am not impressed and would sell, if I was not thinking 2 months in advance. The post Fed sell off may spill over into tomorrow’s opening tick and test the durability of this rally.
Into the bell, I am content with my stocks being up, but disappointed that the rally was stymied by lunatics in burlap hoodies and velcro shoes.
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FIG
Is this going to be a bearish engulfing salami day?
… very interested to know if ppt hybrid was at 2.99 today.
no. hit a high of 2.77
interesting… to help, I’m giving thanks now to the turkey gods, for more ambrosial coin. thanks fly.
Gold still denying the reality on the ground but the rest of the market seems ready to shit the bed!
There is no trade here yet and the smart thing to do is, wait for a trade to come to you. Not ready to get bearish yet but sure looks more likely that this might be the trade setup developing.
Fly, not to appear as a kiss ass as I have no reason to, but you truly are an incredibly intelligent dude in many ways. good on you! If there’s anything that I could comment on is; why be so busy with short term, little trades? Save your energy for real/bigger trades.
my strategy works. why fiddle with it?
Joe,
You must be relatively new here. Fly’s system has a relatively short term focus.
And indeud, it does work. Watch the next time he goes from long to short in a matter of hours.
Until then, please do not be such a kiss ass hehehe. Just kidding
Sentiment shifted from crash mode to consolidation mode yesterday.
Best strategy is to sit and let the market tip it’s hand.
touche
Good ol’ HBAN is starting to look good down here…
Someone needs to do an updated mash-up of above refererenced white-boy rap classic:
Word to your Moms…
Ah like to drop bombs…
Ah got more rhahms…
than the Bible got —
AH THROW IT ONNA GROUUUUUUUUUUNDDDD!!!
Yeeeeeeeeeeeahhhhhh!!
________
The BEARS owned Halloween and they will own Thanksgiving, XMAS, New Years and Memorial Day. The fly will have his wings pulled off and walk around in his pile of endless bull shit forever.
Who bailed you out of fuckin’ jail?
dogless:
How’s your dad’s account going.. that you stuffed with FAZ.
Wasted – http://www.youtube.com/watch?v=mcgwEv-BAbQ
I’ve been looking for a decent rendition of this song.
Not bad.
http://www.youtube.com/watch?v=35iyXn6UQ3g
Is that you playing?
Not a big fan of Wayne new stuff, but he go hard on his new mixtape “No Ceilings”.
“I’m more animal than the zoo allow”
I wish I could play it that well. He nailed it.
Thats a little harsh dog. Remember your blog days ? When the Fly had the good patience to teach you how to write. “I can spell FAZ so there for I am” those were some profound words Dog
fere libenter homines id quod volunt credunt
Financial advice for women.
http://www.slashcontrol.com/free-tv-shows/onion-news-network/3896278743-stalker-financial-expert-offers-recession-tips-just-for-woman-he-follows
Federal Gov t a Ponzi scheme.. Fed knows India and China buying tons of gold at top dollar, will wait till purchases are complete then strengthen the dollar..double fucking them as gold drops.IMO
That may happen, but gold will go over $2,000 in the next few years
Maelstrom you are an idiot. If dollar strengthens all the indian companies will sky rocket due to exports – Infosys, Wipro, Tata, etc. etc. India benefits both ways.
America’s Time has passed.
http://www.sphere.com/2009/11/03/70-percent-of-young-americans-are-unfit-for-military-duty/?
Sad indeed.
LOL. The gov has always raised and lowered the bar based on troop needs. Believe me, if they need to, they’ll recruit a sixty yr old ex con.
“America will never be destroyed from the outside.
If we falter and lose our freedoms,
it will be because we destroyed ourselves.” – Abraham Lincoln
True indeud
True True and more True
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself.
For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear.” — Cicero (106-43 BC)
10 years from now i see alot of hobos riding buffets rail system around the country..so for me to avoid that a break even stop is in the works
Sadly, I agree.
Long rates starting to rise because ROW is has started to raise rates – FED becoming less relevant here. These long rate rallies should halt the stock market rally in the US for awhile.
BTW – couldn’t , not could
Cramer spewing shit about us bears. He is a fucking idiot!!
Who is the person he keeps playing clips of?
Why are you watching Cramer? I don’t think that guy has any effect on stocks anymore.
Yeah thats right WFC is doing the right thing.
Thats the way to fix the problem. write down principal, then put the borrowers on another interest only loan to keep them in a home they can’t afford. push it on down the line
Up day tomorow? I think NOT!!!
Steve Lies-man is drinking the FEDs kool aid…. That was funny
“…the market is pretty darn stupid…”
Don’t recall tou EVER using the word “darn” before.
Merry Christmas all you fuckers in California. You just got your state withholding taxes jacked up 10%.
Don’t worry. You’ll get it back in April of 2000 & never.
http://www.latimes.com/business/la-fi-state-tax31-2009oct31,0,2028140.story
Dave,
That’s very classy of you. Being in CA myself, I realize I got jacked. But if I and my state go down, if you reside in the U.S., I’ll be taking you and yours down with us.
Merry Xmax to you. If this boat sinks, you might as well start selling your kids toys on eBay.
Thanks for being the typical American.
* fat
* lazy
* self-centered
So Fly, do you think, as I believe some do, that the whole Buffet Railroad buy is really a play on Coal for the long term?
Thoughts on Coal?
bni is a mover of corn/wheat. I can’t get bullish on coal.
45% of all rail tonnage = coal.
http://www.aar.org/NewsAndEvents/~/media/Files/RailTimeIndicators/2009-10/Rail%20Time%20Indicators%20October%202009.ashx
of course they move coal. I was not implying that they do not move coal. But they are also very focused on grains.
I just hate coal.
Natural gas is the new coal, and Natural Light precedes natural gas.
Ghost,
I am self-centered. I am not fat or lazy.
There is no stopping it now. I live next door to Jefferson County. Soon to be the largest US municipal bankruptcy thus far.
I did visit San Francisco not too long ago. It was O.K. , except I was allergic to the smell of stale urine from all the bums there.