Sunday, December 4, 2016
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
14,832 Blog Posts

Friendly Reminder: You’re Not Qualified

Why do you care if I lose oodles of money? I’ve been doing this shit for over a decade and have survived and thrived in all sorts of fucked up markets. This one is no different.

So, I am making a call. I choose, fully aware of the homos in Greece, to be long, despite the wall of worry. Leave it up to people like Dylan Ratigan and Rick Santelli and this market will be trading just north of 30. It is my belief, and always has been, they are both misfits, totally unable to discern a rabbits ass from a donkeys. See folks, some people are meant to fuck goats in Romania, others ride horses and raze villages for sport.

How much lower will the market go?

Geez, you fucking assholes make me sick, talking so much, so fast, about “sovereign debt” and the “grave ramifications” of said debt. Did you even hear what Cisco Systems, Inc. [[CSCO]] said? Are you aware that end user demand, ranging from commodities to denim at Guess?, Inc. [[GES]] is thriving again? You’re mixing up the honey with the urine, jackass. Huge declines hurt and in hindsight I should have sold more, just to be safe. However, here we are with a decision to make.

Is this sell off the 2008 variety, with all of its cancerous trimmings? Or, is this your standard, run of the mill, 10% market correction, that will soon be nothing more than a bad memory?

I can’t answer that question for you just yet. However, I will tell you, based upon the laws of The PPT algorithms, we are indeud OVERSOLD. Every single time The PPT dipped below 2.30, the market, almost to the day, surged higher, immediately thereafter. Well of course I know trends are made to be broken. I can hear what you are thinking and right now you are doubting Le market hand de Le Fly. Nevertheless, like George W. Bush, “I’m going it alone” and will “nu-ku-lar” your fucking faces, once this “mission” of mine is indeud “accomplished.”

[youtube: 616 500]

UPDATE: I bought 10,000 [[EWP]] under $40.40, based upon my balls to brains relationship.

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  1. Goldie

    All i know is that when xlf broke 14,i got a big bag of SKFfills..

    The iphone app is offically crunk now as this post comes to you at 75mph in a 25 mph zone..

  2. Le Fly

    Would you prefer that i sounded like “steve”

  3. Hammy

    Helicoptor ben: by your math, we’ve got about 350 more points to go down.

  4. Rand

    Love the commentary. Wish i had money to invest, i am one of the few who owe money to the company store. Watchin others make what i cannot, luck to you all.

    • robert

      don’t you have anything better to do than to refresh your browser every ten seconds and then type “fig” when he posts something, anything?

    • mrsbuttons

      coldplay wankers are so gwyneth…ratigan thinks he’s cagney and santelli thinks he’s rocky and the market thinks it’s on toyota brakesand none of it is real or important. the head of petrobras says we will be at peak oil in 2010 – that is important. Unempolyment in Spain is 18% .

      I am short caballeros. And if that keeps up I will buy a loft in Barcelona, throw olive pits on tapas bar floors, and hang out in the Rastro with the beautiful.

  5. DSB

    Dynamite, sun, etc.

  6. AI

    At least is worth putting some hedges on IMO

  7. Gary

    Just had to pop by to say hi!

    Do some research Fly..Cisco signing their own death warrant……-You-Heard-It-Here-First-Lucent-Gastric-Reflux.html

    So glad you’re staying long, stick with it, please don’t close your longs, please add some more.

    Many thanks.


    • Cuervo's Laugh


      You must be new here or you’d have a better idea of what kind of ill reputation Karl ‘Doom Doom’ Denninger has in the spot.

      Here let me clue you in.

      • Gary

        Oh, I’m not new here. Some of the posters put up some useful technical stuff….I haven’t read any of your stuff, odd no?

        Karl and I share similar views, and I doubt he loses much sleep about you disagreeing with him.

        No doubt you and Fly and your PPT will make lots of coin buying these dips.

        Please keep buying them, i’m sure a new high is just around the corner, unless it’s a mirage.

        Have a nice evening.

  8. billy is silly

    If we rally tomorrow with awesome jobs numbers (and no i don care if the numbers are fudged) I shall by the PPT and recommend it to 38 friends. If we go down tomorrow… I just don’t know what I’ll do.
    Good day FLY

  9. DPeezy

    Who gives a shit about the stock market when our long-standing ketchup-packet nightmare is finally OVER!!!

    This calls for much rejoicing!

  10. xxxhuggiebearxxx

    This entire situation is a gigantic case of Hawg Balls.

  11. Big Mike

    Do you guys watch the VOLATILITY REPORT on OptionMonster?

    Seriously, those guys are always WRONG!!! It is in fact, a quite impressive feat…

    Do we break 10,000 today? YES OR NO!?

  12. lindsay

    Didn’t paint house but had a good ibc blogger advice/ppt scores and ppt user notes kind of day. All buying and all long positions– and plan to buy more tomorrow. You and your team have taught me to have my homework done ahead of market swings, my lists ready and all the tools to know when it’s time to buy– as well as your ongoing strong emphasis on risk management.
    Turned in my keys to the fazmobile a long time ago, and have you to owe for that gift and improved health in general. The whole fear of the “next dive” is no longer part of my life. Wasn’t too keen on the whole bean and rice thing anyway.

  13. scum bucket bitchez
    scum bucket bitchez

    Be afraid, be very afraid.

  14. Erin Burnett's Booty Call
    Erin Burnett's Booty Call

    How did the PPT score in the fall of 2008 or the spring of 2009? I know it wasn’t officially up and running, but has it been backtested? Serious question. If you get a buy signal every time it dips below 2.30, and it has only dipped below that number in a bull market, then you could very well be sticking your dick in the woodchipper using this buy signal.

  15. pissininthewind

    You’re da man but…What tune were the shorts singing while the market remained overbought for so LONG. My point being–the oversold indicators can stay ther for some time whilst you leave a fortune in the dust. Up and down she goes where she stops only DA FLY knows.

  16. Skeptical

    Tim Knight wins. He always wins, even when he loses.

  17. The Fly

    how dramatic, a close at 10k on the nose (faint)

    • long ge

      I prefer the touching of 9999.91

    • xxxhuggiebearxxx

      You know what is going on here. They run it down to 10k, because that’s as cheap as they can reasonably run it without causing absolute terror and pandemonium and a possible complete market breakdown.

      As it is, run it right down to the trip wire, rape and pillage people’s shares on the cheap, and then manufacture a bunch of good news.

      “Goldman puts the United States on its conviction buy list, news at 11.”

    • Honey the Alchemist
      Honey the Alchemist

      Hello Fly,
      Honey here, writing from Romania. Let me dismount my goat. Ok, there. Yes, I did hear what Cisco said and then I looked closer and vallah! Ah ha! “THEY ARE WRITING THEIR OWN FINANCING AND HOLDING IT OFF OF THEIR BOOKS!” PEEK A BOO, CISCO! I SEE YOU!

      So the Fly bought the Cisco’s slight of the hand? I would say yes. He did and Cisco didn’t even have to flavor it up for the Fly. I have learned a lot today. All one has to do trick the Fly is to tie up a balloon animal in the air with one hand and when the Fly’s mouth drops open in amazement, shove a Mr. T Fisting Toy in his pie hole with the other. Are you kidding me?

  18. TMoe

    Nice strong sell volume into the close. Oversold you might say, I say it is just a look into what is to come.
    Get in the funnel!!

  19. TheArtist

    lovely day.
    what’s for supper?

    • The Fly

      I am having a roast, with rosemary potatoes and a bottle of French red.

      • The_Real_Hmmm

        Nice. Two recommendations though. One time you should try cooking up some fatty bacon, reserving the liquid fat in the pan. Instead of coating the potatoes with olive oil use the bacon fat, some salt/pepper, and rosemary, then roast. Another side dish that is very good is potatoes doused with olive oil and salt/pepper, lightly seared cubed pancetta, and brussel sprouts (quartered) all placed on a baking sheet and roasted in the oven. Finish with some butter and lemon juice, and toss in a bowl. Very tasty, if you can handle the “work.”

      • JakeGint

        You give Rosemary back her potatoes or I’m going to inform your wife.


        • SteveTheNeighbor

          Sounds like a fine dinner. I will send Steve, Jr. over about 7:00PM to get the leftovers. Okay?
          Mrs. Steve is all excited especially about the wine. I told her no wine as she just finished the 12 step program at AA. She was addicted to Manischewitz Grape Concord. I blame Rabbi Moshe for getting her plastered every Friday Night.

        • Another statistic
          Another statistic

          Tomorrow will be a special event for me…I will be a member of the unemployment number for the first time in my life. Whats interesting is I’ve been out of work since Nov. when my bank got shut down by the FDIC,I thought I would rebound quickly,but after the new year I realized this could take awhile and submitted my first claim 2 weeks ago…The direct TV has been shut off and the flat screen has been sold. The house is for sale,but fairly priced…no fire sales here..Luckily,I have no credit card debts. 90% of my food comes from a drive thru value menu…Burger King whopper jrs and Wendys chili and baked potato (I think i’ll ask if they can pour a little bacon fat over the potato next time)…That said,I couldn’t resist adding a couple of stocks to the 401K this afternoon, US Steel and Maxwell technologies.

  20. koushuu

    Enjoying my burlap sac tremendously today as I ride away into the sunset in the fazmobile.

  21. Rand

    To another stastic-
    I have been unemployed since jan 6, so I know how it foes. Been living without heat and water for a while, so its no news to me. problem is I bought into the obama bs, when I helped elect him. BIG mistake! Wish there were jobs to be had though, so here is to the lone star state unemployment check.

  22. Rand

    To another stastic-
    I have been unemployed since jan 6, so I know how it foes. Been living without heat and water for a while, so its no news to me. problem is I bought into the obama bs, when I helped elect him. BIG mistake! Wish there were jobs to be had though, so here is to the lone star state unemployment check.

  23. mrsbuttons

    mr fly – are you selling coco on the downgrades?

    if you are still long the market with steel resolve, you still in NUE and PKX eh?

  24. Sam

    The dreaded homo hammer strikes today!

    Tomorrow should be very interesting indeud. Gawd, I love this all this drama a.k.a volatility!

  25. mustard seeds

    Kaiser the Dog just told me he wanted to chime in….SKETCHY….its still SKETCHY out there….

  26. BullBear-alope

    Dow 9200 is where we will fall. NEVER doubt the BullBear-alope. My trend indicator is foolproof. My black box rules the trading universe. I predict all market changes BEFORE they happen. I am allowing all neophytes this 1 unique opportunity to do the right thing.

  27. arch

    nibbling on “C” right here @ $3.18

  28. Helicopter Ben Rules!
    Helicopter Ben Rules!

    This is just a typical 10% correction. A few weeks from now anyone who is not buying this with BOTH FISTS will be kicking themselves for missing the BUYING OPPORTUNITY OF A LIFETIME.

    Ben Bernanke is firing up the printing press as we speak and will be dropping money from helicopters tomorrow morning. Bears are gonna get clown raped again as we rocket higher tomorrow!

    • mrkcbill

      Today felt like Fortune Cookie Thursday. Whats the next fortune cookie? Are shoes still dropping? I thought with Paulson hawking his book on Oprah this week that the worse[sic] was behind us? Are we going into full on Denninger mode?


  29. steve

    Fly, you’re starting to sound like Cramer.

  30. JakeGint

    Or, is this your standard, run of the mill, 10% market correction, that will soon be nothing more than a bad memory?

    Sheeeit, son, we haven’t even hit 8% yet.


  31. pissininthewind

    “We have to wake the fuck up and understand that life is not what they’re telling us. [The Fly] is feeding us a lie – and that lie has to stop, today… now. There’s no more time for bullshit, no more time and no more tolerance for mind washing. We want the truth, we want freedom – not slavery.”
    Tyler Durden