Although I expect to see a bounce today, I wouldn’t bet my balls on it. Pardon the vulgarity; but I’ve been hanging out with a lot of bears recently. Typically we just hang out near schools or places of worship, throwing marbles on the floor–laughing at people breaking their necks.
All jokes aside, natty looks pretty good here. Providing we get a bounce, stocks like GMX Resources Inc. [[GMXR]] , Arena Resources, Inc. [[ARD]] and even my little Flotek Industries, Inc. [[FTK]] will sprint, mind you, much higher.
Into today’s inevitable bounce, I like Ctrip.com International, Ltd. (ADR) [[CTRP]] , Nucor Corporation [[NUE]] and Spain, via [[EWP]] .
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I’m sorry sir, but your position as God is quickly declining due to your perma-bull position. This market is DONE. When are you going to wake up dude. It is MUCH easier to make money on the short side at this time. Unless you change your stance, you are going to get deballed.
FIG: The Fly is God. Show some respect.
I am not God. I am Santa Claus.
FISC!
(lol, quelle ironie!)
_______
touché!
What is your obsession with trying to offer me advice? Even if I was bored, I still wouldn’t listen. Talk to people in the comments. I’ll be just fine where I am.
I like to speak with God and tell him what to do. He never listens, it’s normal. Thanks for your continued commitment to us little people who are not worthy. I will stop suggesting to you what to do now and forever more. Amen.
Short selling ban imminent. Tick Tock, time’s a wasting, get ’em while they’re legal.
[aside] What, still with the FTK? If it were a horse they would have shot it some time ago.
http://www.youtube.com/watch?v=ROlDmux7Tk4
i’ll see your ftk and raise you lpx. all things in moderation.
I do believe Obama said Marine “Corpse”-man a couple of times at yesterdays National Prayer Breakfast.
http://www.youtube.com/watch?v=fNXMAFGXOUA&feature=player_embedded
And some say Bush couldn’t speak well.
I didn’t hear a single “nukular” A few Marine Corpsemen are no big deal to this or any president. They will come back as corpses in droves once we go to war with the Chinks.
both of you are racist. fly should ban your comments beacause you’re offensive to “light skinned clean blacks’ and “chinks”
DOW to 10,000!!!!!!
where is my DOW 10000 hat!
Why are all the bears so angrified over the past week? Dudes, you’re making money hand over fist and you’re all so angry. Lighten up and enjoy those gains.
I am enjoying them, thanks Mr. J. Unfortunately, us Bears have a negative view of the world as a whole. We always believe the glass is half empty, and therefore we rarely celebrate, even when we are banking huge amounts of cash. For me, my goal is to triple my money over the next year in order to pay off my entire mortgage. Anything short of that means bankruptcy. How’s that for a positive spin on life.?
It is of no import, whether the glass is considered half full or half empty.
The only important thing is the fact that the glass is twice as big as it needs to be and represents a waste of material, and therefore a wasted opportunity to produce another glass (or other item) with a previously available resource.
I agree to a degree. I do have a pretty negative view of the world, and will continue to have that view until the curtains are pulled on the shell game that the government and the banks play. Will that ever happen? probably not in my life time as the sheeple continue to believe in their so called “leaders”
I will continue to look for opportunities to make money on the short side. Things go down faster than they go up.
I will also pick up a few names long if I see some sort of catalyst or some stability in their business or sector.
Basically I tend to think contrary to the crowd, choosing to think for myself.
TMoe,
Do you see things playing out any other way than complete financial Armageddon? I’m talking about everything being completely worthless. Equities, commodities, currencies. It’s seems like it’s only a matter of time before the US’s debt blows up in their face. By 2020 the government won’t even be able to receive enough tax income in order to pay off just the interest that will be owed on its debt.
One of two things must happen if there is going to be any sort of fiscal sanity in the US… either Social Security and Medicare will have to be completely eliminated or taxes will have to increase dramatically. Then the government will have to print massive amounts of money to pay off the debt and inflate the currency.
In any scenario, you may be right shorting the market, but eventually, the money you made shorting the market will just be valueless currency.
Where can anyone be safe? Are guns and canned food goods the only sound investment advice?
It seems like only a matter of time until the dollar is no longer the world’s reserve currency. China will eventually stop buying our debt, which although not in their best interest since their investment would go down, may just have to be their only course of action since they have to stop supplying the heroin addict with heroin.
Thoughts?
“In any scenario, you may be right shorting the market, but eventually, the money you made shorting the market will just be valueless currency”
Maybe, but right now I’ll play the game of the dollar going higher and the market getting hit. I have also been buying gold and silver on the dips. Have been buying gold since early last year.
China will stop buying our debt? Maybe
I do think treasuries have an impending bubble, thats why I have recently bought TBT
Eventually (in about 5 years), we will enter a period of hyperinflation. $10 bread, $10 milk, a steak or a 3-pack of chicken breasts may be $50. It will be utterly outrageous.
The US dollar index will be probably be between 30-40. I see that as a bullish case for equities. If the value of the dollar declines, that should inherently boost the value of equities. Plus, you’re purchasing an interest in a business than can continue to generate revenue at higher levels since the price of everything else will be forced to rise.
Either way, we seem to be royally screwed. More unemployment, civil unrest, marshal law, a potential war with China. Plus the government being forced to expand food stamps, unemployment benefits, and dolling out money for entitlements like social security after our lender cuts us off. It seems like we’re definitely down that path and I don’t think there’s any way to reverse course.
Obviously this spike in the dollar index will be short lived as “the so-called safety” of the dollar is just a temporary effect from massive amounts of liquidation.
If you asked me whether I wanted 100 shares of any equity in the Dow or the S&P or the equivalent in cash and said I couldn’t cash out of the stock for 2-5 years, I would surely choose equities.
And in any dooms day scenario, gold and silver cannot save you.
There really is no way to position yourself for safety since the entire system is going to hell in a hand basket.
Yes ;
I could fix the budget in a few days.
Freeze spending at all levels expect military while the troops are fighting those two wars with a view of getting the fuck out of there. Cut farm subsidies to zero. Raise the pension by another 5 years. Means test all entitlements and the budget should be in surplus 5 to 10 years.
Oh I would cut 30% of the civil service except the military and cut the wages of the remaining by 20%.
You guys are pussies thinking you can’t close the deficit. It would be running in surplus.
For once I agree with you j
I hope that plan includes Marshall Law. Otherwise, it has no chance of success whatsoever.
worked in canada 20 years ago and i haven’t seen much civil unrest in canuckstan in the 90’s.
canada couldn’t balance its budget because of the interest. a country’s debt means nothing in itself. it’s all about the current expenses ie: the interest on the debt. the solution was to:
a) fedral gov introduced VAT (no reason why USA shouldn’t have one)
b) federal gov left expensive budget areas to provincial(state) : education, health, etc..
c) cut back army
d)provincial gov cut public service wage by 20%
e) prov gov cut back municipal gov financing. forced the municipal gov to merge cities and cut back on expenses.
however, canadians have a different relationship with their gubmints…that could be a problem…
Tax the bloody religions and non profit(ha ha) orgs..but first the Federal Gov. must lead by example and slash spending eliminate uselss programs and become lean and efficient…this would be a huge message that the world would hear..but no shot of that
If it was me in charge, I would lock out all government unions, especially teachers, replace them all with permanent scabs. This move alone would save billions of dollars annually. Then, after doing that, I would manage the government like a business and outsource most of the work to India.
Pay off your mortgage? Why not just walk away? Rent is cheaper.
I love it!! That is the new normal.
I’d rather not have that blemish on my record. I want to eventually be able to migrate to another country which requires me to avoid fucking my credit. Being a debt free, college educated middle aged man without the blemish of a bankruptcy will put me in the top 10% of the population. Unfortunately, I don’t have the millions of dollars that will most likely be necessary to choose my destination. I figure proving that I am intelligent in my finances will go a long way for many a immigration control officer.
Bears are not happy with gains, bears are only happy when economies are ruined.
That, and 99% of them wouldn’t have the balls to take a position of note in the market one way or the other. They just want to talk about important things on the intranets.
j – Come on, you know why. They’re angry, because they’ve been bearish the whole way up. Now that nonmargeddon [sic] has arrived, they realize they will never recoup what they’ve lost whether actual or opportunity cost. (Excuse the lousy sentence.)
Yogi:
They’re always so angry at life and fucking miserable , miserable human beings over all.
Not miserable at all j. Just know how to make money on the short side. Also I am a realist who knows eventually this economy is fucked. No economy survived on debt.
When will the collapse happen? I don’t know. But it will come. The people in our government care about one thing – – Getting reelected. Instant gratification is the name of the game, and kicking the can down the road is a rule they live by.
It’s actually not true, Moe. The US had a higher level of public debt after WW2 and it doesn’t have to be fucked.
You actually think politicians were better in earlier times? I’ll give you a clue. They weren’t.
They were definitely better than today. See Thomas Jefferson, James Madison, Teddy R. etc.
Look, economics is haunted by more fallacies than any other study known to man. This is due to the special pleading of self interests and due to the persistent tendency of today’s leaders to see only the immediate effects of a given policy, or its effect only on a special group, and to neglect to inquire what the long-run effects of that policy. It is the fallacy of overlooking secondary consequences
Well Teddy was a fucking moron who only like old money people.
The other two guys are fine, but you’re pointing to stand-out people and there have been thousands of political figures in the US since nationhood.
Your screed on economics is totally wrong. There are no fallacies and economics is also the study of conquences which is the opposite of what you suggest. Any decent economist will tell you that policy should always run through a cost benefit analysis.
J,
Do you honestly believe that bs?
The accounting profession that was once an honorable career has become a fucking joke of astronomical proportions. Please explain to us how this population is ever going to get out from under the massive credit overhang that we have pumped up since the removal of the gold standard in 1970.
Nearly every single property purchased or refinanced in this country over last 10 years is worth less than what is owed on it in real terms. Please explain how credit can ever be restored without a gigantic war that kills at least 10% of the population and destroys 50% of the property built out in foreign sponsored expansion.
What terrific economic insight. Complain about lots of debt and then suggest the way to solve the problem is to have a giant war that kills 10% of the population. That would sure close the debt issue. NOT
You guys are hung up about debt. Debt can be serviced if the economy is humming along. I once had a large mortgage and paid it off. Other people can do that too.
Wars don’t nothing to raise the standard of living and in fact lowers it.
It is all about debt and overcapacity that is built up through the use of that debt. We need and will end up with a war in order to cut down on the capacity we have generated. We have so many damned houses, malls, other bullshit buildings in this country that need to be leveled so that we can start producing again by rebuilding. Rebuilding can only occur after destruction. And the destruction that needs to occur has to be as massive as the build-up the preceded it.
The last 30 years of history in this country were basically froth on an overgrown empire. Our production peaked in the 1970s and has been falling ever since.
Services, namely financial innovations, software, bullshit drugs to keep old fuckers alive, etc. are not sustainable products. Yet these are the only bullshit products we have been bartering since the 1980’s began.
We are a fat, lazy, unmotivated, it’s all about me, entitlement driven society thanks to our world domination. This too shall pass, with the utter destruction.
Yes, it won’t be pretty, but it will be necessary, and the world will be much better off when it’s finally done.
World needs a huge die off ..sad but a part of history and evolution..masses need culling..look at Haiti and every other festering shit hole where death by starvation and dsease or genocide are the norm…parts of US included..Can t save everyone ..should not try.oh and I think Bill Gates has lost his fucking mind.10 Billion to vacinate people so they can then die of starvation..brilliant..no wonder Vista was such a turd, wasn t vaccinated
It is all about debt and overcapacity that is built up through the use of that debt.
Some was though not all.
We need and will end up with a war in order to cut down on the capacity we have generated.
No you don’t. That’s a moronic thing to say. What you need to time to clear the overcapacity.
We have so many damned houses, malls, other bullshit buildings in this country that need to be leveled so that we can start producing again by rebuilding.
Why destroy anything. It’s so stupid. Eventually the market will clear.
Rebuilding can only occur after destruction. And the destruction that needs to occur has to be as massive as the build-up the preceded it.
You’ve never heard of the broken windows fallacy. Look it up and it will explain why that assertion is boneheaded.
The last 30 years of history in this country were basically froth on an overgrown empire.
So patently untrue that it’s laughable.
Our production peaked in the 1970s and has been falling ever since. </i
Nonsense, otherwise GDP would be lower and it is much, much higher.
Services, namely financial innovations, software, bullshit drugs to keep old fuckers alive, etc. are not sustainable products.
Yes they are.
Yet these are the only bullshit products we have been bartering since the 1980’s began.
We are a fat, lazy, unmotivated, it’s all about me, entitlement driven society thanks to our world domination. This too shall pass, with the utter destruction. Yes, it won’t be pretty, but it will be necessary, and the world will be much better off when it’s finally done.
Of course you only want to visit death and destruction on everyone else but you, right?
The death and destruction argument has nothing to do with me, or you. It has to do with human nature gone wild. When you are given something for free, you take it and enjoy it. We have been living high on the hog for years thanks to the free money provided by the world. There was nothing you or I could have done about that, and there is nothing we can do about the destruction that will result from it.
I will do what I need to do to try and avoid being taken down by the stupidity of the masses. Does that mean I will live through the mess that is looking us in the face… I have no idea. I do know that grabbing a gun is a fucking stupid idea. Too many idiots that believe they are Rambo and can take on the world with a fucking machine gun.
I will be way the fuck away from this future hell hole that is America by this time next year if at all possible.
If you think I’m judging you, I’m not. This is not about individuals, it’s about the effects of large groups of people acting similarly at the same time. This happens whether they are aware of it or not. When the masses act in a simultaneous euphoria like 1999 .COM or 2003 Las Vegas housing, it makes everyone feel happy and rich. But when that euphoria turns around, it’s a whole new ballgame where the losers are dead, and the winners are lucky.
You are a beanhead. The USA had a higher level of relative debt. They also had a world in which the productive capacity of the non-USA world was either destroyed or impaired in some way. This time, the rest of the world is over-capitalized.
As for “anger” and such, let’s see how calm you are after watching this market get ground into sand over the next year or so.
Not true Yogi. I was bullish on the stock market until last week. I got sick of getting killed on SD and changed my stance to bearish. My thesis behind being bullish since the summer was that the entire economy will hyperinflate till the ultimate death of the good ole US of A. I still believe that will occur, but can only happen AFTER another death plunge in the stock market and commercial real estate. The time for that plunge is quickly approaching, therefore I am getting weighted into inverse etf’s. This next plunge will happen quicker than the last one, starting in Europe, and ending in commercial real estate in the US. March and April will see the highest growth in unemployment in history. This is when even the most rosey idiots like J will realize there isn’t shit that can save us anymore. People will start planning to move to other countries in droves, and the borders will start getting closed.
Its the coffee….ALL HAIL GREENIE!!! GMCR
=\
What about EP?
Price target 1046 SPX http://bit.ly/a7C29v
SMH is a beast.
If market turns around even for short time) it could be up 2-3%.
I might dip my toes here…1055 bounce came in with lots of interest; Plus mutual fund Monday, we could see abit of profit taking on the shorts.
I love the smell of napalm in the morning.
here comes the bounce
Bot FCX @ $66.91
Bot MOS @ $54.35
Bot VMW @ $43.16
666 and devildog will be back
A little late, but your hat sir: http://www.cnbc.com/id/33326855
c
Busy this morning doing some research and tweeking of a few models.
TMoe jumped on GE earlier this morning and added to my already pretty big short position as it broke through 16.
The bitch is worth 12 bucks
Would love the resources here but USD strength is kicking the shit out of them
Pffff….
Fly isn’t perma-anything (other than perma-gangsta, I suppose). For real, the guy made a killing in ’08 on this site being a bear, and a killing in 09 being a bull. Don’t let the sensationalist writing fool you — he’ll go to whatever bias is going to make the most money.
An observation, if I may: With regards to stock blogging, being a bear is much, much easier. Remember, escalator up, elevator down. When it comes to bloggery, nobody really notices the thousand paper cuts sustained to the bears on the way up; but when the elevator drops, they come out of the woodwork to publicly congratulate themselves — especially during the quick, emo bear market raids in the midst of bull markets.
emo bear market
Classic!
Well said Shithead – I think that’s a compliment?
Sorry, needed to bump the burlap art.
It’s “Everywhere!”
___
Done for the day. Golf or nap?
Nice almost 2% daytrade gain in SMH.
They won’t let this thing close positive going into the weekend with half of Europe teetering.
Fly,
Can you please stop talking about ftk? You had a losing trade, big deal. Move on. Although I enjoy reading your blog, the fact that you keep talking about ftk makes we wonder what are you doing. Fly, cut your losses short otherwise you’re not going to succeed in this game. I’m sure you know this but every once in a while we get stubborn in cutting.
What part of “do not offer Le Fly advice in the comment section” do you not understand?
Its cool…I like my nads in a vise….GIMME MORE!!!!!!!
Another Socialist economy going to the crapper – the French are getting Fried today.
quick, someone give me some stock symbols for burlap manufactures.
ha ha ha.
HAL
cute.
From the internet….Burlap is a jute product with a long history. Predominately made in India, Bangladesh and Pakistan, Burlap fabric was orignally used for curtains but now has a wide range of uses from the decorative to the utilitarian. With its strength and low cost, a tremendous amount of burlap is used in the construction industry and with the developing economic depression will also be a core clothing fabric for the masses.
Amazing facts: http://en.wikipedia.org/wiki/Burlap
“Due to its coarse texture, it is not commonly used in modern apparel. However, this roughness gave it a use in a religious context for mortification of the flesh, where individuals may wear an abrasive shirt called a cilice or ‘hairshirt’ and in the wearing of sackcloth on Ash Wednesday.”
Playing the up dollar!
As I posted yesterday. Want to make money pick up some thinly traded DRR as I did on Tuesday.
Also short EWZ.
Looks like CNBC is taking a page right out of Roger Ailes book on how to maintain ratings. Their handling of sovereign debt is irresponsible at best. Plaster a few faces up on the screen and yell-n-shout for a few moments as though everyone knows what is happening. If they all could stop trying to mug for the camera and up their personal resume for one fucking second, take one objective reporter (I’ll settle on Faber), a table, and two (max) people in the know not employed by CNBC to discuss this issue (30 min solid minimum first discussion) without the din of the traders or the market in the background then maybe people would start to take this shit seriously. These fuckers move the market – like it or not, it’s time they start acting like responsible fucking individuals. Aside from that, I would appreciate any thoughts about where responsible reporting exists on this topic. Thoughts are welcomed.
“These fuckers move the market – like it or not, it’s time they start acting like responsible fucking individuals” You must be kidding. The reporters on CNBC are simply pitch men for the rah rah rah cheery perma-bull bankers. They have one care, and that is ad sales. Stocks rise, ad sales rise with it. When the shit hits the fan again over the next month, half of the crew is going to threaten to quit and move to internet TV. Too bad they are all a bunch of blow-hards that can’t even read a fucking balance sheet. Dylan Ratigan was the only asshat on CNBC that was willing to tell the truth, and they hated him for it. Hence he jumped ship and started another stupid show on a competing network.
Pay no attention to Lung Sac. The most important part of the above rant for him was the “leg jimmy” he got out of bashing Fox Nooze.
IOW — SSDD.
__________
Jake,
I must say that you make no sense about 50% of the time – my belief is you do that so that you can tell people how stupid they are for not understanding you. Must you be a dick all the time?
If I hurt your feelings, I apologize, Lung Sac.
____________
Stutterin Gilligan Ratigan was by far the best they had…in the afternoon.
You’re adorable …Faber has no tits.
Burlap sack, cut arm holes, neck hole, pull over head.
REPENT, THE END IS NEAR BITCHEZ!
Don’t forget, plunge hands deep into ashes, and throw them up in air and allow to rain down on head, “King James-style!”
__________________
Obama speaking at 12:30 – that should get the market down 150 pts or so. Then people will panic that 10k is gone and Mr. Retail will be selling his mutual funds on Monday.
I wonder if Obama will where this?
http://www.quiltersmuse.com/images/feedsack_dress.jpg
One can buy natural burlap in bulk.
Burlap underwear can breath and the itchiness will keep you awake.
http://www.onlinefabricstore.net/burlap/bulk-burlap/2000-yard-natural-burlap-bale-.htm
Mrs. Steve just looked it up and will be buying a smaller amount and will sew me some underwear and socks from the burlap.
She will also tell Mrs. Fly to see if she wants to get some for Fly. She seems to think it will make Fly less cranky. I doubt it.
PIGS are squealing causing the market to wallow in shit
The fear trade is back on, and everybody wants our cock like little dollar groupies. So much for the stimulus essploding our USD, we’re still king kong. Just like the Dubai clownfucking on Thanksgiving, the world still goes to the USD when shit hits the fan. Yeah yeah tmoe I know it’s just for now.
He talked again. Damn!
S&P – 3 more points.
“Although I expect to see a bounce today, I wouldn’t bet my balls on it.”
I’m not in favor of betting my balls on anything, especially anything involving the financial markets. Desperate longs holding over the weekend doing so in hopes that Monday will keep the trend of being in the green. That said, looks like we trade lower from here.
Hot chicks playing football http://bit.ly/dwBFZ6
Shadup please. Tmoe,J , i have had it with your bs.
What the hell is going on with USU. It looks as though it’s halted. As the entire market gets engulfed in flames, USU just sits at the bid and does nothing…. I am starting to really like that one here.
FIG,
USU staying steady – trading 100 shares here and there. Unaffected by the market thus far.
Barry said on the 21st January ““We have to get this done, If these folks want a fight, it’s a fight I’m ready to have”
(about and with the banks)
The market has turned “2008 style” since that very day.