“Bearded Clam” Bernanke tells us we need low rates, for a long, long time. No shit, dickhead. We need low rates because just one year ago today we were on the precipice of total and complete collapse of the modern banking system. Don’t forget, we can still fuck this up, sending us back into the stone age. Forget about inflation; try to focus on the greater evil: deflation.
With my money, I am seriously considering a position long [[VXX]] and short NIKE, Inc. [[NKE]] . The days of the Nike Slave Prisons are coming to an end. Let it be known, no one wears Nike sneakers anymore, not even in Harlem. In all seriousness, the upside is 1-3 points with 10 points down. The Vix trade is a cute way of saying “stocks are heading lower, asshat.”
Thus far, the market is higher, giving my longs a boost. And, much to my delight, my [[TLT]] position is up too. So you know, [[TLT]] is now my largest position by a factor of 3.
It’s time to teach those treasury shorts a lesson or two about this here government. The dark forces of the Grande Recursive Order of the Knights of the Lambda Calculus shall thrust their monetary spears into them, while chewing on gobstoppers and other childish sweets.
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Love it “me”
Fly, I agree. Deflating anything is bad: Tires, Mkts, etc…all bad. But how do we pull the money back, Fly? Our prints are now 220% of 2008 currency. Do we just let it sit there? Eventually (as with all things) we will correct, right? And then?
Basically we have replaced the gold standard with the home standard full of chinese drywall.
I like that analogy.
Your options degenerate tip of the day:
You probably already knew this, but VXX is very sensitive to VIX futures term structure. As VIX futures are in perpetual contango, VXX is going to significantly underperform it’s underlying over time.
In other words, the VXX is walking death aka UNG
You beat me to it, on the VXX lecture. Fly, you are better off just owning options if you want to bet on higher vol. If you think leveraged ETFs are lame, you should also hate this one…
I am not buying yet. I am waiting for inflection point. If I buy, my timing needs to be precise. The TLT trade is me just being a pussy. VXX is a mans trade, that requires the help of my space rocket.
If you get the timing right, you can make money with VXX. I caught a good trade in it recently. Just like the leveraged ETFs, you have to know what you’re doing and what you’re dealing with.
I would be interested to know what type of trade the options experts like instead of VXX. I’m sure there’s a better way,
Forget that, just buy LEAPS puts on everything here
http://www.direxionshares.com/etfs
Especially FAS and DRN
Then sell short term options against it upon spike of the premiums, or just ignore the VIX and just continue to sell short term options against your LEAPS.
Fly,
Yesterday you mentioned BRCD as being oversold. I’ve started a position as it appears to have been wrongly hammered. Any further thoughts on BRCD as a mid-term (6-8 months) double?
BRCD needs to impress for the next two quarters before being taken out of the penalty box. I will buy the stock, over the next 6 months, whenever I get bored. However, don’t expect any quick results, barring a takeover.
PSID on fire….
I believe that omlette you speak of has some bearded clam in it…
lol
Wearing your Ed Hardly custom anklet today Senor?
OVERSTOCK THIS!
http://ibankcoin.com/henry_fool/2010/02/23/ostk-catching-a-bid-earnings-imminent/
Uncle Ben is ripping the shorts faces off right now
That son of a …. if could could convey my angry face I would.
Fuck it… I bought some more usu. I’m going in fucking butt naked on this one and hanging the hangman.
Tmoe’s presence in the earlier thread gave it away. One comment and we’re close to hitting the lows. Two comments and the move up is imminent.
Wow J… My sentiments exactly. BTW, here’s an update. I was in Piketon, Ohio, on Sunday night through Monday morning. The place is a fucking ghost town. I learned several things that make me quite excited about what is going on over there though.
1) The population is made up of very poor Appalachian folk. Industry in the area has nearly all left. The only real jobs they have left are the Mead Paper plant in Chillicothe, service jobs like being a nurse or working at Walmart. The older generation still have jobs at the USEC centrifuge facility.
2) Politicians have been playing games with the project. This includes both local congress people and the Governor. They have been claiming the AREVA will get the contract and loan guarantee rather than USEC and other such bullshit.
3) There is a very small group of idiots who are trying to force the government to clean up the site. These idiots have no idea how fuct this country is without nuclear power going forward.
4) Small energy service companies are starting to pop up around town. These service companies are claiming they are moving in to assist in the “clean-up” of the site. As though the government is going to waste billions of dollars cleaning up nuclear shit from 70 years ago when they can re-use the facility with newer technology.
I added to my position at 4.36 and will add more over the rest of the week. This shit is about to explode to the upside.
There needs to be demand somewhere for prices on some of this junk to stay where they are. We’re headed down sooner or later.
Mr. Lynch….You can’t know what the markets will do in a period of six or twelve months.
On the other hand, you DO know that, over the past 40-50 years, company profits grew at good rates, and in my view they will continue that way in the coming years too. I estimate that corporate profits will double themselves every ten years. If you add to that the dividends that the companies distribute, you get an excellent return. You have to believe that, in general, companies in the US (and globally for that matter) will continue to grow. Naturally, along the way some of them will disappear and some new ones will join”.
Ultimately the LONG trade is the house playing with the SHORTS money as they play the nickel slots….
( from Drudge)
Can the Congress popularity go any lower? Nancy P and Mr. Personality in the senate have taken congressional approval to the lowest level ever recorded of 10%!!!
Personally I’m not fussed by such a low number. I want to fucking know who are the 10 %.
http://gatewaypundit.firstthings.com/wp-content/uploads/2010/02/congress-approval.jpg
The 10% are family members, and those getting lucrative contracts (handouts) from aforesaid congress people.
CENX having its nut sach[sic] fondled by leotard clad midgets.
Tried to ask Scott this morning in his U-Stream show why he was holding CENX when it reported subpar EPS numbers. I would have sold it at the open if owned it at 11.50 and just moved on. Why wait for for a $10 stop to get hit ? The 5 day 15 minute chart showed a bear flag yesterday from 1 PM on, and it’s forming another one as I type.
Anyways, it takes different mindsets to make a market.
just as a side note, my Webster’s dictionary has ‘leotard’ spelled ‘leoatard’ with the -a- inserted……weird.
this means that either my Webster’s dictionary has a misprint (which means all of them printed in this run are the same) or I have been spelling the word wrong all this time, but my spell check says it is misspelled at ‘leoatard’ and changes it to ‘leotard’
does this mean that perhaps somewhere we have been misspelling ‘retard’ and it is really spelled ‘reatard’?
dunno.
carry on.
Don’t mind a down market as long as it’s a one-way market like in 2008. What makes me feel like I’m taking uppercuts to the scrotum is the back and forth action like we had as the market bottomed in late ’02 early ’03.
fid
If Docteur Monsieur Le Fly gets any more bearshittery, he’s going to need pinking shears to get the clumps of pine needles out of his hairy buttocks.
__
Thinking about putting a fish tank in my office…Isn’t that sweet or what? Predators tank off course, no gay Nemo’s.
http://www.youtube.com/user/Mercury2234#p/f/6/2jDD4NIS0TY
Bet you could buy that Orca from Sea World right about now. Cheap too….. ,,,,just sayin…….
Bobby…you are spot on….and here in lies the conundrum…
Ron Paul is a riot! Yeah, let’s use the Fed to help Greece!
Keen to see him completely wig out in A Few Good Men style…YOU CANT HANDLE THE FUCKING TRUTH!!!” and then burst into tears, climbing under the table to suck his thumb.
OBAMAs ECONOMIC RECOVERY PLAN
It’s a slow day in a little East Texas town. The sun is beating down, and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit….
On this particular day a rich tourist from New York City drove through town. He stops at the hotel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night.
As soon as the man walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher.
The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.
The pig farmer takes the $100 and heads off to pay his bill at the supplier of feed and fuel.
The guy at the Farmer’s Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit.
The hooker rushes to the hotel and pays off her room bill with the hotel owner.
The hotel proprietor then places the $100 back on the counter so the rich traveler will not suspect anything.
At that moment the traveler comes down the stairs, picks up the $100 bill, states that the rooms are not to his satisfaction, pockets the money, and leaves town.
No one produced anything. No one earned anything. However, the whole town is now out of debt and now looks to the future with a lot more optimism.
Yes a shell game. Thats what the entire recovery and financial system is, one big shell game
Which is EXACTLY why we should not worry about Federal debt;
or the government printing money.
If the debtors move fast (everybody pay debts off ASAP= high money velocity,
any so-called “problems” are solved quickly, and the out-of-debt folks
can start buying stuff again.
The Tea Baggers don’t understand these simple concepts.
Wow, and we thought we should be worried, thanks BS
The ‘rich NY tourist’ would use a credit card. And not be in Texas in the first place. The tea party people understand that better than anyone. Teabagger is a homo practice, intended to insult people.
Only those dumb enough to be in the Tea Party movement.
I thought this website had an auto blockage on stupid midgets, dumb actresses and dipshitty tea-partiers, no?
Comeon– those people don’t all pay their debts…. someone in the chain there goes to Vegas, loses the money and then goes banko. Then about half the people on down have to go banko as well.
long VXX
anybody buying CENX?
Not buying anything until the % of S&P stocks above their 10-dma gets below 20%. Works as well or better than the PPT Hybrid Score for signaling short-term bottoms. Even then will likely not initiate new longs as it feels like the path of least resistance is changing from up to down. High probability that over the next few weeks I will be hitting bids on my current longs and taking positions in inverse etf’s.
fid
looks like “MrVikes” will win his bracket in the March Madness contest……up 66% now
PSID
Resets every week.
__
WE’RE GOING HIGHER.
HORATIO CLAWHAMMER IS BACK!!!!!!!!
SPG, for a possible short idea.
Selling NKE, because of that post.
Is there no better way then VXX?
AP – Companies that hire the unemployed would claim new tax breaks under a jobs-promoting bill the Senate passed Wednesday
Anyone need a tax break?
The Federal Budget from this point forward will be known as the “Fudge’et”
and I yield back the remainder of my sanity to the gentleman from Zorbainia.
Market still in correction according to IBD – go long no stocks until the uptrend resumes. How many shares TLT does fly own? 30,000 +? TLT is about to pay 30 cent+ divvy and could go up a couple of points to 92ish.
test…
This market is heading higher on a weaker dollar. Just like Fly said. Sold all my short positions, and took my losses.
Is FTK run by goats?
FTK is run by SHEEPle to be more precise…
This just in: Obama’s Federal Bureau of Burlap Boneheads raids Toyota Dealerships and finds millions of boxes of used condoms.
What a bunch of lesbian goat munchers