Just two hours ago, many of you rookie, ham and eggers, were imploring yours truly to cast away my [[VXX]] position. You declared, in emphatic tones: “I am selling short the VIX at once. We shall endeavor higher from here, mainly because my cock is small and my head is monstrous.”
Lo and behold, fast forward a few hours and you are sucking your own cock. Which reminds me, enemies of iBankCoin shall fear the sharper end of my pen, for I have you in my sights. More on this later.
To sum up today’s confusing trading session: we are fucked something awful I sense panic. As a result, I sold out of a shit load of holdings, including Cameron International Corporation [[CAM]] (I added to this earlier today), raising my cash position to 40%. Also, I added to my Goldman Sachs Group, Inc. [[GS]] position, bringing my total to 6,000 shares, with an average cost in the high $153’s. Like I said, I will buy up to 10,000 shares. So, in the big scheme of things, I have a lot of buying to do, hopefully lower. Some of you peons will never understand that, which is why you do not manage money for a living. And, I added to my POSCO (ADR) [[PKX]] position, in the event the market rips higher. As of now, that trade looks like a loser.
Nevertheless, I am well positioned to weather the Greek backdoor action, with 40% cash and 15% in [[VXX]] . God willing, I will be using said cash to buy your margin liquidations, inside of a month or so.
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Yeah, that was a headfake if there ever was one…
Fly,
Thoughts on FTK heading into earnings?
I have a feeling he’s going to hold through earnings, like he has for the past 49 quarters.
correct
Who makes Vaseline?
UN makes it.
the diablo
This 15 year old warned you and I am happy that you listened!!!. I like you have VXX and BGZ and I am long AGM (which I am about to sell). I have north of 60% cash right now.
I would rather have my eyes seared out than ever listen to you.
60% cash, what is that like $20? What do you have the rest of it in? AGM? What does AGM have like 15 beta?
60% is enough to keep Mrs JROD happy and not worry about managing somebody elses money. By the way AGM was a 4 dollar stock not long ago now is 24. You do the math!!. How is your FTK doing?. This site is a great resource for me, it helps me see the nonsense and tunnel vision of some so called MM. In other words it is a great contrarian indicator.
no time for monkeys. You’re banned.
ROFL.
Let’s get J to build a site meter with a count of all who are banned.
~300 total in 3 years with 300k/m views is pretty low on a % basis, a victory for civilized discussion
You mean like suck your own cock?
banning someone for publicly sucking their own dick is overkill, no? I mean, lets weigh the relative shame in each, and you’ll see it was really more of a pariah/excommunication type situation for CAP than a “wow, get that shit out of here” moment.
AWESOME idea RC!!!
I’m confused. Headfake in which direction? There was more than 1 headfake today.
I agree! Buy GS common, it’s a great deal!
There is an outside chance that GS will not be able to make a criminal investigation go away. As soon as Goldman employees heard about an investigation, they no doubt lawyered-up …looking to take care of number one. Consider, for example, how many individuals at GS and AIG must have worked together to avoid insurance regulators and sell default insurance that they knew AIG could not back? What are the email trails? What are lawyers advising these guys to do?
Bottom line, even though the gov’t desperately wants the Goldman investigation to go away, politicians may end up assessing that a cover-up and quiet back room deal will be more politically risky then letting the shit hit the fan.
Looks like folks holding some widely-held names suffered some egregious stock exchange losses today. Looking forward to your next meeting with Mr. Devil Dog to hear his views on what the future holds.
We are far too close to NFP monthly numbers—for the market to follow normal panic breakdown rules. Shorts have far more to fear, than do longs ,into this number release on friday
Bad number could cause the euro to explode higher
Good number would cause retail and materials to stabilize
Well like duh……..OMG!, lol
PM – This is getting pretty lame. Quit predicting the future. There’s only one “Time Machine” around here. Please add some value. Give us some REAL insight or STFU. ( I really hate saying that.) Go post your trades in the PPT. Thank you for listening. That is all.
Ive been over 80% accurate for scalps and swings,on stocktwits since August. My insight is pretty accurate.
However, you are correct on the PPT issue. I will join , and move predictions there. I honestly didn’t know it had that feature.
Ill try to keep this area a snark only zone.
This post just reminded me of the guy who used to post here a lot but ended up having to suck his own cock and was never able to live it down. High comedy. Who was that again? He should come back and be ridiculed again for our enjoyment.
CAP sucked his own cock, live here on these internets.
CAP the Cocksucker
IIIRC the market began to rally almost immediately after he made that little wager.
Don’t ever say the bots don’t have a sense of humor.
Yes, CAP! Good times.
Happy “Sinko de Euro” day: http://images.cheezburger.com/completestore/2010/5/3/129174163158469089.gif
This market has been shit for over 2 weeks and not worth being in unless you are a daytrader.
Don’t be a hero, just stay away and let the market setup again – there’s plenty of time to get in on a new uptrend.
I’m 65% long in the trading account and not enjoying it.
That said we’ll probably get a short covering rally tomorrow.
TA
I reduced my cash position on the 23rd and went to 100% on the 27th and am enjoying it for now. But unlike you, I’m a little afraid we’ll bounce tomorrow.
TA
I reduced my cash position on the 23rd and went to 100% on the 27th and am enjoying it for now. But unlike you, I’m a little afraid we’ll bounce tomorrow. HA!
TA – We got the bounce today. Did you miss it?
I like ham n eggs…..although salami is nice 2 with dem eggs…..mkts head lower till monday bitches….1143 S&P
Sir Salty Snap Kick
1st place…the secret is to never have any Mets on your team.
How are your leg curls coming along?
V.King to the max
How do you feel about Tazing fans who run on the field? Heard they let that little kid in Philly have it….went down like a sack of potatoes
Don’t know about leg curls….but I want to do it all the time…is that good?
We bounce tomorrow, which is where I initiate a short position in shitty companies. For instance CLF.
Sir Salty Snap Kick,
I see many benefits to Tazing fans….
Doing heavy leg curls are like windows to your soul, please work on that.
As for it, yes.
Do you own C.Z??? IGK, BML.H,and GLD????…If not why? If yes ….well then own big……
V.King Bringing it
Action in long bond, euro, and vix make me think the nasty part of this sell-off may be over.
Probably sideways for a few weeks while the Europeans get their act together, 1150-1190. Wake me up in June.
cheesenwine gets my vote..nice prose fly
He gets my Vote too……….Oh Oh Japan coming back from Golden Week tonight….should be really interesting how they move.
Chessnwine gets my vote as well. The only civilized alternative. An intelligent stock picker as well as an apolitical gentleman.
mine too.
I’m for Cain.
“Rosebud.”
_____
Does anyone know what happenes to FAS today? Did it tank that much or something else?
Split
Financial stocks must’ve been down 22% obviously.
Im taking a bath and singing to my favorite song…. O vxx, o vxx, o how i love your move up… O vxx, o vxx, i will never forget today, move up .. And so on, you get my drift:)
Nikkei down 330 points…welcome to the funnel ,How were the holidays?
Actually, Shanghai is posting really really good retail sales, http://www.shanghaidaily.com/sp/article/2010/201005/20100506/article_436129.htm and their April Housing is up even w/banks taking away money…so this actually may hold Shanghai or even give it a relief rally even w/Japan selling…and heck it may even stop Nikkie’s free fall when it opens…and in turn give us a positive open…ECB and BoE meeting is normally good for us…
Yet…Aussie Sales not that wild about at all….Oz is getting weak…..BTW CLF, I wonder if that run up today was based on James Altucher saying he liked it in WSJ? He mentioned GILD and that was up too…fwiw
I got a newsletter that was getting negative on the Chinese mkt, but where I view the added regulations as a long term positive,they didn’t see it that way…” Because of China’s robust economic growth, Beijing has taken steps to keep inflation at bay. The main concern is the red-hot real estate market. Chinese property values have soared so much that investors fear a vicious bubble is forming. As a result, the government has raised down payment requirements for first-time home buyers as well as real estate investors.
Chinese equities and U.S.-listed ADRs and ETFs reacted poorly to that news. As if stricter loan requirements weren’t bad enough, the People’s Bank of China is actually forcing banks to loan less money this year. Regulators also raised capital reserve requirements for Chinese banks just last weekend”…
Just ECB, the elections moved BoE until Monday…my bad.
This is the final punch to the gut we’ve all been waiting for.
Blood on the streets.
God only knows how bad this one will get.
(Glad I didn’t “Go Euro” back in the 90’s)
It’s been a long time coming, no doubt.
This is gold from a report on Greece today:
A police spokesman said eight fires in Athens office buildings and bank buildings had been brought under control.
Later Wednesday, black smoke billowed from fires on one of Athens’s main shopping streets. Glass shards and smoldering garbage littered the sidewalks.
________________
Fly:
ck this out, you might be able to front run yourself
http://www.ritholtz.com/blog/2010/05/alacra-hedgies-monitoring-blog-posts/