Okay, we took some pretty significant market hits this week; but it may be just the beginning. While it’s true, the markets are deeply oversold here, if the underlying economic factors materialize the way I think they will, we have thousands of points left on the downside. Nonetheless, in the short term, I am positioning for a bounce, by selling the balance of my [[VXX]] position at the open, including the entirety of my personal accounts.
From a pure mechanical standpoint, the market is in dangers of falling victim to forced liquidation type sell off, thanks to the fact that so many hedge funds got caught leaning long. Prior to this dip, every jackass with a series 65 was long commodity stocks, in size. Well, for the most part, commodity related stocks are down anywhere between 10-40%, over the past 2 weeks. This means, without a doubt, margin liquidations and hedge fund failures are to be expected.
If so, and you can count on it, stocks like Freeport-McMoRan Copper & Gold Inc. [[FCX]] , United States Steel Corporation [[X]] and Bucyrus International, Inc. [[BUCY]] , just to name a few, may drop to levels you didn’t think was possible.
So, before going John Rambo, bow and arrow crazy, into this market, consider the fact that men with tiny brains and big assets are about to get flushed the fuck out, effectively rendering your bullshit charts meaningless.
On the flip side, if all of that shit doesn’t materialize, we’re due for a nice bounce. I will be a net seller into said bounce.
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Very well played. HT to you and the PPT crew.
“may drop to levels you didn’t think was possible.” should read “will be on blue light special for a limited time only”
you mean “blue blazer special”
This is getting very ugly very very quickly. I wonder if there isn’t some as yet unannounced shit about to go down. Like Germany leaving the Euro. Or Greece just saying fuck it.
We’ll see.
GOOD MORNING, but I digress.
Do we get to win this time, sir?
I will be interested to see your exit strategy on FTK… You can’t sell all of your shares at once obviously because it’s so thin, and if you announce you are selling some on your blog, price may tank because so many people followed you in. My guess is we’ll see a note at the bottom of one of your posts saying you are entirely out of it and have been selling for the previous 2 weeks.
Nice win this morning shorting VXX at the open…
Mr. Le Fly you are indeud the Blog Father!
All this Euro cock shit is becoming old…don’t
those idiots know we have a good V thing going on over here.
At the end of the day…
Fat Fucks are going to drive thru MacDonalds today.
Fly is going to spend $43 for lunch and $335 for 3 sacks of Whole Foods.
Goldman will not lose any money trading today.
I just bought SLW…GE….V….CEL….
GLW….MON……looking good! Have a good weekend
When I first come to this website i thought “Who da f is the fly?!” Now I understand why you are that good..Cheers & good day!
Fly, why do you ALWAYS hedge with a CYA “on the other hand”? Not becoming of somebody with big balls. You never see ME hedging – like when I shorted gold at $1248.
He hedges? He sure did hedge, you moron, with a slab of vix which he told everyone about while he was building the position.
Who gives a shit what you shorted? Seriously.
i call bs on this global growth story being over — and dr. copper agrees with me. take a look at what the doc is saying..
you are god
So Fly your not quite ready to change your headline and
say you’ve seen the future and it has lower stock prices in it?
FLY…… I am a believer. FLY is GOD
Thx 4 mkt thoughts … very possible scenario … always good to know wtf can go wrong
Your so right….one problem I have is that I keep thinking those Big Asset “PROS” have big minds to match…but omg listening to them on CNBC from hedge fund party in Vegas I was going no, no, no….why and the heck should they be given money