You chart chomping jackasses don’t stand a chance in this whipsaw market. You might as well give all of your money away to the homeless or kids with cancer now, before you lose that shit to some Goldman Sachs robot. It’s amazing to me that so many of you believe in technical analysis, as if it was some sort of religion. Do you know Santa Claus isn’t real? Are you aware to the fact that technical analysis was developed by people who had no market edge? It was developed by misfits, who were getting mugged by the markets daily, that tried to come up with some magic fairy dust, via charting stocks and indices by hand— every night for review.
The sad thing is, the very people who invented these indicators discarded them for the shit-heap, long ago. Yet, here you are EMBARRASSING yourselves daily, getting flattened out by rampaging gorillas.
On the other hand, I do believe in quantitative analysis, which contrary to what you may believe, is ENTIRELY different than drawing lines on charts or fucking around with idiot candlesticks—all subject to human error by faulty interpretation.
What needs to happen now is a full-fledged rout of the markets, in order to zero out some of the weaker players. All of you piker hedge fund managers, who made a nice bag of brick last year, are two trades away from being on the receiving end of mass redemptions. I will be more than happy to pick up your loss, AND MORE.
See folks, you can’t believe the charts. And, you can’t believe the fundamentals. The nice little earnings estimates that you have mapped out for BAC are worth less than an empty bottle of St. Ides.
I will tell you. Asset allocation models, risk analysis, proper research and game plan, catalyst driven events, on the ground research and the God given gift to make accurate financial decisions. People ask me: “Fly, how are you able to make so many accurate calls, all the time, over such a long period of time?” My answer, as always: “do you ask a bird why it is able to fly, or why hungry mountain lions, trapped inside gay bars, tend to lack proper bar etiquette?”
No, of course you don’t. There are no short cuts, ladies. This game was designed for the very best to succeed, not some dork trading 5 figs out of Mom’s basement. Now go back to watching the military channel and make believe you are some valiant war hero, instead of the pencil pushing dipshit that you are in real life.
100 Responses to Burn Them All!
people like you are why people like me are rich
You must retain the services of people like me. But, sad for you, it is not me.
MAKE ME A HOT POCKET !!!
Best comment of the month.
although i will be carrying a pencil into battle soon i will have you know i will be sharpening it with a flame thrower
Speaking of burn them all and flamethrowers………….it seemed to me that this may possibly fit here.
“the mere fact that flamethrowers exist means that someone, somewhere thought to himself……I want to set those folks over there on fire, but they are too far away”. Roughly attributable to George Carlin.
i think you’re right about technical analysis. i quit TA a few months ago. It’s nice to reach the point where you realize that you’re just not good at something, and to stop doing it.
One thing that kept me going at it for such a long time was the success of the .01% who really are talented.
“…or why hungry mountain lions, trapped inside gay bars, tend to lack proper bar etiquette?”
LOL. Only you could come up with weird imagery like this.
It’s funny because, all of your readers are pen-pushing, dip-shit 24 year olds. right?
Nondescript Analyst | Fortune 1000 company
PFFF. Fortune 10,000.
Velcro to vampires, quantitative analysis is also full of complete morons who use poor sets of data and misinterpret statistical information.
That said, I agree with everything you wrote. Unfortunately it was a long road to get here.
Quant is better,but not perfect.
Folks; technical analysis it is just another analytical tool and shouldn’t be used in singularity.
But it doesn’t stand still as it must be adapted to the changing market conditions…Learning what matters now is the secret to using it successfully…
It’s also a great tool to articulate entry, stop and exit targets.
Why the fuck do you use tinyurl?
why do u have a tiny cock?
Here we go again…lol
aaaaaaggghhhhhhh, haaaaaaaahahahahahahahahaaaaaaaaaaaaa. your analysis of technical analysis is technically unsound as it (TA) is quite applicable to current market conditions. QUITE. it does need to be be coupled with some discretionary analysis, that cannot be taught. and therein lies the problem with internet leeches, et al.
I enjoy sitting at my computer short 1000 shares of some over-owned and overvalued 200 dollar stock watching it tank 10 bucks in a day.
It’s us little fucktwits that can bob and weave on a dime that can extract a few thousand here and there from the quant-bots on a daily basis.
Don’t believe the hype and remember the human brain is only working at 6% capacity and those trade-bots are programmed by fucktwitted 6% efficient humans.
Also remember that if those Israel Commandos reacted like they did the other day it’s just a matter of time until we all wake up to a 4500 point gapdown because Israel acted pre-emptively.
Fuck Mahoud if he can’t take a joke~!
Another 50 dolar cognac please kind sir
Nap is killing it in the RC 2010 Stock of the Year contest.
yup, Nap is my student since 2008. we all played DCTH.
TECHNICAL ANALYSIS had just teeny bit to do with it, I’m sure
i’m genuinely curious; does TA theory extend beyond securities? Have there been any TA studies in natural statistics or sociological trends?
charts and graphs are used to determine trends in econ, sociology, psych, and stat because TA maps out human behavior. Even moving averages are used – u can go to the bureau of labor statistics. Beyond charts, graphs, MA’s, I’m not aware of other applications.
Digital music downloads. For real.
TA goes back several thousand years to rice trading in China, where candlestick charting began. If you study chaos theory you might know that when all activity is mapped, it eventually ends in a Mandlebrot formation. Then, all formations begin again with a new spark of life, which yields a tree of activity, of infinite proportion.
That’s the ultimate TA. Time is a fractal that has already been mapped. This is why Fibonnacis work so well. To ignore the fractal of your own Universe is foolish, IMO.
Agreud. Fibonaccis are the most consistent.
Take a look at the 61.8% retrace of the move down to the March 09 lows. We hit it almost to the the number. Of course, everyone faded it early, so we didn’t get there. More math (asymptotic curves).
One of the original zen masters of TA used it to trade rice in Japan hundreds of years ago. He was the Goldman Sachs prop desk of rice.
Munehisa Homma, rice futures
inventor of candlestick charting
There you go. In honor of him, I am drinking some Japanese scotch now, The Yamazaki.
I puked in my mouth a little when you said “Japanese Scotch.”
Q:I puked in my mouth a little when you said “Japanese Scotch.”
(a little ‘shart’ action here too)
much too funny Sir
Yeew. I guess it’s something to try.
Right after the Yugoslavian bourbon.
Great analogy there, Jake. Because we all know when it comes to making stuff originally invented elsewhere, Yugoslavia was right up there with Japan.
Celtics in six
Lakers in 7 !
C’s in six … Happy Fiftieth!
Dogs vs Cats …
IBM vs Apple …
Repubs vs Dems …
Baldwin vs Bassinger …
Chartists vs Funnymentalists …
These battles have been waged since the beginning of … well … let’s just say …a really long time …
AND … I would venture to guess that they will continue to be waged for … well … let’s just say … a REALLY long time !!!
The jokes about “chart readers” … have indeed grown tiresome !!! imo
We’re ALL technicians (ie. chartists) on some level, Fly !
Yes …EVEN YOU !!!
Charts are as much a part of stock market analysis as an MLB Pitcher’s ERA is in evaluating his value in a starting rotation !
When YOU post a chart … of the PPT with O/B & O/S readings … you are displaying your Market BIAS … graphically !!!
That makes you …at least … on some level … a “chart monkey” like alot of us !
Welcome to the club … “chart monkey” !!! LOL
I’ll bet if you take apart and reverse engineer the PPT system, the numbers it generates are based on one or more of the three classic technical indicators — volume, price, and sentiment (puts/calls ratio).
The Fly is expert at leading the masses by implementing chaos. Say one thing, do another.
Anyhow, this explains why the PPT works so well. It reminds me of a numbers-based technical system I built a few years ago. As we all ultimately learn, TA is half the battle. The other half is money management, which is what Fly excels at.
… well said …
“its a great tool for entry, exit targets?”, dude, is it tour heat seaking moisture missile you are talking about?
Cause its not the way fly goes, and from what i read here, he is doing better than fortune 500 companies reading the market.
Charting would be similar to tracking Lotto numbers. You may notice some trends, ID some patterns, but you CANNOT predict the future.
THAT is just … fuckin’ …well … misguided ! (with all due respect)
My horoscope indicated that there may be some confrontation today..
To attribute any purported success in this market to fundamental analysis is disingenuous at best.
So what the hell is the PPT based on?
Love The Fly, But The Master is getting too cocky now.
Another non-technical indicator, fwiw.
No worries, the suitcases are always half packed for Romania.
At the risk of sounding gay–
I love you man
Btw I am trading 5 figures from my moms basement and a pencil pusher during the day.
What Does Quantitative Analysis Mean?
A business or financial analysis technique that seeks to understand behavior by using complex mathematical and statistical modeling, measurement and research. By assigning a numerical value to variables, quantitative analysts try to replicate reality mathematically.
Quantitative analysis can be done for a number of reasons such as measurement, performance evaluation or valuation of a financial instrument. It can also be used to predict real world events such as changes in a share price.
Sorry Fly for not wishing you a happy birthday. I was out of town swamped with meetings. I wished RC a happy B-Day and not you. Sincere apology my friend….
Weather.com assessment of hurricane-oil interactions.
That’s gonna be some giant ass balsamic vinaigrette.
Let me get this on the record….
TA is like looking in the rear view mirror as you’re driving forward.
T&A is all about looking at rears and fronts.
Kimberly Guilfoyle is a good looking fox on FOX.
It really is that simple.
TA is like looking in the rear view mirror as you’re driving forward.
Just a thought …
While that MAY be …theoretically true …
…when I look in MY rear view mirror … I ALSO SEE THE PASSENGERS IN THE BACK SEAT !!!
And … well … they’re … IN THE CAR WITH ME !!!
Think about it !!!
Alf, its like you were reading my mind.
…weird … wild … wacky stuff !!!
News for yaz….
Daniel Estulin presented to the European Parliament today about Bilderberg’s plans — http://www.wnd.com/index.php?fa=PAGE.view&pageId=161377 , He was invited by senior members of parliament. That’s when you know the shit is getting serious over there.
Estulin reports the following items will be on the Bilderberg Group’s 2010 agenda (June 3-6 in Sitges, Spain):
Will the Euro survive?
Development in Europe: Europe’s exit strategy … on hold?
Do we have institutions to deal with the world economy?
Greece: Lessons and forward-looking strategies
NATO and Afghanistan: The practical agenda for the alliance
Iran and Russia: Economic and financial threats to the alliance
The consequences of war against terrorism
The influence of domestic issues on American foreign policy
The outlook for Japan’s economy
The future of the U.S. dollar: Alternative scenarios
LOL. You are a fun teacher….I know the catalyst for this article….this site is way too much fun.
I have never seen a chart i did no hate. Those words will be etched on my tombstone
Big Dan T lesson:
I don’t get how the fuck you trade short term without TA. I mean post earnings drift works, and anomolies like that but how the fuck you trade as quick as you do on fundamentals.
quantative analysis- okay, so what do you do compare P/Es among similar stocks in the industry? Or PEG? or something else?
Asset allocation models, okay great, rebalance portfolio to take advantage of people who get too trigger happy… I get that, but I prefer not to do it on daily to weekly gains
risk analysis- more specific?
proper research and game plan- such as… ? examples?
catalyst driven events – I get this. Works great on low float stocks.
I’m not equiped for this shit, but I still fucking try… why the fuck would I? because I’m a fucking addict. Somethig got in my head that I’m “investing” and making smart decisions for my financial future… but really it’s no different than playing casino…
And at least at the casino I know when the odds are in my favor.
Time to fuck it up and load up on ERX just for long enough until I can’t take the pain and sell, marking the bottom.
Why sleep when the natural is on?
LOL. I just turned it on when he says, “Tomorrow, I wouldn’t bet against me.”
The Fly was on earlier, amidst the crying Japan PM.
Ah Shanghai Metal Futures are ugly too tonight…of course Jap PM is leaving too. Eur/USD is holding so far over a key fibo level….buzz by Sean at Live is that there is a DNT just below that at 1.2100 that will be defended of course. Interesting thing about Shanghai Comp sell off is that of course it’s banks…but Car Makers are actually not hurting so bad cuz of subs for green cars tonight…amuses me. This is going to be an interesting NFP week.
And Shanghai Comp rallys up into the close to almost flat, yet Copper Futures remained weak. buzz on bloomberg about hints of rate hike fwiw…I’ll go look for it for real…………..
lol, it actually went green…I posted the rate gossip at Twitter
Hungry Cougars have proper bar etiquette.
Broadband OPEC. You heard it here first.
From iBC Newsbot:
btw- bare minimum personal daytime Internet use for me is about 10 MB a day. This is just checking financial sites every hour or so. When I was metering a wireless card it was no problem hitting 3 GB in two weeks.
I think a ramp up of “bandwidth” cost may impact content providers and be a twist on the road to the future.
It may be discovered that demand is not elastic and supply is limited.
Hahahahaha Ohhhh… You are so witty. You should really marry my neighbor’s daughter..
Besides,, don’t you know,, Jesus likes TA.
Seeing some of your posts and comments at wee hours of the night, I can’t help but wonder…do you sleep? At all?
Sleep is for wimps
Spoken like a true Stock Junkie……Fly, I was pondering what I was missing in seeing your analysis of PPT scores into stock movement…I think I might have grasped it, I know, I am rather slow, but I am going to post my questions in my PPT forum….if you could stop by later.
The fly is 4 guys. Everybody knows this.
Dirk….Don’t care, I just need the junkie in the group…
Fly, the iBC search, at least on my end is not working, it just goes to a new iBC home page that is blank….
Rally wont hold
Still don’t think the rally will hold today? I went long FAS at 22.66 today.
Either the dow is going up 350 points from here, dollar/yen has to drop back to 91.4 or the YEN correlation theory is done… and its back to the Euro…
either the stock market will go up or down, or trade sideways.
I’d be the 21 year old pencil pusher also…but hey 5 figures is a place to start for me! I do alright for myself, I just like learning from you guys.
I’ll be PPT once I put myself in a better position here soon; I love the brazen way things are put across here–keeps it interesting.
I’ve studied a bit of TA; but for my personal goals I like having all of the pieces of the puzzle together before trying to assemble it. I don’t believe in one strategy, limited knowledge foundations.
Up 8% intraday yesterday, shooting for similar today.
Rally won’t hold, eh? Look at the charts. We have had an abc (wave 4) correction of
the second upwave (wave 3) of this bull market. We are ready to begin wave 5 of 5 up.
Then after THAT we have a bear market (of sorts)
Post a chart …. I don’t see the bull being that short and see us in Primary Wave2 (dwn) nearly complete now with Primary Wave3 (up) about to begin shortly (days or weeks) …. Wave3 up is the best wave of the bull and if you’re implying that 1045 thru 1220 was Primary Wave3 I think you’re wrong.
Wave 3 is not always the strongest wave, especially when a strong Wave 1
rally develops from a GENERATIONAL oversold bottom.
Buffett has grown increasingly full of shit.
Yeah, scenarios like this really show that his wholesome image is a bit contrived.
He’s lost all credibility. I stopped taking him at all seriously last yr? when he was consorting/working w our govt “for the good of the nation”
He sold his soul. Just another asshole cashing in at the country’s expense
I have a chart of charting vs quantitative analysis. The lines on it say you might be wrong. I was going to show you, but I burnt it.
Busy in meetings
Much thanks for the sight of the fortune cookie…even if it isn’t directed towards certain companies whose demise my armies will appreciate.
Jake Q:I puked in my mouth a little when you said “Japanese Scotch.”
(much too funny #56)
Inspirational speaker? Dude sounds like Dukakis to me.
Read the tape. Period. Price action and sentiment boys and girls. TA is ancillary and not primary. TA is primary for folks who buy into the idea of “buy and hold”. Yeah that seems to be working just swell.