The jobs numbers were horrific, even more so than reported. Slap in the birth/death model and you have a loss of more than 200k for the month. The only jobs available, oddly enough, are from Government. So, it’s settled, we are heading towards a double dip recession. Trade accordingly.
Expect a sharp drop at the open and a sharp drop at the close. Please do not make a jackass out of yourself, intra-day, with inane moves. So you know, while you lose money at the open, “The Fly” will be playing tennis and laughing at many of you, on the inside. I try to reserve my emotions in public, so you know.
I will make some coin in my 50,000 share FAZ position and boatloads in VXX. Let’s not forget, I am short MET too. I do have a fair amount of longs. But, the damage should be limited, thanks to my hedges.
See folks, my positioning has never been about making money on the downside. “The Fly” is all about preserving his 30% YTD gains, while putting himself in an uncanny position to purchase your margin liquidations. It appears, I will be afforded such an opportunity in short order.
The euro is cracking and Hungary is warning of default. Prepare to dive, motherfucker. Prepare to dive.
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V.King came first….
Thats what she said
Zing!
TIDCALPAPMG!
how low we going ?
lets let Luda decide
http://www.youtube.com/watch?v=FaZvHMkdQew
lets let Luda decide http://bit.ly/bskaKv
FAZmobile, Michael VXX, etc. etc.
Well done, Mr. Fly. Well done.
Wow. So bearish everywhere. But this time it may be warranted.
When the government is the only entity propping up EVERY aspect of the economy, we are in big trouble. The market may do freaky things today but slightly longer term, sh*t looks bad.
Hey Fly,
More important, how is it the first time in U.S. history the President and Vice President multiply times on the same day leak the job data as “blockbuster” only to be dead wrong….Do you think the Obama and Biden sold there longs on Wednesday and started heavy short positions yesterday?
V.King all day every day
>>Do you think the Obama and Biden sold there longs on Wednesday and started heavy short positions yesterday?<<
The only politician who knows how to make money that way is Hillary, and seeing as she wants their jobs, I doubt she's willing to teach them anything.
Sadly the unemployment rate is down because labor force participation dropped 0.2%!
http://www.fundmymutualfund.com/2010/06/430000-jobs-of-which-411000-were-census.html
Unless you assume babies and deathbedders are in the “labor force”, you cant bring the full birth/death model number into the nominal job loss/gain numbers.
Go spin somewhere else fishcrotch….This community organizer is a first class fuck up…..
Speaking intelligently about economics at iBC…my apologies V.King. I should open wide for Fly’s “Heads I win tails you lose” long/short technicals-vieled-as-fundys bukkake.
My next post will reflect the new attitude.
“fundys bukkake”
the banks are going to need to be bailed out again.
Thanks for the early morning update Master Fly.
Time to sell out of VXX right here IMO. We should start to see more orderly end-of-times trading soon.
What me worry? Obama said that if the stimulus were to pass that the unemployment rate would stay under 8%. Off to get a census job and if that doesn’t work I will franchise Kramerica Industries. The plan is “make your own pizza” stores.
Why bother. Just collect unemployment for years on end.
They tell me you had to have a prior job and a layoff to collect. Not fair. I demand social justice. I was a ball boy, a PBS fund raiser, in a Rickshaw venture with Newman, a Bagel Technician, a Santa with Mickey, a Handsome Cab Driver in Central Park, and tried to sell bottles and cans with Newman in Michigan. Stan the Caddy said I was good enough for the Seniors Tour but I was hurt. Unfortunately, none lasted long enough or I did not get paid.
You forgot to mention your temporary stay at Brant LeLand that you obtained after using their bathroom.
Thanks for reminding me. I put their entire portfolio into Enron stock. But, hey they never paid me so what did they expect.
How about an alarm clock that tells you the weather?
I have that clock….How about an un-breakable windshield
I will tell my assistant Darin to do some research for Kramerica Industries as soon as he gets out of class at NYU.
I hear a submarine klaxon sounding! Dive, Dive!
It looks as though your fear mongering yesterday, which led me to scramble into extensive put hedges at the end of the day, is going to save me a decent amount of coin.
Saving coin is almost as good as banking coin….almost.
Awesome post Le Fly. As you know, the Power Dip has been keeping subscribers from ridiculous dip buying over the past several weeks. Most of the few dips have been bought have been closed profitable.
All forces of iBC are aligned and operating in sync.
Over and out.
The V.King Power Dip System….
A dip is a compound, push-type exercise which works a large number of muscles in your chest, shoulders, and arms at the same time.
The following table lists information about dips and the muscles that you use when performing dips.
Basic Exercise Data For Dips:
Resistance: Bodyweight
Mechanics Type: Compound
Force Type: Push
Primary Muscles Worked: Triceps
Chest
Shoulders
You are a DIPshit. Like this BB, which was wildly bullish Tuesday; crazy bearish Wednesday,
insanely bullish Thursday, and now nuttily bearish today.
Doing more flip-flops than a freshly caught flounder on the poop deck. A la Mr. Fly.
I guess you haven’t figured it out over the last few weeks, the Fly’s time horizon & PPT are short-term indicators. Consider: dumfukand whiner.
You are going to LOSE YOUR ASS going short-term. Check out how Fly, immediately after
one of his picks goes sour (like FTK) says “I will hold it till it recovers”.
Don’t give us this bullshit that this BB is made up of short-term traders. THEY GO BROKE.
Trade against the long and intermediate term trend, and you will be in the fuckin’ POORHOUSE.
Take the word of a 75-year-old notadumfuk on that.
No – You are going to LOSE YOUR ASS going short-term
“this BB is made up of short-term traders” learn to read – you said that, not me
up 30% is not loosing
Trade whatever time horizon you want – if you’re trading the long and intermediate term trend, you’re in the wrong place.
Stop blaming others, when you loose. The decisions were yours.
If you are up 30% following short-term indicators, I will kiss your ass in public.
MAYBE up 30% on one LUCKY trade. Wait till you have made 50 trades
based on short-term indicators. And start POSTING YOUR TRADES, Mr. Bullshitter.
Learn to tell the truth.
LOL, you haven’t been around here very long, have you? Let us all know how you’ve done the past 4 years, and we will compare it to The Fly’s track record.
Dude sir, I respect your age and opinion, but I think you’re missing the point. Since being under Dr. Fly’s public tutelage (when I found iBankCoin) my drawdowns are lower, my profits are much more consistent, my cash levels on average are higher, etc., etc. My average holding period is not minutes or days, but weeks and months. Currently 20% cash down from 50% last Friday as I put on some hedges and various interesting plays this week.
I think you should read more carefully sir.
Nicely done, Senor Woodshedder. I’m going to have to try out your expert system, one of these days.
I’m scared.
Figs
PIIGS is now PHIIGS
‘PHIGIS’ in Greek means ‘You go’. Down is understood.
PIIGs is now something like “UCMPHJPDCCGEPCVPCGIIGSUkJ” and so on
united states canada mexico panama hati jamaca peru, dominican republic, cuba, carribian islands, greenland El Salvador, purto rico columbia venuzuala portugul chili, guam, italy, ireland, greece, spain, uk and japan
but I’m missing a few…
So I made a song about the deflations and the countries that suffer from it.
http://www.youtube.com/watch?v=wGmdN_VsIuc
just let me know when to step in.
And/or to cash in VXX and FAZ…always tempting to pull the trigger at the first good rout.
Hey Fly. If you need a tennis ball boy for your match today let me know. I had experience at the US Open (sorry about that trip Monica Seles).
Mr. Kramer
You’re making me LOL….but one question…do you still hate black people??
Just Al Sharpton and Jessee Jackson but don’t we all? V. King- Get back to working out so you can look like me some day (Remember my Calvin Klein ads for the Beach?).
I’m caucasian, but Will Smith is my favorite actor, and my favorite atheletes are black. I’ve had black friends in high school before we went to different colleges and in college before I dropped out, my best friend’s asian. However, to me there’s a HUGE difference between just unique individual who happen to be of whatever race, culture, religion etc, and those who try to use their differences as a reason to complain, piss and moan,etc.
The people who constantly try to bring attention to their race and play the race card at every opportunity they get are annoying as hell… If you want to be treated equally, stop pointing out your skin color and drawing attention to your “injustices” and “inequalities”, and act like a human being. Even if they were true, you only inflate the problem by bringing awareness to them and pointing them out. I don’t hear asians complaining about how they’re oppressed by whiteman. Hell Native americans were basically eraticated by the whiteman. As horrible as it was, even they don’t have the audacity to run around like Al Sharpton and Jessie Jackson in this day and age trying to play the race card. Are you friggin serious?! lol wtf, grow the fuck up and stop looking at skin color and twisting the words of every whiteman to be somehow racist. It makes you hypocritical and racist yourself. It’s people like Al Sharpton and Jessie Jackson who think they are fighting racism, that in reality only give people who tend to overgeneralize a reason to be racist. I mean it’s 2010, in this day and age you’re going to say you don’t have the same ability to succeed because of your skin color? Come on! Opera is the richest woman alive, and Obama is the most powerful man right now. Michael Jackson shattered Beatles and Elvises records as a black man. Tiger Woods is the richest golfer. Whether or not these people succeeded in spite of their differences, because of them, or whether they had nothing to do with them, if you can’t succeed, trust me, it’s not because you’re black or whatever skin color you are, stop making excuses, be a man and do what you need to in order to succeed. If people stopped complaining and started succeeding instead, how could anyone ignore the fact that people of color are just as capable as people without? You want to defeat racism? Then stop giving people a reason to doubt your abilities and succeed rather than bitching and moaning.
/rant
Que dijo?
Mi amigos de Puerto Rico son latinos tambien. No problemo alli.
Obama should tell fuckers to get to work. We will not print our way, or intellectualize our way out of this. We have to work out way out of it. If you can’t get a job, do some volunteer work.
Agreud.
Romania is hiring volunteer goatfuckers.
DIVE! DIVE!
Alarms sounding…
DIVE! DIVE!
Alarms sounding…
“mister, make it a 60 degree down bubble”.
Aye captian
We shall settle comfortably between 8k and 9k within the next month.
Thats quite a call. I had been looking for more of a volatile-but-horizontal thing.
Fly?
Post you BEARISH positions, Dipshitz. Symbol, Date, size and price entered and / or exited.
Nothing like smoking out the bullshitters.
75 year old ending a plural word with a Z??
I call BS.
LOL, how about a young, ignorant INTERNET GANGSTER?
Yeah, that’s more like it.
You should be banned.
CEDC does the Vandalay for booze in Poland, Hungary, and Russia.
MTA is Hungary Telecomm.
What companies/countries operating in Euros have US-denominated liabilities?
The proper spelling is lose, jackass.
I have been in ftk for almost two years. Stfu for you don’t know what u speak
Nice! Would that be the old ‘buy and hold’ strategy?
Am I the only person having trouble signing on to the PPT today?
No trouble here.
Could get a 30’200sma kiss of death right here, right now. we just needed to refuel.
Gold under $1,000, Silver to $16 if double dip.
Well good thing I purchased much lower than those prices. Guess I will have to load up on the dips ‘-)
So in this day and age, people still are under the delusion that it makes sense to waste resources, time and energy digging a metal that has no real use out of the ground, just so other people can own it under the delusion that somehow holdin onto it has more value than holding onto a peice of paper that is used for trading because it’s scarce? dodo bird’s turds are rare, but I wouldn’t pay for that. You can use a gold brick to maybe throw at someone’s head so it’s about as useful as a rock. Any alien race watching this from another planet would be laughing their asses off at the gold bugs.
Silver is at least used for lots of things, but lol… Gold? someday people are going to put the gold in the same category with the “tulip mania of the 1600s” and “beanie baby mania” that just happened to last a lot longer, due to people hanging onto the past fact that it was once traded until they realized that gold coins could be debased and counterfeited just like money. Counterfeiting modern money isn’t done easily. Yes it’s debased but to say gold is a substitute for money is assinine and really not all that different. oil, silver, gas, and other precious metals that are used are fine. Gold…. HA!
V.King SELL DRR 6,000shares $14,250 PROFIT
tHANKS jAKE
FLY, loving the action on GMXR……what’s up with that. Pun intended.
Walter
Email jeremy or me if you cant login
The bankers doctrine:
Ask not how your country is going to screw you, but how you can screw over your country.
new strategy – buy my own margin liquidations!
or where it would of been 🙂
This looks and feels just like Japan with the 7 recessions since 1990. Prepare for structural high unemployment, shitty growth and a plunging stock market for the long-run. We should be at DOW 2000 in the next 20 years. Don’t believe it? Look at Japan. Now over 80% off the 1989 top for the Nikkei. In sum, cash out those 401k’s now while they’re still worth something. Real estate? Heading much, much lower as well.
Notadumfuk
I’vr been posting my trades here for 4 fucking years. I have nothing to prove to the likes of you. You are banned.
BANNED! LMAO!
Notadumfuk was talking about “Mr. President” and “Duh”, not you. Duh claimed to be UP 30% for
the year, but we have not seen HIM posting his trades!
They never learn, do they….
30’200sma kiss like a glove on Naz..
A double dip only assures that the Banking Cartels of the world will have to debase their currencies, so it only puts the ultimate price targets of precious metals that much higher. I would not be surprised to see GOld at 4-5k /oz by 2013-2015.
Basically, with an otc derivative market that is to infinity in notional value, you can not have counterparty failures, thus defaulting the debt world wide will not be an option. They will let the public have a look into the abyss and then print baby print.
Well said sir. Very well said.