As I type this post, Mrs. Fly pesters me to “hurry up” and “get going,” as if I was a circus act readying to get in the clown mobile en route to our next destination. Nevertheless, I remain stoic and steadfast in my pursuits to ignore said requests and post “gems of gold” on the internets instead. By the way, I just said “leave me be, for I am posting gems of gold on the internets,” in my latest rebuttal to “get going.” Needless to say, she was not impressed.
At any rate, today feels like “the day,” where we rip tits off the bears and call them our own. I see strength in all of the fashionable names. And, TLT is down a smidge to boot. My only concern is the Japanese Yen. For some dick-ass reason, that fucker will not trade lower. However, let it be noted, it shall succumb to the pressures of bullish robots, one way or another.
At the present, my largest position is FLS. I am hanging my hat on that son of a bitch and demand my millions. Second to that, if I was a perverted clown, I’d circle jerk to CLF. However, I am not of the perverted variety and I do not jerk to anything. But, the stock is ghetto projects cheap. Do yourselves a favor, go ahead and check it out.
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fig
Always have hope, because hope is like a dream..
solar on fire
here is a ‘gem of gold’ from me: forget all this crap this week and let your family think they have your undivided attention.
STFU. I post once per day.
There is a good 300-500 points of near term upside. It has been written.
Gem of gold.
That’s killer.
Yes, today is the day.
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Always nice to see a good bear tit ripping market performance. 🙂
Have a great vacation. The best way to have a great vacation is to make sure everyone with you on the trip has a great time. Leave us alone, be with the family, and have a fun time.
Holy shit are you fuckers serious? Quit giving me advice.
Next one to offer me a cliche, I will ban, then kill.
Hale Sicily!
I’ve got my Bear Teet Collection jar awaiting the fun…. ebay here I come
Got to hand it to you man, you keep the humor coming and it’s quite funny too.
Here is my new “gravatar” but I have no idea how to upload:
http://img-thumb.ffffound.com/static-data/assets/6/83c288d609822e300e290c558cf9b4c75277e7ef_xs.gif
Tim Curry in clown make-up, even scarier than Tim Curry in drag makeup.
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The overall direction should be up.
But, there is a slight problem.
There is a rounding bottom formation in the US dollar 30, and 60, minute charts. The market will be lucky to close up 50, unless we can break that UUP support.
I think UUP is going to have trouble recovering that gap down.
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Question – what is “FIG”??? I See this in other posts too.. what does it stand for?
Fly Is God
Hey Fly, Just signed up, #1000?
Fly is Gorgeous
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Give it a rest Jake – I don’t think he wants to pitch for your team.
The Yankees?
Perish.
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Florida Institute for Girls
INDEUD
The market is following TLT more than any currency,
Fry is gord.
No, Jake…not gord, GORD.
LOL. I know that’s you, Dawg.
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Ah, just as I suspected, big man on campus, henpecked at home.
While all you Bulls get all jazzed the S&P500 Monthly chart is getting ready to kiss the ring of fire Monthly 200sma and implode on itself. S&P 700 print is in the cards by New Years. Enjoy!
Sierra,
First, this is the first month after it slightly dipped below the 200SMA on monthlies. The month has just started. Wouldn’t you wanna give it a full month or close to a full month to get a confirmation? Second, it is still above 200 EMA.
S and P 700?
Your scenario would require a major crash in oil prices.
No fund managers will be willing to short oil down to 40 dollars. There is too much geopolitical risk in mideast / N Korea.
Will be lucky to ever see oil at 60 again, in the next 5 years.
I remember a show from the tv series M*A*S*H that had a quote, “welcome to the Henry Blake cliche club”, what a riot.
I just saw a ball of flame sprint past me.
Pretty sure it was TMoe.
Le fly wins again
Yes, I never had a doubt.
Expecting strength into the close, follow through this week. 10K+ on the dow.
Thanks again Fly, I bought a boatload of SPY calls Friday – with highly correlated market I have just been using your market timer on tops and bottoms to indexes (the GOV and Greenspan want these to be positive indicators) and banking ridiculous coin on calls and puts out less than a month. No more than 5% of my portfolio at a time. The timer can also be lagged by 2-5 days.
Oddly enough, I have had much more success with ETF indexes and your OS/OB calls than individual names.
GOOOOAAAAALLLL!!! 10K+ Ritches Bitches
I dusted the cobwebs off my Dow 10K hat. That’s right, bitches!!!
I also took a position on CLF today….put on CLF 35.00 OCT 10 @ 1.73 …they IMHO were stupid to purchase that other company with a slowing china
I went long CLF today. I was going to get in early but patiently waited for a pullback, which never really happened; I’m in around $47.
I think the news coming out about the Australia iron ore tax being cut down from the ridiculous 40% sparked interest for BHP and RTP, but you should consider that 22% of revenues for CLF come from AUS. If you assume they cut the 40% taxes to say 25%, that would increase their net earnings 5.5%.
I like the fact that coal shipments have been increasing according to rail reports. Steel capacity utilization has been increasing over the past couple years (in a holding pattern now) and is above average. I’ve read alot of conflicting news articles about auto sales but you can’t ignore the fact that Ford auto sales in China are triple digits growing yoy (113%). That is significant for the rolled steel industry.
Could you give me a link to where you track iron ore prices/news?
New trades posted http://www.ibankcoin.com/peanut_gallery/index.php/2010/07/07/trades/
My portfolio has gone from largely short based to largely long based with some hedges.
Fuck the market…it’s going higher btw.
The imperial thing going on right now is the second half of the most important game of this WorldCup, commencing in about 5 minutes. WATCH IT!
This rally is super-baLL-Less ( every leg up today is just lil short covering supported by homosexual no-dick buy-volumes ) so it will evetually lead the followers to a place of unforgivness and horror and complete darkness.
Dude, you have no clue what you are talking about
that is , watch carefully your steps
Can someone say get a leg up!
Fly,
Just an idea:
When you get to Acadia, make sure to drive up Cadillac Mountain to see the sunset.
It’s a great view.
At the summit, if you are so inclined, you might also yell out at the top of your lungs, “Today was the day! I f—ing called it!”.
You deserve the accolades, buddy.
What an ass kisser. “Buddy” 2 to 1 you’ve never been there.
Stfu.
You don’t have enough money to wager with me. And that’s a good thing, ‘cuz you’d lose that bet, bitch.
Oooh big rich man. Probably lying there too!
Just curious, what is Cadillac mountain known for?
The only reason to go there is for Ben and Bills chocolate and ice cream (even though, unhappily, they did change their chocolate chip strategy from shaved to chunked.) Other than Ben and Bills – unless you like crowds in polyester pant suits – go a bit north and you can find numerous bays and hills where you can imagine that the planet doesn’t have 6.8 billion people bumping shoulders.
Because it doesn’t, eco-tard.
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covered my entire VXX short (from 31) and sold all my RDN long. margin’d out a little hard and reaped the rewards thanks to the PPT oversold print. not feeling confident about the typical +25 to +50 dow follow through days we usually get after monster moves like today. gonna step aside and see what tomorrow brings. thx again to fly and peanut gallery destroyer Trading_Nymph.
THE FLY IS GOD, DAMMIT
THE FLY IS, GODDAMMIT
THEF LY’IS GO D’AM It!
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This Market really thinks that ECB is going to give them mo money, mo money tonight….I bet PPT is overbought at this point.
PPT might be getting closer. my target to open shorts again is around dow 10.2k. all of my moving averages (15 / 30 / 45 / 90) are looking to collide in that range. i just don’t see what the juice behind the market is going to be to turn those around and push ’em upward to the mid/upper 10k range. today was damn impressive though.
TRIN is like .27…there is NO gas for any rally, this thing was started at a weak point. IF Santa ECB doesn’t give us Mo Money, Mo Money…..fwiw, I like using the SPX instead of the DOW, it has a better overview of the entire market….
Watch SWHC. Federal registrations were up about 4% last month. Could be good news for S&W
Dinner is still on me on your way back through Portsmouth …. now, to figure out a way to be lucky # 1,000 …
He already told me “Fuck New Hampshia,” sorry.
And this is from a Hanover guy, so I sympathize.
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Yah! Da Fry is Gord!
I go count my money now.
So the dollar held its lows, but the market responded in a “flamboyantly” rebellious manner.
http://www.youtube.com/watch?v=MISUHTo2NDs&feature=related
Ive trimmed back to 3/8ths long in my portfolio. Until this bullish “rounded bottom” breaks down in the Us dollar chart, its hard to get enthusiastic about chasing upside breakouts. There will be pullbacks.
75% of the “Fear Trades” are short term oversold( TLT VXX UUP ).However, those Bullish megaphone Daily patterns are doing nicely the major markets. http://tiny.cc/flaoc
If you’re bearish, or bullish, here–you will find plenty of opportunities in the approaching intraday chop. You can forget about a hard breakdown, unless Iran starts enthusiastically giving up their nuke sites. No oil crash=No SPY crash.
$USD is going to $81.85.
Mark it down.
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fucking epic. thank you all at iBC and the PPT!