I leave you faggots to watch the market for me and you done screwed it up. As a mellow vactioner, I really should not be subjected to wild stock market swings. It really is quite rude.
Fear not, for the veteran robots are coming home from vacation and will soon put some conviction into this tape, up or down. As you know, for now, my money is betting for a rally. But, the longer term picture looks woefully gay, which is why I still have 25% of my assets in the dumbest hedge of all time: the VXX.
It is troubling to see yen soar and treasuries rally. Basically, we’re all in the fucking vortex now, as the deflationary death strangle takes hold.
I will not try to minimize the difficulty of this tape. If you are having trouble trying to figure it out, don’t beat yourself up over it. This is as hard as it gets. Trust me when I tell you, it will get a lot easier than this, very soon. The market needs to figure out how to price in the data. It does not know if we are at risk of laughable Zimbabwe style inflation or heart wrenching Japanese style deflation. The way things are now, it’s pricing in both, as unbelievably retarded as that may seem.
I am not pleased with the current structure of my portfolios and will be making wholesale changes to them, as soon as I get back to NYC (tomorrow). In my estimation, my retarded hedging strategy, with plus amounts of cash, served its purpose of protecting my gains throughout the meat grinder tape of July-September, 2010. However, I believe the time has come, in coordination with the arrival of the distinguished veteran robots from Goldman Sachs, to pick a side and run with it.
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You used the word “retard” and that makes you a retard
Ask Jennifer Aniston:-)
So did u , retarded woman
I love the word retard. Fly… you and your family have a safe flight. I see you got out of HellLA. Cheers
Fig
Damn, thought I was first!
You are the first armed Peanut, at least.
__________
This tape is so easy it is frightening. Down. Half way back. Kiss down trend line. Repeat.
Purdy
Say that shit again and i will do jake a service and ban your stupid lying ass for good.
This is a fucking woefully hard tape.
Look at the tape from a short’s perspective. And watch who you’re calling a liar.
Even a flounder picks a side and sticks with it.
ha…
Fly,
Where are your d*stoc*ibcaxiom*reports now?
Fuck you.
Paul says no gold in Fort Knox. If that is true, i will go to my local politicians office and punch him in the face on principle.
Hmmmm
Fuck you too
“dumbest hedge of all time” LMAO
Banned
didn’t mean it as a negative. Enjoy them very much.
No don’t ban me, I was just laughing at your humor. I read this site everyday.
STU has been my best hedge, making up for all of the losses I’ve incurred on my consumer durables stocks. I did see that platinum has been hitting a line in the sand over the past few weeks and if the high-end foreign consumer weakens (jewelry) along with auto manufacturing, the guillotine may drop for those futures holders.
Added STU short at $19.13 today, Hmmm. It has been excellent.
It’s been a great hedge. I’m up approx 1% over the past couple weeks total thanks to this. I lowered my stop on it to about $19.65 (90% buy-back) so I can book profits if it squeezes some shorts and the market rallies.
Starting off the evening an a bit of a testy (or maybe rather…testicular) tone here. be interesting to see who’s still around in the AM.
Hmmm
First time i heard of this. There is plenty posted in ppt
If this blog was a war, there would be massive casualties.
Can you believe this latest bullshit? This is what happens when you let aging, mentally deficient hippies write your laws.
Wasteful moronism reigns supreme.
First, we kill the Boomers….
_________
Whew! Dodged a bullet. Glad I changed my name.
There morons! As noted in the article “The rule could also reward with a relatively low ratio those companies that outsourced low-paid work rather than keeping jobs in-house, lawyers said.” Does generation asshat want to make the economy worse?
Clueless meddling fucktards. Like retarded zombies with baseball bats running around in your living room.
And smug?? Don’t get me started….
___________
The boomers are the worst generation of all time
Truly, the Greatest Generation spawned the Worst Generation.
Which gave way to my generation, The Totally Freaking Farked Generation.
Some good was derived however, as a subset arose — the Skateboard Videotape Generation.
But only in Southern California.
____________
I gotta go with Purdy on this one
The financials are sucking large cocks galore
Without them, we aren’t going up anytime soon
Only gold, silver and TLT looks bullish
Very true jake
Ta
There have been no clear trends in months. Anyone who says this tape has been easy is lying or has no skin in the game.
Never fear QE II is going to keep the bubble inflated. Helicopter Ben will always protect the Wall St. speculators even if it means Zimbabwe style hyperinflation.
Chopper Ben has a few loose screws in his gyroscope…
http://www.debtdeflation.com/blogs/2010/08/29/what-bernanke-doesn%e2%80%99t-understand-about-deflation/
Deflation is a red herring… can’t have deflation when Blackhawk Ben is printing Trillions at the push of a button. Hyperinflation is what you should be worried about…
Yes, eventually.
But you can’t stop the de-leveraging train, unless you pass a law mandating that consumers take their stupid pills again.
HTCH was up big today! BV 12.46 Cash 7.01 closed at 3.46 +21%.Still fucking dirt cheap!
I just got an email from “The Fly” himself, granting me EMERGENCY POWERS over iBankCoin while he’s in his spaceship (aka, “le airplane”). Frankly, his trust in me to protect the site in his absence was ill-advised. I’m going to throw the Internet equivalent of a kegger in this shit.
Feel free to “dumb down” the site with stupid comments. Unlike Fly, I will do nothing to stop “the retard train.” In addition, rioting and looting will no longer be frowned upon.
So throw a few cold ones back, deface JakeGint’s blog, and above all, resist arrest by ANY means necessary.
Cheers!
Jeremy
Touche’
Did you ask for a raise and get the ubiquitous, “fuck off”?
I sense some angst coming from the help desk at iBC.
By no means.
Oh, BTW:
Bonus points for anyone who incites civil unrest at the Stocktwits HQ….provided you can find the damned thing.
I thought it was vacant??
________
Dump VXX and just go short TWM (2x Short Russell 2000). Small-caps are the biggest losers in any sell-off.
The Markets look like they are setting up for one big Fucktarded blow to the cock!
As of now, I am in charge, here in the White House.
Braaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaap!!!
Jeremy is fined $1,000.
About to take off.
Jeremy is fined $1,000.
About to take off.
Shit! Everyone scatter!
Is that in Federal Reserve Notes or iBC dollars?
Did someone just say the tape is easy to read????? Who the fuck? Speak up! I cannot scroll up because I don’t have time…so speak fucking up! Jeremy has given full permission to go ape shit. And I will see to it that I do that on your sorry ass.
Don’t pick on Jake’s nemisis, the douchebag-troll. He can’t help it.
Purdy, you are toast. On September 1st when the shorts are being slaughtered, I will offer you on the altar and make my peace with stock gods.
Alpha,
You love to be worshiped by the chicken hawk – I get that. Seen it before
Anyway, all I know who have seen shit are humble about it and don’t use it to gain standing …and don’t quote Hemmingway about how wonderful it is. You’re full of shit. Fuck off.
The time has come my friends — the time to wap the insano pinata!
Pass out the sangria and let the festivities begin, by Landreu!
__________
I don’t know what is more entertaining: watching fly celebrate his victories like a rapper that just got his first hit single or watching him eat humble pie when it blows up in his face.
Seriously, I do like your blog, but go ahead and ban me / delete this post if I hurt your feelings
If security is so strict on airplanes why do most of them allow you to board with a phone but force you to turn it off during flight? Odd, no? Oh hey, there’s disgruntled cell phone rep guy with fifty fucking Boost Mobiles strapped to his jacket. Snazzy jacket sir, just remember to turn off all of your groundwork pieces during takeoff OK?
Fly,
I would agree this is a trendless market but it’s far from bullish
Financials need to bottom out before we see something
Your bond hypothesis is becoming a reality.. Japan benefits hence the move not to fuck with the yen.
Create a demand for dollars and bonds. Lets see if I got this right the FED lends free money to banks… Banks then buy bonds and drive up the price, creating a rally in the bond market.. the economy flounders into deflation.. investors flee shitty stocks into bonds.. the bankers then sell said bonds and buy stocks at rock bottom…..the bankers all get rich.,, stocks start to rise again as FED bumps window rate. Rinse and repeat? Fuck everyone else…. thats what you get with GS in charge.
Looks like China is exiting while the getting is good…
China US debt holdings lowest level in a year: Treasury
By P. Parameswaran (AFP) – Aug 16, 2010
WASHINGTON — China’s ownership of US government debt has dropped to the lowest level in at least a year, Treasury data showed Monday, in a sign Beijing is increasingly keen to diversify out of US bonds.
The cash-rich Chinese government reduced its US Treasury bond holdings to 843.7 billion dollars in June, the lowest level since at least the same month last year, the Treasury said in a report on international capital flows.
The June data was lower than the 867.7 billion dollars in Treasury bonds held by the Chinese in May and 900.2 billion dollars in April.
China has repeatedly criticized the United States for its snowballing debt levels, fearing its investment in US government bonds could turn sour if a debt crisis erupts.
There are worries that if China, which remains the top foreign holder of US debt, continues to diversify away from US bonds it will become much harder for the United States to finance its mounting debt burden.
Some analysts also fear Beijing is secretly buying bonds via third countries to mask its importance as a creditor — a role which had attracted considerable scrutiny.
Still, the decline in US bond holdings in June and May is “a sign that diversification has become a growing priority” by the Chinese government, said Kathy Lien, director of currency research at Global Forex Trading.
“China has been an aggressive buyer of Japanese yen throughout 2010 as well as a big buyer of euros,” she said.
Beijing is reportedly turning bullish on Europe and Japan at the expense of the United States, whose recovery from a recession has slowed.
Beijing’s aggressive diversification policy was also underscored by a former Chinese central bank advisor.
China has been buying “quite a lot” of Europe’s bonds, Yu Yongding, an ex-advisor to the People’s Bank of China, said in an interview with Bloomberg news agency.
Yu was part of a foreign-policy advisory committee that visited France, Spain and Germany from June 20 to July 2.
“Diversification should be a basic principle,” Yu said, adding that a “top-level Chinese central banker” told him to convey to European policymakers China’s confidence in the region’s economy and currency.
“We didn’t sell any European bonds or assets, instead we bought quite a lot.”
China, which holds the world’s biggest foreign reserves at 2.454 trillion dollars, has also stepped up purchase of Japanese debt.
For the first half of 2010, China bought 1.73 trillion yen (20 billion dollars) worth of Japanese debt, nearly seven times the full-year record of 253.8 billion yen in 2005, according to Japan’s Finance Ministry.
The US government data Monday also showed Japan as continuing to be the second top foreign holder of US debt, followed by Britain.
Japan held 803.6 billion dollars worth of Treasury bonds in June, higher than the 786.7 billion dollars in May, while Britain had 362.2 billion dollars in US bond holdings, up from 350.0 billion dollars, according to the data.
Experts believe official data almost certainly understates Beijing’s US government debt holdings and some say China-linked entities may be scooping up US bonds furtively on the London and Hong Kong markets.
“Even taking into account a modest… buying from UK and Hong Kong, commonly a source of central bank flow, China still appears to be a large seller,” analysts at Nomura Securities said in a note.
“We will monitor this closely, especially given recent headlines of China buying euro and yen-based assets.
” Lets see if I got this right the FED lends free money to banks… Banks then buy bonds and drive up the price, creating a rally in the bond market.”
Perhaps one of the most telegraphed trades of all time.
Fall trading theme song: http://www.kanyeuniversecity.com/blog/2010/08/monster/
All you camels who lost money today, drink and take the load off – http://www.time.com/time/health/article/0,8599,2014332,00.html?artId=2014332?contType=article?chn=sciHealth
I am totally amused. Looking at the end of day final Advance – Decline Volume we actually hit the second support I was looking for on that other blog earlier…..so totally cool….anyway for tomorrow, the logical move would be a attempted rally to about Advance- decline volume of 86,000,000 and a chop until we hear FOMC…BoJ has buzz that they will support the usd/jpy at 84.0000…..that should stop a all out drop…for now…..California says good bye to The Fly, Come Back Soon!!!!
awful use of the word retarded.