iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,325 Blog Posts

The Summer is Over; GET TO WORK

You lazy clam-fuckers have been vacationing all summer long, going on road trips, laughing it up with your stupid friends, all the while dining on “summer fare” consisting of “light foods” with lemon zest and olive oil on it and shit. Well, I am here to inform you, by way of this blog, that your summer is over. It’s time for you to throw on the old “business uniform” and advance your career. When I say “business uniform,” I expect you to wear suit and tie, especially when reading this website, fyi. When you go to Yankee games or whatever team you choose to root for, like mindless idiots, do you see those billionaire baseball playing gentlemen striking out while donning t-shirts? FUCK NO. Those motherfuckers wear jerseys, because it is their uniform. Well, your uniform is suit and tie. If I catch you in dockers, I will split your head, 2 for 1.

As “The Fly” celebrates Labor Day, there is much work to be done. I care not to discuss the great many intricacies of my business life, as that information is proprietary and worth many millions of dollars. However, I will tell you that I am prepared to rip the spines out of my enemies (mortal kombat style), if need be.

With regards to the market: I am anticipating a pull-back from current levels. Last weeks rally was a deathblow of sorts to short-sellers, especially since everyone was caught leaning (135%). However, this bottoming out business is an arduous process. I expect a pullback until late September-early October, then a hockey stick to the face rally until Thanksgiving. But, it’s important to remember how fucked up August was, when betting on a September decline. It’s very possible we might only get a 1-2% pullback, so don’t bet the fucking farm on a collapse.

Finally, we’ve been developing new tools for The PPT, that will shock and amaze all who subscribe. Just so you know, I am keeping most new features in BETA mode, exclusive for my usage, until the official launch of PPT 2.0, hopefully just in time for X-MAS.

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70 comments

  1. No One

    Fly is a Goat from Romania.

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  2. StocksRider

    You know what would be really interesting? Having a cousin of PPT indicator but instead of tracking short term, it will be for intermediate time frames – using weekly or monthly based data and charts.

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  3. ruggyup

    The whole market is a ruggyup and mr. ruggyup thinks the global nobles may keep it alive a tad longer. Will take some chances on Tuesday with a carefully manicured selection from the watchlist. Maybe sell some more shale to India. Put away the white belts and double knits kiddos. It’s time to rock.

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  4. Dr Evil

    Worth millions of dollars?
    http://www.youtube.com/watch?v=jTmXHvGZiSY

    Not relevent but, I heard that the day after Labor Day was the top,
    in ’29.

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    • No. 1

      Interesting observation Dr. Evil. And the day after the 4th of July in 1932 ?

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  5. The Bear

    Just a few weeks ago the buffoon (aka Fly) was talking about a complete collapse in the market. Now he is advocating a 1-2 % drop followed by another rally. Really, the Fly is Ignorant.

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    • omen

      I do recall The Fly predicting that he’ll most likely be short going into Sept, a WHILE ago, but I also remember him loading up on TNA like crazy, because he was thinking of a rally in the short term. Nothing contradictory here so far – I like that he’s happy to modify/change/etc his view (or timing, etc), based on what we see…

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    • The Zombie

      Caniform, pay attention.

      The Fly is God.

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  6. Po Pimp

    For those of you thinking about a new suit, I present to you Jalen Rose from the 1994 NBA Draft. This should be standard attire at the JPM fixed income desk:

    http://tinyurl.com/2bxwz78

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    • Heaterman

      Ahh yes, one of our UN-fabulous five. Who can forget Weber’s time out…………… Here in the Wolverine state we are still carry the scar from that debacle. As for the clothes…….there are pimps in downtown Lansing that are attired in a better fashion. Ho’s too….

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      • cebu sun

        Yes then after screwing up Michigan”s dreams he proceeded to GS Warriors where he ripped the heart out of the franchise by walking, as we lost the Big man we so desperately needed. Did he sow further anarchy later?

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        • Heaterman

          It seems I recall other carnage perpetrated on Detroit Country Day, the high school he attended in regards to recruiting or some such thing. A Google of “Chris Webber violations” brings up 17,000 hits in .3 seconds if that says anything……………just sayin’………..

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  7. Le Fly

    We had the worst august since 2001. That means something, jackass bearshitter

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  8. pistilstamen

    “Last weeks rally was a deathblow of sorts to short-sellers, especially since everyone was caught leaning (135%)”

    LOL.

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  9. shaz

    forward down forward, high punch

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  10. Traderone

    I have read Tim Knights blog. he seems like an honorable man . Can’t we all live in harmony?
    Peace love Fly…….Long live the PPT……

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    • Dr Fly

      I like Tim. Although I don’t read him often, I love his schtick.

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      • SteveTheNeighbor

        I love it when my Neighbor starts to kibbutz like Henry Youngman. He never used to do that until I moved next door and took him to the Catskills.
        He used to kvetsh
        and call people like Tim a shmendrik.

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  11. HonoluluTrader

    Cali made fly gay.Wearing speedos and drinking those fucking foo-foo drinks will do it.

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    • baron kurtz

      I did not fuck any clams. (bottom feeding scourge of the oceans) Nor did I cavort in pink speedos taunting Earl on sandy landfills. Nor did I drop nouveau dollars at the mall making China richer. I picked the rest of the ripened garden heirlooms. I opened the shutters, aired out the rooms,and watched the leaves. I listened to Django. I slept late.

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      • IndiePad

        I did very similar. The tomatoes are huge this year. Seriousy bountiful. It was a weekend for tomato sauce, ketchup and bococini salads.

        All those plum and red tomatoes remind me of a certain Christina. Oh la la…

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  12. noodle

    yep bac to it
    2 bad i cant just get drunk, eat delicious foods and fuck around in the sun forever…

    actually that would get really boring.

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    • flyaway18

      Depends on who you’re with.

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    • cebu sun

      Not if you structure your time. There is a time for laying beneath the mango tree in flip flops and a time to fire up the computer. A time to FTK; a time to bank coin. Turn turn turn.

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  13. logicalthought

    >>Last weeks rally was a deathblow of sorts to short-sellers, especially since everyone was caught leaning (135%).<<

    I suspect that the "Slope of Hope" guy aside, this is straight-out wrong. As of the latest report (8/13), NYSE short interest was the second-lowest it had been since January:

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  14. Carsony

    Would it be safe to say to get long on this pullback on a few retail stocks.
    Gmcr if i have it correct, and glw both seem do well go into the fall typically?
    I know you hold them, so probably dumb question.

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  15. arch

    guess who wasnt leaning the wrong way last week?

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    • arch

      on second thought dont guess ,you”ll get that fuckn wrong to

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      • Po Pimp

        I’m just glad they didn’t shake me out until I cashed my TNA in for big dicked gains.

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  16. Bullish

    I’ll be wearing my top hat and carrying my cane tomorrow. Not that I need a cane… It just makes me feel important.

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  17. Carsony

    All of a sudden obama is all over “we need jobs” little to late. That should have been his priorty day 1.

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  18. Redrocket

    Mr. Fly,

    You are officially full of shit.

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  19. Le Fly

    Plenty of jobs in china. You middle class fuckers better learn mandarin

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  20. No One

    Too late is not an excuse to further delay job market improvement plans.
    However, Obama needs a much much better plan than creating construction level jobs.
    That’s just low grade. Fly can’t lift crap even if his life depended on it.

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  21. stevef22

    Scott’s free trial closed already?

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  22. Prospectus

    “I will split your head 2 for 1”

    Well spoken sir.

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  23. arch

    since there is no mention in this dress code about facial hair i will be sporting a miracle mustache for the next few months..rip proof & fire resistant

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  24. Dr Fly

    You are now banned!

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  25. Bullish

    @arch: i will gladly shave this Labor Day beard I’ve been sporting all weekend. Tomorrow is game time… gotta look you’re best to win it. A true gentleman shaves clean when entering the meatgrinder!

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  26. No One

    I don’t see what’s so terribly special about tomorrow.
    What are you expecting.
    It may just end up being a calm day, in fact.

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  27. Heaterman

    Could not agree with this guy any more. He is spot on in his assessment that the economy will go nowhere until the consumer is done de-leveraging. And that my friends is going to take some time. Sideways we go……….at best

    http://www.debtdeflation.com/blogs/2010/08/29/what-bernanke-doesn%E2%80%99t-understand-about-deflation/

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    • arch

      you should view the futures before making a spectacle of yourself with the late night link whoring

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      • Heaterman

        So you are saying that the consumer does not drive economic demand anymore? I’m not talking short term here. Think about how many decades of debt accumulation led up to the mess we are in right now and then tell me how long it will take to unwind………without an Armageddonish type event or two.

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  28. Trading_Nymph

    Business attire….I am so in violation of that….Tank Tops don’t count huh?

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  29. JakeGint

    Hope your Labour Day weekend wasn’t as labourious as mine, and here’s some longer term assets you may wish to inspect…

    _____________

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  30. Teahouse On The Tracks
    Teahouse On The Tracks

    OEW Weekend Recap:

    SHORT TERM
    Support for the SPX is back up to 1090 and then 1058, with resistance at 1107 and then 1136. A familiar area. Short term momentum has remained overbought now for three days. An unfamiliar situation. The last time this has occurred was at the beginning of the July uptrend, which also included a few gap up openings. The market hit an extremely overbought condition very early Friday, but only pulled back 10 points before closing back at the high. This is typical uptrend activity. Pullbacks around 10 points or so are quite normal during surging markets. They are quite inconsequential as pullbacks of nearly 20 points or more create more important waves.

    MEDIUM TERM
    As long as the OEW 1090 pivot holds support then we should assume that Intermediate wave three is underway. Certainly a rally above SPX 1129 would help to confirm. Should the market begin to pullback again, break through the 1090 pivot, and start heading lower. The OEW 1041 pivot again comes into play. Remember, this market has remained in a SPX 1040 to 1130 trading range, spare about one week, for over three months. A breakout of this range, in either direction, will be important for the medium term.

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  31. go2mars

    http://www.minyanville.com/businessmarkets/articles/jobs-data-public-sector-jobs-government/9/7/2010/id/29949?page=1

    Jobs numbers and dismal, with weak prospects. Smoke and mirrors are ruling the day. Keep your bunker stocked. 😉

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  32. FlyFan

    TheFly is right again. Does he ever get tired of being right (almost) every friggin time?

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  33. I. Robot

    The Fly sees the future – we Robots will rule – hire a Robot and he/it will spit out $$$$ like an ATM.

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  34. Sherise Dalecki

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    I am trying to build a blog as part of a project, and I have been told not use blogger or any of the blog building websites, Requirement is to get access to my blog privately without using any public site that requires me to log on to them before i get to my blog. How do i do it? Or is there any website that could help? Please help. I am in a race against time. Please.

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  36. GEORGE

    Hey 🙂 Is it alright that I kinda off subject? I’m attempting to study your post on my new Mac but it does not show appropriately, any recommendations? Will need to I attempt to find an upgrade for my software or something? Thank you! Alethia x 🙂

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  38. dom pasywny

    Very nice

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  39. Maxim hot

    Edmund Burke~ You can never plan the future by the past.

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