I expected many of you to point your crooked fingers at me, once the market moved against me. Yes, as a matter of fact, this is what it’s all about. Don’t you worry about me, I have my gasoline spray guns ready, with matches not too far behind. You didn’t think I expected to be right immediately, did you? Let me be the first to tell you, coming from a person who is accustomed to be right, this is a process. I EXPECT to be wrong, before vindicated through sweet winship.
We all have choices, while living out our days on this stupid planet. Obviously, you choose to bet against me. How’s that working out for you, year to date?
Yes, the data was good. Yes, the market is higher. Yes, I still think we trade lower.
No hiding.
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Because of the holiday, many states did not report so the D.O.L. “guesstimated” the figures.
Dude… I believe ya. In fact you frightened the shit outta me with your view that the anal ysts will be higher than where the results will come in at.
But my question here is… and i’m not doubting you.. why is VXX the play here rather than outright bearish play on a short as you can have the market dribbling down with vol holding… it’s a little less likely but it would be still an okay play for the downside, no?
Even though were higher were still just a few pennies away from the PPT top on Friday.
I like it better when you scream and whine like a little girl who has been violated by her uncle;
like when you were in California and the market fucked you in your hotel room…you were nearly
ready to join the gotdamn Harikrishnas and renounce your evil arrogant posture LOL!!!
That is not funny.
That’s too funny.
This rally will not hold.
Sir, I would never question you. You are usually right a few days after you made your stand. 5 days before the september rally, you were bullish when all stocks technically, chartwise, looked like they were going to fail.
You stood up to the hindenberg omens, the death crosses, all the bullshit technical indicators and you made those chart chomping motherfuckers EAT IT.
I dont understand how your so good at blogging. I understand how you can kick ass in the markets, but to constantly come up with entertaining posts. I dont get it.
I keep my life enriched.
I think VXX is another FTK for The Fly.
You may be right about that.
Now is the time to load TZA and VXX……
Just sold off my DJP position…what a piece of shit that thing is.
Sir Fly,
I would like to thank YOU, and the PPT, for I am up way north of 50% in this wacky mkt
P.S. thanks for the entertainment along the way as well
Actually, Fly, I believe in your abilities and I’ve seen them in action. It would be foolish to expect the market to move immediately in the direction for which you’ve positioned yourself. That would happen if you’d pick perfect bottoms every time, which, as Hugh Hendry said, only monkeys do. And you’re as far from being a monkey as an outerspace alien is.
Having said that, I conceive your blog as real time trading/investment diary of a top professional, and feel myself really lucky to be able to see through this window. If some assholes can’t see beyond that and only point to perceived mistakes of yours, that’s their misfortune. I know you don’t need to hear this, but thanks for candid sharing with us both successes and slippages.
Allright, allright, that’s enough ass-kissing for the day.
We don’t want to start attract the Dope Slope cultists by accident.
______
A Happy Jewish New Year to all of my friends on iBC. Neighbor Fly, we are looking forward to the Fly family coming over for dinner tonight. We have a couple of bottles of the Manischewitz concord grape wine for you that you like so much. Mrs. Steve wants us to all dress up this year. Tell Fly, Jr. that Steve, Jr. will be wearing his Bar Mitzvah suit tonight along with his first non clip on tie. Mrs. Steve is still crying about how her little boy is growing up. Anyway, I thought it would be funny if you wear the burlap bag that you wear on occasion when the market dives. Mrs. Steve will be surprised.
Shanghai LeToyota, my friend.
______
I’m learning to go by the shit Fly wrote 1.5 days ago. I think its for the busy people who can’t get to this blog on a daily basis.
We go up now. The religious doom people are taking the day off.
Would that be like… Thulsa Doom?
_________
Today is not doom. It’s the Jewish New Year, a joyful occasion…
Just became a proud owner of VXX. Complacency has again set in, as in April. However good the numbers have been, forget about V-shaped recovery. Debt deleveraging in balance-sheet recession takes years, affects GDP much more than official figures show, and the road is bumpy. All of this is good for my position, which I will counterbalance either with TZA or TNA, depending on the outlook.
Kudos to Ragin’ ..not sure how he developed his “lotto list” yesterday but I am very happy I took a gamble on PEIX. It’s up something like 20% since his post. Well done sir.
Fly,
you are right.. people don’t understand greatness.
What it takes to get there.
If they understood, they would be there themselves . No?
Im bullish between now and november. But, I had to get some VXX here at 18.57. No way we go up at a 90 degree angle. There will be at least another 10-20 point SPX pullback within a few days
You know I have been fixated on the stupid Shanghai Copper Bubble that has been forming since April 2009….well, that crazy sell off last night…which I thought could maybe be leaked trade data….well, something maybe a bit bigger…and MAYBE the pin I have been waiting for that stupid bubble http://www.bloomberg.com/news/2010-09-09/copper-slides-the-most-in-two-months-in-london-on-signs-of-u-s-slowdown.html