Now that Basel III is a phenomenal success, effectively letting banks play with marbles ’til 2019, the market is free to reward longs with antagonistic rallies, all the while spewing out fucked up economic data. Don’t worry, I will spare you the sour grapes, as they do taste rather, ummm, sour. I can go on about money supply and the fact that this economy is heading towards a DEFLATIONARY VORTEX, despite what CH believes. However, I will not.
Did you know “The Fly” douses his food with hot sauce? I don’t do it for the flavor, mind you. I do it to remind myself that this shit is hot, which in actuality has nothing to do with eating. Just like buying and selling stocks has nothing to do with making a living, for me at least. It’s about winship, on a conquer and fuck your whole life up level. Days like this serve as a reminder that this shit is hard. There are no free lunches and nothing is guaranteed.
Having said that, I cannot buy stocks up here, so sorry. I am pleased to see EWZ, BAC, iBN, GMCR, C and SHLD higher. But you need to put things into perspective, when walking around with crotchless suit pants. Motherfucker, I am up 30 times what the S&P is up this year. I ate today’s loss like a hot chicken wing. Nothing more, nothing less.
See you cocksuckers tomorrow.
[youtube:http://www.youtube.com/watch?v=ZtdAXL7KaaM 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
WIG
HA!
White investment guy?
Wings’ is God….(spoken with a southern drawl).
Hot chicken wings can give some pretty nasty ring sting.
FIG Dow 36K
The Fly is God.
You’re banned from Paradise.
Actually I’m going to Vegas end of the month.
Zombie,
Just got back a couple weeks ago. Check out Jersey Boys. It one of the best musicals, I’ve seen in a long time. It’s the story of The Four Seasons life, especially Frankie and his song writer Bobby accompanied by all of that great inter generational music.
Thanks, Hawaii. Much appreciated. In about twenty trips to Vegas since 1993, I’ve seen one show–Penn and Teller. I’m such a degenerate gambler, I spend most of my time in the Sports Books filling out Super Teaser cards for the football games. Can’t wait.
I hope Fly is ready for another up day tomorrow. This melt-up continues for the rest of the week. We will see what happens on Opex, but I have a feeling Fly will be really deep in the red by Friday.
ur banned.
Ciao
I am making a call right now, to whom is none of your concern. The person at the other end will make sure my shorts will not need to be covered. Tomorrow we close in the red. I do this one favor for this blog. that is all
el yucateco?
Today made my left eyelid start twitching.
I think Vinny Chase’s left eyelid is twitching too.
Try a Valium and a Heineken
The V.King has enough Type IIa fibers for everyone….
…in his little Popeye finger.
Ah there you are…Do 30 deep knee bends and 30 push-ups right now.
Don’t know what that is but if it helps my physical strength I will take a bucket full.
I am off for a 3 mile or so walk to get back in shape as my son asked me to caddy a couple of Nationwide golf qualifiers in Oct.
I am in serious trouble
TC–
He’s not talking about a laxative. Sorry.
Good luck on that golf thingy.
You don’t know what deep knee bends are?
Let’s start small…50 jumping jacks rest for 1 minute 50 more…repeat till you do 10 sets…
You will need both knees replaced and maybe hip replacements too. 10-10-10-
Dat el yucateco shit is hawt!! try the Kutbil version.. it’ll burn a hole in your palate like some Alien blood
Looks like there’s still more upside left. Retail numbers tomorrow. Look for the bulls to use any excuse to push this market higher, to the edge of this trading range and beyond.
I was buying stuff today like EWZ, FXI and PIN just to get some long exposure to alpha because the momo players are pushing the line of scrimmage further up field. This shit can feed on itself far into the irrational bizzaro world.
Puma Punku rally, no?
Crotchless Suit Pants….CH…LOL
Mutual Fund Mondays…they never follow the rules at all….they just buy….like, taking forever..
If “Turnaround Tuesday” doesn’t happen tomorrow, the rest of this week could be very interesting.
How about the “September Surge”? Should be an interesting month.
Very interesting month….decreased demand and the bots just run it up……Japan PM kept his job.
CNBC was playing around with the Basal/Basel way of talking today. I think that shows they mine this blog for amusing material.
I have being following for a while and there is NO way that you are beating the S&P for 30 times!!! (16.00% return)
Probably “short in April” gave you some bucks…
you lost this entire 9.00 %
good luck on the next down leg… probably you are better on down mkts.
Dude – I’m a low risk “piker” gentleman, and I’m crushing the S&P much, much more than 16%. LOL. PPTig!
TZA got smashed today, nothing small about that loss
FIG!
P.S. But S&P was -1.46% as of September 9, 2010 as per Raymond James.
Latest Post. I am looking at this rally and I am semi-peeing on it. http://ibankcoin.com/king_of_the_pg/2010/09/13/bull-and-bear/
Sorry wrong link. That was the prior post. This is the new post – http://ibankcoin.com/king_of_the_pg/2010/09/13/bull-and-bear-%E2%80%93-part-2/
either way…no one reads them
V.King good for you.
What a sport – just that for that, I’m reading your new post.
Huzzah, sir!
Idiots talking about Fly getting destroyed: “Poh – zit – eeun Seye – zeeng”.
Also, put on a tie when you wear those crotchless suit pants.
Casque
I am up 30% and that is fact. In personal, i am up more than 240%. You people are funny. The market moves against me for a few days and you declare i am getting clobbered. Fuck off
Remember what the Fly say’s..”just when you learn the answers he’ll change the questions”
The Fly got game…And his trading trail leaves all you haters in the dust….
Now drop and give the PPT 20…
Looks like we could see a resumption of the much heralded, government sponsored 40-points per day program later this week. I, for one, would enjoy a revisit to such simpler times where I could simply sit back and collect all my daily points without fear of retribution or flash crashes.
However, I am going to need some sort of selloff prior to the program recommencing in order to properly enjoy it as I am currently basking in a rather unruly amount of TZA.
In case u people have heads made from lead, i am net long. I have not been net bearish since may. Where you come up with your facts are from your ass.
They see what they want to see.
Even if the place where they see them is not lit by any earthly light.
Nor sunshine neither…and that’s even with the crotchless suit pants.
75% TZA makes your personal account NET SHORT.
Dare I say it? May be time to pull the trigger on that VXX shotgun… all time lows… concensus on all upcoming reports is for improvement…the old guy is bullish on America…. Worth starting a position, maybe tomorrow. Sold out UCO and some stuff today.
Any one factoid fart (i.e. economic report) this week or next will trigger “top of range” blithering redux right at the … well… the top of the range…
Its always best to make downward revisions to previous reports so future reports appear brighter by comparison.
If i recall correctly, all of you ham and eggers were bearish when the market was going down last month. Now we are up so you are bullish. Zero originality
true story
Not me
Well your name is bullish. I expect nothing less than foamed mouth excitement from you.
I don’t understand the low volume talk – computer trading is in milliseconds so the volume from that stuff has to be tremendous. However, the holidays are keeping the volume down some here except the computers are not very religious.
The Chinese sovereign wealth fund should be buying the hell out of the US market. The trading is spread around a lot these days so they may not be adding it all up ….plus dark pool stuff is hidden. The Presidential cycle has an average gain of 50% from this year’s low to next year’s high. …..but we don’t have a President.
Missing president? I know exactly who we should call….
http://www.youtube.com/watch?v=XKylO_zfGIs
Looks like the kind of volume one would expect for dinner time at Hannibal Lecter’s.
Mr. Fly, I bought shitload of TZA today just to be on your good side:). I will ad to TZA and start a VXX position in the folowing few days as prices becomes too hard to resist.
Lol – I just hope I have lived up to my name.
i remember when you and the other traitorous bastards left me to die, while i soldiered the middle with heavy muscle….howd that work out for you
That was called stepping out of the way of the oncoming freight train. Perhaps you recall me taking all hedges off and going very long right around July 2nd.
When sentiment here gets real bullish, it’s time to selll.
i have to disagree..when sentiment turns real bullish here we go back to dow 14000 the next day from this level…how that be ?
I guess you are right, historically speaking of course.
C farley
You can twist it how u like. Yes,
My aggressive accts are net short. I am very clear about that
i did add to my FAS @ 22.05 this morning with futures moving and good news for the banks everywhere i looked this weekend… now at 1/2 position … looking to add another 1/4 position when it moves up again tomorrow..
to my bearish friends dont worry theres only 4 more stock buying days till DOW 10800
Four?
yes then we go to 11100
Can’t we all just get along
Chinese are not BUYING US$
They buying YEN <—fuckery with Japanese…this is one reason YEN stays stronger…Chinese buying the crap out of it at every dip.
Japanese are fucked here for trying to devalue currency and exports will pay dearly….thats a win win for Chinese
Apparently 2 can play this game
Times have changed – a Japanese economist says Japan is running a slight trade deficit due to high cost of commods – the strong yen buys oil, etc. well but there is a deficit.
The movie Wall Street: Manipulation never sleeps got 3 stars….cool
Mr. Igor
Knee replacement for Traddy Caddy would be a far better fate then living like a veal.
Remember to be big you must be big….. V.King 1:01
http://www.youtube.com/watch?v=3cR6vG0loh8&p=1BB44E1375D592AC&playnext=1&index=38
That guy will need a good chiropractor someday.
Nice post.
Last year who would have thought we would be right now
Now that we are here everyone thinks we are going higher.
Time to go short?
Last year, who would have thought we would be here right now.
Now that we are here, everyone thinks we are going higher.
Time to go short?
Last year who would have thought we would be right now
Now that we are here everyone thinks we are going higher.
Time to go short?
I keep hearing about this rally being built on thin air but I find that hard to believe. Consider the following:
1)China has real growth – just look at the facts
2) Microsoft will issue debt to buy shares and dividends – free money sloshing around
3)HP is so giddy to do buyouts they arn’t even willing to wait for a CEO to do deals
4)US is not double dipping – period. If you don’t believe me just ask Warren B.
5)Euro banks have nearly a decade to prepare for Basel III – in the meanwhile they will gamble with the extra capital
I’ll stop there… but one more for Nymph – Palm Oil futures are at one month highs and China steel prices are surging
6.) The dollar has resumed it’s decline.
1.) China’s “growth” is what they say it is—after they manipulate the numbers in their favor.
2.) MSFT’s Ballmer is an idiot. He still hasn’t fugured out what to do with all the cash. Issue debt? Ya sure.
3.) HP wastes money, giddy or not.
4.) U.S. is headed for the fatal funnel. Keynesian-style government stimulus does not work. They tried this already in the 1930s—so did Japan. Look what happened.
5.) Euro banks have 8 years because they NEED 8 years. That is how bad things are in the Eurozone. Banks are not lending, much less “gambling” with their “extra capital”.
You rep your name well.
MSFT cash is all sitting in Europe/Middle East/Asia from normal business operations.
The US Gov’t says if you want to bring that money back you pay 40% taxes on it, Microsoft says go fuck yourself, we will keep the cash overseas..you lose.
The problem is, most of their costs (salaries/dividends/etc.) are incurred in the USA, so they will have to raise cash in the US via debt (its cheaper then repatriating the cash (& paying taxes on it) thats sitting overseas).
Bush had a tax holiday not too long ago (for situations such as this) and almost 100 Billion was repatriated (from the likes of Pfizer, Eli Lilly, Coca-Cola, Cisco, Microsft, etc).
The dems should vote in a temporary holiday to get 100 Bil back in the USA,… which can be used to hire people, pay divs, whatever….
Alpha
Msft was purely used as an example of corp debt issuance. They suck as a company.
Free money equals loads of investment, mergers and expansion. You will see time. I smell global growth.
People invest to a greater degree when there is a certain level of confidence about the future. Companies are no different. The confidence that is needed is not there right now. That is the essence of this crisis we are in.
You give people money right now, and they will not spend it like the politicians want them to. They will pay down debt or save it. That is deflationary. There is no getting around that.
This country has been sold a bill of goods that it’s all about the consumer and consumption, rather than capital formation and investment. The latter creates jobs, not government stimulus. Government stimulus is a one-off quick fix. It doesn’t solve the structural problems caused by the excesses of debt—both public and private that have been building for YEARS. You cannot borrow and spend your way back to prosperity.
The excesses must be worked off. The deleveraging will and must take place. That will take time. Time that most people are not patient enough to see through. So, they will end up making things worse with all the attempts at quick fixes and ad hoc approaches. This is where we are in the long term cycle and the big scheme of things. What is needed is a long term strategy that will begin to restore confidence about the future. However, this will not happen under Obama’s watch. He is a ideologue, and cares for nothing but bigger government, and a smaller private sector. This is what he sincerely believes in. But it will not make you or I or anyone on this blog more prosperous. It will not bring about the recovery that people are expecting.
Companies are hanging on to cash because of the uncertainty about the future of the global economy going forward. They are taking a lesson out of the playbook from Japanese corporations, where 15+ years of government stimulus hasn’t done squat for that economy. Yes, there will be M&A activity simply because of the cash levels and the valuations in certain industries. But the big picture remains the same. Disinflation, slow growth, deflation. Pretty bleak. Yet, this doesn’t mean the stock market can’t rally significantly. The market is cyclical and moves from accumulation to distribution, from impulsive to corrective phases. Everything is so short term oriented. Everything is so compressed down to weekly and daily data. But, the fundamentals still point downward over the long run—until such time that the perception of a more sustained confidence returns and people and companies begin to invest for the long term again.
@alpha. fantastic well thought out comments. something worth saving and reading again down the road.
I highly doubt the Russians are going to pass on this opportunity.
You know what’s soooo strange??? Best Buy handily beats and raises. Retail Sales up?
I thought no one was spending? Where’s the deflation?
truth was told.
Alpha… when are you going to get your tab back and start blogging again?
I agree with alpha’s arguments. Two side notes to add:
(1) Inspite of the M&A announcements, it is surprising that the frequency and number of such announcements is dismally small compared to the trillions of dollars of cash companies are sitting on. Most likely companies are waiting out the fall or elections or both.
(2) I am bullish longer term. But investor sentiment is complacent at best. We need to shake that complacency off before the market can surge higher. We need a low to work off the sentiment.
Fly,
Not to tell you what to do, . . . . . but hot sauce on western style scrambled eggs is the way to go. I’ll admit first time I saw a friend spice up some eggs I thought he was nuts. Then I tried it and I was sold.
Separately, Hulk Hogan called me this afternoon and told me to buy WWE when it dipped below 14. Was that his meds talking or does the 10% dividend carry WWE back above 18?
An industry I am bullish on is commercial aerospace. From Fed minutes, trade reports, etc. there is indication that they are ramping and analysts are initiating/reiterating coverage (see 9/8/10). I’m trading around a core position in TIE as they are a solid company actually generating positive free cash flow, not suffering from a overgrowing inventory, and positioned to benefit from some Bluestar black collar shit, just in time for Wall Street 2. The chart looks like a Connect-4 champion’s wet dream too, diagonal for the win.
In FlightGlobal today (this ain’t paper airplane news) they reported that July 2010 airline orders came in at 347 crafts, a very high figure. There were 156 Airbus orders; the highest since July 2008.
@Alpha: Great post. Could not agree more. I, among many, appreciate your input.
Excellent, thoughtful comments from Alphadawgg. Thank you for posting.
If you have not seen this, it is amusing-
http://www.youtube.com/user/schmoyoho#p/a/u/0/KucV8renOfI
Deflation is right under your nose.
damm fly you miss out on GLW
Gold up $23 on no news. Interesting….
The Fly said it best: it is very hard to top or bottom tick but he is still dead on, pardon the pun. Something wicked this way comes.
Why do you think that? The double dip was priced in and now each and every piece of information shows that it will not happen. I would be very scared to be defensive or bearish right now, but we shall see.
Ken,
Agreed on the double dip but did we ever get out of the great recession? 2 things, the nirvana of mo-mo traders/hft guys who only worship at the alter of price momentum. Second, the cavlier attidue of the mayor of Harrisburg, PA. We won’t cut off services, we will not pay our debt. They can’t pay it.
Harrisburg is chump change when we talk about the state of municipalities. Boston’s mass transit
system is paying 500 million are year to service the 8.5 billion of debt just on mass transit alone.
Danger Will Robinson!
Who will win here?
Financials v Chips.
It is like:
Ali v. Liston.
Rays v. Tankees.
DOWN GOES TZA’er,DOWN GOES TZA’er,DOWN GOES TZA’er
Ha Ha.
Just like the thrilla in Manila.
Long UUP, and Long QID—but only for daytrades. Id love to swing short this market, but weekly charts of risk avoidance vehicles (yen and swiss franc) still look too crowded long.
Like usual, I am on a long trip away from the office, my internet connection sucks, and my stocks are kicking ass again without me. Maybe the stock gods are trying to tell me something?
Dollar bomb, Silver’s On!
Get ’em while they’re hot, gentlemen and ladies.
_______________
Oh yeahhhh, greater fools out there, get them while they’re hot!!! – LOL
Almost everytime i have bet again the fly i have lost.
POMO days Wednesday and Thursday. Perhaps we should consult the shadows, it would appear someone knows something that we do not.
QE2 announced next week? Or is this all an attempt to get the dumb money back in just before the bigs sell it all to them as greater fools?
When will people learn that it’s all about the dollar?
So PPT mathematics in no longer any good….?
POMO days Wednesday and Thursday. Perhaps we should consult the shadows, it would appear someone knows something that we do not.
QE2 announced next week? Or is this all an attempt to get the dumb money back in just before the bigs sell it all to them as greater fools? Gold is up huge, what does it mean other than the dollar is weakening?
This market is irrational if you think the purpose of stock prices is to fairly value equities, very rational if you understand who controls price and that the market exists to take loot off of suckers. Does anybody still believe in the efficient market hypothesis?
There’s your 40 dow points… everyone pack up and go home for the day
1130, she can’t do 1130…not with 3 barrels on her she can’t!!!
Wake up FLY!!!!
the sun is out…
The Market is on a Rally!!
probably thats why u still in bed!!
LOL
Have some respect
The guy just got caught on the wrong side
Like it never happened to anyone else.
P.S. Drop is ever closer, writing is on the wall.
Picked up some DXD up here. Took 10 cents gain in VXX. There is way too much intermarket confusion to have a true trend up day. Any further pushes up are easy shorts.
TED Spread back down to normal post 2008 levels. VIX back down under 21. This rally could last another 2 weeks and pummel the shorts, but eventually it all falls apart.
Go to the Peanut gallery you’ll find much better analysis and ideas.. time for change…
I can see it now.
All of the retirees are selling their interest bearing securities to buy CSCO.
Lol @ TC.
Indeud. This market may take a long, long time to fully recover. People have been conditioned to sell the “rallies”.
“There are no more balls to place on the chopping block”, say the market eunuchs.
bot some FAZ
I had a dream tonight so bought 50k of TZA. Will see if it was smth real….
OK… stop picking on Fly…. Mistakes are part of this business and everyone makes them… and it is not over until it is… Picking wrong side happens to everyone, but buying 3x ETF simply because you are looking for more beta is wrong… they should be banned, period. These products just don’t work… they seam like they are, but you have to have perfect timing and nobody does perfect timing all the time…
One of those days…
I blogged 4 pairs -swing trades…2 were almost to the pip PERFECT
the third?….so so…made a couple bucks…no big deal
and the fourth?
COMPLETE FUCKING MISS
Guess which two I took….go on guess….
Do as I say
DON’T DO AS I DO
Would you like some hot sauce with those trades?
Yes I would…..I’ll spray directly in my eye….I deserve it
Gollum Snacks article prints trial bubble. Hints at Fed QE to hump the market higher over 1130?
http://blogs.wsj.com/economics/2010/09/14/goldman-fed-may-announce-new-asset-buys-in-november/