As much as I would like to see 99% unemployment and the Dow at 32 by tomorrow, it will not happen. Today was nothing more than a pit-stop, in the great scheme of things. While it’s true, AXP caught an ax to the face today. It’s also true, people with clown-like large wallets will be buying it tomorrow.
Do not make a mountain out of a molehill, else end up living inside of one.
HORATIO CLAWHAMMER is not interested in what makes you laugh, cry, only the end result. I’ve been storing my positions for over a month now. They’ve been fermenting, all the while you faggots danced in the streets, dressed in pink blouses and purple pants, made from latex.
I am very tempted to take a basket of stocks, specifically NFLX, FFIV, CRM, AKAM, CMG, VMW, WYNN and FCX and buy long dated puts on them. Go a year out, 25% less the current price strike. It’s better than playing lotto.
All in all, today was a good day for me, making that two in a row. It’s only a matter of time until the prophecies of “The Fly” come to fruition.
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FIG FIG FIG FIG
great title
Reefer Madness??
Fook you. We’re going to SPX 450 by the end of the fall!
We are gonna Test the lows then retest the test of the retest of the LOWS. 🙂
Toooo many wimps in the market these days… where the balls at? No not bulls..
I thought you hated options
that’s just what I was thinking
VXX muthafuckas!
Intersting action into the close. Not sure what to think of it.
I do: choreographed by Bob Fucking Fossey himself.
Every now and then I’ll pull out some of those moves on the dance floor. A couple travolta moves, some Fossey hip action, a quick moon walk, and my girlfriend literally grabs me to get me to stop it. It’s a good time.
Jim Rogers is the King of all permaclowns. That is why they bequeathed him that royal bowtie, during an elaborate ceremony in Peter Schiff’s Romanian castle.
lol
He Isn’t…..he TOTALLY remembered my Birthday so he is a GREAT GUY to me.
Jimmy Bowtie is most likely a billionare, self-made no less.
And you?
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Well at least you’re funny.
The booyah man recommended AXP here. However, I strenuously disagree.
Agreud: there is a deeply Bovian whiff to that call…
I’d like to add OPEN to that list of shorts…
I have joined the bulls….I look forward to closing out at 1170 on the SPY later this week. WOOT!
Nah, just go long UNG…. tomorrow is the day.
lalalalala
rnanananana
banananananana
http://www.youtube.com/watch?v=bUheZRulEpQ
I like your put basket. Perhaps the basket could also contain some nice un-bearded clams. You may even do well going short-dated, 5-7 percent lower…
Here are some pics of Obama’s riff raff rally. http://www.theblaze.com
More at Shultz’ than the 87,000 (more like 45,000) at Glenn Beck’s rally.
Down we shall go.
Prez get you some dat X3 Dreckcion
It’s either just a case of the Monday’s, or both bulls and bears are stunned at the moment. Nobody has much to say.
I’ll will say, I’ve for the very short term joined the pullback crowd… it will only make the market more healthy.
when i first found this site in may or so last year, the fly’s quote at the top said “i have seen the future..and it has higher stock prices in it.” i thought he was loony as a golden doodle.
*crickets*
This could be an indicator in and of itself. Lesser number of comments = ennui, non-participation or just watching on the sidelines. Traders may not know or are more than average confused on the next leg of market. How does market typically behave in such cases? Anyone wanna guess?
I think you are reading too much into it. Lesser number of comments = more people got fucked up last night. Nothing more, nothing less.
I meant it in half-jest
From the Newsbot work of awesomeness:
Senator Ted Kaufman was selected on Monday to chair the congressional panel overseeing the $700 billion financial sector bailout program — a day after the program officially expired
Now if the program is expired, what the fuck is this asshead going to be overseeing? Oh and they threw in he was another “Wall Street critic”. Bet the big banks are going to be enthralled with this.
RBA didn’t raise rates, BoJ cut…if POMO wasn’t going on Tues and Wed we could have one heck of a sell off.
What the fuck is up with the spam in the PG? Some dipshit has posted about hypnotic weight loss therapy and other bullshit.
Dollar dumping below $78. All stations, all stations…
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Dollar dumping below $78. All stations, all stations…
Dude the US is forcing the two major economies to QE. It has the Japs doing ti and it will have the Euros do so before long.
I wanna borrow at zero % like the banksters – Bernanke is unAmerican. Buy your gold in the new one tonne size.
Looks like you have to go back to the Cheap Seats, Bully Market Rally to Resume!
What happens to exports when every country cuts their rates to zero?
Lowest cost producer wins?
Ricardo’s Law of Comparative Advantage cannot be obscured by fiat currency shennanigans.
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Turnaround Tuesday, indeud.
lol alpha,today feels like head fake tuesday.
Nasdaq new highs outpaced new lows yesterday by slightly more than 2 to 1. That is not a sign of a weak market —-yet.
Why shouldn’t they, with the NASDAQ index 15% above its low for the past year?
Momo anyone?
Non manu ISM # in 5 minutes – survey 52.0 – rumor 55.0
wow, special teams ran amok in the Pats vs. Fins tilt last night
sniper6 positioned for head shots today… line ’em up
I sense a major victory in the offing.
sniper6 buys CHK at $22.50, and ED at $48.25
Love INTU here. It’s gotten lots of love from the analysts recently but sold off the past few days. Good October seasonality to boot.
CVD is an interesting pick too if you need some pharma type exposure. Their latest sales numbers have been cookie monster crazy.
I expect the Fly to wish dishonour (sic) on the heads of the Japanese Central Bankers soon. In related news, “Godzirra” was spotted towing container ships of freshly-printed Yen through Tokyo harbor. Developing…
WTF is with TED today???
IT IS UP almost 30% and the market is acting like a pack of drunken Morris Dancers at a Liberace barbecue…
It’s the “new normal”, or QE2. Take your pick. Unbelievable, but I’ll keep playing with the hand I’ve been dealt, for now.
I hear ya.
If nothing else, I now have a favorite new moniker.
In serious commentary, this is all very much like the years 2003-2007. Stocks went up because of bullshit monetary expansion. Then it was done in darkness through the shadow banking system, and the permabears went apeshit because stocks went up in defiance to their economic and rational models. Now, we have the monetary intervention in broad daylight, and the permabears are still screaming about valuation and rationality. Yet we go up. Or is the currency going down? Some of both, actually.
Get this through your heads: Rationality has NOTHING to do with stocks or economies for that matter. Earnings don’t matter until they do. Debt doesn’t matter until it does. Free bullshit money is coming to town, and you’d better get your bucket ready. One day, we will wake up to the Dow down -500 on the futures because something blows up. Either go home each day in cash, or hedge yourself. But this tape is rising and it won’t stop because of our stupid lines on the chart.
I’ve been fighting the rise for a while because of my bearshitter tendencies. It doesn’t make sense! And that’s exactly why it will continue to go up.
No hecklers or trolls yet? Wow, the Fly IS revered by the denizens of these internets.
Hey anyone have cheese popcorn?
Fly, will you reconsider your strategy? S&P just past 1151 barrier. Now the market will rocket straight to 1175 and a couple more days to 1200. Listen to Scott. Market is doomed to go up only.
Just how many moustache punches to the face can you take?
Shut up and buy stocks….PPT isn’t so great in trending markets.
Shut Up and Sit Down..
well said…. being sitting down on my longs for like 16-24 moths now
Why does it smell like the slope of hope @ ibankcoin ?
Stand Up and Yell Out …. New SPX High …. Wave3 continues as Fly adjusts his portfolio
These waves were “minor” and hence small moves up and down … the next set of waves will be bigger with more extended moves …. the next down wave may be the last chance to sell that TNZ …. I was gonna yesterday and wish I had!
Fly AIB is trading 95.2% under its liquidation value if I’m not mistaken. Triple checked.
There is only one way to reverse this current Stock Market Rally.
I sold all my shorts today and I am now officially all long!
I hope it’s true.. because bull markets do not reverse that fast.
Is currency wars going to be like Whale Wars?
Where the Japanese and the pirates (old people hippies) try to throw acid at each other while the Japanese harpoon whales and the pirates look like idiots?
Nah … get stones and run into each other demolition derby style
ah … “Stoned”
Dr.Fly,
That gold is keep climing… printing press is a big helper..
But what do I know.. I started buying gold at 350, went to 250 adding all the way and here i am at 1330…
Oh well, it is all about sitting… but only if you are a bull.
Worldwide Quantitative Easing sucks Large Cock!
What was it we called it last year? GLORC?
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Let’s go ahead and start shopping for group travel rates to Romania…no fees on luggage please
Fly talk to us! Where the fuck are you!
What was it Senator Blutarski said to the hapless Flounder?
“You fucked up, you trusted us.”
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Jake,
BE NICE
So much for trying to impose your will on the market! Oh, let me guess, the market will come down some day soon. Time for some humble pie, Fly. You heathen sinner, repent I say!
Buylo, be reasonable. Fly didn’t try to impose his will on the market. His analysis is correct, but there are some other unknown forces at play. The Quantitative Easing does not increase liquidity, and the Fed does not print new money via QE2, and so the thesis that QE2 is inflationary is incorrect. However, the market believes in the inflationary thesis. And here, the real question is whether this all is just another bubble, or that the bears don’t fully understand what factors really drive this market.
WTF what do you know what goes on in the brain of Le Fly? Consult the Shadow why dontcha! They cannot and will not let the markets die again in the USA, Europe and Far East. Simple! Happy Thanksgiving and Merry Christmas to everyone!
This all is so Emerald City, with Bernanke playing the Wizard of OZ, and giving away free green glasses to anyone willing to see grey stones in the new green light. However now I know where the alleged inflation is–in the inflated asset prices. The real economy IS and WILL be deflationary!
And black is white!
…Up is down!
… Nancy Pelosi is a free-market fiscal conservative!
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Fly nothing has to say. The enterprise is dead!!!!
Yes, it is. RIP.
STFU.
He’s merely in Romania, inspecting his goats for lice and fleas.
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Relax dude. Maybe he is fucking those goats up the ass. Because that is what he is getting today, and he will not even come out and admit it.
You are right Jake. Fly is a very good trader, and has done very well this year. His aggressive style and way of communicating his thoughts can be over the top sometimes. Not everyone is going to be 100% correct in their calls. And it seems that this might be one of those cases for Fly. Although he has admitted his VX X postion was probably wrong, he is still very stubbornly holding out to his bearish position. I find a lot of value in logging into this website. But lately, I find most of the value from postings from chessNwine. Damn, now that guy is good too, but with a lot less volatility !
Maybe that’s the point.
This market has done it AGAIN to the bears! Last time on the 9/23 close and assfucked on the 9/24 open.
George W. sums it up best:
http://www.youtube.com/watch?v=eKgPY1adc0A
Obama’s “Skills for America’s Future.” initiative: Community colleges will train for McDonald’s and Gap. What a joke.
http://news.yahoo.com/s/ap/20101005/ap_on_re_us/us_jobs_community_colleges
Exactly. Sounded like an Onion piece at first glance.
Check the chart – we are only in the early throws of this move … five up, three down
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987
I need a little roofing work done. Is Horation available?
Yeah, I would agree with all the comments about how Fly is fucked. Because he is. There is no way he will pull out a gain out of his personal accounts at this point. No fucking way. This market may sell off still, but nowhere near the level that would even get Fly to breakeven on his personal accounts with VXX and TZA. He bet the farm on going short which was really stupid instead of just being in cash. And his farm will be confiscated by the Government now. He went short way too early. Why, I have no fucking idea since the PPT is more accurate when things are overold versus overbought. This is a March/April melt up and Fly will see at least a 20% paper loss on his personal accounts before any kind of recovery. And with the big banks and the Government manipulating this market, I would be very cautious about going short. The easy money going short was in May and the subsequent low of 1,010. Doug Kass was right, that was the low. Going short after that is at your own peril. If you are so inclined to think that this market is oeverbought, just stay in cash !!!! Wait for a nice dip, and then go long. That has been the story this year. Look at the 12/31/09 numbers. If you would have bought a 1x or 2x long market ETF, you would be sitting pretty now. End of story.
Only losers pick on a man when he is down.
PS: Kass record on being right is 1 out of 100.
Yeah, but he is down a lot now, and he still would not admit he is wrong. We cannot all be 100% correct, but he is acting that way. We all make mistakes. It is a good thing he does not manage his client’s accounts like he does his personal ones. That is one rollercoaster ride I would not want to be in. Of all the people who post things on this site, chessNwine has been the most rational, level-headed, and non-emotional of everyone these last few months. Now that guy knows how to trade without giving yourself a heartattack in the process. I am not trying to put Fly down. He is mostly right, but sometimes when he is not, he cannot seem to just admit it. Not everyone is 100% correct. Fly, just move on !
hey mike,doug kass is a POS,because he posted at the street.com,and someone posted it @ twitts,”doug kass goes all short”,its posted .and besides,you can hold vxx for ever, i have no faith in this rally,i am long,and short. this is as pretentious as it gets.where are the #’s for organic growth in this country in the last 15 months that represents this bull run?appl cant hold this country up forever.
I agree with you 100%. Really. This markets is so irrational. But depending on when you went short, you have a lot of catching up to do. I am only saying Fly was way too early. He needs a major, major correction at this point to get to breakeven on his VXX and TZA positions.
BTW, I am 100% cash since June. I do not trust this market either long or short. It is too manipulated. I like chessNwine’s analysis the last few months. He has been the most coherent and level-headed of anyone on this site.
Chess is VERY good,i agree.i got into vxx @ 16.66 and 16.73 respectively. we all know that fly got in @ the 20’s.still doesnt mean he wrong. yes i know, being early is viewed just the same as being wrong.but in
the pit of everyones stomach,everyone knows this is a bullshit rally based on some fairy tale.and the last page of this fairy tale hasnt come to be read yet. since when do equities and gold go up at the same time,is what everyone should be asking them selves, too many bullshit type of variables converging.when the s&p hits 1160 this afternoon,i’lll add to some vxx,and round out my holdings.insurance is cheap today,and nothing goes up forever,even in a fake market
Good luck drummerboy. I am on your side and Fly’s even though I may not seem that way. I want this market to sell off big ! I just think the easier trade this year and probably going forward is to wait for nice dips before going long instead of anticipating a sell off. Ride the rally for 10% or so and then cash out. Stay in cash, wait for a sell off, if it happens, and try again. Wash, rinse, and repeat. But it seems the lows are getting higher and the highs are finally starting to break out. I like Fly’s earlier call this year on TLT. That was spot on.
Fly must be in the hospital right now with a heart attack after this rally. A little mercy please….
The market is up today for one reason and one reason only. The Japanese shit the shower, and the dollar is down huge. None of it has anything to do with momentum, optimism, green shoots, or anything of the sort. I wouldn’t start the victory celebrations just yet.
But who cares, if you are on the wrong side of the trade, you are on the wrong side of the trade! However fucked up this market is, as the old saying goes, “the markets can stay irrational longer than you can stay solvent.” So true this year. End of story.
So if someone asks you whether they should buy or sell today, you answer by throwing darts at a stock chart? Regardless of the market’s irrationality you need to make rational decisions going forward. The rational decision, at least today, is to get the fuck out sooner rather than later.
I agree with you. This market the last few months has been almost a daytrader’s market. Fly’s positions in his personal accounts are more than one month old now. With VXX and TZA that is very high risk. It makes no sense. You get into these type of ETF’s for a short term trade, less than a week. If you are wrong, then you are wrong. Then move on and try again.
yea,but that dude has more money……than me anyway.
yes, that is true, and for me too. In the end Fly’s 2010 performance will be better than mine. And better than 99.99% of all money managers. But this Sept/Oct meltup took a nice chunk off his 2010 returns. I still think we will see a sell off in late Oct, and Fly could probably get back at least half of his paper losses. But man, that would have been some scary ride. Perfect timing for Halloween !
i agree with both of you,but instead, the fine brain works at the likes of GS and other trading bourse’s,they would rather trade, and take away an americans’ money,then to trade against the likes of china,to bring back american money. they have bots to steal from us,i want to know WHO has the smarts and the cunning,to win it back. we owe them so much,this country is just too dumb to win it back,instead of paying it back…………..just country has lost its edge on that,and there sure isnt anyone thinking about that as a strategy either.
and besides,if i had that dudes money,a nice wash sale reinforces the bottom line come tax time,so he hasnt lost much of shit,when you think about it.
Yes, so true. Fly’s capital gains this year will far outweight his capital losses if he decides to pull the plug and take a loss on VXX/TZA.