Year to date, my personal/aggressive account is up 36.4%. Following a staggering 875% return in 2010, “The Fly” is somewhat comfortable with his position. You might ponder, as any normal person would, “how the fuck is that possible?” The answer lies within a superior IQ and much greater set of balls on my person, compared to yours. Last year I made over 250% in FTK alone. This year, my WNR is leveraged to the max, fucking everything in its path. I told you this would happen, as I am performing great feats of magical spectaculars right in front of your very eyes. I have nothing to hide, other than who I am.
Into the bell, I bought some CY and I slapped three homeless men in the face with hot slices of pizza. They thanked me for the donation of warm food.
Enjoy your holiday and be sure to watch for God’s son coming back from the dead. For this time, as I understand it, he is interested in killing off all sinners, before the Romans chase him off with stale Italian bread.
[youtube:http://www.youtube.com/watch?v=SdaYXIuEebs&feature=related 616 500]
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Blasphemous, but funny.
Oh yeah – fucking first bitches…..happy holiday Fly.
thanks again for a WNR among the temporary blood bath …
Have a Happy Easter Fly Man!
after riding it from 19.50 to 16.88, this time I bailed at 18.00, hoping to get back in cheaper. Looks like its not going to cooperate. That’s what happens with “scared money”.
You call yourself a Texan? From my vantage point, you’re a Mexican coward!
Real Texans are “Earl” men
I’m a real texan. I bought it all the way down and I will hold it until 35
Fly have a nice Holiday.
High Five man you deserve it… seen you working going on many years now!
I’m using my $WNR as an ATM machine just sold today +10% 4th +sell … sold $GS +1.5 % sold $YUM +6%
$RGLD +20% lot of wins in the Kingdom..your giving us home gamers a chance. Go ahead and tag my paypal for next go around. 🙂
FTK: With your 2 million shares from 2009 you should be able to buy Paul Allen’s used yacht.
Paul Allen went to London, unannounced.
damn, Paul didn’t check with you first?
Fly:
You best be gettin’ on the other side of this :
Rev 19:10-18
For the testimony of Jesus is the spirit of prophecy.” I saw heaven standing open and there before me was a white horse, whose rider is called Faithful and True. With justice he judges and makes war. His eyes are like blazing fire, and on his head are many crowns. He has a name written on him that no one knows but he himself. He is dressed in a robe dipped in blood, and his name is the Word of God. The armies of heaven were following him, riding on white horses and dressed in fine linen, white and clean. Out of his mouth comes a sharp sword with which to strike down the nations. “He will rule them with an iron scepter.” He treads the winepress of the fury of the wrath of God Almighty. On his robe and on his thigh he has this name written: KING OF KINGS AND LORD OF LORDS. And I saw an angel standing in the sun, who cried in a loud voice to all the birds flying in midair, “Come, gather together for the great supper of God, so that you may eat the flesh of kings, generals, and mighty men, of horses and their riders, and the flesh of all people, free and slave, small and great.”
NIV
I’m not sure what you’re on about. The Fly’s offspring ridin’ ’round on an horse while vomitin’ swords is no basis for a system of theology. Supreme executive winship derives directly from The Fly’s trading account, not some farcical Internet message board. I mean, if I went around sayin I was bein’ bullied just ‘cuz my next-door neighbor had puked a scimitar at me, they’d put me away!
(And what have the Italians done for the solar sector this year anyway, huh?)
It doesn’t seem very believable to me.
haha, got a news flash for you my brother. god is not real. zeus is god, did you not read the illiad?
What does “leveraged” mean in trading terms?
275%
So borrowing money to fund stock purchases.
Just transferring it from the future to the present, via Time Machine Magic
LOL
How do you violate the margin rules and get away with it?
He’s not retail.
I don’t see where THAT makes any difference for a personal account.
If he has an account with a prime broker, he can do whatever the hell he wants to as long as they let him. He could post zero margin if he could get them to agree to it. There is one set of rules for the proles, and one set of rules for those on the inside.
Speaking for myself only, maybe my example could help .
I know a lot of people are touchy on the leverage subject , Imho if your a full time trader leverage is fine as long as you educated on proper risk management, if your a investor with a day job you might want to stick with a popular TV retail account and not use or seek much leverage if any at all.
First I’m not a licensed broker , but I worked with a trading firm for a while having my own account through them using my own money very similar as if I opened a account with say Zecco or Etrade .
All traders were started with 10-1 buying power for day trades and 4-1 for overnight holdings(where as one holding can be no more then 25% of acct value). Some using their own money(in a insured account no different from a Etrade) and others worked for the firm with the firms money.
The very inexperienced traders and young bucks did have to be trained first even if using their own money to trade through the firm in a regular account. All accounts were monitored very closely by at least one risk management person and if you slipped and went in a call we shut em down and closed them out quick.
Depending on the traders experiences some started with higher leverage then that and some worked there way up for example to 30-1 leverage for day trades and 10-1 for overnight holdings (were one holing can be no more then 10% of account) some even higher then that for day trading .
Personally I have never used more then 2-1 for overnight anyway ,
with day trading that’s a different story.
Even on your own not knowing anybody in the business you can find a trading firm that you can open your own account through.
For extending you the leverage for example 10-1 /4-1 ,they most likely will get a commission on your profits ranging from 10-25% and no commission if you lose money .
The only thing is the risk management department will probably want to train first , it’s no big deal and not as hard as one would think . I helped trained some real morons that are decent traders now.
Then you can get the same leverage and very low share pricing as a lot of people think only the big firms and their traders have.
The drawbacks are commission on profits for extending you the high leverage if you do good the commission doesn’t matter in my opinion, having to be trained which is actually a good thing, and the high risk that comes along with using high leverage .
Two ways to get more leverage is through a prime broker or joining a trading firm.
I don’t suggest either one of these it’s not for most people, but if your experienced enough with a good track record (not just in a bull market mind you) and want to just trade for a living it’s something to look into.
@inandout- thanks for the info
Your welcome boitches…
Fly,
What is the balance of your “fuck you account”?
1.32 mil
Did you not pay taxes this year?
_________
Glenn Beck is such a fuckin’ idiot, He is complaining about dollar devaluation,
the dollar value dropping recently to 79 xents. So Dumfuck Beck holds up
$10 grand in money, takes 2 grand out, and says “This is what they did to you”
Why didn’t the stupid bastard hold up $200,000 (symbolizing your mortgage),
take out $20,000, and say “this is what they have SAVED you”?
Inflation is the FRIEND of the middle and lower incomes,
whose balance sheets are mostly DEBT – mortgages, car loans,
credit card balances. Their only big asset is their house.
With a $100K house and $80K mortgage, a doubling of prices
raises the homeowner’s equity from from $20K to $120K, a 6x
increase, and makes the monthly payment HALF as painful.
The retireds have their SS indexed. Our tax brackets are
indexed. Look back at 1977-80 and you will see you got your
greatest salary increases- 10 to 15% a year. The inflation
went away, the EFFECT of your higher salary continues.
Inflation hurts ONLY the wealthy bondholders. It cuts down
the real value of federal and personal debt and mortgages.
Inflation is the FRIEND of the common man.
Are you on Mushrooms or is LSD making a comeback in your life?
You are absolutely wrong. Here’s why: https://readtheprospectus.wordpress.com/2009/06/10/inflation-deflation-and-wealth-redistribution/
The “poor” don’t own any assets–just devaluing relatively fixed cash flows. Housing prices are still in the toilet, and they don’t have any equity anyway because they are upside down on the note. That wealth effect is gone for a generation at least.
I dunno… minimum wage is minimum wage. If gas and food become more costly I think it has to hurt.
it wont. on both items
When wages are rising with inflation that’s true.
The problem is wages are flat which means the common man is getting fucked.
Inflation is a giant tax on the American people when wages don’t move in tandem with it.
Not so fast. Asset appreciation, coupled with stagnant wage growth does not help the poor. The only effect the dollar has is euro vacations
Why doesn’t asset appreciation help the poor, even with ZERO wage growth?
Say they have an asset worth $100K and a debt of $80K. Net worth $20K.
The asset appreciates 100% so it becomes worth $200K. Their debt stays at
$80K and they now have $120K in equity, net plus $100K.
They quintupled their net worth because of inflation, even though they still
make the same $8 bucks an hour.
You forget that most of these homeowners have a house worth $100k and a debt of $180k. Why do you think foreclosures are through the roof? Almost everyone is upside down unless they have been in their home for decades. The only “asset” the poor own is a home, and that is not going to see 100% appreciation any time soon.
Why are you singling out a house? Maybe the asset is FARM LAND, or a coin collection.
Or some inherited stock. BTW: Your argument was totally invalid in the time frame
1945-2008.
1. Who owns a farm that is poor? Who owns land that is poor? Who owns inherited stock that is poor? What world do you live in?
2. Wages are flat, prices are up since roughly the 1980’s. And it’s not 1945-2008 anymore. Like I said.
As the Fly says, be well. Or not.
Either you are being facetious to make a point or you are a moron. Housing as an asset is declining in value. That is the only asset the average joe has; and even then, he doesn’t own it, but has some equity in it (a few missed payments and he is toast). People on fixed incomes are getting fucked up the ass sideways. Inflation adjusted incomes are negative.
Everyone is going to get a haircut. If you are rich and lose 20 to 30%, you are still rich. If you are in the bottom %50 and lose 20 to %30 of your purchasing power you are screwed.
You are the moron. You are using an EXCEPTIONAL time (the last 2 1/2 years)
to refute a premise that has existed for well over fifty years:
The value of non-consumed assets, whether houses, land, art, coin collections,
and wages will rise with inflation. You also ignore the fact that things like Social Security
are indexed to inflation; and that the source of significant income for seniors
and those who have saved all their lives – CD returns – increase with inflation.
I repeat: INFLATION IS THE FRIEND OF THE COMMON MAN.
Don’t forget about interest rates in your silly argument. Is the revolution in Arab land because they want more inflation?
You are seriously misguided with your “inflation is the friend of the poor and middle class” theory. I have not the time or inclination to explain it to you. Just know that history does not agree with you. Ask anyone from the Weimar Republic of Zimbabwe.
Agreud.
Inflation is a weapon weilded by feudal lords like a morning star amongst the peasantry.
_________________
Yes, if we had housing inflation still, that would be so. But we don’t. Tons of people owe more on their houses than they are worth now. We have food inflation which hurts the poor, and stock inflation which doesn’t affect the poor because they don’t own stocks. Are you a person who came here into the present in a time machine from the housing bubble days?
My post was in reply to RiggedGame above.
Riggedgame- it does not matter what the market price is if the mortgage cannot be paid because it is necessary to eat and stay warm. And further down the road, cash poor buyers may not be able to pay or finance the inflated dollar price of houses or land.
Wages may not keep pace with asset price inflation. Does anyone seriously believe someone making 60K will see their salary increased to 120K with the same ease as the dollar price increase of physical things?
Ten dollar tomatoes and fifteen dollar gallons of milk will make it difficult for existing home and land owners to pay mortgages and they will lose “their” assets long before someone pays the new inflated market price or their wages catch up. Does anyone seriously believe someone making 60K a year now will see their salary increased to 120K with the same ease as the dollar price of physical things?
My view:
The next stage in the decimation of the middle class will be the conversion of millions more homeowners to permanent renters as inflation drives them to poverty and foreclosure.
I think eventually 100 million Americans will be paying rent to Wells Fargo, Bank of America, Chase, etc. Those banks will then inform the States that unless property taxes of bank owned homes are reduced; managed State pension funds and investments may face “market uncertainty”.
I am not doom and gloom, but you need to make certain your physical assets are paid for, because future economic gyrations and malevolence are assured.
Finally I have been nailed by the No Edit Button. LOL
One of those “assets” is food/gas. Tell me how Joe Welfare eats dinner in 3 years.
Joey Bag-o-Food-Stamps can drink his own piss
One minor detail is your scenario……….
Assume said HO owing 80K on his house able to make his mortgage payment as long as conditions remain the same. i.e.,he makes enough money to buy his food, his gas, take the fam out to eat once in a while, tires for the car cost the same etc etc. Assume he can do that and have about $50 a week left over to put in his savings acct.
Now what happens to the poor wretch when all of a sudden the weekly grocery bill is $40 more, his utility bill goes up 10% and gas costs $30 every time he fills up.???? Now that $50 surplus per week is on the other side of the lilne by about the same amount.. He is cash flow negative with nowhere to go and nothing to do except hope for prices to fall back in line. If that doesn’t happen, things start going on the credit card and not getting paid off each month. The fact that his house might be worth $140-150,000 now doesn’t mean shit to the guy because he can’t pay his bills.
The only way it (inflation) helps him out is if he can unload his house to pay his bills and get into something that used to cost $60K for about $80 now (due to Bernank caused inflation). So he is on top again except for the mortgage and living in a shittier house than he was last year at this time.
How did they accumulate a $100k asset on 8 bucks an hour?
The same way the snotnose richie riches did. Inherited it from Daddy.
As if we needed further evidence…
________
Inflation is definitely not good for the poor.
You are a slow learner. Inflation DECREASES the true value of their debts;
Social Security is indexed to inflation; CD rates go up with higher interest rates,
and if we slapped my a 110% tax on all AGI above $250K, the richie
riches would have no choice except to increase my garbage man’s wages.
Like what happened under Jimmy Carter and 2 years of Regan.
Maroon.
They change the metrics that inflation is measured by at will.
The are encouraging inflation specifically for the benefit of the poor. It improves the competitiveness of our exports, which encourages manufacturing job creation. It reduces the value of debt, which most helps those in debt.
Inflation most harms those with assets. The wealthier you are, the more assets you have, the more you are “eaten alive” by inflation. It is very difficult to avoid this effect because, even if you invest in assets that “keep pace” with inflation, the government then taxes your gains so you net out behind where you were in the first place.
Huggie- I think inflation protects the buying power of the dollars that bought the assets. Market value price inflation is a wonderful thing if you own an asset.
But….the poor have more debt than ownership equity, on assets that are largely illiquid and/or have degraded resale value. They are devastated by inflation because they cannot cover debt service or sell the asset quickly. The poor have a house that will be difficult to sell and it is full of consumer junk bought on credit.
The wealthy are more likely to have cash flow, diversified assets, a larger percentage of liquid assets and substantial equity in their assets.
The wealthy will come out OK, but the poor get blown out of their assets by inflation.
My marketing friends tell me lower income people spend a much larger percentage of their income on things needed to survive. These consumer disposables are advertising driven and probably on the leading edge of price inflation.
Inflation is a way to pay the national debt in cheaper dollars. Financiers can manage it, hedge funds can win both ways with debt and equities that benefit from inflation. The little guy doesn’t know what’s happening so he takes it in the shorts. Raise taxes on the rich, but inflation really is a hidden tax on the poor and working poor. Government types can justify high levels of public spending and deficits by inflating the dollar. Then Mexican immigrants come in here and undercut them (low skilled workers) on wage rates. They lose all the way around with the Dems, who are supposedly representing them.
@Inflationary: You would know!
LMAO
Fly,
Are your fuck you acct plays based mostly on strats based on your seasonality data?
Not seasonal. It is based upon my trading acumen, using The PPT
Going on vacation Saturday for a week, WNR is all I hold. Wait, that came out wrong! Ouch, so did that! I meant my only position is WNR going into earnings.
You forgot the y in yearnings
Keep it comin!!!
I love govtment Chessee!!!!!!!!
http://www.foxbusiness.com/markets/2011/04/20/government-cash-handouts-exceed-tax-revenues/?cmpid=cmty_fb_Gigya_Government_Cash_Handouts_Now_Top_Tax_Revenues
Fuck – what was that !!
Inflation helps no one in the long run. No nation has devalued its currency into prosperity. Economics works like several people sitting in a small boat – no one can move without rocking the boat and affecting the others. Bernanke cannot manage the economy and it is not the job of the Fed. Marc Faber says the dollar is going to zero – he is I think a little anti-American but I think that he knows better than Bernanke.
You are DEAD WRONG. Inflation during the Carter years and the first two Reagan years
helped me. I was in about the 35th percentile of income. A very “common man”.
In six years my wage income TRIPLED, the inflation went away, but my pay increases
stuck and were the basis of my future merit raises.
I bought 40-year discounted Government bonds for 2.5% of face value. I sold them in
1992 at 110% of face value. My $5000 investment turned into $200,000+.
Learn ONE lesson, you misinformed inflation-fearing DIMWITS: When double digit
inflation comes, BUY Treasury and AAA utility BONDS at double digit returns.
In a few years you will say “Some guy on the internet told me to do this,
because inflation was my friend. I thought he was nuts – but his arguments proved
that I was STUPID and he was 100% right!”
You do realize that most people, especially the POOR, do not have the capital to purchase those instruments? You do realize to combat that inflation the Fed has to raise rates? Wages will not increase as fast as your HELOC’s interest rate. The cost to borrow money will go through the roof. Sorry, the poor will not win in the long run.
Why are you emphasizing “poor”? Some dipshit put this into this chain,
when I had previously stated “INFLATION HELPS THE COMMON MAN”.
The “poor” get enough fuckin’ help via government handouts.
When I bought $200,000 worth of Government bonds for $5000,
that was half of my savings. Me- a COMMON MAN at that point.
I had a FIXED RATE MORTGAGE – like anyone with a fuckin’ brain had.
Anybody who does a Helioc is a moron who deserves the poor house.
The common man is what I would consider the middle class. Inflation will hurt if not shackle the middle class. Now, I wasn’t old enough to have appreciated the inflationary issues of the late 70’s or early 80’s but my family at the time will say that it wasn’t pretty. The cost to borrow was exorbitant due to what had to be done to control inflation. Maybe it was more mental than anything else but it still had an effect. We have inflation today because the Fed is so fearful that we will end up in a deflationary environment. Food prices, oil, etc. They are rising and that is not good for the common man or the poor. I do not see wages increasing at the same rate. It’s just hard for me to accept that inflation is positive. BTW, good discussion.
You are an anecdotal story. An ounce of gold would buy a first class Colt revolver in 1875 and the same is true today. The cost in dollars is another story. If you like inflation, you should have been living in Zimbabwe or Argentina. Inflation means the masses have to run faster and faster on the treadmill to just remain in place. People like Bernanke and Geithner focus on one factor in the economy and ignore the other consequences. They want a lower dollar while lying about it and the lower dollar means higher prices for oil and other imports. Bernanke said that the sub-prime mortgage problem would be contained but now he wants you to believe that he will nip inflation before it gets out of control.
I LOVE inflation, and I am happy with the good old USA. Which is A-OK
except for the richie-rich coupon-clippiing heirs, worthless overpaid CEO’s,
public-raping doctors, lawyers, bankers, brokers, developers and athletes.
ALL of whom should have their ass taxed at 110% on every dime of income above $250K.
Your pal Obama made $1.7 mill down from the previous year. He lives like a king at taxpayer expense. The free mansion and transportation and food and body guards are not small change and his retirement will be pretty expensive too. He could have paid more in taxes but the tax lover refused and social security and medicare are for the little people – not for him or Pelosi or Reid or Schumer. Obama is a liar and phony like most of the demorat party.
He’s not “my pal” Obama. Obama is a fuckin’ REPUBLICAN who starts wars, doesn’t end two LOSING wars, passes Tax cuts for the Rich and refuses to cut Medicare Advantage.
The Republicans can keep the worthless bastard.
Is there anything you do like or don’t think is rigged? I sense so much anger.
He’s a fool.
__________
Ironically, the rigged guy didn’t make his money from price inflation. He made it from the shift into disinflation. Per his own anecdote.
I like SYMX. Try it and make a buck,
Found some software out that allows me to backtest and custom filter for stocks. Stockfetcher. Very interesting to work out ROI during bull and bear markets on trading ideas. It has increased my batting average. I’m dont have anything to do with the company ..just noted that I rarely see anyone comment on custom filters and backtesting software.
You should check out Woodshedder’s tab. He does a lot of that kind of stuff.
Today is good Friday.
Christ died today.
What does the cross mean to you….
As they beat And strung him on the cross…in the process he said that they don’t know what they are doing…what would I have done? I would have fought back.. I would have blamed judas for ratting me out.. Jesus did not blame.. When we blame someone.. The emotions like anger,hate, bitterness
Takes root. Maybe that’s why there is such a thing as forgiveness. We sent this man to the cross, but yet he didn’t blame me, he forgave me. Even though his body was broken he did not hate, the verse that comes to mind is. while we were yet sinners christ died for you and me.
I love Christianity. I am a Christian by birth and heritage. I love the Christian-Judeo and Islam lineage. However, I do not believe this mythology as anything other than symbolic. Which is a wonderful thing.
Christ died today.
Really, that’s terrible news. I didn’t even know he was sick.
Classic below. Will this be the bulls when Ben announces the ending of QE2 on Tuesday????
http://www.collegehumor.com/video/6477219/remix-e-trade-baby-loses-everything
Let the fun begin: http://www.energydigital.com/sectors/mining-and-aggregates/coal-gasoline-close-reality
And Happy Easter to you Fly,……lol……Lent ends, So I get to go back watching the Early European Session, yeah! ……So, Our US Dollar is suffering a painful death going thru our 2009 lows and heading towards it’s 2008 low. I still have faith that our Dollar and this Country will be saved, we will see. For Friday the Shanghai Comp sold off when China Govt announced Bank Stress Test based on worse case senerio of a 50% drop in Home Values……………………………….OH, and off topic, I got my two tops from Dixie Chick Natalie ala Ebay. I noticed she hasn’t put up anymore stuff since that last auction. OMG I got one of the tops at opening bid price cuz she had a typo in the designer name. What is so cool is that I FIT perfect in them. She is about 3 inches shorter but REALLY wore her tops long, I never noticed that before. Market may suck, but this Bear is no longer Bare…Congrats Fly on your massive winship.
Certain data points appear missing in the report on sizing and fitting. Another time. If the TN is happy the world is happy. Happy Easter to the Barely Bare Bear and other bloggers stuck on the Flypaper.
Thank you ruggyup..the world is happy.