TLT is up $1.4. You can’t short into this tape. You can sell; but to buy inverse ETF’s, following a 250 point decline is stupidity on a very high level. We’ve been down this road before and the end result is always the same: more liquidity.
Granted, things look especially ominous due to the prospect of QE ending. However, as sure as I am sitting here, they will inflate. The choice is simple: suffer deflation and staggering stock market losses. Or, you will pay for a $100 tomato. The choice is really that simple, at least in the near term. Long term, no one knows where the money will come from, maybe outerspace?
For the day, I sold out of CENX, EXK and AKS and added to my WNR. No panic, no fear—just space alien magician shit.
Eagerly waiting for The PPT to hit sub 2.6
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you keep buying WNR, why not spread out into some CCJ. Uranium, the other white meat.
I hate nuclear
I am suprised
Philosphically, or as an investment?
So do the Germans.
If Germany actually phases out all their nuclear power by 2022, I’ll eat go vegan for 3 weeks. It won’t happen.
I have been in CCJ since the Japan earthquake. So far, so good. I didn’t look at the end of the day, but a few hours earlier, it was one of the few things I was holding that was up.
I’ve sold out of all my post quake uranium gains except for hathor. Still holding some of it. They’ll get bought sooner or later.
you got your ass kicked just like youve been getting it kicked for the past 3 weeks.
incredible! – I read and watch and respect…but this time around I am soooooooo surprised.
its called DISTRIBUTION as of March 15th no?
FLY is GOD …but has been spending too much time in his bathroom no?
go fuck your exhaust pipe
I am going to go full retard to the long side when this thing hits oversold.
Maybe it already has.
All praise to the PPT!
Nice! Added some WNR myself.
nice move in VIX
Friday should be interesting job numbers
WNR SUED by PEMEX
A Mexican Company like PEMEX suing WNR is like Gomez Addams (from he Addams Family) going into Court against Perry Mason
you have it completely backwards. but that is not surprising.
Maybe or maybe not.
But Pete Best was a better drummer.
Pemex isn’t “a” Mexican company. It is “the” Mexican company. As in, the only one. Owned by the politicians, for the people. Negative outcomes are not impossible.
WNR DEFEATS TRUMAN
“… and added to my WNR.”
Did you see the urologist or just send away for some pills from Mexico?
Fly, you know I am going to have to go buy a vintage gruen curvex watch just to amuse the heck out of myself…btw I love CNBC right now talking about the spike up in the dollar during the day and asking why did that happen. Yep, market is probably oversold…but darn it was a nice day for us bears.
Did you say that you were going to let friends watch you play with your cervix to amuse yourself? Nice!
Not worth the weak pun.
_______
I agree Jake, lol….Alvari really stretch that puppy for the set up.
True enough, but we all enjoyed it anyways (the imagery that is). … But a green cervix?
lol…Sort of Dr Suess kinda thing.
How are you going to do that since you lost all your money being short since April 2009?
Everything about your “they’re going to inflate” thesis is correct. Try as it may but the market will not be able to price in an assumed sure thing until it’s crystal clear to everyone that another QE is the only way to go.
Cain Thaler is spot on.
http://ibankcoin.com/mr_cain_thaler/2011/06/01/qe3-positioning-should-be-reactionary/
Days like this make me wanna grab that PPT membership. I could have used a little SHOMP based TZA hedge. That algo is gangsta.
50% cash/ 50% long still stings on days like this.
Days like this.
The EEM emerging market sector hasn’t even given back a third of its bounce from last week.
and, twice as many China FXI buyers as sellers today,according to WSJ money flow scan: http://tinyurl.com/3s77pmz .
If Greece and Spain panics weren’t able to stop a strong EEM emerging market bounce last summer, why would they be able to stop one here? They led the last summer squeeze and they’ll lead up here. Most people in “Soviet Brazil-chindia” can’t find Greece on a map. And frankly, why should they need to?
Bangladesh Needs $25 Billion To Tap 14 Tcf Offshore Gas
Dhaka (Reuters) – Bangladesh will require up to $25 billion in investment to tap an estimated 14 trillion cubic feet of natural gas that is possibly available in the country’s offshore but not yet discovered, a senior official of Australia’s Santos International said Monday.
“Bangladesh has the potential to find at least 14 tcf gas from its offshore fields,” said John Chambers, president of Santos in Bangladesh. …
Prediction: Santos drills it, Bangladesh subsides by 1 meter or more, and climate change is blamed for the millions that die during the next hurricane.
Off to plant more tomatoes
Fly, when WNR hits 22 will you buy a watch such as the one seen at 0:17 and wear it around the office asking people if they have the time?
Found the watch on ebay http://cgi.ebay.com/GRUEN-14K-Solid-Gold-Art-Deco-Vintage-Curvex-Watch-RARE-/130525892378?pt=UK_Jewelery_Watches_Watches_MensWatches_GL&hash=item1e63f30f1a#ht_10907wt_905
Holy shit!
Look at the September UUP calls. No way those guys are selling premium.
http://www.optionmonster.com/quotes/?symbol=UUP
A strong dollar overnight portends another stock market bloodbath tomorrow. September–can’t even imagine.
god meek’s voice is fucking annoying
“As predicted, the market went up today, as you pussies sold out near the lows”….. wishing you one of those “pussies” ???
You bearshitters come out of the woodworks whenever the market drops. Assholes.
Where is John. You called this decline yesterday. Congrats!
STFU
I have been making more money on blackjAck than this market.
Fucking excellent horn blow! Mega Merci Sarg.!
whats with the rap sh*t…. is that a joke
re TLT
55% of negative distribution (adjusted for volume and market cap) of stocks I am screening occurred in Basic Materials and Service sector. Money is flowing out of the sector, not in.
30% of all negative distribution came out of basic materials. Money is leaving Energy.
The sample size is strictly from my stock list and may not be indicative of the entire market. However it is making me stay away from the entire sector. When the hot sector goes decidedly cold, you need to watch your step with great care. Fear has not hit the markets yet and buying any dip is a dubious venture at best.
Here’s a link of a cut of the data:
http://imgur.com/lwpiy
Shut up
Will do. This is your site and I do not intended to incite ill-will. I enjoy the content and will continue to read your blog.
Best of luck.
John, come over to Clearstation COMP board and post your articles there, if you decide to shut up here. A lot of people post articles there.
BTW, sometimes Fly tells people to STFU and then the next day he is fine with them. Depends on what they say, I guess.
Yeah.
Don’t take it personally.
It just means Fly cares, unless he bans you.
ROFL…….
I see a few members short inside the PPT where everyone posts realtime, win or lose.
All of Fly’s own bloggers here post their trades real time.
How can some of you plebes pat “John” on the back for a call he made yesterday, and yet, when asked how he is positioned in the market, last time I checked, there was no reply.
If you are going to make a market “call” please post how you’re playing your call.
John is God!!!
What about Matthew, Mark, and Luke?
Hey, it’s not like John posted that he made a ton of money short like some folks do after the fact.
However, I like to see OPI – Other People’s Ideas – and the strategies that may accompany the way they they are positioned in the market.
I am flat. In cash. I’m horrible at shorting. Never had a knack for it. I put on a short of basic materials today, I posted it somewhere a couple of blog posts back. My posting is more for my edification than anything else. It keeps me mentally engaged with the markets.
I also keep a trading journal and write out my thoughts in paper. Best thing I ever did with trading was put down my thoughts. I am not here to make market calls. I am here to write out my thoughts–the physical act of typing helps focus the mind. I’ve stated before that historically my trades are more often wrong than right. But when I am right, I want to have good size on.
Since somehow my posting has evolved into a nuisance, I will stop. I came here for Fly’s Blog which I thought was market commentary with a unique tone to it.
the above should read:
good market commentary with unique tone.
John, come post your articles and such on the COMPX board at
http://clearstation.etrade.com/
Also see above comments by me & Trader Caddy re: how STFU is only a temporary thing with Fly, unless he bans you. If he doesn’t ban you, he is OK with you being here. He just doesn’t like the last comment you said.
I try to learn from Fly and everyone else on the site who I can learn from too. John stated before that he was going more into cash yesterday. Cash is a position.
I found the Tischendorf web site interesting also. I would also like to know how negative distribution statistics are calculated and where one can find them or how one can calculate them for oneself.
Martin Armstrong is interesting, although I don’t know that he’s that useful for trading, more for economics. Here is his site:
http://www.martinarmstrong.org/economic_projections.htm
His projections sometimes work but sometimes they are many months off.
“John stated before that he was going more into cash yesterday”
Rule #1 Always listen to “John”
Rule #2 Refer to Rule #1
I listen to everyone to see what I might learn. You have some problem with that?
It’s time to do the Hugh!
This just in……….for your reading pleasure. Apparently, there is no gold in Fort Knox. It has all been sold on the advice of Ron Paul.
Sorry for the long link and I do hope it works, it’s very entertaining especially considering the source.
http://translate.google.com/translate?hl=en&sl=el&u=http://iraklio-crete.blogspot.com/2011/06/russia-says-straus-hahn-jailed-for.html&ei=g8HmTbXVNafq0gH7psmZCw&sa=X&oi=translate&ct=result&resnum=1&ved=0CB8Q7gEwAA&prev=/search%3Fq%3Dhttp://iraklio-crete.blogspot.com/2011/06/russia-says-straus-hahn-jailed-for.html%26hl%3Den%26client%3Dfirefox-a%26hs%3DPRa%26rls%3Dorg.mozilla:en-US:official%26channel%3Dnp%26prmd%3Divns
i read that a few days back….. pretty ominous,if you ask me. or how about when it was tested,the bars were drilled into,only to find tungsten……..if enough of chindia keeps believing putins bullshit tactic, along with the story of qadaffi taking his country back to the gold standard,than maybe china might excelerate disposing of their dollar holdings. and why would ron paul advocate selling gold,is he nuts?