The road trip went well. I implanted some memories in the heads of the little ones, spent thousands of dollars on whimsical items for Mrs. Fly and fulfilled my inner curiosity delving through the archives at Constitution Hall. While digging through the DAR library, I had the opportunity to look though old directories, Brooklyn, circa 1912. I saw my Great Grandfather’s advertisement in it, dating back to 1912. How cool is that? I highly recommend visiting if you are ever in DC.
Despite being 50% cash, I was up almost 2% today, led by just about everything. It’s truly awesome and amazing seeing this magnificent squeeze roll. Most called it exactly wrong. Let it be known, I did not call the rally right. I called it EXACTLY right. Had you followed my footsteps with precision, you made yourself an extreme amount of coin inside of 2 weeks. Although the market can go higher, led by Johnny come Latelys, I am cautious here. Keep in mind, should we get bad economic numbers again, we are heading right back down to 12,000. This is the upper part of the trading range. You should be treading with caution here.
I will likely sell out of some more positions soon. I started pretty big ones in AXU and MWW. And in my personal, I like my chances with PSUN down here. However, barring a pullback, with a 14.5% YTD return, I will have a hard time justifying full investment here. As a matter of fact, I emphatically believe TLT will be the trade for August. We will discuss that when the time is appropriate.
For now, you should all rejoice in my splendour and celebrate the great many wins of “The Fly.” If you curry such a thing, summon great whores to your domain or drink profusely until you can’t feel your face. One way or another, I demand personal sacrifice as tribute to my winship. Failure to do so will result in the immediate removal of any and all unseemly facial hairs, by iron fist.
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Must’ve been an awesome discovery
There is no way you can “Call” TLT as being the play for August when it is clearly written in PPT seasonality upon researching TLT that TLT is up an average of 3.59 percent 100% in each of the 9 Augusts that data was tracked. I suppose you are allowed to plagiarize your own invention.
WTF .. how old are you anyway 18, or is that your IQ?
you remind me of those kids in school who always put their arms up grunting “OH OH OH me me me” trying get some face time.
and is it plagiarizing if its your own work in the first place?!? get real
Addendum: I happened to look that info up on TLT last week and even gave you credit, lol, as you had mentioned in a blog that you were thinking about parking your cash in TLT.
flyaway18
@raoul_duke I’m long TBT but seasonality favors TLT in Aug. according to Fly’s PPT, up an average of 3.59 percent. Might be dif. this Aug.
Jul. 1 at 11:45 AM
That’s kewl Fly. Life’s short, good on ya.
Indy New Age-Wave, good tunes too.
TLT is code for TNT to the upside.
Why do you have a Chairman Mao avatar?
__________
secretly he wants to be a dick-tator
B/c people worship idols, I’m perversely ironic. I’m sure it’s deviant in nature. I’ll change it either 3rd quarter or 2012. I was Argentina’s Jesus before.
Like Darla ?
i enjoyed the descriptions of the cities visited, i found them reasonably accurate and highly entertaining.
I also want to stop by to say, not just to fly, but to all IBCers, congratulations on WNR approaching $20, and congratulations on ocntinuing to have what must be the best traders blog site extant. I get the hugest kick out of it, and I enjoy it when you guys do well.
my previous favorite “fly” blog line was “clown raped”, but it has been replaced by the threat to one day donate all of mrs fly’s worldly possessions to charity whilst she showers. lol
Don’t forget to delouse yourself after returning from DC.
Seeyou in August, brother.
I think it’s premature to call this the top of the range. The market has totally shrugged off the end of QE 2 (and welcomed the reality of perpetual QE or QE 2.5) and seems ready for some multiple expansion and new highs.
This is still the perfect environment to stay long, I’d need to see rate tightening or a major default before I’ll consider shorting the averages again.
Why would the trend of bailouts and money printing end now?
Still long XIV (sold some to raise cash) and SLV calls.
Wow, that’s what I call a “switch from pallor” there, Mr. 2x.
___________
Made money on the way down and on the way up for this run (less than I hoped on my dollar trade), I’m not always so lucky.
XIV has been the focus of my attention recently.
In the meantime, it looks like everything in the PM universe is at least slightly to mostly overbought. This should mean opportunity in the very near term though:
Just say the word, and you’ll know.
______
OEW Daily Recap:
“We’re counting SPX 1341 as Minute wave iii, and 1331 as Minute wave iv, of Minor wave 3. The rally back to SPX 1341 1:00 yesterday probably completed Nano wave 1, and the drop to 1336 Nano wave 2. The gap up today should be Nano wave 3, and Nano wave 4 could be underway now. Nano wave 5 is yet to come to end Minor wave 3. We’re estimating Minor wave 3 will end around the bull market highs: SPX 1371, (note we barely hit the OEW 1363 pivot range at today’s high). Then a more substantial pullback for Minor wave 4, i.e. 15-20 SPX points. This should be followed by a gradual climb to around the OEW 1440 pivot to end minor wave 5 and the uptrend.”
Staying all in (120%) for awhile longer ….
I, for one, curry le Fleas many splendiforous wins. 😮
You know, when you start gloating, you are about to get your ass handed to you. By the time the market opens, you are going to have all your gains from last Thursday wiped out.
Pigs get slaughtered. Check thyself.
To the two idiots who put a thumbs down, your just as stupid as a brick. This market is heading into the toilet and by the open, its going to be a massacre. Sell to save your ass or have a very bad day.
Just trying to save someone’s butt.
You aren’t paying attention. Fly has been raising cash.
It’s time to go shopping now that the job’s report is in!
European markets seem to be holding on to their gains!
I take that back!
Not the end of the world, but we are giving back 200 in a hurry today. Just plain common sense to give back the gains that were on false pretenses. Then fear takes over.
We are NOT worthy of Herr Fly!
Fly! Is this buy the dip?
just bought some more WNR………
can ya feel me now? i missed all of yesterday , but will make hey today, 100% cash yesterday in 1 acc. left me out of the fun,,, tza
All that stimulus doesn’t seem to be creating many jobs.
Just bought WNR yesterday and was thinking this morning that I made a mistake. Sure am glad I diidn’t “panic sell”. These crack spreads are awesome.
Learning this song on my guitar.
WNR is getting ready to roll…(over $20)
3rd Mar Div in Hue City.
http://www.youtube.com/watch?v=KQEDojPZ7YI
Hey Fly,
You should try this remix, http://www.youtube.com/watch?v=7UPzJRX6OPY