I sold a plethora of stocks and will not look back. I’ve decided it’s too risky to wait and see if the Europeans can get their shit together over the weekend. Therefore, I went to a 70% cash position. The losses are in the millions, wiping out all of my gains year to date. But that’s okay.
With a clean slate and safe bank account, I intend to rally around three names: WNR, DECK and EMN. The story for WNR is alive and well and it makes no sense seeing the stock trade at such low valuations. I loved it at $19, I am fucking possessed with it at $14.
I am buying more and in size.
UPDATE: I bought size in EMN and WNR. Cash down to 40%.
UPDATE: I bought a shitload of DECK. Cash down to 30%.
If you enjoy the content at iBankCoin, please follow us on Twitter
You are even. Be thankful for that.
Dicksuckers are everywhere
now that’s gay to the fullest milk titty
While you’re at it, feel free to place a call to the CFO and kindly rip him a new unhedged asshole. Yes, do that for me. Your megaphone is much louder than my tin cans and string.
Right now, stock selection does not matter…if the market rallies,everything rallies, if the market falls, everything falls.
Fuck me volatility… was that our washout?? Held my SSO and DDM through this morning.. hoping against all hope that the EuroTards can hash out some semblance of a plan to get their shit in order.
All else rests on them forgetting how lazy and useless they usually are.
sorry to hear that fly.
Interesting what came out of the ECB just what I read now. IT looks like Trichet’s comments yesterday were a play to get Italy to work harder on getting a plan up and going. IT sounds like they will arrange some deal for Shittaly to make other tough reforms this weekend and they will announce some plan at the same time to buy their bonds at the same time.
Balanced Budget Amendments in Italy – aka The Tea Party European Vacaton…starring Chevy Chase.
An old Fly classic!
http://www.youtube.com/watch?v=ytc0U2WAz4s
this is great. i feel like it’s 2008 all over again.
No one is immune from the markets mind-fucked gyrations. Keep your eye on BAC the next few weeks…LOW also at great valuation.
Some politician in a back room just said “uncle” and capitulated to their demands.
Smells like more free money. 40 S&P points in less than an hour looks like amateur hour. At least try to make it look like a market and not two computers round tripping and setting price.
They should investigate who is making all the loot on the options, there we should find the manipulators.
Fly, if you have yet AGAIN changed your opinion of the market (for the fifth time in 2 days)
you should be buying something leveraged like TNA, not individual strocks.
This is nuts. Just trying to minimize risk ,while not missing out. Hard act.
I don’t know y u would do such a thing.
Can you say capit capitu capitula capitulation?
Fly, you mention rallying on 3 names, yet only mention 2.
DECK is the third.
I don’t even believe these intraday swings. Brutal.
I know. It’s fucking outrageous. Fucking daytraders, algos, program traders, and the ilk. I like when stocks go on sale, but not for 30 minute windows.
Fly is a river boat gambler …. Woo Hoo, put it all on black!
REMX rare earth sector making a nice double bottom on the daily chart.
Should go up with the coming MINIMUM 20% rally in EEM emerging markets. Certainly looks safer than buying GLD up here.
it is now gambling plain and simple. don’t wait for the eurotards to get their shit together because there is no shit to get together
You’ve relapsed on the bean, haven’t you?
QE1 for Europe indeud!
FLY, thoughts on GSVC? you sold?
Didnt sell.
Ok…i get it….I am humbled to my core. Looking forward to being cocky again….one day….venting
Back from the pool.
This ain’t over yet.
If we head down into the close (margin call time) prepare for a Monday AM decapitation, 10/19/87 redux.
And then a turnaround Tues.
Agree 100%…and I’m afraid they popped the market a little too early on this ECB news…most traders aren’t going to hold out for the weekend.
Yeah…this new released over the weekend would of have a bigger impact.
Yeah we old guys laughed at the Asian Contagion Friday in ’98 (or was it ’99) when at 3:15 the markets tanked- with the DJIA down about 600 points or so.
We recall 1987 when it was down almost 30% at one point and even the program traders were frozen.
When are people going to figure out that the governments are going to bankrupt themselves, not the companies.. Well obviously the market stays irrational for a very long time, and at some point in the next several years they will figure it out.
This deal is a game changer. I believe going long here is the right call.
Please explain.
Internals kinda looking like people are buying this now..
WOW Fly I can’t believe u did that!
Fly what are your favorite squeeze candidates here?
LONG WNR TODAY !!!!! for the first time HAHAHAHAHAHAHA
yesterday’s 500 down day will b of memory only! my hat goes out to those who sold. U have completely gave in to the market forces
I think Fly needs to get back on caffeine and booze. It seems since doing the detox some of his market edge has vanished. I do think that he will be back, in spades.