All of the depressionistas can enjoy their own personal depravity, without dragging us through the mud. There is justice and reason in the world after all. I am very pleased with today’s melt up and it’s not done going higher. I made, check this, over 8% today, led by WNR (I doubled down yesterday. Read my post). There are no reasons to be fearful of collapse. This was an elaborate, coordinated attack on capital markets. They caught the power elite off guard for a few weeks. But, we’re back in control now.
If you are short this tape, take heed to what I am about to tell you. Short squeezes do not end in one day. The pain you are feeling today will endure for weeks, if not months, providing some more false rumors on SocGen doesn’t disseminate after the bell.
With yesterday’s double down, my cost basis on WNR is a touch under $18. I cannot stress to you how important asset allocation is when investing. If I was “all in” WNR, on margin, I would have been wiped out. I had 10% of my assets in, rode it down 30%, doubled down—now I am nearly flat.
Don’t call it a come back. “The Fly” has been doing this shit for years.
NOTE: I am now +7% for the year.
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FIRST!
This comment is desperately seeking approval in the form of thumbs up and is throwing bologna sandwiches at the haters!
Coming off a day like this, please, Man. I shouldn’t have to tell you this:
The Fly is God.
Indeud. That he is.
Royalties please…you might also want reverse the flow since I haven’t trademarked this one: easy queesy (QE)
Well done Fly.
Up or down tomorrow? Flip a coin.
up
simple fact is…everyone is looking for QUALITY earnings driven stocks…give this stock a 20..(its 50 something now) multiple on $3 earnings…well..youre all pretty smart guys…you can do the math!!
Winning…
indeud… impressed as always
BREAKING NEWS: DEVILDOG BLEW UP HIS MOM’S ACCOUNT!!!
Where is CAP?
CAP IS SUCKING HIS OWN COCK.
F*ck off ! I’m still around. Market heads south tomorrow look out below come Monday.
On the subject off sucking ones cock which one of you clowns wrote this article http://www.slate.com/id/2300733/
Say no more, Cap (from the article):
In an odd Pavlov’s dog sort of way, the authors even describe how the man’s sexual arousal had since then been accompanied by a “constricting feeling in the throat.” That must be a terribly annoying feeling, I’d imagine, and apparently also one not easily resolved. “He has attempted to secure substitute gratification,” say the authors, “by smoking, or by stimulating his pharynx with a banana, vaginal douche or a broom handle. These have yielded various degrees of satisfaction.” And he did apparently get over his adolescent shyness and lack of confidence, too—he particularly enjoyed fellating himself in front of a shocked audience.
______
He’s being polite by not talking with his mouth full.
“They caught the power elite off guard for a few weeks. But, we’re back in control now.”
Ha Ha Ha Ha- back in control- ha ha
that was the best part,elite’s 😛
Need I say more?
The mild market selloff the last few minutes was very bullish for tomorrow.
Closing at the highs like we did Tuesday, is bearish. You want a droop the last 15 to 30 min.
Yes Indeud, the DOW droping 140 points in a few mins. is a sign of great strength. LOL, Rally on!
Check out AH action……………interesting! No one wants to hold this shit
This was just a good cleansing of the weak hands in this market. It was getting too easy. Now everyone that just got shaken out, will be forced to watch this rally without them.
Someone (razor) asked what Lenny Dykstra is up to. The esteemed former options guru (Jim Cramer notably called Nails “one of the greats” in investing) is quite busy.
In lieu of bail, he is pleased to be in the L.A. County Jail while he continues to assist the police in their investigations. Per the LA Times article, the 5’10” and formerly 167lb outfielder now sports a different uniform (blaze orange) in XX size. Pay no attention to the charge that he was found in possession of human growth hormone.
To verify that I’m not making any of this up see http://latimesblogs.latimes.com/lanow/2011/08/lenny-dykstra-pleads-not-guilty-drug-fraud-case.html
I’m happy for your winship, long WNR, no shorts and (no homo). BUT: before I’ll believe a theory that smells as conspiratorial as “an elaborate, coordinated attack on capital markets” I’d want to hear the case made properly: Who are the attackers, and what is their motive, means, and opportunity?
oh cloris, didnt you get the memo last thursday, we’re at war, the markets just dont know with who. and it was’nt on the teleprompter,so he does’nt know either
New post in PG – It is not just the chicks who can fake orgasms. http://www.ibankcoin.com/peanut_gallery/index.php/2011/08/11/it-is-not-just-the-chicks-who-can-fake-orgasms/
My WNR got an erection today. Definitely a cock and balls formation!
Up tape….or the depths of a powerful down the FLY wears his shit in a most public forum. Hat tip
Your analysis, as well as others who contribute on this site, helped me immensely in staying long this week. In the midst of pure chaos, I stuck to my plan and your feedback and insights helped reinforce my own intuition about the markets. In the last week of July I did ask you about TLT and wanted to buy right then. We missed an awesome but I don’t care. What are you going to do about TLT now Fly?
Play TLT via ZB futures. No point in paying that yield while you are short.
This might be worthy event to bring back senor tropicana 🙂
horatio clawhammers’ coming back to finish the job right,he’s borrowed devil dogs’ mom’s viper. he said he needs to slaw the features from the “elites” face’s.
Fly- why did we bounce today? I’m wondering what triggered the mammoth rally. We were down 600 pts, then down 200, followed by up 425 the same day, then down 500, followed by up 500 today. Market overall is oversold, so the likely trend in the short term looks like up, however, it’s anyone’s guess which way this elevator goes each day. Close call for you buddy, real close, going into a tailspin 70% long. All the best.
A wise man once said: “We have a lot of anxieties, and one cancels out another very often.”
Fly your blog is one of my favorite to read, while your musical tastes are that of the uneducated parasitic youth. What gives?
Guess you don’t have kids.
I’ve got a daughter that takes hip hop and this is the kind of music that they dance to.
Dancing to hip hop leads to pregnancy…
Yipes!
it’s comedy relief. Rap is the funniest music out there.
its ok to like black and youth stuff
Tru dat.
Im switching to multiple computers to down vote this comment as many times as possible. Dont hate Ricky Roset.
He is from Brooklyn aka Bucktown, USA aka Crooklyn Dodgers yo.
RIP Notorious B.I.G.
maybe i should say I’m in my mid 20’s and am plenty familiar with this type of music, it just blows.
My WNR and CVI were explosive!
I doubled down my SOL position at $2.84, it was up 23.84 % today.
Another day like that I I’ll be close to break even!
It’s so funny how devildic disappears on up days but chirps all day on down days. He is what I consider, a dolt!
Hey DevidBitch – Fuck You……again.
Damn!
DevilBitch…..nevermind…..
Who watched the previous bear hunt video all the way through?
Not sure if the ending was some kind of warning…
We’ve all seen it before.
http://www.youtube.com/watch?v=vimZj8HW0Kg
Days like today make me want to just start barking, DMX-style… smelled the the paranoia/witch-hunt in the markets yesterday, put my balls out on the cutting board, and boy did it pay off today.
I knocked it out of the fucking park again today with my purchase of NVDA this morning (see post earlier today). My common is already up 23% with the after hours move and my options should be up 900% or so tomorrow morning.
CLASSIC KRULL!
http://www.youtube.com/watch?v=nkq3veQ2lXE&feature=feedu
Holy shit, that was funny…i have so been there. KIDS KILL.
jefferson rocks, he just said it all. his main bitch was the exact reason i wanted to buy this place up the street.just so i wouldnt hear that shit about “he’s always home” he can do it. and my kids are gone.
oh man. and what is worse than the kids? the fkn spouse who wants to tell you about the day at 2:45
ROFLMAO!! this guy rocks!
Priceless. “I’ll stick GPS up their asses.” “Making tuna fish and bagels.”
Great stuff…as a work from home Dad, I can totally relate. Shit happens at the worst fucking time.
That video hit home with me, instant classic
“it’s ok, he doesn’t have a real job”
I’ve heard that a time or two
Oh fuck that is funny, “We’ll put detonators on our kids. If I can’t have my kid, nobody gets my kid.”
I am overcome by both fear and greed….I’m terrified of missing another huge up day tomorrow, but these last few 5%+ down days have me all kinds of nervous.
The fear and greed is absolutely intense.
I repeat, running my positions @ Defcon 1.
When I went to visit my daughter about 5 months ago in NYC I spent some time on the subway and I do believe I saw a couple of those guys from the above video sitting opposite of me.
But then again, my daughter gave me specific instructions not to look at anybody and pretend I was either a crazy person or engrossed in my smart phone.
And NEVER mention the BoSox.
She also told me to watch my wallet in Chinatown but that is a different story.
New York is awesome, unless you are allergic to the smell of urine.
Whoa….
What a roller coaster. Credit markets say something bad is brewing. TED spread rising. 30 year bond auction was horrible.
The world’s treasury buyers acted is if our bonds have a bad case of herpes today. BTC on the 30 year auction was a horrid 2.08. Santelli graded it an F. Foreign participation was like 12% which was the worst % in history.
No probelms here folks(rolls eyes). Just watched a guy on CNBC call for 500 on the SPX!
PS
Where is DEVILDOG??????
Devil Dawg (or Dog) is with Cap doing you know what.
the tone of this board changes by the hour… a huge down day tomorrow and this post goes in the ” downgrade is a non event ” category…. congrats on a great day
Dedicated to DEVILDOG: http://www.youtube.com/watch?v=5uC2FqXRVEI&feature=youtube_gdata_player
http://www.youtube.com/watch?v=BrFZiJ8vdMc
http://www.youtube.com/watch?v=OmusYrVE-ew
This just in, Belgium, France, Italy, and Spain impose short selling bans for 15 days. Do the math and the 15 days brings us to an important speech from Jackson Hole.
http://www.zerohedge.com/news/belgium-france-italy-spain-overrule-european-regulator-impose-standalone-short-selling-bans#comments
This market action is like the panty hose of Eliot Spitzer’s “girlfriends” – it’s down, it’s up, it’s down, it’s up…
Check out the daily returns from similar wild swings in Oct 87
26-Oct-87 -8.0%
23-Oct-87 0.0%
22-Oct-87 -3.8%
21-Oct-87 10.1%
20-Oct-87 5.9%
19-Oct-87 -22.6%
16-Oct-87 -4.6%
15-Oct-87 -2.4%
14-Oct-87 -3.8%
13-Oct-87 1.5%
12-Oct-87 -0.4%
09-Oct-87 -1.4%
08-Oct-87 -1.4%
07-Oct-87 0.1%
06-Oct-87 -3.5%
Concerned about this Monday and not sure if real investors will hold over the weekend, although .gov ppt robots might. I would like to know the SPY levels where options pay the least on expiration since market makers move the market with HFT to pay the least out to option buyers when institutions must roll protection.
Now that will have implications, i guess. Scary times for people over 50 like me. Can we make it back?
P
Motherfucker Cramer just called today’s move a “fake rally”. He said it THREE TIMES.
He must be short. I know he is vertically challenged, but he must be short stocks.
he has had egg on his face before…
Cramer has a significant personality disorder, is WNRly challenged and if as short stocks as he is socially he is net net sicko.
He doesn’t want his public peeps to get their fingers blown off. That’s all. I think he did a pretty good job explaining it this morning. Besides, if he got the lunch bucket bunch all in and then we retested the lows, he would be hearing from 50 somethings who lost even more of what remains of their retirement. Know your customer. Right?
He’s right.
Anyone sitting long or short heading into the retail numbers is fucking nuts. If you are on the wrong side of the number you can easily get 50 S&P handles shoved up your ass.
Fuutures looking ugly and Asia sin’t following through on our rally. We could very well roll back over tomorrow if the retail #’s suck ass.
Hedged both ways and sitting in cash in my spec account.
u guys r right, when have we ever seen this kind of tape? if we go up im even, if we go down im even, ill wait to play another day, theres no profit for me to say this. at some point i will get in, just not today , theres nothin worse than being up a hundred percent and watchin it fade, ive done it and then some. plus ive called this mkt to the t so far.
Raze, whatcha mean, ‘when have we ever seen this kind of tape?’ How fucking young and naive are you? How fucking secluded are you? Twerps, pussies, twinks, Wharton School janitorial department dropouts and schizophrenic market wannabes babbling about shit you should have learned years ago. STFU and come back when you have an idea and what’s left of your capital, if there ever was any.
I’m speechless and appalled!
Ruggy
First time in history we have seen 4 days in a row with 400 point moves on the dOW.
This has NEVER been seen before and you never learn the market. It’s always finding new ways to fuck you out of your money.
Their are obviously some seriously fucked up things that are coming down the pike. The market doesn’t act like this unless major trouble is coming.
You wan’t an idea? Go fucking short the piss out of every fucking back in Europe. You will make a fortune 6 months from now.
Edit: Bank
Great success indeed. Demonstrated tactics however were less than a razor sharp orchestration of money management grandeur.
mr. fly..continue to show good taste in music and your greatness will return…your start with sinatra helped you this week…no more sucky shit
meow meow market good meow today. meow i think i will get back in tomorrow meow meow.
Pussy!
FLY, the points down is more than the points up in this week. What’s your take on this?
Fly is wrong. Your longs will be squeezed for months starting tomorrow. Kiss your 7% good-bye. HAHAHAHA!!!!
DEVILDOG,
with money is almost free, treasury yield is record low, besides GOLD, where else can money go?
dog
I followed your advice that the market was going to collapse today and like your old dad I lost a ton of money. You have no insights.
i think we’re going lower. my biggest positions are completely hedged so as to be immobile, with in the money options. If we got a huge rally I could make money, but it’d take a doozy.
for VXX short sellers: next wednesday is the key day for improving your odds. right now the thing is rolling at an absolutely amazing level of backwardation near 30%. That means that it is gaining about 1.5%/day on top of whatever moves in the market.
on wednesday it starts rolling september to october contracts, which have about 2% backwardation, which is mostly irrelevant.
its not a good time for short term reckless moves short VXX. with that much backwardation at its back, … it doesn’t have a huge motivation to drop.
for people just short a little bit for a bonus return in a portfolio, carry on, it will die one day.
I am not a trader so I have no idea about any of this but someone on TV said that shorting 30 year treasuries would be the trade of the century. I suppose interest rates can only go up so he might have a point.
fools ! 600 grant couldn’t get you the s600? haha s550 in the 600 benz video ? major fail
fly, you can’t be supporting shit like this; wtf?