If you choose the path of risk aversion, there is nothing wrong with raising cash here. We’ve had a nice run over the past week and a pullback is expected. However, if you’re like me, against any and all bearshitters, you look at this and say “PFFFFFFFFFFFFFFFFFFF”, we’re going the fuck higher.
I have every reason to believe the Dow can decline by 100-250 points from here. Moreover, I expect to give back 5% of my recent gains. But, again, fellow plebs of the interworld, this is part of the game. Losses must be absorbed in order to achieve supreme winship.
As the clowns fire themselves out from carnivale cannons, “The Fly” will remain calm and collected and impose his will on the markets, whenever the opportunity presents itself. For example: GSVC.
Remember, the basis of the panic stemmed from Italian and Spanish 10yr yields. When the market started dropping, fuckers started making up rumors and outright lying and/or guessing about things, begetting more panic. Human emotion is ridiculous, especially when trying to make rational decisions in the stock market. However, eventually, the good guys win.
UPDATE: I bought KBH.
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How is the vacation treating you?
good, thanks
Fly, after 4pm EST today, take the rest of the day off…
All cash except for my DNDN shares I picked up a few days ago, which are en fuego! Enjoy a fine Cuban cigar while in the Caribbean!!
“PFFFFFFFFFFFFFFFFFFF”, we’re going the fuck higher!!!!
Damn right.
i can see why your trading evolved into buy and hold for longer periods. i’m finding this day trading daily trends is a waste of time/commissions. we are going higher, just not in a straight line.
how do I make a post in the peanut gallery?
WE are on vacation. Put down that iPhone right now or else I will fly to the nearest Whole Foods and charge the limit.
Get one of your underlings to take over- like that cute Jake Gint or that Woodshedder person (not bad looking either).
i think, fly youve been over ruled, been maried 32 yrs, do what she says, or else…you may lose money!
she’s hot. i’d tap that.
I think that’s Amy WInehouse, rofl!
Mrs. Fly is hot, btw.
______
looks like GSVC made a $4 million dollar investment tied to the value of Zynga
Indeud
They’re also the only people I know who are losing money on a Facebook investment.
A benchmark reference on any decline will be the NYSE one-year new lows.
This reached 1292 on August 8, and if this is not exceeded on the next decline,
the longer term outlook will be bullish.
so do you think we’ll retest?
Yes I do. In 2008 the first retest of the October 10 low was 6 weeks later,
about November 22. The market went lower but the number of new lows did not.
That same schedule would put a retest of the recent Aug 8 low at between
September 15 and September 22. It might be wise to buy some
September or October puts shortly after Labor Day.
And then on the selling climax, go in heavy long stocks.
rollin down,,,
buyin lng ,
Enjoy some warm sand between your toes and crystal clear water on your skin my good man. Eat well and smoke a fine cigar or three You have earned it and more and you know as well as any that it’ll be back to the trenches sooner rather than later.
You make a valid point that the sell off was emotionally driven. I would concur there is treuth (sp) in that statement. The corollary to that premise of course is that in an economy supported by fiat money, emotion is really all that matters when it comes down to it. Investor sentiment can makes things blow up higher or crash and burn. The machines monitor the activities of humans and are therefore to be viewed as being somewhat subject to the same emotional buying.
Fly … you still in DVR?
hey, hes on vacation. give it a rest, his wife will hunt u down, take your cash, and give u what for.
Don’t bother coming back Fly. France and Germany want a financial transactions tax (read stock trading) which means Obama won’t be far behind.
Get a nice cottage (hurricane proof), a couple of hammocks, some coconut trees, and just hang out.
Tell Mrs. Fly she can fly into Miami once in awhile and hit Aventura Mall.
These politicians are so stupid that they would implement a financial transaction tax and completely tank the markets.
We need to CTRL+ALT+DELETE all politicians
Why would that tank the markets? It would TANK THE BROKERS AND PROGRAM TRADERS.
Stocks would once again become what they should be: INVESTMENTS.
You should be banned for your net surplus inanity.
_________
a tax is a tax
The Clam next week is the only remaining Viagra for the Bulls, fwiw.
WTF?
TraderRick…Last night I made a comment about how the Bulls shot their Wad yesterday (that was based on my following of NYSE A-D volume)..someone pointed out that there could be a lot more Viagra to keep it up…then the German GDP data came out, ouch….anyway, that is why the Viagra theme. Core CPI should be higher then estimates, so all the bulls have is that “Hole” thing next week.
A a pulsing viagra infused dickhead like Bernanke knows how to maximize use of “that hole thing”.
we r waiting on the unknown
trader rick i think she means qe3
razor..yep, that is what I meant.
Thanks, Is Jackson Hole next week? I get it, clams on the menu, market gets a boner!
Yep, the Clams speech is scheduled for August 26 ….btw those words, “J….. Hole” is like a dog whistle to us bears, very painful to even hear mentioned, lol.
I would expect the sell-off to accelerate. The Euro Banksters were hoping for more money from France and Germany instead they are being treated to a transaction tax.
clowns and cannons made my day
September rally and QE3 are on the way, buyy everything except crap companies.
hasn’t QE3 already been announced in the form of keeping interest rates low till ’13? If not, what’s the difference?
SPY needs to fill yesterday’s gap around 118 in the next 3 hours and then we can talk
should of shorted parker bros, they own the monopoly game right? they’ll be a run on there bank next…
Next strong support level SPX 1173!
short the Euro QE1 is starting in Europe. buy EUO call options and the stock itself and short the currency. Some trades are just too easy and obvious. i.e. GOLD, SILVER, SHORT BONDS, SHORT DOLLAR, SHORT EURO,
been waitin to snag euo for a few weeks already.
we need government intervention to avoid, probably not another 2008, but a worldwide recession. weakness in europe and the us increases the odds of china imploding.
its all up to the clam now, I guess, as Europe seems to have chosen to sit there and suffer.
I am not completely sure that it isn’t a good time to panic, lol
I think the market volitility we are witnesing is due to past government intervention which has proped up failures and prevented true price discovery. Until the stimulus stops and the markets correct I can trade this bullshit but will not invest.
TR u r right
They shouldn’t have encouraged housing, ran such low rates ten tears ago, run the clinton surpluses, etc… but today they should be running fiscal stimulus.
Your view is both easily more in the majority and more impassioned, and that’s my biggest market trepidation right now.
What was wrong with the Clinton surpluses in your view? Keynes said to run surpluses in good times so that you have money in the bank to use to have fiscal stimulus in bad times. Actually a good idea if you ask me. Almost everyone on financial sites on the web seems to hold the Von Mises and Hayek economic ideology religiously, and so believes Keynes had no good ideas. But that’s not so.
The belief seems to be that everything that government does or could do is bad 100% of the time, and that everything that huge multi-national corporations and their lobbyists do or could do, is good % of the time. The lobbyists and propaganda experts are jumping for joy about having sold that bill of goods so easily to the public.
meant to type 100%
there was NEVER a surplus..they simply spent less money than they had originally borrowed from the social security fund – similar to how these idiots now are calling a reduced rate of spending increases ” spending cuts”…the clinton surplus was a complete media/accounting gimmick…don’t fall for the b.s.
Yeah! Let’s send every family a check for $100K . Instant recovery.
See this for results…..
http://www.comedycentral.com/videos/index.jhtml?videoId=24406
with everything they have delved out,pffft.they could have given everyone 50 k and still not rack up the tab. to big to fail my ass
in CLF now 75.46 for swing trade
European markets were closed when the Mercozy dog and pony show aired and have not had a chance to show there displeasure. Barring positive news Europe will open red which will put downward pressure on U.S. Markets.
Yep, the selloff recommences…
good thing i trade companies instead of countries,
whenever I see the thumbs down here?..I know I’m on the right track……thanks fellas
U R welcome, LOL.
ready for this?
we close positive
That would be a great short set-up!
i hope ur right, i also would like to have some of what u r smokin
lol u r right, we close up/even
buyin more lng
fly remember motricity its at $3, is this another ftk
eslr is at .16C
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