I increased my DECK position by 30%, averaging down sub $76.
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Joined Nov 10, 2007
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DevilDog was so sure of a market crash that he played it getting short gold …LMAO ( . ) ( 0 )
Cap, you’re saggin’…
At least he doesn’t have to worry about S&P 1250 anymore.
This time gold goes up not down.
If you are going to have an antagonistic blogname, then for goodness sakes, make sure you at least spell it correctly!
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jake i can see why you get upset when others misspell ,( reading your blog today) you write like a poet.
It adds to his passive aggressive repulsiveness. Get it? It’s surely working on me. Especially on a day when people’s nerves are already frayed…
There’s nothing passive about my aggression, Madame.
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looser like your ol’ lady?
Major cojones my friend.
Imminent banning for using LOOSE instead of LOSE?
I remember reading trading advice that said, ” never add to losers”
Here’s some advice, go get your shine box.
I hope you “remember” the trading advice on iBC, …L8R!
That’s fine, but this is ASSET MANAGEMENT. A great man once said, “birds build nests, and spiders spin webs.”
What catches a falling knife?
The fucking itsy-bitsy traders. Down comes the rain and washes the spiders out!
Lucky Fly, he’s on vacation and his DECK keeps getting bigger and bigger.
What a set of clinkers. Oops, gotta run fellas, there’s a guy in a white coat at my front door asking for directions.
Been warning you guys that this was coming.
It’s not over. 2008 style Lehman crisis in Europe. Unicredit is to big to bail. Big trouble.
The trade right now is short. Short the rips and cover the dips. No reason to go long anymore, we are now in a bear market, and will fall off a cliff sooner or later.
How’s that gold short comin’?
😉
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trading this market—>
http://youtu.be/8lYTIYvKTNg
wacked out machines man
Yea, Why not QE3 after all 1&2 did nothing to strengthening the economy Iwould expect as much from the clowns
Try spending two batches of $800 billion each on INFRASTRUCTURE projects
including roads, schools, sewers, power plants, parks, power grids, bridges,
water supply, internet distribution and natural gas fuel stations for cars.
And spending ALL THAT $1.6 trillion within two years. And then come bitching
here how “stimulus doesn’t work”.
We’d have unemployment down to to one percent, average construction wages
up to $60K a year, and half of Mexico working their ass off HERE.
Our economic growth rate would go up to 20% overnight, and we’d be
running Federal, State and local SURPLUSES.
I just drove length of California, I-5 and US101 (different directions) There is all sorts of infrastructure work going on, and not much traffic. (Except there were a lot of Semi’s) Pelosi, Boxer and Feinstein are great at bringing home the bacon.
As a bona fide civil engineer, I couldnt agree more with this. I work on big ass infrastructure projects and it would be a win-win. Come crawl up under the bridges that I do and tell me that the money wouldnt be better spent rebuilding our crumbling system.
Word is that Obama plans to revisit this mantra with his pending economic speech.
“Fixing broken windows”, from one CE to another, does not add productivity.
Indeud… Harken to the words of Frederic Bastiat… written some 161 years ago:
I. THE BROKEN WINDOW
Have you ever witnessed the anger of the good shopkeeper, James B., when his careless son happened to break a square of glass? If you have been present at such a scene, you will most assuredly bear witness to the fact, that every one of the spectators, were there even thirty of them, by common consent apparently, offered the unfortunate owner this invariable consolation – “It is an ill wind that blows nobody good. Everybody must live, and what would become of the glaziers if panes of glass were never broken?”
Now, this form of condolence contains an entire theory, which it will be well to show up in this simple case, seeing that it is precisely the same as that which, unhappily, regulates the greater part of our economical institutions.
Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier’s trade – that it encourages that trade to the amount of six francs – I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen.
But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, “Stop there! your theory is confined to that which is seen; it takes no account of that which is not seen.”
It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.
Let us take a view of industry in general, as affected by this circumstance. The window being broken, the glazier’s trade is encouraged to the amount of six francs; this is that which is seen. If the window had not been broken, the shoemaker’s trade (or some other) would have been encouraged to the amount of six francs; this is that which is not seen.
And if that which is not seen is taken into consideration, because it is a negative fact, as well as that which is seen, because it is a positive fact, it will be understood that neither industry in general, nor the sum total of national labour, is affected, whether windows are broken or not.
Now let us consider James B. himself. In the former supposition, that of the window being broken, he spends six francs, and has neither more nor less than he had before, the enjoyment of a window.
In the second, where we suppose the window not to have been broken, he would have spent six francs on shoes, and would have had at the same time the enjoyment of a pair of shoes and of a window.
Now, as James B. forms a part of society, we must come to the conclusion, that, taking it altogether, and making an estimate of its enjoyments and its labours, it has lost the value of the broken window.
When we arrive at this unexpected conclusion: “Society loses the value of things which are uselessly destroyed;” and we must assent to a maxim which will make the hair of protectionists stand on end – To break, to spoil, to waste, is not to encourage national labour; or, more briefly, “destruction is not profit.”
The broken window fallacy is only a fallacy if you break the windows deliberately in order to spike demand. (Jake, I know you get this. I’m ranting at the people who don’t know the difference between real infrastructure improvement and blatant pork, and I’ll concede that half the time it really *is* hard to tell the difference.)
If the window simply is broken because the home has gone 50 years without maintenance, then replacing that leaky single-pane window with something a little more modern really does provide a good ROI: your heating/cooling bill drops by more than you paid for the window.
Getting back to the infrastructure issue: you can’t efficiently ship goods by road when your roads are falling apart. Your nerds can’t profitably sell computers when half the merchandise gets shaken to pieces in transit. Your truckers can’t turn a profit hauling freight when you’re stuck idling for an hour due to the daily accident at the usual traffic bottleneck. Your consumers can’t afford shiny toys when they need a new set of shock absorbers every year just to survive the morning commute.
Agreud… but even upgraded replacement investment is not as productive as innovative investment capital.
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Agreud there too. I’d rather see our armies of unemployed building nuclear power plants (or solar, or wind farms – I’m biased towards nukes, but I’m not a purist) than filling in potholes.
On the other hand, despite my generally hawkish tendencies on defense, I have to admit there’s no greater example of the broken window fallacy than the fact that we spend gigabucks to blow up some other country’s roads, only to spend even more gigabucks rebuilding what we broke. (And after all that, we act surprised when They Still Don’t Like Us, and we wonder why we feel like we lack the gigabucks to rebuild our own roads!)
On the gripping hand, consider the comparatively $10B in indirect subsidies to Comcast/AT&T by helping another 10M unemployed pay $80/month to watch American Idle and post pictures of Lolcats. At first glance, I want to say that’s a shocking waste, but if one basement-dwelling nerd comes up with the next dot-com fad as a result of having too much time on his or her hands, it’s probably paid for itself.
Who gives a fuck about “productivity”? I want people WORKING, with their hands,
at high wages like $25 to $30 per hour – so they can buy shit.
I don’t care if they are using teaspoons to dig sewer trenches.
There are still lots of farm jobs I hear…
Rigged, do you have any understanding of exchange of value?
Okay, forget economics, forget math. Howabout history?
Howabout the history of the Great Depression? Familiar with the WPA, CCC, etc?
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Very true. My argument is that it will do more good than QE1 or QE2 did for this country. How about we invest in America instead of the same hackneyed ideas.
You guys are idiots. If you want to spend money, do it in a productive way like implementing pebble or thorium reactors. Release us from the stranglehold of the middle-east. The most outstanding and productive programs of the 30’s were energy related (Hoover and Grand Cooley projects).
Shove you “pebble thorium” up your ass. We don’t need to employ PhD’s.
Better to have a million people generating electricity with foot-powered generators
– and paying them $60K a year for pedaling!
Dumb ass, the PhD’s don’t build the damn reactors, they just design them. Such projects have plenty of good paying jobs for blue collar workers.
I’d take this trade — close down the Dept of Energy, take it’s budget and build 50 pebble thoria to light the country.
Done!
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It takes a degree or an entrepreneur to make $60k. Wake up.
sorry to hear that you think it takes a degree,(as i lmao) to make 60k. cops make 70-80k a year firemen make more than 60k. carpenters and electricians make more than 60k. entrepenuers? define one.
They are overpaid.
Entrepreneurs: Elon Musk.
You just don’t get it, do you. It doesn’t take degrees or entrepreneurship
to do manual labor for $25-30 dollars an hour, in a $1.6 trillion STIMULUS PLAN for infrastructure being funded by government borrowing.
These LABORERS, by the tens of millions, would earn $50K per year and SPEND the goddam money, while creating jubs for Caterpillar, GE, the steel companies, restaurants, Ford, Goodyear, Alcoa, work shoe and shovel makers (do you GET IT NOW, dum-dum?)
You can’t run a supply-demand economy without demand, which is sorely lacking when tens of millions are unemployed, another 50 million are grossly underpaid – while the Overpaid Top One Percent sit on their fat assets.
They tried it with broken banks too, same result…
Next on the list of experiments is throwing money at “broken governments”
Fucking Insanity
hpq halted, wacky price action, at noonish
$Tran is telling us this market is going much, much lower
If you liked DECK at $76 you should really like it at $74
Its not crazy to short here. Market is heading lower. S&P earning estimates $79 x 10 = SPX 790.
Take a vacation like the Fly. I’m sitting here at a remote beach-house watching three 20 somethings trying to rip each others tops off in the pool.
You win. 🙂
Dave’s a lucky man. Take pictures and share please.
If the market looks like it is closing on its LOW, buy TNA and FAS after 3:55PM.
If it is closing above its low, stand back.
Holy shit look at the VXX!
Did Marvin just call? No MARGIN CALL!
wow investor confidence, melting away, We need a good round of QE to keep you assholes from base jumping out the windows.
Sans “squirrel suits.”
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TZA +20% today, thank you mr market. I just made back my losses from the last 2 weeks.
I’m shorting this into close. TZA FAZ VXX . Bullshit rally here. We’ll be under 1100 next week.
Under 1100 or else what?
Over 1250, under 1100, it’s like a self-writing joke about positions involving collars and strangles!
Dang-it, I cut my hand trying to catch a falling knife today. Don’t worry. It’s only a flesh wound and hopefully it will fully heal in a day or two.
By this time tomorow we should be down another nice clip after “Joe The Plumber” reads the Headlines and checks his mutual fund preformance. and swiftly removes his life savings from Mother market..
Joe’s been out for months…
The President long ago distributed his savings, as according to plan.
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Ahhhh JakeGint, if you deny the jumpers their squirrel suits how about letting them think there are odds of survival by fitting them out with the wax bound wings of Icarus.
That would actually be more metaphorically apt, provided the day were hot enough.
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Thanks to MPEL, I am too poor to go on vacations again.
whats a vacation?
Good point.
It is time to restore US of A. If these bitches took a vacation to their local cinema or their shopping mall, we wouldn’t have this problem. Instead they are taking a vacation elsewhere, mostly outside USA.
Hilarious FLY keep doubling on that useless company, just like you did with GSVC, that company is buying more shares of inflated internet stocks than that fat kid who went to the Wonka factory tried to eat chocolate… Watch out for the fly swatter! Hilarious to see these idiots actually buy the stocks you recommend, WNR is the only okay rec you have ever had and even that is not that great everybody knows the oil refining business is junk so don’t expect any growth margins to come out of that puppy anytime soon.
WNR is a great play, sans an economic meltdown; which I just got the memo for. WNR is a great “buy” on pure fundies. Problem is: joe six pack panicking, mutual funds record redemptions, unloading everything. I guess 08 left people with a sense “when it starts to look bad GET THE FUCK OUT, b/c last time I was the last one out and got skulled, mentality.” I’m just going to sit on my hands for a few days, bot some put protection yesterday on exxi, hopefully get some kind of rally b/c I’m ready to go max boogie short (yesterday i was all max boogie long , so I am a clown and the diameter of my asshole is growing at an alarming rate.) I should be banned from trading equities, b/c I suck cock at it apparently. MAD PROPS TO FLY ON THE 3X SHORT HEDGE, YOU STILL GOT IT!!!
StockyWock,
You say WNR is his only good recommendation? That can only mean you’ve only been following his recommendations for a couple weeks. Fly has been posting his buys and sells for several years and there have been a lot of winners. No one is perfect and a recommendation (or his buy notice) does not mean the stock is going higher in a straight line. FTK which was one of his greatest calls looked abysmal a couple times before it took off. His analysis of the company was right on, but that didn’t mean The Market would catch on immediately. Once The Market noticed the company more than tripled in value.
Don’t worry folks, Barry Sotero will announce his “Jobs for Americans” plan after two weeks sunning at the Vine Yard. The infrastructure plans include new bridges, tunnels and roads to be built throughout America. Of course software engineers, teachers, burger flippers and factory workers are well suited for tying steel in 105 degree heat.
http://www.youtube.com/watch?v=YvjWagItXww&feature=related
I know more than one engineer that is pulling hot slabs off with a forklift and making more than they would practicing their profession. Thanks unions, because in a fucked up way, these guys wouldn’t even have a job.
he did that already, wasnt so shovel ready
The USA has factories?
Unless you mean the $10 per hour customer service factories that aren’t in India, Philippines, etc.
going to join fly eventually and buy deck at $58-64.
I just sold to FLY. Lol
from one of the big boys tonight:
The positioning of the economy and pace of recovery to date (a mere 2.5% average growth rate in the past two years) do not suggest a new cyclical recession, rather an inability to mount a full recovery. This view is exacerbated by potential political paralysis and fiscal tightening steps. Both tax increases and spending cuts larger than we assume would be automatically triggered in the absence of bi-partisan agreement.
Implications of Lack of Recovery, Not Just Recession
Unlike many new forecasts suggesting a very high probability of a recession – a broad-based plunge in production and employment throughout most every part of the economy – we see the chance of such plunge as quite low, sub 20%, in the absence of policy mistakes or financial shocks. Drivers of cyclical recessions like inventories, production and employment are not positioned as they were in 2008 or earlier periods of broad based collapse (see figures 10-11).
(cuts 2012 S&P EPS to $101 (from $105)
When do you stupid bitches realize that 2009 = QE1, 2010 = QE2 = earnings power. 2011 = No QE3 in sight, earnings power lost for 2012.
Do you retards know that market looks forward 6 months ahead? Without realizing that, clusterfucks keep saying “earnings power is fine”. Are you fucking retarded? I can understand if FLY said that. But, of all, you?
“Dr Genius says:
August 17, 2011 at 11:38 pm
one would think that a man of your prestige should be able to afford a babysitter.”
Lol, that explains that FLY has 3 figures in his account. If he manages rich money, do you think he will have time to use junk language on his peers? Think about it folks. A simple thought!
FLY is afterall a troll on his own website.
his kids r older, and have hormones, u got to keep ur eye on them.
Bush was on top of it”? Are you fucking kidding me?! Do you have the republican cock that far down your throat that you believe that that fucktard did anything to resolve the profound issues that this country went through while he was in office? Not only did he not do anything positive for this country, he and his team actually nearly sent it back to the stone age.
Two years after graduating, Obama was hired in Chicago as director of the Developing Communities Project (DCP), a church-based community organization originally comprising eight Catholic parishes in Roseland, West Pullman, and Riverdale on Chicago’s South Side. He worked there as a community organizer from June 1985 to May 1988.”
Hottest short article on our own homepage
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