Do not be fooled by the pretty exterior of this market. Many of you are being boiled, slowly, long garbagio into the soup. Get this, the Swiss government’s last bond auction was 7x normal demand and they MADE $4.2 borrowing money. Did you get that? Apparently, the Swiss have the best business model in the history of mankind, making money by borrowing it, or something is seriously fucked up here.
Last year this time, I got fucked long VXX into a 9% S&P melt up, which translated into a 50% loss in my position, a new record for yours truly. It was, without a doubt, one of the worst trades of my career. I doubted QE2 and it cost me millions. I will not make the same mistake twice and you can’t pay me to bet against Le Clam. However, let’s face facts here, this Friday’s jobs report is gonna suck bad. My risk on trade is betting against treasuries, via TBT. I am long WNR and GSVC and TZA calls. I have 40% of my assets long, some in TBT, the rest in cash.
On Jupiter’s stone, this market is giving you a gift. Quit being so damn greedy and take it, else get hit by errant lightening bolts in exactly one week from today.
[youtube:htthttp://www.youtube.com/watch?v=tCFSTQFlbgY 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
No ones looking to bet against the Clam 24/7/365. Rather, I’m just looking for some more early September doom and gloom before a late Fall rip-your-face-off rally.
I’ll see your doom and gloom and up you a market surprise next month through rest of year.
Gold will see 1500 before 2000..if ever.
Call noted. If wrong I will allow you to suck my left nut ever so gently.
ALLPROz
No thanks.
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So the delay in your response represents you at least considered my offer? 😉 I could not bring myself to make a DevilDog type bet.
Jake, I know you are a gold fan but I will take opposite trade here.
Let’s see what this fickle bitch of a market does…
Cap made that bet. Get your IBC right.
What happens one week from today, besides the lightning bolts?
more lightening
I can imagine when Fly ventures about the country in random hotels he only lodges in themed suites such as “The Zeus Room” or the “The Roman Suite” where he gets black out drunk and walks around the grounds in a loin cloth and open-toed sandals while throwing furniture at other guests.
What the fuck do you think I am Don Quioxte and Jeremy is Sancho Panza?
I just read “lighting bolts” and my and mind started to wander to Roman times.
(sounds homo)
I think the FLY may be saying a sell off is in order but it wil jsut bring in QE on a silver platter
The bolts are perhaps telepromters speech to the two houses
Sounds like the “deflationary scare before QE” thesis, which seems plausible. We’ll know that’s playing out of gold gets whacked along with stocks.
The clouds are black because I hover ominously over your city bruh! I get that work from my face!
LOL
Your insight finally pushed me over the edge, Fly…TZA hedge back on, for the third time in the last 5 weeks (sigh).
This is going to be the best wall of worry ever. 😀
Long and strong TZA!
I love when I hit the lottery and I get a Ricky Roset background. It adds an element of style and penache to your posts. Any chance we can see a Robert Goulet background in the future for added affect?
Bruce Krasting has laid out the connection between the big O’s mortgage proposal and qe3.
The must read today.
Found it. Interesting. Thanks.
http://brucekrasting.blogspot.com/
It’s about bloody time somebody gave me a fucking break on my mortgage. I owe $70K more on my house than what it appraised for twice in two years (underwater $16K on a first plus $54K on a second). I currently carry a 20-yr mortgage on the first and could save over $800/mo if my bank (or any bank, for that matter) would let me refi the first into a 30-yr. I could wrap both the first and the second into a first at 4% and still save on the monthly mortgage payment. I have a 740 FICO score and have never been late with any payment to any creditor but the motherfuckers won’t do the refi. For various reasons other than moral, I don’t want to default on the house. I’m just looking to lower the carrying cost until I can sell (realizing this may be quite a while into the future) and do other things with that $800/mo. I gotta believe there are many others out there like me who represent a lot of pent up demand/pay down of current non-mortgage debt if only the fucking banks would do the god damned refi’s. I’m not a fan of the clam but I can certainly understand his frustration. Hell, if this program happens this may even get me to vote for obozo next November.
Should mention I’m not looking for principal forgiveness. Just let me refi the existing principal and free up some cash flow each month.
i think it to the banks disadvantage by refinancing, its the way the rules were written. i have some friends in the same boat u r. i dont understand why they dont adress this. i wish they would wake the fuck up and help working americans instead of just the banks
what we did the last time we re-fied. we took the amount of tax that goes into an escrow that pays the tax bill twice a year,from the total amount and it cut our mortgage payments in half. but you have to have the discipline to stash that cash in an account that could give you some kind of return,or free up that cash for important,hot water heater/washing machine breakdown etc. but know that when your prop tax comes due you gots to pay it. but the freedom to not give5-600 hundo a month to your bank who is gonna leverage the hell out of it and make money,when in fact you can do the same. you are just removing the gravy away from them with your money,that they are banking coin on during the life of the extra money given them,, and when your tax bill comes due they just pay it. that is this built in bs in using so much of your coin during the year. out smart them.
drummerboy…I like the play but how do you get them to release the escrow, I thought that you had to have a certain amount in the escrow account each yr?
not for taxes,because you can command that you do it and not them.just go to your bank and make the change.they should/have to return to you those monies. there is no law that says you have to give the bank that money to pay your property taxes,because if the bank”mistakingly” doesnt make the payment,or is late,ususally the taxing body comes to you and not the bank for said payments,and or late/penalty fee’s.
ironic,that in this here fly post he says,”appearently the swiss have the model,making money off of borrowing it from you”. think about it, you give them all that coin during the year just to make 2 payouts for you a year.what,does one think that they cant use that coin,they sure as hell do.
very true, thanks for the insight, I will be talking to the bank tomorrow
You paid too much for your house. Mail the keys back to the bank and take the ding on your credit. You are better off renting for a while, after a few years you will be able to buy a much more affordable home. Treat it as a business decision.
I know people in similar shoes.
Magic words I’d look for (if U do key-in) are “anti-deficiency judgments” depending on the state.
Not a lawyer plug, but probably worth an under $ 500 sit down for a couple different scheduled hours or so… .
Hope that helps.
You lost any and all sympathy when you got to the “second mortgage” bit. There’s a reason why years ago people with a second mortgage were considered losers.
Call the whaaaambulance.
Will buy one boat load holding (SSO) at some point if it gives it to me. IF this market heads up, it smells of certain sectors outperforming others and I am not going to guess which 10-15 stocks and get it wrong. Next two weeks is critical for rest of year.
OF COURSE CWTR is going out of business. All of the fat mountain people who buy their clothes are bankrupt.
At least it gave them a place to go while their MILF friends were in Ann Taylor.
made eggrolls today. note: no kittys were harmed in the making of said eggrolls.
Nice tune Senor
I also like the tune.
I believe his musical tastes are better since he was in Amish country.
Sounds like a CYA post – are you bullish or bearish Fly?
yes you are right, this market is like a jack in the box.
95% cash, 4%lng, 1%llnw, thinkin obama drama is setting up. speaking the same time republican canidates debate? what will he say. introduce a plan to buy every house, refinance all underwater loans. this is just my thoughts.
DPTR went up 30¢ in the last 12 minutes of trading today. I think 200,000 shares were traded. There’s news of a Pacific Energy aquisition of assets. What does anybody think of this? Do you think DPTR continues to rise or what?
Unemployment’s been pretty steadily bad at 9 % so isn’t this expected not to improve anyway? Also wasn’t the nonfarm payroll better than expectations last time? What exactly are the dark clouds, we have a 3 day weekend coming up.
Obama is going to do ANOTHER billion dollar road paving stimulus
They only jobs it will create are 3 month temp jobs, for illegal immigrants, as they fill in potholes.
And he thinks that will bounce his ratings??? When the last attempt at the SAME program gave him approval in the 30% range???
I’m really starting to think someone is bribing him to throw the election.
Your roads in America are horrendous and you don’t even experience the perils of winter.
Buy a car with better suspension.
Im a civil engineer who worked on multiple ARRA projects and I have intimate knowledge of project funding over the last few years. I can name you 20 projects that were more than just filling pot holes and did some real good at solving our infrastructure problems. It wasnt a perfect solution to unemployment, but some real good came out of it.
Just a silly idea of mine: buy a fucking bank with solid earnings and future upside potential AND get your 5% in basic YIELDS nevermind the preferred shares -thankyouohsomuchmrbuffetforthesixpercentofftheshareholdersbacks – this is why I rarely hold cash and prefer to hold the underdog of the week/quarter in CDN bank sector. I can’t time the bottom, so I may as well hold what will rise first and fall last. Beers are mine this eve.
Just an FYI :
… from their July HIGHS … to their August LOWS …
…the 3 Major Indices are ALL currently @ their 50% Fibonacci Retracements !!!
😉
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… translation ?
Gotta give some back here !!! imo
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In The Land Of The Blind … The One Eyed Man Is King !!!
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… just sayin’ !!!
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If someone were to punch you in the mouth and to also do a Three Stooges poke to the eye then the One Eyed Man would be both Blind and Toothless!
Just Sayin!
PS Love how you have 2 identities and can give yourself a Thumbs Up on everything you say! Pathetic!
… git a life, “Brucie Baby” !
Stop obsessing about me, fagot !!!
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Instead … Watch … Take Notes … Learn !!!
😛
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… uhh … correction …
make that faggot !!!
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“In the land of the blind the one eyed man is King” ~ Desiderius Upuranas!
I guess u would know!
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… uhhh … you LOSE … faggot !!!
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WATCH … TAKE NOTES … LEARN !!!
NOW !!!
Repeat after me …
😀
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GOD LOVE YOU, RIP TAYLOR!!!!!
Test
You two should fight.
For all you know, the $ was for a terminally ill child & his shitty expensive hc policy wouldn’t cover it. Think before you throw your shit monkey..
Yep!
Time to get long by buying a years subscription to the PPT. Getting hit by a random lightning bolt would suck.
Lightened up on my longs today, added to my VXX and FAZ. Also flipped my TIN long to short. It sucked holding that one on the last drop.