Just a litte FYI going out to all of you cellar dwellers: the market doesn’t like these prices and is in the process of seeing them lower. Let me be the first to say, should we get a fucked up jobs report tomorrow, HORATIO CLAWHAMMER will return, with Merlin as his friendly, yet insidious, sidekick.
My TZA-TBT trade, net-net, is profitable today, as my gains in TZA outstrip my TBT losses. I am perfectly comfortable losing all of my money in TBT calls, as they were purchased as a hedge against insanity. If you fuckers want to be all insane and shit, be my guest. I don’t give a shit. Bring Swiss 6mo yields to negative 20%, allowing those yodeling bastards to inherit the Earth.
Despite the recent uptick, in the words of the underwater (literally) and without the luxuries of electricty Scott Bleier: “nothing has changed.” There are no reasons to jump in here. Might I add, it’s bad enough the only two stocks I have left (WNR, GSVC) tick lower daily; I don’t need the headaches of another set of sieves.
Although I am impressed by the action in CIEN, it’s not enough to get my face numb. For now, my favorite spots are TZA, TBT, WNR and GSVC. I will get back in, when The PPT flags OVERSOLD.
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The 30yr is going to do better and better through December as the Fed is going to purchase a fuckton (cf, Morgan Stanley’s report) of 30yr bonds (yes POMO). If you want to short treasuries, do so at the 10yr (ultra short etf: PST). This is Operation Twist/Torque, duration extension, fixed-income circle jerk, etc.
OTOH, you’re le Fly and I’m nobody, so do what you’re doing.
Horatio Clawhammer … ahh yes … how I miss him !!!
See ya soon dear friend !!!
.
I don’t know uyou. Do you really want to know me?
The 30 yr yields went up when QE2 was announced. This is all fear.
We will get another rally from this consolidation (1180-1210) to 1260-1290.
Or this is a top and we’re heading to 900.
Only if we breach 1180 is that a possibility.
Well played.
Well no shit, genius.
We would also have to breach 1150, 1100, 1050, 1000, and 950 on the way down to 900.
Sounds good T.
I don’t see what the rush to go long is. Piker sheep will be shorn.
Horatio and Merlin – will we also see fortune cookies?
I long for references of mice nibbling in small boxes, made from sugar.
No rush … in fact, last good rally before new lows come Oct.
IMHO, the market really, really wants to go higher. Despite the utter failure that the Obama presidency has been, you have to bet this jobs plan he’s about to unveil will be something mammoth, as this might be his last chance at salvaging his reelection bid. Second, there is quite a bit of smoke swirling around Fannie/Freddie and how the Fed’s going to start buying mortgages. At this point, the only way we go much lower, vis a vis an elevator shaft, is if we get a negative print tomorrow. Anything above 50K, and we’re rocketing higher.
That would depend on the price tag of this allegedly mammoth plan.
Because if it’s too big, the House slaps it down.
For all the tough, hard line talk we get from Republicans, they know damn well they can’t flat-out stonewall some kind of massive initiative to create jobs. They’ve got an election to win next year too.
If after running their analysis of the plan, they found out they’re dropping $2.8 million for each job created, they will do just that.
They can certainly stonewall it if it’s just another dumb money dump.
In fact, they’d be nuts not to.
Now, if Obama drops the socialist tack and goes, mini-gubmint somehow… different story.
Of course, pigs will also be required to remain airborne for 60 second intervals.
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You guys really have no fucking clue.
The more I read this right wing bullshit the more I realize the the US is toast.
Mammoth? I’m betting on mammoth levels of stupid. His “green jobs” idea was an epic failure, and he’s going to pour more money in it and try to punish the victors of that battle (oil and gas companies), free market be damned. He’s going to tax businesses more and pour money into meaningless seasonal projects like school repairs, and if it’s anything like his previous jobs initiative, he’ll spend about $250,000 per created “job.” As a radio host commented on the way home tonight, Might as well just cut us all a check instead.
Fly, if you want a 6/8pack (ripped as fuck) stop eating so much carbs
AND
you should NEVER eat carbs alone. add protein powder.
You forgot to add “no homo”.
even though he continues to do me wrong I just try to help a bro out and give back a little
(no homo)
You haven’t earned my attention.
Is he V-King’s little bro, by any chance?
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Gold miners looked like it was going to be a breakout to highs.
Guess not.
Back to A’s-Indians ball game.
Oh ye of minimum faith.
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FXCM’s Ilya called a heads and shoulders on gold…, looks like possible 2-3 weeks out before “drop.”
Possible GLD November OTM puts??? 150’s or even 140’s depending on strategy (hedge or double down if cash0-flush).
Hedge?? I thought the Fly didn’t believe in hedging..
Has anyone seen Peter Schiff?
My fanily grew potatoes not far from Fly’s house. I started my business at 17 by using a small sail boat to transport people and goods between Staten Island and New York. The Fly graciously bulit a small granite marker for historical remembrance near the site.
Yeah, I saw your pad in Asheville recently.
Not bad.
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I saw that last summer too! HOLY SMOKES!
SKIFFLES!
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No one lives in the house – odd, no? SKIFFIE!
Sold these recent bought positions in the crash for profit cenx 22 % profit aci 6% vclk 7% Wnr 17%
One thing seems to have changed – Irrational fear subsided. Replaced now by more realistic and sensible fear. We may or may not enter recession. The VIX briefly reflected much worse than that, didn’t it?