I don’t buy into spiraling markets, ahead of a long weekend. I don’t fucking buy ahead of stark raving mad recessions and I don’t eat fatty foods. While the majority of you are obese, due to your high saturated fat intake, “The Fly” lives lean and is able to do exponentially more push ups than you. It’s not important that I bulk up, like some of you muscle brained perverts. I can run faster than you and have the ability to travel through time, vis a vis my fucking time machine (duh).
Having said all of that, I am not buying into this dip, not yet. The time for dip buying is near, but not today.
The game-plan is this: use this weakness to book egregious profits on my TZA common and call positions (calls are now up 70%). Upon a flush out and cat calls of a greater new recession, I intend to buy the blood and profit from an extreme oversold condition. Being that I will be researching short ideas this weekend, immediately following a dead cat (that’s two cats in one paragraph) bounce, I intend to throw a few fucking shorts on the barby. Please note, I will only initiate short positions into strength. I am NOT fucking chasing these stocks down a rabbit hole, only to have a fucking grande piano thrown on my torso by Bernanke.
My TBT experiment went retardo wrong, now down 5% for the day. I will cut losses on this fucker, should it trade down on Tuesday.
In the big scheme of things, I am unscathed from today’s decline, now off by just 0.2% for the day.
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Fat doesn’t make you fat.
Tell that to the fat guy eating a hamburger.
I’m a bit offended as I read this and eat a bacon cheeseburger.
I’m not fat either.
You’re fat on the inside.
Oh, it also kills you.
All men die, but only those who eat bacon have truly lived.
It doesn’t? How so. Pray do tell wise Horatio.
High fat, high protein, and low sugar/carbo creates my Jesus on the cross figure.
Do you think we will retest the lows?
Not sure and it doesn’t matter. I am not a technician.
I do think a bounce is near, just not today.
I bought SPXU and the VXX yesterday and it’s working well for me. I guess I’ll take 1/2 off now and let the other half run more. Thanks for the advice.
you talk like a technician
Fly warned me about DISQUS, its down. Do you know that Jim Cramers Real Money just redesigned their site and added DISQUS for comments. Anyway, this afternoon is really going to be interesting because everyone is heading out and with light volume this thing could go crazy…in either direction.
I just noticed my urine comes out in a spiral. It’s like my dick has rifled barrel.
Hope you don’t shoot blanks also.
My jizz is so potent it crawls uphill.
I can make the balloon pop by pissing in the clown’s mouth (no homo) faster than any of you guys.
If you travel to Australia check to see if your urine stream spirals in the opposite direction … curious if there’s any truth to that rumor … LOL
And this has what exactly to do with …….anything?
Sounds like:
You don’t tug on Superman’s cape, you don’t spit into the wind, you don’t pull the mask off the Lone Ranger and you don’t mess around with Ben.
http://www.youtube.com/watch?v=njvgjZbjoR4
From quantitative easing to qualitative hardening.
From B.B. sponsored hot dog eating contest with claim juice to eating peas.
sounds like you are describing my dick …
Watching stocks today, I feel like a trout swimming along, tempted by jiggling bait. But I’m not going to bite, especially not before this long weekend. I’m off to eat a sandwich and ignore the market ’till Tuesday.
What did the little fish say when it was swimming along and ran into a concrete wall?
ans- dam!
Le Fly, aren’t we all dying anyway ???
Germany is fron and central next week.
Their Supreme Court rules on the the Greek bailout being constuitional.
This goes down Sept. 7th.
This sell off will be just an appetizer if the court rules against the Greeks.
I think a “Lehman weekend” in Europe for their banks is a virtual certainty at this point.
It’s time to go all in on the Chinese! You gotta do what’s counter-intuitive.
Throwing your money in the ocean is also counter-intuitive.
I may be a pleb but I’ll see your lean and mean and raise you 6-8 foot south swell grinders here in San Diego the last few days.
Can you say shackadelic? 🙂
Have a great weekend !
Go SPXU!!! Go VXX!!! Victory!!!!!!!
.
WINNING !!!
😀
.
Regarding Fly’s TBT, as I was pondering in my diary a couple of days ago, its hitting a heavy support area at 23ish off of fibo levels from IPO. This thing shot thru 161% in 2008, but spiked just as fast back above it and held during the worst part of crash. TBT follows the Fed Futures…when TBT settles back over 23 clean, it actually could be a bottom..Bill Gross will be happy.
You know you really shouldn’t use TA on levered products.
Yogi..The Magic of Fibonacci is everywhere, lol. Not just simple TA, its Nature..at least the Nature the Physic Geek Algos love imho.
If you add in an exponential factor in with your fib, then you might be looking at your leveraged bleeders alright. If not, then you might as well start stockpiling copper.
Nymph, are you still long ag(riculture)
yep…but I never talk about it. Shawn is that you?
No saw you post once mentioning it. Medium position DAG for me
Just seems obvious natural and other disruptions will continue. regardless of currency
Yep, shit gettin’ real out there. For example, BHI 2012 consensus EPS is 5.91. Let’s go full retard and smash 30% off that shit to get $4.14.
Historical P/E is up there at 24. One standard deviation below is 15. 15 X 4 = $60. Yet here it is at $57. But what the fuck, nothing matters at this point.
Last one, similar exercise with SLB (30% cut to EPS, 1 std deviation below average PE) would give a price target of 77.
Basically those two companies are 5% below recession prices already. But if we go 2008 style, shit gets real bad. PE’s drop to around 9 for SLB and 6 for BHI.
My thesis is if we do another 2008 this soon then my bullshit Thinkorswim account won’t mean shit any way. We’ll be in full Mad Max mode by then.
PEOPLE
INSTITUTIONS ARE BUYING SWISS DEBT THAT IS YIELDING NEGATIVE 1%, LOCKING IN LOSSES FOR SAFETY.
Something is brewing
Currency play too.
The same institutions that were packed to the gills in subprime mortgages? The same institutions that ran like scalded dogs to the dollar during the depths of 2008/2009?
You mean those guys? Fuck them.
No, not those guys, Pimp. The other guys.
Oh hell, then I guess I better stock up on canned goods, bottled water, and firearms.
Because if was the other other guys then it would be no big deal. But these other guys they don’t play.
LOOOONNNNNNNNNNNNNNNNNNNNG
SDOW
giddyap
I like the challenge of catching knives being tossed at one’s self by a carny dressed in clown suit … hence I bot the potential IHS of DF @ $8.02 … Love a challenge!
stop below 7.90
Neg yield Swiss debt play just cheaper insurance then other alternatives with pricey IVs
If you are looking for a short look at NKA….. natural gas storage company with break even spread costs of $0.90 when the market is $0.48. They are being bought due to their 11% dividend….. they are running out of cash and issuing more shares to pay for it. All of their customer contracts run out within 2 years. 1/3 of their assets are “goodwill and intangible” which is air.
Mr. Fly says he doesn’t want any Oatmeal comments and he gets 90 comments which is the most posts I see for any blog in awhile???
We have a penchant for fine oatmeal around here.
… actually a couple of those comments were about the benefits of Oat Bran over “Oatmeal” !
Hey !
I tried !!!
.
Fly,
You also don’t post videos with hot, plump, succulent third-world chicas. You post videos of angry black men.
Let me show you the other side…
http://www.youtube.com/watch?v=Rs1ILU1CHSo&feature=related
Check those hips and the makeup. You know you want it in the back room of a cheesy bar somewhere in South America. To say you don’t would be a lie.
Mexican Buffet Sunday, thanks Taco.
So much for my diet.
Lookie…. gold and silver still heading up. That’s my no-brainer long-term trade.
Might regret it, but took out half positions in three that seemed oversold today (X, SCHW, & TKR). Didn’t exactly hit the bottom, but close enough that I finished today about even. Coming out of this long weekend I’m looking for stocks with high short interest for a big bounce.