Is your seat death proof?
[youtube:http://www.youtube.com/watch?v=GETunx85zmU 603 500]
“I’m afraid you’re gonna have to start getting scared, immediately.”
If you enjoy the content at iBankCoin, please follow us on TwitterIs your seat death proof?
[youtube:http://www.youtube.com/watch?v=GETunx85zmU 603 500]
“I’m afraid you’re gonna have to start getting scared, immediately.”
If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is God.
Wave 5 is ALIVE! ITS alive!
It even looks like Dr. Doom and Gloom the Great Roubini may have not been gloomy enough for the shit storm hitting us.
Roubini’s latest suggestion was let’s do another bigger stimulus… a la Krugman.
He puts the term “one hit wonder” to shame.
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sick.
ok,so i just puked my beer on that flying leg.was bernanke the driver?
Obama is the driver.
obama is kurt russell we are the chicks… of course we know what happens to kurt at the end
I don’t. No spoilers Plz.
Dis negro is magix!
(via Bloomberg):
OBAMA SAYS UNIONS CRUCIAL TO AMERICA’S MIDDLE CLASS
OBAMA SAYS AMERICA NEEDS ‘STRONG LABOR MOVEMENT’
OBAMA SAYS U.S. AUTO INDUSTRY PROVED ‘THE CYNICS’ WRONG
OBAMA SAYS CONGRESS NEEDS TO ‘GET ON BOARD’ ON ROAD REPAIR WORK
OBAMA QUOTES 1948 TRUMAN SPEECH PRAISING UNIONS
OBAMA SAYS HE WILL STAY FOR COLLECTIVE BARGAINING
and the kicker:
OBAMA SAYS ROADS AND BRIDGES NEED REBUILDING IN U.S.
Enjoy America: you are about to have many bore roads and bridges rebuilt.
“Obama is the driver.”
They saved the banks, allowed them to be recapped and now they’re suing them for around the same amount of money they were recapped for.
This is fucking insane.
Obama is going after “Wall Street fat cats.” It’s his only chance at reelection. With this action, you can see he doesn’t care about the economy at all.
US to $0
$00.00
That would put gold at… what’s the name of one of those figure eight thingies lying on its side?
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A lemniscate? Did the vocabulary take a long weekend? 😉
It was a funny.
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divide that by 10 or 15 to get silver’s price
More like 25, but that should be good enough.
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wants to act like the bull in a china shop now huh. all that big money that put him in there,want him and the shitcago operators OUT ! oh but wait,one last thing him and rahm need to do first before the door kicks him in the ass. riots and martial law and racial riots.
Race riots are easy. Just implement austerity measures. Oh wait…
Or just get Jimmy Hoffa Jr. to start out your speeches to your hoi polloi…
Quote from JHjr.: “We are going to take it to these sons of bitches…”
Obes gets up right after and thanks him…
Ah well, so much for “the new civility.”
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…let the motherfucker burn…about time we got back to basics…shit is very much on fire down here in Austin…and Rick Perry is begging the DOD to bail his ass out after cutting the tx forest service budget…time to spread the fucking hurt around.
Spoken like the the true god of herds and animal husbandry.
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the trickster god.
Maybe this begins the next leg down.
LOL.
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Mad Scientist- I fat fingered the smart phone earlier and gave the thumbs down by mistake instead of a thumbs up.
No problem, sir.
Im so happy I left the markets a couple months ago. Stress free and carefree. Its funny now looking at the market from the outside. Its so trivial and people are just scrapping to get some money out of it. Go out and work people. Its great to socialize with others and having coworkers isnt all that bad.
Short Version:
Fuck the markets, the sooner you leave it, the longer your lifespan is. You will also be happy you left.
I cant wait until fly puts up that new area of the blog where regular people like me will be able to post. I will post what I just did with $90 that in the past I would have lost in the market etc. Show readers of IBC to stop throwing your money into the stock market aka legalized gambling. THE HOUSE ALWAYS WINS.
Some of us do work and also trade. Why do you present these as mutually exclusive?
Because look at this year. If you work and your not infront of the computer, you literally missed the bottom. The bottom occured so often in 1 day, the market would steamroll higher in 5 days making all sorts of records. Then, when the regular guy like me would get in, lets say in day 2 or 3 of the rally, those gains would be harder to get as if you bought in on day 1. The gains made on day 2 or 3 would eventually fade away in the following slow downturn of the market.
Now its not impossible to make money in this market, but lets say I decided to buy at the bottom, or what I assumed was the bottom, my little buy would go down in value and I would have to sell. for a loss of $90 on average because I was wrong about the bottom. I cant stay infront of the PC guessing if each day is the bottom, I would be printing losses. So when I eventually guessed the correct bottom. I would be making up for lossed money I spent guessing the bottom.
Ive done all sorts of analysis of the markets and unless your a wealthy fat cat like fly, your basically screwed. Save your hard earned money. This year has been brutal for the little guy who cant be infront of the PC.
Ur gay. Learn to use triggers.
Sounds interesting. How do those work?
whachootalkinboutwillis?
Why you keep losing? I’m pretty sure it’s because you’re “guessing”.
My participation in the stock market has been a huge blessing for me.
I am wealthier because of my participation in the market. I will continue to stay involved despite days like Friday and likely tomorrow. Because, even after times of eggregious losses, net-net my family is better off.
I have also learned a lot about myself because of the unique pressures that personal responsibility of gains/losses bring.
My character has strengthened as a result. Work ethic, focus, controlling emotions, humility, etc. I would even go so far as to say my faith has grown as a result.
Investing and trading is one of the best thing that has ever happened to me.
I also have a full time job, fwiw
LOL… There’s always at least one miserable wretch in the woodpile, no?
How in the heck do you thumb the above post down?
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Also, since you have to work and can’t day trade you might want to consider trading option spreads which are not as delta sensitive and are theta positive, which means you make money as the days go by and your probability of success is higher. Figure out how to trade around your schedule and stop whining.
The dude made numerous references to “guessing” and you suggest he start trading options? Yikes.
yes
I disagree with you, 100%. Just because you couldn’t hack it, emotionally, doesn’t mean we are all weak like you.
Fly not all of us have a huge pile of cash to push into this meatgrinder of a market. You are exceptional. Not like the rest of us. You have a talent the rest of lack. This is your playground. Some of us need to know when to stay the fuck out and let the bigboys play. Yes I am weak when it comes to the market. I realized it and I am out. I am much happier now. Hopefully others realize it before they are too deep in the hole.
Pete
That’ s a misnomer. I started the market with just 6k, 17 years ago. You can build wealth in this market, or any, with the right tools and mindset. What the fuck do you think we are doing here on iBC? Helping you fuckers cook oatmeal?
Fly, you’ve been great and so has the PPT. I’m not in there as much as I should be because I don’t “trade” a lot of single stocks and mainly stick with trading ETFs. However, it makes me anxious to know that I have several friends heavily invested in their 401ks who are going to suffer through this downdraft.
I think the PPT can be used to time ETF trades via the Fly’s OB/OS indicators, no?
I primarily trade the 3x ETFs and plan on using the PPT to fine tune my swing trades.
See you on the inside!
Wait, you can help me cook oatmeal too? This is AWESOME news.
I usually don’t follow investment advice, but i did buy quaker oats last saturday based 100% on the fly’s review a few days ago.
Oatmeal good for keeping the pipes clean.
I like my oatmeal thick with fruit and shit in it, Fly. have your bellhop bring me some.
The shit comes after, not before the oatmeal.
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Actually your blog helps them make money AND cook oatmeal.
That’s called value added.
Under the Obama Administration, it will be taxed accordingly.
Pete, you’ve missed the point. This is not a game you play against the big boys or anyone else. You play against yourself. It’s that simple and that difficult. Fly’s a master. Watch and learn.
BUT remember, it takes time, real effort, and most of all commitment. Once you’re committed to the effort, the rest comes in time. It took me more than 5 years of hard work before I started to reap the rewards. Hard work meaning five to eight hours of market study after working a full day. Was it worth it? Absolutely.
I did this for years! And spent entire weekends going over charts. 12-16 hrs a day on weekends. Do work get paid.
Yogi…For me I am year 4, but honestly I have loved every moment of it so far and can never call it work..I can go 24/7 except that stupid sleep thing.
Pete – I agree. You’re better off working. I’ve been doing it a long time. I had some excellent mentors early on, and spent a lot of time and effort to become a “mediocre” trader. Even so, I wouldn’t exchange one trade to go back to that other world.
Managing your own stake is the best “job” in the world.
You should’ve bot some PM’s, Chicken George.
Bawk! Bawk! Bawk!
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Another amateur.
How much purchasing power did your dollars lose in the last few months?
If you have anything, there’s no such thing as not investing/gambling. I guess you’re invested in the dollar. Clue: It ain’t risk free.
Life is a gamble. When you cross the street you’re betting your life that you can get across alive. With the right knowledge you can cross/invest/gamble. There is no choice.
There is no choice about opting out (except for life)
Why should I give a fuck about what you did with $90? I know it involved a bathroom stall and a tranny with a tongue ring.
All I wanted was a face ripping bounce to re-position and take some new shorts. All I wanted was a chance…
I think you had ample warning in the PPT and on these boards.
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I still have pruning in the LT to do. That’s all.
Quick show of hands:
Who won the “Rick Ross Lottery” theme?
My very favorite part of the site. Its a great addition. It fits the tone of the site. Kudos to whoever thought that up.
I got a guy wearing a Carol City medallion.
btw- If this is the Carol City in Miami, I used to go cruising about there back in the ’70s in a Ford Falcon with a three speed manual transmission.
Winner winner chicken dinner. I wish I could save it as a permanent theme.
Can I make a prediction here, or more like talking out loud? I know it will be months of bad news and shit, but I think Europe is heading to fiscal union which will be fucking bullish as shit for the EU markets when markets get an inkiling that will happen.
Follow my reasoning.
There were local elections in Germany this weekend in which the right was slaughtered. The germans are made as fucking hell at what is happening in Europe… all insane like so they are thrashing out.
The left wants fiscal union. The right? It doesn’t know what it wants. However they can only move to a union once there is a serious crisis and that fat lard-ball Merkal can use the crisis as the reason.
Fiscal union also works for the German right because at least they think there will be a supervisory body in Brussels that watches over their spending should they lose power. So Lard-ball will eventually go for a union.
As I said, this will only become obvious in a few months or so of crisis or even perhaps shorter. They already got the greenlight from the ECB in a speech made by the ECB prez tugging that way.
What that means is that the debt position of Europe won;t be that huge in a consolidated format. When that happens buy the shit out of Europe as its going up perhaps 30% from the lows. The problems in Europe are politically structural and they can be solved politically.
What are the tell tale signs.
The Euro is not collapsing when it should be, which means China is a bid here, seeing its diversifying away from the buck as it said it would.
The Euro should be touching 1.30 today but it’s not.
This to me means that there’s shit going on we really don’t know about and China is taking a bet there will be fiscal consolidation in Europe.
Thoughts out loud, that’s all.
I am not so sure about that one.
Yes perhaps you’re right, they either consolidate or they’re fucked. They may choose the “fucked option” though.
I’ve read Credit Suisse’s call on this a few times and they keep saying that an uncontrolled separation for Europe will be twice to three times more costly as full on integration.
If you look at the integrated budget position, they would not be that badly off with around 80% debt to GDP ratio. They would actually look stronger than they do now.
But this would be months away though.
Oh and Fly….
They could even do it with a haircut too. That would mean the force a haircut on the bond holder, bring the debt down a little, the euphoria of consolidation would help them recap the banks too.
you know if they managed to get to that point it would look so bad.
Problem here would be more political than fiscal.
Not sure after the PIIGs meltdowns that you are going to convince the stronger countries that “full bore integration” is the answer.
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J – I agree that’s the easiest path, but I think it’ll be one hell of a crisis to get the politicians to that point.
That’s where they are heading I reckon.
Germany is in Stagnation. China’s major trading partner is Germany. Germany is a lot weaker then most think and can not save the day. China tried to save the day in 2009 but since then said screw that. China has a lot of problems too.
rofl..Stagflation..but I do like Stagnation better.
This would require well off nations to willingly take a hit to their own debt ratios, take on other European’s weight, and cede sovereignty.
And, oh yeah, historically most European countries have hated one another.
A liquidity crisis, which is what has been going on in Europe, strenghtens the currency at first. The collapse comes later. J, you’re missing at least one step in your take, IMHO.
Been looking for it for the last few minutes but the former chancellor Gerhard Schroeder has called for the formation of the “United States of Europe”. ASAP
“it” being the article that I saw the quote in….
Got the B+ game going on the holiday here while I laugh to myself at my 90 year old mother in law scarfing down pizza and breadsticks. She is like the energizer bunny.
Here it is.
http://ca.news.yahoo.com/former-german-leader-calls-united-states-europe-152550361.html
Scary!
but I ain’t buyin any of that.
Best of luck with that.
GIG
Gold is God.
What go’s up comes crashing down 3x faster than it went up.
I sold out of my longs last wednesday at highs (luck). I got long Friday on close with some TEX,KRA,FOE, and HUN… my thinking was that the 20 day moving average (1173) held and we reverse higher. Europe had other plans for me.. now the only question is do Futures recover or was today just the beginning.
As Brother Minh was wont to say: DIDI MAU!!
Here’s my other prediction…
BAC walks from Country Wide and could so as early as this week.
umm how do they walk from countrywide? they are countrywide, they own its obligations. i doubt anyone would buy it.
What do you mean?
Countrywide is a sub with its own balance sheet and such.
BAC is not, or a parent company is not, liable for a sub unless it’s guaranteed. Commercial law is very clear about not cutting through the corporate veil and no one should expect the bondholders who dealt with CW before BAC bought them to score a windfall as a result of the acquisition.
Lawsuits will reach back to BAC. Count on it.
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i believe that too Jake, but i can’t believe uncle Warren didn’t know about the lawsuits before he jumped into BAC. Just makes no sense to me. He is tight with Obama, and insiders, so he must have known what was about to happen, or not?
Could be he didn’t get the Fat Cat Internal E-mail last week.
Or it got caught in his spam filter.
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@ J. The law isn’t as cut and dry as you are assuming. I agree with JakeGint, the current and potential lawsuits will reach back (at least enough to force a juicy settlement). But I don’t disagree that if they choose, for economic reasons, that they want to shed Countrywide that they will in fact do so and just assume to settle the suits… It’s a business decision, not a legal one (the cost of holding Countrywide as compared to the loss in settlement). I think Buffet is betting this decision goes in favor of shedding Countrywide and thereby improving BAC. At least that is my take on the issue.
Hi Ryan
You can sue anyone. However the success of reaching the parent company in this case isn’t great.
I’m not sure US courts will take kindly to the suitors thinking they can just sue and win a lottery ticket.. with the lottery ticket being BAC.
Bac never sold them that crap and weren’t there when they bought it off CW.
sick.
We open up and go higher tommorrow. This is just the media trying to scare us. How come the poorest people in America are the most obese that’s not a crisis. When people start dying of hunger chats a crisis.
Lol, it’s mostly true
ESO
mutabaruka: The poorest are the fattest because of the kind of food they eat. Low cost, high calorie, high fat. The cheapest way to eat.
Always ask yourself are u better off than you where ten years ago. If so no crisis. I wouldn’t want my life ten years ago.
Was that when you were living in Liberia, dodging arm chopping revolutionaries?
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I’m at the pool enjoying the fruits of a unionized labor pool and you fuckers are harshing my mellow. Knock it off!
ROFL.
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“Harshing my Mellow”…..fucking classic
LOL.
Fly…Is it finally here? You know I have waited so long for it. Clam is on Thursday..this is his last chance…but I still have his spine.
And he still has a trillion dollar boner
No money, this is not Sept 2010.
Maybe not the trillion but, still the………………
You are like a domestic violence victim. I keep beating the shit out of you but you keep coming back for more.
The Clam is almost dead. Unemployment will be flat because everyone was fired in 2008 and never hired back. Core CPI moves up as soon as QE is mentioned..he can’t QE with Core going up.
Fly,
Would it be possible for the IBC i-Phone App to incorporate a comment section similar to the actual website? I find myself going through Twitter to read your posts merely for the fact that I can see who responds to who and what not. The comment section here at iBC is one of the best value added sections on the web and I believe it would serve you greatly to at least consider it.
When Barry packs his last box in the oval office, of course taking all of the ink pens and stationary, and walks out of the back door into the waiting limo to Perry’s inaugural address he’ll be thinking of how to take care of that guy who is about to publish the “tell all” book. Should he pay him off or make sure he ends up face down in a ditch outside of Gary Indiana?
When he leaves the oval office they better make sure everything is nailed down. He’ll probably be like LBJ cleaning out Air Force one after it flew him home to Texas in 1969. I read that he even had the presidential chair unbolted and taken off the plane.
“Harshing my Mellow” has to go into the iBC dictionary
Old school.
Warren of Buffett bought BAC preferred. not common. He is basically getting 6% guaranteed by the government and the government only pays like 3%. BAC could go the route of GM if housing has another leg down. People are going to leave mortgages by the millions…..my feeling is that we are on thin ice.
It is not 2008. You pussies are making me want to buy Monday morning. I work for a fortune 100 company and we are rolling. This reminds me of the deflation posts of last fall.
Brilliant! Be sure to report back on how your trades work out. We’ll all look forward that Fortune 100 wizardry.
Indeed I will. Up very nicely today. Only make day trades and by the way, you missed the point.
Short term Greek debt now yields 50% – is that a hint of a problem not solved? Italy has Berlusconi at the head – he makes Obama look good. Do the German people really want to subsidize the Greeks? They are going to vote on it.
Germans voting to subsidize the Greeks?…..about as much chance as a cat in a dog pound.
In fact…..similar type events have started wars in Euro land.
Color me waiting for the whole continent to become incontinent and shit all over itself.
curious le fly – when will you cut wnr loose?
dude….
The great bear bluff of fall 2011.
Sentiment is too poor, bonds and gold are bubbling; we are at or near the bottom for equities, I can’t imagine selling or going short here. Look at put/call, ise, etc.. Too many people are hedged for another 2008 style liquidity collapse, I don’t think it can happen.
Oh it can happen. Will it happen is a different topic.
One of my favorite Richard Russell sayings is “The market can do anything.”
I am the karma fairy I have come to give everyone who has commented a thumbs up.
crashes do not happen when market is oversold…when slope of hope contrarian indicator tim knight is having a party celebrating before market has even opened I know its time to get long. S&P makes a higher low tomorrow and we rally..
Remember in ’08 when everone was expecting a “Bounce” …waiting to fet short again AND F–k Dumped abither 300 points ?????
What?
Something about how he dropped his greek salad and the feta cheese went all over the place.
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depends om yout time fraame Bro..,
going down..check out the spy /weekly “weakly” chart
GOING TO 1039.00 HIVE OR TAKE FEW HANDLES
Give or take a few Gandles?
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Tomorrow could be a fantastic day for me if only dia, nflx, mcp will crash and burn, EUO kicks ass. I will buy new floor mats for my BMW and afford to have my dog’s nuts cut off.
Bidding on a beautiful dognut necklace starts at 25 dollars.
Pete, get in on this offer, you could certainly use a good set of balls.
holy crap, is there no-one here who can spell correctly? 4 out of every 10 posts have words that are jumbled, and I hate re-reading posts!
Learn to type people.
P-E-O-P-L-E.
How was that?
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Pete doesn’t have to trade if he doesn’t want to. It’s a free country. Everybody needs to follow their own path in life.
How to stay more liquid with PM’s in a volatile stock market period.
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OEW Weekend Update:
Support for the SPX is at 1168 and then 1146, with resistance at 1176 and then 1187. Short term momentum ended the week extremely oversold. The recent rally from SPX 1121, Primary A, took the form of an abc (1191-1136-1231). Wave c was 1.382 times wave a. The total rally was 110 points, and we labeled it Major A. Normal retracement levels for Major B are 50% (SPX 1176) and 61.8% (SPX 1163). On Friday we hit right in between those two levels, which also represent the 1176 and 1168 pivots. With an extremely oversold short term condition there is a good chance the market will either bottom here, to complete Major B. Or, rally and then make a slightly lower low for a positive divergence low.
The current decline can go all the way down to the OEW 1136 pivot (spx 1129-1143), which was the previous Intermediate wave A decline and not change the potential Major wave B scenario. However, if that pivot’s range were to fail then the alternate Intermediate wave iv high at SPX 1231 would come into play, and the market would then be in Intermediate wave v of an ongoing downtrend.
OEW Holiday Update:
“The SPX closed at 1174 on Friday. [ES is down 27 @ 1142 at 2:20am 9/6] This is below the support zone (1163-1176) of a normal pullback after the abc rally (1121-1231), and well below the OEW 1168 pivot range. Important support remains at the 1146 and then 1136 pivots. As reported over the weekend, if the SPX breaks the 1136 pivot we’re probably dealing with an Intermediate wave v in an ongoing downtrend. Should it hold the market should rally.”
Tea..On Friday I had “At this Point SPX first support on the Daily multi Month is at 1173.67ish, next spot is 1159.44ish, and last we are back testing the 1138.34”. For myself, Market is finishing up that stupid bullish time of about 20 days that I had to deal with, and posted about around that time. This week is Bulls last Party..Next week its down, down, down.
I thought it would be fun to see how numbers compared to the ones I am watching. Also, RBA was really not as dovish as I thought it would be, The RBA was just a “wait and see” on the global economy.fwiw.
I really dislike the Swiss. Bulls, go have your fun.
Oh you have not seen anything yet little girl.
due to mondays’ holiday closing,head fake tuesday will be switched to wednesday. this has been a public service anouncement
Fuck!!!!!!!
Euro/Swiss has moved 10% 2 hours into European opening as a result of massive Swiss National bank intervention.
The US dollar is weaker as a result of this intervention because the SNB is buying truck loads of Euro against the Swiss but it obviously still has an impact.
Thank God for alucard….ERY to the moon !
With the Swiss national bank now saying they will print unlimited Swiss francs to hold down the value of the Swiss franc a currncy with a hard as nails board governor is the RBA.
Aussie should be on everyone’s mind as the long side of a trade when you think of risk on trades.
BHP and RIO, baybee!
(when they settle, of course)
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The computer boys are trying to scare you out with a FAKE big early decline on Tuesday-
after European markets were UP!
Looks like a good time to buy TNA calls- early in the Tuesday session.
Nevermind they were butt-fucked on Monday…
Uhhh, Germany and France are both down more than 1.5% after yesterday’s total bitch slapping.
FAZmobile closing in on +8% in an hour and a half of trading.