iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,460 Blog Posts

Crashing Carpets

Fucking great. I am on the road and can only laugh at my idiotic “Obama to the rescue” post now. Since I posted my magic carpet shit, the market is down 150 points, in a straight line. Sometimes you get unlucky and others times you are cursed.

Nevertheless, in the big scheme of things, we still have half of yesterday’s gains intact. But, THE MARKET MUSTN’T fall much lower from here, else it’s cascade time, yet again.

We are walking a very tenuous rope and there isn’t much in the way of a “fuck you, you’re dead” sell off.

For now, I am holding, but watching closely.

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35 comments

  1. ActionJackson

    Fly is God

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  2. alf44

    .

    SHORTER THAN VERNE TROYER !!!

    .

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    • Bill Johnson

      I thought you were always hedged?

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      • alf44

        .

        ~ 56% SHORT
        ~ 11% LONG
        ~ 33% CASH

        .

        So … YES … small “hedge” in place !

        .

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      • alf44

        BTW … “Bill Johnson” … for the record what I actually said was …

        “I am ALMOST ALWAYS … BOTH … LONG and SHORT !”

        And, that I trade with a bias !

        THAT … is what I actually said !

        .

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    • Bullrun

      38%…?

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    • Bullrun

      Still have your FAS?

      If your going to call out your moves at least call them out and in a timely manner otherwise it’s to easy bullshit.

      So do it or don’t do it, but don’t do it half assed!

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      • alf44

        Sir … I posted my positions AND allocations first thing this morning !

        Check Fly’s You Want Crazy ? blog !

        It’s all there !

        Jeeez !!!

        .

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        • Bullrun

          My apologies…Sir

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        • Bill Johnson

          Alf, why don’t you start posting your trades and put your neck out like Senor Fly? You may get more respect that way rather than making up percentages and relying on exCLAMation marks.

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  3. nomercy

    Keep your hands on the wheel!

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  4. Moonraker

    Hey Fly- I gotta fever, and the only prescription is more Bleier! Get that man posting more often, he’s been pretty spot on and I enjoy his take on market fundamentals.

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  5. Ultimate Bro Bra

    Don’t worry it CANT go any lower

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  6. HalfBloodPope

    The only people who travel to Amish country more than the Fly family are my parents.

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  7. Great Uwashed

    Things in Europe are so, so bad. There’s been a ban on shorting banks for weeks, for goodness sake. I think the market is aware that there’s nothing that Bernanke can do about this train wreck. Operation twist just won’t cut it – it’s going to take a nuclear option when the time comes. You can’t help the passengers as they’re careening off the rails. You have to wait until the wreck stops and then try to put band-aids on their broken bodies.

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    • drummerboy

      here’s an idea,let bb give 10k for every credit you have with so-sec.give “THE PEOPLES’ MONEY” back to the people for fucking once already. OY. wtf. operation twist, time to twist some heads. till they break off.

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  8. J Livermore

    Shorting Obama speech and vowing to faithfully implement trading signals from the PPT. 10k to 1 milly ? Wish me luck.

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    • drummerboy

      you dont need no stinkin luck, JUST THE PPT. THAT FUCKING THING CAN SAIL SHIPS ON DRY LAND YA’LL, WTF.

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  9. Yabollox

    It’s becoming clear that 0bama is going to propose more of the same shit that didn’t work. It’s really tough to admit you are wrong, especially when you have an ego trip job like POTUS.

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    • Raise taxes, Cut spending
      Raise taxes, Cut spending

      So the the wealthy “job creators” were supposed to take their billions of dollars in tax savings and create jobs. Didn’t happen in spades and bankrupted the gov’t in the process.
      Now the right wingers are proposing more of that shit that didn’t work.
      It is tough for the right wingers to admit they’re wrong, but they have been spectacularly wrong.
      They had ten years to implement their “theories” and have managed to destroy the finest economy in the world in that short time.
      It is about time for them to accept the blame for fucking up so badly, and then just fucking go away.

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  10. Steven Place

    Political relevance: http://i.imgur.com/EnInhh.jpg

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  11. JakeGint

    But, THE MARKET MUSTN’T fall much lower from here, else it’s cascade time, yet again.

    EXTRAPOLATE THE FLACKING CASCADE, Roberta Flackas!!

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    • drummerboy

      strumin my fate with his fingers…..la la la la..la la la roberta flackas i’m roflmao,thanks, i really needed that today…….

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  12. Ruben the Cuban

    I say we bounce into the close. Obama has to realize that if he doesn’t get something going right now, any chance at retaining the White House is gone. I’m holding my position, the only exposure I have right now is FNSR, which I got into at 19.29.

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  13. TraderCaddy

    Operation Twist should help the royalties for Chubby Checkers (Estate of).

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  14. Apocalypse Now

    Sold calls and TNA on this mornings quick rise.

    Expecting a short pop tomorrow morning on the $3B in pomo, and the post 3:00 front running has already started.

    If we open significantly down tomorrow morning I may buy TNA and a few calls @119 SPY for the quick $3B pop impact.

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  15. Hermes

    President Rick Perry gets the chinese animation treatment http://www.youtube.com/watch?v=s7eFwDdq2nc&feature=player_embedded

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  16. Trading_Nymph

    Ruggy, Can’t find you on Channel 13? Did some analysis on SEK and NOK in my diary fwiw, but need timeframe for support and resistance levels.

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  17. Dr Funk

    Maybe holding the wrong WNR

    WNRC

    WENR Corp.
    Market closed
    $0.18
    +0.04 +24.14%

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