Early this morning, I sold out of LCC and AG, upping my cash position to 90%. I believe this is my highest cash level ever, or since the tragic days of 2001. Back in 2008, I was all in short.
I still own a small position in GSVC and WNR.
Also, to hedge that, I started a very small position in ERY, with a tight stop.
My position is simple. I have zero interest in trying to time the next rally. In my opinion, we are on the cusp of capitulation, whereby overzealous bottom fishers get “machine gunned” down in unbelievable fashion.
I am rooting for the bulls; but I am the fuck out of this tape and will revisit it later next week.
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Long and strong and looking forward to the eventual merciless snap-back rally.
90% cash is for pussies….
I’d rather be a rich pussy than a poor hero
idiot
Nice jacket. And you are right, I am being a pussy.
fucking right i went to 100% cash 2 days ago, the shit hasn’t even hit the fan yet and were down to august lows.
90% cash is for a pussy….
so what are you in, tough guy?
Soon we are going to have to rename you “TheVest” because you are going to have your arms ripped off.
Enjoy!
LMAO
90% cash? Dude, don’t you feel sorta naked?
after getting out of the tuxedo yesterday that “the fly” insisted we all wear, i too, sit here in my undies and rue21 t-shirt, unable to decide if i should wear shorts or my mardi-gras hat and sunglasses.
I’m about to suffer mandatory 30 day holds on all trades, starting in October. So for today, I’m going to buy a big pile of AGQ and sell it by then.
I’ve got orders in for AGQ right now. Thanks God for the stop I set yesterday on my buy at $175.
Absolutely unbelievable.
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Solyndra – Transparency we can believe in!
Obamagate has just begun…
fly..
please with all respect
you keep over reacting to these moves.
you get so apocolyptic on the bad days and you get excited when we rally
you promised us a few weeks ago you would short into any strength and we went up almost 8 straight days, but instead of of shorting you bought vmw.
now to go to all 90% cash after two massive down days.. and a gap down… with tick readings at all time highs makes no sense
for the record ,, i sold my qid and faz yesterday..
i am now deploying some cash.. bought lots of fas this morning at 10.1
It makes plenty of sense FOR ME. My style is not yours and your style would likely seem idiotic to me.
When the bathroom is flooding, you don’t fetch towels to absorb the water. You shut the water off.
In hindsight, you are 100% correct. I SHOULD have been shorting last week; but I didn’t. So, the best thing for me to do, after misreading the tape, is to clear the decks and opt out of making big bets on a Friday afternoon.
well said..
my father always told taught me to slow down when you are not in rythem with the market.
and ive been there plenty of times myself
it wont be long until your crushing skulls again,
and to still be up 4% is quite solid
My Dad taught me to just keep buying EJ Korvettes and Bell & Howell.
Didn’t listen because the two went out of business before I was 15 years old.
He thought Montgomery Wards and General Motors were pretty good also.
By the time Fly visit’s Europe this November, I’m sure he will be able to find some former french banker who’s willing and ready to Rickshaw him around. That is if they don’t all jump out the window like this
Er:
http://blogs.voanews.com/breaking-news/2011/09/23/south-korean-banker-jumps-to-death-amid-probe/
Must feel good. I am tempted to take profits in my oil puts I bought when crude was at 90, but I will let them ride to 75.
I refuse to post, invoking my 5th amendment rights.
He who fights and runs away will live to fight another day – Demosthenes 338 B.C.
Grab your balls and BUY!!!!!!!!!
Everybody knows crashes happen in October – NOT september!! no worries. Trade accordingly
He who fights and runs away is a fucking pussy..
I’m not getting into a pissing contest with someone who has shit-for-brains.
We will see 1140 shortly. MARK IT.
Don’t break out the champagne, yet.We got a little bit of a bounce going on, but I think will see 1100 before we see 1200.
Don’t hate me cuz im beautiful, shorty!
This market is busted. It has been for 3 years but no one cared because it was going up.
We need a few 1000-point days to get everyone’s attention that the HFTs are controlling the market.
Valuation means nothing and predictive powers of the market are no longer valid.
shorting into strength for MONDAY gap down
just sold half of my fas mobile at 10.5
4% in an hour
keeping the rest of it
Help me sort what this means. My wife and me listen to rap and RnB never rock. When she woke up to go to work she played the following songs.
Mr. Brightside by the killers
You gonna go far kid by the offspring
Spirit of radio by Rush
She’s never played a rock song for ten years I’ve known her and the seven we have been married. She never said a word to me which is rare.
she finally grew up and got some class?
Start with grammar lessons and go from there.
start with polishing my knob and go from there
thx
I have been married 35 years and the last time my wife and I actually listened to a song together was NEVER.
The polkas at our wedding don’t count because I had no choice then.
I always let Mrs. Gint sample the music before I put it on my blog (if I’m featuring a vid).
She really liked that Save a Prayer ditty… been a while, etc.
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Note to those who think caution is for “pussies”.
Some of us already have money.
We would rather like to keep it.
To those who don’t have any real wealth it is much easier to gamble and brag afterwards………..or more likely to disappear silently into the mists of the internets…….
Agreud, Honorable Question Mark.
Amazing how many knuckleheads feel that they’re qualified to question Dr. Le Fly. Unreal.
The Fly is God.
The Question Mark has spoken.
Plowed 100% into PCX WLT ANR yesterday OTM calls and stock…. Holding like a champ.
Nice. Dancing on hot coals is fun until you realize that you’re the main course.
I’m going to rake over the stocks later this afternoon to decide whether to start a position in some of the met coal names. The Dallas and Chicago Manufacturing Surveys on Monday may provide some ballast to this market as I suspect that auto sales will provide strength, which in turn may help some basic materials stocks. GM has a plant in Arlington, TX and they reported double eps growth at the beginning of August.
watch the tlt’s today
if they continue lower we may be in store for a solid short covering rally
if they firm up then the rally could be short lived
1140 friends, as foretold by El Huggo.
Caution is good. I have blown my shit to smithereens by going madman into the wind. Trading is not like downhill ski racing. We haven’t seen a big flush yet. Until said flush, I am staying in a large cash position with a small short bias.
let this be known as “le fly is in 90% cash, rally”
guys
RBN could be a name to buy for a swing trade.
as long as land based rig counts are up they will be fine..
they usually come back to this one..
like it at 36 and change
New indicator… when Fly goes 90% cash in the face of all time PPT oversold signals….buy buy buy..buy the Fly’s fear…
New indicator… when Fly goes 90% cash in the face of all time PPT oversold signals….buy buy buy..buy the Fly’s fear…
New Indicator… When TheJacket posts the same shit over and over and over, clear he has no life. STFU already!
Fly got tossed around like a bitch this week
BANNED
BANNED.
Who’s next?
John Wayne is fucking dead and so are many of those brave babbling fools of 2008.Live and learn.
so much for “le fly is in 90% cash, rally”
eezy come, eezy go
Rome wasn’t built in a day. It will probably take more than a couple weeks for it to collapse.
Nothing has changed for the better. We are bouncing around on fumes. The big picture is still very bad and not improving.
pressing my luck….FULLTARD SHORT going into weekend.