Cramer and Faber’s pump of Morgan Stanley has fallen flat on its face. Their pump caused the stock to spike 7%. Fast forward a few short hours and the stock is down 7%. Make that a 14% reversal for the Cramer crowd. Because of this, amongst the carnage in anything related to China, stocks are spiraling lower.
I took a shot, buying WNR, TNA and IPGP. But I should have taken a shit instead. I am still short EXH and my cash position is about 68%. But this is not what I expected, needless to say. We are so oversold right now, the market is in danger of cascading lower. The level of pessimism is so contagious and absolute, there is a certain air of finality about this market. I regret buying stocks this morning. More so, I regret covering my shorts in TROW, NTRS and LM.
I took a small shot and lost. Time to regroup again and figure out how not to kill myself next.
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people listen to cramer…why..? he is a full on retard of Greek god proportions…
These are the type of people that get listened to these days, unfortunately.
We are all right until we are wrong.
No one person knows shit as to the short term direction of Mutha Market.
Technicals and even Fundies are there to make us feel all warm inside on our BETS…still better odds than Vegas…I think.
Your flip flopping is getting crazy. I don’t know why you are causing this unneccessary stress on yourself, and the people that look up to you as a person to gain advice from.
He took a small percentage bet this morning. Relax.
________
I am not flopping. I have no sold anything yet. I covered shorts and took a shot for an oversold bounce. It missed and here we are.
This is not very hard to understand.
bet against me and you’re dead. fly got taken out to woodshedder. my only hope is that they have a burlap bag over your head
Banned
It’s all about leverage, timing and strategy.
“I’d never get ahead if I didn’t put my head out sometimes,” said the tortoise.
Well played M. Fly, no risque, no profit.
Fly is on a cold streak. Some rest may rejuvenate him.
I bought TNA at 29.17 if anybody cares.
You’re banned too fuckface
Go2jupiter, not u
been buying TNA on the dip . watch the market rally like never before. I called it early. come back and thank me soon
Maybe oversold according to the ppt (disclosure; I am not a member so I don’t know). But not so oversold according to the ARMS Index and the Stochastics, for example.
ARMS Index on the NYSE and NASDAQ at 0.36 on both intraday. The lowest reading on both was 0.11 and 0.12, respectively, in Oct 2008.
Stochastics on the $RUT at 14 and 24.
Bottom line, there is room to go lower on both of these indicators even though they are already in oversold territory. Not sure how much lower and how much longer prices go down but there is a good buying opportunity coming up in the next week or so. Just not today.
rsi doesnt show oversold. not today or next week.
the 5 day rsi is oversold. 5 day rsi works pretty well short term
Look at oscilators which are 0-100 bound in a trading *range*, not in a downtrend/uptrend. The thing can stay a long time in oversold. Took me a while to come to appreciate that.
I definitely agree with this 100%! in fact, I’m holding puts. just because it’s oversold doesn’t mean it will not get more oversold.
Nymph still doing the Chaa Chaa. This is going to be a fun week. The Global PMI, which no one ever talks about came out at 49.9, that hasn’t happened since June 2009 I believe. Our Congress is trying to bitch slap China when they are on vacation (we knew about that last week, and I am still ROFL over it), the ECB gets to decide how much of rate cut they are going to do at their meeting..ah, can you say Stagflation..for me and My little US Dollar, we will have to endure the Bulls fighting for their 1100 and 1200..so we dance.
I mean 1120 resistnce…that 1200 level is just a bad memory for the barely bear Nymph.
oih holds up well today
-3.5% is holding up well?
The market is trying to join Mark Haines in the afterlife. The stock market was doomed from the moment he took his last breath. God rest his soul.
Smartest thing I’ve heard all day.
this is way too easy
you fucking retards buying TNA
we need a VIX and ADV/DEC divergence before we will rally
Read this Fly.
But, don’t forget, men – when we get ’em on the run, we’re going to go, go, go, go!
They can’t lick us, and the best time to go.
The first who’s gonna, men, go in there and FIGHT, FIGHT, FIGHT, FIGHT, FIGHT!
What do you say, men!-
Knute Rockne
Now get out of that leather chair Fly and KICK SOME ASS.
P.S. Don’t make me bring out Vince Lomabardi
That’s nothing. Cheer like the All Blacks.
http://www.youtube.com/watch?v=z4LNjNXt1yM
Yeah Fly.
Do what Riggedgame shows.
Don’t just accept your fate.
GO GO GO GO GO!!!!!
Fuck you Caddy
Still odds on favorites to win the WC, but losing Dan Carter is a huge blow.
All Blacks do find new and imaginative ways to piss away the World Cup, so we see if the tradition continues this time.
They looked pretty dominant against the Canuckistanians Saturday.
______
Sounds like someone watched Rudy this weekend?
I know I did.
Me too. I didn’t know shit about rugby beforehand, but I think I now know most of the rules and SOME of the strategy.
I still don’t understand why they punt it away sometimes from midfield when they are not under pressure.
It’s the only way to advance the ball in big dollops… If you kick it over the fullback’s head, you can sometimes pick it up on the bounce and run in for the score.
My favorite is the drop dribbler to the corner… by rule it rolls three times and then bounces up… right into your hands.
God I love that game.
_____
I missed it.
When was it on?
I couldn’t believe it when it was on several months ago and my wife said she had never seen it.
She cried for about 30 minutes.
Was on Saturday on the CMT network…my wife found it too.
The music makes the movie.
more on BAC
http://www.usatoday.com/money/industries/banking/story/2011-10-03/bank-of-america-website-down/50643840/1
Bullish “Bulkowski’s Big W” pattern is still alive in SPY daily chart. But, just barely. Ultimate target would still be Dow 13300+. First part of move would be a 1400 or so parabolic move up into thanksgiving. But, it needs to start in the next 9 trading days.
Plunge in MOO agribusiness sector is fundamentally absurd. Anyone really believe agriculture consumption has fallen 30% since March?
May be time to put on your “jim rogers” clown bowtie, and buy some fertilizer/tractor stocks
deflation in food prices and gas prices have been “sharp” in the last 2 weeks…….why buy ag now, growing season in this hemiphere is coming to an end. and too early for winter crops
That is one sloppy big w or bollinger bottom, your trading on hope with that one. The Middle peak alone is unacceptable for a w pattern.
Sometimes they “ring the bell” about 2:30 after the market has been on a lengthy losing streak.
Or try this. This Rally Cat always works for the Rays.
http://youtu.be/ft3wGg6WbPQ
Speaking of, how ’bout them Rays? I’ll be in the stands tonight, close enough to swipe Kochman’s hat.
I’ll be watching.
David Price can redeem what was for him was a mediocre season.
I think they have a 2 PM start time tomorrow.
The question I have is MLB pissed that it’s not the BoSox.
They are giving them crappy non prime times.
Just for that I hope it’s the Rays v. Brewers in WS.
You’re telling me. ESPN spent all day last Thursday and Friday discussing Boston NOT making it… nary a mention of the Rays, of course. I enjoyed the festivities last Wednesday and plan to enjoy them tonight (and tomorrow if I can slide out of work)
fly
to play the makt at this point individual names is useless. the only thing they provide is lower liquidity..
etfs and indexes at this point are all you need. we can work on ind. names when this thngs settles down. until the only thing that is important is up and down.. and picking sectors correctly
The day/week is not over yet. I bought TNA calls and TZA puts today…gonna make a killing by the end of the week.
Mr. Fly is right on the money.
Keep a strong pimp hand, bitches!
Indeud.
I dunno…..I’ve lost a touch of faith here as of late – Im up 60% on the year currency wise…and am not sure how stock guys can’t have seen this (not only coming) steaming full bore to the downside.
I didn’t think ‘knife catching’ was a trend here…but am absolutely shocked to see interest in even the tiniest of buys.
Sideway ‘bear flag’ of last weeks….resolving downward…then retesting…and failing…and zero liklihood of any earnings surprises etc..
Man..
i cant understand,why you cant understand
Bunch of bitch ass comedians here today. Well fuck you I don’t need any of you. I will ban all of you today.
Fucking wiseasses.
my comment was sincere .. just my opinion
the fly pisses on these kinds of numbers pffft. mother fucker always wins when you think he’s loozzzzing
fuck, might as well occupy wall street with my pimp mobile
dude……………..what……damn yuz fast
If you just want to be banned, all you have to do is ask. It will speed up the process here. So far I’ve banned 1,000 to date.
Need a counter on the side of your site.
“1,000 banned to date and counting.”
This would be the best widget (or whatever it’s called) yet.
We could keep track of it like mileage on a car.
Caddy, great idea on the banned counter widget for IBC website…terrible idea we had to go long BAC this morning…
You talkin full on bans or just the Greg (guy with the pipe) Solomon ban.
RE, the market…….I keep on tellin yas guys, it’s all about investor and consumer confidence…..(that’s aboot for you Canuckistani’s). There is very little confidence in anything left anywhere so it will at some point come completely unwound.
The Fed…..who knows what their game plan is. They aren’t going to help and they have expended nearly all their ammo.
Congress? There is not enough intelligent life there to accomplish anything meaningful. They wouldn’t know the answer if it slapped them in the face like a hot piece of pizza.
0Bummer? …..surely you jest……
goddamn it!!! whazzz up wit dat
You don’t fuck with my Grandma first thing in the morning until after her two cups of leaded coffee and you don’t fuck with Sir FLY on days like today…this should be obvious.
it’s not the end of the world.
any fucker who post here is banned (and branded), fucking no exception !!!
They didn’t ring the bell at 2:30, but for some reason my TNA is holding up at 29.86 even though the Dow is worse than it was at 2:30.
Check your quote machine it may be frozen.
“Understand that YOU Know Nothing”.
I also bought more WNR.
no more dry powder…all in on wnr at about 15.75 :(…wnr is so far up my ass I just have to sit here and take the fucking IM getting!!
I’m writing my plan down in ink, and sticking to it. Recessions are gifts.
The waiting is the hardest part… T. Petty
I want you to wrap Recessions up and give it to me for Christmas !!!
Coal for you…S. Claus
I am pretty sure I am going to shut down the comments section. You fuckers have had it good for too long.
Ask yourself, would I carry on in such a way if I was invited to Flys house?
Would I mock his investments in his house while drinking his ambrosia?
Fucking disgusting little people.
If someone came into my house and said what these dickheads say to you here, they would leave my house minus at least one limb.
they are not leaving my fucking house !!!
Holy moly, that just confirms it – jose mann is a serial killer! Haha.
Since I doubt you would call visitors to your home “goat fucking misfits”,”bag-holders” and “heinous jackasses,” it seems that visiting ibc isn’t quite like being a guest. Visiting here is more like mingling noisily underneath your window.
I very much like the fireplace video in place of comments.
10 stars ^^^
Just went long myself. Not expecting the world from it. But, a bounce I will take if the wanker stock gods will grant me it.
fly.. everyone is on edge here.. not everyone is still up on the year,
pay no attention to the masses.. just sit back and let the morons drive your site traffic
Fly has got it right……..chill chill all….live to trade another day.
Lets just buckle up, regroup – and get ready to knock er outta the park antoher day!
Buy OTM puts on SPY and/or other indices.
http://www.youtube.com/watch?v=lAOMzTct1EM
Anyone who disagrees with Fly that this is a fucking insanely hard market to trade is a liar and a vagrant. I totally understand the difficulty of shorting – which is why I love TLT. This is not 2008. There are no easy targets, even if the market does grind lower.
Its fun kicking Bill Miller down the stairs via Short LM Down 7.3% on the day 🙂
Via sentimentrader Could be 4th time S&P lost >-2% to end a month AND begin a new one. The other 3 returned +19.6%, +11.4% and +13.9% during the month.
just like saying the last three heart attacks I did not die, what does it have to do with the fourth ???
A lot of funds are programmed to trade statistics. A stat like this may lead certain funds to go long. Money on the sidelines may come back into market.
FazMobile up 11%…beep, beep
This is the best blog sequence ever writ. All the peter-puffers having sensitivity issues, hissy fits like infected french pussy, threats, charges, counter-charges…… Can’t wait for the pansy asses to get in a fist fight(if that’s what you dare call it) It sure tells you something when the biggest balls on the blog reside with Nymph!
not to mention her ample chest !!!
please please please…..stop considering going long.
really.
What is the catalyst to weaken the dollar outside of Fed intervention
Lovely close. Right at the lows. Should set up a nice rally tomorrow after a little more downside action. I’m think SPX 1080 and then a move to 1120.
i had 3000 shares tza on the open sold them right after the ISM number for about 20 cent up from the prv close thats really fucked up I can not believe to my self and thats after the all weekend i was talking to my self saying i wont sell the positin before the IWM gets to 59
damnnnnnnnnnn
$FAZ.
sure sounds like someone has a case of the Mondays. I would totally bear-hug you if I could.
totally
Yeah, and then drop him the lotion in the basket, right?
_____
Got the Yule log on Fly’s next blog post…reminds me of Christmas.
This market reminds me of when Cortez landed in Mexico. The natives had their minds blown. We are in a similar market condition. The natives are getting their minds blown and are trying to grasp the new order.