I’m carefully looking over my books, dotting the i’s and crossing the t’s. Thanks to perfect, and I mean perfect, timing going long this market, I am now up 10% for the year, or 3%+ today. Just last week I was down 3%. While this may sound normal to some of you, trading junior accounts at E-trade, this is as dumb as a gay giraffe driving an ice cream truck to me.
I am looking at my positions in real time, as this market melts up, and it amazes me. I am not in awe of myself for making back what is rightfully mine. After all, it is my right to have these monies. Instead, I am frozen, unable to do anything.
On one hand, it makes a world of sense to take profits and go to the sidelines. But that seems so simple, doesn’t it? Almost a cliche. IF the jobs numbers are better than expected tomorrow, we may go on a face ripping run for the next month, forget about tomorrow. All of the stocks I bought earlier this week are up 15-30% now. If we rally hard into Thanksgiving, they will be 50-100% winners. That’s how depressed these stocks were. Names like TEX, WNR, CVI, IPGP and CLF have ample upside potential, especially considering all of the amateur short sellers stuck in these stocks. I warned you earlier, the market is taking the path of maximum pain. For short sellers, it doesn’t get much worse than this.
I am telling you these things, not to denigrate your plight or make you feel small. Instead of getting all defensive and shit, like a small bitch, learn from my experiences and take notes. Just last week, I was forced to ban and kill countless readers here on iBC due to substandard behavior exhibited while in my parlour. As you can see now, you were immeasurably wrong, while I was right–yet again. This lesson has been taught on iBC for almost 4 years now and will continue to be taught, as long as I am schooling you dog-fuckers how the world really works.
Word of advice: taking profits is not a bad idea, but shorting ahead of tomorrow’s numbers is madness. Additionally, you should make it a point to demonstrate proper decorum when visiting “The Fly’s” blog, for he is a gentleman amongst gentlemen. Plus, he’ll punch your fucking eyebrows off if you don’t.
UPDATE: I sold out of TNA.
[youtube:http://www.youtube.com/watch?v=xj9_I2Yr3L8 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
For us unwashed masses simply taking profits will be the way to go.
Thanks Fly.
what happened to the thumbs up/down on the comments? Those were very enjoyable.
Your blgo is tight.
I cut your thumbs off due to vagrancy deriving from the west coat of the United States, specifically San Diego.
Can’t you just ask Danny to drop by the blackguard’s IP address and beat him to death with a skateboard and Jager bombs?
You got the rest of us feelin’ like Eric Roberts at the end of “Pope of Greenwich Village” ovah heyah.
But then he might hurt himself.
Thumbs up, Bedbug Eddie style.
No surprise.
WestCoast. Youth hostile of the degenerates.
Indeud.
If “y’all” visit, it’s true culture shock.
Next time, take all the medication…
Not just the dose you’ve been prescribed, but the whole bottle.
And then permanently fuck off.
Do you drink white or red with your Rx Anton. Be careful, now, many deaths and 10.31 is near.
You’re awesome Fly, and I went long some commodity ETFs like NIB, JO, JJG, SLX and KOL just for a trade for the very reason you mentioned – they had been bludgeoned to death.
Oh, just an observation. Dunkin Donuts is selling its coffee at the Carrier Dome in Syracuse for $3.50 a cup and people are buying it at that price. There’s a Keurig machine in the library of the high school where I work and staff and students can buy a cup for $1.25. I laughed and thought of you, Fly, when I saw the machine.
I’ve been watching this ETF YINN, too; I don’t mind bottom fishing a bit.
I can get a Senior Coffee at Burger King for 40 cents. Just as good as this other shit, and the people in the restaurant are better than the arseholes in the Carrier Dome.
Oh, I was working in one of the concession stands for my childrens’ high school booster club and I thought everyone was quite polite at the Carrier Dome. You must be mistaking Syracuse fans for Yankee fans or some other obnoxious NY team. Point is, people are buying DNKN’s coffee at such an outrageous price in the dome, which holds 50K people.
A Senior?
Your over 47.5?
Too old to be here.
I am considering taking profits near the close, but it feels like we could have a more sustained run.
FML. I’m still short RIMM.
I can’t sell, these profits are too nice! More more….
cant understand how after u were down for the year and u r up and not taking profit that’s madness. imo even if the report tomorrow is good we’ll finish on the red. we might see the melt down starts here.
disclosure sold my last part long this AM and got spy short small amount.
And this guy is exiting NOK with a handsome fucking gain, all while Alexander;s Rag Time band has been playing the ROFL anthem loudly and indiscreetly. Were it not for my deep and abiding respect for the FLY Miss Manners Course I would tell all you peter-puffing ROFLers to perform unnatural acts.
Fly how about the PPT OB reading?
For members only.
im aware of that im a member what I meant to say are you ignoring the reading?
Are you the giraffe?
are you adhering to the SHOMP?
You are like Snake Plithken in Ecape from New York.
I just took some profits by selling my CVI. It’s up too much in a very short time. I could be wrong about this sale, but I’m happy with my 8% gain over 2 days.
New investment idea…should you buy or sell stocks—>
http://i55.tinypic.com/io12bq.gif
There he goes dumping some of his longs. Le Fly is a genius amongst stock traders. You must lock in some profits here unless you are a gambler.
Well Fly and probably everyone else melting up the market knew that Bank of England was going to go all QE Mad on us. Tonight King held his backbone and the England Clam kicked me and my little US Dollar. Now, people are BUYING the Sterling??? Why???? That sold our US Dollar hard after our Clam fucked us with QE. Yes, We are at 50% retrace off pounds 2008/2009 move..but why buy it? Anyway…I do have europe shrimps backbone, but this England Clam is on strong crazy mother…but it should go into the pot soon. For NFP tomorrow…Challenger normally is a better indicator imho.
I really should read thru, before I post..so word blind..anyway “That should be THEY”..and “On should be One”. ALSO, that Merkel/IMF meeting imho it was wishy/washy
You’re finished. I warned you.
Well, England is finished. Yes, you warned me..but I am keeping with my bear positions. IMHO, people won’t buy the sterling after it fills the gap. We will see. Hey, even when I am being run over by my faz mobile, I still have a stupid smile on my face.
A woman who denigrates herself.
Public humiliation.
2 Thumbs up.
I blog so if I screw up I deal with my mistake in public. Ruggyup…That Bank of England Huge Stimulus was a screw up on my part, I didn’t think they had the balls..or was as such a big a mess as their are.
Clarice Starling: I’ll cut you loose. If you touch me, I’ll shoot you.
Hannibal Lecter: Understood.
Clarice Starling: Do right, and you’ll live through this.
Hannibal Lecter: Spoken like a true Protestant.
Ignore the hoots and catcalls. Stay your course. SecT for Herman Cain is an ok spot……………….. for a while
So how come we’re looking for an upside surprise in the job numbers tomorrow? Has anything changed? What if we surprise with bad news?
Why is it not just as valid to not want to be LONG going into tomorrow’s numbers?
Time for one last push toward the 50dma (either tonight or tomorrow morning) and then a crap out sending us to new lows next week.
Expectations are very low.
We’re up 8% from the low just 2 days ago. I’m not sure what equity investors are expecting.
more
and more…
Back in BAC…I hit the sack…
I’ve been too long I’m glad to be BAC
Yes I’m, let loose
From the noose
That’s kept me hanging about
I keep looking at the sky
‘Cause it’s gettin’ me high
Forget the herse ’cause I’ll never die
I got nine lives
Cat’s eyes
Usin’ every one of them and running wild
Cause I’m BAC
To use AC/DC in this poor fashion, I would put lit cigars out in your eyeballs and use your mouth to pot well soiled dandelions. Tomfoolery and AC/DC are not allowed.
tutti scrooge…what’s the fascination with body parts and gardening? Bah hum bug!
Nothing will diminish my embarrassing gains today…half off the table.
Stay bitter tutti frutti…
What ever you say, rookie.
SHOMP tutti SHOMP!
DJIA, SPX, COMP, all up over 1% earlier with the VIX only declining 1.5%.. Be careful yall.
Vix is a trailer.
You be careful.
_____
“The expiration date on this market rally is tomorrow.” Written yesterday…
This… is… SPARTA!!
_______