The Will Be Rumors of Rumors
Miraculously, the market has just erased all of its losses, more than 100 Dow points, in less than 30 minutes. Why? Well, there was a rumor of a rumor that Germany wants not one but two conferences next week. Clearly, this means something substantial will happen.
This is the height of idiocy. Forget about my biases for a moment. Trading this market is too hard, unless you are trading on a 2 minute time frame.
Having said that, I am allocating 20% of assets into TLT, in order to park cash. As you see, I am not adding to shorts or longs. My beta is very low and I am happy. After this European crap-show is finished, I will begin allocating assets on the long side, in select names in the food and beverage sector.
The trannies are doing well and tech sucks. You’re better off throwing darts at a board, in favor of doing hard analysis in these convoluted sectors. I’m not lured any longer by big returns and promises of decadence. The new Fly is all about watching Iron Chef and partaking in retail channel checks to see how milk sales are doing in the midwest.
76 Responses to The Will Be Rumors of Rumors
I have given up trading. I now just hold a core assortment of international ETFs that seem to constantly dwindle in value.
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LOL, all hail to the New Fly. You’ll probably live longer this way I would think.
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You are the voice of reason. Very entertaining as well.
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Don’t forget that he also eats babies, assassinates despots, and has been known to remotely robo-sign loan documents from a distance in excess of 1200 miles.
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@Fly – Still think 5% up – 20% down?
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5% up, 100% down
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LOL. Indeud.
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Fly, WTF is 100% down ???
I am on margin, so I could possibly end up 200% down …
In that case it would be Indeud^2.
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Up the margin leverage and get yourself a bank charter.
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where is the charter application form ???
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it’s on the inside of the cracker jack box.
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Gaddafi has been killed.
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Indeud ^2!
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First time I’ve seen the photoshop art associated with this post.
Knights of the round table figurines swearing allegiance to the ppt bar code. LOL! Nicely done.
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You should pay better attention.
Our boy, Jeremiah the Bullfrog is a true artiste in the genre.
I would posit that almost every cover art shot has been photoshopped in such a manner.
Maybe even 75-80%.
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Nope. Henry the Fool now does most of the art work.
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I stand corrected. Jeremy has done quite a few good ones in the past, as I recall.
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I was saying I’d never noticed that *particular* one. Trust me, I never thought for a second that trucks in China were driving around with iBankCoin written on the side. Not that there’d be anything wrong with that.
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A common misunderstanding. Those trucks had iBunkChin written on the sides of them. It’s one of eight Chinese counterfeit operations that have been identified.
On that particular site, you can read the working of The Flea, CheeseNWine, and Jak Ghintsu, among others.
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ha ha!
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LOL!
And Mr Chin’s Tailor?
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Jak Ghintsu… writes about the sharp knife industry and the marshal arts stock sector, mostly.
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Been awhile since we heard from his assistant Mr Limm, though. 
Someone needs to shoot a firehose full of Ritalin at those HFT people
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Mr. Fly, a request if I may? When the market goes abck to red, could we get an appearance from Merlin? POOF!
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sure
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Fly 2.0
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IMHO, All of this is rather stupid. Our world has a massive infection caused by “my shanghai copper bubble”, it is very sick because the Drug it has been on since 2009 is being taken away from it. This focus on Europe is like just looking at its Kidney and saying, “Well if we remove one Kidney, the Patient may have some relief”, But OMG look at the total Patient, it is so sick and taking out a Kidney is not going to help at all.
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Your metaphors become increasingly tortured, m’dear.
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Jake…Its a halloween theme. lol. But, your right..Spines, Kidneys…ugghh. Just Ugly. Hey, Greece past vote just now, back to test eur/usd 1.3747 as we pop around, one day we will take out that VERY hard fibo resistance SPX 1120ish range..
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Nymph, are you bull or bear ???
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A dyke – not that there’s anything wrong with that.
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Better a dyke than a douche.
Back with a fresh rubber bag full of vitriol so soon, young LungSac?
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Alvari..Nope, not gay at all. Thank you Jake.
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Jose..Tomorrow is option Ex which is nromally bullish and the NYSE Volume I follow still has an upside bias in the short run. Eur/USD 1.3747 is a key point to watch tonight..along w/Italy bonds and 6%. Longer Term overall trend, BEAR in a big way, In April of 2009 I noticed a strong divergence of Copper buying and actual use in China, been following this bubble since then to learn about how bubbles develope and pop, amazing lesson.
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It’s a George Costanza market.
The Rules:
Buy the rumor that there is no euro meeting.
Sell the rumor that there will be a meeting.
Hold trades no more than 1 minute.
Do not give the TradeBots a moving target.
See?
It’s easy.
And always be sure to follow my vomit indicator.
… more like a …
Toonces … The Cat That Could Drive A Car Market !
.
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I’ve been looking at numbers and I’m as confused as Archie.
If even the good Dr. Fly is stumped, well, that makes me feel a little better. Throwing a few bits at AEM now as a nostalgia play–bought a ton of $40 calls in late 2008 that was my best trade ever. Miners are such loosers. Too freaking unbelievable.
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Fly keep an eye on wholesale food prices and the increases we are seeing. Last time we saw an increase of this magnitude was 1980. That was good for a nice recession…
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And a nice gold peak as well, if I remember my history…
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iron chef. no way, antiny bourdain maybe. hey, you can take up a new hobby.makin goat cheese,to sell to the goat fuckers with american/romanian heritage
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And speaking of Iron Chef.
That Cat Cora is one good cookin’ lesbian (not that there is anything wrong with that).
I just wonder if she is the man or the woman in a relationship.
ha ha they never let her win lol
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Never mind that, I can’t even tell which one is which?
Did she marry her sister or something?? bizarre.
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At least she found another use for her turkey baster.
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Oh sheeeit, nah yah dint!
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The “wife” looks like Chelsea Lately.
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Everybody should take this test and see if you are as big a looser (yes, looser) as the morons “occupying Wall Street.
And this comes from the lefty New York Mag.
http://nymag.com/daily/intel/2011/10/occupy_wall_street_quiz.html
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Monsieur… perhaps on the real estate front you are looking in the wrong direction?
Home, where my thought’s escaping
Home, where my music’s playing
Home, where my love lies waiting
Silently for meeeee…
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A casual observer (me) might conclude that Greece has already descended past the point of no return in the whirling maelstrom of economic failure. They cannot be saved because of the mindset possessed by the people themselves. Greece might be tolerable but if Italy or Spain blow over the edge we can forget to big to fail backstopping. Italy and Spain are too big to bail.
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This may be the most important article written about the Euro crisis to date:
The Euro Crisis: Lessons from Bear Stearns
Synopsis: When the Feds bailed out Bear, they sent the wrong signal to fellow teeterers like Lehman, which precipitated a much larger crisis when they then decided to let Lehman fail.
In short, they should let Greece fail so true disasters like Italy failing do not happen.
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Yup. It’s spot on. It’s funny to see The WSJ and Krugman agree (He had made the point about default and used Iceland as the example a few times).
Until Euro-Land devises a way to get an working fiscal union as well as the existing monetary union, it’s an experiment doomed to failure. The benefits to the exporters like Germany are huge, but I doubt they have the political will to accept a Greek default.
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my intraday charts are now configure to have a new bar every 30 seconds instead of every 30 minutes …
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Stocks want to go higher. Its clear it will eventually be as such.
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Shut up, muppet.
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its almost like you people are allergic to money.
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A resolution is already baked in mo mo. Next week will disappoint ALL!!
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Nothing but false rumors and false breakouts.. Lower we be going soon..
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Tom Demark on Bloomberg this hour.
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who is Tommy Demark, is he any good ???
where is Arch Crawford, I miss his predictions …
OCZ squeeeeeeeeeeeeeeeeeeeze
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Reminds me of a Rumsfeld classic blowoff …paraphrasing: “We have seven investigations into this matter and if necessary, we’ll start more investigations.”
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Holy shit, Lungsac and Purdy back after years in exile on the same day, same blogpost?
Coincidence?
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Awww… kinda like a reunion of sorts.
Cue the sappy music.
Or has Purdy been here all along??? The world may never know.
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There goes the ol’ unique visitor numbers. Who’s gonna want to read The Fly’s biting commentary about salty snacks and sugared water?
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Let’s pray GE doesn’t meet expectations tomorrow Nymph..
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Vegas, It could, and kiss 17.50ish on a squeeze, but turn off the lights on this puppy. Global PMI’s are going down ugly and taking the Global GE with it imho. Remember in 2008ish when GE missed earnings and took the entire market down in a big way..that is when GE was really a company to be dealt with, oh well.
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Your funny man.
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CLF +3.71%
WNR +2.08%
CVI +1.04%
I bought these all yesterday after they gave up more than 6%, it worked out pretty well!
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Did you hear the latest EU rumor. They are going to bn gravity over there.
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A familiar face in an unexpected place. Chopping cocks indeed…
http://misterincognito.com/2009/07/18/dont-get-cocky/
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oh my Lord, that is the Fly …
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What a Prick!
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That fucker had it coming. !00,000 euros is nothing to me.
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Speaking of rumours (sic);
http://www.businessinsider.com/bernanke-no-more-stimulating-from-me-2011-10
BI is reporting..though what they do is not really “reporting” over there, more like gossiping…but, I digress. BI is reporting that the Ben Bernank has told some congress critters that he’s done all he can do in terms of monetary policy and that there will be no more Fed stimulus programs. Does he mean after operation twist? If this is even close to accurate, is this priced in? Anyone? Huggie?
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