Typically, I titled a post before I start the article. But I can’t think of a title to describe what is taking place in this market, so I will try to think of one as I type this.
I sold 50% of my WNR position. The refiners look tired and I only have a few longs, one of them being TLT aka treasuries. We are now up more than 10% for the month of October. What a difference one month makes, eh? It’s real easy to be bullish here. After all, Europe has it all figured out and CAT beat earnings. You can sense the cynicism in everyone who talks about Europe, no? And yet the market continues to steam roll higher.
Let me just say, this move higher is not natural. There must be some covert Fed buying spree, aka QE3, taking place. I will need to add one or two names to the long side, at some point, to offset my hedges. I am hesitant to do so up here. But then again, this market is on automatic higher, so why not take the free money off the floor? The Fed is throwing money on the floor at us Wall Street strippers. All we have to do is dance to get some. As you know, “The Fly” doesn’t dance for the Federal Reserve. I will leave that sort of behavior for you.
NFLX is posting earnings tonight. Anyone of you punks feeling lucky?
More broadly, 40% of the S&P 500 members will be posting numbers this week. Coupled with the European crisis fix, scheduled for this Wednesday, you homos stand to make a great deal of money this week, eh? Keep in mind, when I say “homo” or “faggot”, I mean it in the most docile way possible. “The Fly” is an equal opportunity hater. Do not think for a second because your lifestyle is a political hand grenade that I will give you a pass. Fucking wrong. I will call you out for your homo ways, whenever the opportunity presents itself.
Into the rally, I FUCKING HATE STOCKS. I want to spit on them and throw them out of the window. It pains me to know I will have to buy something to offset shorts. But then again, I am my own fucking man and do not have to do anything.
So what have we learned reading this article? What shall I title it? HOMO RALLY LIVES? Or, how about I FUCKING HATE STOCKS! That would garner a great deal of click throughs. Fuck it, I am going with…. Well this is stupid, since you already know the fucking title. Boy I am smoking some bullshit today.
UPDATE: I fucking defeated you, by refusing to title this post. Take that, fuckface.
If you enjoy the content at iBankCoin, please follow us on Twitter
Somebody sure is super tense. Looks like he got massively short. Lol @ Fly, 3 posts in 3 hours.
Who said I was short? Based upon the laws of reason, you sir are BANNED.
wnr, still holdings rest into earnings, why sell at this price?
Obama’s new program that should be negative for Amreits and the surge like
small biotechs . Go figure .
Fly babeeeee, I am dancin’ and gyratin’ in my G string, scooping up the Bemjamins!!!!
Rick Ross just ordered up some additional bricks of cash for the dance floor.
A suggestion for a title:
THIS HOMOSEXUAL OPERA (not that there is anything wrong with that) IS FOR LOOSERS
I like that one!
This market constantly defies all reason. Meltup today, but TLT is up.
I took some off the table today…i am at extreme all time highs +40% YTD. I also went short a bit of crude today via DTO.
Sir Fly, come Hallowwwwweeeeen, stocks will be crashing down …
Strip teasing for the Fed, LOL. Good one there, Fly!
Nice deception by using Principal vs Principle which The Fly knows is correct.
… how bout this title ?
“Toonces … The Cat That Can Drive A Car … is driving this Market” !
.
https://lh3.googleusercontent.com/-CMAAavowYgQ/Tg1ahcUo8yI/AAAAAAAAb-M/176P9hLyK88/s800/IMG_0486.JPG
I just noticed a gravestone entitled “ALF” on the header of the site…nice touch!
… been there for a month … try to pay closer attention!
.
So are you still short, Alf?
.
SHORTER … Than Punky Brewster !!!
.
Alf my man, you’ll soon be dancin’ with Devildog!
… right now … I feel like I’m dancin’ with Chaz Bono !
YUK !!!
.
… where’s your ukulele ?
.
dude, I thought average is 6 inches …
It depends on how you measure
http://www.youtube.com/watch?v=6AZ6fYmEjeA
does net short mean more short positions than longs..10%
“train wreck averted in the land of oz” title. jump in the basket toto,it’s time for a cruise.
Yes
Vintage Fly!
Perhaps they are providing a “bid” for US assets as eurozone liquifies and repatriates cash, only to have the hammer fall later. These meetings are jsut delay tactics until they are done with selling. In the meantime the bots us EURUSD correlation to bid as well.
When said hammer does fall, then Merkozy and Benny B and the ink jets will step forward and print a nuclear solution.
Fly, what’s with crack spreads down almost 12% today? Can you enlighten us?
We are fly fly flying!!!!
You have got to sit back and look at this rally with utter amazement. And it is showing no signs of relenting. All the data is coming back super bullish.
We could end the year at 1450. I know it sounds crazy, but right about now if you are managing money you’ve got to start worrying about not having enough risk on going into the celebration of the Turkey Gods.
just what the robots want you to think. they are readying to slice off your fingertips as as each pogos across a bloodied keyboard. Or not.
Find myself agreeing with you, Huggie. The kind of strength we have seen over the last 2 weeks in both the internals and the price action typically follows through and begets more strength. Couple that with the $VIX looking like it wants to go a lot lower and we continue to melt up in a timeframe measured in months, not just days or weeks.
Huggie has been right to be bullish. I’m selling my TWM position before the close today. Another 8% on the $RUT and I’ll be back to break-even on my URTY position. Could be as soon as the middle of November, which I would not have thought possible when the calendar turned from September to October.
I mean, as long as the europeans don’t completely disappoint, we are off to the races. Seems like people already know what the outcome will be.
Sure seems like somebody knows something. Either the market is treating Operation Twist like a bearded clam backstop (ie, QE2) or the real thing is coming down the pike in the form of QE3.
Strength? Have you seen volume
Compare to Fall 2010 volume and note the similarity.
Gorillas need more cocaine on their bloomberg terminals
POMO buying starting last Friday, but they will be sellers on the 26th I believe. Europe Flash PMI is still saying europe is going into a recession, Yeah, HSBC Flash PMI out of China was a little bit better then last month, but this is only the FLASH number and since China got backed they have not been buying. BTW, Rice, Rice Baby is really not going to help those darn inflation numbers at all for them. Plus, Thailand is really going to get slammed down with India being able to charge 1/2 as much for their rice this season. I am so bored of this Rally…Please cue up the Italian Riots when they continue to try and cut pensions, etc..I am amused that everyone is buying up the europe is saved, not so fast sparky.
Oh and just to amuse me, that Stupid AAPL is back testing 404 resistance. Poster Child of a short.
Nymph, I am stuck and in pain, should I average down on those Inverse ETFs ???
Buy low, sell high. (obviously)
The Fed is buying now (low), and will be selling on Wednesday (high).
I’ll probably sell on Tuesday and watch Wednesday. It has the potential to blow up, but because I could be wrong I’d rather be cautious.
Nothing wrong making a couple of bucks, up or down. I’m already up 2k today.
I am not doing anything until Wednesday. Afraid of the good old, “buy the rumor, sell the news” reaction. I doubt it will happen though, as it looks we could be up another 300+points by Wednesday.
Every indication is saying to buy except the biggest one, the credit markets…
Oh what to do…what to do…Off to the coward mobile.
I think alot of traders are confused by the rally due to all the negatives in the Eurozone , the general macro outlook, and the recent sell off.
I don’t think sentiment is bullish enough to stop the rally quite yet, but there’s also event risk that could reverse everything in a few short hours.
I am bullish until Wednesday and will remain bullish until 1200 ES gets taken out.
Cool your jets all.
A standard “run of the mill” test of the 200SMA from below (on a daily chart) is like…….so completely normal/forseen by traders.
All USD related currency pairs currently doing the exact same thing…so….a couple points here n there – this is likely the “bear market rally” end here soon.
Vatican talking to Wall Street here:
http://www.reuters.com/article/2011/10/24/idUS264245887020111024
It seems that we already have global public authorities, like the Fed, which seems to be owned partly by Europe, and the IMF. It’s just that people, including the ones at the Vatican, are displeased with the way the Fed, IMF etc. are handling things.
That is one of the creepiest stories I’ve read in awhile.
Tonight we’re going to party like it’s 1999 (or 8)
*or 8…)
Goodbye, I’m dead. Cya later TVIX
Gambler, where are you going, does TVIX crashed ???
MOTR currently up 23%!
If things are so good, why is the Fed taling QE3? What do they know that stock buyers don’t?
Random, Damon, Hang in there!
Hat tip. You were right, and I was wrong. Nice call.
Well, I haven’t sold anything yet so any gains so far are only on paper. There’s still Wednesday when everything could just evaporate.
get too cute in this market -you gonna get burned..out-think it? waste o time…market is smarter than human.
are you long or short ???
Is anybody going long or short NFLX here? Any thoughts on a straddle?
Anyone know how much the Bearded Clam puts out for a lap dance?
All I know is that in my repertoire bearded clam is the focal point of the lap dance.
As much as it takes. It’s called Quantitative Sleazing.
Is the price of dildos going up, or something?
Your correlation between bull and homo is entertaining.
We’re still going up! What the fuck? Maybe the things are not all that bad out there. People are gonna work and produce and live better.
Buying more WNR. Their quarter is gonna kill. Earnings 11/03.
May be wrong but thought I heard a man say crack spreads are narrowing.
wnr sale at these prices?
NFLX HOMO HAMMERED
not that there is anything wronnnnnnnnng with that…
So who out there is going to admit to buying NFLX today?
I was up 2.67% for the day, not bad considering my WNR and CVI positions fared poorly due to crack spreads declining by over 11%.
NFLX down 20% after hour, ouch …
oy