Much props to David Einhorn for nailing the GMCR short. His timing was sublime.
Stocks like GMCR, ROVI and NILE should pose as a serious warning to all investors: do not stay long companies with high expectations into earnings. It is a recipe for cataclysm.
My target names for purchase is very small and I am most interested in gold and silver, despite today’s carnage.
But let’s be clear (no Obama), we are at the point of no return. The ECB will step in and buy incredible amounts of Italian debt when the crisis is at its apex. Why?
Answer: to make money.
Why should they buy Italian debt @ $95 when they can wait it out and buy it for $75? This is where the crisis is heading. Things will seem so incredulous, so unbelievable, then BAM: the ECB will pull a Puma Punku on the world and flood the bond markets with cheap money while socializing with high priced hookers.
Truth be told, I am so fucking sick of this roller coaster. I want to kill the people who do this to me but I don’t know where they live. Can you help me with that?
Thanks in advance.
If you enjoy the content at iBankCoin, please follow us on Twitter
Ideud
I’ve talked to God and his name is spelled F-L-Y
Small government is the only solution. Why can’t ows figure that out
Looking forward to Santelli tossing hand grenades at the GOP tonight during debate.
MUST WATCH TV
Non of GOP candidates post any meaningful thread to Obama. Mitt rammy’s state has 2nd lowest job growth. GOP hate Obama more than love the nation. We should give democratic the congress and make GOP more honest and serious next election.
Wah u say?
Chinese agent make love for Obama known. Like velly much China catching up with U.S.
Foah moah yeahs!
___________
Santelli + Santorum = St. Sanitarium.
I DON’T wonder how “they took” Paterno’s “father” issues (no BartiR[A]Mo).
fuck dirty old people.
not literally though
Fly, who’s your favorite candidate at this point, gun to your head?
my brain is rotting watchin this retarded debate. i may have just shit my pants. slowly melting down into a decrepid boomer.
Feel free to relieve us of your Soc Sec liability.
_____________
http://theprofiletrader.files.wordpress.com/2009/09/dragons1.png
This type of bullish “dragon” pattern is still holding in the SPY daily chart
and this type of inverse head and shoulders
http://www.financial-spread-betting.com/wp- content/uploads/2010/12/inverse-head-shoulders.jpg
Is still holding in the EWG EWP EWQ AND the VGK
Also, today, a bullish SPY pattern emerged on the 30 min chart. ( bullish expanding triangle/megaphone)
http://www.forex-trading-gurus.com/assets/images/expanding-triangle. gif
If italy can just trade flat for a day or two, market should be fine here. We’re at the mercy of the new Italian leadership.
http://www.youtube.com/watch?v=PfDoDWlSp1o
Knew there would be someone bullish still.. Lol!!
Stop it
You made 14% on your TZA today. 45% more and you’re back to breakeven. Congrats.
Touche’.. Thanks!!
29.50% to go till even.
East Coasterz, a hatin’.
We need to let them belive their absentee 20’th century infrastructure is lively.
“No worries.”
All good, I’m buying up Kentucky and New Hampshire, but’s another story.
32.25 -> 47 = 45.7%
QED.
Fly, Here is an advice for you. Kudlow and Cramer know shit about stocks. They have great audience numbers though. Why don’t you start a show where you rant and rave?
You are not a stock picker, you are an entertainer. Abusive but you got your own herd.
BANNED
and fuck off.
EINHORN IS A MAN!!!
Oh yeah, all’s gonna be fine. To the moon!
“News Alert from The Wall Street Journal
Jefferson County, Ala.’s commissioners voted Wednesday to file for what would be the largest municipal bankruptcy in U.S. history, as a tentative plan reached with creditors in September unraveled.”
Batter up Chicago, Illinois, and Californiya.
Love it how the miscreants come out from the woodworks on down days.
Fuck off.
Easy, 1600 Pennsylvania Ave…
The events of the past at Easter Island and the country of Tiahuanaco (Puma Punku) are connected. These two places are more than 5,000 kilometers apart, but have a direct connection between them. These areas were colonized by immigrating hoards of deserters from the Lyran System 13,000 years ago until only 2,548 years ago. They had a gigantic body structure that measured nearly 11 meters tall. They were led by a semi-ishwish by the name of Viracocoha. He was very old and greedy for government. With his position and cruel leadership, he conquered the high lands of Tiahuanaco and Easter Island.
After this victory, he settled with a small bodyguard of cherubim on a small island before Easter Island, which is known today as Motunui or similar. The cherubim were part animal and part human that appeared bird-like. Mot means bird in their ancient language, so the island was called Mot Isle or the island of bird humans. The inhabitants of Tiahuanaco and Easter Island were procreations of immigrated extraterrestrial entities of earlier epochs of time. The giant race educated the humans with great knowledge and taught them to operate their machines. They were even taught about stone masonry and the giants were celebrated as gods.
With the help of the giants and their machinery, the ancient inhabitants created the tall head formations from lava stones and erected them all over the island. They also created egg-shaped stones because the spacecraft of the giants had this form. Similar events happened in Pisco, Nazca, and Sacsayhuman because the giants had settled there as well. After several millenniums, the giants were suddenly stricken by an epidemic, which took the lives of many of them. They suddenly departed the Earth in their spaceships and vanished into the cosmos without a trace.
Easter Island Heads – an attempt by the islanders – 69.33-42
The escaping giants left a desperate nation at Easter Island because they were suddenly deprived of technology, which their giant gods had taken with them. Also left behind, were some hundreds of incomplete statues of heads in the lava walls of volcanic craters, which were never to be completed. In their despair, the islanders tried to get back the gods who had fled, by attempting to complete the unfinished stone heads with primitive stone tools. These attempts failed and were given up in a few years. The Plejarens have been unable to determine why the islanders thought they could bring back their giant gods by improving the stone heads. After some years, the islanders put up shinny red hats in an attempt to calm the giants who had fled and bring them back. They created large hats from a mixture of red earth, sand, and small stones on the heads of numerous existing giant heads. The purpose behind this is another mystery to the Plejarens. But, their calculations reveal the probability that the hats were reproductions of the helmet-like formations worn by the giants.
Last sign of giants was in a system of Andromeda – 69.43-56
Many matters about the giants and their activities on Earth are also a mystery to the Plejarens. The only known sign of the existence of the giants came from a solar system in the Andromeda Constellation. There came news of a colonized world (Earth) and an expedition by a human race from Andomeda that were 180 centimeters tall. They brought a message of the giants to Tiahuanaco and lived there for 20 years and 7 months, 2,568 years ago. During their stay on Earth, they built a high culture and constructed electrical energy centers with underground cables protected by half-tube channels. Like the giants, the Andromedians were unable to accommodate themselves to the earthly conditions of climate and atmosphere. They were befallen by the same mysterious epidemic, which caused them to escape in panic. They are presumed to be dead. The remaining stone formations that were erected by the giants clearly show faces with sharp, small-lipped, and squeezed together mouth-parts, unusually low forms of a forehead, and extremely deep-set eyes. They also depict unusually sharp, straight, and long noses. These are traits of wicked giants, but not all giant races were like them.
I think you dropped the “d’ at the end of your name down the same volcano Xenu used to make s’mores over.
too much acid. so sad
If you were into equities at the moment, would you think that TEA is at a good value at 21.66?
Those doing the Italian Hugh are getting Netflixed.
Fly, What do you think about SPU? It has a great balance sheet, but it seems like a Chinese burrito with a grenade wrapped inside of it. Also, no insider ownership at all.
thanks fly for confirming what we all know is going to happen in the end… this is just a show for the public so when it comes time they can justify printing and debasing. such a sad state of affairs.. ok back to what’s important – america’s got talent!
Fly,
I see you’re convinced they’ll be ramping the printing presses. I’m not so sure. I think Germany would rather see it all burn to the ground vis a vis a DEFLATIONARY VORTEX, rather than dust off their wheelbarrows.
Love it when the Fly is cranky. He is that much more entertaining when he is stricken by such a mood.
It’s a frustrating mess isn’t it Fly? Germany and France seem to be politically handcuffed when it comes to bailing out the losers of southern Europe.
I think Germany bails before they print. They remember Weimar and I just don’t see them making the same mistake.
U could be right. Tremendous pressure on the ECB To print.
I got popcorn and am prepared for the shit show with a slew of gold, shorts, cash, and high divvy stox.
I think the keywords there are “ECB” and “socialize”, perhaps the roots of all of this fear, are that we are fast and furiously becoming a socialist country ourselves?
Think about that when you cast a vote next year.
Go Euro!
Have a couple addresses for you.
I believe they are responsible for the roller coaster rides on WS.
1. George Soros c/o 666 Purgatory Drive, Hell, Cal.
2. Bernie Madoff c/o Federal Penitentiary,OLD N. CAROLINA HWY 75
BUTNER, NC 275093
3. Alexander Hamilton c/o 74 Trinity Place New York, NY 10006- 4th row, last headstone
4. George Papandreou, Maximos Mansion, Athens,Greece
You are welcome.
The current European system is clearly broken. Yet those with power beat their heads against the wall trying to maneuver within the broken system. Will not happen. This will, at some point, result in a realization that conflict between the haves and have nots must be resolved before any happening. At this time there is no one, repeat no one, who has an answer, just smart-ass self-serving bait thrown out to the hungry.
Props.
Fly
I know it was a rough day but nailed quite a few trades this year….. WNR and NFLX…… its a marathon not a sprint. This shit too will pass.
The world will end…. just not tomorrow
Risky-
The name says it all.
What goes around, comes around.
The good ones will come back (never fast enough)
Respect, Fly. As always, on point. I’m sick of this shit too, and there is so little advantage in either direction, although the PPT is a huge help.
I look forward to your twitter commentary this evening for the debate. Thank you in advance.
If you consider GMCR such dangerous stock to long, why do you long it before? Is it purely for 100-roll, no fundamental at all?
Santelli could not trade his way out of a paper bag…. he struggled for years and finally gave up..
now he knows everything
Time for us to grind out the cash from anyone stupid enough to trade this market…anyone with a positive return will be near zero by end of December.
No human can keep up with us, don’t even try.
In this environment Sir Fly, you should be doing The Hugh, not The Gint.
Are you holding BORN through earnings?
sold it
I will say Fly that I never thought the US markets would ever be ruled by fucking Europe. The only thing I have done well this year is protect my capital. Which means I have been hiding under the bed for most of the year. Thanks for your guidance this year.
nobody knows a damn thing, so we make things up.
I just carrier-qualed.
You should not be afraid of carriers.
Or Tranes, for that matter.
______
I think i get what you’re talking about. do you get what I am? think “cvn 76”
let’s not forget 2012 end of the world coming…. murder black hole… not that I care 🙂
Holy shit, Herminator just had the comment of the night, and it was a throwaway–
“… and the OTHER problem with Dodd-Frank is DODD… (slight pause)… and FRANK!”
Rofl!
_____________
It’s funny because it’s true..
the other 2 problems are dodd… and frank
Einhorn can eat a big fat dick. He proved that he can manipulate a stock price on speculation alone, nothing more. GMCR misses by .01 and the stock drops 30%?
Damn, it’s not like they are NFLX, losing 800,000 subs in a quarter!
Inventories are +150%. I warned people inside PPT and here that Einhorn was right. It’s not easy out there.
I can attest to that.. Fly did warn people inside the PPT.
But it is also true that Einhorn adopted the short thesis and then proceeded to make public accusations of wrongdoing against the company. It’s kind of like Carl Icahn being down 10% on a stock he owns and suddenly saying he’s pressuring the BOD to sell the company, so it shoots up 30%… but in reverse.
IOW Eff these guys.
“Einhorn can eat a big fat dick. ”
INDEUD
Questions for anyone here…
DPTR announced possible bankruptcy after hours. Stock went from around $2 per share to 70¢ in after hours trading, about 370,000 shares traded.
Two questions… I can understand why the shares were being sold, but why were there that many buyers? Is there much of a chance that DPTR won’t go bankrupt?
Gambling –looking for a quick flip into the first tic at the open.
just a guess
TVIX strangle. Look no further.
Rick Perry has once again proved he is a clueless moron !
—
Something that many Texans have known for many years !
Rick Perry … you are “toast” ! How would you like you eggs ?
Poached ?
Hardboiled ?
Scrambled ?
Over Easy ?
.
Maybe he and 0-Bama can do a comedy tour in January of 2013?
__________
Where were you ALL day?
???
_____
Been dealing with a pet-related health issue !
—
Our little Miniature Poodle, Gracie has lost her sight ! It happened seemingly overnight. Last Friday it became obvious something was horribly wrong. Since then we have been to her Vet for an exam and lab work. Nothing conclusive showed up from that. I have been reading everything I can find on the internet about blindness in dogs. PRA – Progressive Retinal Atrophy / PRCD – Progressive Rod Cone Degeneration / SARDS – Sudden Aquired Retinal Degeneration Syndrome. We have since taken her to a Vet Opthalmologist. This visit confirmed what my “research” had already indicated.
SARDS !
I am now doing further reading of everything I can find to try and determine if anything can be done for Gracie !
My wife and I are just overwhelmed with sadness and concern for her. It was so unexpected ! I’m currently reading stuff on “adrenal exhaustion” and hormone supplementation as possible treatments to at least restore her to some semblance of “functional vision” !
–
Sad times here !
.
Understood, Sorry to hear that..
Put ‘er down.
In too deep.
it’s not easy bro, you get soo wrapped up emotionally.and it hurts real bad that we cant do much to ease the pain. one thing we learned fast though,is that it is becoming big business, with no better results. please dont get taken……peace
Silver is fucked Down $2 tomorrow.
nope
Watching Kuddles in the aftermath… didn’t realize how much he looked like a Muppet these days.
_____________
I just can’t see getting long gold/silver here yet, hence my short position on an overvalued miner. If bond spreads are blowing out and the ECB has cut rates despite Italian inflation increasing, it’s telling me that credit right now is tight. Therefore, an decrease in the sovereign bonds will cause margin calls and the forcible pledging of additional collateral. If central banks want to maintain positions in declining euro paper they’re going to have to sell off currency reserves, fixed income instruments, or hard assets like gold. As of December 2010, Italy was the third largest holder of gold reserves (2500 tons). Now in terms of capital structure, I would dump the most overvalued asset relatively speaking (gold) or UST and buy up euros and euro bonds. This may seem counter-intuitive because UST and dollars are safer in the global sense but if EZ members are required to abide by Maastricht criteria, certain measures must be taken.
TRH, you have taken 2nd position after V.King here at IBC.
Well read and said.
Question: Why is it that 10 year rates above 6% signal default for these European countries??? 6% is nothing–US 10 yrs were at 6% in 2000.
US was not deficit spending like a mother in those days, as we are today and Europe is today. In Oct., US deficit was $200 Billion! just one month! That’s over a Trillion $ a year. This is the shit that the college econ professors said would avoid depression– but it seems to not be working.
The US has bills/notes/bonds dependent on the credibility and ability of the US government to maintain a means of collecting money and servicing their debt within the US. It’s denominated in USD and the US has a monopoly on its currency (it can print without anyone else telling them not to do so). Italy issues bonds in the same manner and accordingly they must maintain a government that has the ability to service that debt. The catch is that Italy’s currency is a part of a union where there are rules for amounts of debt/gdp, inflation rates, etc. If they can’t service their debt then more euros have to be printed or money has to be obtained from a stronger nation. A shared currency can work for a while but, inevitably, people are fallible. Higher Italian bond rates raise their interest expense and point to a further need for euro currency or haircuts on the debt. It is especially troublesome given Italy’s ability to generate revenue to service their large debt burden.
Debt levels are much much
Higher
Relative to what?
Technology can re balance balance sheets, even if historians “might” write contrary.
Further, if Italy, America, or “you name it”, had the competency, integrity and plenary will to enforce IP (i.e. patents, trademarks and copyrights), how would we build enough prisons for the Chinese?
Not most “Americans” know how to handle, let alone competently voice, such issues… . … .
On this point, I DISSENT.
kinda like blaming the car thief for stealing your car left running, double parked and door open isn’t it?
If U.S. corps must partner with Chinese corps and provide transparency to their technology as a means for entrance, then who’s the real crook … the thieves or the treasonists?
Look at this: http://slopeofhope.com/2011/11/slope-generosity-and-best-friends.html
What a homo — blatantly calling out IBC. Joke show.
Hey, wtf is that site? Screw them! And their animals.
Bernanke & Draghi are/will manipulate every market out there: treasuries, stocks, bonds, gold, silver, inflation, unemployment, you name it.
Pay no attention to the man behind the curtain: http://www.youtube.com/watch?v=NZR64EF3OpA
Today made me angry. Now I want to aggressively short every single stock on planet earth. So I guess tomorrow is the epic reversal.
I am eating sammitches at home… as this is no time to be out at an Eyetalian restaurant.
______________
asia tanking wow…this will get alot worse watch… short and getting shorter
Propping it up via euro buying
One massive tug of war ahead. Who eventually has control? I think bearhuggers are left standing. Not an easy ride though, for anyone
Nice review! This is exactly the type of article that needs to be shared around the web. Shame on the search engines for not ranking this post higher!