I warned myself of ‘Dark Clouds Emerging‘ overhead. The symmetry of fucking myself in the exact way of last year was and is sublime. Last year I missed the top by a few days, this year a few weeks. Once again, I find myself in the untenable position of sucking when the chips are falling off the table into the sewer below.
Today hurts and hurts bad. Even though my top two positions, YELP, TDC, are doing okay, my retail positions, JWN and BID, are getting fucking clobbered today. The amount of money that is flying out of the window is somewhat staggering, even more so because I knew this was going to occur. Nothing lasts forever, not even calculator brains and plutonium powered time machines.
Barring some sort of perverted come back, The PPT will likely close OVERSOLD today for the first time this year. I tell you this, not out of the generosity of my soul, but because I am a man eating a plate filled with potato chips as if they were health snacks. I eat them like vitamins, ignoring my proclivity for high cholesterol and blood pressure because I am KAMIKAZE and the world is my Pearl Harbor.
If you haven’t noticed by now, I have a lot of pent up anger, boiling inside of me, waiting to come out. I try to comport myself like a gentleman at all times, preferring the softer sounds of classical music when in the public view. I hold doors for ladies and old fuckers and adhere to all of the laws of the land, like a good sheep. But one of these days, I am going to go “Hulk Hogan” (no homo) on the world, ripping off my shirt, leg dropping the faces of countless people/neighbors in my vicinity. My arms will flail in the wind, knocking out jaws and teeth, as if they were cheaply made toys from SHENZEN, CHINA.
I am going to stop writing now and resume droning on at the altar made from potato chips, quietly in the dark, musing to myself the perplexities of atomic energy. Feel free to sell everything and hide under your covers for the remainder of the day. First thing tomorrow, the selling will continue in earnest, causing you to sell some more.
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Let the record show that I called this correction last week.
Driving in this morning, I saw a whole string of dead bears that hsd been run over by a big $AAPL truck. Just sayin’.
I nailed 5 of the last 2 corrections
ROTFL !! thats good sheet!
Go fuck your dog.
Clouseau: Does your dog bite?
Hotel Clerk: No.
Clouseau: [bowing down to pet the dog] Nice doggie.
[Dog barks and bites Clouseau in the hand]
Clouseau: I thought you said your dog did not bite!
Hotel Clerk: That is not my dog.
http://www.youtube.com/watch?v=SXn2QVipK2o
Please. Give me a break.
If I recall Fly, you have cash on hand. Is this enough of a pull back to deploy, or wait a little more?
buy coal now and make it all back you vagrant.
Nice rally in my PVR today though more a function of their pipeline purchase in the Marcellus.
keep in mind the SOMPness in GLD.
OEW doubters should now repent …
That said, if we recapture SPX 1364-1367 a bounce is at hand and a bottom may (I said MAY) be in ….
The war is no where near over Sr. Tropicana. The true battle has not yet even begun. One small whisper from The Bearded One can send this whole short Sodom and Gomorrah orgy – sky high. Very astute of you to nourish yourself on fine fare while lurking.
another $100B down to go in the money supply before Ben starts printing again … But the ECB could ease the pain until Ben steps in.
I wish there was a like button on this. Cuz u suckas just got served.
I wish you were here next to me so I could commit murder.
One man can control the market with QE and he isn’t going to tell you when. Trading under those circumstances is dice-rolling at best.
QE has been deployed each time money supply drops by $200B … look it up!
What has it dropped by so far and where do I find that data?
http://caldaro.wordpress.com/2012/04/10/feds-monetary-base-quick-update/
Thanks TOTT.
They’re doing Elliot Wave analysis on monetary supply? Can someone give me a breakdown on N America drilling rig counts going forward?
Go ahead and capitulate, he said….you’ll feel better, he said. Needless to say, i closed my shorts at the very top…at 4:15 one day when the whole thing melted up to 1420 in the AH. I sold the top TO THE VERY EXACT POINT.
But it gets worse…i bought the near-top the following day. What was once a marginally bad year has turned into a disaster.
Feel free to try to kill me. I am ready for you.
I shall leave that to the market, good sir.
Huggie,
you still need to hold your own coounsel.
My “own counsel” got me into the mess in the first place.
But yes, The Fly is only 10% to blame. The seductive siren song of capitulating and joining the party where money rained down from the sky was an alluring one indeed.
The show is not over yet. I will revel in this downturn as I have a lot of reserves in bonds that I will put to work. I am going all in on a long term inflationary strategy. These past few months have convinced me that they will print our way out of any and all situations that arise. There is really no other choice.
That is true, but that sucking sound you hear is the printing of cash goign away.
If you are truly in long term inflation camp then you need the deflation to hit first.
This can go on a lot longer than people think. Look how many tomstones there are of guys trying to short Japanese bonds over the years saying the only place rates can go is up.
This is why you never yiedl your priting press like the shmucks in the EZ did.
TVIX is both awesome and scary at the same time. It’s the glory hole of the market.
Lol, anyone who shorted the earlier implosion is now down money. Going to zero is a long process filled with potential 500%+ draw downs.
I’m TVIXing on their fucking skulls.
Fly, I am watching Brent, its option x for them today and Iran/Syria look to be making nice soon. That Friday meeting is looking good. Which rofl, will piss off SO much the saudies when oil prices fall fast and hard. IMHO, Iran can’t sell at any price, so why would they care if the price drops and they can finally not have to worry about summer sales..lol. Iran so hate the Saudies, total Friendemys
Anyone calls you crazy Nymph tell them “like a fox.”
Fly, That is totally going up on my “about the Nymph” bio. thank you, you know we love this stuff.
that could be a double entendre … LOL
Someday the ultimate plot twist will be revealed – that Fly and Trading Nymph are the same person – a la Fight Club. My head will explode trying to connect the dots
trust me,they are not!!!!!!!!!!!!!!!!!!
I’m with you Fly , win or tie . Seriously ,
we’re going to come back fast . We deserve
to win .
^Idiot. Lift more weights. Then the stock market will be nicer to you.
Fake Fly
How many shares of FAZ do you own?
Yeah but…I was waiting for sell in May…
Iran will still sell their oil. To Pakistan, or India or China. They will cheat on the sanctions. The sanctions are a farce. Oil is fungible.
The purpose of the sanctions is to give political cover to weak leaders.
On another topic:
Remember to “…keep your head when all about you are losing theirs and blaming it on you.” (Kipling)
That’s the beauty of it. Of course Iranian oil is still going to make it to market.
And when China is busy scalping Iranian oil at a 30% premium because they’re the only buyer, they aren’t busy fucking around in US or European markets.
amen.
What I truly LOVE about the ‘Fly’.
1) He is RARELY wrong
2) When he is, he ‘mans up’ to it and pulls no bullshit. Unlike MANY others I hear around these parts who are WAY too late or way too early in their predictions (in other words, DEAD WRONG) and later say ‘see?!? I told you so!’ the ‘Fly’ calls it EXACTLY as he sees it, and if he misses, he calls that too.
If you want to kick someone when he’s down who makes you money 90% of the time on a rare occasion when he misses a shot, then you’re an ungrateful fuck.
Nuff said.
“If there’s one thing I detest, it’s ingratitude” – Napoleon, from the movie ‘Waterloo’
I’m wishing for a range bound market with PPT marking the tops and bottoms for the mortal pikers, resulting in TNA+EDZ/TZA/FAZ showering up with coin, and us running naked in the streets, singing praises to Dr. Fly, PPT’s inventor and master space magician…
@huggie – sorry to hear, but I’ve been there for sure (bailing on longs within $0.10 of the bottom, etc)…
There must be something wrong with CPST
Still have a tiny leftover but I know if I drop it it will go right back up!
Not to late to get some $SLV. It usually lags $GLD.
too … yeesh
It’s about time for Uncle Ben to hold another Bernanke Wank and jerk this tape around with talk of QE3.
No, it isn’t. He has to worry about prices too, not just equity.
June, maybe July, and you can get back to smoking crack rocks and fondling cats while going 2X long the indices, on borrowed money, at any price.
Damn, it’s been 5 days people, seriously. You’re addicts.
beautiful music selection. joyful in a sad way.
I went all in, all long the market in the final hour. Bought ISRG, VMW, CMG and some short term SPY calls. I feel like a market Kamikaze.
Over on Slope, Tim is about 50/50 bull/bear and even went long some equities, that should tell you something.
Lol
took you for dead
Money is flowing in TLT and RICK…