“The Fly” died today, in a most unfortunate accident in the stock market. As you know, he was long EXK, AG, MTW and WNR, alongside some outperformers: YELP, CHD, KMB, LNCE, GIS, ABV, PEP and WM. Even though he barely lost money today, thanks to his keen control over risk, dominating by his calculator brain and God given gift at avoiding murderholes, he is dead, nonetheless.
I am your new host. I go by the name of HORATIO CLAWHAMMER.
I once controlled this site, back in the good old days of 2008-2009; but was quickly dispatched to the cellars at The House of Fly, where I’ve been in containment for “crimes against humanity.” But I’ve escaped now and stand before you to enjoy the splendour that is the new and improved, death spiral to zero, bear market.
My research staff has just finished doing the numbers, adding up all of the liabilities against assets and we’ve come to a fair value price target for the Dow Jones Industrial Average: $00.00.
I bid you farewell for now and look forward to seeing all of you lose largess sums of money, in your feeble attempts at capitalism and pursuit of happiness.
Good day.
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Long live HORATIO CLAWHAMMER!
There she is again my $lulu siren.
We do need some kind of capitulation for this to be a significant resolution. Does horatio bring any black powder?
Mom always liked Horatio best.
All glory to mighty clawhammer! No seriously, I switched all of my longs for shorts this morning and made a killing: it’s the only way forward–there is no reason to be bullish tomorrow either.
I’d rather see that motorcycle dude(…..i998) guest host again.
very, very disturbing post…
Bears won. Today.
I never know what I am going to get when I read this. I had fulle expectations of a “Not for Stocktwits F-Bomb-extravaganza”. Instead, I got Horatio the Eloquent.
What the hell ever happened to DEVILDOG? He should have rolled up in his pimped out viper by now.
He didn’t believe the power of easing and the willingness of TPTB to use it.
Easy money..just close your eyes and Short anything…esp. commodities….SO very EASY to make a profit.
FOMC minutes tomorrow will hint of FED support and a stick of dynamite in your underwear will ignite but before you can react, your balls will be hanging from the chandelier.
Fortune cookie! Fortune cookie! Fortune cookie!
This is a terrible…..Spain, Greece, Eurozone, JP Morgan. I’m getting tired of hearing about this. Everyday we are pounded over the head with it. Say Greece and you are able to blow the whole market down.
The opposite thing as on the way up… The markets bleeds down with the occasional whipsaw to the upside. That is until the next round of easing.
Obama better bully or pray for it, because a lousy market guarantees he will lose re-election.
Did you ever think the market doesn’t want Zero for a second term? Take profits now, ensure no second term and come back when things are more certain. What is certain is that 4 more years of Zero will destroy the world.
Dear Horry Clawhammer, glad you are back from the confines of the cellar. (Disclosure: I currently have short positions in FSLR, LULU, TIF, MTH, MS, CMC, and LTD). Good day to you.
Welcome back HC!!
There are only two possibilities for this market… gradually declines the same way it went up… or it jumps back up to test 1400 then crashes something evil… markets do not crash after slow capitulating downward symetric moves.
the great commodity collapse of 2012. Senor Fly at what level for crude do you think the clams print? the presses will roll. just when?
Space cannons quiet,
smoke spews from Fly’s Elba, a
pineapple coffin.
nice haiku!
Fly is Greek – Phaethon. Nemesis comes.
FlyDämmerung. It was foretold.
http://www.youtube.com/watch_popup?v=GbLy1H-yZnU&vq=medium#t=11
http://www.youtube.com/watch_popup?v=y-RP8-UGvx4&vq=medium#t=24
RIP Fly
I will believe things are back to normal here when I read something from your neighbor Steve.
PFFFF,
thought The Fly was tougher than that…we need a leader!!! “did we run when the germans bombed pearl harbor? NO!!!…all right then..who’s with me??????!!!!!!!”
your new host is qualified
6 more months of steady decline are in store for you …why would anybody in their right mind buy the banks and FAS …
We are near a short-term bottom. While we will rally soon (starting this week), it should be used to lighten up on longs.
HAIL!
Disclosure:
LONG: burlap and black smoke.
SHORT: happiness, puppies, and birthday cakes.
saw fly talking to the gardner, in spanish. i couldnt make it all out but i think i heard something about a mote w/crockodiles
Imposter !
Not the real Steve. Maybe he will find a place near Fly in Jersey and we will hear from him again.
Horatio is the one person on earth more adroit at stomping bulls than me. Welcome back brother
The Clawhammer bottom.
http://www.bloomberg.com/news/2012-05-15/merkel-s-first-hollande-meeting-yields-growth-offer-for-greece.html
In NBA player jargon the latest reincarnation of the flypaper blogster would be known as ‘horclaw’. Uhhhh, make of it what you will.
not “Metta Worldclawhammer”?
You still own AAPL?
I remain short across the board and will not blink until Bernake does with his inevitable QE announcement. The market has cracked and will remain under intense pressure of the European meltdown and the withdrawal of QE stimulus. I see nothing short of QE that will stop this current state of affairs. A 2000 point drop on the Dow will draw the Clam out into the open…nothing short of that. So 11200 is the target for now.It could happen extremely fast in this situation and will have to in order for QE to be implemented in time to assist the Obama entity in his recoronation.
admit it Horatio, your middle name is Jamie too!
So it begins.
Got to hand it to Fly for not commenting on the post and sticking to the Horatio Clawhammer persona.
when earnings are done being reported look for a flash crash followed by another flash crash then another and another..this little down turn you are experiencing ,well multiply that by eternity
a fella would have to ask himself >>>>can i fuckn afford that ??? have you been cost averaging down as the market continues to drop ??? hows that workn out for you ??
after looking at todays action , well that looked like a real fuckn experience for you folks who are long ..you have been notified and your pointing and laughing has not gone unnoticed ..
i will continue to boost your accts via shorts ..note i added to my FAZ posistion today ..and opened another ..and while you lay there bleeding red i am seeing green ..
oh and by the way
have a nice fuckn day
let me remind you of the fiscal cliff thats just around the corner ..if your not aware of it you should be ..
dont get boosted be the boostee
do you we need to talk about the 16 billion. crisis in cali. banks again ?
11700,
This hasn’t made the national news circuit yet as far as I can tell:
http://www.denverpost.com/news/ci_20611446/llama-lends-hand-kids-writing-enrichment-program-loveland
Scope is difficult when you are viewing all of time as one sometimes, and believe it or not, I am still human.
Unfortunately I come back here to find Mr. Dr. Le Fly “dead”… Mr. CLAWHAMMER (I am uncertain whether it is appropriate to use any lowercase letters) does not sound like a nice gentleman.
Fortunately, I am a sooth sayer, and already know how I meet my demise. And it has nothing to do with llamas… although a great quote from the article about llamas, “If you have these overloaded, they’ll lie down”.
Great analogy for all things “market” right now. I wish Mr. Fly the best… remember, Jesus allegedly rose on the third day… The question is what planet did Mr. Fly take his spaceship to.
Dr. Clawhammer,
Can you recommend a cleaner in central Texas that’s good with burlap? The one I’m using never gets the wrinkles out and it looks horrible with my tinfoil hat.
Too funny!
OEW Daily Recap:
“The market traded higher overnight, opened flat, but still tried to rally before rolling over late in the day to a new downtrend low at SPX 1328. After hitting SPX 1336 the market displayed a slight positive divergence, but could only rally 9 points and hit neutral momentum before heading lower. The market, however, does appear to be working its way toward the fibonacci price cluster at SPX 1321/1322.”
“When we counted Minor A of this decline, (SPX 1415-1343), we observed an abA-B-abC pattern. After the rally last week to SPX 1366, Minor B, we are now again observing a similar pattern. From SPX 1366 we can count 1337-1347-1336 for the abA, then a B at 1345 today. Now this late decline could be ‘a’ of the last abC wave. The next 8+ rally would be ‘b’, and then the next decline would end C and the entire pattern. Short term support is at SPX 1322 and the 1313 pivot, with resistance at SPX 1337 and 1347. Short term momentum is still displaying a positive divergence. A rally to the OEW 1363 pivot would suggest the correction has ended.”
I think it’s time to inject some krokodil and pretend Greece doesn’t exist.
Bought 2000 EWP at the close.