If I told you I was humbled by today’s trading action, I’d be lying to you. There are many things that make up “The Fly.” Lying is not one of them.
Today I took razor blades to the fucking face. No, I was not fucking humbled, slumped over like some schlep in a museum. I WAS FUCKING CRUMBLED. I was taken from my seat and compressed like a fucking accordion. I WAS FUCKING FACEBOOK’d god-damn it. My great big, bountiful, chestful of pride, position in social media company YELP was urinated on. It was shit upon by apes dressed in astronaut gear.
All of today’s buys were decimated. The Goldman upgrade of MTW was wasted, as it barely went up today. MY TEX buy ended up for shit. My NXPI buy, for shit. But my TDC buy held its own, due to the non-degeneracy of the stock. The old man stocks held their ground and my bold calls in silver were humiliated in front of billions of gawkers.
Hell, even my small Facebook purchase was absolutely clown raped.
I don’t mean to be this volatile and I certainly do not enjoy having to eat my words just a few short hours after posting some ridiculous prediction: but this market is HORSESHIT. It’s made from lose. Every single sector is under fire. The coal, solar, natty, wind and nuclear sectors are going to be washed away in the sands of time. There is going to be capital destruction like you cannot imagine, UNLESS things turn around NOW.
How much exposure do the banks have in the coal space? I imagine a great deal of money.
Perhaps we snap back tomorrow. Maybe my YELP will show some resiliency; but I doubt it. I cannot think of a worser case scenario, a more anti-climatic one, than what happened to me today. The proverbial winds were taken right out my sails and the knife of stupidity is twisting in my stomach.
Oh, by the way, the fucking market closed flat for the day.
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My purchase of AGQ was, to put it mildly, ill-timed and over-sized. I feel I am on the precipice of certain destruction.
I give you props for always telling it like it is. Your psychotic obsession with that incredibly shitty social media stock $YELP is your downfall this year. Play the options if you’re so obsessed with being right about it, and put the cash to work in “real” companies.
Russian people are liars and thieves
Agreud.
agreed
You phuckers need to learn to get your Russki on and pay deference.
As America turns from Socialist into Communist. All hail the Chairman, His Imamness, the HOBO, Pharaoh among Ferrets.
In the name of the great Nikolai, we will not tolerate indifference as gay marriage is held to be a constitutional right; no: rather, I will go full renegade and build a polygamous compound somewhere on an American Indian reservation for which my army of wives will serve with humility, docility and servility.
That is all.
they only lie about being thieves lmao
Felt like catching the falling knife today. Not a fan of that. Got some gold near the end of the day but even that sold off even more than I expected. Long and strong though…
FB came public at a crappy time though, so I’m not as negative on that bet as most. Everything is getting smoked.
GLTA,
-GD
In case you are wondering, YES, YELP did drop so fast it tripped circuit breakers.
I’m thinkin you pissed Stevie Cohen off.
I’m feeling the same way too. Doesn’t make sense, good news then bad out of Europe, why did AAPL rip then fall, just can’t rationalize any of it.
http://ibankcoin.com/thederangedtrader/2012/05/21/aapl/
Just a trade setup, it should get some traction if 576 is taken out now, indeud.
Thanks dude!
Hate to ask this Fly, but your YTD must be in the red as of today? Let’s hope Greece and Spain don’t decide to shit the shower tomorrow. With respect to FB, confidence is lost, and usually that results in more selling.
This doesn’t sound like the real Genghis Khan. Sounds like a phony. The real Khan would sound better prepared for arrows heading for the skull. Before year end, The Fly will be way the fuck up. Way fucking up. Pick up your fucking shield, Khan.
its times like these when all hope is lost when all decisions seem wrong when you feel the crash coming is when the clown rape rally occurs
I admit I don’t know $%!@ about investing. But even I can understand why in a country awash in trillions of cu. ft. of freshly fracked natural gas that coal is going to be a lousy investment for a long, long time.
wprt, is a buy.
Frau Merkel is not for turning, even if there is an axe hovering above the heads of her Euro couter-parts.
It could come down with a swift thrust on their necks and their banking systems tomorrow if we get yet more hog wash from the EU summit. And I think that Frau Merkel will make sure of that, with her “I’m alright Jack” attitude.
ECB emergency intervention will be needed in days IMO.
if there wasnt a bank run yesterday…
The aura of invincibility is gone. FB has been exposed as this decade’s Beanie Baby bred with a Cabbage Patch. Oh the horror.
diggin the Reich piece, thanks
Just as water retains no constant shape, so in warfare there are no constant conditions. #suntzu
Now water can flow or it can crash. Be water, my friend.
People that say nothing is impossible never tried to staple water to a tree.
– Some internet de-motivational poster
Blowtorched in yelp fly Thats gona sting for a while.
Shouldn’t Maria/CNBC have been telling listeners about the “Green Shoe Option” before the IPO rather than after the disaster?
Could it be time to hop aboard your extremely sturdy, stunning TZA steed, with an abundant quantity of Vick’s (VXX) rubbed all over your goddamn tits?
OEW Daily Recap:
“The market opened slightly higher today, dipped, and then made a higher rally high at SPX 1328. This is now a 36 point rally from friday’s 1292 low, the largest rally without a meaningful pullback in a month. Then right after nearing our swing point at SPX 1329 the market had its first meaningful pullback. The pullback continued for the rest of the day, accelerating to the downside in the last hour of trading. After hitting SPX 1310, a 50% retracement, the market bounced to close at 1317. While the pullback was a bit more than would have normally been expected, the OEW 1313 pivot held support”
“Short term support remains at the 1313 and 1303 pivots, with resistance now at SPX 1328 and 1342/47. Short term momentum dropped past neutral after hitting extremely overbought for the first time in nearly a month. The short term OEW charts remain with a negative bias from SPX 1395, but the swing point for a potential new uptrend is now 1327.”
With many looking for a lower low after today’s later afternoon sell off, don’t be surprised if we gap up at the open … confirmation of the reversal at 1327 now … be all in long or left behind from there.
Catch a bottom in FB. It’s still a falling knife, but will be a buy at some point.
a buy at some point – $10, $1?
Unknown. Look for a bottom.
no action was needed on my acct today despite the fuckery …i win either way, you should be to .
HAH HAH HAH can somebody show me how to lose money i dont know how
BANNED
Pull my finger.
triple threat trading put the fibs to work on FB and came out with a $23 DOLLAR TARGET..
i trust no one …but then, this is how i like it ,nobody trusting anybody ..every body watching everybody waiting for somebody to blink…comming up on the fiscal cliff are you ready
http://youtu.be/Wb-MWoZKYmg
It’s happening
impressive honesty, boss, but you are rich guy and gonna be fine. I was up today but overall down for the year so I am the one that should be whining not you.
And you don’t really think the Russians are liars and thiefs after all the crooks you’ve met in this country,are you?
They take it to another level over there.
was looking into buying some stuff …but not at these frothy levels .think i will wait for another 50% off sale ..but then not sure i would buy them on the way down even at that ,the whole catching a falling knife thing yelp!!!!!
man they named that stock right didnt they?
they should of named YELP, splat
Sorry to ban you Boost, as I was growing accustomed to your eccentricities. But you broke the cardinal rule of IBC: never fuck with my positions.
Good riddance
Were you not banned? Perhaps I shall show up to your home and walk throughout while sporting my muddy crocs.
http://www.youtube.com/watch?v=0ucF7ZzRkKc
Fly,
I am sorry tho hear this and I am sorry you have to go through this.
This too shall pass.
Best of luck.
Classic Fly!
Bro, you can always move back to Brooklyn and get that Coney Island gig back.Summer is here and the Island will be crowed.$$$
YELP will hit $30
in 6 months.
Hide ‘n watch!!!
“Hide’n watch!!”
Its like wheels are turning but the hamster is dead.
Awesome! Kicked in the nuts, pummeled, ground up like a condiment, spat out like a lunger, fucked like a whore in heat and yet, NO humility. Love it. That’s the real fucking point, take a back seat to nada, put the big boy panties back on and pound ’em.
Dr. Fly,
YELP is not all lost, barring a market melt-down. I added yesterday. Today the 76.4 Fib retracement for the 5 day range held. http://goo.gl/kTZ7x
Capital Destruction? Bingo! An amazing insite Fly. Could you expound more.
Can you sue because you bought into an IPO that loses money right off the bat?
has anybody thought about a german exit from the euro? they bail out their own banks instead of greece’s. the mark soars, they pay back debt in euros they buy at a discount.
LOL, HILARIOUS.
Respect honesty , I don’t mean to talk shit . I just wish you wouldn’t be so harsh to us that are silly chart readers.
Why not buy some puts against your longs in yelp?
Or just sell calls to lower your cost basis