Naturally, the meeting resulted in a bunch of nothingness. Hollande wants eurobonds to finance future growth projects and Merkel, the German bitch, said nein. I am so sick of hearing the word “GREXIT”. It’s a fucking smug thing to say and reeks of schadenfreude. If you find pleasure in seeing the pain of others, you are undoubtedly without top hat. I’m no longer interested in problems; but keenly looking for solutions.
Post summit, futures are barely changed and Asia is flat. This is very encouraging. Make no mistake, today’s reversal was epic in nature and could lead to a string of up days. On the flavour of delicious caspian tiger entrees, God knows I need it.
Into an upswing, I am zoned in on silver. According to The PPT, both EXK and AG correlate best to an oversold market. Hence, I am long in size. However, they are just trades and I will kick them out for 10% gains whenever they reach desired levels.
Also, the dollar is flagging OB, always an accurate flag by the 12 mo algorithm.
What goes up when the dollar comes down?
Answer: everything.
Hypothetically, let’s say the record amount of dodo birds shorting the euro get caught flat-footed in a bull stampede, based upon a surprise Chinese rate cut or some rumors of euro-bonds, how do you think commodity related stocks will respond to a 5% move higher in the euro?
Answer: they will rip the fucking faces off everyone who is balls to the wall short.
Please humor me and have a look at some commodity related stocks, that have been bashed to pieces over the past month–with industry leading ROE ratios.
On the ankles of Achilles, I will accumulate monstrous positions in one or two of those names, providing the rally gets legs. I intend to swap out of my precious metals, the rest of my old man stocks and liquidate one or two tech names to buy the blood. Not only will I buy the blood, I will drink and bathe in it. I will congeal it to be used as candles inside of my fucking castle.
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Fly,
you see ZH about Greece exit? google translated German newspaper headline from tomorrow
Germany vs Greece: Game of Chicken… You are referencing the last move by Germany, and it was a pawn, not even a knight, and surely no castle!
You just BTFD right here and forget about it.
Remember last summer. There was no slow fade down from 1325… is was a 40pt drop here, 60 there, +20 next day, -30 the next. You just buy the dip right here. I unfortunately did so in oil at 96… but all is well, as it’s going 100+ in the not too distant future.
Rumor Du Jour or something: LTRO coming back and ECB rate cut… part of the globally coordinated liquidity injection that will be happening this year.
I am going to Panama, of the central american variety, at 6AM tomorrow for 5 days of absolute debauchery.
I do so levered about 200% long via crude and AGQ, as well as a variety of silver miners (EXK and SLW, mainly).
I will return next Tuesday either back near even on the year, or destitute.
A fools gambit, no doubt, but one taken on The Fly’s prediction of a monstrous rally of epic proportions.
I hope you are right, this time.
Now that’s commitment 😉
i will cut and run when i get back if we take out the lows on gold and crude. but i dont think thats likely.
I hope to enjoy many beers witn you in person some day (no homo) because you are absolutely insane.
I want to retire in Panama some day on a golf course. No worries fore I am heterozygous sickle cell trait and possess resistance to malaria.
I hope you are a coffee drinker HB. Heard the stuff there is the best. I am envious, have a great trip!
Lol the end of this piece makes the schadenfreude comment particularly hilarious
Same reaction.
I’d only change one thing, whilst without top hat, said joyers in other’s misery would likely be with helmet.
Thanks Master Fly.
You should have held on to your WNR…
NEM looks ready imo.
I sold a touch under $20.
I still think TEX will outperform.
damn damn damn the chinese and there contracting ways.
Huggie – My unsolicited advice: Close all positions before your flight (although that may be impossible now). Otherwise all you will do is check market on your vacation. Good luck and have fun.
sitting through this misery makes clown-rape-cocaine rallies so much more fun.
BREAKING NEWS! !!!Rush Limbaugh for VP!!!
Romney Rush Republicans Recession
Apparently China needs more fetus au jus.
Don’t agree Fly
This is not a time to grow big balls IMO.
Too much risk in Europe. Go back to your headwinds and tailwinds and reread it multiple times.
You speculate like a craps player in Vegas. You were up 20% and then gave it all back.
You’re way better then that.
Platitudes.
I am as good as my returns suggest, nothing more or less.
The year is young and I’m still up 4%.
Well done and excuse me for being a bit trite.
Good day to you sir.
Fly’s right. 100%
PMs are going to explode now. Time to lever up. EUR shorts are going to be bleeding from their assholes. Real gross but fun to see.
Greek Leadehttp:
//www.bloomberg.com/video/93252183-greek-leaders-may-have-only-46-hours-for-euro-exit.htmlrs May Have Only 46 Hours For Euro Exit ……………………………..
This sounds like alarmist BS from Bloomberg. Greek Parliament would need to vote on this…
I’m the complete anti-you, quite by accident: what we’re forgetting is that Europe closed down big yesterday so they can see some bounce today and the trend/wave are still down. China is also not flexing today. My thesis is that the US market was drunk and the hangover comes today. There’s been pretty big volume for the weekly/monthly 130 calls and puts on the SPY, so no doubt someone is going to get the balls caught in a car door by closing on Friday.
Been stackin’ some mini SIN12 up myself so naturally your analysis is brilliant for 1-2 bucks on the stuff.
sipping on the nectar of dunkin, pulled right from my bunn, the greece exit will slip thru, the eu is pleading not to go. they ready for more complication. this is not an easy market. i increased gld pos. also wprt. but im 50% cash.
i see fb full value at 18. (imho) p/e 73? peg 1.66
source:
http://wallstreetwindow.com/node/6048
you are drinking out of your ass, butterknife
I would like to know based on what are we going to have a monster rally?. Hope?
but Fly, you do have a top hat, no?