Big reversal, especially in the NASDAQ. If I was a degenerate OTB guy, today would chagrin me a great deal. I could have sold everything at higher prices and bought FAZ or TZA. Luckily for me, I do not comport myself in such a manner. I will leave the odd lot trading for you and yours. While you’re busy with that, I will be accumulating shares of TEX, MTW, NXPI, YELP, TDC and CLF on dips.
You must understand: I wasn’t scared when the markets were crashing. There is no way in warm hell this shit is scaring me.
We sold the news. Big.Fucking.Deal.
The panickers will panic. The only way I become a seller is if the Europeans cease to help themselves from shooting each other in the faces with trebuchets.
I gained 1.6% for the day.
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Stop smoking that Hopium.
But it’s good.
the europeans will not shoot themselves in the foot, they will deball themselves
They have no balls to deball.
i gained 2.04% because of your fearless guidance!
And how much did you lose on the way down buying $YELP from 28 to 14? 😉
Why do you want to get banned so badly?
I shed 23%. Happy?
I own YELP from 21, dick-lover.
Hey the ad on the right of this page reads “want unlimited returns. Best investments for 2012. Stanley gibbons” is this legit fly?
” I wasn’t scared when the markets were crashing”
liar.
Look into my eyes, do I look scared?
I think the title was ” Feels like death” but you weren’t scared
The markets were on their way to crashing last summer. They are merely being uncooperative at the moment.
wtf with the recent lip flapping from the clams dogs? at this point would not a shut the fuck up policy then QE bombshell be better?
The DOW speaks the truth … Ignore the other indexes!
Hmmm…market wasn’t crashing Mr. Fly. It was good that the market closed lower because it made a beautiful formation indicative of a bullish sentiment. Had the market closed higher, it would’ve looked bearish. People were simply taking profits close to the end of the trading day. Just my humble opinion 🙂
Just out of curiosity, why are you using the handle “Sierra”?
The Charge of the Light Brigade. ahahhahahahahhahah
Fly, what % of your portfolio is YELP nowadays? Was obviously the only reason you were up 1.6% today with everything else trading down with some (NXPI/TEX) >= (1.5%)
OEW Daily Ramblings:
“The second gap up opening in a row pushed this rally, from monday’s SPX 1267 low, to 1329. That’s 62 points, nearly 5%, in only three days with no meaningful pullback along the way. Quite impressive. This is the type of market activity, during this bull market, [that] usually occurs at the beginning of an uptrend. After hitting extremely overbought short term, and remaining there for a day or so, this market was in need of a pullback. Today’s pullback of 16 points is quite normal in relation to the recent 62 point rally. Pullbacks during the last uptrend ranged anywhere from 8 to 33 points during the trending portions of the wave.”
“This would suggest short term support is in the range of the 1313 and 1303 pivots. Overhead resistance is now at SPX 1328/35 and 1342/47. Short term momentum is declining after remaining at extremely overbought. The short term OEW charts remain in a positive mode with the swing point now around SPX 1305.”
Chuckle. Yeah, it’s over. S&P 400 here we come.
The shooting will start soon….Off to Spain tomorrow, I send you an Update while drinking their cheap ass local wine as the locals throw themselves into meat cleavers while fighting for our business.
http://news.yahoo.com/way-world-ends-volcanoes-could-darken-world-153520265–abc-news-tech.html
“As to the stock market: again, calm down. Counter trend rallies are euphoric. They are fast, big, and make you want to believe again. Refer though, to the ancient rule of thumb that things reverse by about half of the prior move. We went from 1422?s recent S&P high to about 1260 intraday in the futures market, or 162 points. If we retrace half of that, or 81 points, we take the average back to 1341. This rebound, as I write Thursday afternoon, has carried to 1325. I would expect this rally, as much as I love it, to not carry much further. A trading range around 1300, +/- 40 points is my guess.”
-Vince Farrell
Le Fly, the S and Pee is surely going to retest the lows when the europeans the a Pee and S (siesta style)! Why hold on when you can buy this market lower?
Nice to see $YELP putting some stick about, making the shorts jump. Now get that thing up over 20.
I miss ZeroHedge Fly®
Got an e-mail after the close telling me there was a “major” sell off. I checked and the Dow closed up 46. What the hell! I need to find some new friends.
pikers
just a bit of resistance before the mean reversion….kicks in
Can’t see the comments from the heavens..
It wasn’t the Bernank, it wasn’t the Euro’s. It was the congressional hearings on TeeVee. It becomes embarrassingly obvious what tools we have for members of Congress.
People are talking about “summer trading” blablabla. I’ve been saying for a long time, there is NO WAY this year is a carbon copy of the last two years. The market is not THAT stupid. So regarding summer trading, we collapsed in July last year, not in May. This year, in case no one has noticed, we’re rallying in early June. My prediction was that this year would be an epic bullish summer and I,m not wavering. Please ignore the rookies who know nothing and think that it’s a foregone conclusion that summers are always stupid. Well, often summers suck, but I’ve traded summers where you made money hand over fist as the market went up and up and up while un-rigorous bozos took “vacations”. I believe this year will be one of those summers.
LE FLY, ARE YOU LISTENING?
Rally within the next week. Strap on to your velcro shoes you old motherfuckers. This market is about to take you for a fucking ride. ITS GOING ALL THE WAY UP.
The Sleekest Butthole Of Them All
-SLEEK BUTTHOLE
sick song. a classic
I thought BHO phoning it in over the past months was bad enough,but you got to admit Bernanke “Had no plan” today except if it gets really bad we’ll step in…We need “Chainsaw Al” Dunlap in the worse way. We need to go Sunbeam Corporation on this whole crew. Forget Wisconsin, we need Scottie Walker running the ship yesterday!