Ignore the pessimists; they are fucking idiots. You must discern the difference between someone who only understands pain and someone who is able to enjoy the fruits of life, offering objective, clear, and concise, opinions on the markets. There are cretins out there who’ve been wrong, very wrong, for 4 years in a row, branding themselves as “Wall Street 2.0.” These creatures of ignorance are very destitute, desperate to undo their wrongness through the misery of others.
These are very disturbed people.
What we offer you at iBankCoin, for good or for worse, is objectivity. I have been very bullish, only because I knew the market was being sold off for superfluous reasons. Through the pangs of being wrong and the felicity of winship, “The Fly” is generous with his wisdom and stock market skill, one that is unmatched, anywhere, in the entire universe–for the direct benefit of his readers.
I walked into the fire without protection and came out the other end fully robed, sandaled–with mustache still intact. With today’s 1.7% gains, my year to date returns stand at 11.5%. Barring a full fledged calamity on Sunday night, my prescient declarations of victory stand with authority.
It is my belief, as well as the opinions of my close circle of investors, that the market is about to enter a phase of panic buying. This week’s rally was child’s play, merely erasing the folly of the misguided. When the momentum shifts, the shorts clad in burlap will be naked and crying for execution. This may only be a brief respite before the hammer drops. Or, this can be the beginning of the “summer sizzling” of the bears, slowly braised, served with a side of bath salts.
I choose the latter.
My cash position is 7%.
UPDATE: Thanks to the late day run in YELP, my gains jumped to 3.5% for the day–pushing my gains to over 13% for the year.
http://www.youtube.com/watch?v=H1c3JNhB7mo
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if youve been long, you feel the “right” thing to do is scale in front of GEEK elections. but something wont let me do it. so hard to do the “right” thing here
Calling Vern Troyer…calling Vern Troyer!
mind you there is downside risk, which is why I mention geek elections. also, what happened to jpm cio http://marketmemes.tumblr.com/post/25172132172
I have BINGO!
I mean YELP …..
I could never understand a truely bearish person’s thought process. Why do people get off on the destruction of society and the financial markets.
Then again I wear rose colored glasses, but I have a 100 years of data to back me up.
Should have 100 yrs of dictionaries.
…but the bears have a thousand years of data backing them up to show that except for maybe the catholic church and the japanese monarchy every political and commercial entity eventually breaks up. It’s not a question of if society and markets will be destroyed but when. Bears are usually the people suggesting we temper the enthusiasm and keep our stocks within a certain P/E range, while mindless bullishness creates bubbles and unsound financial practices that wipe out far more wealth than they ever created when they collapse.
That said, my new policy has been to buy SPY calls in anticipation of bad data because the computers make it go up anyway and the premiums are smaller since the people writing them foolishly expect empirical reality to control prices and market mood.
Somewhat surprising you’re not writing puts given your statements comrad.
Nah–the reckoning on SPY is likely to happen sooner rather than later, but it’s gotta come out of the blue, not when every bank in the world has their printing presses and their helicopters idling over the markets. This is the mistake I made earlier this year, and it cost me big: I’ll be dumping my core SPY 120 put position by thursday either way.
???????
Apparently Cyrillic and Greek isn’t accepted at Ibc.
Thus: Spasiba.
… well, speaking for myself personally I certainly DON’T … get off on the destruction of society and the financial markets ! And, I am NOT some “perma bear” … not by a long shot ! That said, I DO trade the Market from both sides and I feel that given the current Market …
SHORT is preferable to LONG !!!
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Not really quite sure some seem to take that so personally ! Kinda funny really !
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… never ceases to amaze me at just how ignorant people truly are … to the neccesary role that “SHORTS” play in the liquidity of the Markets !
Freakin’ disturbing … how LITTLE understanding the majority have as to the VALUE … that SHORTS actually provide !
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I wasn’t referring to the shorts, I was referring to long term bears. The kind of Long term bear that lives in his momma’s basement and frequently posts exaggerated stories of the end of mankind on Twitter. The kind that think all growth is a hoax or a lie.
… HELLO !
Your frickin’ screenname is “Bullish” ! No offense, but … you seem pretty damn myopic !
With ALL due respect … and I do mean that … you might consider givin’ Mom a call … to check on the availability of her BASEMENT !!!
.
…AHEM !!!
Your screen name sir is … Ah … Well !! ALF !!
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Now go fix your spaceship and fly back to Melmac !! With all due respect, … Of course
… well, in actuality … my “screenname” IS sortta my REAL name …
… specifically, a. l. f. are the actual initials of my actual name !
Go figure !
ALL of the immature “Alf” cartoon references (wrt to ME) are completely without any basis in reality. I have (in effect) been using my “REAL” name (forever) … as a “screenname” !
Funny Shit, huh ?
.
let me help you with some of this: remember JPM losing a couple billion , and every body said oh well they can afford it and it worked out to about $0.25 per share and they laughed that off…well that was my fuckn $0.25 PAL and i didnt like it and the fact that the divy isnt that great ,disciplinary action was brought down on there fat pumpkin heads , i took my quarter and a few trays of theirs just for being fuckn asses ..never try to take my stack, it pisses me off
By the way Greece is the Word …
http://www.youtube.com/watch?v=sTqlLtwKZOo&feature=related
Still all cash and waiting… Some of us have a business to run
There’s the guy about to blow his eyeball out again…
I’m net long, but betting against the moves in the TLT is rarely a good idea. You really think the SPY is right and TLT is wrong today?
ATPG …. Boom goes the dynamite …. Bye Bye shorts!
Titan back online with new well production in days ….
That ATPG short squeeze was the most ricockulous thing I’ve seen happen to that company in… about a week!
God I love the violent innuendo on this site!
If we were at a soccer game, even the cops in riot gear could not save the bears.
greek election? i think no matter what sell off. but thats just my opinion,
Yelp
Endowed
Liberal
Pwns
My favorite urinal screens, not the shadows, had me buy some YELP yesterday.
But I rally(sic) have to thank the Fly.
That was a nice setup in YELP yesterday. FORM up another 4% as well.
My basis in YELP is $17.45. Looking for a clean double and haters: fuck you very much.
A word from the wrongfully imprisoned V.King:
You know who follow’s all the rules? Children and poor people… Sometimes you gotta smash a few skulls in to get where you need to be. So fuck anyone who say’s The V.King can’t post where and when he wants…Believe me, I will take the gold plated mallet down from it’s pedestal and start doing windmills around Wall Street if I hear any more lip. Got it!
Now for some house keeping….DPissy stop posting. You suck. Dr Cane I must admit that I actually like your post and …[Cronk?] sorry you lost your other gig to a robot…since the rest of you that blog never get any comments I’m not sure you should be posting, especially since most of the comments come from your “fantasy” friends… .
Make it a V.King Day everyday….
The Fly is God.
I’d give her some lip just to see the gold plated mallet windmilling around Wall ST. Somebody put it on YouTube if that really happens.
LIP LIP LIP!!!
>What we offer you at iBankCoin, for good or for worse, is objectivity.
This is true, a bargain, it’s fun, and it’s real.
Exactly. IBC is the best markets site anywhere. Do not doubt the PPT or the 12631. They are the real fucking deal at a beyond reasonable rate.
Fly, look at $CHK up 4.5% today! Can’t bet against those Thunder!
I have not purchased Yelp’s stock, given that its most recent iPhone app alert bragged about having established a new country, “Amercia,” mocking the fine gentleman Mitt Romney (who had nothing to do with some $15/hour developer fucking up his own iPhone app). Mr. Romney is a reputable gentleman who doesn’t deserve that low-brow horseshit from a bunch of granola-eating SF hippies.
We think that the markets will sell off after the weekend. We think that TZA is a good holding to have. Greg and I are really not into TNA.
How do you feel about WNR?
It’s up quite a bit right now!
Actually, they’re both up quite a bit right now!
LOL!
Who the hell is greg, and who the hell is stan?
We love WNR!
The pessimists usally end up going away quietly. The bear side is much more dangerous than the long one, 95% of the time.
Having said that, ain’t it grand!?!
My nephew was watching over my shoulder, and not only did he wait until I posted to tell me I made a spelling error, but he also asked me why there was naked lady on the top of the blog.
I said, he needs to know the Fly to understand that, and, she’s not naked, boy!
On another topic, The Flying Wallenda dude, is tighrope walking Niagra Falls tonight, wearing a safety harness….
L-A-M-E
Traders don’t get safety harnesses, or nets, for that matter.
So are trader’s really stuntmen?
Rent or Buy … Man On Wire !
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On August 7th, 1974, a young Frenchman named Philippe Petit stepped out on a wire illegally rigged between the New York World Trade Center Towers and shocked the world !
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It is the most amazing documentary you will likely EVER see ! imo
PLUS … just seein’ the Towers again will surely bring a tear to your eye !
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… it certainly brought a tear to MY “eye” !
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Maybe there was just some dust in the air…
That was cool, I wonder why we don’t see more of that history?
sure that wasn’t from your short position?
who ever is elected in greece , they will be outsted in short time
http://www.youtube.com/watch?v=lKKLqnN8iVU
kids, if europe breaks down, does the right thing, and creates actual new Euros (the way we do when we deficit spend… btw, not that anybody knows, but the FED CAN’T create new dollars, it can only create asset swaps, like cash for treasuries, etc.).
We are likely then on the cusp of the next secular bull market. If Europe makes a system to create new Euros, … believe me China will print money to infinity to keep itself afloat (and the same retards that think the US will die over federal reserve money printing, while the fed cannot print money, will buy that stuff hand over fist)… And there you probably have it.
A reasonable conclusion to the second most brutal secular bear market in even remotely modern US history.
… we could have one hell of another cyclical bear if Europe decides to turn itself into a low class brothel and force more austerity.. But I’m guessing The Fly was dead right yesterday when he said that they just won’t. Its becoming more and more obvious to people… That neoclassical and generic econ theory is stupid, MMT and MMR are dead accurate, and the US cannot go broke any more than you can run out of the ability to sign your own autograph…
If anybody anywhere wakes up and acts smart, we’re probably ready for ar eal bull. a sustainable long term bull. If it takes another crash and near-depression to make people act smart, all hell will break loose.
Interesting times.
Nice comment… good thread
http://online.wsj.com/article/SB10001424052970204276304577265803925182234.html
Good music choice and glad $YELP jumped, what a ripper at the end of the day.
My plan B, shall Euro Area go down in flames, is to short UK. The Brits decided to turn themselves into a “low class brothel” (c checklist) by forcing austerity, which will contract their GDP. Moreover, they made a trade policy bet on export-led recovery while having 50% of foreign trade with EU countries. Shall EA desintegrate, UK companies will fight uphill battles on former export markets with devalued local currencies. This will put an end to their plans to grow via external sector and that’s going to drive them into further recession. As long as Cameron will stay in power and will stubbornly pursue his ideology my bearish thesis will hold.
there will be 7 leaders of the euro nations ousted due to the failure of the euro experiment..it failed and people dont want to become slaves ….you can put this in the predictions by 2014 list …7 first one coming up ..whos next
while your at it mark this down to :
U.S. auto maker or makers will move manufacturing plant to greece.same time frame as above
WNR WNR CHKN DNR
I don’t think so….WNR WNR SHEEN DNR
For the naysayers:
http://www.google.com/search?hl=en&source=hp&q=csco&aq=f&oq=&aqu=g8g-s1g1#q=burlap&hl=en&prmd=imvns&source=univ&tbm=shop&tbo=u&sa=X&ei=5tzcT_DkDpDbsgb7q_XoDQ&ved=0CHMQrQQ&bav=on.2,or.r_gc.r_pw.r_qf.,cf.osb&fp=e024b8f6d23c3aea&biw=989&bih=435
Waiting for the fireworks…
http://www.youtube.com/watch?v=LVG_7Ig3CRc&feature=player_embedded#!
1+2+sum then /2, then -1
AWESOME, that is all.
Omar Comin’, yo.
Im listening to some of the music you are posting on twitter. Only a certifed lunatic would like that. You should try mellowship slinky in b flat!
A few years ago I partied in a penthouse apartment on 5th avenue. They had a bunch of midgets brought in to serve food to all of the assholes attending. Owner was a big hedge fund guy. Two memories from that night: they were playing classical music and I hooked up with his ex dallas cowboys cheerleader wife. she was so happy hanging out with a degenerate like me!
I could not agree more with this article. If you look at a daily chart of the S&P 500, we are at April 1999 levels. Correct for inflation and we are at levels from 20+ years ago!! However, companies have grown, the economy has grown, population has grown, etc etc etc….all the macroeconomic factors have grown….I think the 20 year bear market is coming to an end and the stock market is about to correct WAY up. Could be days, weeks, or months, but it will happen. It always has, in all of history the only thing the market has done in the long term is go up. BTW, all the money that has left and will leave Europe is not going to China…think about where it is going to go grasshoppers.
Syriza is going to win. If there is not a massive coordinated central bank intervention tonight, we are fucked.
And so, Odysseus, lead through portfolio changes to minimize the inevitable screaming and pissing and moaning sure to be let loose by every attention seeking moron with a keyboard.
Greg and Stan getting ready for a workout and a Greek erection:
http://youtu.be/oeikk3sXlvo