Go through the archives, read what I wrote inside of The PPT. You will find that I was expecting this decline and prepared for it by positioning a 50% cash position. As fate would have it, I still bled the fuck out, with SWHC transforming into a knife and stabbing me in the face.
Silver moved higher too, as predicted. But the dicksuckers over at IAG have sucked the life out from the miners (pun intended). As a result, EXK is getting splashed all over the pavement. I’m down about 10% on both stocks and my VHC has retrenched by 10% as well, equalling a situation so bizarre, so asinine, I can only marvel at my ridiculous situation.
I now find myself in the awkward position of having to be an aggressive dip buyer, into what I deem to be a “bear market.” Or, I can just sell everything here and live out the rest of my life in the long grass fields of Romania.
War is on the horizon, gentlemen. Today’s opening salvo in Israel is an appetizer of things to come. It is the ultimate stimulus program and it will be enacted in Tehran.
My sense is we trade down 3,800 points from here, inside of the next year. We will bounce along the way and most of you will be hoodwinked into mercy positions by clever salesmen, circling the grounds of Twitter. I will start buying when my robots say we’re done going lower. Until then, I will bleed, just like you, but my wounds will not be mortal.
http://www.youtube.com/watch?v=LpPdl0StUVs
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Looks like war to me.
Pretty sure Allen was taken down so they could put somebody more hawkish on Iran into the UN. Prepare for all out war in 2013.
short VXX?
Israel has been hit with over 100 missles in just the last 5 days from terrorist Hamas run Gaza, today they decided to strike back, not by carpet bombing the entire gaza strip (which most countries would have done), but by pinpoint targeting of the terrorist leader of Hamas, supported by Iran. He and his terrorist buddies can go enjoy their 72 virgins for all I care.
On a more serious note, wTF happened to SWHC today and will you ride out the dip lower or sell? Thx.
Thanks Master Fly.
was it entirely stupid to load up on XIV at the bell?
Awesome. Been a long time coming. One more crushing bout of pain is needed to make people give up on stocks forever, just before the great bull market to come.
Dow 8000?
Mr. Fly is something blowing up out there that we don’t know about?
America.
Fly, wouldn’t a market like this be a great idea for one to long on gold futures?
Beyond prepared, I don’t think I could have done better this time around…
DUST is all over my chest
Stay safe
When will you start dip buying, around 1260? Thanks, Mr.P.
I will start buying at the right time – price target for entry has no meaning for me.
By the way I still own GLD and funny enough both GLD and DUST were green today.
Yes, my GLD also : )
And SLV.
Unfortunately, most miners took an arse whupping.
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If the market goes into a bear decline(and I have no clue) then all commodities will blow up including gold and silver.
Everything gets liquidated.
Pull up a chart of gold and go back to 1973-74 and take a look,
The only exception I know of is in the early ’30s when a gold stock like HM (Homestake Mining- gold price was fixed then) took off.
This^
Aren’t we back in the ’30’s now with Barack O’Clause Coming (Back) to Town?
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I got stupid long thinking housing is improving, unemployment clicked below 8%, and Uncle Ben was holding everything up. Then the one big hurricane of the year hits Manhattan of all places, Republicans are destroying the economy out of protest, and now a war is breaking the F#$@ out!!! Is this the Mayan prediction!!!
Not out of protest my boy, out of self-preservation.
Ah, would that economics (the classical, non-Marxist kind) were taught in our nation’s public schools…
_________
long live tim knight
The Margin Clerks must have come out at 3 to demands liquidation of assets.
Hypocrites! You know how to interpret the appearance of the earth and the sky, but why don’t you know how to interpret this time?
Good thing we elected Obama and those fucktard senators again.
If you are 50% cash but your holdings have a beta of 2, aren’t you essentially 100% long?
tomato tomaato
Beats being 200% long then…
mathematically yes, but having 50% cash gives you flexabily to trade, 100% invested not so much 🙂
correct. I’ve always lived and died by the hammer. Having cash allows me to correct my mistakes and repent for the heresy I’ve committed.
Look, the stock market predicts changes in the economy, it does not follow it. Right now, the stock market is predicting a recession of epic proportions. I think that we are in a healthy correction, and then will build a base through 1Q, when strong housing and sub-$3 gasoline will propel markets to new highs by 3Q 2013. A great buying opportunity waits 5% lower.
sub 3$ gasoline? Wtf? Not in my state, buddy.
Somebody is trying really hard to keep that LNKD price up.
YOU’RE GONNA DIEEEEEEE
http://www.youtube.com/watch?v=o1tj2zJ2Wvg
I’ll start to believe the sky is falling when I see Horatio come back and all my peeps playing TZA and SKF.
Till then, any “downside” is just more opportunities for the Feds to inject some more money and the news to switch it’s little turn to how great and unexpected holiday sales are this year.
Any insight on mortgage REITS / high divvy names getting the smackdown? $IVR $PGP $PHK $MAIN $HLSS $PMT
WAR is the answer.
All we are saying, is give peas a chance.
don’t compete cost-wise, have too much debt, baby boomers starting to die off, wage earners take less home, all nothing to do with taxes. add in a fiscal cliff concoction and higher taxes = fucked. competing with the 3rd world (used to be known as) has not been good so far.
Fly. Here ist your WAR MUSIK
http://www.youtube.com/watch?v=a8-XarUUxM0
funny.. http://youtu.be/3h8O7V-WxWQ
cry me a fucking river. you don’t know pain, son. HuggieBear has been bled out one droplet at a time by jack the ripper, strapped to some medieval gurney’esque contraption.
Good to see you are still around to fight another day.
“fully prepared” meh, kinda misses.
BANNED
Nice to see you banning people again. Haven’t seen one in awhile.
The whole sheebang or just the Greg Solomon thing until repentance of egregious sin?
LOL Richly deserved.
My marine buddy just got off a navy ship that was assisting the hurricane, floating off NYC for the last few weeks. He said that they were all “greatly underutilized” because the unions in NYC didn’t want so many people around, doing free work.
unions are the reason that North America is into a 3rd world country – safe work environments and worker rights – are those bad things? All the union hating ilk out there, has no idea what it was like to be threatened to be punched out if you didn’t feel safe operating a machine that just killed your best friend….these broad brush strokes are so ignorant…
^ the reason that North America is not a 3rd world country ^
SRD4– Most people agree with you, as you can see by the election results. It’s just that rich Right Wingers who never did a minute of hard physcal work in their life are the more vocal people on this web site.
There are probably more Dems than Repubs here, as elsewhere. But the Right Wingers never listen to anything Dems have to say. So we have mostly given up commenting. But we are here. Welcome to you.
It is unfortunate though if unions blocked free workers from helping hurricane victims. Unions are not perfect organizations, even if they do keep us from becoming a 3rd world country.
I doubt they are truly right wingers when it comes down to it – they spout off platitudes of the virtues of selfishness when they are gaming it well, claiming the government is too big, and regulates everything to death, setting up unfair welfare handouts to people and businesses – EXCEPT WHEN THEY GET IN TROUBLE – then it’s oh bitch bitch this about the government not doing enough or they should step in – bleh –
You are both somewhat ignorant about what it means to be “right wing”.
I’m about as conservative as one can get but I 100% agree with you that sadly, in many business environments, unions have their place. Living where I do though in the “breadbasket” of UAW land, I see very clearly what they have for the most part become. That is; entities that are primarily interested only in self preservation at the expense of the very businesses that support their membership and also at the expense of the membership itself.
I am a tradesman myself and am “familiar” with both independent and union work. What I see on union run jobs makes me sick 9 times out of 10. The main emphasis seems to be in stretching out whatever job is being done to as long a length of time as possible. “Oh…. you need that pallet of material moved over there? I’ll have to get someone who has that in their job description. You are not allowed, neither am I.”
That’s not how this country was built but it is how it will fail. Our grandfathers did not win WWII by waiting for the jeep driver or the rifleman or the machine gunner to come and man his post if he was not there. If they saw a need or a job to be done they took personal initiative and by god went and did it.
You may think the war analogy is incorrect but in fact it could not be more accurate. This country is at war. It is a world war that is being fought for jobs, for production, for wages that pay enough to live on. Anything that stands in the way of production toward those goals must be necessarily cast aside or we simply lose our place on the world stage.
Our government and to a large extent unions, stand in the way of this more often than not. We need to play to win or else go back to what is left of home. Cooperation between labor and management, government and industry must be maximized. Protecting ones “turf” should be relegated to the dust bin of history.
do shorts control a large amount of stocks now? Everyone is lulled into the idea of short squeezes and shorts being at the losing end of the stick, but is there a paradigm shift in todays trading, where long investors that used to control stocks are no longer those in control? The concept of a stock owned by shorts seems to have more and more merit – look at $VHC – shorts pull reverse conversions with the options to create synthetic shares to short – everyone waits on a white knight to buy, but the white knight is selling nowadays, selling short that is…..