Monday, December 5, 2016
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
14,836 Blog Posts

I’m Stupid For Buying Today

The moment I saw this,
I shrieked with agony. I was confounded how a man who makes a living playing it safe, with regular positions of both equal longs versus shorts could put himself out there, in an exhibition of extreme zealotry,  announcing a net +5 long position. It was something that not only shocked, but appalled me. That’s like being long 12 Microsofts, while only short just 7 DELLs. Frankly speaking, it was a bit too much to bear, a burden too heavy for even “The Fly” to carry.

To think that I had just purchased the most retarded stock in over 2 centuries of commerce (SNE) on the same day that such a conservative man of means and #timestamp took on such enormous risk was so troubling for me that I went home to drink a shandy, maybe two.

In other news, Japan is sharply to the upside this evening and gold and silver are attending the homosexual opera. I hope you all sleep well and make great efforts to reduce your equity exposure first thing tomorrow morning.

I know I will be there selling.

 

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26 comments

  1. Steve Place

    i ate an entire box of kraft mac and cheese in your honour

  2. trade_drunk

    NO HOMO

  3. Mr. Partridge

    Look at silver and gold AH…. oh boy….
    Euro diving like a dolphin too nah more like a brick

    I thing this rally in indexes is not for real, pure short covering… wild guess of course

  4. flyaway18

    Are you saying this is an omen because Keith is too bullish, so it’s time to sell?

  5. Chief Keef McCullough
    Chief Keef McCullough

    Don’t like.

  6. Cris

    Selling equities or selling your PM Fly?

  7. Testicules

    Fed buying big next week as per schedule
    I’ll be 3 long and one short and one sideways

  8. TraderCaddy

    I could be wrong but I believe Japan has been closed all week and is playing catch up from the Worldwide rally Mon.and Wed. ADR prices already baked in?
    In the old days one could have played this with a Japan mutual fund and then they required “fair pricing” back around 2000 or so due to “late” mutual fund trading with active switchers. Those were the good ole’ days.

  9. gregnb

    I think he also increased his net long exposure like this last time we topped out back in sept

  10. juice

    what happened to monsieur silver, aka the head made out of cement senator ?

  11. Fidel Cash Grow

    Love the accompanying music…

    Think about this one to go with an upcoming post

    http://www.youtube.com/watch?v=QOLCXPRg650&feature=share&list=FL20fni1szFPX5NbGP7HgIUA

  12. Mr. President

    This comment is directed toward the respectable Mr. Señor Lé Fly, with all due respect and honour and grammar.

    Good sir,

    I cannot comment on the market in a way that would be advantageous to you. Nor can I bring any other sort of merit to this discussion other than the fact that I am a long-time reader who has followed you through thick and thin (past and present) of the past 5 years.

    And this is what I have to say:

    You’ve always been right when it matters. Now that your returns have been mediocre, I feel like you might fear a terrible “downside surprise” should you go “full retard” and bet on your gut. But I bet against you many times in the past few years before watching you salsa dance on my grave. I’ve seen you do ridiculous, stupid things, and then tell everyone that the only reason you did them is because it was your right to do so; it’s what you were born to do.

    And that is the absolute truth.

    So Mr. Le Fly, trust your gut. To hell with 2011 and 2012.

    You are the reason I’m still in the stock market.

    Thank you,

    Mr. President

    • The Fly

      Thank you Kind Sir. But I believe my calling now lies in the hand of devils and demons. Once I am unshackled from them, I will be back to bowling on the fat faces of my competitors.

  13. dominator

    Fly- I figured it out You are really Dave Chappelle disguised as a trader. You crack me up over here.

  14. The Eye-Talian Stallion
    The Eye-Talian Stallion

    Wednesday was an aberation, dangerous, signalling something is afoot with the market movers. Also Geithner is out and Lew is in, a Citigroup “alternative investment” hedge fund COO.
    Seriously, can’t 0bama hire a token christian, buddist or muslim to fill this role?

  15. bearearns

    I realy wish I could pull up the day he said that going short here was idiotic it was at the exact top of market when he mocked bears. And then at bottom he was very bearish. I dont hate anyone in market, but it was humorous.

    By the time market recorrects he will have his shorts. He is the classic Tim Knight trader. Never loses. But my goal in future is to focus on exposing frauds such as himself. I was going to do so tonight, but going back a zillion tweets was a waste of my time.

  16. Zero Dark Kitty

    Homosexual Opera? All opera is homosexual. According to this book it has something to do with the way opera singers keep their mouths open for extended periods of time.

    “The Queen’s Throat: Opera, Homosexuality, and the Mystery of Desire”
    http://www.amazon.com/The-Queens-Throat-Homosexuality-Mystery/dp/0306810085

    With an introduction by Tony Kushner just in case you needed more convincing.

  17. nobody

    FLY,
    Is @KeithMcCullough a dumb money ? it sure looks like in your post.