I’ve given up hoping for a bounce and have looked up local soup kitchens, preparing for the future. All of this stock market calamity has made me hungry. How about you?
Oh, I almost forget to mention, The PPT has just flagged OVERSOLD, which is a big deal for me. Unfortunately (also for me), I acted rashly over the past few weeks and ignored its better judgement, and as a result, find myself in a bit of a jam sandwich at the moment– if you know what I mean.
The last oversold signal registered on 2/3/14.
I know many of you caring folks are wondering “what are Fly’s losses? How much money has that stupid bastard lost in recent weeks?” It’s all relative, frankly. Isn’t it? Short sellers are shooting fish in a barrel at this point and anyone stupid enough to be long “the best stocks” almost deserve the losses. I’d like to tell you “don’t worry, this too shall pass.”
However, it won’t.
This is it. THE BIG GIANT STUPID TOP that we’ve all been waiting for. After the market spits me out, I’ll be lucky to do stand up comedy routines in Trenton, NJ, whereby I get shot immediately following my performances. Aside from dealing with money, I’m a fairly decent writer, better than most. I suppose I could segue my wildly unsuccessful finance career into children’s books. I could write a series of books about the stock market, all showing men jumping out from windows following poor decisions in the stock exchange. It will make for a good lesson or two.
“So how bad are the losses, Fly?”
I’ll put it to you this way. I survived the 2008-2009 crash because I went short and was careful enough to never stay long into declines. Every time the market started to drop, I knew it was only the beginning of a serious decline. So I’d take my losses, reverse course, and go short. I’d buy inverse ETFs, puts, whatever it took to survive. This time around, I got caught flat footed, in “the very best stocks”, and the drops are equal to what I absorbed during the dot com crash, when I wasn’t prepared and barely escaped. The only reason why I made it out of the dot com crash was because I was crazy young, energetic, and fucking ignorant as shit.
I don’t have leverage issues here and will not be forced out of stocks. But, rest assured, many people do. And right now those stupid bastards are being liquidated. After the margin clerks sell, THEY SELL SOME MORE. Rumors of a fund going bust, instantly makes that fund’s positions targets for short sellers.
So here we have a situation where the market is dropping into a rabbit hole, everyone is chasing each other’s tails down the drain and there is nothing, as far as I can see, that can stop it.
Welcome to THE GREATEST TECH WRECK OF YOUR LIVES: a Ben less tape.
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FML.
PPT oversold is a big deal. You best act on that, guvna.
FLY, if you re not down more than 20% YTD, a comeback should be quite easy for a sir of your class.
Down more than 20. Come on son.
u are absolutely down more than 20%, i bet you are down closer to 45% based on your picks and their precipitous declines….feye is down 45% and u have averaged in several times, making it your largest position, and a giant loser 🙂
Why are you so fascinated by the Fly? Have you ever wondered?
i don’t own every stock from its highs you stupid bitch
lolz
“Look at the big brain on brett!”
well this was encouraging
classic
I imagine that Fella Yellen can stop it but she won’t…yet.
When all the newspapers and TeeVee stations tell us that the market is broken and we should all run for our lives, that’s the sign that Yellen will issue a surprise QE+ announcement.
I hate the fact that in order to make up a loss of 50%, you need to earn 100%.
math is gay
Flamboyantly so.
Thanks for making me laugh with that exchange – i needed it!
So what battle plan are you leaning toward? Hold, Braveheart-style, hoping for a decent reversal in “the very best stocks?” Perhaps a little 3X degeneracy to offset current losses?
As always, brutally honest and hilarious.
You are far too smart to sell at the lows. These momo names will bounce back and you’ll be back to crushing it.
FEYE, WDAY, SPLK, and YELP will forever be known as fly’s “4 Horsemen of Death.”
I assume each is a 15% position. They’ve taken 50% haircuts, so I estimate your portfolio to be down 30%. Sobering and depressing, but not the end of the world. Especially when in the world of 7 figure trading.
not 15% for all
12-18% ranges?
well, you said you’re more than 20%, and my guess was 30% so i’m not that far off.
Who’s counting?
I am not down 50% on them either. I didn’t buy at the highs.
but your largest position (feye) is down more than 45% and u have kept chasing it on the way down like a novice 🙂
fly must be down ~60-70% of his original net worth, considering how “leveraged” he was going into this shitstorm. feel horrible about it tbh. but ya gotta live and learn
wasn’t leveraged. not down 70% clowno
i’ve never read a post where you say you’re less than 100% leveraged. idrc what the number is – i feel badly about it. not trying to knock you at all.
gl
did you read a post when i said i sold ezpw and sale?
One: http://ibankcoin.com/flyblog/2014/03/24/today-i-died/
Two: http://ibankcoin.com/flyblog/2014/03/24/alert-defcon-10-mode-initiated/
Thanks Metal. These fine folks can’t read. They only write.
FEYE, WDAY, SPLK, and YELP …abandon all hope ye who enter here. FML
as long as The Fly is left alone, he will make a come back.
Problem lies when clients start making capital calls and want out. You need to leave him be and work his way out of the positions.
I love this blog. Such honesty.
AND STOP TRYING TO WONDER HOW MUCH I AM DOWN. GOD DAMN YOU DEVILS!
dont have to wonder, its about 54%
he is down 10000%
Arrrr. There She blows. ‘jennifer’, comin to kick a lad when he’s down. Avast, ye see scum!
They want to know because it makes them feel better that someone “greater than them” is down same or more. Its a defense mechanism. And the others ones just want some gossip
i’d buy whatever childrens book you write
Lol I’m down 34% on what was once a low six figure account… Almost gave back all my 2013 gains and have no idea where to put my money
hahah
my duder that is sad newz…why u let ur positions runn u son, u sposda run yo positions! NEVA FORGET. basic player economnics 101, remedial class
As I told anoother poster, u either grab ur dick n pray to based god ur shit bounce, or u sell n say fuck it an learn from ur mistakes n vow to never let this happen again
When in doubt, no need to “do” anything, just sit in cash until you formulate a plan
You fucking idiots who are trying to guess the percentage decline for Le Fly should be shot in the back of the head and kicked into a mass grave, like they do in China. Do you fucking idiots understand that if Le Fly were to leave money management, it is very likely he will shut down IBC. Then where would you losers be? Le Fly will rise to greater heights than even he can imagine before 2014 is done at which point I hope he charges just to have the honor of posting in the “free section”. Fuck you all.
wow you sound like a real jerk
You are a pussy of the first degree.
lol. you have no idea
If so, this is no place for you.
Livermore, if you think he is really “managing money” buying stocks like IFON then you are a fucking idiot….no money manager would have time to police the comments section of a blog….only money hes managing is what you pay him to have the ppt tell you the market is oversold when its been down three days in a row
well said
DING DING DING
But still fly got story telling game that counts fo something straight up
May you be stricken with a severe case of the crabs within the next 36 hours.
pussy
May you experience a severe two week infection in your pubic region from scratching said crabs.
HAhA J you gayfer.
J’s favorite movie is The CRAFT, LOLOZ #confirmed
Listen to the PPT signal, guys. Shit’s bouncing from here, at least for a bit.
The Fly is dead. Buried on 4/7/14. Exposed as a big mouth with no substance. By 4/24/14, he will be seen in a soup kitchen near you, divorced, disheveled, and destroyed. Unless Netsuite blows out numbers. Then he will be the owner of said soup kitchen, with more compassion towards all. May the odds be ever in your favor, Fly.
LOL
At least Fly is in the trenches, putting his money where his mouth is. More than I can say for the haters commenting on HIS blog lately, gloating one of the few times he’s down. Hope he closes the comments again. I won’t be able to post anymore, but that’s okay. They won’t either.
I agree ..
Hey SPUD u ever hear that old Irish joke should i eat my potato now or let it ferment to drink later?
lol
A good play would be next months 20% out the money calls on feye, splk, wday….these should all retrace this recent 3 day down move very fast…
That has to be timed correctly though. 20% out of the money options will go to 0 pretty quickly if these names keep losing 5% per day. Before you know it, they are 40% out of the money…
yes but this past 3-4 day down move will be recoved swiftly…and u can take half off the table when they double…risk/rewrd very high ..most these options up 20% in the past 30 min now
I agree. I like the play a lot. I’m just saying you could have made a case for that same strategy just 2 trading days ago and the option would be down about 40% now. This will be a huge return if timed right, but the timing is obviously key.
‘Thar’ she blows!
A good dose of MYOB would serve many posters well.
This is probably a bit hard to believe, but the decline has only just begun.
+1
Shit u dentist !>!
Can u gimme a gold toof for all my front teeth n I want diamons in my incisors n also gold molars
@xxxhuggiebear, so you’re not backing up the truck for SPLK at 59.7? The problem with this board is the total lack of accountability, aside from Fly. Will SPLK be back to 75 by May or not? Seems as if that’s Fly’s hope. As we know, SaaS isn’t going away. Real question is whether IBM’s Cloud, post Cloudant, continues to use Splunk and will continue to use Splunk long-term. If IBM can create its own in-house real time big data analyzer, Splunk could be in trouble.
Leave the guy alone, and get back to your sad lives trading your lunch money in momo names.
Kickin a lad when he’s down ye be Jennifer, but ware were ye when yer ship hit a reef in BALT? n Cap’n Fly sailed over yer waterlogged ship shouting yo ho ho on his way to a pile of gold? Arrr.
Did anyone in here evey trade with a couple guys in a chat room in 2000 named Oldarmy or Heavytrader?…just wondering
Fly, those haters do not deserve to be dignified with answers
I enjoy these people. It’s like traveling with a carnival.
Its easy for people with no skin in the game to come on here and puke garbage out of their mouths.
None of you haters have positions. Just trolls with no stones.
“The Fly always end up on top” until he doesn’t…And yes boys and sally’s-it’s all relative…the real question isn’t how much is he losing in this market…It’s how much is he making from this Blog!
Fly- Of the four, which one do you think will bounces the hardest, which has the most potential: WDAY, SPLK, FEYE, YELP?
YELP
fly, when working the lunch shit at the club straight twerkin their yams, who do you think bounces the hardest when they slide down the pole: J Livermore, TheHarper, ripper, or Danny1980?
First of all, you gipsy. Your horrendous use of the English language is an embarassment to all. Furthermore, your style of humor is not funny but rather childish. Now, if you don’t mind, fuck yourself.
The blood-longing became stronger than ever before. He was a killer, a thing that preyed, living on the things that lived, unaided, alone, by virtue of his own strength and prowess, surviving triumphantly in a hostile environment where only the strong survived. Because of all this he became possessed of a great pride in himself, which communicated itself like a contagion to his physical being. It advertised itself in all his movements, was apparent in the play of every muscle, spoke plainly as speech in the way he carried himself, and made his glorious furry coat if anything more glorious.
bravo for that.
ALL GOOD THINGS COME TO AN END, boys, even bad things.
When I am gone, I will leave the keys to this site to men like Jennifer and HAHAHAH to run. It will be insightful to say the least.
LOL – love it. We’re 2% off the highs on the ES and everyone is going apeshit. Yeah, some of the momo names have been hit pretty hard, and not saying we’re done going down, but all the hand-wringing is silly.
Jennifer is sexybomb fire in her eyes n a lithe toned ass, she fina as hell yaheard.
Proud to announce formally to yall that we have eloped against her father’s wishes and are soon to be wed
Post coming at around 4:30ish.
BE THERE
Cannot wait.
We still on for tennies this afternoon ?! I copped some new nikes n my racket game strong these days
Who is this person impersonating me?
Shameful comments today, you ungrateful slobs. The Fly is God, you fucking trolls.
+1
This shit made my day, haha, these clowns are always good for a few laughs.
PAGIN RONG XU, I NEED TO KNOW IF FUTURES ARE A GOOD BUY HERE
FLY…Finally do I really get my top to all of this?? No Central Banker hiding in the alley to mess me up again. You know they will get us Bears Again, We don’t like Central Bankers at all. BTW, do you want me to bitch slap the fake Jennifer for you….
YES!
“Ca ca cat fight” —
Kramer
Go away, you gipsy bear
Fly-you have not lost in 7 years and just one so so season and the haters come out.It’s tough being on top in America.
Someone is posting on my name. I could care less how this Fly clown is down. He made his own bed now he must lie in it. Buying “the very best stocks” at 90 times unprofitable sales is a sure fire way to the poor house. Hopefully he learned from his mistake just like he did pumping shipping stocks when the bulk of China’s infrastructure buildout is completed and the world is moving away from dirty coal usage toward clean energy. Those two components are kind of important to the dry bulk trade last I checked. I shorted BALT at $6.6 and covered at $5.7. Then bought it after he sold and made $$. Now I’m long QID….since last week.
go away, gipsy
Post your trading activity screenshots. Cause I bought AAPL at 9 and sold at 550. These people are so pathetic its annoying. If you are so good start your own blog instead of trolling here.
jus FYI for u pimp TheHarper makes antisemite comments on the reg n extremely liberal u should axe him about his comments on a certain geographic area of tension that rhymes with PALACESTEIN
///public service announcement
Jennifer,
If you’re a women, go fuck yourself.
If you’re a man, go fuck yourself.
If you’re a hermaphrodite, go fuck yourself both ways.
Also you do realize that N (Netsuite) is a dime a dozen company that doesn’t really do much else different than the variety of companies out there like Volusion, Magenta etc. They are extremely overpriced at 150X free cash flow. Get real people.
^^ dis why I married you honey, she hot n smart n she cook a plate of yams with extra syrup !!! 😉 😉
Baby girl just dropn bombs on these chumps wooooooweee. TRY N REFUTE THESE PIONTS U CANT CUZ MY CHICK BAD
^^ dis why I married you honey, she hot n smart n she cook a plate of yams with extra syrup !!! 😉 😉
Baby girl just dropn bombs on these chumps wooooooweee. TRY N REFUTE THESE PIONTS U CANT CUZ MY CHICK BAD
By the way, you do realize it wasn’t valuations or Russia or whatever other cockamamie reason people come up with for why the market peaked. It’s two simple reasons:
(1) No Ben
(2) Obamacare
1 – Animal Spirits are gone
2 – Consumer spending took a hit.
<3 ^^ http://www.youtube.com/watch?v=0b3COanjHoo&feature=youtu.be&t=20s
My Dearest Mr.Fly:
You are one fucking incredible and exquisite writer. Your humor is for the ages. Due to my fate as a lowly plebeian, I have focused my energies elsewhere since ’12 and therefore have not traded since.
However, I continue to addictively follow your blog among other market/economic informational offering quite addictively.
My sincerest thanks to you for the fabulous free fuckery that transpires daily on these famous pages.
I would like to prophesy a furious (non-homo) comeback on your behalf.
Sincerely,
The Goldman Sachs (probably a repost)
http://www.youtube.com/watch?v=Lx4poQw1mZo
I don’t care
Except for a gigantic (for me and very likely for you as well) short put position in YELP (I win all the money if it manages to trade above 23 on January 16th), I’ve had no play in this market for about six months. Now it’s getting to be interesting. I don’t think this is the beginning of a long slide, because the whole playpen is completely rigged and if the riggers blew up we’d already be in the soup line. Will start buying in tomorrow, modestly.