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Dr. Fly

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.

The Fate of Western Markets Lies on This Singular Chart

Every single time markets look like they’re through, finished, finite, BAM! — they come racing back. The same shit happened last week, led higher by the Nasdaq.

Yes, Exodus did nail that motherfucker to the exact day, straight flexing and bowling on all of you third tier bloggers out there who think they have a system.

You don’t have a system, fucked face. I have a system, rooted in the sublime harmony of mathematical precision.

Lots of noise to consider when investing in this game. This isn’t for the faint of heart, or most women with a low tolerance for scary shit. It does get scary out there and men are a necessary evil to fight thru that malevolence. There’s a lot of fucked up shit going on in the world and I realize women need big powerful men to make then feel safe. Just know, “The Fly” is that menacing anti-hero you’ve been looking for, although I am not single. I repeat, “The Fly” is not single, a happily married man dealing with the tumult of an otherwise moribund existence, intermittently interrupted by heinous household maladies and stock market victories.

CHEERS TO VICTORIES!

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Market Surges, Greenland is Ours, Nothing Can Stop Us Now

Trump wanting to buy Greenland is genius, especially since global warming will make it a nice tropical destination in the future. I hope that will acquire it and begin developing large casinos on it.

I had a splendid day, after all. My Quant was +1.75% and my dick swung real low into the rally, as I position into 4 new stocks — having sold out of my harebrained SOXS debacle. While it’s true, I still have plenty of gold, I’m not in the least bit concerned about them trending lower for any meaningful amount of time.

Heading into next week, one should expect a revival of animal spirits and a meaningful push higher, as fresh spirits and a clean outlook on life grab hold of the peanut sized brains of traders.

I will be toiling away all day and night, cramming items into boxes and tossing nonsense into the trash. I will have you know that moving is a terrible terrible affliction.

Be well and good day.

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A Review of House Fly’s Positions and Predictions for the Markets in the Interim

Let’s review today’s market together and my moves, shall we?

NVDA guided LOWER for next quarter, stock surged.

Me: FUCKED.

Like a moron, I bought SOXS because I wanted to ‘hedge.’

I just kicked it out for a 6.9% loss.

Yields a slightly higher and gold is off by 0.7%.

Me: FUCKED.

I own a slew of miners and I just bought NUGT yesterday. I’m not selling here, because the night is dark and filled with terrors — but fucked nonetheless.

It should be noted, and it will be noted here now, the Exodus oversold algorithms called the bottom to the exact day again.

Me: FUCKED.

I was long TQQQ on this news, but kicked it out for a 1.9% loss, only to see it scream higher today. At this point, members of the Pelican Room are operating independently and without my sage advice.

Let’s see what else I have the fuck going on.

I’ve got 8 stocks in my trading account up more than 2%, and one I bought yesterday +1.65%. Aside from NUGT, only one of my miners are down more than 2% — so you’re probably wondering why I’m making such a big deal over it. Well, I don’t like missing out and this isn’t an ordinary missing out either, since it’s a rare fete to see the system spit out an OS and it’s horrible enough to have a short semis ETF in the mix, let alone having levered up into gold on a down day.

My Quant portfolio, which is 75% of my money, is up 130BPS for the session.

What do I think markets will do next? It’s fairly obviously going higher. Why did you even ask that stupid question?

Fuck off.

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Tough Spot for LongTARDS — The Ark Floats

TLT is nearing $147. You know what the means, motherfucker? It means shit is popping off in Fed land — people getting their whigs pushed back and BTFO.

Look at what the fucking NY Fed is posting on Twitter. These people are fucking morons.

So I got to thinking — maybe nothing is going to happen. Maybe this market will do a whole lot of nothing. Under those conditions, you might as well raise cash, hedge a little, and drink gimlets until Labor Day.

I am moving now, so I can’t drink too much. But I will partake in a gimlet or two.

Truth be told, this set up is confusing. LongTARDS will always buy until their faces get blow off clean. I am of the inclination that gold is the only asset worth buying all the time. Stocks are, for lack of a better word, dead. They have shot their load and are now coasting.

Worst case: NVDA misses earnings and the semis COLLAPSE tomorrow.

Best case: Trump tweets something wonderful and we blast off.

We are oversold and we can rally a solid 300 from here. Or, judging by the technicals, rates, and commodities, we can break lower and test the June lows — about 5% lower. If that happened, would it be the end of the world?

No.

Chill the fuck out and enjoy the scenery.

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Not a Good Look For Stocks

I was hoping for a clean break lower after the initial incline, in order to buy more. Instead, we have a milquetoast flat consolidation day after a fucking meltdown. This is not exactly what I wanted to see. I’m afraid that if we do not flush out today, we can and will flush out tomorrow.

Two scenarios work for me.

1. Nasdaq regains balance and gaps up 75 points from here.
2. Nasdaq flushes out and loses 75 points from here.

A flat close makes me want to raise more cash.

It should be worth noting, it’s entirely possible nothing too spectacular is on the horizon, just more hemming and hawing as summer winds down. I would not anticipate anything too large on the upside or downside during August.

That being said, positions should still be watched closely and 10% stop obeyed.

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Madoff Whistleblower Warns of The Great $GE Scam

Shares of GE are getting flexed on like a motherfucker — after some Greek bastard issued a report — which has credence since he was one of the faggots who warned about Bernie.

General Electric shares fall after Madoff whistleblower Harry Markopolos targets the conglomerate in a new report, calling it “a bigger fraud than Enron.”

The 175-page report claims GE was hiding the depths of its financial problems and would need to significantly raise its insurance reserves. It also points out alleged accounting issues with its oil and gas unit.

“My team has spent the past 7 months analyzing GE’s accounting and we believe the $38 Billion in fraud we’ve come across is merely the tip of the iceberg,” Markopolos says in the report.

Markopolos says he has given the report to securities regulators and that certain information he has uncovered was given to law enforcement only, and is not in the public report.

Everyone knew about GE and their underfunded pensions and how fucked their energy division is, yet no one cared until some fucked face named Harry stepped into the fray. Whatever.

Shares are barreling lower, but junk bonds are unaffected. During this market, GE is our Lehman, the proverbial canary in the coal mine. Lots of debt. Lots of liabilities. Very little chance of surviving.

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Cramer: ‘This is Not 2008’

If you’re thinking we will soon be entreated to a 2008, once every 100 years decline — you’re wrong. While the bubble is frothy and filled with air, there are none of the signs of meltdown now like there was in 2008. Cramer is making some obvious points here.

CNBC’s Jim Cramer says Wall Street should not assume a recession is on the horizon.

This time around, he argues, it’s not concern over consumer confidence, credit or derivatives that’s causing markets to fall.

Cramer cites former Fed Janet Yellen who said the yield curve inversion as a recession indicator appears different this time.

Remember what 2008 was all about. Absolute homeless people buying $800,000 homes with HELOCs attached, getting BTFO when Greenspan hiked rates. Had Greenie kept rates low, that homeless dude’s house would’ve been worth $1.5m today. Instead, Joe Blow from the sanitation department bought it.

Housing is the biggest risk to the system. Everything else can be handled and dealt with.

Markets jumped off at the open and are now melting the fuck down. This is typical and customary after large decline.

My best guess is for flush out if we go negative, followed by a bounce. Let’s see how it plays.

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TRUMP: FUCK THE FED and Their “CRAZY INVERTED YIELD CURVE!”

Markets slides, Trump tosses Powell undertone bus. What a time to be alive.

Smells like fear.

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THIS IS WHERE MEN BUY

Women should not participate in this sort of fucked up tape. I repeat, this is not a market for the fair sex. Leave this to the disheveled and 5 o’clock shadow man, who has nothing to lose but his pride, dignity and all of his money.

There’s nothing to analyze here. Either you buy now betting for a morning dip, or you sell short, hoping the collapse is here and will rip off the face of President Trump.

Which do you think will occur? I can tell you how I’m playing this, but you’d need to be an Exodus member. So sorry.

I will tell you that I kicked out my FAZ position into this melee if that helps at all.

Ciao.

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*** CANCEL ALL ORDERS ***

It’s over bull-tards. It’s over.

Do not place orders, but instead CANCEL THEM. I entreat you to remind yourselves that “The Fly” is a superior trader and person in every way possible.

It’s over.

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