Victory!

“The Fly” is covering 90% of his shorts right here, right now, including all of his inverse etf’s.

With the proceeds, he wll brag about his 60% ytd gains and spit on homeless men on the way to his local eatery.

UPDATE: My selling is complete. At the present, I own small pieces, which are quite large for you pikers, of [[FXP]] , [[SKF]] and [[EEV]] . I will sell the rest tomorrow.

Again, I am not buying anything.

UPDATE II: I’m out of here. Off to eat some dead lobsters and shit.

Some of you go on short term streaks of gaudy, yet ridiculous, coin banking endeavors. Some so called “legendary” money managers blog on the interwebs claiming to know all, yet offer nothing but capital losses when shit hits the meat grinder. Other talking faces go on the gogglebox and yap up a good spiel, but come up snake eyes when managing their assets in real life.

On the other hand, “The Fly” is in a constant state of victory. It humors him when some of you pigeon feeders say “oh shit, Fly is a dick. That’s a contrary indicator, bitch.”

It does not anger me to read such tomfoolery, since had you traded against me for the two plus years I’ve been schooling you fuckers, you’d be down like 100% on your money.

Hence the term: “it’s not who laughs first, but who gets to bankrupt the other,” applies so candidly.

By the way, commercial RE is in full fledged disaster mode here, enabling “Plutonium Petey” to bank even more coin in his greatly reduced [[SRS]] position. A special shout out to “Reggie” for nailing that General Growth Properties, Inc [[GGP]] short sale call.

In closing, I am in celebration mode here. I have frozen my activities to short covering and inverse etf sales only. Unlike previous cataclysmic drops, “The Fly” intend to nail this one, then go to cash, while the world burns around him.

NOTE: Doug Kass is just an idiot.

UPDATE: I bought 3,000 [[FXP]] @ $121.

All of you are staunch communists and you don’t even know it. You’re over there, in your bullshit office, sitting in your bullshit chair, wishing and praying for the Fed to buy commercial paper. What the fuck is wrong with you (“The Fly” is talking to you, directly)?

So now the Fed is going to take tax payers money and buy Caterpillar Inc. [[CAT]] bonds? Great.

After this uber recession is over and done with, our government will own the entire banking industry and everything else, via commercial notes. Don’t you see the writing on the wall?

Answer: of course you don’t, because you’re an idiot.

By the way, the strong dollar is God smacking the U.S. economy, amongst others. Ever since we’ve been “enjoying” a strong dollar, commodities have been getting gorilla raped, and our exporters have been merely ape raped. Also, keep in mind, much of the ‘global growth story’, that you morons were espousing, relies on commodity driven economies, such as Russia, Brazil and many pac rim players. In short, the strong dollar may not have caused the slowdown, but it definitely accelerated it.

Or, one can make the argument that we never really recovered from the 2000 collapse. The temporary rip in the markets (2004-2007) was a direct result of a commodity bubble, caused by an insanely weak dollar.

You decide. I could careless.

A great man once said: “My feelings, as usual, we will slaughter them all.” Everyday, I wake up to these words of wisdom. Senor Tropicana will continue to slaughter them all, each and everyday, until his fucking brain explodes and/or his arms and legs get ripped off from his torso.

Unfortunately, I have a business meeting to attend this morning and will not be able to clown around with you pikers, until noon-ish. In the meantime, just know, I have every intent on selling short this jerk off market until the goats come home.

More on this later.

You’re all a bunch of grotesque looking, fish odor smelling, fat neck having, bottom calling mother flowers.

I hope 99.9% of you long term bottom dwellers morph from pigeon feeding imbeciles into “instant millionaires” tomorrow, during the scheduled “major short covering rally.”

Being that we have like 00.001% on the downside left, with 1,000,000% on the upside to go, “The Fly” sold his boat, car and watch, in order to lever up and get long stuff. All sorts of fucking stuff, because the internet said so.

Who needs years of grueling money management training when there is the magical internet?

UPDATE: Iceland, major carry trade player, is on the verge of national bankruptcy.

[youtube:http://www.youtube.com/watch?v=NKcHftQoQp4 450 300]

You idiots never learn. You’re like small children waiting for Mommy (The Fed) to give you a bottle.

Asshole dip buyers could not resist buying the carnage, effectively delaying the inevitable mark down of stocks. People stepped in, with hairy knuckles and deformed faces, and sopped up shares of destroyed ag and bank names, because they are hopeful of a 100 basis point Fed rate cut.

Take a step back and realize how idiotic that is.

The market is going lower because the global economy is in the process of slowing, with great vigor. All companies that rely on emerging markets or credit, will continue to suffer despite lower rates.

So, in short, I was going to buy today, only if it was ugly. However, since all of the idiots were out and about lap dogging the bulls, I decided to hold cash and wait for better bids.

NOTE: I sold half of my [[SRS]] , 25% of [[FXP]] and 25% of [[SKF]] , with no buys.

I am running screens of stocks with high cash levels, no debt, who have been punched in the family jewels. I cannot believe [[REW]] is over $105. The carnage is somewhat mind numbing and would be depressing, if I didn’t have ridiculously sized short positions.

There are so many stocks worth bottom fishing. But, it makes more sense to short cut the research and get long 200% upside etf’s, like [[UYM]] , [[ROM]] and [[UYG]] .

I have a lot of cash right now. I sold out of half my [[SRS]] position, north of $109, and want to get long.

But, considering the downward momentum, I deem it to be too dangerous to buy here. We are likely to “enjoy” another gap lower tomorrow.

So, in short, I am long [[SRS]] , [[SKF]] , [[REW]] , [[FXP]] , [[EEV]] , [[SSG]] , [[TWM]] ; but will look to buy the death, sometime soon.

SPECIAL EMERGENCY UPDATE FROM THE VATICAN:

The Pope has spoken. The financial system is ‘built on sand.’ The apocalypse nears.

———————————————————————

…you do not start looking for new couches and side tables, for your bullshit house. First, STOP the bleeding. Do it now; it’s never too late.

Next, think rationally and try to resist the temptations to “make it all back” in one trade.

Get your fucking lists ready, both long and short.

We all know the commodity sector has been ravaged. But, that is not reason enough to get long. If you insist on putting your hands in the fire, be sure to limit your time there.

At the moment, “The Fly” is eating popcorn and drinking excessive quantities of Monster Energy soda, while watching Dick Fuld “fortune cookie” himself on “The Hill.”

As for bottom fishing: Don’t do it.

This fucker (market) is likely to halt trading today or close at the lows of the day. If you insist, get long a few lotto tickets 10 minutes before the close.

With my money, in an unprecedented move, I may just cover my shorts, go to cash and throw my trader/servant out the window.

I know, you guys are just panicking here, with the markets cliff diving through 10,000. You must be like “OMG, ROFL, LOL, where is Fly, I’m gonna die.” It’s true, some of you doubt my stock market prowess, despite demonstrating clear superiority dozens of times, live on iBC. It doesn’t really matter; because I really don’t care.

But, you will be happy to know, I have like 3% of my capital long stocks. I have short positions flowing from my ears. I am simply steamrolling the competition, via outrageous gains today.

For you common/internet folk, have a looksy at Vulcan Materials Company [[VMC]] and [[SKF]] . I am mushroom clouding it, with great vigor.

In between sips of ambrosia, derived from a diamond chalice, “The Fly” is planning his next attack—this time on the long side. As you know, it would be stupid to short more, down at these levels.

The big picture, sorry to steal a non-copyrighted phrase from Mr. Big Picture himself, is the end of globalization via coordinated financial meltdown. The ramifications will be severe.

With zero leverage on the long side now, commodity stocks are getting poleaxed, especially oil. Frantic deflation is checking those turban lovers at the door of poverty. I would not be surprised to see oil south of $50. The ball is rolling downhill and it’s gaining momentum.

By the way, ABB Ltd (ADR) [[ABB]] will lose middle eastern infrastructure projects as a result of the oil collapse.

With my money, I am looking for a long idea. But, at the same time, I am not covering any shorts. However, sometime soon, I will blow out of most of my [[SRS]] , north of $105.

Hey, and it isn’t even Halloween yet!

JPM killed LEH

It is highly likely [or a certainty on my planet] that J.P. Morgan was INSOLVENT and was “BAILED OUT” last Monday, September 15, to the tune of 138 billion dollars. This would explain why the Fed and Treasury dictated that Lehman fail – to disguise or otherwise obfuscate the recapitalization of or illicit transfer of 138 billion to A MUCH SICKER, TEETERING ENTITY, J.P. Morgan Chase.

Germany bailing out home lender

The government and the Bundesbank have said that Hypo Real Estate, the nation’s second-biggest property lender, is too big to fail.

Citi continues its efforts to rape WB shareholders

“Any such agreement between Wachovia and Wells Fargo is illegal,” Vikram Pandit, 51, Citigroup’s chief executive officer, said in an e-mail Friday.

Solar is for hopeful idiots

Without incentives, we don’t have a market, period,” said Paula Mints, a principal analyst at Navigant Consulting (Palo Alto, Calif.), speaking at a solar event sponsored by the IEEE here.

PC demand is non-existant

“We may see zero to five percent growth this quarter which would be very unseasonable.”

Semi cap ex in panic mode

A decline of 20 percent in worldwide fab equipment spending was expected for 2008, but the sector was originally projected to rebound and grow over 20 percent in 2009, according to a report from SEMI (San Jose) in August.

Icahn on the bailout

In my view, the primary factor that got us into this mess is the egregious mismanagement and short-sightedness of boards and CEOs of these institutions, who took inordinate and leveraged risks with stockholders money, not simply external factors like the housing market slump.

Nvidia sucks

Nvidia is having a hard time selling its cards at the moment, due to them being fairly average in the performance department, overpriced, and rotten.

Russia is collapsing

So what’s killing the Russians? All the usual suspects — HIV/AIDS, tuberculosis, alcoholism, cancer, cardiovascular and circulatory diseases, suicides, smoking, traffic accidents — but they occur in alarmingly large numbers, and Moscow has neither the resources nor the will to stem the tide.

Can oil producing nations survive downturn?

“The question is whether we are going to have a rolling back of globalization and therefore emerging markets will not be able to continue growing in the same way,” he said. “I think the globalization process will continue but a lot slower.”

European car makers look for 55 billion EU handout

“We’ve seen that the U.S. industry is now getting $25 billion worth of support in terms of financing,” Marchionne said yesterday in an interview at the Paris Motor Show. “It would be absolutely necessary that the European Commission do exactly the same thing. It was $25 billion for the U.S., in our case it’s 40 billion euros because we have twice the capacity.”

Steve Jobs has a secret factory

The factory, as Jobs described it, had everything: robots, lasers, tolerances within one 10,000th of an inch, defect rates of less that 17 parts per million — one tenth the rest of the industry’s — and the speed to turn out 60 machines a day.

D-Day approaches for derivitives

“There is a lot at stake,” said an executive at one big dealer. “This is a crisis time, and if these auctions do not go well, or if the amounts investors and dealers have to pay is seen as not being fair, it could have further negative repercussions on the CDS market.”

Regarding this weeks CDS auctions: “The Fly” will be watching, while eating absurd amounts of popcorn, like this guy: