I bought SOXL and LABU today — because nothing says bullish like getting long two of the worst 3x upside ETFs in the market, both of which have just bankrupted scores of traders. I believe, rather emphatically, the conditions are present for a 666 point rally.
The Nasdaq is moving in 15 point increments, wildly swinging to and fro. Sentiment is overwhelmingly bearish, and for good reason. Do not hate on me just because my greed is without boundaries. I have no bias other than a preconceived notion that all gains shall, and henceforth, be mine.
If I’m wrong, damn me to hell. But I seriously doubt it. “The Fly” doesn’t fucking lose.
This is the part of the narrative when nothing works to instill confidence, especially not the President via Twitter. Here’s Trump quoting a Wells Fargo analyst in a desperate attempt to provide succor for markets.
“If the Fed backs off and starts talking a little more Dovish, I think we’re going to be right back to our 2,800 to 2,900 target range that we’ve had for the S&P 500.” Scott Wren, Wells Fargo.
And here’s Trump trying to congratulate himself for up stocks, while at the same time painting a grim picture for stocks should you vote democrat. With this tweet, he’s saying ‘vote for those fuckers and this downward dog will last forever.’
The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders!
I really hate the fact he did this. The markets were set to bounce and now he spoiled it with weak man tweets. Markets want confidence now, not bitter trash talking. I suspect we might sell off a little more before the ship is steadied. Nasdaq futures are flat, but copper and WTI are lower by 1.5%.
The bull market is never coming back, not in your lifetime — maybe in mine — since I am immortal. I know what you’re thinking: “fly, dude, you’re tossing out some crazy mixed signal bra. You just bought some fucking stocks today and have positioned for a bounce.”
Precisely.
Bear markets have the best bounces, believe me. While some FUCKHEADS get long WMT here, hoping to hide like cowards in defensive names, I will be making scores of cash in high growth insane stocks. I’m really about that life and there’s nothing you can do to stop me.
Longer term, this market is toast. All of the signs are there.
Have a look.
Large cap stocks in a bear market. Prove me wrong.
Industries embedded in a bear market. This is proof.
What’s next?
Well, first we bounce and then we crash lower. This bear market will poleax much of the financial advisory world, sloths clothed in macro ETFs, collecting fees like ABSOLUTE FAGGOTS for doing nothing. Those people are dead. After that, IT budgets will be slashed. Because, let’s face it, programmers are nothing more than digital janitors — small men with large chips on their shoulders — always salty AF because their lives are lame. Their lives are lame — because they’re lame. After that, the lawyers get the pick ax, and so and so forth.
While all of this shit happens, Le Fly will be soaring at all time highs — because panic brings readers and the more people who read me grow fond of my brand of propaganda and my superb stock market analysis and prose.
This is how it will happen. Now you know. Go in peace.
Full disclosure: I’m salty AF for missing the crash. I knew it was coming and got HOOKED into the sentiment this morning, forced to average down later on during the day — now bewildered and dizzy from the panorama of fuckery.
I just stepped in and bought TQQQ — just because.
I was a fucking winner, up until today, 80% cash, swag like a motherfucker — long a sundry of inverse ETFs. Instead of continuing along that path, I dove in at the wrong time and belly flopped like a god damned fool.
The plans for the balance of my days is to brood, and then lament, brood some more, and then mope around the house. I probably won’t shave, instead opting for remaining in a morose state of regret.
I had some fucking YANG, SOXS, FAZ, and DRIP, but instead now own a series of unfortunate SAAS stocks and TQQQ. How did my life come to this?
Look at AMZN and BA.
FOR THE LOVE OF CHRIST, WILL SOMEONE SAVE THE MARKET?!
This is it boys — what separates the men from the catamites. Markets are in plunge mode and everyone is running around with their cocks on fire. I believe this is a fine occasion to buy the blood. I cannot think of a worse case scenario than this pin action.
The core of the issue are FAANG stocks, tanking lower by more than 3%. This is spooking investors and providing reasons to sell or avoid buying dips.
Markets are -550 from this morning’s highs. I suspect to see a cascade of selling soon; but hopeful that pessimism will provide smart money with a clean avenue to position into seemingly attractive valuations.
Stocks are all technicals, up until the point they tank — then fundamentals matter.
I bought the following, now all 10% positions. Cash is now 25%.
FIVN, HUBS, ZEN, UPLD, ZUO, DATA, NTNX
My stops on these positions will be tight, but I want to see the action tomorrow before making a final determination.
Life is a series of gambles — this is one of them.
We’re in the process of bottoming out now. Do you want to know how I know this? I don’t mean to be glib or provide you with an obnoxious form of candor, but the last of the bulls are now squealing and social media is abuzz with doomsday callers, all lining up to be executed by the market.
I don’t know this for sure, naturally — which is why I am 60% cash. But I am feeling bullish and I do like the market reversal today, as it sends the last bull to the gallows of misery hoping for an expeditious hanging.
My game plan is as follows.
Buy more. After those stocks dip further, buy again, and then wait. If the market turns against me, I’ll be out of these positions by Wednesday. But timing a bottom is hard, especially one wrought with fear. It’s a delicate process that requires a surgeons hand, steady and firm, yet skilled.
I just got done cooking a second breakfast, this time some eggs with a béchamel sauce — with a side order of more prosciutto. Markets have clung to the highs and I made a bunch of purchases this morning, most of which are now lower. But I knew that heading into the market. Timing bottoms is a very hard thing to do, especially when markets dislocate and plunge. If you’re buying into a bad tape, it’s a religious experience. You’ve got to have father in what you’re doing and you can’t second guess yourself, unless your stops get hit.
Now if the market reverses today, it’s true, I’ll both feel and look like a complete jackass. But that’s the price one has to pay when speculating in this tape. Let me remind you once again, 75% of my assets are invested in a quant account that is 100% long. I do not look at it intra-month. It is rebalanced the first of each month.
Back to the present tape.
Breadth is 78%, about the same in tech, and all you fucking catamites can talk about is AMZN. Hello, no one gives a flying fuck about Amazon. We’ve got BIG BLUE in the house, ripping out bullshit third tier cloud companies at 63% premiums.
If the market is going to be fine, it will bounce this week. There are no two ways about it. Either buy now and hold your breath, or stay short, betting on an end of days scenario to play out.
Which do you think is the higher probability play?
There’s nothing worse than being short like a fucking idiot when the market turns and bottoms. I’ve endured this humiliation before and it always begins with days like this — piss poor rallies that look like they’ll fade. Fuckers in bear costumes pile back in, hoping for the kill, only to be unceremoniously EXECUTED later on in the day.
I sold all of my inverse ETFs, and my upside bond ETF, because I am done betting on the downside. Yeah, I know, markets can still truck lower. But we’re already down huge and this open might be a prelude of things to come, a fucking strong as shit rally attempting to bust loose and cave in your faces for betting against it.
It’s hard to make money as a trader. Don’t let anyone lie to you or say otherwise. Feel free to hit them hard in the face. But this shit is an easy decision. Booked gains in the inverses, more than 12% in DRIP. Fine by me.
Now I’m in cash, 95% cash, waiting for the next move.
In recent weeks, I haven’t given a damn in hell about my health. I suppose it has something to do with my schedule, being too busy to play with the barbells at the gym. Now that I’ve stopped obsession over health and fitness, I’ve gone the other way and have began eating like a true barrel ass.
This morning I made myself some black coffee and instead of drinking it black, I drank it with half and half. I also took some of that half and half, cracked a fucking egg in it, a little vanilla and copious amounts of cinnamon, and made myself a French toast with some leftover brioche bread. Believe me, there had to be at least 10,000 calories in it. Because my son accidentally ordered 2 lbs of prosciutto at Whole Foods this weekend, I took some of that shit and fried it up real nice. After the fat had rendered, I took some maple syrup and fucking deglazed the pan with it (hahahahahaha) — and then dumped it onto the buttery French toast and prosciutto.
What an unhealthy breakfast! And you know what? I don’t give a shit.
This morning’s big news is the knuckle dragging apes from IBM paid a 63% premium to acquire RHT. Wall Street is getting real excited about that merger — mainly because we’re desperate to bounce.
Nasdaq futures are +100. Let’s not assert our bias unto the market just yet. Let her breathe and absorb the fuckery of the margin liquidations first, in order to see if she can deal with the elements before taking action.
I live for this sort of shit. I get to see a tragic economic collapse from afar, totally not affecting me in the smallest of ways. I think about this and then I say to myself “what the fuck is wrong with me, I must be an evil man or some shit.” But then I start to think about how charitable I am here on the blog, offering ideas and stratagems for free — helping those who are mentally retarded make a living in stocks, and then I feel good about myself again.
Truth is, I don’t want to see China go away, or suffer too severely. It’s just en entertaining thing to watch, from a market perspective. Am I right?
If you agreed, you’re an evil bastard.
Early indicators suggest a great weakening is occurring in China.
“The early indicators show that economic conditions continue to weaken both on the domestic and external fronts,” Bloomberg Chief Asia Economist Chang Shu said. “Economic sentiment is very poor, particularly among small private firms. We expect policy support for the economy to continue to broaden to all aspects of growth — exports, consumption and investment.”
And the WSJ is out with a fucking Tommy Gun hit piece on Chinese PE, pointing to lack of unicorn growth because investors think the whole bag of flaming shit is about to get stomped the fuck out.
The tide is suddenly turning against some of China’s most valuable technology startups.
After months of surging valuations among dozens of private companies in the world’s most populous nation, investors are growing cautious about businesses that are burning through cash rapidly or that are encountering hiccups in their growth strategies.
In recent weeks, several Chinese tech unicorns—private companies valued at more than $1 billion—have struggled to meet fundraising targets, according to bankers and investors. A few have delayed plans for initial public offerings, while some investors have lowered their estimates of the worth of one of China’s top startups.
“Pessimism is spreading,” said Shen Meng, director at Chanson & Co., a Beijing-based investment bank. Sharp declines in the stocks of both major and recently listed Chinese tech companies alike are also stoking investors’ skepticism toward unicorn valuations, he added.
It’s all over ChinaFAGS. The end of days is here, now.
Chinese shares are down 1.4%, up from an earlier 3.2% deficit.
