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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.

One Mo’ Time….Fly me to the Moon!

Click chart below 2x

The above mentioned charts and graphs are meant to serve as a reminder that we are still in a bear market and “the bottom” may not have been found. More importantly, for me at least, it serves as a reminder that most things in life do not occur by chance. 

With recent wins in EME, SNHY, SRS, SY, IPI, and a few quick fire trades like [[TTEK]] which I bought at the close yesterday; I will now proceed to take 6 weeks off for Labor Day…As of today my trading account is up 30.064% for the year.

Unfortunately, I must befriend the FLY and abscond with the time machine. As in Slaughter House 5 “there is no how or why, but simply the moment.”

I will use this moment to hide out from what may befall man and his world on paper. Remember it is just paper; things like friendship, love, family, fishing, scuba diving, sailing, surfing, and golf are more important.

Stop and smell the roses! This morning’s roses for me will be to watch the sun rise while I’m trying to catch that elusive whale that got away and made me into a captain Ahab of sorts.

Kind Regards,

Green Writer

LOL~~[youtube:http://www.youtube.com/watch?v=YUpIjWAWDuQ 450 300]

For the purists: http://www.youtube.com/watch?v=1rAsoLm1Ges


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What an impressive comeback for the bulls despite oil up HUGE!

We now need to test the 1287 pivot on the S&P. With some luck the S&P will surprise everyone and make you a bull again.

I feel the most we could expect short term is 1310 -1325. There is a extremely small chance we might see 1350 ish.

This will be a chance to get profits booked and set up the short side again.

Tomorrow we have GDP and Friday is unemployment.

Over and Out….

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So our follow through was going fine until oil spoiled the party for the bulls.

I left to get some lunch and to pick up a few “tings mon” and I come back to find oil up $4+…

My guess is this is just a temporary short covering rally and a chance to shake the tree before tomorrows GDP report.

As well we have some gibberish Iran attack talks. This gives momo’ traders more of an opportunity to go short once again. Overall we are still net short.

Just because gasoline inventories are down coupled with a lighter than expected build in crude does not equate to  a $4 oil pop. $122 was a major support level and this type of activity is expected.

Of course I do not have the answers, but I feel this could subside after touching $127 and change which is where August contracts are priced. Both September and October contracts are priced @ $123 and change.

At any rate, I enjoyed marvelous profits in EME this morning and will pick TTEK 2 minutes till the close for a speculative earnings play.


by GW

[youtube:http://www.youtube.com/watch?v=2tjM7v7VOpU 450 300]

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A Special Message from your Governor

http://www.9wsyr.com/mediacenter/[email protected]&navCatId=5&rss=119



Deficit of $5billion to $6.4 billion in just 90 days

First quarter taxes paid by banks was $173 million. Second quarter saw a 97% decrease down to $5 million…..Thank you Wall ST.

Governor Patterson will do everything in his power to make sure NY families do not freeze this winter.

Government must cut up its credit cards.

Carry on as you were…

by GW

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

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MacDaddy Rally

So yesterday was impressive to say the least. None the less I do not take stock in kitchen sink q’s.

Bulls got the best of both worlds with the greenback spiking through the 50 day along with oil breaking key support (intraday that is.) The dollar is running like herring this morning on ADP’s job report. 

The SEC will extend it “no naked short sales for the financials”…egregious. Stop naked shorts for the entire market….The Federal Reserve with also extend the term aution facility until January ’09.

Yesterday’s best beat after hours was [[ADVS]] should be a momo’ trade here. This mornings best beat was [[BWLD]]

Today I will take down some TTEK for earnings after the close tonight.

Last q TTEK beat on the top and bottom line. They are looking for .24 cent eps with $285-$305mm in rev.’s {sic}.

I will also push out some [[EME]] today with prints from $25.50 -$26.83.

As far as the markets are concerned, the S&P should show us follow through with a hopeful close of 1281 or better. Just in case I’ll take 1274.


by GW

[youtube:http://www.youtube.com/watch?v=zThtnojxc4g 450 300]

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