I know many of you “low-enders” love to look at squiggly lines and predict the future, by using your fucking ruler and #2 pencil.
However, deep down, you know as well as I, charts are for asshats–especially during corrections.
Meaning: everything, with the exception of select consumer staple stocks, like CLX, PG and UN, went down in a convoy. There was no distinction between crap or non-crap. It’s all crap.
Corrections are the ‘great equalizers.’ It sets everyone back to square one (some closer than others), giving you the opportunity to outperform your asshole friends– on the next leg up.
Don’t try to out think the market or get fucking fancy with seemingly ‘undervalued’ picks. Everything is cheap you stupid bastard.
That’s why it makes sense to burn your charting software to a cinder– and buy what works.
Prior to this recent nut cracking, GRMN, VMW, FXI, AAPL, RIMM, POT, MA, MON and GS worked.
My guess, on a bouncy bounce, they will work again.
The kicker, following the upcoming bounce, you may have to do a little research, in order to decide what stocks will lead the market higher– longer term.
We’ll cross that stupid fucking bridge when we get there.
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amen
FUCK T.A.
Mr. Fly,
Flyesque website. Like the new and improved site. Glad to know you didn’t quit when the tough got going.
Hey, I did have a question about your post on MVIS a few days back. You said after CES that you’d start to unload 2/3 of your position. What price do you expect and be content unloading at?
My chart says VMI is in a downtrend, should I burn it?
We’ll see. I say things get even cheaper.
Whats the Deal with VMI? Straight line down from 95!!!
Fly,
This is true. While the “old leaders” may work for a short term bounce off their MAs, we really need to find out who the “new leaders” will be when the correction is over.
As IBD often says (they repeat themselves all the time) leaders rarely have repeat performances.
So, get to that watchlist, mmmkay?
-DT
Butt Nuggets
It’s called a correction, you stupid bastard.
Ask me something like that again–see what happens.
I just shorted the Q’s.
Heppily.
Looking at more JPM.
The Fly is God.
Technical Anal sucks
Fuck your charts.
HEEEEE-HAAAAAA.
Developing…
Hey Fly,
Is that Stock trading robot banner on your home page real?
Does it mean I can start with $1000 and compound it in to $42,294,890,204 in 60 weeks. Where do I buy this robot?
Thanks. I know this ghetto looking website was good for something.
kd
I love robots
Anyone having a problem with being able to post in the peanut gallery?
This message applies to those who signed up.
I’ll have you know the Donkey Laugh is nothing compared to the Ray Liotta Laugh.
I will be Ray Liotta Laughing as the Q cascade begins.
(Momentarily now).
Can ya please make the homepage full width fucker. This filling up half a page shit ain’t gonna cut it partner.
Gap up = slap up,
time to get yo strap up.
Bone,
What the fuck? Who cares? Are you wall-eyed or something?
Jake, if this time is anything like other times, the Nasdaq will probably rally another 80 points or so before turning back.
Fly,
I haven’t tried posting yet… I’m looking for some appropriate porn.
-DT
he has the web page only fill half the screen so you will have room left to see your charts on the other half of the monitor.
Doug Kass is trying to “homo-hammer” the markets by calling a bottom.
Although I did nibble at the QID again, right here.
What I feel confident about is that there will be another leg down.
annony: Charts are for asshats.
Jake succumbs to the dark side .. hes hanging w Fleck & co .. but Kass has turned his back on Jake is now on the side of light, happiness, alls well that ends well (for a trade, that is)
MaVIS is the gayest of the gay…
Viz.
Fly,
your style is now sort of forced.
You’re cursing for an audience, it used to be more natural. Hope you can recover. It’s all the media attention, you don’t have to put on a show, just be yourself ha
I registered yesterday for the Peanut gallery. Never did get my password in my E-mail.
TC:
Try again, with different email, if possible.
Quit odd, no?
SMH,BRCM could be a good daytrade short here.
Noni:
Sorry for the excessive “fuck you’s.”
Fuck you.
Doug Kass kisses Donald Trump’s lower back and navel.
Fuck you Fly, don’t apologize for that shit.
The Fly has no charts, even in his fancy time machine. Odd, no?
But I said “fuck you.”
Doesn’t the “fuck you” offset the weak kneed apology?
Fuck that. The Fly looks at charts, he just realizes that they’re beneath him.
Ahhh, leave it to old Sam Walton to reach up from the grave and slap some sense into those whiney short fuckers
Looking at charts is like trying to find a dick in the clouds.
Paul, why are you looking for dicks?
Woody,
Whats your upside target for the Nasdaq ? Thinking of getting into some QID but need a low risk entry point. I don’t buy this rally but it could go on for a day or three.
Cap, 2710 for the Nas. That would retrace roughly half of the move, put it right beneath the 50 day average, and just below recent support.
Today’s rally came after no less than 2 technical buy signals- support at 200 day avg and RSI(2) just above 2.
Therefore, I see no reason to believe that this rally won’t fail again at important technical levels.
Cap, I should add that a short at that area is probably as low-risk as they come. Whether the Nas can rally up to that point? Who knows. What is killing me is having the patience to wait that long to really get started building short positions.
I couldn’t understand some parts of this article Charts Are For Asshats, but I guess I just need to check some more resources regarding this, because it sounds interesting.