Look for Japanese corporate hedges to trigger, as soon as yen/dollar hits $99. The dollar is going to get routed.
UPDATE: Lenny is coming out of retirement too!
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Joined Nov 10, 2007
23,433 Blog Posts
What now ? Is the FLY the Frank Sinatra of the trading world. Coming out of retirement.
Admit it, you were laying low while letting this Spitzer scandal pass by. You were client #8 weren’t you ? or perhaps you were chairman and CEO of Emperors Club VIP . This whole trading operation of yours is a shell to cover up your actual ‘business’.
Dont buy this sell off… since the fed head rally, the SPYs closed right around the 50% retracement, the Qs at the 38% retracement and the IWM at the 50% retracement. This has bear trap written all over it. One thing to note is the heavy volume near the close.
Fuck you. Never attempt to give “The Fly” advice. EVER!
You’re just cross because the SHU Ass Pirates’ effort was “lackluster” tonight.
Get a rebound for cripes sake!
Lazy fuckers.
Speaking of client #8, apparently this here girl is the infamous ‘callgirl’:
http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendID=69041220
Not bad, Mr. Spitzer, not bad at all.
Am I the only one amused by the Carlyle Capital ticker?
CARC.AS
Peez,
These two are more human shots of her.
They’re both from the same myspace page (click ‘pics’ under her profile pic).
My favorite is the one of her passed out…as she claims, she does this a lot. Party on, girl!
Dollar/yen crashing like Spitzer after an all night coke & whooah binge.
Down another 1.08 right now.
Jake:
You seem like the only person who is actually aware of the dire consequences of dollar/yen.
This is worse than bad. It’s grave!
Anyone watching Bloomberg?
Should I be?
I’m watching Drake on the PS3…
So this whole Dollar-Yen thing is going to cause a cascade of failures across hedge funds, which means the fed is going to print more money? This is like canned foods and ammo scale, I mean, gold is nice lately, but jesus, this is “my brokerage might fail from counterparty risk” kind of shit.
It’s starting to hit the fan.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a27ldweXtg0Y&refer=home
And there goes the US Dollar.
My ALL Short heavy positions will be rewarded handsomely tomorrow.
See you on the field… Fly welcome back, kill them all.
Run Through The Jungle
I watch bloom/cnbc asia, all night.
yeah …. what’s my money market invested in?
Me too Fly … I’m good till the guy with the real Brit accent loses me then I nod off.
CNBC Europe/Asia is all I watch. Everything else is too manipulative.
Paulson to Propose tougher Bank Standards
Day late and a few dollars short!
Don’t sleep.
You guys must get FoxBiz in NY don’t ya?
Liz Clayman … doesn’t flaunt her cleavage as much as when on CNBC
Maria on CNBC is her breast replacement I guess
Yeah, she’s easy on the eyes.
Dow Futures down 127
Fly,
Somebody said this was you just prior to your “retirement”. Obviously, you hadn’t been getting enough sleep. Is this any way to talk to your clients? You definitely needed the time off. I thought you were going to blow a vein.
Anyway, welcome back to the real world. I knew you’d come out of “retirement” in short order (pun intended).
See the new gasoline ETF (UGA)?
http://new.quote.com/us/stocks/company.action?s=UGA
See the new gasoline ETF (UGA)?
thx.
If gas goes to $4 s/b a 25-35% gainer, No?
Buy the ETF and short the refiner!
So it (UGA) just tracks average gasoline price?
Looks like it was $50 at inception…to what pump-price does that correspond?
Relax Mr Rubenstein, I just came to give you a message from Jay Z. He said fill the glass to the top with Moet, feel the Lex pushin up on the set, feel the high that you get from my lie. If you feeling real high, raise your l to the sky.
And oh yeah for now life, close your eyes and feel this dick.
Life ain’t nine six forever, rock a block, rock a fella.
I got the rest of the music if you asm ke too.
Take that back McFly, I was caling the jap/euro cross three weeks ago.
DPZ,
http://finance.yahoo.com/q/pr?s=UGA
May I have a tutorial on the dollar/yen please?
Fuck I’m good!
Suffered through this 3 day bull trap (erroneous rise in stock prices when I dictate that they must fall) by hedging with some index call contracts. Sold the hedges at open yesterday after the market gapped up at the open. The indexes have slid since, with the lovely -4.79% (HSI) and -6.08% (HSCEI) drop today. I was away all afternoon, so was unsure if the market had listened to me… turns out it did!
Love being short when the world ends… because I’ve discovered a way to “take it with me”.
Anyone who has bought stocks this week, is an “arsehat” (I did say arse). When you want to trade these killer Asian market swings, I’m your man (I’m not really, but it’s chest beating day today!).
Am hoping for armageddin tonight for you blokes 🙂
Being a Gator I could never buy UGA (University of Georgia).
From Bloomberg:
“The dollar’s drop may prompt Middle East central banks to reduce dollar holdings. “Sentiment for the dollar continues to deteriorate very, very rapidly and if we’re not careful this will turn into a dollar crash.””
Well, this is just getting more interesting every day.
Bye bye hedgies?
“Credit squeeze hits three more hedge funds – FT
FT reports another three big hedge funds have been forced to close down or to suspend investor withdrawals as the credit squeeze persists. Drake Mgmt, a $12 bln New York manager, wrote to investors in its three hedge funds on Wednesday offering them the choice of winding up the funds after about half asked for their money back. Global Opportunities Capital, a $870 mln Amsterdam hedge fund, said it would block withdrawals until the end of the year to prevent firesales of shares in small Benelux and German companies. It also emerged that Blue River Asset Management, a Colorado-based hedge fund manager specializing in municipal bonds, was to shut its main fund after nearly 80% losses, even after raising $110 mln for a fresh fund. The scale of the problems at the three funds was not the same, with Blue River, the most highly leveraged, worst affected.”
BOOM –
I learned about this over the summer and asked that it be explained as if i were retarded. Here’s how I see it:
You could either borrow (or short at low risk) the Yen at very low rates and turn around and re-lever that money you borrowed to invest in whatever. So if you borrowed at one percent you could easily turn around and get 3% on a safe investment in t-bills or whatever (I have no idea if those interest rates are right).
I’m sure most weren’t investing in the safest plays, but it was quietly a source of funding for many, many years from what i was told.
Of course, this is probably way off or understating things, but it’s on the retardo level that i need.
I will be covering on this selloff & buying for monster rally off the lows.
I won’t be going 200% long, but net long, because I’m a pussy. If you go 200% long, you may make your year in one day or you may lose your alt-A trailer park.
SPX 1280 must hold or the plug will be pulled on the market. I think it holds, but we’ll see.
Buy some sort of upside hedge for a possible HUGE rally that will likely ensue within 24 hours. Risks are high, both ways.
You’ve been forewarned.
Juice:
Please. Go eat a goat’s nose.
CPI numbers come out tomorrow. After the Fed cuts rates next week they’re searching for bullets, imo. Hate to say it but the Fed’s situation seems Alamo-esque.
Boom — what WOW said is mostly correct. The only thing he left out is the reason the trade is unwinding, which is that the arb only makes sense if the currency ratio between the buck and the yen remain stable, or if the buck is increasing (that’s a two-fer for yen carry traders).
Reason being, if I borrow in less expensive yen at 1%, and invest in dollars at 4%, but have to pay back in more expensive yen later, the “spread” (formerly 3%) goes to nothing, or goes negative.
Right now it’s going considerably negative. That means fuckers have to get out of dollar denominated assets to buy yen back (increasing the problem for others still holding the trade). If you are holding dollar denominated ass-hats, which are you going to liquidate first? Stock Asshats, or Full Faith and Credit US Gummint Asshats?
Fly – Funny you mention that; just had a whole wheat bagel with goat cheese.
If you no like the jib of my time machine, trade against it & see where it gets you.
Maybe you should have listned to the fib guy, even though supports were broken, you are now getting reamed on your SMN.
Your blog is getting better and better! Previous posts were good, but this one is just FABULOUS.