Believe me, Wall Streeters are hurting today. May of my colleagues keep a large part of their life savings in the company’s stock they are loyally employed to. Look around, from [[MS]] down to [[TWPG]], it’s carnage.
This, as you know, serves a severe psychological blow to the managers of assets, those who balance risk for pension funds and retirement accounts.
So, what sector will get hit next?
I can tell you, with a high degree of certainty, the ag plays will get their comeuppance. With portfolio’s getting annihilated, across the globe, managers will sell their up stocks, in order to raise cash and take a breather.
As you already know, my largest position is [[SMN]], which gets you short [[MON]] and other basic resource plays. However, I also have short positions in a variety of single stocks, like [[MOS]] and [[POT]].
Personally, I’d like to see the whole house of cards fall. The ag story is over saturated and full of excess. Every loser with a series 7 has been piling into the sector, a key tell of a top.
Fuck all the demand from China and India. At the end of the day, the stock market is about survival. When shits gets blown up, like [[FCSX]], [[IBKR]], [[NCC]], [[MF]], [[GFIG]], [[MGT]], [[PNSN]], [[KCE]], [[CIT]] and [[LEH]], everything is for sale.
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Careful what you wish for. If this is the end of the world, not even the Fly will be able to enjoy 6 inch thick fucking steaks.
LEH – guess it’s really THAT sick
MS – seems to be the next one to go, guess people are thinking that 34:1 or whatever it is leverage ratio MIGHT not be a good thing.
Want to bet?
“The Fly” will spray paint on his neighbor’s vacated houses, once they leave.
The MOS short is sweet technically as well. Lots of resistance at $110, and we’re just about to break through the 50-sma/$100.
If that happens, next stop is $80.
Calvino sell 1 share of fslr, 1 of bidu, and 2 shld. The first two are just pigs that will no longer have the skinny legs to stand through this tape. shld – Eddie Lampert is a fucking weasel , I just short hist stock because I don’t like him – btw no one who has ever worked for the douchebag has ever had anything nice to say about him – not a good way to run retail. shld gets you short retail and eal estate all at once. I also think Jimmy the leaping magic baboon cramer is a good friend of Eddie’s so the idea of fucululating them both with the same two by four is excellent.
update.. calvino sell 3 shares of SKT – if these dividend grabbing morons keep bidding the shares in this tape.. bless their souls for giving you a short into huge outlet centers that no one will drive to because gas is $4 now. and if I am wrong on this one, blame Tuco, he is rich.
Fly, you get on LEH short?
Man, I almost shorted when it was only 15% under today…now 40%…god damn it…I need to grow some balls
I’m like a freaking curse. Former employers going down in flames.
My first company on Wall Street doesn’t even display it’s original name anymore. Now it’s employees are shamed into wearing a badge that indicates they are a bunch of uptight, funny eye-glass wearing Swiss fuckers. And believe me, the “clock-makers” are hated with a deep, embedded smoldering hate.
Now Stanley is in the cross hairs, a company I would’ve bet my life savings would never see damage like Bear or — back in the day — Kiddler and Drexel.
(Neologism Data Banks, storage entry:)
F-U-C-U-L-A-T-I-N-G.
(Entered)
__________
Grazie, Signor Calvino.
Big Mike… shorted on the drift back up to $31-ish.
Oftentimes, when you see a fucker plunge like that on the open, the best possible entry is on the weak bounce… just wait for it… (probably the place you were watching it).
BTW — It’s got another $10 in it, if you’re feeling lucky.
This week, I mean. It very well could go to zero too.
Fly has been asked nicely by the Final Four Committee to stop pressing and for good sportsmanship sake make 6 passes before putting up a shot left handed.
Drudge is calling out Cramer…..lol.
Cue the Bearded Clam….
In the lilt of Irish laughter, you can heaaaaar the angels siiiiing…
“Of note: LEH puts are seeing heavy interest today after peer JP Morgan (JPM) acquired Bear Stearns (BSC) for only $2 a share, stoking concerns on the extent of the credit market crisis, and ahead of the co’s earnings tomorrow (3/18) before the open. Approximately 270K puts have traded against 120K calls. A number of strikes are seeing interest, particularly in the months of March and April, with activity in April all the way down to the 10 puts;”
– From Briefing.
FMCN–Homo Hammer
Headsup! Don’t forget about going short or buying puts in MOO for The Fly Selloff in Ag.
isn’t it time in which all world’ medias start to say in public crack is going on that we have to start buying ..
any other bottom near fly , what suggests your crystal ball ..
May of my colleagues keep a large part of their life savings in the company’s stock they are loyally employed to.
This reeks of 2000 – 2003 with Telecom, the internet bubble implosion, Enron, 9/11… Your colleagues will survive.
The market melts down, whilst Fly investigates a new irrigation alternative for his front lawn.
Volitility index spikes… ready for the “order out of chaos” as the fed cuts and has another “ingenous” plan to “save” the economy?
We’re also seeing a little of e plurbis unim or whatever…. The federal reserve makes sure everyone can see as a reminder with every dollar they spend… From many (banks) comes ONE (the central bank)
That’s why they don’t mind pumping out a ton of money to them in order to “save” them… They’ll just end up hiking the interest rates, making them all go bankrupt, and buying them all out for pennies on the dollar, and picking up their mortgages with them.
I feel ill… loomed… and naughty
Big Mike — didja hit LEH at $26?
What we need right now is that pic of Lizard-illo asking “Anyone wanna buy an ARM loan, cheap?”
Here we go folks… Ben’s Apache gunship is in the air. Rat tat tat tat!
MVIS with a 1 handle
Who the hell cares about MVIS.. that is lifetimes ago. Fly is coining money like the MINT these days, stop bringing up old stories.
Hey ABC. Shut the fuck up you community college mullet wearer.
I am merely commenting on a stock that played a large part in this community during recent months.
Please, go find JJ. He has parradium for your GME.
erin really enjoys rubbing cramers face in it.
Ladies and Gentlemen,
I have examined the pale bloated body of the patient.. one “Mr. Market”.
The spastic gyrations, opened-mouth stare, and complete lack of basic motor skill can only mean one thing.
Brain death.
I recommend removing the feeding tube and letting nature take its course.
Seriously, stop hitting it with the defibrilators, the spasms are frightening the family and giving them false hope.
Interactive Brokers plunging? WTF!!!
I trade on their platform and they just e-mailed me this…
http://www.interactivebrokers.com/download/IB08-102.pdf
Are they safe or destined for ruin? Can you believe what any broker says these days?
Wood and Fly: Looks like my flattish prediction last night is coming true. Should the FED cut 125 tomorrow we could even see a huge rally, which I will properly sell.
Nice job, Gapping!
Why don’t they just call it the Plunge Protection Team (PPT)?
The President’s Working Group on Financial Markets sounds like a bunch of Hookers. On second thought, same concept.
MVIS is a sham. If they were a credible company, Tokman, Wilson, et al would be buying hand over fist below 2.00
Who the hell is JJ?
BOOMer is a wee bit emotional no? Didn’t someone on here say emotional people lose money?
I am smooth, rational, calm, cool and collected. Boo ya!
P.S. Erin Burrnet is white hot.. hotter than a super nova. She has the looks, the brains, she went to Williams, played field hockey, and was even a banker at Goldman. Wowser.
The only bad thing about her is she keeps trying to call a bottom on Citigroup. Not good Erin, not good.
stop loss, I read your IB pdf. Really ironic no?
S&P going to 1321 by end of day Tuesday (that’s up 3% from the open today). Mark my words boys, mark my words.
May I suggest a little currency hedge for tomorrows Helicpoter rocket barrage.
Uncle Ben has nasty Hellfire missiles for the shorties tomorrow reigning down fire and death from his Apache gunship helicopter. It’s going to be like putting a match to dead dry timber wood in the middle of summer.
Hey ABC. If we get a 3% drop instead will you promise to go away and not post here anymore?
Bullish data point?
http://www.bloomberg.com/apps/news?pid=20601087&sid=aBivITiDHG9g&refer=home
Lots of long tails tdoay. CME FCSX GFIG FMCN among a myriad of others.
That smacks of capitulation.
Bruce,
The VIX will show you the way. You think “Capitulation” occurs in the 30’s?
This is helicopter magic fairy dust. Watch it disappear with the morning dew.
Brucey, re: your Cohen post… I bet Slope of Dopes is going batshit.
Jake, I think we have a period of relief that may last several months and the ultimate VIX spike, 40+ at least, may have to wait till after the Orympics.
But who the fuck knows.
Expect heli-ben to drop more than 100 points, market shoots up 1 day, then its back to the bears rest of the week. Good luck, all.
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