The silence from the CNBC hatfuckers is deafening. No more Charlie rumors or Cramer bottom calls, just plain ol’ vanilla murder.
As you know, “The Fly” was early to short the “ag plays.” Quite frankly, I spit on “global growth” and demand from China and India. Anyway, as a result of my time machine investing style, I was up 8.1% today.
That’s right. In one day, I just murdered your entire YTD returns. With today’s gain, I’m pushing on 40%. Keep in mind, we are talking a lot of money here, not your bullshit 5 figure e-trade account.
All day, rumors were rampant, regarding [[MER]] fuckery. There is massive put buying taking place and the stock is out of control down.
With my money, I want to lean on weak banks/asset managers here. My short list includes: [[FED]], [[DSL]], [[CLMS]], [[MER]], [[WM]] and [[LEH]].
I’ll have you know, LEH trades to the 20’s, short term.
Finally, with clearing firms demanding less leverage at hedge funds, get short the ag and oil sector. All of those hedge fund idiots have been long [[POT]], [[MOS]], [[CF]], [[MON]], [[DE]], [[AG]], [[BG]], [[XOM]], [[SLB]], [[COP]], just to name a few. They have “ag plays” coming out of their ears.
The sell off in commodity related stocks has just begun. To hedge my short bets, I’m long [[DGP]].
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I sold 2/3 of my SLV over the last five days. I miss it, and will buy it back soon.
I’m keeping my gold, hatfuckers.
rampant
thanks
Can you clarify the clearing firms thing? They want more collateral for the leverage they provide? And so the hedgies are being forced to sell winning positions? Is that what you’re saying?
-DT
Bulls got sucker punched today with 3 lb brass knuckles.
Nice hedge with DGP, as gold could possibly de-couple from the rest of the commods.
What were you drinking last night that caused your 8% meltup today?
What is the normal leverage allowed, if there is such a thing as normal.
DT:
Yes. They are demanding a higher level of equity. As a result, stocks need to get sold. With them knifing lower, it just makes matters worse.
Hence, selling begets selling.
Thanks. Does this also partly explain the losses in Gold and Oil?
-DT
Fly, is this DGP, double long gold?
Hope so
I always drink Bordeaux.
Fuck California grapes.
200% upside gold
Normal leverage is 74:1. Just ask mgt at JPM. I approve, btw.
Yes.
The hedgies have been long oil, gold, silver, dry commodities and short dollars.
That’s right. In one day, I just murdered your entire YTD returns. With today’s gain, I’m pushing on 40%…
Thank jebus for the IRS, eh Fly?
Agreed. I’m glad I was on tilt yesterday and doubled up my put positions on OIH stocks and Ag plays at yesterday’s close. More specifically, APC & AGU. Good comment on the clearing houses.
Can’t You See
You are a true wine connasewer [sic].
wow, who posted that 10 minute SPX chart yesterday? That thing was right on the money. Great call with the Ags Fly.
I’m digging DUG
Mad, sick, off the chain gains, Fly. Congrats. Rock.
Funny thing. I was telling someone yesterday the rally was just orchestrated for the benefit of “V” and related ibanks, and to get “crazy mad short”. They didn’t believe me, going long POT and other “bullish plays” because that’s what “the pros are buying”.
I have their money now, transferred directly to my bullshit 6-figure ToS account.
Congratulations, Fly. Now don’t get “cocky” and give that shit back next month.
What’s funny (not funny “haha”, but funny as in ironic) is that I talked to a pretty smart guy on Monday who was so bearish on equities he didn’t have a single long. 25% long inverse ETFS and the remainder split between DBA, GLD, FXY, EWZ, and FXE. I said, “dude, you may think you’re diversified, but your longs are basically just one gigantic weak dollar bet. All the dollar has to do is stabilize and you get your balls chopped off”.
He said he wasn’t worried because the FED was certain to make a massive rate cut on Tuesday which would send the dollar lower.
Now he’s a smart guy with no balls.
Nice job, Fly. I couldn’t tell if I smelled desperation or wisdom in your rantings, yesterday. Let us know when you hit 50%, tomorrow or next week.
For the commodity bubble and those in Fly’s Bordeaux:
http://www.youtube.com/watch?v=QPAKV_qoHmU&feature=related
Thanks for CLaMS by the way.
Cherrystone delight.
_______________
Bordeaux is for poseurs and amateurs, though, I’m afraid.
Flecks contact in the mortgage/CDO/SIV/Alt-A/financial derivative/etc universe is called ‘Lord of the Dark Matter’ – fm today Rap, and Mr LotDM has been way out front of the problems there:
“for all the special liquidity features trotted out by the Fed, the Lord of the Dark Matter says the situation in the dark-matter universe has never been worse.”
which means financials are still ‘fucked’ – so I suppose that means you can take SKF to the bank
Untrue. The city of Bordeaux is the only city worthwhile of producing wine.
Fly,
Wry.
Doesn’t buying puts or shorting uym make more sense than going long smn or calls for smn?
If uym makes money of leveraging and they have costs for leveraging and margin calls, wouldn’t they get screwed more to the downside than SMN would go up to the upside?
La vraie raison la mouche aime le Bordeaux —
un grand pistolet de laser de baise !
Baisez les Français!
.
Let’s rope together some of today’s themes, shall we?
Let’s see… Fly… Vendetta…Ag products.. and … CLaMS!
Question not thy CLaMS, nor they jerk-ed beef!
I have a sexual fantasy about buying a bottle of Bordeaux…
I’m in the wine shop and I’m confused. This hot little number (a solid 4 diamond type of gal) comes over and asks if I need any help.
I stammer, “I’m looking for some Bordeaux.”
With a dirty twinkle in her eye she says, “What was that? You’re looking for hot unprotected sex?”
And I say, “Yeah.”
Then we have sex right there, in the “French” aisle.
-ES
Hey Fly,
When do you think is a good price to slap some shorts on LEH. The selling volume on this bitch was a little light plus it held above its 5 DMA if that means anything.
Eilliot, what happened to the Cleveland Steamers?
I know, I know… slow economy, can’t afford the extra $500.
It’s rough man. I hear yah. Everybody’s closing their wallets.
My local “discount tittery” stopped offering “2-for-1” Wednesday specials, so no more hot 3-ways for me. Gotta save money to buy the wife some flowers and shit.
PS: When I say “flowers and shit” I meant “flowers and other similar items”. I’m not actually giving her feces.
Didn’t mean to get you excited there.
what about playing DBA or UYM and DZZ? Horrible idea, or doesn’t really matter?
V could be the worst symbol of all time.
V is for Vagina.
Fly please put some of my dollars to work..start the Brooklyn Fund…fuck Templeton!
Fly, thanks for the “hairy taco” a.k.a CLMS.
-hustle
Cramer now advocating “buy the dips and sell the rips” strategy ….
Guess that play is now over, eh?
We all miss Elliot down at the “sugar shack”.
I wonder if Ben Bernanke is working on similar deals for the next broker that goes “all BSC.”
http://images.usatoday.com/life/_photos/2006/06/13/carlin.jpg
Commodities still getting hit in AH. Broker now that MON is broke, do you think the shit could get hit another 20%?
“Bank of England officials have cancelled trips outside London. HBOS PLC stock is down 15%, could this be another run? Gordian Knot is in danger of losing it’s AAA rating from S&P. It was founded by Stephen Partridge Hicks and Nicholas Sossidas – a pair that invented SIVs in the 80’s.â€
On comes the Fed to monetize all that is broken.. Soccer Moms and Adami Cronies got shook out in Gold today.
if people were playing with chips at a casino that they bought with cash, and then an hour into playing, the casino said, we don’t allow cashouts, but you can take home the chips, and we’ll loan you chips, but you have to pay back more than you started with (and collectively more chips than is available in existance)… how long do you think it would take for people to stop playing at this casino, or at least start demanding a lot more chips
The system works for now, but we better develop a backup plan.
Fly any leveraged way to play silver?
No leveraged play on silver that I am aware of and SLV ETF is the only straight out silver play.
Those gold stocks yesterday AM have telegraphed this decline. Watch to see if the gold stocks stabilize or start to go up while the physical or futures go down. This will be a sign of another reversal. The GDX ETF (gold stock ETF) is a good one to follow.
I see gold futures are down another $25.00 as of now.
TC,
do you have any experience with futures? I want to play the upside in silver 2 to 3 years out.
thanks
kd- Sorry. Never traded futures.
Friend of mine is a Chief in the fire dept of a major western city (not a RE bubble city). City council just told him they need to slash all city budgets 7 – 12% due to unexpected and serious sales tax shortfalls.
Consumer led recession anyone?
Seems kind of odd that Spitzer got put out so quickly. May be some truth to this?
http://www.gregpalast.com/elliot-spitzer-gets-nailed/