I am sitting here, like a true gentleman, losing vast sums of appreciating U.S. dollars, with great poise and grace. I am not panicking or throwing stuff at people down the hall. No, “The Fly” is all about honour [sic] and reason, when it pertains to dealing with setbacks.
Quite frankly, this is the best recession ever. Just today, we have the dollar gaining big time versus the yen, gold crashing through the floor boards and oil shitting the attic. On top of that, [[GOOG]], [[CAT]] and [[HON]] posted kick ass numbers, giving confidence to those who have been loyal to the bull case.
At the same time, [[C]] posted God awful numbers, but its stock is still up huge.
What a shocker.
The commodity bubble is being deflated, which in effect, can fuel a rally in U.S. equities for the next several centuries.
In all seriousness, there is no way I am shorting up here, in the face of a break out in the indices. I’d rather go play with a pinball machine, for the next 10 hours, than try to time a new top in the banks, like some sort of degenerate OTB guy. If that’s the case, I might as well come to work in a wife beater T-shit, cigar in mouth, and drink beer out of an aluminum can, with “impunity.”
In closing, I would like to let my new bear friends know that I hate you and wish a slow painful death for you and all of your pets. Moreover, I believe you are all stupid assholes, who somehow tricked me into disbelieving in Goldilocks (U.S. economy). If I ever find out where you people live or eat, I will dispatch my entire goon squad of Brooklyn jerk-offs to punch the ears off your stupid heads.
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This smacks of the last bull in Rome….
“I’m not selling into hell.” The Fly said, sometime in the past.
Good advice, imo.
you always manage to impress me. everyday is a new day and the casino is always open.
Wood, didn’t you do a back-testing correlation analysis and find that the “Fly Despair Signal” was an even better indicator than RS 2?
This is “last call for alcohol” for all of you who thought you missed the shiny metal lift off.
SLW, GG, SLV, GLD, RGLD.
You’ll thanks (sic) me later.
Fly,
Today is option expiration day. What do you expect?
Also, be mindful that the overall market perception is a “shallow” recession and stocks usually recover within the “halfway” mark, assuming this recession lasts 8 months like prior. This is why I believe, the market shrugs it off any bad news, Aka: looking over the hill.
Furthermore, with negative real rates on short-term treasuries, the Fed is forcing people to invest elsewhere. Haven’t you seen the 2yr T-bill, sell off?
However, credit default swaps/Libor are still very high.
Look, I am still sticking with my conviction; Imports are damn near crashing, and the world market will get hit sooner than later.
I’m going to go golf… I’ll be the guy that will kill you with your damn gun.
Recession has been outlawed.
Consumers are free to get drunk and buy houses while eating government cheese.
Gov’t will lift FNM/FRE caps to $1.5 mil.
fry skf under 105
The Fly despair signal is unmatched for its accuracy. Even the iBC machine cannot hold a candle to a dejected Fly.
You see, Fly’s psyche is a microcozm [sic] for the financial markets, except in the inverse.
Jake – Haven’t you heard?
The government will be giving out free gold with every new house purchase…
along with a nice wedge of cheddar.
imo, intermediate term top for crude, and gold and bottom for dollar.
Yes. For now on, I will call myself “The Fry.”
They’re pricing in the demise of Hillary. This price action means she goes down in PA next week and will publicly cry, again, in a last ditch effort at getting the sympathy vote.
VIX back under 20.
Who says the PPT does not exist?
Cold beer in a can is much better Fly. Never sees sunlight.
Noooo… not The Fry…much better to throw a can of Monster Soda at someone.
Chivas,
I won’t second guess you on these shaky legs, but what you are intimating is deflation, rather than inflation.
So long term… you are a bear?
The GLD chart is looking pretty bearish people.
jake, we bought more SLV today. Good price.
Jake,
yes, but after a lot higher prices and a top maybe third quater.
Market, feel free to go down now The FLY has capitulated. And just to reiterate f the the bulls and the bears they are both evil.
All consumer debt has been purchased by the gov’t, and will be forgiven.
Gov’t will provide 0% financing for any new car.
Initiated a position in SRS this morning. What a gift.
This will go down in history as Fry’s “The Last Bear in Bearshitterville” speech.
if the market is forward thinking…then why was the DJIA at 14,000 in October???
Property taxes have been eliminated.
The US tax code is now only a suggested guideline and tax payments are entirely voluntary.
Buy some QQQQ puts yall!
Fabregas and SRS, hmmm…
someone is practicly imitating me
Fly,
It has been a long time. I wanted to post on your new site for some time, but I am just a caveman blogger and your new modern site frightens me. Enjoy the ribeyes tonight, even if you have to get the choice from Costco More importantly, a three run comeback in the bottom of the sixth last night in an epic Little League battle.
The answer to the question, that may be on some of your IBC junkie’s so called minds, is yes and a lot of it.
Be careful dropping flaming bags of shit at your neighbor’s door this weekend. I saw him at the pit bull store yesterday buying a mean looking fucker with and a chew toy that said “eat fly”.
Talk to you soon.
Bruce —
I was thinking the same thing. I was wondering if the market was pricing in the Obama candidacy (and therefore, “McGovern II, Electric Bugaloo”), and the possible relaxation of the threat to capital gains, as well.
BTW — did you see his answer the other night w. regard to the capital gains questions?
Very telling. Very non-Ron P.
Fly, GOOG went parabolic, time to short?
Paradigm Shift —
And the new President of the US will beeeeee…..
Robert Mugabe!
(Thenkyouverramuch, and good night, ladies and germs!)
Oil will be $30/barrel.
Gas will be $1/gal
and DUG will still trade lower.
It’s hard to see deflation when you can bring turd on a stick to the Geithner and he will give you full faith and credit. Shitty beat numbers because they recaptured the writedowns on their assets. Wundebar.
Chivas is scary in that we think alike. I’m even a scotch drinker (The MacCallan), just not Chivas.
i saw it jake … they both sucked .. Obama looked worn out .. he needs to get some sleep
McCain is coming off better than they
Once Hillary is gone, it will get interesting .. I think both Obama & McCain are gentlemen & it would be nice to see a no dirty tricks/negative campaigning battle, for a change
back to a bull market … these fuckers on CNBC are saying to buy everything
I chew cigars. All the time. Rich man cigars.
Actually, Obama and McCain worked to eliminate PAC campaign contributions together. That relationship did not end well , with McCain hurling some strong epithets at Obama.
Just when you think a depleting commodity with increasing demand is coming off… Bam, smack in your face it goes positive hitting another all time high.
Option expiration is like soaking the furniture at the local lunatic asylum with gasoline and distributing matches to the inmates along with clear pictorial instructions for their operation. The fire department will be arriving next week to restore order.
Speaking of water, nice move in LNN today.
Pud,
lol. i love MacCallan also.
Sy Harding says the big program traders sold last week to drive the market down so options would become a buy – this week, they buy stocks in order to drive the options up for a profit. Makes sense, no?
GS says cover dollar, no more rate cuts in near future. unconfirmed
BTW – just got back from my favorite local bakery, where they have increased the price of a loaf of bread, across the board, 30%. Fuck you very much.
Almost choked on my cigar when I saw $11.95 on a loaf of cranberry walnut bread.
Fly,
Excellent idea!!! I am searching the ebay pages for pinball machines. Excellent idea for my sole-proprietor environmental-cum-trading office. Problem is, there is a vast selection to choose from. Price is no option – I’m hooked. But I do not want to make a bone head selection that I will be sorry for six weeks later. The Lethal Weapon 3 machine looks great, but Grand Slam Pinball really has my eye. Any advice for a crazy fuck impulse buyer?
Went to a nice bourbon tasting last night and sampled quite a few “single barrels,” that were very nice. Pappy 15, Woodford Reserve Special Select, Buffalo Trace Single Barrel (much better than the regular stuff), etc., etc.
Of course I secreted a number of bottles out for “molotav preparation,” as well.
They are under my desk now…
There were at least two hundred signals that the market was strengthening over the past few weeks (fewer stocks making new lows… more new 52-week highs…. chart indexes…)
You got to trade what you see, not what you think.
Global economy is fantastic. U.S. will in fact turn into a pile of shit but that doesn’t mean CAT won’t be selling earthmovers in China where they’ll dig for more metal to put in cellphones they’ll sell to themselves. And those tiny cars in India.
The world is growing while we rot in debt. You can short America but you can’t short the world and win.
This is simply a pope rally. Nothing to see here.
-DT
Sir Douche, you have “cleansed” my way of thinking. Thanks.
All turds float on a day like today douchebag, when the bearded clam is priming the shit dollar pump. COF is up and they reported a bad bad quarter.
update.. this is a fuck the putholders rally.. nature loves symmetry, amzn and msft will report badly next week.
I’d go with the Flash Gordon pinball machine, if available.
The Pope will replace Ben Bernanke as Fed Chief.
Douchebag — you think China and India (not to mention Europe) are going to roll right past America, in their cars stuffed with dynamite, as it goes “supernova?”
If the global economy is linked one way, it’s linked the other as well — this is not a one way street out, here.
Cow Poke Pinball Machine
jake-
my thoughts exactly.
i had a long rambling post to that affect, but got so disgusted while writing it that i erased it and went and did something to get my mind off the market.
Forgot about LNN. A stock Fly recommended as a buy in the 30s. Should have held 🙁
FLY,
Welcome back to the BULL SIDE…we won’t hold it against you that played in the cave with a few bears.
Long and strong!