What a day. People from all market biases were poleaxed today, as everyone scrambled around looking for the next play. However, at the end of the day, they were reduced to scrambled eggs, then eaten by hungry misfits, who possess large pools of money.
It appears [[LEH]] is going to repeat BSC. I mean, it’s sort of uncanny how recent history is repeating itself.
With that being said, I sold short some [[PACW]] here. As you know, it is part of “The Fly’s Reverse Five Horsemen.” Without a doubt, that fucker is heading for single digits, like [[PZN]].
On the day, I gave back some gains, thanks to the dastardly action in [[SMN]] and [[FXP]]. I really can’t win with those God forsaken etf’s. Also, I lost a small bundle in [[JEC]].
Finally, with oil exploding to the upside today, you have to get long some rig makers, like [[NOV]], [[RIG]] or [[DO]]. Additionally, I like [[HP]], [[ARD]] and [[PCZ]].
Stay tuned for some more bullshit market action tomorrow.
UPDATE: AMKR shit the shower, via big warning. Amkor is the second largest in the packaging and testing of semiconductors space. A key tell, if I may be so bold.
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technicals were great for oil today. i stopped the fuck out of my DUG right off the open. SKF and SRS all the way going forward.
someone find me some british double short ETF’s
Where’s the bullshit? 150 point rally in last 60 min of trading. We are putting a bottom in. This is how it works.
“fuck you, you’re dead: we’re lower.
NOT TODAY
kid it does not cost anything to be nice. try it, you will feel better.
leh -12%
fnm -13%
fre -22%
crude up big
gold up big
dollar down
and yet stocks up— good day for the bulls
boomer you will be right.
will not post monkey or anything else again.
I miss the monkey already.
Eventually, all of you asshole bottom callers will be right. However, “The Fly” keeps track of how many times you are wrong. In addition, I know where you live and how many time you visit Starbucks.
Summer Redstone, SHUT THE FUCK UP!! Or I will kill you now.
Been busy all day. What is this monkey you guys keep talking about?
Chivas,
One more time…
For the old times.
mmmm Starbucks. Thx for reminding me.
The bulls will defend themselves.
Donny, all of these guys responding to my IM are smarter than you. I’ve taken all their names out of course.
Me aka Crude Broker (7/10/2008 1:37:38 PM): Busy on the close. Domestic grades still tight LLS 420+, MARS -550, WTS -255, Eugene Island 40+, you guys still bullsih flat price?
Sempra (7/10/2008 1:40:10 PM): Looks that way, people here are buying, too many headlines. It is kind of hard to ignore it just as noise. Ride it.
Saracen Energy (7/10/2008 1:51:28 PM): yep
Vitol (7/10/2008 1:37:59 PM): we didn’t chase it on the close but we’re a bid.
Mercuria (7/10/2008 1:43:55 PM): yes, probably see more of this action tomorrow
Conoco (7/10/2008 1:40:21 PM): otp, yes sir
Trafigura (7/10/2008 1:39:58 PM): yeah M2M give me a sec
Nexen (7/10/2008 1:40:55 PM): Yes, our desk was lifting it all day today, to $175
Citgo (7/10/2008 1:40:18 PM): paper guys still are, call in a min.
Cargill (7/10/2008 1:40:50 PM): yes
Gavilon llc (7/10/2008 1:47:11 PM): yes sir
I am the Fail Bear
WYNN annonces a five hundred million dollar share buy back, on top of the 1.2 billion already announced. Mayge they were just kidding yesterday about doing an IPO in HOng Kong for 3 bil. They must not need the money after all. Fast learneres these boys, jest lak them ubs and mer and leh and citi boyz. Just doing an offering to prove that they can . IMaybe they hired that Callan chic after she got promoted from the Brothers to a retirement. I say that is a great omen for the company.
You just felt that squeeze coming huh? Un fucking believable.
These dudes have balls like pickle jars, and they think our brains must be the pickles inside.
Proof of Doc Fly’s Time Machine…..
“I would like to sell short hotel stocks, like (WYNN: 69.94 -9.82%), (LVS: 34.01 -10.81%) and (MGM: 23.14 -21.77%). However, they are down too far. I do not want to be on the receiving end of some sort of homo short squeeze.”
Now go check out LVS/WYNN.
Brilliant!
Funny that The Fly mentions PZN. Their approach is very anti-Fly: “normalized” earnings, 15 year cash flows, deep value. That approach will get you into the financials and insurers for the long road to single digits. Yikes.
As for the bottom, hard to see it with FNM, FRE, and LEH knifing to earth. Of course, those 80% drops could end here, but that seems sorta unlikely.
crude-
Fucking a right…one of the best internet leech, message board bullshit, replies I’ve ever sceen. Just fucking great…
Cajun,
Okay, since Chivas won’t post it:
http://www.rallymonkey.com/video/kenindex.swf
…
How about CLR for an oil play? Up big today though. What about other North Dakota oil plays?
“they were reduced to scrambled eggs, then eaten by hungry misfits, who possess large pools of money”
Fly, where do you get this material? Great stuff!! lol
great post above, crude.
i typically like to think about how much of a joke china has become. i was reminded of this by the fast money show a few min ago:
http://www.bloomberg.com/apps/news?pid=20601089&sid=aroBl19YuasM&refer=china
i can see the headlines now:
‘US rower killed by algae monster; russian gymnast carried away by locusts.’
i can’t wait.
One of the first thing they teach you in Warrior School:
“Know thy enemy.”
_
HRB finally took a break.
Bottom Callers
Wrap It Up
Q4 —
That’s a good one… gracias.
_
Ha.
I may have to use that in one of my videos.
Crude … up until today, this week must have really pissed you off.
Commodities are the last basket of hope for the permbulls. So much, that Jim Cramer is now pimping them to his army of permaidiots. These sectors will be skull fucked soon.
Three Oil co’s, Exxon, Ceveron & Conoco represent more than 7% of the S&P 500. When they rollover, the entire fuckin’ market will go with them. What a bloody mess that will be … not if, but when.
I hate HRB. May it die a painful death under a pile of tax returns.
Classic Mish today:
“Paulson’s statement “Institutions Must Be Allowed To Fail” is in reality an implicit admission the Fed is powerless to stop a credit implosion whether the Fed wants to do something about it or not. We have finally reached the point at which the mess is too big to bail. All that remains at this point is the final numbers on how much taxpayers have to cough up when Congress foolishly tries to make water run uphill.
”
My smart ass summary of the above would be:
“The FED needs stronger viagra”
MM -OUT!
Neah, I’m not pissed off. If you get pissed off with a 7% pullback in two days with something that has had a 100% run in a year, you need a new profession. I told you I was content with my positions unless something changed fundamentally or technically.
My wife is going to be pissed after seeing this. If Cramer is pushing wines, her little stash is going to have zero ($0) value in the near future. I guess we have to drink all of it tonight while the value is still high.
http://tv.winelibrary.com/2008/07/10/investing-in-wine-with-jim-cramer-of-mad-money-and-your-host-gary-vaynerchuk-episode-499/
What a turd. I watched the first 5 minutes, I can’t go anymore, it’s torture. Did he get drunk? Someone give me the cliff notes.
Can you imagine sitting next to those two at a nice fucking steak house?
That’s fucking awesome. I’m selling a wine related company right now. Thanks for all the bread and circuses, Chromedome Retahd.
_
I hate HRB. May it die a painful death under a pile of tax returns.
From your mouth to God’s ears, my Gorilla Lax friend.
_
AMKR – ROFL – they blamed there ERP system implementation! Not a tell of anything in the market, though since I’m short the market, I wish it was.
Chivas – WTF?
Don’t leave me hangin’
Boomer, that was great. Chainsaw Maid! Hells yeah!