I just emailed my local congressman, requesting “free bread, cheese and butter,” for the duration of the Paulson administration. As you know, President Paulson is a man for the people, sponsored by a few (formerly) rich investment banks.
With Lehman Brothers Holdings Inc. [[LEH]] on the precipice of death, life seems back to normal. Banks are tumbling. Cramer is riddled and “The Fly” is almost back to full strength.
All day, I cursed myself for being long oils. Do you know how many times I tried my hand, long [[DUG]] and [[SMN]] , only to give up like a retarded ape? This is all very unsettling.
Nonetheless, my gains in my shorts have far outstripped my losses, enabling me to gloat in your stupid face. As for questions that pertain to Apple Inc. [[AAPL]] , and why it is a good short now, and not at $180: all perspective.
Let me clarify. At no point did AAPL belong at $180, but the perception was that it couldn’t be stopped. It was bucking trends and holding up in bad tapes—just like Potash Corp./Saskatchewan (USA) [[POT]] was during the first chapter of the banking collapse. However, now that AAPL is vulnerable to sellers again, it is a prime candidate to short sell—since the loyal longs will have no interest in defending it.
That’s my take and it’s the correct one.
In closing, I continue to nibble at [[DIG]] , [[IEO]] and Freeport-McMoRan Copper & Gold Inc. [[FCX]] , with every 1 point downtick. And, I love the prospects of Bill Miller, from Legg Mason, Inc. [[LM]] , soiling himself over the LEH action today—making LM my number 1 pick of all time.
NOTE: My largest position is [[SKF]]
[youtube:http://www.youtube.com/watch?v=khP49ykg96E 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
LOLLLLLLLLLLLL…
That frontpage pic has me cracking….
As in DIG yourself a grave?
Even a blind squirrel finds an acorn once and a while…..
Love the picture of Comrade Paulson.
Get ready to throw some stuff at your TV screen, Greenspan is going to be on CNBC at 4 pm. He’ll probably say none of this was my fault, and Maria B will kiss his rear end.
Comrades, stocks are for capitalists only.
Anybody thinking about throwing a hail mary pass and going long LEH Leaps ($10 Jan. 2010)? If it goes bust, great! If it doesn’t, it could be a good gain.
Though about doing a straddle but way too expensive…
most of these banks are worth no more than 2/3 of their current share prices. and, frankly, that’s being generous.
Don’t do it Big Mike. Go buy a lottery ticket instead.
Hey Fuckers … forget everything I said about crude in the past.
Boone has spoken, and Donny just bought 2k long DIG @ 62.81.
LEH is going down. It’s a catch 22. They can’t refrain from selling their AM biz without going under and they can’t sell the entire thing without going under. Even if they sell a piece, Lehman is tooooo exposed in my opinion. Watch for Death – he just finished a cameo on Family Guy and is now headed over to Lehman HQ.
Comrade Fly, great picture of Comrade “Pinky” Paulson.
Is short LM really your number one pick of all time?
Congratulate Jeremy. He is the IT guru.
LM is my favorite short ever.
WASHINGTON, Sept. 9 /PRNewswire-USNewswire/ — States have put the brakes on
millions of dollars of highway construction projects and are scrambling to
substitute scarce state funds for the federal funds that have been cut off due
to the crisis in the Highway Trust Fund.
John Horsley AASHTO Executive Director said, “States are suspending new
contract awards, halting right-of-way acquisition and looking for ways to stop
on-going construction while maintaining public safety.” Horsley added, “It is
truly a crisis that Congress must resolve immediately because the federal IOUs
are piling up and the states’ financial hole gets deeper everyday.”
U.S. Secretary of Transportation Mary Peters announced on Friday that the
federal government would slow down reimbursements to the states, and would
likely be able to make only partial payments beginning next week, due to
insufficient funds in the Highway Trust Fund. She has urged Congress to enact
by the end of the week, an $8 billion transfer from the General Fund to
preserve the solvency of the Highway Trust Fund. Action is pending in the
Senate.
More than a dozen states including Alabama, California, Colorado, Kansas,
Michigan, Missouri, New Hampshire, Oklahoma, Pennsylvania, Texas and
Washington have detailed the impacts of the federal shortfall on state
programs, either in news releases or via media reports. Information about
those impacts is available on the AASHTO web site: http://www.transportation.org.
HAHAHAHA! I love it! Been busy today, but always have time for a good laugh.
DA!DA!
For those Jon’s watching Alan “FuckFace” Greenspan on CNBC, he sure seems to make a lot more sense as a FORMER Fed Chairman.
Regarding FNM & FRE:
“You can’t have a system were you privatize profits, then socialize losses”
No shit Sherlock.
Holy shit, I demand that you wire Jeremy a raise immediately.
That is the funniest front page… ever.
____
Pay Attention:
Fly wins again.
Eggs act lee, Donny.
Where was the bespectacled toad when Fannie and Freddie were tossing Barney Frank’s salad back in 2002-03.
Oh yeah, he was pumping up the real estate bubble.
___
Pay attention: It may be time to short VMC for real this time Captain.
PS — I’ve made so much money on Alpha Dawg’s old girlfriend “Randee MOS,” that I think I’ll put a bid in for the Giants tomorrow.
You know the Maras were long all this shit!
__
Comrade Fly,
Still, you keep the EEV under a satchel of bushels, nyet?
I say, “No hassle, buy a passel!”
___
Question-
What is the worst one day loss some of you guys have taken? I lost 4.5% today which is BY FAR the worst day of my trading life. I am still up 14% for the year, but I am sick over it. DIG just flat out kicked me in the balls. I kept averaging down and pretty soon had a much bigger position then was prudent. Still heavily exposed. Time to go bite the rest of my finger nails off in anticipation for what tomorrow holds.
Finally, I feel so at home.
Now, where’s that bottle of Stoli….?
comrade fly, u vill be loyal to zee party or off to zee re-education center for processing.
“I’ve made so much money on Alpha Dawg’s old girlfriend “Randee MOS,” that I think I’ll put a bid in for the Giants tomorrow.”
Jake, she wasn’t my girlfriend. Just some bitch that I rode from time to time, then dumped. I rode her again Friday through Monday morning. She keeps coming back for more. Insatiable little tart!
Btw, the proceeds from your forays into MOS on the short side might be able to buy you a seat next to the blue-painted fat guy on the 50. Enjoy.
On my worst day I lost about 40%. As I recall it was today.
Don’t worry comrades. Soon you will never have to worry about stock market losses ever again. All profits and losses will be equally distributed throughout Mother America. If you make profit, we will distribute it to all your fellow citizens. If you make loss, it will also be distributed to all your fellow citizens. This is the new way of our glorious nation, Mother America.
Dawg,
No need to tell me about those fucking seat licenses, I got the bill this summer. Fuckers.
Did you hear that in the first game, they introduced one of the Tisch brothers at the half to lead some Superbowl commemorative bullshit they were doing, and the guy couldn’t get one word out because he was booed so violently.
Chickenshit scurried off the stage to many a catcall and “fuggyoo!”
Small justice is some justice, I guess.
____
Sounds like Comrade-Candidate Barack is wearing his Vladimir Bush mask today.
Comrade-Candidate, have you settled on a final tax policy yet? Word is, this weekend when speaking to Pravda TeeVee, you admitted that raising taxes (even on the capitalist pigs) during a recession is actually a bad thing.
Such evolution, Comrade Candidate!
Be careful, or soon you will need a trip to the Pelosi Gulag for “re-learning…
And a facial.
________
Jake, I have yet to pay for Giants tickets. You just have to know the right people.
Missed the booing of the Tisch guy. Tough crowd. Poor bastard owns a SuperBowl champion and the fans boo him? But, that’s NY, I guess.
Fly – have you thought about changing the color scheme of the site to hammer and sickle red?
http://www.eatlard.com/imgs/communism.jpg
http://politicalpartypoop.com/wp-content/uploads/2008/03/motivaional_communism.jpg
The Fox, hang in there. You’ll get it all back and then some. Easily. After all, God (The Fly) is on your side.
The Zombie has had some rough days this CY as well. I had a $20K loss day back in July. Hang in there, The Fox.
The Fly is God
they’re still bidding up the SKF in the a/h.
i’m giddy.
Forget Steve Jobs health-rumors… it’s Don Harold who is looking a little gaunt and unhealthy lately. Unfortunately, if Don Harrold gets pneumonia, the market doesn’t move – but Jim Cramer can finally get a good night’s rest.
Did anyone catch Jeff Mackey drop the comrade line on Fast Money?
Jeremy “Picohp” is one of those cool geeks that gets all the hotties.
Wonder if it snowed up there where he is located, it froze here last night.
Ron Paul jumps the shark.
http://politicalticker.blogs.cnn.com/2008/09/09/ron-paul-to-announce-presidential-endorsement-plans/
Paul, who unsuccessfully sought the Republican presidential nomination, will tell supporters he is not endorsing GOP nominee John McCain or Democratic nominee Barack Obama, and will instead give his seal of approval to four candidates: Green Party nominee Cynthia McKinney, Libertarian Party nominee Bob Barr, independent candidate Ralph Nader, and Constitution Party candidate Chuck Baldwin, according to a senior Paul aide.
…Paul will offer this open endorsement to the four candidates because each has signed onto a policy statement that calls for “balancing budgets, bring troops home, personal liberties and investigating the Federal Reserve,” the Paul aide said.
The notion that, for example, he can endorse both the Green Party and the Constitution Party, because both have platforms opposed to deficit spending illustrates why his candidacy never gained any traction.
We’ve got an annual deficit of around $600 billion for the general fund. How you close that gap truly does matter to people.
Not to get all political an’ shit, but……….
This commercial was done by a kid. You have to watch the whole thing. When he finishes talking and walks away, you get a sense of how this could be the commercial of the campaign season.
http://www.youtube.com/watch?v=TG4fe9GlWS8
Not to get all political, but with that ending, the kid gets my respect, thanks and attention, no matter what his point. Thanks, Alpha.
It’s all downhill from here.
Here I Am
wow. don luskin is the dumbest guy i’ve ever had the misfortune of listening to.
Aris – Don Luskin ran his bubble days open hedge-fund, ‘Metamarkets’, into the ground. He posted all his trades & you could see his idiocy in real time. He was clueless and arrogant and nothing has changed. He started playing with $40 mill. At its peak, it nearly doubled before he shut it down with around $8 million left.
He should be sent away to a place where he could do unsuspecting investors no further harm. Kudlow & his cheerleaders should be locked up for being egregiously wrong for far too long. They are the most unAmerican Americans. Send them to the front lines for a wake-up call.
That poor deluded kid is owed a LEG by W Bush.
And the deluded kid thinks Iraqis are “better off” after 100,000 Iraqis were killed by Bush, their country bombed to smithereens and OCCUPIED by the invaders, their infrastructure ruined as they live in sewage and dirty water.
And over 4000 of the deluded kid’s comrades were killed there, and 15,000 plus MAIMED FOR LIFE. By Bush-Cheney-Rumsfeld.
All for $100 a barrel oil, up from $18.
Iraqi’s are NOT JUST LIKE US.
As per Mrs. Fly’s brother, who is serving his 5th term in Iraq right now: “they’re fuc*ing idiots, barbarians.”
During the primaries more active military personnel supported Ron Paul, who called for an immediate pull-out from Iraq and an overall reduction in overseas presence, than all the other candidates, Republican and Democrat, combined.