You assholes better not question “The Fly’s” time machine usage, ever again.
Do you think it’s a coincidence that on the same day I am released from profanity prison, Lehman Brothers Holdings Inc. [[LEH]] files for bankruptcy protection? Come on. I’ve been “fortune cookieing” those cocksuckers for months now. This is called perfect symmetry.
I’ve been meaning to tell you assholes off, for a long time now. It’s been building up inside of me, like some sort of profanity filled volcano, minus the lava and other volcanic materials.
From this day forth, never question Senor Tropicana’s market wizardry—not matter how egregious his losses may appear to be. Just know, I have this stock game locked the fucked down, fuckface, like some sort of prisoner of war—minus the prison and absence of any semblance of a real war.
Into the fire, I am buying more [[SRS]] and shorting more Legg Mason, Inc. [[LM]] . I expect the fucktards, who make our cheese (government), will make a valid attempt to manipulate this fucker (market) higher. However, just know, the economy has yet to tank, meaning the writedowns and earnings shortfalls have only just begun.
As I write this, the Gov’t cheese makers are asking Goldman Sachs Group, Inc. [[GS]] to help fund American International Group, Inc. [[AIG]] . The funny shit is, inside of 6 months, GS will need help too. The way the big white shoe firms are structured, none of them will make it, including GS and Morgan Stanley [[MS]] . They will have to merge with traditional deposit based banks, in order to fuck America a little more directly.
In closing, evil Fly is back, with the fury and stamina of 100 mountain lions inside a locked Lehman conference room, filled with iBankers.
Top pick: Fuck Bill Miller, via shorting Legg Mason, Inc. [[LM]]
NOTE: You are witnessing a Dow 30 component about to go bankrupt, in AIG. Next is Citigroup Inc. [[C]] , then General Motors Corporation [[GM]] .
If you enjoy the content at iBankCoin, please follow us on Twitter
welcome back
Fly 3:16 reads:
“And I beheld the tongue of the Fly that it was loosed, and the Godly fire of wrath and indignation was upon all the asshats and unbelievers to their utter destruction unto the third generation of them that hate iBankCoin.”
I love it, never have I cheered so much in my life for the market to fail.
Greatness!!!
BEST POST EVER!
Pro,
I wish we had Karma points for that. +1
Meredith Whitney nailed a hammer on WM, C and WB.
Glad to see you you back in form, chief.
-Phil
PS: Btw, tomorrow we might see a PPT pop ahead of the Fed decision and then, towards the end of the week, we break lower.
All right! Yeah, that’s how ibc rolls.
hilarious
What the fuck just happened with MS? Is there a rumor floating?
MS on fire
<>
Nice Job Fuckers!
Not yet home-boy.
Its not closed below 11k yet.
MS worth a short on this spike?
I think the PPT just cut off my Comcast cable so I can’t watch the market implosion on Bloomberg or CNBC. Biatches!
HA!
The Fly is God and once again–a cursing God.
The Fly is God!
Isn’t funny how every Tom, Dick and Harry is asked for
their opinion and no one can find me?
Low: 10,981.67 woo !
but the cursing ban inspired such linguistic creativity, no ?
now GS has gotta be a double ultra sell
…like some sort of profanity filled volcano, minus the lava and other volcanic materials.
__
94% of the people who come here don’t even realize the genius of this site.
Pretty much anyone can talk about stocks, right?
__
Given today’s events, who wants an OTC trade on a Fly Blood Pressure Exotic Option? I’ll take on the risk of a high BP above 140/90 for a premium of 1% of his NAV. No default swaps on the underlying.
“It’s been building up inside of me, like some sort of profanity filled volcano, minus the lava and other volcanic materials.
oh that’s good.
looks like ibc will have record traffic stats today too. odd, no?
If I understand it, AIG needs to raise $40B to avoid a downgrade that would trigger a collateral call.
The State of NY solved half AIG’s problem when they signed off on allowing the insurance subsidiary to dividend $20B up to HoldCo. They “only” need to raise another $20B.
Why won’t Buffett buy whatever AIG’s crown jewel is for $20B and get this mess over with?
Epic times! Lehman and Bear Stearns are the new Enron and Worldcom.
Behold!!!! The Fly will uncover all of the fucktardedness of this fucked up market. The Fly lives!!!!
Look at SRS go!!
good stuff … worth the wait
The Fly rules
FINALLY you can curse again 🙂
I’m going to win DT’s stupid contest
I expect a rate cut and a sissypants rally tomorrow which will get beaten down with a mighty SLAP!
HahFuckinHah
now that Evil Fly is back .. your supposed 1st tier blog is acting like a fucking 3rd tier blog
FIX IT Senor Tropicana!
FUCK YEAH THE FLY IS BACK!
Good to have The Fly, genus Musca Profanus, back in action.
Courtesy of the Govy Cheesemakers – Turnaround Cheese Tuesday, anyone?
I think Gold/Silver is the play here .. if global feds cut, gold will fly. If they don’t, its already been trashed & you can probably get out with an acceptable loss.
Who pee’d in your oatmeal Fly?
sold out of all my shorts five min before the close, skf and srs, the whole bunch
expecting a massive rate cut this week, into which I will buy more skf and srs on the dip
welcome back fly
fuckity fuck fuck! rawk fucking on.
welcome back.
THIS SHIT IS NO ACCIDENT – REMEMBER TO LOOK YOUR DOORS
THE INQUISITION IS COMING
Study the Council of Trent fuckers
Off to polish my gold coinz.
Dfx, Amen, you’re exactly right…..but it’s nice to have the man back in full force regardless 🙂
“The Bottom is In. The Bottom is In.”
Oh wait, that is what I declared 8 weeks ago.
Never mind.
It’s about fuckin’ time. I was getting sick of all that “Stepford Fly” bullshit.
After reading that, I had a “flygasm”.
WOW! what a day… The Volcanic Fly in all his glory vaporizing those on the wrong side of the market. -504
Jake, I work in a retail wirehouse and me and at least 4 other brokers use this site as our primary source for daily market commentary, despite the egregious amount of money our firm spends on Kudlowesque street manure. It doesn’t take long to realize that behind the epic humor, there is an experienced trader sharing timely trading ideas………for free…….long live His Flyness.
I bet it’s disconcerting to some how frequently iBC wins.
Roll back the stone!!
NorCal:
You should be able to stream Bloomberg.
After reading that, I had a “flygasm”.
Can’t “karma” that, thanks to the hacking asshats, so I’ll just repeat it with a “LOFL!” attached.
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encl: LOFL!!
_
How tough is Fly, really?
____
I’ll have you know…
Fly is so tough, that he’s having his staples removed tomorrow via powerful electromagnets!
No carp, if you don’t believe me, ask his doctor!
_
I think the proper format is encl:[1] since there is only one enclosure, but, don’t take my word for it, I’m drunk on power.
Damn Fly, I’ve gotta say, I’m kind of disappointed, I was expecting some fucking Turrets eruption from that bottled up volcano.
Didn’t get it, and now I’m left wondering…why?
Danny, you can be my secretary any day.
__
Welcome back!
Holy scheiss… I wonder if Alpha is getting satellite phone calls out at the cabin where he’s fishing.
Take a look at those Costanza picks from a coupla days ago… hope he Costanza’d right out of ’em before he left…
_
“The Fly” without profanity was like whiskey without a beer chaser. Welcome the fuck back. fuckface.
Never doubted you for a second Fly.
Session 1
Dr: So tell me something about yourself?
Me: Well, there is this guy named “The Fly” that has a time machine.
Dr: Really? A time machine?
Me: Yeah, he travels into the future with it and comes back to let us know whats going to happen
Dr: Happen with what?
Me: Whatever he wants. The Fly is never to be questioned, ever. He banks ergegious amounts of coin while eating ribs and throwing M-80’s at his neighbors house.
Dr. Have you ever seen this “FLY” character?
Me: Nope.
Dr. Does he ever talk to you?
Me: Nope. He doesnt have time for third tier internet leeches.
Dr: Do you consider him a good friend.
Me: I love him, but I dont think he gives a fuck about me.
Dr: Does he help you in your daily life in some way?
Me: Listen Doc, if you saw how much money The FLY made me today, you would be so turned on that you would start playing with yourself and probably allow me to enter you. So, to answer your question,yes. The Fly helps me bank coin and get tail that is way out of my league.
Danny,
This is in reply to your prior comment “I envy the guys Erin fooled around with in college. I can only hope/assume some girl I fooled around with in college will be famous some day. I guess that’s every young man’s dream though.”
I envy any guy who has fooled around with Erin BTW but that is not my comment.
There is a famous TV personality that I used to sneak into my bedroom late at night when I was just out of High School and living at my parent’s house. When I see her on TV now, all I can think about is how fucking scary big her head looks on my 50″ TV. I have to change the channel every time.
Crimewave
Sell your house, and live in the street. You’ll be able to buy 2 houses in 2 years for that price, and 8 in 4 years… that is, if you convert your money to gold.
Value of houses will be destroyed until population reduction 2012 is complete, then there will be plenty of places to live… It’ll be all “I am legend” like, with 1 person per city, and a random town of the super immune
As I was posting the other day….SPG is done…the REITS will continue to get the hammer of death…this trade is JUST unwinding!
nncoco – I hadn’t thought of that angle.
Yeah fucker!!! That’s the spirit!!! Tell it like it is….
Jake – I can’t be your secretary — I’m not a woman. My secretary will make me omelets at lunch while I trade, and, um…other stuff.
Great commentary and strategy, Fly. Tough market but you’re nailing it better than anyone I speak with or read. Congrats kid.
This is great.
But listen, can we get back to business for a second? Since you know C and AIG are going bankrupt, and that we’ll probably have a few good ole bank runs, and panics that lead to civil unrest and other fun stuff, what can we do to protect our deposits? How about our families? Are there any other countries you’re bullish on?
Congrats on your win. You too Danny.
-DT
I like Dylan Ratigan. I bet he eventually moves on and gets a big network anchor deal some day.
Jason Goepfert
04:04:02 PM
No positions in stocks mentioned.
Breadth
In the past 45 years, I can find only a handful of dates with breadth this bad:
* 10/9/79 (stocks continued to get hit for several weeks before a major low)
* 10/16/87 (the day before Black Monday)
* 10/19/87 (Black Monday)
* 10/26/87 (the aftermath of Black Monday, decent buying opportunity)
* 3/8/96 (nice buying opp)
* 10/27/97 (excellent buying opp)
We should be within one-three weeks of another int-term rally… but short-term could still be painful.
Donny wins BIG again!
Makes sense to me. I like Jason Goepfert’s material and thoughts. I don’t think today was the washout we needed.
However, the increasingly somber tones of the talking heads means were a lot closer than we were even at noon today.
Thanks DT.
Wells Fargo holds $109 mln of Lehman Preferred, trades 1% of par; holds $90 mln of Lehman notes, $50 mln of counterparty exposure to Lehman – DJ (31.00 -3.29) -Update-
Is it the 4PM close yet? I have a splitting headache.
Good crap, Juice.
Aces.
As for The Fly (God)–
Throughout the 2006-07 bull run, I posted my favorite phrase “The Fly is God” quite a few times. Most folks enjoyed the cheerleading, some religious nuts felt it was not appropriate, and some punters took the opportunity to challenge The Fly. There was a lot of “anyone can pick stocks in a good market” and “let’s see him make it through a grinding bear market” and “everyone is God in a bull market.” It was hilarious then and it is more hilarious now. I shouldn’t have to tell the “loyal internet fucktards” this, but for the rest of you:
The Fly is God
Fly,
Eloquent prose…
Zombie is getting verbose.
Fly…
Not all of us really prefer the profanity. You do not need it my good man. You are better than that.
Hey guys, remember – all of these inverse ETFs are derivatives. Don’t get greedy.
Breaking! Dick Fuld and John Thain caught on camera after 48 hours of pleading with the Fed and other suitors!
__
What’s everyone’s take on COF?
Fcuck, no site editing ability! Here’s the Fuld & Thain short, anyway.
Monkey…
COF! COF! (HOMO!) COF!
That’s my take.
__-
Double FcuCK!
I posted the wrong Thain and Fuld Fed meeting post.
That’s the correct one.
Maybe I should have sold some SKFie near the close? There was no reversal today. When the bank hits single digits, its done? WB is not far away. I see no reason to buy SRS since it tracks closely to SKF and SKF wins most of the time. Need capital? There is none left. People are going to have to take the hits now.
So it’s going down like Larry Craig?
Monkey, yes, sorry about the confusion. But I felt you were calling for a pun answer on that one.
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Anonymous, you are not making much sense.
If you think the banks are done, why sell SKF?
And the proper term is “Skiffles,” not Skifie, like the damn peanut butter.
___
Market proved again Technical analysts are gay, lazy and ignorant.
Jake,
I’ve sold and reloaded SKF several times over the past months. (One of the few trades I’ve done right this year.) Today I sold a third of them at the close. Too much profit to ignore. I just read that Rev Shark is recommending UYG, the yang to SKF’s yin, as his “stock of the week,” betting on a bounce. Interesting idea.
You’ve been a big fan of the Skiffles for a long time now. Are you trading them, holding them like a prized collection of Hummel figurines or both? What do you think of Rev’s UYG idea?
Senor Tropicana welcome back fucker!
Wonder how Steve did in has Fantasy League yesterday?
I go up and down. Sometimes I sell calls. I was actually thinking of selling some at the close today (about 25% was my plan), but Fly talked me out of it.
I think the Rev needs to be defrocked. He thinks there will be a rate cut, which seems to be what everyone thinks.
Not sure that helps much.
___
Hey Picasso start a new thread or this baby is going to 200.
Fly I think DT rasise a good point. How are you positioning your family. How much is to much to be invested with Wachovia Sec.,BAC Sec. or any of the brokerage firms?
Futures down another 50, 555 points for the day. That sure looks like blood in the street to me.
fitch downgrade aig is why.
apparently when karma went away, so did i. that’s gay.
Mexican;
Market Technicians called for the DOW to be at 10900 by Sept. 15th. Check out Bulkowski’s Blog. He has it posted. Isn’t that close enough?
Jake,
Just to be fair to Rev (he’s been pretty good for the past several months, generally trying to undo Cramer’s idiotic advice and deflating the dwarf’s misleading self-congratulations on TSCM), his initial comments re UYG were written last night. He was expecting an even deeper crater this morning. He’s now waving off this trade unless and until AIG is sorted out. No mention of a rate cut in his rationale.
I don’t subscribe to TSC anymore, as I’m tired of trying to punch Cramer’s tiny little eyebrows off through my computer screen, so I don’t see Rev’s comments through the day. The small community of traders that commented on Rev’s blog were similar to IBC’s better posters.
Of course, there’s only one “The Fly.”
Thanks for the idea re selling calls on SKF.
Thanks Fly, you said it all at the beginning of the year:
“It’s Not Too Late to Sell
by The Fly on January 15th, 2008 at 7:48 am
If we are heading into recession, as sure as I’m sitting here, the major indices will be 10-15% lower by mid-year. Take notice of the abysmal start to 2008 as a warning shot.
If your approach to the market is to go long stocks, all the time, regardless of reason—you are in for a rough lesson.
See, unlike you low-end fuckers, “The Fly” learned a thing or two, playing down markets in 2000-2002.
Right now, (FXP: 117.69 +14.15%) is my largest position. Look you, all bubbles come to an end, no matter how sophisticated the puppet masters are. Remember MNCS?
Also, with President Bush talking down oil in the middle east, I want to buy more (DCR: 0.00 N/A) and (DUG: 44.14 +12.66%).
Finally, my (DECK: 111.39 -1.31%) and (LEH: 0.21 -94.25%) shorts are working here. And, on the back of that homo (C: 15.24 -15.14%) number, I am bulking up on my (SKF: 132.52 +17.14%) position.
Basically, “The Fly” is a big ol’ bear & shit.
UPDATE: Citigroup- Credit rating cut to AA- by S&P following loss- Bloomberg (28.13 -0.93)”
cnbc is saying that s&p is cutting their ratings on AIG. shocker.
these ratings agencies are going to get skull-fucked by the gov’t eventually. count on it.
To Jake Gint – I bought and sold some SKF in addition to my core shares today – I admit being lucky, but I bought at 120.01 and sold at 125.99 and then bought back at 124.01. I did another similar sell and buy for less than a point. The spring is being compressed here though and tomorrow may bring 2 or 300 points up.
So let’s say a random fellow has about $100k worth of stocks and mutual funds, all longs. Down about 13% for the year, which is better than many. Any thoughts on a decent Armageddon hedge, along the lines of a bunch of out-of-the-money, seemingly overpriced puts in UYG?
Kudlow just tried to spin AIG positively. Said they have a lot of “good assets.” Faber yelled him down saying “THEY’RE LEVERED LARRY! HAVEN’T YOU HEARD THIS STORY BEFORE?”
Please Fly, give this fraud an asshat award. And CNBC, how about cutting these propagandaists off already? Any integrity you still have is quickly dissolving.
-DT
What’s wrong with C?
funny