Nothing works. Everything is broken.
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Joined Nov 10, 2007
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Don’t worry its always darkest before everything goes pitch black.
Deflation. 700B will replace but not expand the money supply.
Look Cramer is now a Gold Bug, again. And he’s waxing negative on the markets. If there ever was a time for the markets to stage a bear rally, all the pieces are in place.
That said, they’re also in place to crash.
However, I think we’ll have a stupid rally instead. Somewhere in here is a rally.
Don’t be such a wet blanket.
it’s true
How bout the futures down 500 one morning… and a half pt rate cut 6 am. How bout a Mozzilo[sic] burnt toast no shorts rally? Discuss
Worked for me!
Devildog:
Go fuck a water hose.
This was the weirdest fuckin day I’ve seen in awhile. Last time I saw this kind of action was when the hedge funds were blowing up last august.
It doesn’t matter. The Fly always wins. That rule is a cornerstone of the market. In the meantime, let us plan a Ron Paul revolution.
Gold has worked nicely.
Perfect.
It would have to be a fire hose if I’m going to hit the sides!
consolidation, but what’s next? ask comrade treasury sec’y paulson.
http://www.youtube.com/watch?v=3qLefrvxbq8
The old correlations are broken.
There will be new correlations developing.Keep an open mind…and plenty of cash, gold etc.
Why aren’t you guys watching Heroes?
How can anyone get a hold of what is going on. We got gay asshats, like Barny “FuckFace” Frank, lobbing grenades at this fucking market. These fucking scumbags are going to leverage everything they can, to get exactly what they want.
As I said before, why make large bets with this bullshit going on. If they continue to fight, the stock market will collapse. At this point it would better for Paulson to say “never-mind”.
Fuck this!
Barney is a homo.
So?
When everything’s broke, I expect to read that The Fly has been leveraged long SuperGlue since January.
Walk it off.
The Fly doesn’t need Superglue, he melds things together with the laser beams from his eyes.
Some people on this fucking board are real pieces of work.
In other news, FCX will not rally and sustain it even if gold hits 10,000, what a pussy fucking stock.
Top Pick: SRS
Boca: Get away from the television set. It emits deadly radioactive rays.
____________________
The broker I get, the wiser Donny becomes.
lmao no way Anton, I’m addicted to cheesy sci-fi shows and Chuck Norris jokes.
The jump in oil prices is fucking up my rescue. I ban long positions in oil effective immediately.
Charlie … its so ridiculous … RP is the only politico who truly understands this situation & could get us going in the right direction .. but forget it, unfortunately … the brainwashed masses would rather cling to the program in their implanted chips
fuck’em all … let them eat dirt .. you can lead a horse to water but …
in other news: 7000 more stocks have been added to the “do not short” list.
http://www.youtube.com/watch?v=84Ud3V9NPw8
If Chuck Norris was such a badass, how did he get all of his hair punched off?
For that matter, if Chuck Norris is such a TV star, why is he using a hairpiece made of Billy Ray Cyrus’s old mullet?
Just buy DXO on the dip and stop whinning bitches.
He’s bald???! Who knew?
It’s the cool as ice attitude anyway, not the hair, as you very well know Mr. Cigur.
“Great for my pr0n collection,” said Kudlow.
http://www.engadget.com/2008/09/22/mysterious-korean-pocket-projector-spotted-mistaken-for-cheap-w/
Not to suggest those fast and furious feet were made of clay, but a friend of mine worked on “Walker, Texas Ranger,” I kid you not. Mr. Norris was kind of a diva. And he fired his own son from the show.
Most of the fights he was in, on-screen and off, started with some ill considered comment about his hairpiece.
True story.
oh no, another icon of mine bites the dust. Damn! He probably invests in mutual funds too.
boca –
you didn’t happen to go to uva, did you?
For traders, currencies are working now. Big moves and fast. What used to take 2 or 3 weeks happens in a day.
The why is easy to understand and keep up with: if it looks like the government is raising debt and adding unexpected T Bills to the Fed ( pretty much the current Hank & Ben production ), the Dollar is crushed, especially by the commodity countries like Canada & Oz. Otherwise the Dollar goes up big time.
punyandy, no, sorry I’m a SUNY grad.
To catch the big currency moves, you have to start by 4 AM EDT at the latest, better an hour earlier.
What can I say? If it was easy, everybody would do it.
Anyway that’s about the time Treasury and Fed are coming out with announcements these days, so you’d have a jump on that.
boca –
word. i chat stocks with a dude on a uva message board with a very similar username and thought it might be you.
Puny Brandy — Boca is a dudette, dude.
___
Fly — gold works, or “worked,” until that radioactive jackhat Cramer got on board.
__
Boca’s a girl not a dude puny
Hi Jake! yes, that would be a female trader here, andy.
I caught part of Cramer’s discussion of gold tonight and wasn’t too worried that he’s calling a top in gold. He might actually be right plus he seems to be learning from here … in not so many words, he said stocks are broken and for asshats, buy gold. I think he doesn’t know what else to recommend for his viewers.
Danny, next time you have one of those dreams about the dollar or stocks, make sure you post it here before the market opens, please.
Ok, I will for next time. Did I mention that the most traumatic part was not being that short for the crash? Dreams are fucked up. But, for the most part, I have kickass dreams. They are always awesome. I’ll write about those too.
Heads up fuckers! Market grenades are being airmailed courtesy of the American Socialist Oligarchy.
Anton: LMAO. Thanks for that great dirt on Norris. I always thought of him as a “no talent ass clown.” If Chuck Norris was such a bad ass, he’d be on the big screen–in movies. TV is for lame actors or failed movie actors like David Caruso. Good stuff, Anton.
Cramer is right just enough to be dangerous. I subscribed to the entire KoolAid RealMoney package for several years and lost money whenever I followed his advice. His AA+ portfolio is/was a disaster.
RevShark and his blog subscribers were much better than Cramer for well reasoned trading advice. Rev & blog almost always went 180 degrees from Cramer’s picks.
I caught part of his show today and I know what you’re saying. But once he has an audience, it’s back to the John Wayne Gacy clown circus.
Zombie,
Just a quick add here. Please don’t misinterpret my comments. At one point, Norris was on par with many of the better mixed marshal arts guys competing now. He’s kind of small, but he was a devastating puncher and a very effective kicker. And truly ruthless. Like punch-a-guy-on-his-way-down ruthless. And he had that Roberto Durand thing where he only really engaged once some guy had tagged him in the face and pissed him off.
I like that.
But he’s been living on his laurels for decades, like the diminutive, aforementioned Cramer. Plus, he’s kind of a tool. Which is so unnecessary.
BTW, he was in movies. With Bruce Lee, who apparently thought he was the shit. So, I’m, like, doubly disappointed in Chucky.
This is the longest conversation I have ever had, or will have again, about Mr. Norris.
I hope everyone kicks ass like Walker, Texas Ranger tomorrow.
Nite-nite.
Here Fly. The original is good too.
http://www.youtube.com/watch?v=AO9dbmJ_2zU
Bruce Lee vs Chuck Norris
http://www.youtube.com/watch?v=TbIwQMBeC2c
Ozark: That is not gold. That is platinum, Sir.
Charlie: Tho it lacks the Mark Romanek video, the album’s namesake, “When the Man Comes Around,” also applies. To hear Tent Reznor’s version of Hurt and imagine what Johnny Cash could do was genius on Rick Rubin’s part.
Jake: Just read “CHK — Like “Cats” — “Always and forever.” Hilarious. Good tip and I didn’t even know that song was in the show.
Dr. Ambien: Please up my dosage.
Mmmm, “Trent,” rather.
NOV call options work
Another beautiful day in the United States of Goldman Sachs!
The de-leverage trend is alive and well.
Hiding in gold or oil wont work either.
I’d like to turn to the blank check given to Treasury Tsar Hank Paulson — to hold, at one time, $700 billion’ worth of whatever he deems ought to be held. Obviously, what he thought was a bazooka was only a squirt gun. Now he wants us to think he has a real bazooka. What he wants most is to restore confidence. However, he may not be successful. In any case, it will be interesting to see who jockeys for the Treasury position in the next administration, as all kinds of favors will be handed out via that governmental department.
The fact that we’ll be printing whatever money we can’t borrow at favorable rates is going to have a negative long-term effect on the currency and Treasury markets, both of which were weaker today. It will probably take some time before all the ramifications of the moves of last week are understood. But I don’t see any good coming from any of this in the long run.
If I was to try to find one piece of last week’s actions least objectionable, I would say, putting a halt to the run on the money funds. I know that places at a disadvantage all the people who prudently owned government-only paper, like many Rap readers. But just as when push came to shove AIG had to be bailed out, I think that having a complete run on the money funds would have been devastating to too many innocent bystanders. But the ham-handed ban on shortselling and giving the Treasury a trillion dollars to paper over mistakes made by Hank’s old buddies and the lunatics who run financial institutions is something that I just cannot stomach.
I don’t believe that the economy will be improved by these actions, but the financial crisis for now is probably over (if the legislation passes and the stock market rally doesn’t completely fall apart — which it could). And to that extent, they will keep the economy from getting “extra-worse” on the back of a stock-market crash and run on the money funds.
Having said that, when folks discover just how weak the economy is, and now that we’ve blown out all kinds of participants in the stock market, we may still get some sort of a crash or serious sleighride south (though it’s really hard to draw conclusions at this moment in time). We obviously were close to a crash in the stock market and a seizing up of the financial system. Markets that are out of control do crash, and that’s all part of capitalism. In any case, given the present dynamics, I certainly don’t see why anyone would want to buy most stocks, other than selected resource-based companies.
Thanks 🙂
SKF should start trading normal again:
WSJ reports the SEC said shortly after midnight Monday that it would revise rules to curb short selling that it had issued just three days before. The SEC’s latest change of direction on short selling caught some market participants off guard and prompted criticism that the agency has miscalculated the impact of its rulemaking. The SEC, in a release issued at 12:26 a.m. EST Monday, reversed a position it had taken Friday when it said that market makers couldn’t short financial stocks after Friday. The new rules as of Monday: Those engaged in bona fide market making and hedging activity, including in derivative contracts, could continue to short. “The purpose of this accommodation is to permit market makers to continue to provide liquidity to the markets,” the SEC explained in the revised order. To try to prevent short sellers from using market makers to take big positions, the SEC said market makers couldn’t short for a customer if it would give them a net short position in the security.
off to a meeting.
Has Larry Kudlow ever won an asshat? He should be a regular. Have you ever seen a pundit more wrong, more often? I can’t think of one. Remember the economy “The greatest story never told?” PLease.
Also, deflation?? Please dumbshit. This is going to be rampant inflation. I told Fly about a year and a half ago that I was a geologist and oil was the future. He said, Gelologist don’t make enough money”…… this one does. Oil futures have made me. I’ve got mine….and I’m going to get a lot more. Higher gentlemen, much, much higher.
It’s true Stufmufin, geologists don’t ever make money. They usually have scruffy looking beards and look like dirty hippies.
Interesting… our geology department at my very liberal arts undergrad school was filled with Republicans.
Some of them even had consulting contracts with…. with… Exxon!!
Gasp!
__
I needed an easy A at the U of Fl. so I signed up for Geology 101 otherwise known as “rocks for jocks.”
The frequency of Flys swearing is inversely proportional to the amount of money he loses, surely it should be the other way around?
PLD added to the no short list – 5% weight in the SRS equation.
More reits will follow
Geology is the study of solidified dinosaur poop spanning the worlds biggest urinal and extra terrestrial planets.
Anton — re: “Always and Forever”
Sorry, not sure if that was a song in the show or not, as I never saw it, although the damn play seemed to have run most of my lifetime (in the Winter Garden Theater, I think) in New York.
That slogan was the tag line on the advertising. After a while it seemed less an encomium and more a self-fulfilling prediction.
_______
Caddy — not many easy “A’s” at my school, although there was something called “Western Civ” that had the nickname “Toga Party.”
Geology was one of the harder assed departments. We sent a lot of guys on to PhD programs and of course, careers with Big Oil.
_____
GEORGE CONSTANZA SAYS: Nothing! Just do nothing!
I needed an easy A at the U of Fl. so I signed up for Geology 101 otherwise known as “rocks for jocks.”
—————–
Interesting…I took the same course at Penn State. My lab partner was the stupidest corn-bred offensive lineman ever….told him not to touch anything and just copy my notes.
P.S.: Love Gainsville…love Gator Growl..so many hotties there, though, that I doubt I would have ever graduated….
Fly – buyout rumor on FCX
How about that Senator Shelby. I like that country fuck!
this just in- “Black Gold” discovered in abundance on the moon, price going to $12 a barrel. Side benefit- “moon cheese” made available during drilling, will be used to supplement cheese being churned out by the government.
Minyan Peter
09:46:27 AM
Position in SPY options
No SKF for now…
Clearly the moratorium on financial services stock short selling has materially and adversely affected the Ultrashort Financials ETF (SKF). Proshares announced last week that they would not be adding to the outstanding principal of the product, which effectively de-links the security from the underlying bank stocks.
Between the regulatory environment and the fact that the ultra products are derivative contracts I have liquidated all of my ultrashort holdings. To the extent that I am going to be short the market, I am using (and plan to use) SPY put options because of their liquidity. And, to Todd’s mantra, it gives me clear risk management.
Can someone please tell Mark Haines to kindly STFU for a couple decades?
Thanks in advance.
Has anyone located the SEC order re: shorts that Fly mentioned? It’s not on the SEC site yet.
Can you sight the Shrinkage ?
The moronic business writers for the AP say that there were huge declines in oil as traders cashed in on gains from yesterday–back “down” to $109/barrel. They also said that it was a short covering rally, where they have to cover or take delivery of actual crude. If you are short crude futures, you have to PROVIDE delivery of the oil, not TAKE delivery. These geniuses, these MENSA prodigies are the financial media. Staggering.
Paulson Kicking Ass and Taking Names. About time he sticks up for himself.
I just love Paulson’s orange tie…”the fall is coming, the fall is coming!!!”
Wally’s Practical Joke : TV-G
Tuesday, September 23 at 11:30 AM (ET/PT)
Interesting message to the Fly at 3:52!
__
wow. cox is a putz.
What’s up with ENER? Anyone know what other stocks roll with it? It doesn’t seem to be a pure solar or pure semi…
-DT
Dino… They also make batteries. If material prices rise then that hurts their bottom line.
Plus Spain just upped their solar subsidies a little. Maybe they were expected to up it more then they did.
Bernanke looks like he is sleeping while Hanky speaks.
Fly
Get out from under the desk and fucking write something as we’re all waiting.
Yes, “Beav”, Eddie Haskell just had a practical joke pulled on him and now he wants to get even with Lumpy. Great times in Mayfield.
Thanks, recusancy.
Paulson and Bernanke are trying hard to become the biggest “bottom-pickers” ever.
And you all know the saying about picking bottoms in the stock market. All you get are stinky fingers.
-DT
The Fly announced at 8:22am today that he was off to a meeting.
You, sir, are an asswipe.
I hope Fly remembered to zip up his Fly for this meeting. It was rather embarrassing the last time especially since he also forgot to wear shoes.
Dino… It kinda trades with SOLF
Nice triangles developing on the 5 min charts in the Dow SPX, comp, qqqq.
It’s shaping up to be another day in the shitter….
Hey Fly,
Everything is broken!
http://www.youtube.com/watch?v=ww_91Bf9Efc
donde esta senor tropicana?
DRYS getting its balls crushed.
There is only one thing necessary to understand what is happening and it is this: no one at U.S. Banks, no one at the Federal Reserve and no one in politics can accept the reality that real estate assets in this country remain oversupplied, overpriced and overleveraged.
It is that simple. Adding more SRS…
This is excellent:
“The Dukes of Moral Hazard.”
__
(hat tip, Doc)
FWIW, looks like those triangles broke to the downside.
Looks like the Cramer top is in for commodities.
Haha… He told his flock to buy gold in three days. It’ll probably be back up by then.
When nothing makes sense, go eat a sandwich. That’s what Grandpa Fly used to say, just prior to lathering himself with oil oil—readying up for a good old school Italian tan. Sounds like good advice to me
The market as “dumb blonde” metaphor.
Doh!
__
how is SRS not up?
Fly,
Call this whatever you want, but you are one of the best and I have great confident in you that everything will work out in the end. Believe!!!
brandon
Thanks, Devildog! I just loaded up on DTO. Cheers.