It’s the ultimate ‘Constanza trade.” We will goose step higher, while the banking system gets transferred to a life support system.
I can tell you, with a certain amount of certitude, many of my ‘smart friends’ are short stocks like out of control imbeciles. For the moment, “The Fly” believes the crisis is over. The government is in control and they will brainwash or arrest short sellers, in order to jolt stocks higher.
I know it’s sort of a ‘conspiracy theorized trading philosophy.’ However, in a world of smoke and mirrors, sometimes all that matters is intuition.
While it’s true, Congress can mangle the bailout and fuck everyone, ad hoc. I rather ‘go government’ on egregious short selling malcontents and buy up massive quantities of Citigroup Inc. [[C]] , [[UYG]] , [[ROM]] and Freeport-McMoRan Copper & Gold Inc. [[FCX]] —in order to hedge for inflation.
As for my endeavors into coal:
I do not like it—not one bit. But, I believe the knifing price action smells of capitulation, regardless of underlying fundamentals.
So, to sum things up:
Long banks, tech and coal.
Short third tier blogs, elections and men who wear makeup on tv.
If you enjoy the content at iBankCoin, please follow us on Twitter
Heh, ducati sure likes to blog about you.
we will become like Argentina
Fly, which tech names do you like at this point as I know a few weeks ago (maybe a few days as the recent market has aged me) that you were bearish on AAPL.
RIMM has earnings on the 25th, that should give the next direction in tech I am thinking. I am bearish RIMM though I hope I dont regret that decision.
What a stupid market.
He is a ball cradler.
Bullshit, we are going lower. Fly you will get steam rolled guessing, it ain’t happnin patner.
I wish we were Argentina then I could rule the world with my short today.
Sound financial advice will not be tolerated… this post cannot be allowed. We must vote to regulate the internet so the Fly cannot save the financial community… it’s our job to do the controlling, we don’t like competition.
Great call on the market going higher!
Fly – 0 , BIG MIKE – 1
StockRake – are they Boxers or briefs?
Hey Big Mike. STFU. I’ll chop you too.
How many times does it have to be said…the bear market will not end on government intervention.
So let me get this straight… the Fly’s entire trading system is based on… guessing?
Fly long banks will shrink your testicles. Don’t you know this is a double Costanza day?
Boxers at home, boxer-briefs at the gym. I’ll send you a used pair of both with a StockRake patch on ’em.
HA! “Short third tier blogs, elections and men who wear makeup on tv.” LMAO.
The Fly is God. The Fly will once again prove wrong the numerous doubters led by Devil Dog.
The Fly is God.
Fly – you will be correct in your thesis … however this week may be tough. Clearer sailing next week. There may still be one short trade left. If you don’t mind a drawdown, load the boat.
Going long KOL….it should rally into the end of the year with massive coal purchases for Christmas stockings/gifts….looking to go long Chinese melamine stocks….the agressive shaved head look is dead with this financial panic and I have it on good authority that MVIS is encorporating their technology into a killer monocle…..
Correction to my previous post: replace ‘stupid’ with ‘fucking retarded’
The word government comes from the root words govern – to rule or control over and mente – of or pertaining to the mind.
Thus the word government can be translated to mean “ruling of the mind”.
And that’s what they do with us, they confuse us, and give us misinformation. Go to any country and ask them about Osama, and they have a different story. France had a report saying that he died from kidney failure. Somewhere In the middle east, there was a report that said he died of a collapsed lung.
And in an interview, Bhutto, shortly before being assassinated, said Omar Sheikh murdered Bin Ladin.
And the media will eat up any story the government gives them.
And some muslim scholars ask an interviewer “who is Osama Bin Ladin? He is someone the US government made up to give them a reason to attack us”
Bennet Sedacca
02:40:51 PM
No positions in stocks mentioned.
Preferred Market Update
As hedge fund redemptions pile up, there is every sort of debt instrument for sale, particularly, hybrids (fixed to floating preferreds) and preferred shares.
There are a bunch of funds that used the securities as a funding vehicle. Now they are funding out what happens to perpetual securities when spreads blow out.
The real problem though is that selling begets selling. Individuals, jammed full of this stuff, will panic and sell for a tax loss.
Meanwhile it isn’t terribly economic for firms to issue at 15%, which is the popular level for the weak regionals.
Then there are four more problems.
1. Quarter end balance sheet pressures on 9/30.
2. Mutual fund fiscal year ends 10/31.
3. Brokerage firms fiscal year 11/30.
4. Year end 12/31.
I do not see this market rallying until we get past these dates and it will make it awfully tough on those that need capital, which is nearly everyone.
The Fly and I now have something in common
‘we are both hated’.
BTU is head and shoulders above the rest. Bwahahahahahaaha.
Damn, The Fly keeps us updated on his positions and market analysis on a daily bases and some of you wanna be day traders take glory in his demise and temporary losses….how sad.
Erin Burnett’s Booty Call:
The Fly doesn’t “guess”. He knows. It is very zen-like. The Fly IS the market. He just is.
Never bet against Master Fly.
Fuck this fucking fucked up piece of fucking shit fucking market and the high holy fucktards who have fucked it into a cocked hat.
And congress is in the process of handing one twitchy fuck total control of the market, the economy, the banking system, their wives, daughters and mistresses, presumably because since he’s done such a great fucking job so far.
We’re fucked.
Fuck this fucking fucked up piece of fucking shit fucking market and the high holy fucktards who have fucked it into a cocked hat.
And congress is in the process of handing one twitchy fuck total control of the market, the economy, the banking system, their wives, daughters and mistresses, presumably because he’s done such a great fucking job so far.
We’re fucked.
Sorry for the fucking repeat but I was trying to edit a word out and replace it with another “fuck,” but the fucking edit function is fucked.
Have a nice day.
I took off my hedges at the worst possible moment. Then I looked and saw that it actually wouldn’t have made much difference, since my entry was completely botched (DUG @ $38 for instance). Fuck me with a roll of Wal-Mart “happy face” stickers, twice.
Anton, I like your fucking style.
Poof! Your bull shit energy rally is gone.
For fuck’s sake Merlin, go poof yourself with a bull, you housecoat-wearing transvestite.*
*Note the shout out to fuck.
Bring back the karma buttons. So many good posts here ( and a few bad ones) and nothing to click.
Yeah! Take it to those third-tier bloggers! They’re a bunch of homos!
-DT
+10 KARMA for DT