You can’t say I didn’t warn you little Armageddon lovers. While you were over there, in your bullshit pleather chair, concocting ways to destroy America and bring capitalism to its knees, “The Fly” was doing his patriotic duty and buying equities. And, now, “The Fly” is spitting on your head, from the luxury of his 100th floor balcony.
Despite still being in a “coal hole,” my gains are bountiful and of course numerous. From Synovus Financial Corp. [[SNV]] to Citigroup Inc. [[C]] to [[UYG]] to [[ROM]] , I am winning and being an asshole about such illustrious victories.
People must think you are some sort of monstrous beast, always wanting the market to collapse and shit. What the fuck is wrong with you?
Anyway, on this spike, I will continue to buy Freeport-McMoRan Copper & Gold Inc. [[FCX]] and Walter Industries, Inc. [[WLT]] . I will not buy Peabody Energy Corporation [[BTU]] , since something entirely queer is happening to its share price.
In short, my purchase of commodities is not geared for momentum. As a matter of fact, I may end up being wrong about my entire thesis, which is the reflation of America, at the expense of the dollar. My commodity “gambles” are indirect bets on sustained dollar weakness, due to the 700 billion dollar bailout. If I am wrong, my bank and tech longs will more than make up for the commodity short comings.
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You go girl. Who does Number 2 work for.
Don’t get sucked into this .. we’re going down, sorry to say
buy gold/silver
yeah, I’m old & a bearshitter
I wanted to play for an egregious rally but not from here
Going down you say?
Hold on, let me go for a spin the ol’ time machine and tell you what will happen.
Fly – lighten up into this .. I know you hate financial advice but be careful
btw, congrats on the SNV & thx for it
the dollar bull story is going to play out well…you watch…currencies very typically follow seven year cycles and no matter what this bailout means, it is just a short term blip in the dollar’s resurgence and it should be sold again again and again
Europe is FUCKED
UK is FUCKED
as you know, the shit is hitting the fan in the US before the UK and Europe. As we get out of our crisis first, they will be feeling the homo hammer as we are leaving the station…rate cutting while we will be talking rate increases
Pound will be PAR in three years
EURO will be PAR in three years
there is nothing stopping this trade…nothing…just get out of the way and wait for the unwind
Tell me what will happen, please
at best, they pass that bill & we go up some more …I don’t see huge upside .. the economy is doomed
Yeah, I noticed that. Everything is just played out.
Gosh darn it.
I gotta agree with Juice here. Psychology seems to be that most people think this bill will be passed and all will be saved. What happens if there is any loss of confidence after the bill is passed? Shear panic, because there’s no bullets left in the gun.
There will be a spike, but can it be sustained? And if it can’t be what happens next?
Fly:
If you want to play a week $ take a look at getting long PM as opposed to the commodities.
The only thing I know for sure (sure as one can be for the short term) is that the boyz are buying on the rumor (of the bill passing) so when the news hits that it actually passes then stocks will get hit (at least for the day).
That’s the way of the Ftard on Wall Street. Buy or sell on the rumor and then do the opposite when the news hits.
Unrelated to stocks
This is outrageous, and sort of safe for work:
http://www.ebaumsworld.com/video/watch/959872/
Roubini says the worst is yet to come.
It’s an idiot rally. Oh goody the gov’t is here to save us. Juice is 100% correct IMO, this does not last.
New home sales plunge in August to slowest pace in 17 years as prices fall by record amount…
Jobless claims pushed to 7-year high…
Sell the rips…We have yet to see bottom.
Easy money made on bail out news. sideways action at best. Fri marked the highs in c,uyg,xlf for a few weeks anyway. I think crash off the table but not buying huge rally time talk.
People must think you are some sort of monstrous beast, always wanting the market to collapse and shit. What the fuck is wrong with you?
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Sigh… I saaaaaaaaawwwwrrry!
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How come no one is talking about FNM and FRE? I bought in on Friday and have the biggest returns of my life (assuming I have half a brain to get out at the right time). Their daily double digit gains are the Gorilla no one seems to care about.
Hey! I thought you bought Snivoulous Financial Corp. at over $12?
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Mercury retrograde. Just saying.
Dr. Faber was on – pink tie? – he says seasonal bottom and year end rally, but not back to new highs of course. He suggested just spend $200 bill on buying the unoccupied homes and crushing them – Voila! No more excess housing – prices stabilize and …….of course the government is too slow to accomplish such a deed.
Yep its all setting up for a sell the news trade.
However, this upmove could go on till that short sell rule goes off the table.
Government intervention doesn’t create bottoms and my chair ain’t pleather.
Jimmy R on Bloomberg
Re: McCain & Obama – these guys are embarrassing (re their lack of financial knowledge)
http://www.bloomberg.com/avp/avp.asxx?clip=mms://media2.bloomberg.com/cache/vbGb5KNYrBKo.asf&vCat=/av&RND=422954240
recusancy Says:
“What happens if there is any loss of confidence after the bill is passed? ”
You mean what happens WHEN…
be double inverse & short
Please stop the preaching. Most of us know the economy is going to visit the shit hole.
This is a venue mainly for traders. Don’t let your long-term views out way short-term opportunities.
According to the “bearded one”, this bailout will not be inflationary because the monetary base will not be expanding.
I’ll say a rally will last 1-2 weeks… I will be trimming my longs accordingly.
Top Pick: Short coal before SEC puts it on banning list.
Donny is to become “The Don”. What are all your positions here? Don’t say FRE and FNM – it’s too late.
Excuse me Donny. I am a trader and I do have long term views. I also have short and mid term views. Just a reminder. Thanks.
Need any help managing your money, The Fly?
i say buy up entire square miles of suberbia all over decrepid USA..and train the population to operate heavy equipment..flatten everything I mean everything in sight, haul it away,burn it, and let the farmers take over the land..reduce the housing excess, employment increases, steel mills back in action, farmers get busy growing good food, new housing and towns gets built in replacement in new locations, roads get built to get there..it goes on and on..out with the old crap, in with the new, a complete enemia..buy CAT X MON SEED DE WY..every body gets a nice new home, but that would be too easy
Hey Fly, check this out.
Only with the Mets could this happen.
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Fly, what’s the word on your travels to the future?
If your time horizon is relatively long-term (as in, more than a few days), the last couple of weeks of uber-negative sentiment has been a wet fucking dream. I took off my shorts and went loooong CSCO and DELL, and added to my stake in CX.
Anon
UYG
QLD
Thanks for getting me off the front page of the Detroit papers, Matt!
Donny, I think there’s a fair number of people here trading for a variety of time-frames, including myself. I hardly ever day trade, but trade short-term, intermediate and long term.
with a 700 billion injection to the monetary base this has to be inflationary, right? Right?
One thing is really disturbing me all day here in Australia. US dollar deposits are trading at around 10 to 11% and haven’t been lower that 7& all week. Money is in very short supply in dollars which makes holding gold, or anything against the US dollar very expensive to hold on to.
GE is up now.
Where is Costanza?
I liked that show.
Also, Engels wife is awesome.
Sorry, but it’s true – I lusted in my communal heart.
Morpheus, you are contemplating one of the most common of economic fallacies — what Frederic Bastiat called“The Broken Window Fallacy.”
Here’s a quick review:
One of the most persistent is that of the broken window—one breaks and this is celebrated as a boon to the economy: the window manufacturer gets an order; the hardware store sells a window; a carpenter is hired to install it; money circulates; jobs are created; the GDP goes up. In truth, of course, the economy is no better off at all.
True, there is a sudden burst of activity, and some persons have surely gained, but only at the expense of the proprietor whose window was broken, or his insurance company; and if the latter, the other policyholders who will pay higher premiums to pay for paid-out claims, especially if many have been broken.
The fallacy lies in a failure to grasp what has been foregone by repair and reconstruction—the labor and capital expended, having been lost to new production. This fallacy, seemingly so simple to explain and grasp, although requiring an intellectual effort of some mental abstraction to comprehend, seems to be ineradicable.
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I refuse to acknowledge your FNM/FRE wins.
Boca & Yogi
Don’t mean to step on your toes.
Good luck on your trades.
Severe underperformance by the smaller banks. KRE is down 1.75%. My broker wouldn’t let me short it when it was up an hour ago.
Tired of this BS and waiting for Leave It To Beaver.
Don’ look now, the ‘other black gold’ is mounting a bottoming out rally.
I am speaking of coal, of course.
No problem Donny, in my opinion, you’re an excellent short term trader.
The “other” black gold — good one.
Coal is DIRTY. Biden says no coal plants EVER in the USA.
Ftard, but still a funny guy.
Donny, no problem from me also. I’m new around here. Good luck with the QLD and the UYG.
Yogi & Boo Boo- How is the ranger at Jellystone Park?
Ranger Smith is doing fine.
“The Don” holds UYG and so do I – eureka! I just picked FNM up at 2.26 – just some hundreds not thousands because if I did thousands, it would immediately tank.