At least the market isn’t dropping like it was being raped, while its hair was aflame. Much to my chagrin, the market is declining like a gentleman, if such a thing exists. I envision some guy, holding the market levers, slowly lowering this fucker over a fine Chardonnay.
Naturally, the shareholders of some of my positions would beg to differ, from such a deranged, yet poignant argument. I, on the other hand, do not believe this decline is “healthy,” like idiots espouse on television boxes. However, I do believe we are in the midst of a process. The market is cleansing itself of weak links, while “gorilla stomping” those who have faith in equities.
It’s quite the conundrum.
Once again, the flight to quality into t-bills is running wild, even after LIBOR and TED spreads have eased. This makes no sense.
The new focus is the economy. Gosh darnit, just when you thought the market was set to trade up, the fucking economy gets in the way.
Here’s the thing:
The economy is going to be weak, for at least another 5-9 months. But, as many of you stock market lovers know, usually, the market bottoms out 6 months prior to an economic recovery. And, if I may be so bold, the markets always outperform during the months of Nov-December.
My plans, as always, is to get long into Thanksgiving, short into Christmas. I am not entirely sure where this market will stabilize. Hence, I have a 27% cash position. But, it will be soon and the buying opportunities will be grand, almost gentleman-like.
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Fly, Thanks for the encouraging words. Still my balls and most of my longs get bootstomped sic. I look forward to the day when the bearshitters have their heads displayed on a pike.
Get ready fuckers … the DIG train is coming.
Devil Dog & Tim Knight, win again. Much to my chagrin 🙁
FLy-
No conundrum. The market is dropping like a red headed hooker. Wake up! Even strong companies are being raped. Yes weak links will be gone and thats a good thing. The economy will be weak for a year or two. Even though the The lord, the one, the golden child Obama takes his throne
Huge sell off in Asia yesterday. Market dropping fast. We may re-test the lows and shake out some bottom feeders. Boeing is going to screw the pooch after the bell, too, so it’s going to be a rough day.
Fly:
the fall isn’t exactly gentlemanly. It’s more of the bridge and tunnel type move if you ask me.
Funny. DevilDog’s AAPL shorts are about to come into the money.
No, this drop is honourable.
Sorry to disappoint.
As always, Wood roots for the bad guy.
Is <a href=”http://www.bloomberg.com/apps/news?pid=20601087&sid=a5x0jMKZf4yc&refer=home” this already priced into the market ?
How about this ?
Because if they are not priced in, Dow 5000 here we come.
This is the link
Fly, you’ve gone out of your gourd.
Market is crashing, fuck-face…what you mean going down orderly?
Time to double-down bets…
Either we miraculously recover, or the market starts squealing like a little girl in a few minutes.
WOW
oil infrastructure plays like MDR, SGR, FLR getting raped. Starting to look really interesting
Yea CAP how about? Golly gosh Argentina is about to default on its debts and raid the retirement cookie jar.
hate to disappoint, those fuckers default every 7 to 10 years. In fact it’s written in their constitution that they have to default at least once a decade and steal money from each other and north of the border.
————-
Todays fall is being attributed to the recession.
Show of hands.
which of you dumb fucks didn’t know there was a recession coming over the past three months. Fess up.
Donny buys DIG at 29.20
This decline is a puppy. Quit bitching and moaning.
CAP – can you post something in the PG on the implications of synthetic CDO market for stocks? Interesting.
Financials just might help the the nose bleed today…
Hey fly, the market ALWAYS goes up in an election year too. How’s that working for ya? BTW, the economy is not going to recover in 6 months so you better reset your time machine. Odd no?
4% a day, doesn’t hurt a bit. we’re like frogs sitting in a pot of water that gets warmer and warmer, until…..
You are still down in AAPL.
Shut up.
Fly is delirious from repeatedly taking mother market’s boot to the face this crisp october morning.
Market Gods don’t like Faber, Fleck, Hussman, Buffett, Fly, Rithole, and other righteous dudes calling a bottom simultaneously, methinks. They aren’t gonna be so predictable.
If history is any guide, which is all we really know, then I tend to lean towards a version of the “FLY recovery”…just not textbook.
Economy recovery in 6 months, probably not….market recovery, most likely….
Yea Dog.
You’re doing a lot of talking for a dude owning a stock that’s up from yesterday…. a lot of talking…. And by the way what part of the recession hasn’t been discounted in the price mr. Texan hedger?
Ok, I will now begin to nibble, down 365.
I told Al he should have thanked that frog for his Oscar and the Nobel.
Homies (homebuilders not Barney Frank) bouncing nicely.
Come on, quit crying in your latte. The market is fun. Where else can you lose it all in one day?
Ask DEvilDog.
The market is down 4% and he is getting the shit kicked out of him short AAPL.
This is fun.
Come on AAPL come back down to T Moe. Daddy needs a new pair of Bruno’s
What tasty morsel are you nibbling at FLY?
I have hunger pains….
j, it’s a greater great depression coming. Which I’ve warned of for a very long time. Why don’t you go long and leave me alone. I’m busy making a lot of money.
When I get ath raped, my hair ith aflame, in a gentlemanly way.
My SNDK position is squealing like a little girl – owwww. Not fun.
Why is going to be a greater greater depression dog.
What is so different about this one to 90?
fly, I’m down in AAPL? Wrong! BTW, check out my SDP as it is going to sky rocket again.
Fly – I think we are goin’ down.
Time to study up on the boyz at the top.
http://www.zshare.net/audio/50183617fdabb0bb/
http://www.zshare.net/audio/50183561f1943153/
http://www.zshare.net/audio/50183595aca5c30d/
*all on blog
j, as the fly would say because I said so. I’m a super brain.
USO short is yummay, though.
Dog:
More like an anti brain. Look you picked the market direction going down. But you also shorted one of the strongest stocks in the tech sector. That ain’t too super brained , Chump.
Yo Fly, are you doubling down on NOV?
I might start a position on it…
No need to buy equities, Hank Paulson will buy them all wiff his huge booty.
Bought NOV and FCX on the open. Holding MOS. I think it is safe to buy this dip.
FLY,
What do you think of DRR? To late.
I never double down. I nibble, like a rat in a box made from bananas.
There’s always a bull market somewhere…take a look at my checking account
I feel so much more confident averaging in long this morning seeing all you “end of world…it’s different this time” peeps….
Watch not only the financials “right their ship” in the coming weeks but also the home builders…yes…the builders…
ACI, UYG, NOV and MOS are on my nibble list.
Today I am buying especially small: 250 share lots.
The homie etf ITB (not XHB-it sucks with HD,etc.) is now unchanged. Just a note for daytrades.
Earnings are still coming in strong. Unemployment is tame. Idiots who took on too much debt are in trouble, but that’s a good thing – it means that rationality is going to return. I don’t buy this great depression bullshit. Assholes like Prechter have been talking about this shit for 20+ years, and every time the market drops they come out of the woodwork.
The market may have another 20% on the downside. I hope it does. If I can pick up Cisco at a single digit P/E, I’ll be buying with both hands like a motherfucker.
Denninger out with stark reality, as usual … getting starker & grimmer by the day. Fucker has been right all along.
http://market-ticker.denninger.net/archives/622-Fiscal-Cat-5-Hurricane-Warning.html
the fly lost my business for his PPT. and devildog is lame, he doesn’t have aaple shorted since he has no money. He is a 20 something living in mom’s and pop’s basement.
Screw you all, I will read Slope. At least Tim knows what to do in this market.
Depressions take time develop, like a fine wine. Quit pissing in your pants already.
Some of you people make me sick.
Off to Dunkin’, disguise and all.
Hate to say it Fly, but I think we’re goin down from here. Check out puts to go with longs – most of the upside, mostly none of the downside.
TraderCaddy,
HD has actually held up well during some really big down days…today not so well…if you believe the builders will hold strong then HD should as well I believe…long term…
Hey Thunderpup,
Yeah, the Market never gets it wrong…HA!
When you know you are right, instead of just thinking it, fear is never on the menu—just prey.
Just added more CSCO down here and almost hope to see it fall more so I can buy more.
I also just started a small pair trade. Long the Dow (DIA) and short the small cap 600 (SBB). If funding is really as hard to come by as most are saying the small caps will suffer most.
MOS is in the I.C.U. this morning…even with a “strong buy” rating upgrade and $60 Target.
This is not orderly selling, either, IMHO.
Orderly….Monday was orderly. This is a mish-mosh sell off of high quality equities.
You know, the equities where the “problems with the economy” were already “priced in” (according to wise sages at CNBC and their talking head guests)
MOS needs an AED so it can be shocked back into life….who is the schmuck that dumps a few million shares at the open the last few days, anyway?
could we see another mid day rally?
NOV down 14%.WTF Just bought more.NOV should have a strong earnings report tomorrow.
Damon:
Anything less than 7% is orderly.
It’s a new world, embrace it.
I just went down the block to Dunkin’,but out of nowhere, I saw The Great Depression coming. So I ran away.
I am going to try again.
Wish me luck.
ALLPROz- I agree re: HD but my time horizon is between 5 minutes and three hours. The real homies etf (ITB) is pure homebuilders and tends to out perform XHB etf when it come strictly to the homies.
Dicks Arms have gone positive on the market.
Technical Analysis
The Long Side Is the Right Side
By Dick Arms
RealMoney.com Contributor
10/22/2008 9:07 AM EDT
URL: http://www.thestreet.com/p/rmoney/technicalanalysis/10443614.html
So far, the market seems to be acting much as one would expect after a violent capitulation, such as we saw just eight trading days ago. Trading ranges continue to be large, but lessening, as the big move is digested. Volume is lighter, as would also be expected.
It is following the pattern of a typical climax low, then a sign of strength, followed by a pullback on lighter trading. From here, we would typically see a number of weeks to the upside, and then the secondary test a month or more down the road.
Looking at the first chart below, we see that the two lines that make up the moving average convergence/divergence (MACD) across the top of the display are nearing a positive crossover. This continues to look like a turn to the upside, which will eventually go much further.
The second chart shows the five-day and 10-day Arms Indices moving averages. Both continue to be very oversold, even though we have seen a good deal of rallying since the low. They, too, are suggesting an up market in the offing. The long side of the market looks like the place to be.
So I have been watching the exchange between DDog and Fly regarding AAPL since yesterday, I bought this, I shorted this yada yada so I thought I would join in. Bought AAPL at 91, almost had heart attack when halted sold at 103, shorted 103 covered 99.5. See you can have your cake and eat it too. Now go fuck yourselves.
Best Regards
TraderCaddy….yeah but the ITB has VERY light volume…
it scares me like the FLY is frightened of the Great Doughnut Depression…
Dang. DD’s aaple short went green. Congrats DD. you gonna cover and exit or hold that somebitch?
j, you’re a follow the herd type of cow. I’m a DEVILDOG and my AAPL shorts will do just fine. AAPL to $46.
This little company has crushed every quarter since coming public a year ago. Revenues up 84% Y/Y; turned proftiable this quarter (one quarter ahead of previous guidance); $95 million cash with no debt; and they have a wonderful “working capital lite” business model, but nobody gives a shit.
http://biz.yahoo.com/bw/081021/20081021006434.html?.v=1
Well aren’t you the new Paul tudor Jones La Merde!…Lets try a prediction before it happens…piker
what specifically makes this honerable?
BOOMER, thanks. I’m holding till $46.
honerable mention Says:
what specifically makes this honerable?
It’s wearing a top hat.
Warm up the rally monkey. We’re going to finish green today. Eye No.
Top Hats aren’t honorable, they’re fancy. Like your slippers.
Glad I didn’t buy Monday. Have many small low limit orders in now.
http://inventorspot.com/articles/picop_18826
contracts…………..
accumulate lottery tix now
We’re going lower because of the European markets. Those Europeans markets trade like pussies. All those tiny balls fuckers in London. Watch the FTSE. If it closes down from here, we’re fucked. Our market just follows theirs. Pull a chart of the FTSE from yesterday and compare it to our markets. Nearly identical.
Honest question here, does FCX really deserve to be at this level?
Cap
So er the the largest stock market in the world, The US takes its queue from a bunch of limeys with bad teeth. dude.
Good morning all, back from a.m. sniping. I see half of my DUG sold @ $51, nice 12% gain, hope you all are doing okay. Also added UYG @ $9.75
MOS as well-
P/C ratio spiking … bullish
I’m getting my teeth kicked in this morning. Must…resist…urge…to…go…egregiously…short….
The US Market trades like Europe’s FTSE…..until it doesn’t
This market is on life support.
Time to take 2 months off and GTFO to the hawaiian surf, honourable fuckers.
Tell me to shut the fuck up!
That’s nothing. Wally and the Beav brought a dog into the house. Wait until Ward and June find out. The shit will hit the fan.
The boys need to get Eddie Haskell over to the house to make up one of his bullshit stories.
I was going to rub a cheese grater across my face but I watch this video instead
http://www.youtube.com/watch?v=wI7ySujGqjk
Fly,
This recession will last into 2010-2011 and will be categerized as a depression in hindsight. The market will test 2003 lows(DJ-30 7500) before the end of the year.. Looking forward to your “holy shit” post in the coming weeks.
Fly,
This recession will last into 2010-2011 and will be categorized as a depression in hindsight. The market will test 2003 lows(DJ-30 7500) before the end of the year.. Looking forward to your “holy shit” post in the coming weeks.
We heard you the first time.
White Squall – Go fuck a candle
If there’s anything I’ve learned over the past 2 months, it’s that this market does the opposite of what my first instincts tell me. Therefore, instead of buying a box of SKF (as I have been wanting to since market open), I bought a box of DIG to add to my long portfolio.
One of Beaver’s friend is named Whitey (Whitney). Probably wouldn’t work in today’s sitcoms.
“ouch! Ouuucchhh! Stop biting me!”
FLY,
what do you think of DRR..The Euro is falling apart.
Bought UYG @ 9.75
Spank that rally monkey. Or spank you own monkey if you’re feeling the urge. Douse that monkey’s balls with hot water. Hand that monkey a banana. Warm his sorry butt up. He needs to perform this afternoon. We’re going to finish green. Eye No.
Sold QLD 32.5 +0.2%…waste of time.
Open orders filled while I was distracted having a mattress set delivered: EXM: $12; C: $13.5; GCI: $9.95
———————————————————–
BTW, anybody needing a – 40% trader’s deal on new mattress set from ‘W’ hotels. W hotel store. Enter employee discount code: WH4X5
Speaking of balls. Did anybody see the Dirty Jobs show on Discovery last night? The guy was castrating lambs and they bite the sacks and take out the nuts that way as its faster.
TC, great lunchtime story.
If the action in NOV does not prove that any longs are in fact de-generate gamblers….then I don’t know what will. So pretty much Fly’s average cost has gotta be $28, which means he is getting smoked…
Thanksgiving, smoked turkey… mmmmm