Motherless whore.
I don’t want to discuss my day. Just know it was fucking spawned by the devil himself, with longs fucked in murder holes, while shorts sprinting higher to God.
My current blend of long/shorts is NOT working. I need to rejigger my holdings, early next week.
I upped my holdings in [[FXP]] , late in the day and BAM: Holy Shit, I got my face ripped off. All I know, every fucking time that cock sucker prints a 7 handle, it becomes an atm machine for me.
I will be buying that bastard, come Monday.
I can go on and on, about how idiotic BE Aerospace, Inc. [[BEAV]] , American Vanguard Corp. [[AVD]] and [[UYG]] behaved, in the face of this circle jerk; but why bother?
I was nailed down for more than 4% and feel little confidence in my current positions.
Off to drink myself stupid.
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“Off to drink myself stupid.”
good plan … cheers!
If FXI goes up 50% from here, FXP could go to zero.
Odd no ?
I did sell some FXP Nov 80 puts between $10-12. Might make a few bucks.
At least we know the FLY is part human….now give that time machine a good kick start………
Good god, you guys are crazy trading FXP sonofabitch.
That little redhead options chick behind Maria Fartaroma would look better with my balls on her chin.
The FXP and EEV were unkind today.
Worse the governments of the world will conspire to create the greatest welfare program of all time… because that is how weak minded we’ve become as a species.
I will drink heavily today as well.
catch a bid over the weekend, BEAV will
Cap are you retarded…why take that level of risk writing naked puts when you could buy calls instead regardless of premium, delta and all the other shit you might come up with???
The whole reason for BEAV was your little union catalyst, and that was gone on Monday.
Fly,
Would this be a bad time to ask a question about fractals?
The fractal on FXP targets 42.37.
I puked up my short on HK today, and I won’t even get into details on BEAV.
The HK longs are religious in conviction, and all the analysts have a 5 star rating on that pig.
The Boeing 787 is c-ckblocked for now, from what I can ascertain.
This market wants to go up, and I don’t want to get another ball-shaving on Monday.
Cheers! (already drink heavily)
“FXP targets 42.37?”
Lucy, you got some splainin’ to dooooo.
i had some texas hedges on as well today.
ugly
I drink your milkshake.
Despite all the self congratulation about completing payments for terminated CDS ($5+ Billion for Lehmann, $7+ Billion for the Icelandic banks and so on ) without a catastrophe, the bigger story is the financial black hole all the margin calls are creating in the capital markets to keep that load of crap afloat: Almost $400 Billion worth reported for the month of October alone.
In all the time I’ve been coming to this site, I think this is the first time I’ve had a better day than the Fly. I did nothing.
This market is a motherless whore with a bad attitude and a case of syphillis and I’m not going near it.
This Market is a killing field.
That late run to S&P 930 smells like a trap.
wrt, BEAV (and I don’t own it)…
…the chart actually looks enticing right here. imo
————-
3 consecutive lower HIGHS & LOWS…short-term O/S…Hammer candlestick printed today…this recent pull-back was on relatively Low Volume…all of these things I would consider to be positive ! fwiw
Bottom Line…In this chartmonkey’s view…I’d look to be a “buyer of BEAV” here !
All in my humble opinion !
.
If you call hitting the stops on weak shorts a trap.
Some might think of it as routine.
If the market could rally today in the face of disgraceful job numbers, what’s to stop it from rallying Monday on no news? A few more countries lowered rates hoping to stop the bleeding. That Thanksgiving rally you talked about may actually come to fuition. I have a sneaking suspiscion FXP may go to the $60s short term.
Folks, do you not all see and feel the ebb and flow of the tide changing? This bottoming “process” which FLY’s gut keeps bringing him back long should have you thinking super duper macro………..
Well said on CDS, bailout lover. And default rates are still below the historical norm (that won’t last long). Recession level defaults will mean plenty of stress to the system and margins will continue to sponge up liquidity. But if a whale like Ford or GM trips a credit event, all hell will break loose. But even worse is the CDS on CDO, ABS and RMBS. Jesus himself couldn’t value these and they are all over the books of banks, insurers and monolines. But it’s impossible to determine how much is really out there. DTCC’s happy horseshit figures on net derivatives exposure doesn’t include these (and DTCC doesn’t settle more than 40% of even the vanilla CDS, most likely). Yeah, a centralized CDS platform is an OK idea, but what will the margin be? And how do you get from here to there? Major shit sandwich potential.
This is the reason the market is going up.
No other.
_____
D-Dawg’s parents help get him “over the hump.”
Serious laffs.
_________
I screwed the pooch today – let the market psyche me out with it’s schizo Obama reaction. Live and learn.
ALL…ALL of the major Indices…
$NYA – NYSE Comp.
$INDU – Dow 30
$SPX.X – S&P 500
$COMPX – Nasdaq Comp.
…printed an “Inside Day” today !!! fwiw
————————–
These “Inside Days” can (and often do) portend explosive moves…Price Expansion…Wide Range Trend Days !
Now…and this is the tricky part…the “explosion” can be to the UPSIDE…OR…DOWNSIDE !
Monday should be interesting !
.
alf, I suggest you assume the fetal position on Monday. Your analysis is flawed and irrelevant. The Market is going back down.
There is nothing gayer than a bunch of anonymous commenters making bold calls like “book it – the market goes down on monday” or “we gap up 500 tuesday.” Bunch of freaking homos.
“Now…and this is the tricky part…the “explosion” can be to the UPSIDE…OR…DOWNSIDE !”
———————————–
Was there something about that sentence that you are unable to comprehend ?
.
I was fucking fiscally molested today, and I am seething as a result. FXP was more of a log chipper than an ATM, on today’s tape. Ay chihuahua!
alf44, I think the sentence was very clear, yet ambiguous.
Basically, you are saying the market could go up or down.
Be careful making such a strong stand.
alf, the flaw lies in the word “upside”
jog on
Sniper6,
In the words of Bill Clinton,
“Ah FEEEL your PAYYYNE.
(Ah did NAHT say STAHP, Monica.)”
Hoping for a melamine alert on Monday.
woodie…what “stand” did I make ?
What I SAID was that Price Contraction (ie. Inside Days etc…) portend Price Expansion !!!
Price Expansion often equates to explosive Trend Days !
Obviously, “Trend Days” can be UP…OR…DOWN !
THAT’S what I said !
.
These fuckheads at the close have been contrary indicators lately.
Hello Fly,
It sounds like you are trying to manage too many positions at once. Perhaps taking a step back to look things over might help.
Cheers!
Yen is itching to go higher against AUD, USD and – I’m guessing we’re setting up for one more nasty round of carry trade unwind – Fukio “housewife” Fukura blows out Joe “Dickhead” Hedge fund. Then we go higher.
printed the ‘bottom’ of the right shoulder of inverse head and shoulders yesterday. up from here. buy green burritos, tech and healthcare. i suspect devildog will capitulate and cover well north of sp1000.
I clipped a nice 21% gain in SRS. Thanks again FLY.
I agree we are making lower highs. Listen folks, 20% of all US house holds are under water house value wise and we still have a water shed of ALT A’s coming due.
This notion of zero interest rates world wide is an absolute joke. Becarful what you wish for. Governments world wide are tring so hard to prop up economies that ultimatily they will destablize their currency.
in other words the worst is yet to come. In fact Im looking at unemployment at +10%.
$USD overbought
http://images.google.com/imgres?imgurl=http://www.bergenjerseyforeclosures.com/blog/info/resource/nonPrimeLoansAsPercentageOfTotalHousingUnits.gif&imgrefurl=http://www.bergenjerseyforeclosures.com/blog/info/entry/new_subprime_maps&h=725&w=500&sz=48&hl=en&start=4&um=1&usg=__GoXzEimif5qi61sEKq2SvpJ0CNg=&tbnid=UUqAdO8aR7d4kM:&tbnh=140&tbnw=97&prev=/images%3Fq%3Dalt%2BA%2Bloans%26um%3D1%26hl%3Den%26rlz%3D1T4GGIK_enUS280US280%26sa%3DN
I stumbled across this interactive chart on foreclosures check it out.
My Orange County friends, what the heck??
______
as soon as obama takes down the statue of liberty and replaces it with a statue of aunt jamima holding a plate of pancakes you will always be able to get something to eat here in the U.S. for free when you have no money left
not to worry Says:
as soon as obama takes down the statue of liberty and replaces it with a statue of aunt jamima holding a plate of pancakes you will always be able to get something to eat here in the U.S. for free when you have no money left
November 7th, 2008 at 7:32 pm
Holy shit I just caughed beer through my nose.
Thats some funny SHIT>!!! TY
Im still laughing !!!!!!!
hi
This market is ridiculous. Look at the last hour of trading.. more random price action. I’m glad I’m in cash.
AIG has moved up their report to pre-open Monday.
They have so much marked to model and on bid lists awaiting action that they need a comic book sci fi writer to sign off on their quarterly instead of an accountant.
I know we’re not suppose to discuss politics, but my God, I can’t help myself.
I’m gonna say it right now, this arrogant ass is gonna be a continues gift for the GOP! Wait and see.
From Politico:
Obama apologizes to Nancy Reagan for ‘careless’ joke
President-elect Barack Obama called Nancy Reagan this afternoon to apologize for a joke about her having held “séances” in the White House, an Obama aide said.
“President-elect Barack Obama called Nancy Reagan today to apologize for the careless and off handed remark he made during today’s press conference,” said transition spokeswoman Stephanie Cutter. “The President-elect expressed his admiration and affection for Mrs. Reagan that so many Americans share and they had a warm conversation.”
Obama was asked at his press conference today if he’d spoken to all the “living” presidents.
“I have spoken to all of them who are living,” he responded. “I didn’t want to get into a Nancy Reagan thing about doing any séances.”
He was apparently confusing stories about Reagan’s consulting with an astrologer with those about other First Ladies — from Mary Todd Lincoln to Hillary Clinton — who tried to make contact with figures from the past.
Nobody Cares
Donny: Seriously? That’s the best the Republican talk-show hosts can come up with. How the fuck did Republicans win the last two terms, this is abject incompetence when it comes to character attacks.
Jake-
It’s getting real bad in The OC. Mainly because too many asshats have spent way beyond their means to buy egregious shit they didn’t need. It was all this home equity extraction.
Orange County is … (scratch that) … WAS the subprime capital of the world. It started right here. Home of New Century and Ameriquest, as well as several others. We had hundreds of mortgage brokers pocketing $200,000 plus a year … many are now working cell phone kiosk desk at local malls.
The Opera closing is just a sign of the times.
so i herd you liek mudkips-
I’m no apologist for the gawd damned Republicans. I’m disgusted by them, and didn’t vote for one of them of Tuesday. I just hate the Democrats more.
BTW, “Ah, Ah, Ah, Ah, Ah, Ah, Ah, Ah” How about that performance?
bought a little SPWRA yesterday @closing @33.00 just 25 thought i would attempt to talk stock..it held its own today after a brutal beat down the last 2 days
it lost 30% in a day brutal ..
FXPers take hope:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUzk1Qc1r2aU&refer=home
More hope for those raped Temple Drake-style by FXP corn cobs:
http://blogs.cfr.org/setser/2008/11/06/how-severe-a-slump-in-china/
And from:
http://www.bloomberg.com/apps/news?pid=20601080&sid=aOH6tPsXkI1A
“China’s Finance Minister Xie Xuren was called back from an international economic conference in Peru before the meeting began, following orders from Beijing to help resolve problems at home, an organizer of the event said.
…
“They told him he has to resolve an economic problem and that he’s the only one who could do so,” de Swinnen said. “He was complaining because he had to fly 32 hours to get here and then he had to fly another 32 hours to get back.”
He could do worse than read this blog on the long journey home.
if it wasn’t for my long term holding of $EZCH…I would have been screwed today!!!
Also Bought more of the DEC MOS Calls today…
i kinda got hit over the head with a hammer the other day when FLY said as long as he held his skf he didnt care what his long positions did ..that 1 remark changed my whole outlook on playing in the market and going long ..so i think i will buy back my skf on a beat down if that happens and maybe some other inverses and go long on some other stuff for the future ..if you read this fly thanks
i might not have quoted FLY word for word but that was my interpretation of it and man what an attitude change for me
They have, what, a couple of billion people over there now and HE is the
“only one” who can “fix” China’s economic problems?
No wonder this is the most memorable achievement of their greatest military leader, General Zhao.
http://farm2.static.flickr.com/1436/861848261_5cc8f17c2f.jpg?v=0
I am deep in the FXP and appreciate the encouraging posts.
Off to dinner. Steak joint, definately not Chinese.
Any questions about China and or Chinese, just refer them to Boca.
She is apparently an expert on us because she has had business dealings with ‘the lying chinamen’ and can stereotype the entire race as ‘not to be trusted’.
Of all the fucktards who post here, Boca seems the least likely to be a bigot.
But “they” do poison our baby formula and puppy chow, you know.
So until FXP hits $120, I declare war on the ChiComs!
NBC is run by an asshole who hasn’t had a hit since he stopped blowing
Jerry Seinfeld, btw.
True story.
Whaa? Why boca? I da expelt heah on China. I no lie to Amelicans. I tell troof, awe da tine.
That’s offensive as hell, Limm.
Until FXP prints $120, keep it up!!!
Steak time.
Anton–go and mahrch in a Ploposition 8 palade, gay boy.
His Excellency Obama called himself a mutt. Very presidential, no?
Hey Ants, what’s a true a story?
NBC is run by an asshole who hasn’t had a hit since he stopped blowing
Jerry Seinfeld, btw.
the head is an asshole
hasn’t had a hit
or was blowing Gerry?
Amen, Slapshot.
Those are all important points and 100% correct.
The CDS market is a roach motel, Hotel California all over again. No problem checking in, but good luck checking out.
how many shares of BEAV you bot from kidfly on mon & tues
you all are. lemme ask, do any of you have any knowledge of what may happen, regardless of party? douchebags, all. none of you have a clue. shut your political mouths and try to trade it. i’ll gladly take yo dollas, which were never yours to begin with. hand em over. starting w/you ddouche.
Hurricane Paloma kicking some ass!
A November hurricane??
Where is ‘Veritas5’, weatherman extraordinaire, when you need him?!?!
Westurn Union – http://www.youtube.com/watch?v=Fd4hT0GevLM
FXP may work if you catch it right but China has put it its bottom for at least 6 months. If there’s a bottom retest, FXP will print serious coin, however I think FXI will see 35-40 by spring and FXP maybe 40, who knows with those fucktarded 2ble ultra reverse inverse etf’s.
My March-April targets for some foreign etf’s.
RSX 30-35
INP 45-50
EEM 35
EWZ 50-60
When January rolls around, there is gonna be a serious global Obamy rally. The world is gonna price peace & prosperity under the first King of the NWO. Don’t get in front of that.
Juice knows what time it is 🙂
Juice…
China is at 7% growth. That number is currently decreasing…not increasing. How do you figure they are good for the next six months?
The market is a slot machine being manulipulated by the FED [soon to be BIG BROTHER]. So don’t feel bad if you fuck up. Use risk management like you are playing poker or hedge until some kind of a trend comes along. Puts and calls are great for the poker play. If you think you know whats going to happen [think again sucker]. Uncle sam and the banks need your money. A trend will come in time. You can only manulipulate the market form 10days to 3weeks. Thats the DOW theory. If you want to try to be smart. I am just a lucky bumb fucker with 100% cash in a very large account.
That was dumb fucker.
Hard Landing In China?-
Nouriel Roubini
http://www.forbes.com/opinions/2008/11/05/china-recession-roubini-oped-cx_nr_1106roubini.html
Pete – just guessing .. going by charts & other variations of assortments of deviations of voodoo & occultery
btw, news is best at tops & worst at bottoms … news is a pretty steady dismal … not saying this is THE bottom but we are so close to an ‘intermediate’ bottom .. when the rally does come, and it WILL come , by January, the move will tear the eyebrows off those betting against it
The Chicoms will soon be dropping money from helicopters into the rice fields to stimulate their slowing (cough cough) 6% GDP economy.
Who will be buying US debt?
http://www.youtube.com/watch?v=cGqroT1FZ5Y
(Bloomberg) — Asia’s leaders, led by an ascendant China, say they hope Barack Obama didn’t really mean those campaign promises to protect American trade. And if he did, they are in better shape to object than ever before.
To Asian ears, Obama’s calls for tougher labor and environmental rules and steps to reduce the U.S. trade deficit sound like thinly veiled protectionism, just as a global financial crisis makes exports more crucial than ever.
http://www.bloomberg.com/apps/news?pid=20601080&sid=aDt4u9Q4AAEA&refer=asia
The dirty Chicoms perverted both capitalism and communism and created a corrupt hybrid that requires even more state violence and exploitation to sustain than either system on its own.
The only play there is contrarian – find a newspaper or a site this weekend that says anything other than that China is completely fucked.
That said, their government must have been fucking around on the NYSE with FXP/EEV yesterday – I don’t know how else to explain it. And they sure have a few US$ to do that with…
Any other theories?
(full disclosure: long FXP and Chicom party officials suck big hairy rat anus)
OK, here’s one: big stimulus a-comin’. Maybe. Size unknown. And death to all if global growth hits zero:
http://www.marketwatch.com/news/story/China-said-preparing-stimulus-package/story.aspx?guid=%7B5ABAA3A7%2DF385%2D4CF7%2DAD45%2D4DD4BAF1A6B1%7D
Last night was tough but I banked some serious coin.
Good Trading day
Just read “The Panic of 1907” to get a perspective of what we have to look forward to:
http://www.amazon.com/Panic-1907-Lessons-Learned-Markets/dp/047015263
For those of you who prefer the audio version — the author on NPR 8/28/07:
http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=14004846&m=14004811
And who is gonna play the part of J.P. Morgan? Warren Buffet?
Don’t think so.
Wally:
You are correct. We are SCREWED.