It’s rather fitting, isn’t it? Immediately following my end of the world “C You Later” post, the market ripped higher.
Before I go over my day, understand, the trades that I made today are not representative of my macro feelings on the economy. Eventually, we’re screwed. However, it’s the fear of eating a 1,000 point rally that forces me to cover shorts and get long. Everything I bought today is a piece of shit. However, I must go long, in order to ride out this short squeeze. Being up 75% year to date is no accident.
“The Fly” is a stock market God.
Basically, I started selling my inverse etf’s during George Bush’s speech. I knew the market would not go lower, after recovering from a 300 point deficit. I also knew, people like to sell on Bush’s speeches. So, I used that weakness to sell [[REW]] , [[EEV]] , [[DUG]] and cover my Petrohawk Energy Corporation [[HK]] short.
Unfortunately, I kept my [[FXP]] position and was deballed for doing so. But, in order to take advantage of the squeeze, I hopped into my time machine and went long egregious amounts of [[UYM]] , [[ROM]] , National-Oilwell Varco, Inc. [[NOV]] and The Mosaic Company [[MOS]] .
The one thing that hurt was covering that HK short, after adding to it intra-day. I ate an intra-day loss of 2 bucks, but made money from my initial cost basis.
Basically, the text book says we rally until Thanksgiving. However, do not expect another 600 point day. Milk the rally as best as you can; but turn on it when it looks best.
At the close, I still have very minor positions in [[DUG]] , [[EEV]] and [[SDS]] . And, I own a decent amount of [[FXP]] . Overall, I am 65% long, 15% short and 20% in cash.
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Fun day, bought some MU down at lows.
You are the man Fly…….thanks for the knowledge!
You are the man Fly…….thanks for the knowledge!
Shit. Was that the bottom ? I was hiding in my bomb shelter all day long. In all seriousness I sold a fuck load of SKF SRS REW QID SDS SMN calls and was scared to look at my screen for the last 3 hours of trading.
Lots of Sinatra in the next couple of weeks.
FXP is a turd. FXP is back to levels not seen since May. Hong Kong is 50% of where it was in May. FXP will be in the 30’s before long.
I guess when every Joe Schmo trader goes long every time one these douchebag rallies occurs — it just prolongs the inevitable.
Everybody thinks they can go long and flip the bear market rally.
Now watch this shit gap down 200 points — only people long now are people hoping their tight stops don’t get hit.
short SKF and long FXI
Hope we open higher tomorrow!!!
I called the whole freakin day wrong and still made money. I’m sitting tight with calls and puts and not trading tomorrow at all.
u owe timmy an asshat apology
Go double Long FXI and 1/2 long FXP and you have a nice pairs trade. FXP tracks the VIX better than anything else.
I sold out of half my EEV at 100 and the other half at 96 after buying it at $86. I had a feeling it was going to blow today after Tim on Fast Money made it his final trade last night. That guy may just be worse than Cramer.
Look at the double top in SKF.
Beauty
If you thought your day sucked, how’d you like to be the Moscow margin clerk who had to call the Russian mafia to wire $2.5 Billion before close of business today?
If you can’t wait for the turn
Long FXP will burn.
The mythical “Fly” is God!
I no longer consult my Bloomberg, CNBC, Barrons, S&P,Goldman et al.
Just IBC.
p.s. Can you get Jim Simmons a tab?
FXP is not same anymore.I am glad I got out at 83, paid 75 yesterday. Next time it will be SKF or SRS.
Losing or breakeven FLY is so much more humble, kind and gentle than the winning FLY who is obnoxious and insulting.
Observe that mighty maggot.
FLY AND ALL:
I lucked out today because I did the honorable thing and bought stock.
The Wall Street gods have given losers like me a new tool – 3x ETF’s.
TNA – 3x Russell 2000
BGU – 3x Russell 1000
I bought both in size because I believe that honorable americans buy worthless stock from their neighbors with the expectation that your neighbor will “pay it forward” and buy the stock back at a higher price.
In short the FLY should have put on the Titanic trade today as we hit new lows.
Carry on!
Ass napkin Mike – can you please repost how to make an ass napkin? I need one.
I was stuck in a ^$%#$$#% meeting and just got out to see the carnage in my hedges.
They’re hedges.
OK?
Hedges…
^%$$%^**&
March higher through Turkey Day?
I don’t know Fly. Massively # of put options outstanding on SPY right where we closed today. With expiration just 6 days away, it’s going to be hard to make much progress from this point. If we can break free from 910, and that’s going to be tough, they might be able to push it to 970. At 970 though, you run into another massive wall of puts.
Reversals Galore!
There’s a lot to cover, and I’ll try to do it as succinctly as possible. After the close last night, Intel preannounced a massive sequential decline of 10-15% ($1 billion, plus or minus) in its revenue projections. In addition, National Semiconductor preannounced negative results. Meanwhile, Applied Materials announced that it would be laying off 10% of its workforce. That troika of bad news initially pressured the futures market.
Most of Asia was weaker last night. But I thought it was interesting that China was up 4% last — making it three nights in a row that China has shrugged off the bad news elsewhere. I am in no way suggesting that the bad news is behind us. But it seems to me that China has one of the better hands to play from a stimulating-its-economy standpoint, given the size of its foreign-reserves war chest. (Not that it has necessarily been dipping into it, but I will be keeping my eye on China as the potential canary in the coalmine.)
By the time New York opened, the stability in Europe appeared to help our futures stabilize. All the indices opened slightly higher. We immediately plunged into the red, but about an hour into the day were back to the day’s initial highs, with all three of the offending semiconductor companies I just mentioned trading positively on the day.
For those looking for a sustainable rally, that was bad news — because once again, we were close to the point where a panic might create enough of a washout to produce a sustainable rally. But the gains soon evaporated, and by midday the market was tanking hard again, down by about 4%. However, that was the low for the session. Using the S&P as an example, the market rallied about 7% in the next 90 minutes and was then 3% higher on the day. From there we backed off, ran aggressively higher again, and closed on the highs, up approximately 7% on the day.
Of the “Old Low” They Crow
I’m sure folks will argue that given the fact that we had the midday breakdown and the market was unable to follow through, this was a successful test of the “old” low. Whether that’s the case, I don’t know. (But I’m sympathetic to that idea, for now, as I have only one short left.) On the one hand, it was impressive that the market was stable early on, even though an early washout would have perhaps produced a clearer roadmap. But regardless of whether this is a reversal that lasts for a while, folks need to know, as I was pointing out the other day, that trying to trade from the long side in a bear market is treacherous, even though some of the biggest rallies of all time occur in bear markets.
Away from stocks saw reversals galore, which I think could be extremely significant (though that is pure guesswork). Oil was lower by a few percent, but closeed higher by 5%. The dollar was both higher and lower, before declining rather sharply in New York, and a case could be made that the euro has successfully tested its low. Treasurys, after having been higher as stocks plunged, reversed and were lower. The long bond was particularly weak after a terrible 30-year auction that saw both a long tail and poor bid-to-cover ratio. I point that out because for those of us looking for a potential funding crisis, I am searching for clues as to when that might begin.
Lastly, precious metals were very weak at midday, with silver down another 9% (!) and gold down about 3%. Then they turned around. Gold experienced a 5% rally in a short space of time, to turn positive for the second time on the day, and managed to close up 2%-plus. Silver made it back to flat on the day.
On those lows, I happened to be speaking to a dealer friend of mine at one of the major bullion banks in the world. He expressed the view that the physical demand was just extraordinary lately, and especially today. I think there’s some chance that the lows have been seen for the metals, though given the volatility, it’s hard to really make that claim with any conviction. But if that is the case, it would seem that gold stocks have made their lows as well, with many not even getting close to the lows from October. (I added to my gold stocks today.)
I keep getting questions as to how gold, the dollar or Treasurys can trade where they do, as well as various related questions as to why XYZ stock doesn’t go down when it should, or why ABC doesn’t go up when it should. Folks need to keep in mind that these are markets, and they can trade wherever they want to.
We had just come through a decade-plus where the Fed intervened “successfully” enough so that folks came to look upon the stock market (and then the real-estate market) as pet kittens that spit out hundred-thousand-dollar bills. Markets are not like that at all. They are more like savage beasts looking to rip your head off.
Getting Richer Is Harder
And, they often behave perversely. For instance, one might think that a country such as Kuwait, with its massive oil reserves and ability to generate money, wouldn’t have to close its market — as it did last night. I can cite countless other examples. But the era of “pet markets” that make people rich is definitely behind us. Which is not to say that folks can’t get rich via the markets. I don’t mean to imply that. What I mean is that it’s a lot harder than it’s looked over the last couple decades.
It seems that even the folks at Bubblevision are beginning to get it. I say that because I’ve watched a bit more as I’ve gotten up earlier in the morning to prepare for the day. I’ve seen a few guests at those extra-early hours who have been thoughtful. Today I was fortunate enough to see my good friend Jim Grant, Jim Chanos, and the most intelligent politician I have ever heard (who I’d been unfamiliar with), that being Mark Sanford, the governor of South Carolina.
He made the same point as have those of us remaining capitalists — that letting the markets work without interference actually works. Interfering with the markets was one thing Greenspan and Company were always doing, and one of the reasons why we have had this tremendous edifice of debt and speculation topple over on us.
In any case, Governor Sanford noted that South Carolina has a vibrant auto industry, and that Alabama has a vibrant steel business, simply because capitalism works. Doing things like bailing out General Motors gets in the way of that. Had the steel industry been propped up, perhaps there wouldn’t be the good jobs there are now in Alabama, producing steel. One can only hope that his voice is heard prospectively, as the political crew in Washington, D.C. is so terribly clueless.
Empathy for Treasury
Unfortunately, our Treasury Secretary is sort of in that camp. However, I am willing to give him some leeway, as he is caught between two crises (and I’m glad he is at least flexible), the financial and the economic. (It will fall to the next Treasury Secretary to deal with the funding crisis.) Meantime, I thought I might share Justin Mamis’ comments regarding what I think is the current view of Paulson:
“So, another Secretary of the Treasury goes down in the history books as getting it all wrong, although Paulson will get extra paragraphs describing how he sensed he was going to botch things by inserting at the very outset a clause saying he couldn?t be criticized or accused or whatever his language was. The language now is bailing out the previous bail which bailed out the initial bail, while bringing out a multi-colored Tarp to cover over the previously ‘wrong’ black-and-white Tarp.
“Is there something in the Kool-Aid at GS that produces such ‘leaders’ who have trouble in the real world (Paulson, Corzine, Thain)? The market obviously didn’t take fondly to his what-should-we-call-it? back-handed admission. . . . There is no sense . . . of how the climate will feed on itself — out of work, can’t buy anything, store becomes empty, has to lay off employees, and so on.”
Apparently, it has now dawned on the Treasury Secretary that perhaps the bulk (as I keep noting, the part where people are actually worried about getting their money back) of the financial crisis, for now, is behind us — and the economic crisis has come crashing in. To return to my baseball metaphor: I still think we’re in the eighth inning of the financial crisis, but the economic crisis is no longer taking batting practice — as the game is under way. But the future funding-crisis “game” still goes unnoticed.
I am not declaring the Turkey Day rally is on. I am simply talking text book.
I don’t trust anything. So, I’ll take it day by day.
Basically, Fly, if you say you are upo 75% YTD I say you are FULL OF SHIT. You have been on the wrong side of every trade for a month, BEAS and FXP being egregious examples.
You and your sycophants EX POST FACTO switching long to short and vice versa is pathetic.
You are better than that, Fly, and you and your claque’s failure to make a decision and stick to it for at LEAST a while is egregious.
ERY – 52.30 ,-28.62 (-35.37%)holy $%$&%&!!!!!
I think it is fair to say that the proper place for textbooks lately is the library, or gathering dust on a shelf.
Bottom:
You’re fucking joking right? I mean, I can’t even defend myself,since your statement is so ludicrous I am chockful of laughter.
Get back to me when you learn how to fucking read.
You need to learn up on asset management. A position does not break a portfolio, improper risk management does. I post EVERYTHING in real time. Check the fucking time stamps.
It will not be off to the races … of course Asia will party like its 1999
don’t write off Shanghai … the real gunslingers are in Shanghai .. the risk takers … Hong Kong is full of British accented pussies who are followers, not leaders
Tony Crescenzi Blog
Shorts Cover Before G-20
By Tony Crescenzi
RealMoney.com Contributor
11/13/2008 3:01 PM EST
URL: http://www.thestreet.com/p/rmoney/tcrescenziblog/10447830.html
Tomorrow the Group of 20 meets in Washington to discuss the financial crisis, a prospect that could be leading to short-covering in advance of the meeting, as it is difficult to imagine the heads of state getting together on the worst financial crisis since the Depression and announcing only baby steps. One action might be to indicate that the establishment of a clearinghouse for credit default swaps is imminent.
Another step might be a new arm within the IMF and or World Bank whereby creditor nations such as Japan, China and the Middle East infuse new capital for investment in debtor countries or emerging markets countries in need of funds. This is an idea I have floated for some time now.
CNBC’s Steve Liesman just confirmed the possibility that creditor nations as early as this weekend will announce support of such an effort. The G-20 will almost certainly want to give the impression that broad and coordinated actions will be taken to combat the financial crisis.
I went all Costanza and shit on DIG yesterday between 3:29 and 3:32, feels good to get lucky every once and a while. My only bitch is I got out too soon. But booking a gain in a shity Market feels good.
I am not losing sleep over FXP at all just hoping it doesnt dive that much more.. will be watching the hng sng tonight while listening to cypress hill hits from the bong.
DevilDog will need Mike’s ass napkin after today. Daddy is gonna rip that 55 year old a new one. That fucker is even older than me.
The Fly banned DEVILDOG from the blog…the market banned DEVILDOG from investing. So sorry.
Thanks Juice 😉
Fly, I think you need to take this into account:
http://www.bloomberg.com/apps/news?pid=20601089&sid=abM29KiepBow&refer=china
on your FXP position.
No I don’t.
LFC will get mauled. CHL will get mauled. And, PTR will fall.
Long term, FXP works. Leg into it on weakness.
At the G20 shrimpfest, they are gonna try to devalue the USD & the JPY in an effort to support commodity prices & equities.
Emerging markets need higher commodity prices & the rest of the world needs higher equity prices. USD & JPY devaluation is a win/win proposition.
No doubt about it FXP is a complete scam of an ETF. No fucking way its down this much today. This thing is about 3 or 4:1 short. This is fucking bullshit. I hate to complain about a hedge when I am plenty net long but this hedge is a much more leveraged item than it says.
Is it just me or does anyone else think DUMBFUK is more annoying than DevilDog?
Long term FXP works, but then there’s the short term. Commodities/shipping lit up today.
Fly, in the unrequested advice from anonymous internuts, department; in all seriousness, find another investment vehicle; FXP will rest in peace till the spring.
Juice:
FXP will be no different than any other hedge. If the market trades up, FXP will go down. It’s that simple.
This market is only good for an 800-900 point rally. Tomorrow we crash.
It was all about testing the “Hogan Bottom”
Now that we’ve finally purged, we can binge.
It’s UP from here, girls.
Lots of Sinatra in the next couple of weeks.
I don’t have the time to go look up my quote, but I think I said “February.”
_______
Scum, wrong again.
_________
Update: Just found out my little bro bot SLW at $2.70 today while I was at a meeting.
He reads this so I have a message for him:
“Fucker.”
_________
Mucho Snaps to the Fly…
His trading has been spot on…especially with the ability to duck and cover when the flow shifts.
Apparently, some of the haters think that batting a thousand in this game is possible.
Top ranked stocks, technically, via PPT:
(Minimum average volume and market cap thresholds applied. Excludes ETFs)
No. Ticker Technicals Fundamentals Hybrid Score Hybrid Change
1 OCN 4.65 3 3.96 29.41%
2 EMS 4.55 4 4.32 18.36%
3 ALGT 4.5 2.75 3.77 23.61%
4 HOTT 4.35 3.2 3.86 30.41%
5 SHEN 4.35 3.85 4.14 31.01%
6 CIA 4.35 3.45 3.97 43.84%
7 PBCT 4.25 4.55 4.38 16.18%
8 INT 4.25 4.2 4.23 27.03%
9 PETS 4.15 4.3 4.22 27.11%
10 RAH 4.15 4.15 4.15 27.69%
Again?
Jakey thinks we’re going all the way back up to the top of the channel. LMAO!!
China is doomed to the third word level it randomly sprung from during the credit boom. Credit extended to the deepest, filthiest, darkest corners of the globe. Anything associated with “emerging” might as well have been called “subprime”.
These subprime nations will go the way of the subprime borrowers.
Stocks most up in Hybrid rank today:
No. Ticker Technicals Fundamentals Hybrid Score Hybrid Change
1 CFNL 3.25 2.8 3.07 77.46%
2 HUSA 3.1 2.55 2.87 77.16%
3 SD 2.4 4.45 3.26 75.27%
4 CXO 2.8 2.6 2.71 74.84%
5 LNG 2.25 1.95 2.13 73.17%
6 DYAX 2.55 1.95 2.3 64.29%
7 ALSK 2.7 2.65 2.68 61.45%
8 AXB 3.4 3.4 3.4 61.14%
9 MMS 2.7 2.8 2.75 58.96%
10 MBRK 2.6 2.75 2.67 58.93%
Top Ranked Sectors:
1 Cleaning Products 3.14 3.83 3.428 23.136%
2 Water Utilities 2.992 3.6 3.248 17.99%
3 Home Health Care 2.707 3.893 3.209 9.814%
4 Regional – Northeast Banks 2.68 3.785 3.145 20.376%
5 Waste Management 2.61 3.72 3.075 27.085%
Best Performing sectors today, by rank:
No. Industry Tech. Fund. Hybrid Hybrid Change
1 REIT – Office 2.086 3.25 2.577 27.089%
2 Waste Management 2.61 3.72 3.075 27.085%
3 Beverages – Brewers 2.15 4.15 2.99 25.845%
4 Long Distance Carriers 2.025 2.912 2.4 24.222%
5 Foreign Utilities 2.15 4.013 2.933 23.533%
Hey Bro. I tried to call you but they said you were taking a nap.
Fly, I see you are doing great things for the Earthlings. Assisting them in banking coin and teaching them how to write, etc. These are terrific accomplishments, but please don’t forget why we sent you to Earth. I’ll be visiting soon with Gort. Meet at the usual location.
Fly, your timing catch the wave is impeccable. however, do you actually make money? I ask b/c you got into those ultra short ETF in the last couple days and make egregious amount, but didn’t you lose a lot of them today? Those ultra ETFs drop a lot faster than they arise (due their mathematical calculations) , and two days gain were wiped out today.
CW:
I sold EEV above $100. I was buying in the 70s’-80’s.
I sold REW north of $133. I bought around 100.
I am down on FXP. I did not sell.
I sold DUG north of $43. I was buying in mid-30’s.
And, I loaded up on UYM in low 15’s, ROM in low 20’s and MOS and NOV 1-2 points lower.
You have to be quick.
“You have to be quick.”
Amen ra.
It must suck to have to buy equities you don’t believe in.
I recount Fly’s day below with his moment to moment commentary not to take cheap shots but to show in a condensed fashion how he reacted to the days unfolding V reversal from hell. A “master” – simply stated. No panic is noted – even after his certainty that we were on the doorstep of Satin while he laughed. The point here is to show how he reacted and reversed himself in the teeth of a reversal that froze the best of us. He shows with his writings that he is not married to his positions, is not emotional about what is happening, and partakes in no meaningless banter with internet leaches – he sees the market for what it is – presenting a threat and opportunities. I start just before the V reversal and note the market positions:
Comment 1: “Not covering my shorts here. I am pushing the envelope.”November 13th, 2008 at 12:21 pm (Approx 216 DOW points from bottom)
Comment 2: “RELEASE THE DOG.” November 13th, 2008 at 12:44 pm (Approx 228 points from the bottom – just before we fell off the cliff)
Comment 3: “Down we go. Banking coin here.”November 13th, 2008 at 12:52 pm (Approx. 131 points from the bottom)
Comment 4: “The rally, which was made from marshmallows and goose down feathers, has failed. Now, we’re coming for that transvestites (Art Hogan) bottom call, around 7,800. Here we come you cockless bastard! As an aside, I am thinking about covering some of my shorts tomorrow. I can see the market crashing here and knifing lower tomorrow morning, then bounce. Boing! Until then, I will enjoy the bloodshed, from the luxury of my short positions, much to Tim Knight’s chagrin.” 1:00 pm (said at the dead lows of the day? What is interesting is his commitment to the move/trend; however, he is beginning to think one step ahead)
Comment 5: “I step away for 20 minutes and the market rallies 250 points. WTF.” November 13th, 2008 at 1:52 pm (Begins to question, for the first time, the mood of the market. Curious that this comment is posted after a breach of the 61% retracement of the days move.)
Comment 6: “Just in case: Selling REW/ buying UYM” November 13th, 2008 at 2:12 pm (Starts rebalancing 550 points from the high of the day. Rebalancing takes place just 20 minutes after “WTF” comment. No “I’ll show the market” BS, no “oh god please tell me why this happening” comment – just get it fucking done in as quick a manner as possible)
Comment 7: “I had enough. I am booking profits on some inverses and upping some of my longs Currently, I am 60% long, 20% short and 20% cash.” 2:19pm (Comment made 537 points from high of day – on a fucking dime switches to long bias 27 minutes from first “WTF” comment. Nerves of steel)
Comment 8: “Buying FXP down more than $10.”November 13th, 2008 at 2:55 pm
Comment 9: FXP position cannot hurt me. I will buy more into weakness.November 13th, 2008 at 3:32 pm
Comment 10: “Must buy into the close. The goal is to be long, with hedges.”November 13th, 2008 at 3:39 pm (Completely reverses bias with no hesitation noted. “
Comment 11: “At the close, I still have very minor positions in (DUG: 35.13 -22.38%) , (EEV: 75.55 -28.85%) and (SDS: 90.79 -13.48%) . And, I own a decent amount of (FXP: 60.40 -26.86%) . Overall, I am 65% long, 15% short and 20% in cash “
You see, CW, The Fly is not from Earth. We’ve sent him to your pathetic planet for other tasks. He’s been doing this blog thing in his spare time as a hobby. Click on my name to see what else he’s capable of.
great job. however, those ultra (long & short) ETFs are better left to be shorted than long. they are going lower in long term.
Using percentage change to compare increases in score doesn’t make sense to me. Is that what PPT does?
Unless a change in score from 1.0 to 2.0 is as significant as a change from 2.0 to 4.0, I’d think that it would be better to rank just by the change in score. I’d want to know if a stock moved from 3.2 to 4.8, but it wouldn’t have made your list.
Ott:
I can do that too. The important score is hybrid. However, just for reference, I like to see what stocks are shooting up in rank, for momo plays.
Pertaining to what you asked: our screener will be able to identify that.
Plus, you can clearly see what the hybrid scores are for stocks most up % rank wise.
AFAM up 5 handles. Egregious.
Can you input “ate a 1/2-peck bowl of oatmeal this morning” into PPT and see how it affects the technical score for each industry sector?
If nothing else, it should boost the ag and water-treatment sectors.
Love Hangover – http://www.youtube.com/watch?v=-NJZxcpM2hk
Cramer just said “don’t worship the golden calf, er, bull” … Fly, you post that calf again?
PS: Anyone get a piece of the ALL move?
I think Ritholz did
http://bigpicture.typepad.com/comments/2008/11/10-intraday-swi.html
I sold SDS today but not FXP – I hate FXP. China has 700 million people connected to farming – how many of you internetards knew that trivia? Say China’s retail sales are up? I don’t even know if they have a big end of year shopping season. Lehman was a screwup – now the $750 bill is a screwup – the wheels can come off this machine.
c.w., re: the inverse ETFs. Anyone buying these to hold them for more than a couple of weeks at the most is deserving to be debanked, for numerous and varied reasons.
The diETFs are for nothing except hedging and trading.
I have proven that they can be played, on both sides, for profits. A 10% move is 10% move is a 10% move.
Speaking of epic reversals. My 2nd best day of the year. Including CBS, HOT long trades and RJF short cover @ 1:10.
But, the Mac panic buy of GNW is what did it. Hopefully, others grabbed GNW when I posted the R/T buys yesterday and this AM.
Sold 36K from 1.03 @ 1.78. Still holding 14K.
DEVILDOG: Here is a prime example of you crawling your pussy ass into a hole and going Bin Laden style. Come out of your faggot cavern and talk about what happened today pussy.
As soon as this shit takes over FXP will be back to 200. http://www.treehugger.com/china-smog-tiananmen.jpg
looks like fly is becoming a reporter.
reporting things after they occured…..and chaning his positions every day!
God Bless America! AMFI did me right today. 33% gain in one day.
It’s called adjusting, rookie.
Fuck off.
Hey ‘Jake’s little Bro’ imposter – hit the bricks, hatchet.
Yes, i bought SLW at $2.70 today.
I also bought it when it was north of $12…
gapping and yapping has a point, Dog. You have been tireless in your efforts to trash the US economy, the US people (they don’t measure up to you standards), Paulson is worse than Hitler and now that the market rallied you’re nowhere to be seen.
Get out of the kennel and explain yourself. We all know that you know the kennel door has been unlocked so there’s no excuse.
If you want to find a good small-cap fund manager …
Find a good large-cap fund manager, and wait.
told ya we close green 😉
No Doubt the FLY rocks…I was in damn meetings and set up perfectly to take full advantage of today…I was waiting on FLYs reversal…too bad I was in meetings from 2:00 PM – 4:00 PM…this market is not suited for professionals outside of who are not market professionals….