Sometime soon, we will get a nice rally in the market. However, I will not bet big on it. If anything, I’ll trade small and try to scalp a little. Basically, oil is leading the market by the nose. I do not trust oil. I think it’s in freefall mode and whoever is trying to bottom fish will get his/her respective faces ripped off.
Right out the gates, I see Chinese stocks are up, which is punishing my [[FXP]] . Normally, I’d buy the dip right away. But, being 80% short, my position is to cover my shorts on dips, not add to them on spikes. With the 10% cash I have left, I will use it for an emergency situation, such as: “OMG, FXP is down $20, what will I do”?
The market is made from marshmallows and goose down feathers. The bulls are weak bitches, hung over from doing diluted lines of blow the night before.
As you know, “The Fly” has some pretty sizable positions in [[REW]] , [[EEV]] , [[FXP]] , [[SDS]] and short Petrohawk Energy Corporation [[HK]] . I’ll have you know, in addition to you already knowing, I intend to sell my inverses and cover my HK short at more advantageous prices that what my screen is registering now—as a point in fact, unbeknownst to many of you.
So, with that in mind, I will have a looksy over the market, and get a buy list ready, for when the market is ready to bounce. Just know, we are not bouncing today.
No Sir. We shall first taste the infamous “Art Hogan” bottom, prior to any sustainable uptick.
ROFL UPDATE: “Our children will remember Hank Paulson.”
[youtube:http://www.youtube.com/watch?v=TRdZghb0Y8o 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
The price action of FXP is retarded and as of late not correlated closely enough to Shanghai…switched out at a profit to EEV
Normally, the market fucks it’s participants as much as possible.
Now, the market is even fucking the market.
Fucking market.
Thank HK is every bit the dog you claimed it was. Down almost $3 yesterday. I’m going to hold my puts until it is single digits. Nice call!
Is UYG a good buy down here? It was in October
You know Fly, NOV, is still holding the levels you advised people to get in at. It’s actually trading like a champ down here considering the market and oil carnage.
Consult your time machine for when it does turn, so we can all buy boatloads of BGU, TNA, ERX, and FAS. 3X!
Ok, back into “oversold” GOOG @ 283.25. Short stop once again.
UYG has impaled its nut sack on my chin. Just the same Im holding. Mid 8’s entry is not all that bad.
Oh, GS and C are finally entering oversold territory. The other financials are close enough. I’ll start buying something here.
fxp toast. find something better.
Do not fear!
Larry, Mo & Curly will save the day!
http://i34.tinypic.com/kalqwo.jpg
quick heads up on HK.
small insider purchase.
t. fuller, director, bought 6k @ 18.52
http://sec.gov/Archives/edgar/data/1059324/000118143108061138/xslF345X03/rrd223000.xml
The Baltic Dry Index is actually up .. maybe its been obliterated enough, for now.
Anyone have any interest in DRYS for a trade?
Nov 15 is supposed to be an important day for the hedgies…anyone know why? Is hat the last day of redemption notifications?
Fuck Art Hogan and fuck his bottom. We break through it IMO.
For what it is worth the insider purchae post is not actually from the market fool.
Right now the market fool is working on insidious trolling at dope on a slope 🙂
Who da fuck is Art Hogan ? Is he Hulk Hogans brother ? Everyone talks about this Art Hogan fella. Whats up with that ?
Thumbs up for the return of the edit function.
Wow, GGP really went all the way.
Anyone having computer or e-mail problems today? Virus like?
Karma and edit is slowing blog down. I might have to take it off.
Last week’s filers highest jobless claims since Sep 11/01 and the highest number of ongoing in 25 years great bullish news for the markets…
L 2.5K CBS @ 6.12. Stop 6. New position.
felt good to take a lot of profits…
Yesterday there were way too many people bearish, I looked around and everyone and his mother was selling and saying pessamistic things. I don’t think this will last very long, but it’s going to be a strong bounce here.
Shout out to Reggie on his GGP call. That dude is awesome! Best bloggers with most actionable calls: The Fly, Tim Knight, REggie Middleton
btw … watch this rally slowly, reluctantly build … eventually it will explode and take no prisoners
but if this happens, and it is a BIG IF, you must sell it at the close and sell it short
Cap
It’s some dweeb that called the bottom back at the October lows i think, so fly in his majestic but vengeful is out hunting for it. Art’s truly hated in this bear pit.
which reminds me.
hey fly can you let the Dog do some cameo appearances like say a Friday afternoon to shoot the breeze. If you’re going to think about it do it before his 11/19 “dead” line.
Cap
It’s some dweeb that called the bottom back at the October lows i think, so fly in his majestic but vengeful way is out hunting for it. Art’s truly hated in this bear pit.
which reminds me.
hey fly can you let the Dog do some cameo appearances like say a Friday afternoon to shoot the breeze. If you’re going to think about it do it before his 11/19 “dead” line.
yes sir. GGP is gone. A sign of things to come for REITs.
Shit, in seeing what I’ve missed the last 2 weeks, scared to see Fly almost shut this bizness down.
Sometimes you have to cut off a finger to save a hand. Deep six karma and edit…blog is toooooooooooo sloooowwwwwwww
All you DUMFUKS were so bearish yesterday.
You all need to be undumfukized.
But I see you are, like slimy little weasels,
trying to change your positions unobtrusively.
But that won’t work.
We non-DUMFUKS have memories like an elephant.
GGP owns the mall here where I’m at. Had a story in local paper last night about it. It’s one of the nicer malls around here unless you head to the Twin Cities.
“A spokesman for the company that owns Oakwood Mall says it is close to bankruptcy.”
GGP goes down..how about shorting DDR; VNO; SPG & BXP at this point?
It’s being hacked.
Everytime we put karma back, someone hacks it. I have many enemies. This time, we will find out who did it, then prosecute.
Legal revenge is the best kind.
I few weeks ago I was call an idiot for saying that goldman was going to paint the tape red all the way down to 60. I have been shorting that piece of shit from 120. I bought 60 puts two months ago for pennies, now I am going to Hawaii on goldman’s demise. thank you to the ” Partnership”
Turn it off. You don’t have enough bandwidth for that gay shit.
If you don’t know Art Hogan, then you weren’t trading back in the old days…his face kind of looks like he got bit by a dog when he was little.
Somewhere around Dow 7750ish intra-day, he called it “the bottom” on CNBC live.
Ever since, Art Cashin has been saying that we need to “go and re-test that bottom”, evidently referring to Art Hogan.
Art begets Art.
I’m ready for that monsta’ rally any time now. Anytime now, please.
Please rally.
Hard Right:
We have unlimited bandwidth. We have our own server. My page is being hacked by TIM. The FBI is on the way to his office. Do not fear.
I’m not sure what is more fun, trading this market or rubbing a cheese grater across my face.
You sure it isn’t Romanian script kiddies?
Definitely rubbing a cheese grater.
Karma is coo, Editing is coo’er, Getting long China is the coo’est.
Most of you fuckers will never come within 50 IQ points of me.
I just wanted to throw that out there.
As I’ve said repeatedly, websites built of PHP are teh suX0rs. They draw anklebiters like flies to shit.
Hacker has been identified. FBI is moving in.
Naturally, I will update you, via FOX news, as more information comes in. I will have Bill O’reilly break the news.
Time to declare victory on the short side.
LOD simultaneous blinking lights:
GE
AXP
MSFT
Sold 2.5K @ CBS 6.52 from 6.12
BTW, F Art Hogan and his recent bottom ‘call’.
“The injection of liquidity by major central banks is helping confidence that we’ll be able to work our way through this credit crunch.” Art Hogan, Jefferies & Co., MarketWatch, 8/13/07.
Single digit IQ’s are the new rage, man.
Sinle digi IQ’s are in vogue, man.
Not to boost your ego, but you’ve got at least a 100 IQ points on Erin Burnett.
Since my site is useless (Jeremy is out sick). You fuckers can catch me on Twitter:
http://twitter.com/The_Real_Fly
God Speed
most people would never come within 250 IQ points of me…
Wow, GGP really went all the way.
Yeah, and took her sister, CBL with her, the whooah.
But look at CBL today. Getting her virginity back, no thanks to that hooker sister of hers.
_______
Scully — any chance you are in Raleigh, NC?
Used to know an Asset Management company out there…
__
Tim Knight switching teams … closing out shorts, getting some longs on for move to SPX 960
fwiw
http://slopeofhope.com/2008/11/13/for_claritys_sake.htm
http://slopeofhope.com/2008/11/13/switching_teams.htm
c looks like a dogs breakfast, broken 9 now.
GGP goes down..how about shorting DDR; VNO; SPG & BXP at this point?
Maybe you can put a bet on the Devil Rays for the 2008 Series while you’re at it.
________
ok, declining into the lows for how many days in a row?
I’m going to position myself for a bounce short term.
Not to boost your ego, but you’ve got at least a 100 IQ points on Erin Burnett.
“Booty Call Burnett” only acts dumb. She’s a Williams-Goldman graduate which is almost as bright as an Amherst-Morgan graduate.
Serious, I’ve got buddies that tried to hire her ass, and it was only half because they wanted to tetch it.
_________
Don Harrold would be a lot more fun to watch if he had some nice cha-cha music in the background instead of that creepy ambient shit.
He freaks me out… I mean, I know that’s his intention, but still…
-DT
Is it just me or is there something wrong with GE ? Stock action has been abysmal as of late. Trading like they could be announcing BK.
Cap, do you know that your name just popped in as mine, and if I wanted I could edit your above post. I have edit capabilities on your post. In fact, I could even delete it.
And I’m not even a hacker.
Yeah but can you suck your own cock?
“Booty Call Burnett” only acts dumb. She’s a Williams-Goldman graduate which is almost as bright as an Amherst-Morgan graduate.
Perhaps someone literally effed her brains out between graduation and now.
Buying my new trading vehicle CBS again @ 6…
Who’s coming with me? If you come with me, this will be the moment of something new, and fun, and inspiring in this GOD FORSAKEN trading business. And we will do it together. So… who’s coming with me? Who’s coming with me flipper, here? Huh? Who’s coming with me? WHO’S COMING WITH ME? This is embarrassing. Finerman, let’s go. Aw Scully, I’m one month from that pay increase…
Still short all my RJF from 23.52…you freaking hayseeds.