The market is rallying off of nothing. Take this spike to knife into some inverses, spefically [[EEV]] , [[DUG]] and [[FXP]] . I do not want to be net short. However, I want my hedges to preserve my gains and protect me from being clown raped, Amen.
My guess, we close near the lows of the day. The market has too many things to deal with, such as Citigroup Inc. [[C]] , Morgan Stanley [[MS]] and Goldman Sachs Group, Inc. [[GS]] .
Trade Accordingly.
UPDATE: I bought 1,000 National-Oilwell Varco, Inc. [[NOV]] @ $26.87.
UPDATE II: I bought another 1,000 [[NOV]] @ $26.55
UPDATE III: I bought 1,000 [[NOV]] @ $26.55.
UPDATE IV: I bought 1,000 [[EEV]] @ $85.09
UPDATE V: I bought 2,000 [[FXP]] @ $61.95
UPDATE VI: I sold short 2,000 Transocean Inc. [[RIG]] @ $72.39
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Odd no?
Fly bottom two days in a row?
Will hedge later in day though 🙂
FUCK YOU.
I am rarely wrong.
lows of the day, you say ?
Calm down, nobody said you were wrong.
How can you be wrong when your hedged.
(hah, I had to add this.)
Here comes the cunt! Prepare for a dick slashing.
Oh shit.
Kneale reproduced.
Artificial incemanation?
HEY FLYM WHAT DO WE DO WITH MACY’S, BUY MORE?
Like M here. Rumors of bankruptcy are gravely over exaggerated.
You can Insert Fly update now: I’m callimg an audible,triple long right here !
Audible, a tactic used by quarterbacks in American football to change a play at the line of scrimmage
Why do they call it an audible ?
Why does anyone even watch “American football”? 🙂
We did rally off the trend line (870 S&P)started from yesterday’s rally, but as usual your probably right. I’ll be a pussy and stay in cash till next week.
THE FLY BOTTOM?
THE WOODSHEDDER TOP!
Here we go again.
Jake I hit the Pei Wei in Kingwood last night. Stuffed my face. That’s how sure I know we will rally into the close.
Hey Fly I think yoru letting your shorts get to your head. You need to stay objective in this market.
u guys are chicken. heavily hedged going nowhere. Check out Atilla at xtrends. he called for yesterday rally much bfore you guys. and today also he said we will close at the highs. at least he has conviction. u guys keep patting your back after the event. i did this and i did that. losers!!
Shortbus-
Dental Hygiene is the practice of keeping the mouth and teeth clean in order to prevent dental problems and bad breath. Not practiced in U.K.
STFU
I am 65% long. Don’t you read?
Rally Round…
http://www.youtube.com/watch?v=I5ZPZTPxA5c&feature=related
Fly
shouldnt be entertaining stupidity and get your self worked up homes. With a grain of salt my man.
Go drink a nice glass of glenn levit
The fact that is rallying off of nothing is the exact reason to get long – no reasonable explanation of yesterday or todays tape by most talking heads and bloggers alike. I view it as state of the Titanic is baked in… everyone is waiting for other shoe but it’s not falling – go long.
Have Tim and ‘The Fly’ exchanged their blogs? Fly the bearshitter and Tim the bullshitter…
Atilla is the man. Not even Master Fly can touch his skillz.
ASSHOLES
I am 65% long. I am not talking my book. I am speaking truth.
God Speed.
even atilla lost his ass a couple of times. but at least he comes up with his thoughts on the market much before the event and stands by that. not like go long, go short, go long, go short, awwww forget it, go fuck!!
That was your window.
It is now closing.
too bad you idiots didn’t take the opportunity to hedge.
I will now proceed to dance on your graves.
Todd Harrison
02:21:17 PM
position in dxo, wft, sso
Lights, Camera, Action!
I return from filming a “top secret segment” with Hoofy and Boo to find bears on the prowl and bulls with a scowl. We wondered yesterday whether the second mouse would get the cheese (another test would be necessary) and rather than carry curious risk home, made broad sales across the board into yesterday’s close.
As I settle in, chew through the Buzz, suck down a sandwich and anxiously await our requisite respite, these are some of the vibes flickering behind my tired ideas in no particular order:
* We offered in August that retail therapy would be necessary into the holidays (retailer might need to seek professional help given their consumer dependency) and sure enough, that trade played through.
*
Now, as I hear about how horrible it is out there–with many of these stocks cut in half–I can’t help but wonder if a counter-trend trade is in the offering. Sears (SHLD) (with a $30-handle), Hot Dog (Home Depot (HD)) and Lowe’s (LOW) (as teenagers) are potential vehicles on my radar.
*
Back-to-Back Snapper attacks are often “too cute” but I nibbled back at the SSO (upside S&P with steroids). How much confidence do I have? I’ve set my sell stop at my cost basis (my entry point was $26.70) and I’ll trail it higher should the opportunity arise.
*
The song is Killers.
*
I also like the energy sector as a “go to” spot and the usual suspects still apply (DXO, BHP Billiton, Weatherford (WFT)) on a trading basis.
* A little perspective for ye faithful on a Friday.
* Green beans in the Red Sea? Google (GOOG), 3M (MMM), Dell (DELL), Bank of America (BAC) and Wells Fargo (WFC), among others.
* Jeezums, look at these swings. Lemme get this to you before this post is completely antiquated and remember that it’s contra-hour, friends. The last hour will be a world unto itself.
* As always, I hope this finds you well and thanks kindly for rolling with my punches today.
R.P.
Minyanville Staff
02:11:18 PM
No positions in stocks mentioned.
Vibes from Minyan Tony “Snoop” Dwyer of FTN Midwest
There are two distinct equity market calls here, and how you approach them is dependent on time frame and style:
* Near-Term Tactical. I’m tactically positive at 840-850 and would add exposure in those areas that have suffered the greatest decline – the global growth theme areas like Energy, Materials and Industrials. I’m tactically defensive at the upper end of the range (SPX 1000), which would mean taking money off the table in those names and rotating into the more defensive areas – Consumer Staples and Health Care. My view here has been depicted in my silly “toe dipping” analogy, where I make small incremental additions as the market approaches the lower end of the recent range.
* Intermediate-Term Fundamental. I’ve always based this call on Credit and more specifically High Yield Debt to 10-yr U.S. Treasury Yield spreads. The credit picture is as bad as it has been throughout this entire cycle. There has been very small improvement from historical levels in Agency, Mortgage-backed and Investment Grade spreads, but even there, credit is still historically dislocated. Not going to zero is not a growth strategy and that is the only thing the stabilization at historical stressed levels are suggesting.
The bottom line is that until credit really improves due to increased and sustainable investor interest, the best I can hope for is to stay in the current range of 840-1000 on the S&P 500. When we come out of this, my favorite sector is likely to be Consumer Discretionary because the capacity reductions are going to be massive, and that should come at the same time as lean inventories and free money (increased monetary and fiscal stimulus). I simply believe I can invest and see a sustainable equity market rally when the corporate credit market sees significant and sustainable recovery, which to date it has not.
If you are unable or unwilling to make tactical moves in this environment (which means having the ability to switch on a dime given we can see 10% intraday moves), I’d continue to advise long/short funds and stay as light in exposure as possible. Wit long-only funds stay as neutral to benchmarks as possible with an underweight in the global growth theme sectors and slight overweight in defensive sectors highlighted above.
Bennet Sedacca
01:57:16 PM
position in UYG
BKX Positive Divergence
There was also a ‘spring’ of BKX yesterday and the RSI is diverging positively.
Yesterday, looked like a puke-a-thon, so I give benefit to BKX long.
Back to long UYG, with a stop below yesterday’s low in BKX.
the biggest loser of all – TIM KNIGHT. can you believe he has CAREFULLY selected 75 long position and 75 short positions? he should be in Hall of Fame for Asshats
Only idiots do that. He could have saved himself 100 hours of labor by buying ROM and FXP.
FXP is about to move 20 points down or up.
The window is open again, but I’m staying 100% long, ready to turn on a dime.
My Fly, that’s an extremely attractive ass you have there.
____
WY going down like a cheap ho’
Buying NOV and EEV here.
Look at that tail on UYG, its a buy.
Dank yous for da viagra….look, I’m smilin at yous.
Memo to Jim ‘El Capitan’ Cramer
Doug Kass
11/14/08 1:32 PM EST
Adding, Jimmy, adding to my long rentals!
Looking to Move Higher
Doug Kass
11/14/08 2:20 PM EST
Recognizing the inherent volatility and uncertainty, Jimmy, I believe this action — especially after yesterday’s launch — is picture-perfect for an upside move.
Position: n/a
Picture Perfect, Jimmmy
Doug Kass
11/14/08 2:44 PM EST
I am adding to my long rentals.
Not selling this rip.
Position: n/a
Memo to Jim ‘El Capitan’ Cramer
Doug Kass
11/14/08 1:32 PM EST
Adding, Jimmy, adding to my long rentals!
Looking to Move Higher
Doug Kass
11/14/08 2:20 PM EST
Recognizing the inherent volatility and uncertainty, Jimmy, I believe this action — especially after yesterday’s launch — is picture-perfect for an upside move.
Picture Perfect, Jimmmy
Doug Kass
11/14/08 2:44 PM EST
I am adding to my long rentals.
Not selling this rip.
Wow.
What a turn. I may have to retract my Woodshedder Top comment.
The Woodsheddar rebound to nearly unchanged !
Nice call.
Fly – followed you on NOV, first time for me following you and on NOV. Good luck to me you…and me.
Nize goosh schteppink.
_______
http://www.trimtabs.com/site/TTSampleResearch/Weekly_Flow_Report_Sample.pdf
Fly do you use any of the stuff mentioned here. I find trim tabs usefull. Nice charts and shit.
Everyone jump in the waters. The sharks are gone. Yipeee. The sharks are gone!!!!
I am going to jump in drenched in blood!!!!
I’ll hedge in on Update XXI
Time to hammer FXP. It will drop 50 points in the last 10 minutes. Or it may run 100 points higher. Quality.
Is there a more annoying cunt than Maria? Slut.
AAPL is a screamer prostitute here.
Devildog where are you?
Bitch of a whore!!!
I just wanted to say that.
Proceed to circle jerk into the rally. You are all safe. The sharks are gone.
I already did I went a little crazy here and now have a very large position in fxp, had UYG 500 shares. I’m a bit scared of NOV ? or is that crazy shit
Google off to the fuckin races.
And I’m off to another freaking meeting.
Damn year end… can’t figure out why these fuckers are all trying to avoid paying Mr. Obama’s nice new wealth sharing tax increase on their hard won capital gains.
Odd no?
___
Long NOV/short RIG works for me.
Who is schtepping und mein Goosh?
_________
(handing Fly buckets of bloody tuna chum)
Don’t forget these…
_______
As said before, volume is key on these reversals…
Welcome to the No Cock Suck Zone.
Eating a hot dog is painful with your lips sheared off
Jake, did you pick up the additional GOOG @280 yesterday?
Fly,
if we end positive today, do you think asia goes nuts on monday?
Maybe CHINA will start to matter?
M looks REALLY, REALLY good here.
When next quarter’s results come in, mebbe not so much.
Facinating to watch FXI and FXP side by side…FXP should be double performance of FXI…two days ago, it seemed FXP would lead FXI (slightly more than twice FXI performance). For better part of today, FXP has actually matched FXI…FXI up 2.5%, FXP -2.5%…what happened to the double effect?
I scalped some gains on this rally to make my losses back earlier in the day. I’m really mad at myself for screwing up my original plan of just buying late in the afternoon and holding. Instead I got whipsawed and over-traded.
Whatever. I’m up tiny (0.1%) on the day. Up 10.1% on the month. Now back to 100% cash and ready to relax this weekend from this ridiculous market.
Funny:
“The No Suck Cock Zone”
A place where Cap wishes here was in
Assholes
How’s that rally working out for you?
If the window is open can I have two dimes to win of the four horse please?
Thanks
Even if we end red today, cannot discount the magnitude of the up reversal…after a 550 climb yesterday from deep in the red…
Should be a mental mind fuck for those trying to time the bottom…
Weekend mulling will probably draw some buy and holders back in to allocate more towards equity…especially when Barrons calls “the bottom”…again…
“How’s that rally working out for you?”
FLY…you are starting to sound and act like DEVILDOG.
Get ready for a rally into close…hopefully S&P closes above the 92 level.
No this is Devildog:
BULLTARDS WE ARE GOING TO CRASH TO 1,000 DOW ON MONDAY AND THE FLY IS BUYING NOV.
ODD NO?
What happened to that obnoxious but uncannily correct guy “Generational Bottom” or some such?
Bottom and Juice have been right on this whole week, advising people to go LONG and not hedge or short.
Where is “Bottom” when we need him NOW?
The “No Suck” zone? Puhleeze, I looked @ the S&P500, still plenty of suckage left on there. Ha!
UH OH.
CAP may go to the way of the turkey and gobble gobble.
PS- Cockgobblers are gay, no offense.
I officially lost my “on fire” status today and over-traded like a drunk monkey. I need to re-group. Have a nice weekend everyone.
EB…you done good lately…have a good weekend.
Last post was imposter, not me…but see your point…I guess…
Fly is in the zone man.
Fly sold UYM as instructed. Thanks
Are the twitter features of the PPT extra?
Its not the financial crisis anymore its the economy. And lack there of.
Jake, I heard a guy on CNBC say I’m watching Google Oveh heah. Cracked me up. Do you buy ball cream buy the case at Costco?
Drunk monkeys are fun to party with….
Fly you nailed it perfectly. Congrats. Bulls should be shot for buying.
Huh? HOW’s IT WORKING OUT ASSHOLES?
ANSWER ME!!!
Wow! This market has returned to its true form. One that involves clowns, pillages, confusion, and circle-rapes.
http://wordinfo.info/words/images/zoo-zoolatry-bull-women.gif
The market is behaving normally. Time has been compressed by a factor of 20.
The media and the government are covering that news up, but the rabbit ears on my tinfoil hat picked up the signal.
http://i.usatoday.net/travel/_photos/2007/09/21/forbesx-large.jpg
EEV, FXP buys have proved to be Godly.
Not so much on NOV.
U da man Fly.
Has Devildog hijacked the Fly moniker?
wtf?
uh..but your net long FLY
God this market is insane. I guess up tiny isn’t so bad after all.
Hey Fly,
Check out what the Motley F’s are saying. It looks like they’re not buying our FXP:
“Chinese premier Wen Jiabao called his country’s stimulus the “biggest contribution to the world.” We don’t know whether that’s true, but we do know that China’s ability to reach deep into its huge coffers to finance further growth gives it a significant advantage over the rest of the world’s struggling economies. This is why we continue to believe in the Chinese miracle, and why we think more American investors should be taking advantage of this current temporary downturn to diversify their portfolios into previously expensive Chinese stocks.”
Anon:
The gains in my inverses have me up on the day, despite the downside action in my longs.
EB,
You are too emotional, it will be the death of you ultimately
well in that case FLY – i hate you even more – but respect you of course –
65% long 50% short -15% cash= 100% crazy
If you trade this market, you’re a liar if you say you have ice cold water in your veins and no emotion.
NOV sux. Buh-bye NOV.
M made me money today.
Thank you Mr. Fly.
Paul Tudor Jones is emotional. Look at his track record moron.
Fear not, American citizens. We actuarry pran to send stimurus check to every American too. For good of grorius grobar economy! Buy many iPod, BrackBerry, meramine candy, prease.
FLY you nailed it. Nice.
Great fucking call Broker. I almost went long as a hedge against my short positions but then I thought who the fuck wants to be long over the weekend in this dog track of a market. I saw what you wrote and stayed put.
Allow me to purchase your 2″ Ribeye for you sir.
Shit, sold FXP for decent profit, left $1500 on the table.
FXP buy was god like. We are heading to 7700 and 775 SnP.
Why can I edit Zen’s posts and hijack his name.
Odd, no?
I’m building a shrine to Master Fly as we speak.
Avalanche!
The Fly’s time machine works again!
Do you buy ball cream buy the case at Costco?
KC, I don’t even know what this means?
____________
Aside: What did you fuckers do to my market in 52 minutes?
Did the Fly go long again??
_____
Nice call fly on the lows of the day. you have a gift
My new strategy: do whatever the fuck FLY tells me to.
Flipped FXP for a tidy profit, did not want it sitting over the weekend, it’s either going to be up or down 15% monday morning.
im stuck in this BS UYG trade to which I have to hold over the weekend.
FUCK FUCK FUCK FUCK
Motley Tools. I have a subscription to them to… just to short their picks.
I wish they had a quadruple inverse ETFs for newsletter picks. I’d call it the iBC Quadruple Inverse Herd Short. Holdings are as follows:
Cramer’s picks 30%
Motley Fools picks 10%
Woodshedder’s picks 50%
AIG 10%
EEV holding ground all day.
(just kidding Shed. I bought BUCY.)
Like the fly said we will close towards the lows of the day. It will be worse for the market on monday. remember fxp will print 100 by thanksgiving
“Woodshedder’s picks 50%”
Lol.
_____
No problem Gio. I like to chuckle at my own expense.
I was not pleasantly surprised at how today finished.
However, I checked my fills, and because everything gapped down this morning, and that was when I bought, I actually ended UP on a couple of them. Now, I’m talking pennies UP, but that is better than down.
i was up 3% on BUCY now i’m down -2% on BUCY. i actually went and sold my inverse ETFs before that nonsense 380 point rally when you said market was going to rally, so that was good. Then I re-entered them when i read Fly’s post, so that was great.
actually, finishing green on today’s tape, bull or bear, is probably rare. i imagine most people shorted the bottom or bought the top, then bailed out in-between.
Bottom callers amuse me. This isn’t a hole we’re in, this is the peak. Buy GE, it always goes up. BREEHEEHEE!!