As I sit here amazed at what I just witnessed, I began to reminisce about this business and my experiences in the market. I remember, working as an intern, back in 1997 when the market broke 7,000. Everyone in the office was elated, high fiving each other, then going to the stairwell to do an 8-ball of blow.
Being young and rough around the edges, the significance of that moment went over my head. The only thing I could think about was how rich I was going to be and how much better I was than all of the old dudes around me.
All of those guys survived the crash of ’87 and knew a thing or two about bear markets. They embraced the window of market upside, as if it was their first blow job. Unfortunately, for them, they are probably readying to let off howitzer shells to their fucking faces right now.
I look at this tape and almost feel sorry for all of the people in the money management field. Almost.
Since 1997, the market has been one big fuck job after another. We’ve been through scandal after scandal, forcing investor attitude to deteriorate to the point of madness.
Almost 12 years later, shockingly enough, the Dow Jones is about to break 7,000 again— this time on the downside. For the regular Joe, relying on his mutual fund manager to build his nest egg, 2008 has been horrifically tragic.
People ask me “what now, what will happen next”? My answer is always the same: “who the fuck knows.”
Back in 1997, the internet was first being introduced to America and stocks were as hot as a pistol. Even after the Asian contagion and the LTCM crisis, deep down, everyone knew the market would rebound, because—fuck— we’re America, that’s what we do.
This time around, people are overlooking their staggered portfolios and wondering if they will have a job in three months. Confidence is nil.
One thing is certain: whatever these fucking imbeciles have been doing, over the past 12 years, is 100% wrong. Hopefully, despite what your political leanings are, Obama can offer better leadership and put a bottom in this market.
As for the market:
I sold out all of my National-Oilwell Varco, Inc. [[NOV]] and 50% of [[UYM]] for a massive loss. I don’t even want to think about it. I am still holding everything else, despite rumors of coked out brokers shooting their faces off with howitzers.
If you enjoy the content at iBankCoin, please follow us on Twitter
Sold FXP and moved into UYG, still holding GLD.
Update: 30 yr treasury now up 9 points 3.45% ytm
Thanks Fly for that post. It’s an honour (sic) being part of this blog.
Let’s see if 7200 holds tomorrow.
At least Fly was man enough to sell. I can’t tell you how many people are holding on to their longs in this tape until they get even while they watch their equity evaporate.
I have been wondering how much blood will be spilt on the pavement until the eunuchs and metrosexuals quit singing show tunes, prancing around with designer handbag longs and waiting to catch the grand piano falling from the adjacent corporation’s roof with major long positions and , after steet smart survival tactics have been resuscitated through electroshock of their portfolio, resume chasing the market down the rabbit hole.
It’s ok, I like soup.
TBT looking good for AM ?
I’ve decided I’m giving my unoborn child my UYG and UYM holdings when she turns 18, maybe they’ll be worth something then… Hell, I’m going to start buying DIG as well for her 21st b-day.
Well, I guess I picked an interesting time to start trading…
I guess technical analysis goes out the window in these circumstances?
So close to that Sinatra line.
Art Cashin is probably wanting a clean flush below 1,000 Dow to put in a real bottom.
Fly,
You certainly know how to pull on a guys heartstrings. The crash of ’87 fucked me careerwise as I had a job lined up in a brokerage house which then didn’t materialize…then in 1998 LTCM blew up at the same time I was floating a bond issue…still managed to get it done…cupid stunt Nobel Laureate…this year I completed an IPO and we are trading a 1/2 cash value…long live turmoil as it provides opportunity for big wins…I Love It…more or less!
I repeat: the market is broken. Any rally should be used to reset shorts.
The crazy thing is we are really only 6 weeks into the pain. Sure the market has only been going down since last Halloween, but we didn’t get kicked in the teeth until October.
Anyway, who the fuck cares about my blabbering. I have to figure out how to get a hack license or become a loan shark or start selling weed again.
Anyway, the site and your prose are a god-send for an atheist like me. While making money is off the table for now, at least i can have a good laugh.
Take it easy Fly.
Art Cashin wanting a firm bowel movement.
Wonder what equities Vince Farrell and Cramer are gonna talk about.
Fly..u still rock…I still don’t understand why u went bullish today…
The S & P is officially a ghetto…
Stocks have been stripped, jacked up on blocks and left to rust.
we are now a third world country.
Hey we have to rally at some point. I don’t care if we go down to 6,500, does anyone really think we will stay there? There are so many stocks right now that are stupid-cheap. Even if you assume they’ll only make 1/5 of their earnings, they aren’t at an 8 multiple.
Chesapeake Energy at $14 – nearly 25% lower than where Aubrey had his margin call. BS – does anyone think people won’t heat their homes this year? Or that XOM won’t buy this bitch for $22? Give me a break.
I don’t know if we will rally tomorrow, before Thanksgiving, or what, but fuck me some of these stocks are so oversold as to be laughable. For every four stocks with massive exposure to leverage and commercial real estate, there is one with a massive balance sheet and good solid earnings. They are out there. I started buying at the close and will buy the down open tomorrow.
We’re still America, Fly. That may not mean shit anymore, but it still means a fuckload more than “We’re Norway!”
Great post Fly. Seriously one of your best in its poetry and honesty, that’s why this is my favorite blog.
Master Fly,
Thanks for sharing you story, wish you would do this more often.
The Fly is God.
Fly, You still have the best blog on the internets.
Obama can offer better leadership and put a bottom in this market.
I wish you were right, but I think not. There is no help on the way, no cavalry riding to the rescue. The markets have barely begun to price in what happens to the USA with Communist economic policy.
‘nuf said:
http://www.reformation.org/great-depression.jpg
Lets just say, this was a great fucking time/year to learn to trade with my real money. HA. Too bad when I started off I was too trigger happy with my trades/shorts. Now I’m in the red with a long in UYG, guess this just turned into a very long term hold.
Fly –
Thanks for hipping us to HK.
now i look for another rally, to place some new shorts.
mamma watched me trade today and she said..
“jesus christ, those etf things you are trading are the new bubble.”
i laughed , but gee, deep inside she is somehow right.
i
love my good old mum..
but fly… i love you even more.!!
My chart of hope: http://img179.imageshack.us/my.php?image=hangtuffnov2008ix4.png
don’t hope for bailouts … there’s simply no money to bailout anybody … the US is insolvent ..
No shit from Art Cashion, tomorrow we will hear…”Ohhh, we are getting close to that Tuesday capitulation bottom, we will probably go down another 1500 points, before a long SHORT-TERM bottom is in!”
If you guys are long, I would highly recommended shorting the oil services as a hedge…that break below $50 on crude was brutal along with a MASSIVE breakdown on the OIH.
We are clearly not a third world country when girls are getting benz’s for their sweet 16
Look at a very long-term Dow chart, back to the 30s.
Support possible at 4000 ( we mayhave some rallies before then), but if you share my view that the US is doomed, totally doomed, then sometime next year Dow to 1000 or so is very likely.
Poor Fly.And poor sheep who may have followed his recent purchases.
Be careful out there, get your money out of the Dollar,m it will crash next year. Good play is short US Treasuries, before they get dumped too.
The US is doomed relative to who?
Who are you suggesting is going to look good during a global economic recession?
I started trading in Novemember, 2007. This bullshit market is all I know.
It’s hard. I can’t belive how much money I’ve lost. Casino-level losses.
the fly has puked a favorite recent long and waxes nostalgic about his early days- if that aint a bottoming/capitulation sign i dont know what else is. dont bogart the blow
Great post, and so true about the average investor sentiment.
Malaka,
1. It was a Saab.
2. That video was viral marketing for Pizza Hut.
Let’s not fucking kid ourselves here, though the market is dealing with a lot of polluted bullshit, politics are playing a huge role. This is how the stock market is embracing unilateral, left-wing, policies.
The Fucking Bush Administration, along with FED & SEC, completely ignored the shenanigans on Wall Street the last 8 years, and we paid a handsome price for it. Today, we’re paying the price of the complete opposite … the fucking morons on the other side, and gonna place a wet towel over most industries in America. The bailout of the auto industry is nothing more than a bailout of the labor unions.
DOW Chart of hope:
http://img513.imageshack.us/img513/7125/hangtuffdownov2008nb0.png
SPX Chart of hope:
http://img179.imageshack.us/img179/3434/hangtuffnov2008ix4.png
Relative to the rest of the world. The US produces virtually nothing, is up to it’s eyeballs in debt, and is ruled by the Fed and it’s banking cronies.
Sadly Obama will just get you even further into debt.
It is the end of an empire, very sad, as US people have the right attitude to life, but you’ve all been screwed for years by the banking elite, Paulson at al.
Sure, Europe will suffer, but the bailouts are better policed, and capitalism will thrive eventually…but it is dying in the States…just look at your auto industry.
I am sorry, but can see no way back for you.
small fry.. on regards to your comment.
“We’re still America, Fly. That may not mean shit anymore, but it still means a fuckload more than “We’re Norway!”
as you already know , i am the colombian guy..
but i also happen to have scandinavian ancestors..(danish/swedish)
right now, saying we are norway, means much more than saying we are america..Norway is not as fucked up, crime rates are quite low, financially they are fucked, but never as much as your own beloved land.
first of all, your comment reminds me: thats the idiocy that has led your great country to the shithole.
thinking your country is better than anything else, does not help..
as you already know, America is the name of a continent.
and if you want to be recognized as the country of great men who has given the world many of its wonders, you should be less self centered, otherwise, those fake stereotypes of the fat and dumb redneck will get even more popular and with the Dow at 3000, it will not be of any help.
Thaddeus McCotter’s speech at the auto hearing yesterday in case anyone missed it.
http://www.youtube.com/watch?v=zI2nCkl19ZM
Fly,
I love reading your incredible insight and your stories as a money managing God. It just pisses me off when people root for global economic collapse, as opposed to shorting with honor. You chuckle at the fat guy, you don’t cement his asshole shut and pump him full of grease. Another potential world war is not something lazy fucks who sit at home and seek attention on the internet should wish for. Kind of like if you watched the spoiled kid at school push around your kid knowing full well you could disembowel him and make his parents jump rope with his intestines yet you can’t do anything about it. Karl Denninger, aka Sam the Eagle, has some good points about purging shit and lobbying OUR congressmen but it doesn’t fit our 2008 human disposition.
One thing I have noticed is that The Fly always seems at the top of his game when he is hedging and thinking clearly. Remember the sandwich. Small/medium bets in either direction will always win in the long run over large bets in the short term. There’s a greater chance of a small bet turning big and a big bet eating yellow snow. Who am I telling a God how to throw lightning when I don’t even cause static electricity though. Just ranting that I’ve seen how well you can trade, learned alot in the years I’ve traded, and still someday would like to do it on a professional scale. This is a fuck of a time to learn, but there is no better time than now.
Our auto industry?
When we contemplate resurrecting a car industry I think the first step is to examine whether we need more cars. There is no car shortage in America. There is not going to be a car shortage.
Most of the junk people make is simply not necessary. The reason we no longer produce anything is the same reason children do not work in factories for 14 hours a day. Production is extremely efficient. Not all of us need to do it.
Tru dat.
America should wish it was Norway, but more Viking.
I’m investing in can soup now. You won’t believe what people will do for a can of soup six months from now.
Hope your right FLY…
http://www.globalresearch.ca/index.php?context=va&aid=10860
Damn, I am so pissed. I had 100 shares of SKF in my IRA and sold it at $155 thinking I made a nice trade from $105. The damn thing crossed $260 today!!! That is a $10,000 trade in 2 weeks.
I’m back with an important news bulletin. I went 75% long before the close. 600 $GOOG @ 263.69. 3300 $V @ 49.18. 4200 $CMG @ 38.86.
I smelled panic capitulation in the late afternoon today, also looking at the move in treasuries/vix etc. First time since mid-October.
We might have another bad day tomorrow, however I think the short-term bottom is today or tomorrow, so bought today as I did not want to miss it. We go much higher the rest of the month.
The GM bailout will fail, as will the other $2.7 tillion that has/will be pissed away. Politicians must at least look like they took action – even when it’s completely wrong.
A good chunk of the $300 billion that has been handed out so far of the $700 billion tarp, has been used for bonuses, compensation and dividends. BK companies pay dividends w your $ – nice.
I look at this tape and almost feel sorry for all of the people in the money MIS-management field. Not.
By the way, take a look at the HK 2 month 30 minute chart. There is a gap at $15 which gapped 3x. We are now under the gap which tells me we will probably never go above that gap again.
Thanks for the call on HK fly.
deadcat = DEVILDOG
Seen it and been there seen it since 1983 or so.
If you are long and you say I don’t care anymore about stocks and and you can’t sleep at night then a rally will start in the AM.
It’s a part of the circle of life.
…nice post, Fly !
A mix of poignant…despondent…nostalgia…and a hint of vulnerability !
Who ARE you, Fly ?
.
I just got back from a meeting (which I left for @ 11:45 PST) and I had to vomit all over my suit at my fuckin’ FXP/SKF/SRS/SZK/DUG sales @ 10AM, right into our favorite fuckfaces: TBT, UYG, UYM and some “stupid money” ETFC stock.
Makin’ me look bad n’ shit…
for now
I hope
At least TBT makes $ if treasuries pop. The problem will be selling it back into USD.
On my way to Aspen for my first weekend on the slopes. I just wanted to say well said Fly!
I’m glad nobody followed you down the rabbit hole at C or NOV. Best luck – and please don’t try to force your “up 80%” down our throats anymore 😉
PS – Yes, I did bring my bikini for the slope side hot tub.
just leaving a footprint on this admirable post. times have changed. we knew it before the public knew it, and yet suffered from myopia or denial. take your pick.
-gio-
I’m sure Beth has a large cock.
Hey, I was 50% cash, until today. My C and GE buys are not too under water.
I still stand a chance of banking coin.
Watch closely, over the next week or so.
4fl3x….the first levelk of support didn’t hold, I can’t see the current level holding, not for long anyway.
As for the last level of support, I keep my fingers crossed it holds, but really can’t see it.
Forget fundementals too Small Fry, earnings are tanking, and will for several/many years. A consumer-spending driven, debt-fuelled economy has just stopped receiving debt, and therefore stopped spending. The depressionary spiral down has just begun.
Very sad, especially as Wall Street (courtesy of Paulson) is still paying out the bonuses.
Criminal.
Beth?
http://www.news.com.au/common/imagedata/0,,5862946,00.jpg
…have no fear people…Peter Schiff will cheer us up !
.
…thing is though…Schiff is starting to look like the smartest guy in the room !
.
speaking of 8-balls in the 80s and 90’s, does the “beeper-man” still deliver in NYC?
FANTASTIC post Fly, it took brass balls to take a shot at this tape the way you did. Proud to have gone down with you, let the cheap scotch flow….
So you are telling me that Barclays Global Investors UK Holdings Ltd and Capital World Investors is going to let 8 Billion dollars just go to 0?
Your telling me that DODGX is going to let $1 Billion go?
and many many others are going to let it all go to nothing? You really believe that? I guess it could happen but there will be a fucking revolt. I say bring it on but they better get that idiot at C in the electric chair while making decisions. One small move and I say pull the fucking hammer down.
On another note…
I’m glad to see that…
…“volatility is DOWN 45% from October 17 levels”
——————
LOL
.
Senor Colombiano –
The Bolsa de Valores de Colombia’s blog is a couple of doors down.
So take your kilo of charlie and go kidnap a politician’s kid or something.
Chupa mi cabeza…
Obama? Really Fly? That’s some BS. Never took you to be a socialist. Oh, and when’s the last time a president “put a bottom in the market”?
Though I don’t agree with Obama on most things, I think he’s an intelligent politician … vastly smarter than the current resident of the White House with the MBA.
With that said, I hope he has the brains and courage to tell his fellow democrats to shut the fuck up! It’s time for Obama to give up his ideology and become a pragmatist. I hope he fucking understands this.
Just so ya know I’m not planning on covering my SHORTS or selling my IETFs until 11/28 or 12/1. Believe whatever you want. I don’t care. This is the last time I’m helping you fools until I get more respect here. Otherwise, you’re on your own. I don’t need any help. BTW, I was UP $438K today. Much more to come very soon. If you haven’t had Lagavulin 16 give it a try. Continued good fortune to all smart BEARS. Have a good night!
Donny – don’t kid yourself. Ideology is all he has. They’re going to run the Leninist “New Economic Policy” playbook. Look at the GM bailout – “come back to us in December with a five-year plan, comrade!”
Metsman:
This Bush shit is not working. I’d prefer an assclown instead.
Peter Schif and Roubini will cheer me because I am on the BEAR side. Yes, FLY, when you said C and GE, my thoughts were ??????????????????????? I expect a big 500 point up draft any day now but all it means is of course that the market does not go down forever. I will sell the rest of my longs on a rally. Obama?????????? He is gonna make you dream of the wonderful days of Bush.
DevilDog,
You called it. I had no idea what would happen today.
It is hard to believe in someone who provides no rationale other than bulls are idiots.
i think you get your pop in C. if history repeats itself, WM, WB and all the other shit banks popped big time before they fell apart…this is C’s first time at this level…i’m thinking of putting 200K into this tomorrow (this is all i have)..i’m 26 so i want to be as aggressive as possible in this market…if i can double up then i will go party in Indonesia for a month or two…if i lose my ass..i will drown myself 🙂
anyone want to join?
About two years ago I posted on the old site something that pissed off Fly and a bunch of others.
I said something like “sometimes this community provides a clear contrarian indicator.” It was before we started the melt up in ’07.
I submit, with all due respect and candor, that we are doing it again. We are heading north.
Let the abuse commence.
Flux Capacitor-
Trust me, a collapsing stock market can change ideology in a heartbeat. Especially if the average Joe perceives the man in charge to be the problem.
Nancy Pelosi and Harry Reid are losers and they must be placed in their corners. They must be told to suck ass, and shut up.
Hey fly, you ever think that you pussies that have to use coke to be our financial geniuses might be part of the problem. You’ll be luck if the pain ends in the next 12 years. You NYC smart ass fuckers are at the foundation of what is wrong with America…lying, fraud, greed, cowardly and full of bullshit. Gonna burn this phony empire down and kill the wizards. Watch and see.
This Bush shit is not working? I think it is a little more drastic. Republicans Can. Not. Govern. Their entire ideology, and “trickle down” economics has been exposed as a complete farce. It is nothing more than bullshit cover so those who are in power can enrich themselves and their cronies while wrapping themselves in the flag.
Get used to Republicans being in the political wilderness for at least the next decade. Unless you live in Alabama, Georgia, Utah, Idaho or Okalahoma. But if you do, you’re fucked anyways. So go butter up a mayonnaise sandwich and re-mount your sister while John Couger Mellancamp plays on your 8-track.
Fucking imbeciles have destroyed our country, and now you play the “socialist” card. Fuck you. Twice.
DOG:
Wrong. It’s you fucking steers and queers from Texas with your dumbass Presidents that started this.
ROOMBA!
That’s all the abuse I have for you, BOOMER. Abuse isn’t my thing.
Why hold onto something like C; when you know hat it is possible to open one morning at .50?
Unless you know what is really under their hood, and I don’t think anyone (including themselves) does.
Feels like the market is getting to everyone’s sensibilities.
Not being a hater; Nobody, including me, should be trying to rag on anyone well after the fact. I just wanted to inject another view as to what is possible with holding onto that particular position. I hope it runs to 10 tomorrow.
I think what I like the most about this site is the
flashes of self deprecating honesty. (from “The Fly”)
Fucking refreshing in this circus market.
Boomer, you are fuckin’ A right.
lol. No wonder everyone is buying guns.
FUUUUUUUUUUUUUUUCK! The last thing I wanted to see was Mr EB going long!!
Somehow, there was comfort in every fucking nickel I lost being long just knowing I was not on the same side of a trade as him…
Fly…as a “Texan” let me say…
…while I take exception to your “steers and queers” comment…
…I couldn’t agree more with your “dumbass Presidents” comment !!!
——————-
Uhhhhh fwiw !
.
alf, would steersand/or queers fix the comment for you?
There are plenty of good Texans. In my experience, they are the ones who are proud to be Texans, but don’t volunteer that information in the first 3 minutes after you meet them.
The Fly Says:
DOG:
Wrong. It’s you fucking steers and queers from Texas with your dumbass Presidents that started this.
November 20th, 2008 at 6:27 pm
I’ve never voted in my life and never will. Anybody that thinks there is a difference between dems and reps is a sheepeople. That is just a donkey and elephant side show to make you think you live in a democracy and are free. I’m hoping the sheepeople will wake up some day and eliminate the wizards behind the curtain, however, I don’t hold out much hope. Sheepeoples are too dumb.
BTW, I’d sell all that crap you bought today if the stupid bulls give you any pop in the morning. Going down hard over the next several days.
DEVILDOG Says:
I’ve never voted in my life and never will
—-
Wow. Just wow. No wonder you’re full of such hate. You don’t even know how to do your civic duty. Let me guess, your boyfriend also cooks all your meals, does your laundry, buys your clothes, and wipes your ass. You remind me of Cartmann in the WoW episode when his mother brings him a bucket to shit in.
I do not know what wizards you are referring to.
It was not just the shadow banks making money. Contractors, electricians, plumbers, real estate agents, home flippers and copper miners made a profit.
Most people on the sidelines (including me) saw home prices double in 5 years and gave it little thought.
As for golden parachutes, many of those CEOs are at the head of banks that have millions or billions flowing through them. Tiger Woods makes as much as most of them clubbing a ball.
DEVILDOG: Please do us a favor and shut the fuck up you cum guzzling faggot. We do not care that you are short or long just that you fucking go into a hole and whither up dry into fertilizer in the desert.
In non faggot (DEVILDOG) related news, its time to party like its 1997! I say lets bring back the cocaine and cum stained dresses. Maybe we can go back to using 28.8 modems thus eliminate being tied to these fucking machines. Off to unleash some SQL worms on my neighbors.
Hey America,
Are’nt you ashame to go from 800 to 750 on S&P500 in the TWO final hours with no news ?
Stop pissing in your pants. It stinks.
It is possible to buy all your car companies with 10B. Citigroup is valued at market value 25B.
Just a reminder : the FED has lent 140B just for AIG so far. Your governement cannot take the risk having 4 millions unemployed just for a few billions, unless they are some great incredible assholes with absolutely no common sense. (Ok, true, Bush is one, but I guess now he knows he should shut up and stop spending money on stupid wars and the like.)
-10% on my portfolio in 1 day… come on… Useless to say I doubled my position on your index tonight … for a couple of hours. Even the yellow people cannot shit in their pants like this. Get an attitude tomorrow. Please.
Josh-
“Tiger Woods makes as much as most of them clubbing a ball.”
Tiger Woods doesn’t make his money placing other peoples equity in peril. Think about that.
The U.S. CEO is the most overpaid jackass in this country. Their duties are more PR than business. And most of them are not any good at that either. Dick Fuld is living proof.
It’s nothing more than a Good Ol’ Boy network.
My point is simply that fair and money have no place in the same sentence.
As long as there are people smarter than me with greater financial knowledge (as in always), they will be able to take a portion of my money. This will be true when times appear to be good or bad. It will be true if we switch to a gold backed currency. It will be true if America’s dollar continues to fall from favor.
keep your wits till tues. ladies. we’re gonna rally. just watch. I’ve seen the future
long on ung,f,c
Donny:
Trust me, a collapsing stock market can change ideology in a heartbeat.
IMHO, the best we can hope for is that he’s closer to another Carter (incompetent left-winger) than an FDR (effective, unrepentant communist). Either way, it’s going to get a lot worse before it gets better.
WTF, how is Ternium (TX) so cheap. Am I missing something here?
It’s market cap is over 20% less than last year’s cash on hand and cash equivilents. It hasn’t made stupid investments, even if they had to PAY money to get rid of there steal, they’d still essentially be worth more than they’re priced at.
and how is shipping so cheap?
What are the hedge fund owners seeing that I’m not? Or are they just margined out their ass so bad that they’re selling everything and they know steel is going to continue to drop.
Perhaps the world may in fact be coming to an end afterall.
I’d be so dead if I was a perma bull… seriously.
anyways, I added more Ternium.
meanwhile, my puts are on fire.
Shut down the fucking assembly lines now! There are no buyers for cars. Shut them down. GM take 4 weeks for shutdown this year, not just 2. Lets let inventory clean out and then go at it again. Start the shutdown next week. SHUT DOWN THE FUCKING LINES YOU CLOWNS!
The Great Miracle Turkey Rally will emerge out of the steaming Bear shit, just as the Fly has forseen in his whiskey trance.
All shorts will cover going into the holiday.
gappin, sounds like you’re losing a lot of money being a sheepeople. Don’t forget your civic duty. Too funnny.
Hey gappin, learn to pay attention and listen to those people much smarter than you(sheepeople).
Too bad you didn’t listen to me this morning. How did I call it exactly? I’ve got a better time machine than fly.
Repost for stupid sheepeople like you:
DEVILDOG Says:
Just raised my SSF to 70. Continue to be amazed by the stupidity of bulls. If you bought the dip this morning I hope you have sold by now. You guys just don’t get it. We have much lower to go and will undercut this morning’s lows today and head much lower. You’ve been warned.
November 20th, 2008 at 11:23 am
Dudes, what have you done?
I went to bed with the market printing green at around 12 lunch your time and I wake up and see the market is down over 400 points..
LOL.
Looks to me like the tarp has to come in and buy some of the toxic waste afterall 🙂
friggen clowns is what they should have done in the fist place.
Me, I still have my Citibank long position which at this price is basically an option.
All year I’ve wanted that Canon 5d
I’ve been too cheap to spend the $$
I lost 10 of those camera’s in the last 10 minutes in my Goldman Calls AAAAArgh
That wasnt what you said Boomer, it was something to the effect of “half the people here don’t do shit.” That’s why you got shit-talked.
gappin, decided to post my perfect call again since I know it takes stupid sheepeoples like you at least twice to get it.
DEVILDOG Says:
Hey gappin, learn to pay attention and listen to those people much smarter than you(sheepeople).
Too bad you didn’t listen to me this morning. How did I call it exactly? I’ve got a better time machine than fly.
Repost for stupid sheepeople like you:
DEVILDOG Says:
Just raised my SSF to 70. Continue to be amazed by the stupidity of bulls. If you bought the dip this morning I hope you have sold by now. You guys just don’t get it. We have much lower to go and will undercut this morning’s lows today and head much lower. You’ve been warned.
November 20th, 2008 at 11:23 am
November 20th, 2008 at 7:56 pm
DEVIDOG is starting to sound just like he did in the hours prior to that 900 point Dow spike in October. We rally hard tomorrow. 1000+ Dow points.
Common Sense:
More like 4 months:
http://bstocksdev.weblogsinc.com/2008/11/19/unsold-foreign-cars-piling-up-at-u-s-ports/
Common Sense-
There are currently several thousand brand new imported Toyota’s, Honda’s, etc, down by the Long Beach port. Why? It seems the dealerships are not able to move their current inventory, and pre-ordered cars are coming off the boats, with no place to go. They’re storing them by the port.
Word has it, the Asian & German automobile manufactures are currently looking for more lot space to lease in anticipation of more backed up inventory.
I think we’re fire sales in this inventory.
What the hell is going on here. Why does everyone have to try and be better than or insult everyone else. The Fly comes here and posts what he buys and sells whether they are winners or losers. I have a lot of respect for someone that can come out publicly and say they were wrong/right. Keep in mind he does this on his free time and in quite a funny manner mind you.
DevilDog I think a lot of people do respect you, but for some reason they show it by attacking you (maybe jealous). And like the devildog you are, you attack back. I would bank that 400k+ if I were you. If it gets uglier it might go up to 600k but if we shoot back up that will evaporate quickly.
I thoroughly enjoy this sites posts and comments and have been reading for awhile and just thought I would finally make a post.
Fly: I need 50 cc’s of the PPT.
CAP, funny you should say that as I’m expecting a 1K DOWN day between here and 12/1/08.
DD – I have a question for you ? You are short the markets and betting on a collapse. So say things collapse and the entire financial system goes under, how do you plan on collecting your winnings ? I am assuming you have a brokerage account right ? And the broker holds money in a bank account right ? So if the broker and/or bank go under, how will you collect ? Even if the broker/bank doesn’t go under, the US dollar could be worthless. All currency may be worthless. Are you denominating your short positions in Gold ? If all that you say will happens actual does occur, you have no chance of seeing your money. All you will have is a brokerage account showing you made 100 billion dollars, but no way of collecting. Or 100 billion dollars might be worth 2 loaves of bread.
DONNY – Do they have some Benz’s and Beamers at LBC ?
I would love to head there an jack a few. The world is falling apart. Might as well go steal some shit. Jack a few Benz’s, Beamers maybe a Lambo or 2. Crash it doing 160. Than go out and steal another. Stealing shit is fun.
I think I’ll just head to my local Lambo dealership and steal a LP640. I’ll tell them to go bill Paulson and TARP.
Devildog, I’m gonna give your wife the danza tap tonight…booyah you fucking fag
seen my mustache, i’ve got it right here, all i need is return address.
excellent post. well said.
This may have been posted but since I don’t have time to read all the bullshit postings right now & have a subscription to WSJ I thought I would share it with those interested:
http://online.wsj.com/article/SB122722907151946371.html?mod=testMod
Executives at Citigroup Inc., faced with a plunging stock price, began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright, according to people familiar with the matter.
The internal discussions are at a preliminary stage and don’t signal that Citigroup’s board and management are backing down from their insistence that the New York company has ample capital, funding and strategic direction, these people said. But with the stock down another 26% Thursday, its worst one-day percentage decline ever, Citigroup officials have decided they need to reckon with a range of scenarios that were unthinkable only weeks ago.
Citigroup’s board of directors is scheduled to have a formal meeting Friday to discuss the options, according to a people familiar with the situation. Meantime, directors have been talking by phone about what could be done to reverse the stock’s slide.
Top executives were locked in meetings Thursday to hash out a stabilization strategy. A Citigroup spokeswoman said in a statement Wednesday evening: “Citi has a very strong capital and liquidity position” and is “focused on executing our strategy,” which includes cutting expenses and selling assets. “We believe the benefits will be seen over time.”
With roots stretching back to 1812 and more than 200 million customer accounts in 106 countries, Citigroup is an icon of global capitalism. It is getting battered by the same financial storm that has already remade the face of Wall Street, forcing the sale of Bear Stearns Cos. and Merrill Lynch & Co. earlier this year, and triggering the bankruptcy filing of Lehman Brothers Holdings Inc.
Chief Executive Vikram Pandit and other Citigroup executives have told colleagues they are frustrated and befuddled by this week’s 50% stock decline. Investors have dumped bank stocks en masse on fears that economic woes will batter financial companies worse than previously expected.
J.P. Morgan Chase & Co. shares slid 18% on Thursday, while Bank of America Corp. fell 14%. Citigroup declined $1.69 to $4.71 in New York Stock Exchange composite trading at 4 p.m.
In Washington, Citigroup officials this week have been urging lawmakers and regulators to intervene by making it tougher for investors to place bets that the company’s share price will fall, a strategy known as “short selling,” according to people familiar with the matter.
The company, along with representatives of other banks, is lobbying the Securities and Exchange Commission to reinstate the ban it temporarily imposed this autumn on short-selling of financial stocks, the people said.
“You would think the regulators would want to exercise some leadership and protect the integrity of the financial-services world,” said one person familiar with Citigroup’s lobbying efforts.
SEC Chairman Christopher Cox said he would hold a teleconference with international regulators on Monday to discuss short-selling and other matters. In a statement, he said it was essential that “there be close coordination among international markets to avoid regulatory gaps and unintended consequences.”
Specifically, he said regulators would “explore possible coordination” to tighten short-selling rules as well as disclosing short positions.
Meanwhile, Citigroup executives and directors are rushing to bolster the confidence of investors, clients and employees. Members of the board are hoping Citigroup can weather the storm by becoming more transparent with investors and easing anxiety that tens of billions of dollars in risky assets are lurking on the company’s books.
On Wednesday, in one move aimed at quelling the uncertainty about Citigroup’s exposure to risk, the company said it would buy $17.4 billion in assets from its structured investment vehicles, or SIVs, complex investment tools that first encountered trouble last year due to their mortgage-related holdings.
Executives in recent days have been telling traders, brokers and other employees to reach out to clients and tick off a list of factors that showcase Citigroup’s strength. On Thursday, for instance, executives in the wealth-management unit arranged a Friday-afternoon conference call for clients. A brochure that brokers were asked to share with clients promises that the call “will help you to better understand the current financial crisis.”
The sell-off in Citigroup shares has led executives to start laying out possible contingency plans. In addition to pondering a move to sell the entire company to another bank, executives have started exploring the possibility of selling off parts of the firm, including the Smith Barney retail brokerage, the global credit-card division and the transaction-services unit, which is one of Citigroup’s most lucrative and fast-growing businesses, the people said.
Mr. Pandit, an enthusiastic defender of Citigroup’s existing mix of businesses, is loath to pursue such an approach, the people said.
Thursday’s stock slide came despite the announcement by Saudi Arabian investor Prince Alwaleed bin Talal bin Abdulaziz Al Saud that he will increase his holdings in Citigroup Inc. to 5%, adding that he supports the banking giant’s management.
“Prince Alwaleed began buying Citi shares as he strongly believes that they are dramatically undervalued,” according to an emailed statement from his office. His holdings are currently less than 4%, according to the statement.
In late September, hoping to deepen its pool of deposits and shed some risky assets, Citigroup agreed to buy Wachovia Corp. with backing from the U.S. government. But before the two banks could hammer out a formal merger document, Wells Fargo & Co. swooped in with a higher bid, stunning Citigroup executives.
The Wachovia debacle turned out to be a turning point for Citigroup. The deal’s unraveling highlighted the paucity of other options for the company to pursue in an era when many banks are merging in order to survive. Few other banks that Citigroup can afford to buy would bring similar levels of deposits, the lifeblood of banks.
In recent weeks, Citigroup has been negotiating a possible acquisition of Chevy Chase Bank, which is a fraction of Wachovia’s size, according to people familiar with the matter.
With Citigroup’s stock declining, the Chevy Chase deal is now in danger of falling apart, the people said, because Citigroup had hoped to pay for the acquisition in stock instead of cash. Other bidders recently have emerged for Chevy Chase, including Capital One Financial Corp., BB&T Corp., J.P. Morgan Chase & Co. and SunTrust Banks Inc., possibly driving up the price of a potential deal, the people said.
Citigroup executives also are weighing the possibility of selling the company or merging with a rival. Some analysts have pointed to Morgan Stanley and Goldman Sachs Group Inc. as potential suitors.
As for Morgan, Mr. Pandit spent most of his career there and still keeps in touch with Morgan executives including CEO John Mack. But people familiar with the matter said that Morgan wasn’t weighing a bid and hadn’t spoken to Citi about a deal recently.
Morgan and Citi held preliminary discussions about a merger in September when Morgan Stanley shares were under intense pressure. Morgan covets the bank deposits and the added brokerage business that Citigroup would bring, but Morgan would mainly bring to Citigroup an investment bank that greatly overlaps with its own business.
Goldman Sachs is in much the same situation. It, too, would potentially look at pieces of Citi. But buying the entire company, and the liabilities that come with it, would be a lot to bite off.
—Rob Curran, Dan Fitzpatrick, Aaron Lucchetti, and Robin Sidel contributed to this article.
lets see. you’re 200% short, the spx is down 200pts in 9 days and you don’t cover. yes dd, you’re brilliant. fucking nitwit. wait, i’m sorry. i’m sure the market will be at zero by dec 31.
Now, I need to go do a bump, later 🙂
Fly changed the banner to predicting “HIGHER” prices in the future.
I’m sold, tomorrow I go net long.
Spock: LMFAO HA!
The Fly is God.
Great post, Fly.
I still haven’t bought single stock you have recommended and I’m still holding all my gold and silver stocks at negative 87. And if it were not for the nasty Sinatra music that makes me feel like hurling. Well crap, you do ROCK! PS. My 14 managed to talk her grandma into a 140.00 Coach bag. So that must be one hot brand if darling daughter found the energy it took to talk grandma into that one.
Bill Cara:
Why buy today when I can put off that decision until tomorrow? Isn’t that the opposite of saying on May 19, why sell today at Dow 13,000 when I could put that decision off until November 19 with the Dow at 8,000? Procrastination and opportunity: two words you ought to think about today. see Addendum
Exactly six months ago, the Dow Industrial index was +63% higher than it is today. I’d like to make you a little bet that six months from today, the DJIA will be at least +30% higher than it is today, which would put the index at 10,400 or more.
Of course, nobody knows for certain where the market is going from here, but I will say with a high degree of confidence that the majority of money to be made in the next six months will be long rather than short, and it will be made in equities, not fixed income.
Just for fun, I thought a replay of the Community Chat of May 19 would be in order.
I discovered that, except for Ralph at onlinetrading who was using this blog to direct people to his site, where he was sadly pumping them to buy stocks at the top (and then quit us at the end of May when the market started crashing), the Discourse was pretty negative. I think an objective assessment of the comments would show than the traders here had the Bear pegged pretty well.
The difference between analysis and performance, however, is action. You can stare opportunity in the face, but unless you act on it, it’s lost forever.
Warren Buffett is suffering too. His Berkshire Hathaway stock is down -40% in the past 45 days. But Warren has been investing a fortune in the market the past year. Look at the Cash Flow summary of BRK-A for the four quarters ending Jun-08: go to the line for Investments and add three zero’s to the numbers. That’s roughly $18 billion. And since June, he’s invested a lot more.
Where are you on this? Hopefully most of you are seeking values today. If you look for them, you’ll find them. How about the First Solar (FSLR) that I added to the Cara 100 last weekend. Six months ago the FSLR was $317. Yesterday it closed at $101.
Everybody seems to hate solar right now – everybody except Pres-elect Obama. Even, the Motley Fool yesterday said that “Fools should adopt a skeptical stance on solar.” I think that’s just being, well, foolish. I’m going to project that sometime in 2009, the FSLR hits $200.
In any case, you will, if you care to look, discover value in the market. Another word for it is opportunity. The next step is up to you. You might start by looking into strangles and straddles. The key to this market is using options strategies and tactics.
seen my mustache, you are absolutely correct. I always attack back. Appreciate your concern for my $438K, however, my targets have not been hit yet and as I’ve stated I intend to WIN the WAR. I’ve worked too hard figuring these targets out and I’m holding until then. In the last 3 weeks I’ve gone against every financial blog/advisor I know and I intend to make my point with egregious $838K gains on this swing, which will not be THE BOTTOM. Good luck to you.
Fly –
Don’t you know – pride always comes before a fall. You talked too much shit, acting like your godlike. That is scary shit.
BTW – Devildog is next.
I like the more humble Fly better than the arogant asshole “i am god” fly.
“That wasnt what you said Boomer, it was something to the effect of “half the people here don’t do shit.” That’s why you got shit-talked.”
I don’t remember that. But if I did, I was wrong to say it.
I do remember the contrarian thing though.
Either way, I hope you trade well tomorrow.
…if i lose my ass..i will drown myself …
That will be excellent. Then we shall throw dynamite sticks in the bay until your body bobs to the surface.
We shall yell, in unison:
“The Jig is up!!”
_______
DD-
I like you! All that shit I said about you before … forget it.
BTW, My fortune cookie (DUG = $60) is still ripening on the vine, and will almost certainly be picked within a few weeks.
waht’s UP-
Do you not understand that it takes huge brass balls to sling money around in this stock market. And if you’re a winner (like Fly and Donny), these are the type of balls that one must be proud of.
spock Says:
lets see. you’re 200% short, the spx is down 200pts in 9 days and you don’t cover. yes dd, you’re brilliant. fucking nitwit. wait, i’m sorry. i’m sure the market will be at zero by dec 31.
November 20th, 2008 at 8:29 pm
Gee, I missed your great calls lately. Mind re-posting them here so I can learn. Otherwise, STFU.
DD:
Your stock picking is amazing.You keep calling it spot the fuck on. There’s the respect you requested.
Now STFU with your politics n anarchy crap. If you weren’t so abrasive you’d get much more respect. You loooove the abuse. You’re an S&M guy huh?
Donny, don’t waste your time with these worthless clowns.
Devildog reminds me of that jj guy. He used to spout off about shorting this and that and somebody picked up a post on yahoo (same poster) about how the clown was shorting like 50-100 shares of some solar company I think it was FSLR.
Fucking hilarious man.
What’s up: The Fly IS God. He’s up 70% in this fuckfag, up 200, down 300, up 250, down 400 in one day, bull shit, lose your head, grab a straight jacket market. You try that. He sticks his neck out and after tossing empty cans of Monster Energy drink at his trader/servant, he reports his transactions to loyal fucktards like us (disciples). AND he writes like Bill Shakespeare! Shit, he probably looks like Richard Gere circa 1990 to top it off (not gay; insert Seinfeld line). Welcome to The Church of The Fly!
The Fly is God.
phd in psych, you should have been able to figure out my ultimate goal with your phd in psych. The money I make will be used to lead and support the anarchy. Better go back to school.
DEVILDOG: Its not Sheepeople, its sheeple you fucking waterhead. I am guessing your Asian right? Anyone 200% short SPX with “438k” riding would not be posting like you do on here, I know and work with these people, they fucking stay up all night pacing their asses off working on fucking models drinking coffee and shaking like a heroin addict after accidentally sleeping for 2 days straight. So cut the bullshit and quit posting fake numbers. Its fun to fuck around but your just goddamn annoying the hell out of us like a fat girl at the bar when her friend goes to fuck her boyfriend in the bathroom.
HONG KONG (MarketWatch) — China’s sovereign wealth fund China Investment Corp. (CIC) is leading a consortium of mainland insurance companies in an effort to acquire up to 49% of American Life Insurance Co. (Alico), a unit of the troubled American International Group (AIG:American International Group, Inc
News, chart, profile, more
Last: 1.44-0.12-7.69%
DD- You have not answered my question
DD – I have a question for you ? You are short the markets and betting on a collapse. So say things collapse and the entire financial system goes under, how do you plan on collecting your winnings ? I am assuming you have a brokerage account right ? And the broker holds money in a bank account right ? So if the broker and/or bank go under, how will you collect ? Even if the broker/bank doesn’t go under, the US dollar could be worthless. All currency may be worthless. Are you denominating your short positions in Gold ? If all that you say will happen actual does occur, you have no chance of seeing your money. All you will have is a brokerage account showing you made 100 billion dollars, but no way of collecting. Or 100 billion dollars might be worth 2 loaves of bread.
gappin, sorry you’re losing so much money and that I’m taking it. AS far as posting here, I’m trying to help you guys. I like traders that put their asses on the line every day. I posted exactly what would happen today and I also warned that the 19th would be the day that all indexes would make new lows. If you had listened to me you’d be a lot richer tonight. Keep fighting me and see where it gets you. I will WIN the WAR.
Rumours flying around that C will merge with goldman or ms. How is that seen to be a good move?
^^ devildog , that question is for you.
CAP, I’m going to lead the overthrow of our corrupt government and corporate leaders and kill the wizards behind the scenes and then fix everything. Any other questions?
# j Says:
Rumours flying around that C will merge with goldman or ms. How is that seen to be a good move?
November 20th, 2008 at 9:07 pm
That will be good. Actually C, GS, MS , BAC, JPM and WFC should all merge under the ticker SHIT. That way I just have to keep track of one short rather than 6.
# DEVILDOG Says:
CAP, I’m going to lead the overthrow of our corrupt government and corporate leaders and kill the wizards behind the scenes and then fix everything. Any other questions?
November 20th, 2008 at 9:09 pm
I am asking you ” HOW THE FCUK WILL YOU COLLECT YOUR STOCK MARKET WINNINGS IF THE FINANCIAL SYSTEM COLLAPSES ? “
CAP, he trades on the Mexican exchange with MDR’s. Pesos will rock after Judgment day.
Wie das Bumsen sammeln Sie Ihre Börseen-Gewinne, wenn das Finanzsystem einstürzt?
??? ?? fuck ?? ????????? ??? ????? ?????????????? ??? ??? ?? ?????????? ??????? ???????????;
Come la scopata raccoglierete le vostre vincite del mercato azionario se il sistema finanziario sprofonda?
Comment la baise rassemblerez-vous vos gains de marché boursier si le système financier s’effondre ?
CAP, I’ve actually got a well fortified and stocked retreat and have been buying physical gold and silver for the last few years. I also keep some cash. I also own a large amount of undeveloped land. I take cash out of my trading account after my major swing plays and use it for enhancements to the mix above.
what’s Up Says:
Fly –
Don’t you know – pride always comes before a fall. You talked too much shit, acting like your godlike. That is scary shit.
BTW – Devildog is next.
I like the more humble Fly better than the arogant asshole “i am god” fly.
Man, that’s an arrogant comment. And listen up, fuknutz: YOU’RE IS A FUCKING CONTRACTION. dumbass. The fly has… a sense of humor. This is why we read him.
shit.
OK DevilDog I concede . Good answer. You have this figured out.
Hey art hogan, is that coming out of YOUR bottom or THE bottom?
CAP, good luck to you.
How do you fuel the Viper in that scenario, DD? I’m getting a horse, myself, so Karen Tso can ride around naked on the back with me.
DEVILDOG – Why are you getting a F430 ? Why not a Murci or a Gallardo ?
A little humor from John Jansen’s blog:
”
SOMALI PIRATES APPLY TO BECOME BANK TO ACCESS TARP
PAULSON: TARP PIRATE EQUITY IS AN `INVESTMENT,’ WILL PAY OFF
KASHKARI SAYS `SOMALI PIRATES ARE ‘FUNDAMENTALLY SOUND’
Moody’s upgrade Somali Pirates to AAA
SOMALI PIRATES IN DISCUSSION TO ACQUIRE CITIBANK
“
Thunderpup, my retreat has it’s own underground gas tank. I have a large underground multi-car garage too. Obviously, I have a few generators for electricity in addition to a natural fresh water supply. Once it gets real nasty I don’t plan on driving my toys for a while. I’ll be hunkered down and ready to be real mean.
CAP, The Ferraris are proven race cars like my Viper GTS. Lambos are crap poser cars for NYC scumbag stock brokers with a bull(shit) as their symbol.
dog
does the paper delivery kid you you’re thinking this way? hate there to be an accident of mistaken identity… for him at least.
Sounds like a nice place. That gas goes bad after a couple years though, even with stabilizers, I think.
Maybe I’ll build a steam car in my spare time. Karen Tso would like that, I think. They’re damn fast, too, and hell they can run on anything that burns – yeah, that’s the ticket.
What’s your arsenal like? I’m with PSLs and M1As myself.
obviously there’s no way that devildog is a creation of someones imagination to fuck with you people.
jesse livermore,
indeed.
CAP, don’t worry with all the practice you’ve had sucking your own cock over the past several weeks you will probably end up alright if the world descends into anarchy as some warlords little bitch fluffer. haha.
http://www.prisonplanet.com/alex-jones-on-coast-to-coast-am-the-final-countdown.html
Whatever happened to that Dick Bove dude?
That guy is the biggest mush ever to grace CNBC
America needs more of:
The Fly;
DevilDog;
Big fuckin’ Vikings.
It needs people like these guys to work together, to cut through the bullshit platitudes and complacency in DC and the wholly undeserving douchebag elite supposedly running Wall Street. Also, to take over Hollywood, and then Detroit – but not DD, or we’ll all be driving meat-eating muscle cars and watching Red Dawn 16.
Let DD take on the Chicoms – they’re coming.
DD, “Just so ya know I’m not planning on covering my SHORTS or selling my IETFs until 11/28 or 12/1.”
So why 11/28 or 12/1?
One difference between you and Fly is your time horizon. The Fly has been switching between short and long in days or hours. You have months long horizon. Both strategies can make or loose money if not executed properly. period
To Phd in Psych: There’s an actual term to describe people like that. S-A-M. Smart Ass Masochist. They deliberately irritate or annoy people into heaping verbal abuse on them which secretly delights them. I kid you not.
There’s one more person somewhere in this general internets vicinity (who used to post more) that I suspect also fits that description.
Interesting stats:
Bubble October Panic Rebound Nov Test Overall Decline
1929 -45% Oct 29 +21.7% Nov 4 -22% to Nov 13 -49%
2008 -48% Oct 28 +19.6% Nov 4 -22% to Nov 19+? -51%+?
These figures use intraday extremes.
Karl Marx, thanks. That is exactly what I want to do. Hopefully, I’ll get to do it. Your right about China too. They already have troops in South America and their new class of nuclear attack sub with ICBMs was launched 2 years ago also. That is why our Navy is doing all the war drills off the California coast that the Supreme Court ruled in favor of using the active sonar which is killing the whales. Like I said it’s going to real nasty. Most people are clueless since our government controlled major media is not permitted to inform the public about the real goings on in the World. Cows and sheep fast asleep.
Screw DOW 1000. DOW 1000 is for bullish asshats like DevilDog. We are going negative (yes, negative) to DOW -5000. Vultures will pick the eyeballs out of your children while you lay armless and legless watching helplessly.
I just had this bad dream where the market lost 7000 points this year and almost every stock went to $3
Oh Sheeeeeeiiiit
to “Pero”.. on regards of his comment:
“Senor Colombiano –
The Bolsa de Valores de Colombia’s blog is a couple of doors down.
So take your kilo of charlie and go kidnap a politician’s kid or something.
Chupa mi cabeza…”
wao.what a sweet example of an atempt of an insult,.
Again, i point here the problem, single digit iq people thinking they are the “shit”. this is what happened in the u.s. some people in politics and in the financial industry, tought they could not fail by doing their work the way an ape could do it.
to pero: it would not amaze me if you say that you handle a hedgefund (or that you used to).
you still have alot of spanish to learn, you give me the feeling that you might have some severe down syndrome.
i dont need a blog for the colombian stock market, my broker does that for me. its obvious you have seen other countrys apart from your own thru hollywood, which makes me feel sorry for you, people so shortsighted as your kind , eventually loose it all in this volatile markets.
chupa mi cabeza? whats that? suck your head?..you didnt even get that right.
kidnapping is a serious matter, get informed..besides, you dodnt even get it right. sons of politicians are rarely kidnapped.
grow up..
Dog
So you’re saying that the Chinese are going to attack the US?
Why, prey tell.
Devil Puppy, let’s say your scenario plays out. What do you do when a Modern Infantry Unit knocks on your door and kindly asks for your gold and silver? They may like your “retreat” so much they keep it for themselves and keep you tied to a post out in the cold as their guard puppy. See your plan has holes, no?
Karl Marx Says:
Tru dat.
America should wish it was Norway, but more Viking
right on karl.
when the dow hits -3000,…(yes , minus three thousand), people will get back to the old ways of the Sword.(viking age might get back..)
if we dont rally tomorrow, ill invest some money in ammo and soup cans, and ill clean my greatgrandaddy´s sword.
Donny Says:
waht’s UP-
Do you not understand that it takes huge brass balls to sling money around in this stock market. And if you’re a winner (like Fly and Donny), these are the type of balls that one must be proud of.
Donny – you don’t know shit about having big balls. The people I know, who have big balls, never talk shit. The biggest ball MF have had there ass handed to them many, many times to grow those balls. Therefore – asshole – they don’t talk shit. Maybe your balls are made of glass? Huh?
I know I’m late on this but, Great post FLY!!
I must say, My favorite is still “Poof, gone are the days when…” Hands down THE FUNNIEST shit I’ve ever read!!
J –
your an ass – all grammatically correct and shit. I had a ugly bitch of an english teacher 30 years ago who had not been laid in years correct focus on grammar errors intently to feel better about her ugliness. Maybe you should get laid, it would be good for you.
Is my grammar OK now?
Asia is basically shrugging off the drop. Some turned green. Cocky bastards – don’t they know the world has come to an end?
Thunderpop – because you (and most on this post) think the market MUST continue to go down, it won’t. Not yet. The bitch will build up hope, then cut off your balls.
I am bearish – but expecting a mother of a squeeze.
@ What’s Up – I agree
I am bearish too. Fuck it. We go up tomorrow!!
I’m actually somewhat bullish, possibly regretting not getting out of all my SPY puts. I lightened up on them by 40% near the close, but maybe I should have done more. On a plunge tomorrow, I’ll definitely exit. This squeeze should be 20-30%. I have longs for the upside.
What’s up
Where the fuck have I complained about your grammar?
Colombian guy, you are new here, no?
Maybe you ought to think about lightening up, and laying off the shitting on America and all that stuff, eh bro?
I’ve got enough people on my shit list and heck, I’ve got friends from Colombia.
But they like this country, having fled their native land.
_______
Yeah – then the floor drops out. When everyone rushes in thinking that they will miss the bottom. This market is like a sadistic, seductive siren. First, she cuts your balls off. Then, she shows you her tits. Because they look so luscious, you go to grab them. Then she cuts off your balls – again. But you will come back for more when she calls.
J –
sorry – it was R that is obsessed with grammar. I was off by a few alphabet letters. My apologies to you J – Fuck off R
no problems. I thought I was having a pre senior moment 🙂
What’s up —
Hilarious, if nonsensical, metaphor.
Lol.
___
Futures are moving up – the siren bitch is taunting us by lifting up her skirt. Any takers?
Never have sex with a woman holding a knife.
j Says:
Dog
So you’re saying that the Chinese are going to attack the US?
Why, prey tell.
November 20th, 2008 at 10:45 pm
j, easy answer. They are coming to collect on our debt since we have no intention or ability to payback what we owe them.
Fuck GM and Ford, Citi and Bank of America. Saving those dickheads is pointless now.
There’s no time to waste. After the innauguration ceremony, Obama should get straight to business. First, he should push Congress to quintuple the military budget immediately. That done, Obama should light a cigar (Castro style), strap on a pair of shit-kicking boots (to match his new set of crisp military fatigues), don a cap that reads Comandante Obama and start invading shit around the world.
I’m talking panzer tank rollouts, F16 fighter raids, patriot missile strikes and major annexations of worthless African nations (think Zimbabwe, DRC, Brukina Fasso, Eritrea, Ivory Coast, Sudan and a host of others). Whatever it takes to shorten those soup kitchen lines at home and get Joe Six-Pack off the unemployment checks and on to the assembly-lines, producing shit for the war effort. I also propose beating Venezuela, Equador, Peru and Bolivia into submission, appropriating all their resources, Chavez-style, and then hiring Jacob’s Engineering, Halliburton and Foster Wheeler to do all the reconstruction work in those countries (preferably, just minutes after I and my IBC compadres get long aggregious amounts of the respective stocks).
All this, of course, in the name of economic stimulus.
I hit a tumbleweed on the way home from the office…it was in the middle of the highway…must be depression deja vu.
Dog, You’re a retard…enjoy living in your compound…Koresh wannabe
Thunderpup –
“Never have sex with a woman holding a knife.”
Most of us would never even think about it, UNTIL she lifted her skirt. It takes a man of discipline to not fall for the siren call. That is why we have these fucked up days of up +200 – then down -400
Please help us.
The master keeps us prisoner in his doomsday “coumpound”
And we pee on his Viper, since we raided the FlowMax stash.
Look at the green
http://ca.finance.yahoo.com/intlindices?e=asia
not that I think it will last
Most of us would never even think about it, UNTIL she lifted her skirt.
Look, it’s no secret that I’ll repopulate the Earth with Karen Tso as my future consort in any kind of doomsday scenario, but I wouldn’t have sex with her until she put down the knife, I don’t care how hot she looked – and she does look hot.
Thunderpup –
You are the exception – look at the fools buying up the futures as a little tit is flashed.
http://timesofindia.indiatimes.com/China_India_set_to_be_leading_powers_by_2025/articleshow/3739653.cms
Look at Asia bounce and our futures take off.
Fuck you Devil Ass
Louise Yamada on Bloomberg…worth a listen. Very interesting.
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vDlq_wyqEv_Q.asf
norcal,
Smart lady. Thank you.
marlin y, yeah I’ve been wrong so far. Why don’t you just STFU and post your buys tomorrow? Otherwise, you’re just a loud mouth pussy.
Devil Anus, I don’t believe a fucking thing you’ve said over the last few weeks. Nothing. Not the marine part, not your positions, not your fortified bunker, nothing.
You’re just a punk kid living in some basement.. that I know for sure.
You’ve been outed asshole.
I sold some more of my SPY short @ the close. Down to 15%. Still net short — including a few individual companies like HIT and RJF (as I try to post here during the day) but also still preferring to swing trade long or increasingly intraday for scalp profits on margin. About 70% cash for over a year. Wish I had the conviction of a DD and others to commit so much capital to the short side.
Just kept thinking since about 1050 on the S&P when I first started covering 10% a week…the market will bounce. You know, the next leg could end the bear trend. Lock some in. Now, I’m @ Nov 24th or any Hogan/Cashin low really won’t hold and the trend will continue significantly lower. But, the whole fucking Smart Money World knows the same thing. So, I cover in fear of losing profits.
They will rig the game more if they have to.
Either the uptick rule will be reinstated. Or, they may ban short sales completely. And/or change mark to market or suspend it. The World/US will not let these banks (C/BAC/MER/MS) fail or share value drop or stay under $5.
When the US government can print money, and borrow infinite amounts at ZERO % interest, e.g. 3 month tres is at .02%. The government will do whatever it takes.
weird market. when i left my apt today, the market was positive. i come home to a down 444 day a few hrs later.
oh, wait. that’s normal now. lllol
i remember saying, back in july, that we’d all wake up some day and the SKF would be @ 300. looks like we’re just about there.