iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,010 Blog Posts

Everyone Be Quiet

As the cold autumn NYC winds are whistling outside, the hobos roast marshmallows over flaming barrels of garbage. While everyone sleeps in NYC, the sound of sanitation workers spitting on the cold cement run rampant. Janitors are busy mopping the floors of the NYSE, while listening to meringue music—ignorant to what had transpired there the day prior.

In the NYC subways, young criminals are riding the train looking for a few iPods to steal. God willing, they may find someone stupid enough to flash an iphone, if only life were that good.

All around NYC, people scrounge around with hunched backs, worrying about margin clerks and how they will be able to retire off of such little capital. The drug dealers in Washington Heights are upset over the sudden lack of rich white kids, who once flooded their neighborhood in BMW’s, looking for blow.

The mood is somber and the times are desperate.

Once well to do Wall Street bankers find themselves without pay for the 6th consecutive month. And fledgling stock brokers, with an arrogant book of business, are suddenly saddled with large losses and several meetings with the frolicking faggots from FINRA.

In some dark corners of the city, old Asian men sell gremlins to old white guys, in order to put food on the table. And at the local sperm bank, the lines are long and the literature appears worn.

There is a certain seriousness to the city, as men with ski masks flash 357’s on liquor store cashiers and pundits, with oversized heads and undersized brains, crowd the studios of Fox news to say NO to more government bailouts.

At the 24 hour Pathmark, men with bad habits and a lot of debt stock the shelves with peanut butter jars and make sure the produce section is stocked with fresh bok choy, for the old Asian men who enjoy eating it with dinner.

Inebriated single, middle aged, women hurry themselves home, following another night of nothingness. And, at the zoo, the retarded nice goat, named Leonardo, pecks away at Lester the monkey, as if he were made from grass.

And in a far away land, many miles away from where indigenous marshmallow lovers knife each other in the scrotum, over the “nice flaming barrel of garbage,” men eating bok choy are putting a bottom in the world equity markets.

Now you can talk.

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175 comments

  1. jjjsix6

    But what will I do with all the soup I just bought?

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  2. HaywoodJablowme

    fly-
    you think NYC is bad, you should see SoCal. The desperation is palpable, hell the strip joints are empty.
    thanks for the entertaining blog

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  3. Topper Harley

    How many old men do you intend to kick down those filthy elevator shafts tomorrow?

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  4. MasterDebater

    Perhaps. Hate it when the futes are up 3% overnight though. Usually means that foul-mouthed fickle finger of fate will punch the pubes off the “buy the gap up” retards with reticence and smooth demeanor.
    But I could be wrong.
    Oh, and look for the Sunday night “Oops, we shit the bed and are getting bought for $2.00 and an option to buy Lester the Monkey” announcement from Vikram “It’s hotter than a tandoor in heah” Pandit.

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  5. Small Fry

    Asian markets rip to the upside and Dow futures are up 210 points. There will be a sunrise tomorrow.

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  6. Damon

    Hey Fly,

    Can I have a hit?

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  7. j0g

    Classic…And in a far away land, many miles away from where indigenous marshmallow lovers knife each other in the scrotum, over the “nice flaming barrel of garbage,” men eating bok choy are putting a bottom in the world equity markets.

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  8. Thunderpup

    Meanwhile, in Japan, Fukio “Housewife” Fukura is putting the carry trade back on, or at least no longer unwinding.

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  9. Jason Liske

    Awesome post FLY.

    Since I have a day job, I can roast marshmallows AND also look down from above – like you portraying the human race – racing around while we pretend to know which direction the market and our fortunes are headed.

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  10. BuyOnTheDip.com

    gremlins, bok choy, and rich white kids. genius.

    …. couldn’t sleep, LONG (FAS), thanks for the bed time story 🙂

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  11. j

    What the fuck was all that about, Fly? Are you writing some depression era novel set in the modern time?

    Dude.

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  12. ottnott

    This goes in the The Dangers of Owning a Time Machine file.

    Imagine going back a few years (to late 1997, say, when AAPL is worth less than $2 billion, or to Spring of 2003, when the market cap is maybe $6 billion), seeking out the biggest money handler you can find, and making the following statement:

    In the near future, Apple can buy Citibank…with cash on hand.

    You wouldn’t even be able to get a hearing for release from the institution until, oh, 11-20-2008.

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  13. j

    Can someone please explain to me what the fuck is going on here.

    I live in Australia, stay awake until 1.00 pm US time leaving a green lit screen. I then wake up 6 hours later and see the market down 400 odd points.

    Where’s the afternoon selling vomiting from.

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  14. BuyOnTheDip.com

    HANG SENG , after lunch hang over?
    12,624.85
    +326.29 (+2.65%)

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  15. The Fly

    The market was up on false rumors of a GM bailout. Once the democrats announced there was no deal and they were going on VACATION until 12/8, the market shit the shower.

    Plus,treasuries are pricing in the apocalypse and CMBS’s are blown out.

    Good times.

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  16. China Man

    Time to learn Chinese.

    http://www.studiochinese.com

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  17. Damon

    I think The Fly….

    ….is slowly escaping his life as a stockbroker/trader, and becoming a novelist (to hell with this blog bullshit…pretty high-caliber (albeit stoned) stuff.

    Can you blame him?

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  18. j

    Hi Fly:

    Does anyone doubt a deal hasn’t been done though? This is all posturing bullshit by congress to look as though they’re hard arsed about it. The deal is done: locked in.

    Citi is interesting. Pandit and the board singlehandedly brought the firm down. they could have capitalized more but they didn’t and so they’re fucked.

    Imagine: Pandit does a fucking townhall spiel and tell the troops he’s going to fire another 50,000. You run a townhall after the slaughter not before. Fucking idiot.

    Maybe Baldy blankfien could run it by merging.

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  19. Employee8

    boca Says:

    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.

    >> So you’re saying they are one and the same … and he even made an appearance not too long after your post … Odd, no?

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  20. WallStreetHunter

    “Everyone Be Quiet”

    Another Classic.

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  21. j

    Damon Says:

    I think The Fly….

    ….is slowly escaping his life as a stockbroker/trader, and becoming a novelist (to hell with this blog bullshit…pretty high-caliber (albeit stoned) stuff.

    Can you blame him?

    Bull. It’s in his blood. They would have to carry him away in a stretcher with no signs of life.

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  22. nncoco

    You write like a retard with a 155 IQ.

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  23. Karl Marx

    So I read this post and felt really full, but then a half hour later I was fucking hungry again.

    What the fuck!?

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  24. StarscreamPowerPlay
    StarscreamPowerPlay

    NYSE or Nikkei? Nikkei has good reason to bounce NYSE has none. Decouple deez nutz.

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  25. Juice

    Fly, you must have been a writer extroadinaire in some past life … serious talent.

    Besides your stock market prowess, I am here to enjoy the pearls that flow endlessly off your fingertips.

    Unequaled, on the internets, and off.

    Today, the One known as DevilDog, breaks out in beads of sweat.

    Don’t get too too excited, we likely make our way down to SPX 600-650, where late to the party bears will be annihilated by 20-30% intraday moves.

    Nukes are indiscriminate killers.

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  26. StarscreamPowerPlay
    StarscreamPowerPlay

    True Juice Bag.

    Hopefully, The Fly The Novel to be blowing up soon. Can’t wait.

    Volatility does spike both ways.

    http://www.youtube.com/watch?v=8nTFjVm9sTQ

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  27. Juice

    Its a Costanza world, afterall! Buy a Toaster, get a free Bank !!

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  28. j

    Let’s get back to the market…

    I think the market will rally today. It could be a big day.

    I think the C thing is over egged. C is not going to fail and the depositors lose their money, the investors may but not the depositors or bond holders. The Grandpa Fed would just put a wrap around that.

    Here’s the problem for the stock market… the corp bond market is trading at a huge discount with some stuff almost trading at a price that resembles equity

    That makes it hard for equity. So the stock has a real war on its hands.

    Several things will have to happen for stocks to go up.

    Eurotrashland’s ECB will have to cut rates materially and show it understands that it has a deflation fight on its hands.

    the Japs need to do the same, as well as China.

    The problem is that the Fed is fighting this all by itself while the others are acting like scared deer.

    Until that happens stocks will passed around like a whore at a bucks night.

    However once that happens there could be a melt up in stocks as people run out of cash seeking protection against the monetary expansion.

    So what will be the signs….

    All those things above, the Aussie Dollar and gold heading higher.

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  29. ZenProfit

    . . . . . . however, as surely as the sun will rise over a cold and depressed city, a glimmer of hope manifests itself in the glorious vision of a bright red, tight sweater straining to contain the magnigicent globes of Michelle Caruso-Cabrera for 3 Becky-free hours. Yes, there is still a reason to live.

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  30. BOOMER

    You have a gift, Fly. Comedic genius. If I had any criticism, it was that you referenced bok choy twice. 🙂

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  31. Paradigm Shift

    The Intrade line is showing only a 50-50 chance of the sun coming up.

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  32. Ass Napkin Mike

    Citi goes sub $4.00 today.

    I hope you have your ass napkin in place. Hopefully you didnt drink any “Bud mud” during last nights Steelers game–it causes the runs to be extra wet.

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  33. Edger Allen Poe

    Man, that was depressing. Keep up the good work.

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  34. cuervoslaugh

    Oh Gotham, where is thy Dark Knight?
    Looks like he’s throwing Monster cans at Alfred.

    Next to the story about the fighting fish, this has got to be my favourite piece written by Senor Tropicana.

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  35. ottnott

    No, no, BOOMER. The two bok choy references were vital.

    In the first instance, you picture small, fragile men quietly picking up pieces of bok choy with chopsticks or a soup spoon, chewing slowly, and then looking down to choose the next mouthful. It is a vision of quiet little men who have almost no impact on the world around them.

    In the second instance of men eating bok choy, the men have morphed into earth shakers.

    Surely you meant to criticize the repeat of the marshmallows and the flaming garbage, which was not as effective as the bok choy repeat.

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  36. Yowzers

    Nicely said.

    I think there should have been something about:

    “A young street prostitute, desperate for business, lowers her prices to a mere $20 a blowjob, anything for a paycheck and a warm meal… ”

    Now rejoice: It’s rally time again. Anyone thinking we’re back to sub-2 dollar gas is smoking crack. Depression or not, Americans will pay up for gas. I still don’t see anyone bicycling to work.

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  37. mrkcbill

    “And at the local sperm bank, the lines are long and the literature appears worn.” Is this happening in Black & White?

    Wonderful Stuff!

    Fly sometime in the next few….take a Ferris Bueller Day OFF…show up unannounced and pull your kids out of school.
    And just enjoy. You my friend are the real deal and deserve it. Peace.

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  38. Neil Sedaka

    Bennet Sedacca

    07:45:00 AM

    No positions in stocks mentioned.

    Neutral on US Equities
    This post was written at 11:30 pm on Thursday

    I am now NEUTRAL on US equities for the intermediate term.

    My 750 target has been reached and my low side expectation is 650 and my upside expectation is 830-840, but could be pushed higher if many buy siders stick to there $75 S&P earnings number.

    We have fallen so far, so fast, that neutral feels good and opportunistic better.

    But outright bearish feels wrong to me here.

    So ya know. I would NOT be short here, without stops that are now fairly far away, like north of 840 SPX.

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  39. Pulitzer Guild

    We are noting the high quality of prose rising from this Blog.

    Well Done!
    A bright light in a dimming world!

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  40. sniper6

    That is the finest piece of wordsmithing I have ever witnessed. I would say, this is a literary “tour de force”.

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  41. bailout lover

    Memorable rhetoric.

    One more bottom call is gay content.

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  42. jcvtwo

    Best post among many outstanding posts. Now that the writing contest is over, lets get back to the markets and bank coin!

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  43. T MOE

    It seems that everyone here is shocked and stunned. Didn’t DevilDog and I warn you about the upcoming doom. But you morons looked at Tuesday’s head fake and thought that things were going to get better.
    The same is going to happen today. People are all in glee over the futures pointing higher this morning. Yes we may get another head fake rally due to shorts covering and taking some profits to buy their wife something from Tiffany’s, but we are going lower, probably to S&P 600.
    Goldman (which I am still short) comes out and forecasts 9% unemployment and a deeper recession – nice news.
    This will not end until the job picture improves. Banks are laying off more people and a lot of them have not even been counted in the system yet. There is a lot more pain to come. Fraud, greed an ignorance a sure recipe for this Black Swan of a meltdown that we are seeing right now. Enjoy the ride folks, I along with other smart bears will.

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  44. anon

    always enjoy the posts, fly.

    cuervoslaugh, how about a link to the ‘fighting fish’ story.

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  45. T MOE

    Goldman Sachs Group Inc. increased its recession estimates, saying gross domestic product is declining at a 5 percent annual rate in the current quarter and will drop 3 percent and 1 percent in the next two quarters.

    Unemployment will reach 9 percent by the fourth quarter of 2009, Goldman economists led by Jan Hatzius wrote in a research note today

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  46. j

    Moe

    No one is doubting the economic slowdown. However the question some of us have is whether 50% from the highs is discounting what Goldy’s is suggesting is a recession and not a depression.

    In other words you seem to be almost religiously bearish at 7,500 as you would have been at 14,000.

    The dog seems offended if someone mentions they are buying a stock.

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  47. hammer

    Nice Fly, add a few rhymes and something about sugar plums and I think we have a new classic Christmas tale to read to the kiddies for years to come.

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  48. T MOE

    Some say the end is near. Some say we’ll see armageddon soon. I certainly hope we will. I sure could use a vacation from this bullshit three ring circus sideshow of Freaks here in this hopeless fucking hole we call LA The only way to fix it is to flush it all away. Any fucking time. Any fucking day. Learn to swim, I’ll see you down in Arizona bay. Fret for your figure and Fret for your latte and Fret for your hairpiece and Fret for your lawsuit and Fret for your prozac and Fret for your pilot and Fret for your contract and Fret for your car. It’s a bullshit three ring circus sideshow of freaks here in this hopeless fucking hole we call LA The only way to fix it is to flush it all away. Any fucking time. Any fucking day. Learn to swim, I’ll see you down in Arizona bay. Some say a comet will fall from the sky. Followed by meteor showers and tidal waves. Followed by faultlines that cannot sit still. Followed by millions of dumbfounded dipshits. Some say the end is near. Some say we’ll see armageddon soon. I certainly hope we will cuz I sure could use a vacation from this Silly shit, stupid shit… One great big festering neon distraction, I’ve a suggestion to keep you all occupied. Learn to swim. Mom’s gonna fix it all soon. Mom’s comin’ round to put it back the way it ought to be. Learn to swim. Fuck L Ron Hubbard and Fuck all his clones. Fuck all those gun-toting Hip gangster wannabes. Learn to swim. Fuck retro anything. Fuck your tattoos. Fuck all you junkies and Fuck your short memory. Learn to swim. Fuck smiley glad-hands With hidden agendas. Fuck these dysfunctional, Insecure actresses. Learn to swim. Cuz I’m praying for rain and I’m praying for tidal waves I wanna see the ground give way. I wanna watch it all go down. Mom please flush it all away. I wanna watch it go right in and down. I wanna watch it go right in. Watch you flush it all away. Time to bring it down again. Don’t just call me pessimist. Try and read between the lines. I can’t imagine why you wouldn’t Welcome any change, my friend. I wanna see it all come down. suck it down. flush it down.

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  49. BOOMER

    ottnott, you are right. thank you.

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  50. r

    amidst the chaos, a moment of quiet reflection…

    Now, where’d I put that damned howitzer?

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  51. Denzell Washington (Training Day)
    Denzell Washington (Training Day)

    (proudly) “My …..”

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  52. j

    Nice rant, moe.. What are you saying though?

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  53. T MOE

    j-

    I realize that 50% in a year seems too far too fast,but don’t you realize that the highs were all built on falsehoods. Banks were making huge money trading next to worthless assets. The biggest shell game known to man. The highs were bullshit born from fraud. Fraud ran rampart in propping up home prices and in originating loans. The truth always wins in the end. That is why I attack the banks with such vigor. these assholes are no better than the shell game played on the streets. Greedy liars who deserve to lose everything they have and get thrown in jail. Fuckem all

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  54. ottnott

    The credit markets are looking like herds of sheep invaded by alien robotic wolves. If the sheep can keep their heads, the real economy will find its base. If the real economy can start finding a base, the equity markets can start finding a base.

    The past 3 quarters of (likely) recession have seen substantial movement toward a base. Housing starts are at very low levels, low enough to allow substantial inventory absorbtion. Construction equipment is on the auction block at very high discounts. Those events bring us closer to the point where homebuilders can operate at a profit.

    Home equity withdrawal is down close to zero, from a high point of (from memory) nearly $180 billion/yr. Withdrawls can drop to net negative, but any big drops are done.

    Automakers are offering rebates even on 2009 models to clear inventory and are cutting production down to match demand. That’s a process that leads to a base.

    State and local government job cuts are still a worry, as it is a strong procyclical force. Federal loans to states are an option that Congress might take up if the financial mess keeps getting uglier.

    I’m also not happy to read that the FHA is acting like it is 2003 again and it is their job to make everybody a homeowner.

    I’d like to see some of the cash-rich companies making some investments. My memory may be faulty, but I recall a flurry of buyback announcements and merger activity after the 1987 crash. I’ve been surprised by the current silence. It may be because the quick option, buybacks, don’t get a very positive reaction from the market lately. Acquisitions take longer and have to be done for the right reasons. I think cash-rich tech companies will have a field day picking up new firms that have seen their IPO hopes disappear far over the horizon. Apple got big boosts in its cash hoard from investments in companies like ARM and Akamai.

    So, much ugliness out there, but a decent portion of the is progressing (though still in the downward phase) as one would expect it to.

    There’s just that little mess in the credit markets to deal with. On a good day, the Fed and the Treasury seem to be playing whack-a-mole while wearing a blindfold. Jeebus. Get serious with the banks. Tsking at AIGs junkets is a joke. Give the financial firms a list of “recommended” changes and actions, and tell them they are cut off from all the Fed/Treasury goodies if they don’t play along.

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  55. T MOE

    j-
    The tidal wave has started so learn to swim

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  56. Dogwood

    Anyone thinking we’re back to sub-2 dollar gas is smoking crack.

    $1.51 in Indiana. I predict $1 by January if oil stays in the 40s.

    Sure, might not last forever, but good times for now.

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  57. Johnny Rawcus

    “In some dark corners of the city, old Asian men sell gremlins to old white guys, in order to put food on the table” LMAO…..Thanks fo that!!

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  58. ottnott

    MOE, get a cabin in Idaho.

    You sound like you’ve reached a state where you’d run over a dog to kill fleas.

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  59. Woodshedder

    Yeah, we’re 1.70s/gal here in Richmond area.

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  60. j

    Moe

    You seem to have taken this on as a religious conviction. Sorry, but traders aren’t religious.

    You’re ranting.

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  61. Frollicking FINRA Fantastick

    And fledgling stock brokers, with an arrogant book of business, are suddenly saddled with large losses and several meetings with the frolicking faggots from FINRA.

    You will pay for that slander, bitch.

    See you at your next proctology exam. I’ll be in uniform.

    _______

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  62. T MOE

    ottnott Says:

    MOE, get a cabin in Idaho.

    Already here my friend with hundreds of acres of pure beauty

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  63. Needle dick the bug fucker

    doubled down on UYG, just look at SKF and UYG they are going in equal but opposite directions. This is an arb play shorting UYG and long SKF this will unwind with a strong rally.

    So i doubled down buying more UYG at 3.97!!

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  64. sniper6

    Damn, you guys. That’s Tool. More precisely, I believe, it’s Maynard James Keenan. Get with the fuckin program.

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  65. T MOE

    sniper- See my you tube post
    Great stuff to lift your morning spirits

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  66. the Bull

    “And, at the zoo, the retarded nice goat, named Leonardo, pecks away at Lester the monkey, as if he were made from grass.”

    Oh my god you are fucking insane!

    And funny as hell I might add.

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  67. sniper6

    Actually, it would be cool to get Maynard as a guest blogger, eh TMoe?

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  68. Blow Up

    Looking for DEVILDOG

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  69. sniper6

    Can’t watch today- dialup connection too slow- gotta come off the mountain for that.

    My phone is a string with a New Depression-era soup can tied on each end.

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  70. T MOE

    Very cool. My buddy had dinner with him a few years ago. Maynard was courting his sister who is the total opposite. My buddy told me that he was a down to earth guy but that he was hard to have a conversation with. He is kind of eccentric, like most of the really intelligent people that I have come across

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  71. T MOE

    It’s 6:00 am – time to feed the dog, login to my software, and re-count my coin.

    I like some other bears I talked to will be covering a little bit this morning. So enjoy the bullshit rally. It will set up for another attack round. If you guys had been listening to me the past few months you would be doing the same and counting big coin. I have been saying to attack the banks for months now, either by shorting them or buy SKF. That trade may be over done here for the short term as people take profits. I will be waiting for the opportunity to move in

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  72. Jakegint

    You have a gift, Fly. Comedic genius. If I had any criticism, it was that you referenced bok choy twice.

    Thematic tying.

    ________

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  73. Jakegint

    DXY down fitty cent again… but I’ve seen this teevee show before…

    Dollar MUST die for relief here. Treasury bubble MUST pop.

    ___________

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  74. Dinosaur Trader

    That was the first time you’ve ever whispered on this blog.

    A nice touch, the bok choy.

    Unfortunately, their work isn’t done just yet.

    -DT

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  75. Marlin Y

    The second best thing about a potential rally today will be Devil Anus’s disappearance.

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  76. Leonard The Monkey

    Hopefully your stocked up on Mad Dog.

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  77. T MOE

    Erin Burrnet must be sucking Art Hogan’s dick. She talks about his bullshit bottom every fucking day. I am tired of hearing it and will turn off the sound until that fine ass Trish Regan hits the screen

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  78. Juice

    http://market-ticker.denninger.net/archives/667-Tired-of-The-Crash.html

    Denninger is getting to be asshattish, if he wasn’t already. I appreciate the guy but he has now lowered his targets to SPX 300 & Dow 3000. He reminds me of the bubble bobble heads raising their QCOM & AMZN targets to 1000.

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  79. j

    ungood… JPM down just over a buck.

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  80. TuckerTrades

    My favorite blog…entertaining, thought provoking, and sometimes good stock picks….

    I bought Seeds last night at Home Depot so I can plant my own garden…too bad my soil probably sucks for growing any but Bermuda.

    BTW… LETS BLOW THIS MOTHERF’ER OUT TODAY!!!!

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  81. ZenProfit

    T MOE:

    Trish is the finest example of womanhood in all of CNBC.

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  82. DannyBoy

    JPM sucks today. Glad I didn’t sell all my puts yesterday.

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  83. Juice

    DevilDog – todays prediction, please?

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  84. j

    She’s got a fat looking face. Legs are ok though.

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  85. charlie

    Devildog would say we reach new lows today, yadda yadda yadda

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  86. Donny

    How can this bounce sustain without Citi? Answer: IT CAN’T!

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  87. ZenProfit

    j:

    I have met her in person. Cameras they use are like fish-eye lenses. She is very thin. Erin rail-thin.

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  88. Observer

    T Moe, you write like I shit.

    One long continuous smelly turd (no paragraph breaks) and about as apealing and funny. You no Fly, T Moe

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  89. j

    You’re right donny.

    Only thing is that there’s that story funds can’t hold Citi if it trades under 5 bucks so the market could rally independently of citi. But it doesn’t look like it at the moment.

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  90. charlie

    Vix spiked down. time to reapply the shorts.

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  91. DannyBoy

    JPM down 7%. No way we move higher.

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  92. Donny

    Yesterdays low in Citibank was just breached.

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  93. T MOE

    Not trying to be Fly, Observer. He writes far superior to me. I am not here to be a writer, but to get trading ideas. That is to do the opposite of what all bulltards are doing on this board

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  94. T MOE

    Bought more SKF at open and shorted more GS

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  95. Aris

    trish is great, but i really like becky quick.

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  96. DannyBoy

    I got to think a lot of shorts will cover before the weekend. I think we move lower all day but rally around 3:00-3:30.

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  97. jig

    good thing i’m a pussy and i dint buy C this morning…looks like i wont be drowning myself today

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  98. Donny

    Citi trades at 3 handle.

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  99. j

    I put in an order to buy citi at 3

    Here’s the thing. Their balance sheet equity says it’s worth $126 billion, while their market cap says it’s worth 20.

    I think it;’s worth more than 20 on a break up or sale. Fuck, even wachie was 7 bucks.

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  100. T MOE

    Citi looking very ugly. And my SKF looks very nice

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  101. Woodshedder

    Gee. Think C had some stop orders placed just under 4?

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  102. Aris

    the dow is mental. it swings 60pts in seconds, not even minutes.

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  103. ZenProfit

    C trades with 2 handle today. It’s over.

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  104. Donny

    I’m tempted to make a small bet on CitiBank. There may be a deal brokered over the weekend.

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  105. Juice

    Short RAH … in trouble technically & otherwise

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  106. j

    it’s over yet, Zen. It’s only over when the fat lady sings.

    here’s the thing, the Government is going to strengthen the guarantee and possibly make all banks protected species like they did in Oz.

    The feds have an idea what Citi’s books look like. if they think the market is over shooting they may tough it out. C has international ramifications.

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  107. Obama

    I tricked you motherfuckers good didn’t I?

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  108. j

    anyone have a feeling how GS and citi would look to the market in a merger if it is announced this weekend?

    I’m not sure the market would take it well. However the gov could sweeten it by offering guarantees.

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  109. Margin Call

    The government is basically paralyzed until inauguration day.
    Also, if people pull deposits, Citi is toast.

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  110. j

    here’s my bet for this weekends events

    Citi merges with GS with a govt. sweetener and MS goes with … umm possibly wells fargo even as soon as this weekend.

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  111. Market Fool

    If these financials go to nothing the system is pretty much done.

    Anybody interested in taking a flyer on JPM.

    Could be 9 or 29 by the EOD?

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  112. DannyBoy

    March 22.50 puts on UUP are going for .15

    If we are as fucked as the market is telling us eventually the dollar is going to fall like a rock. $22.50 on UUP brings us back to where we were over the summer. For only .15 it’s worth a shot.

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  113. Juice

    Precious metals seem to have found their feeting … next should be the materials & energy complex.

    I’m starting that piece of turd UYG today … its now a call option

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  114. Maket Fool

    Why are we trying to make money when the world is ending?

    I’m going to the kitchen to pour some expensive tequila in my coffee.

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  115. punyandy

    Stop saying “handle,” homos.

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  116. T MOE

    Obviously Citi is too big to fail. But a GS and C merger would be difficult since neither person at the top wants to give up power. Didn’t they already have a phone call on this, and Pandit said thanks but no thanks

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  117. T MOE

    Night Befo Crizzmus

    wus da night afo’ Crizzmus, and all thru da hood,

    everybody be sleepin’ and da sleepin’ be good.

    We hunged up our stockins, an hoped like all heck,

    dat dear Ol’ Obama’s, gunna brang us our checks.

    All of da family, was ly’in on the flow,

    my sister wif her gurlfriend, and my brother wif some hoe.

    Ashtrays was all full, empty beer cans and all

    when I heared such a fuss, I thunk…..”Sh’eet, it must be da law”.

    I pulled the sheet off da windoe and what I’ze could see,

    I was spectin’ the sherrif, wif a warrent fo’ me.

    But what did I see, made me say, “Laaawd look at dat”.

    dere was a huge watermelon, pulled by 8 big-ass rats.

    Now over all of da years, Santy Claws he be white,

    but it looks like us brotha’s,got a black un’ tonight.

    Faster than a poe’lice car, my homeboy he came,

    and whupped up on dem rats, as he called dem by name.

    On Biden, On Jessie, On Polosi and Hillary Who

    On Fannie, On freddi, On Ayers, and Slick Willy too.

    Obama landed dat melon, right there in da street,

    I knowed it fo’ sho’, – can you believe that Sh’eet!.

    Dat Santy didn’t need no chimney, he picked da lock on my doe,

    an I sez to myself, “Son o’ bitch…he don did dis befoe”!

    He had a big bag, full of presents- at first I suspeck?

    Wif “Air Jordans”‘ and fake gold, to wear roun my neck.

    But he left me no presents just started stealin my shit.

    He got my guns and my crack, and my new burglers kit.

    Den, wif my crap in his bag, out da windoe he flew,

    I sho’ woulda shanked him, be he snagged my knife too.

    He jumped back on dat melon, wif out even a hitch,

    and waz gone in two seconds, “democrat son of a bitch”.

    So nex year I be hopin’, a white Santy we git,

    “cause a black Santy Claws, just ain’t worf a shit!!!!!

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  118. j

    They did, moe. Pandit refused last time, but this time he doesn’t have a choice.

    I think the market is fucking nuts about C. It may have 4 more quarters writing off a few bill here and there, but it does seem to have ample capital especially tier 1.

    But the market speaks and we have to listen as you don’t stand in front of a freight rain.

    Bofa looks pretty ill too.

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  119. T MOE

    Why am I such an idiot?

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  120. Neil Sedaka

    Bennet Sedacca

    10:00:16 AM

    No positions in stocks mentioned.

    Pinball Wizard

    Pin risk exists in SPY at 80 and SPX at 800.

    It is possible that we gravitate towards that level.

    I remain neutral now.

    As for Citigroup (C), I believe it is a forgone conclusion that it will not be an independent enterprise much longer and that we must discount that in our thinking.

    To be sure, it makes me sad, as I used to work there and have many friends there.

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  121. T MOE

    Use your own handle. You fucking coward

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  122. Pimp Daddy Pope

    Anyone else looking at Gold and considering buying? The banks have been getting skullfucked relentlessly. Take a look at SKF $280.

    I am starting to think this is really the end of it. Hundreds of bank failures that end up devaluing the dollar.

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  123. Juice

    I would love to short SKF here over 280, but no borrow. BUMMER !! 🙁

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  124. Donny

    CitiBank ain’t gonna handle this the way Lehman did. They know what’s at stake. There will be a deal announced very soon.

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  125. Scully

    Long 2.5K DELL 9.15

    Shorted 300 more HIT 45.25…average lowered to 61ish

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  126. j

    Citi is handling it exactly the way Lehman did only more incompetently.

    Rumors they wanted to get rid of the limey chairman because he not in the US often enough… detached board…

    Pandit is a fucking inexperienced piece of shit who should never have accepted the job in the first place.

    The market is saying enough to those fuckers so they won’t be around.

    Citi doesn’t have a liquidity problem just yet and is currently well capitalized, however the upper management has no market confidence any more.

    The feds will get rid of the fuckers this weekend

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  127. charlie

    The Fed won’t backdoor bailed C like they did with LEH. C is walking dead.

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  128. Scully

    Long 1K JWN 7.5…for Ms. Scully. Oh yeah…and fuck Moodys.

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  129. Wowsa

    I am glad I picked up AEM earlier. It’s rallying like mad. Goodbye USD.

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  130. DPeezy

    Worry not, people! Once Earth’s financial system fails, we can move to Mars!
    http://dsc.discovery.com/news/2008/11/20/mars-frozen-water.html

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  131. DannyBoy

    PimpDaddyPope: I’m with you on that but I have been buying puts on the dollar not buying gold.

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  132. Scully

    Sold 2.5K DELL @ 9.45 from 9.15

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  133. charlie

    Well the good news is first ammo shipment from Sportsmen’s Guide arrived today. 1000 rds 9mm. Got a 1000 rds 7.62×39 back ordered till Dec. 22.

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  134. T MOE

    Fuck Moody’s is right. I’ve been short that bastard for a while now. They suck

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  135. scum bucket

    C reported that they have a strong capital position yesterday. Translation: We’re dead within 24 hrs.

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  136. DannyBoy

    Moody’s is the worse company in the world.

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  137. The Contractor

    C is well capitalized until they aren’t.

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  138. Pimp Daddy Pope

    Cool Dannyboy,

    I am playing it by buying Gold Miners. I picked up some AEM today at 29.50.

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  139. TraderCaddy

    In and out of UYM faster than the Mets can fall in a Sept.

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  140. Dipshit

    Hey I bought 50 shares of C at the open you think I should sell?

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  141. j

    dude

    that’s 250 bucks. Keep them. If they fail stick the script up on the wall of your study.

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  142. j

    This is really serious. Even BAC looks shitty now and in danger.

    suddenly Tarp looks like it has to be done again.

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  143. Juice

    DPeezy, unless you can breath carbon dioxide and live without an atmosphere, Mars will not support human life.

    Humans lived there over 10,000 years ago but cosmic events left Mars without an atmosphere. They had to migrate to other planets, earth among them.

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  144. Scully

    Long 1K WEN 2.84…square burgers survive Depression

    Stopped out 1K JWN @ 7.25 from 7.5…Ms. Scully really, really steamed…FUCK Moodys…I’ll be back.

    Preparing to D/T DELL again…8s on the way

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  145. Scully

    Still very short RJF…let’s see how hard they defend 50 for GOLD-SACKS

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  146. gappingandyapping

    Welcome back to death.

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  147. scum bucket

    Citi is stuck in the basement.

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  148. Scully

    Long 2.5K DELL 8.81…stop 8.65

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  149. gappingandyapping

    Citi is going under, no way around it.

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  150. Spaniard

    So who wants to take bets on whether UYG will be the first double long to go bust?

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  151. Scully

    FED on Custer’s horse @ GOOG 250 and GS 50 with billions and billions.

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  152. gappingandyapping

    Get this fucking Indian out of there, we are going to crash for fuck sakes!

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  153. T MOE

    Amex and Capital One are done. Amex going to 12 and Capital one to 15. I have been short both for a while although I did cover some AMEX yesterday.
    These stocks and the banks can’t make money in this environment. BAC, JPM, C have big big credit card exposure, securities that they thought they would be able to get rid of with the TARP. That’s why they are falling. who is going buy all those shitty assets?

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  154. T MOE

    So far this tape is looking very much like yesterday’s

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  155. Allen Greenspam

    I’m shocked!!…ok nap time

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  156. jig

    didn’t go all in but bought 10000 shares of C at 3.77..looking for quick trade for a few thousand dollar profit…

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  157. gappingandyapping

    Someone, anyone, do something. Don’t go on fucking vacation we need help. I see people walking out of the CBOT ready to stick the hot blade of death to their necks. We are in a crisis situation which does not warrant private jets, congressional vacations or partisanship. THE FUCKING MOOD IS DIRE TODAY! We can deliver 1000 cuts to Rick Wagoner later but today we must do something. I have personally never see it like this. People are not worried about markets but about what they will do for food tomorrow if tomorrow comes. People have to come together atleast for 1 week and try to sort things out. President Obama must announce his secretary, he needs to do something to deliver on those promises now, not later. Look I hate Obama with a passion but now is not that time, now is the time for help for us all. Someone needs to fucking man up and speak or we are truly going to crash.

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  158. Juice

    as Fly says, Bush is too busy playing choo-choo with Cheney .. those two should be hung from the highest limb of the highest tree for treasonous occupancy of the most high & trusted positions in the land.

    The Great 1/2 white/ 1/2 black hope will be on the job soon enough.

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  159. charlie

    Adding to FAZ -3x Financial ETF. Starting buying blocks at 9:30.

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  160. theman

    did Fly oversleep or is he roasting dog turds over a barrel of flaming garbage?

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  161. BOOMER

    Oh, the poverty!

    Oh, the humanity!

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  162. Scully

    Sold 2.5K DELL @ 9.31 from 8.81.

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  163. BOOMER

    DGP keeps going up. Bill Cara posted that long Gold here might be the trade of a lifetime.

    I’d be happy with the trade of the day, frankly!

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  164. Scully

    Well…2 trades, $2K gross on DELL minus $150 on JWN (Fuck Moodys)…done for the day.

    Long 5K of square burgers now 2.83 avg.

    Ms. Scully if off to blow $200 @ Fuck Moodys while I sit through Quantum of Solace matinee. Expect C to have merged with GM in 120 minutes. This market is very gay.

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  165. DB

    Gapping- we got soft man. We lived off the fat of the land and got bloated on instant gratification…We are now paralyzed. We know we need to do something,but if the option isn’t on our 120 channel remote control,well that would be just too much trouble.

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  166. Paradigm Shift

    Personally, I’m glad the government is leaving for vacation…

    They do less damage that way.

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  167. cheesefries

    gapping-

    Buy Buy Buy

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  168. Juice

    Buffett is out there desparately buying stocks & futures (hand over fist) to keep the S&P above the point where the derivates he wrote don’t sink Berkshire and his entire life’s work.

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  169. cheesefries

    TC-
    Fully loaded on UYG heading to Pawleys Island for a little True Blue/Caledonia, might squeeze in Heritage Plantation. Let me know if I need to start stock piling oysters.

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  170. Woodshedder

    Cheese, I’ll take a bushel, but I’d prefer them if you get them from out in Bulls Bay, just down the coast.

    It is a class 4 wildlife refuge, you know. Oyster’s don’t get any better.

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  171. Jakegint

    The Great 1/2 white/ 1/2 black hope will be on the job soon enough.

    Wrong, he’s on the job right now. Two sentences from him drive this market back up 1000 points, for a start.

    “Ladies and gentlemen, let it be know we have no intention of raising capital gains taxes, in fact we are thinking of cutting them. Also, we will not raise income taxes and are considering cutting the corporate tax rate to 20%.”

    Those two sentences would make him a hero, from Day one.

    Of course, those two sentences would also make him a Republican.

    ____________

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  172. voice of Chinese

    it is time to learn Chinese

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