I haven’t had so much fun, losing money, since the dot com blow up of 2000.
Back then, I was young, rich and incredibly brazen. I’d buy 10,000 shares of CMGI @ $250, as if it was on sale. I’d cover personal margin calls, intra-day, only to find myself in a mind boggling equity position, first thing the next morning.
Oh how I miss the good old days when dot coms blew up in my face and my small fortune just vanished into thin air, as if it were made from dust. Poof.
Since then, I rebuilt my small fortune, amidst market turmoil, learning many lessons along the way. However, from time to time, I forget the answers.
Meaning: My playbook said to sell on Friday; but I was too busy sleeping in, hungover from the Turkey feast of the day prior.
Just know, I never sleep in and never miss work. Bad habits create enormous problems, mainly of the financial sort. Also, I never drink before a work day and never, EVER, do drugs. Instead, I concentrate my efforts to learn my trade. It’s always changing, in an attempt to trick people into egregious negative equity positions. However, if you listen very closely, you can hear the train of financial ruin barreling forth.
I take those tracks and spit on them, prior to blowing them up with idle supplies of c-4.
With all that said, I lost a staggering 9% today. To be honest, as opposed to outright lying to you, 9% days are all the rage on Wall Street these days. For fucks sake, if I am not up or down 9% in a session, I get worried.
Ten minutes to the close, I doubled my FXP position, sold out the remainder of my UYM and initiated a small position in FAZ.
In closing, my position is still bullish. However, I have no patience to ride this fucker down another day.
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Up $43 on SRS today and I never even thought about taking profits. Where the fuck am I?
1st
check out the action on the last hour of IYR, that’s like parabolic lower (dunno wtf is going on there)
Now presenting: America’s IT Department
It just dawned on me that The Treasury Department and Federal Reserve are, in a way, like the IT department for America, minus the I plus Bill, if you catch my drift. They’re the two backoffice jerkoffs that read about and slightly understand subjects very seemingly technically difficult and try to elucidate problems a “common user” may have in a very hand-in-cock-know-it-all manner but to those with any bit of technical and social intelligence realize they hold nothing but rubber cocksabers. These “men” roam the office slowly down cubicle corridors with tense trigger fingers on their blackberry holsters ready to spend more money and purchase updates to fix the latest bugs. These “men” have constant wandering eyes, cut out their pant’s pockets, and autohide their Start Menu to avoid porn raids. These “men” are in fact cockless and fucking servants to ignorant men who are afraid to assert power over something they choose to not understand.
Our karma is rented. The infinite is sending out invoices. Pandas are running fierce ripping off the faces of Investment Bankers wearing knock off Canal street D&G sunglasses. The streets are watching. Wake up lil’ monster you’ve got work to do.
I’m Suzie Orman’s beaver tender, why do you think I hate credit and leverage.
I REALLY hate that bald headed, stuttering fucker who calls himself Treasury Secretary. The man is a fucking moron. My 5th grade daughter could run circles around that idiot when it comes to public speaking skills. Someone, PLEASE, put that stupid stuttering fucker 8 feet under.
This is the Raptor speaking:
As you know, I’ve been 100% in cash from before we breached 820 the first time. With today’s market action, I see we’re trading below that level once again. So what to do? Well, being up 41% for the year and looking forward to welcoming new clients to my shop in 2009, I can honestly say that I don’t intend to chase much of this tape before xmas. In the event that we test 750 again I might try a few longs. Until then I’ll just fuck around in small-sized FX options (that shit is always fun).
I would yet again like to recommend 99,7% of visitors to this site to begin doing something else than trading for a living. Most of you are gamblers and don’t respect our profession (trading and consistently make money for a living). You have lost money for several quarters despite seeing the Raptor predict this epic bear market more than a year ago (“The Fly” will confirm this shortly).
Have a pleasant evening.
Fifty-Fifty Clown – http://www.youtube.com/watch?v=OnghrB86A4c
So, Meridith Whitney drums up some fear regarding CC debt, and you pussy’s sell the market off 8%.
Better sell your longs.1 day drop rape your whole week gay ass turkey god rally.
That was the Raptor speaking, everyone, take note. Well, he was actually *typing* but you get the point.
Rapter, Who lost money while following Master Fly?
I’d suggest you get out if you think 750 is the bottom of this shithole.
Perhaps the Lieutenants who called this one deserve some respect? Nevermind, stupid idea.
We retraced 51.5% of the move from the intraday low of DJIA 7507 on 11/20 to last Friday’s intraday high of 8831. All is not lost….. Just really, really messed up.
Wave C said it is Wave C and to deal with it.
Raptor: your so called gains are about to be expropriated for the good of the nation.
Keep up the arrogant tone, tho – it will help I’m the difficult years ahead.
As an aside, Old Beardy had his biggest day ever on srs, web, fxp, and an array of puts.
Also, Suze Orman’s beaver says ” Meredith, don’t quit your day job.”
That is all.
Scary shit FLY! It sux knowing decades of personal wealth can be largely wiped out during a dysfunctional year in the market. I know plenty of people that were wiped clean in early 2000 and many accounts have gone bust again. My hard earned money will not be donated to this cess pool of a casino.
10% day is the norm now, but just wait, 20% days will be even more fun.
This world is going into it’s shell. correction it’s hell.
It’s against my nature to believe the U.S is crumbling. Our nation will not die, but it will be known as the “United North American Union” or some crap like that, and our children will not understand freedom, and they will be brainwashed to love serving, which isn’t much different than how we serve the government and federal reserve first, then ourselves 2nd.
Drybulkship rates this low? bond prices?
oil prices? is there any activity on this planet?
Mr Market seems to be pricing in all sorts of bankruptcies.
depression, or an even greater stagflation period than the 70s?
Follow the trend into the abyss.
2009 will be known as “the last breath”. Breathe while you can before everyone is underwater in taxes regulation and in a couple years inflation.
Then when things really get bad, take a little profits off and buy a bomb shelter and stuff. Then get long food and commodities in a major way, load up the shelter with the basics, food, water, weaponry.
and prepare to come out with guns ablazing into the world 3.5 years later, buying up land for less than a gold coin each. Or a silver bullet, whichever they’d prefer.
They need to make a 3x version of SRS.
So get this, I’m at a gig, you know, talking to the kids and shit, and this runt jumps in my lap. I’m all like “HO HO HO, what do YOU want for Christmas?” And he says he wants the latest gadgets from Apple and Nintendo. With a big shit-eating grin, he says he wants a “Touch” and a “Wii”. So I say “Ho ho ho, check the red suit, shorty, I’m Santa, not a Catholic priest. I ain’t touching your wee. Now get lost.”
Then the church got reaaally quiet. Dumb kids. That’s what happens when Santa runs out of good bourbon.
Anyway I just wanted to let you guys know, the Santa Clause rally is coming, just as soon as I find that fucking button. Maybe one of these midgets can help my ass out. Sheeit.
http://www.youtube.com/watch?v=FwsntHcWiy4
Poof! Your bullshit day trader induced ultra-light volume hallucinated pump monkey rally is gone.
Oh yeah, and the homo hammer of death goes to the once-a-day trotsky brothers who can’t keep their pie holes off the air for a single working day. Decent folk should definitely stay indoors until this thing blows over.
Soon we will tell our grandchildren what it was like during the “golden age” when there was all sorts of technology. We will tell them what a TV is, andhow everyone could listen to anything around the planet on their computer, and then they’ll say “whats a computer”.
Everything will be backwards as we remember it. Rather than our grandpas and grandmas and old farts telling us about how bad things were and how lucky we are, we will tell our grandchildren how lucky we were and how bad things are now.
Well, down over 600 points means that DevilDog should finally be posting again. I predict he will be here within the hour.
Buffet will be down 75%.
Today on Shadowtrader, Brad said the dryships was getting something like $90,000 a day a few months ago and now they are $7,000 a day.
the only thing that will be able to save us will be a huge nanotechnology boom and a revolation in nucular fusion, cold fusion, zero point energy, etc, or someone bringing back Teslas patent that would have made energy free and abundant to all, and successfully carrying out his invention.
Oh NO!
MOS AIC just put out a press release lowering guidance!
http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/12-01-2008/0004934417&EDATE=
$23 in after hours
sucks. it’s as if it was just last quarter that MOS was in the triple digits… oh.
You guys remember that day back in March when the market dropped like 500 but it turned out to be a computer glitch at the NYSE but still everybody freaked out?
Ha.
The only thing that kept me from blowing up my own small fortune back in the dotcom bust was a little cowardly voice telling me to sell everything and go to cash. With a fraction of Fly’s trading skills I could have done much better. But this market makes the dotcom bust look easy.
I look forward to the PPT, but still believe this market is too spastic for anyone who isn’t on it hour-to-hour with a plan and crazy trading skills.
That, alas, is not my own coin-flipping self.
to the PPT…”Time to come back to me sweetheart?”
Tanta dies, the market drops 8% – a fitting tribute.
When does the Santa rally start? Maybe if we could spend the bailout billions on a new holiday or two we’d be safe and warm again…
-DT
If you want to read a great article on how the Baby Boomers f-ucked us:
http://seekingalpha.com/article/103202-the-shallowest-generation?source=article_sb_popular
MOS in the 22’s A/H
“Aristotle Says:
FXP is the Devil’s instrument! Fuck those yellow skinned bastards with pointy heads!”
Aristotle: Cut the racist shit. We have traders from all over the world on this site daily. Even Martians visit the site. Look the shit out!
The Fly is God.
In the dotcom, much money was invested foolishly with great conviction.
Foolishness never goes away, but there is no conviction today.
Zombie makes a lot of sense for a re-animated dead guy.
_________________
No conviction even for the guilty fraudsters, unfortunately.
I hope that changes.
Anton: HA! Thanks. Like my new pic? I’m lookin’ GOOD.
Zombie,
May I recommend my barber?
Convictions would help.
If we want purchases of securitized debt to resume, we need at least one of two government guarantees:
–a really expensive guarantee that taxpayers will cover losses
–a much cheaper guarantee that those peddling crappy debt as investment-grade debt will be make a long visit to Gitmo.
Zombie: the new maggots look great. My compliments to your image coach.
Zombie – You’ve got something in your eye… 😉
it is a fucking mess out there.
did treasuries actually BTFO?
Haha @ DT. I think you’re on to something there.
Ford CEO Alan Mulally to drive to Washington DC to Beg for Money II…but, no corporate jet for this Grandboss…he expects to make the trip in his Lamborghini LP640 Roadster in 4 hours from his Bloomfield Hills estate.
is the terrists attack on mumbai just the beginning?
Ok you greedy entrepeneurial razor tongued eyebrow raised to Allah stock market geisha girls, I posted saturday that I had no intentions of having my ass lobbed off today and I didn’t. My short squeeze victories were secured friday afternoon and at this mornings open. Now it’s just a waiting game for me. Hopefully I won’t get trigger happy.
BTW, no more Mogen David and Wild Irish Rose for fly’s thanksgivings. And Danny, that was a kickass post on your technical analysis of resistance.
I find a little comfort today coming here to find out The Great and Mighty Fly lost money. It makes me feel better….why?
Misery loves company.
BTW MR. Fly I bought KBR today after it droped first thing and then rallied a bit…only to crash even harder.
I should be running for the door….NEWBIE that I am….instead I keep thinking how much worse can it get?
I cant make the money fast enough to keep up with the money leaving…
GOD….I cant stand it when Bernanke and Paulson talk…I had hoped for an afternoon rally till they showed up.
Pisss….POO…Du Du……
Fucking edit fucktion.
Anton: I think I need to start with a shower and a beautician.
Yogi: HA!
Ottnott: Thanks much! Agree with you about the conviction(s).
I thought a good start would be a tax levied on the c-level management and boards of all those institutions that took bailout money.
I’d make it a sliding scale from 95% of net worth for the Dick Fulds and Hank Greenbergs on down. And pull every donation of cash, art, etc. these fucks ever made to anything other than a hospital or orphanage. No more memorials with wings donated to MOMA.
Greenberg, for example, told Charlie Rose that he was “wiped out” with AIG’s stock drop. From billions to (under his breath) “a hundred million” or so. Dick Fuld made over half a billion in straight up salary and bonus over the past ten years. Their regimes have cost the country hundreds of billions.
Criminal prosecution takes time and rarely delivers justice to these executards. But congress can tax anybody. We’re all going to be paying for generations; I say start with the bad actors and take away everything.
And yes, I know that will never, ever happen.
oh yeah, that was a good chart analysis by King of PG too.
The former King of PG is henceforth known as the Technoviking of PG.
FRAK! FRAK! FRAK!
Glad I am using an alias ……
fly, I had a blast today too! S&P 6 handle next week!
BAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!
Best day in the market in a very long time. Long 3,000 FXP and 250 SRS from last Wednesday…..still holding long….wish the number of shares were reversed. Thanks to all for your great commentary.
Fly rules.
SRS was on a roll today, I sold at the close, but would have liked to have held on. Hopefully tomorrow will give me a decent re-entry point.
Panic Up Panic Down Panic in the Fucking Wal-Mart. I thought people got trampled to go see Mick Jagger not trying to get an LCD.
What a chilling day, I knew when I heard BHO that the JuJu was not there. It just kept getting worse when they marched everyone in front of a microphone all day long. Dog this shit is going to get personal real fast. Shorts/Longs I would not be rooting for negative outcomes right now. This is the part where we see blood.
WAG,ITW,JNJ,GRMN,SNDK, get ya some.
So this raptor clown thinks his market activity is “investing” but others is gambling…
LMFUCKINGAO
Dude, you didn’t get the memo did you?
The markets are one big fvcking casino and always have been you fuckstick.
LOL, time for another cocktail
http://s4.tinypic.com/2l5ro8.jpg
Looks like tomorrow is a turnaround day.
The Dipshitzes writing here are all bearish.
What about the weekend, and last friday when we were all bearish?
dipshit.
BOJ to hold unsheduled meeting at 1.00 p.m. local time
Australia’s central bank will probably cut borrowing costs to a six-year low, extending the biggest round of interest-rate reductions since a recession in 1991
Governor Glenn Stevens will lower the overnight cash rate target to 4.5 percent from 5.25 percent at 2:30 p.m. in Melbourne today, according to 15 of 21 economists surveyed by Bloomberg News.
Don’t go all Jeff Macke on us 😉
Anyone know what SSF is trading at?
In other news, people are getting bearish again. Watch for those people to dive headfirst into the recession pool, at the first sign of weakness. Much to their chagrin, “Santa Fly” has populated the deep end with hungry alligators, in a very egregious/demonic sort of way.
Cheesefries.
BOJ has top go back to ZIRP.
The RBA will/should cut at least 1% even possibly more.
Fly
I think you’re right.
I pair traded Rio/long BHP
Charlie,
I ended up unloading the GM and F jan calls that I picked up Wed. Put in a sell on the opening bell this AM. Ended up 68% on F side and 35% on the GM side… Was gonna hold until experation but just… well… decided to take what was given and shut up. Good luck in your entry today.
Fly is all bullish and sheet, but he keeps a bag full of FXP just in case.
FYI — that was not “the Fly,” above ye, there, j.
__________
Santa Fly:
Is that before, or after, India nukes Pakistan for sending in terrorists to kill the jews?
We’re going to zero.
Hey People
just watched this lustily bum Shaking Video on youtube…
check it out!
http://www.youtube.com/watch?v=BsoHCukkeUo
May you can share something similar.
happy watching
mastablubba