I had lots of errands to run this morning. After all, it’s fucking Christmas and I do not have the time, nor the inclination, to just sit here and blog, and shit.
Much to my delight, the market reversed and went lower. This is especially amusing after my weekend capitulation post, exclaiming the virtues of depressed economies and inexperienced leaders.
Never mind that. That was “silly ol’ Fly” playing a joke on ya. Why, he was just clowning around, while shooting “Fuck Face Frank” out of his clown cannon, into a field of stringed beans.
I am heavily short oil here. Thus far, this so called short position of mine has yet to yield returns. Let it be known, I shall win this battle, through attrition, once all of the old/asshole oil bulls retire to their fucking mausoleums.
Banks are getting smashed, which is pretty cool, since I sold half of my FAS on Friday. My FAZ position is almost free to run like purple pony in an open field of grass and daisies.
Finally, SRS is a steal down here, as well as FXP. Flip a coin and decide which one you like more. Nothing else seems to work. You might as well try random choice for a change.
Off to the local shopping center.
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For the love of Odin’s beard, was the Fly wrong with his prediction?
How can a guy that travels and have seen the future make wrong predictions? I mean…that’s…just….not…smart…
I think Oil is going up and fly you better get with it. long term support @40 a barrel and its holding strong my friend. enter DXO and USO
Yeah, thus far the writing for bullish oil is all over the wall, man.
It’s just pistol hot.
“Clown cannons, stringed beans, purple ponies and open fields of grass and daisies…”
Finally feels like Christmas.
I still don’t think you get how SRS and FXP work.
when you say “down here” — you are making a big mistake in understanding what SRS represents. As it ‘resets’ every day — SRS is near the ‘lows’ because it will always be cut in half or more whenever the index rallies. If the real estate index goes from 30 to 2… SRS will be up 200% or so. But if it then rallies from 2 to 4… SRS would lose almost all of its value…
If you like SRS then you should look at IYR and feel confident it’s going to roll over soon, otherwise SRS can easily trade under 50 as the counter rally continues.
As ‘inflation’ trade is back via weak dollars…. gold and oil are catching bids but funny dollars may also go into real estate for the short term.
The real problem with SRS is, once it drops to 50, and you paid 80… you need the underlying real estate index to drop 30% to break even.
Feels like the market just won’t take bad news for now…
When I write something, I know full well what I am saying.
SRS down here= VNO, BXP are expensive.
FXP down here= CHL, PTR, LFC expensive.
Buy TBT then.
fly i think the 10ft tall lady with brass knuckles might pay u a visit to talk abt ur bearish call on oil pretty soon.
States Running Out of Unemployment Funds from NYT
With unemployment claims reaching their highest levels in decades, states are running out of money to pay benefits, and some are turning to the federal government for loans or increasing taxes on businesses to make the payments.
Thirty states are at risk of having the funds that pay out unemployment benefits become insolvent over the next few months, according to the National Association of State Workforce Agencies. Funds in two states, Indiana and Michigan, have already dried up, and both states are borrowing from the federal government to make payments to the unemployed
http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html
FLY Im sticking with my DXO still waiting for more upside in oil to sell but as for XOM I would sell outa that TBT how long can rates stay at this level or lower or how fast and at what rate can they move up?
My wife wants me to take a break, run errands and pick up some styrofoam candy canes.
I have no idea why I cave in to all the lunacy this time of year.
Wait for the XOM downgrade.
WAIT FOR IT, WHILE IN THE FUNNEL.
quick, someone get Fly out of the Oil funnel.
LOL!
The Fly needs more advice from the likes of all you all.
No — respectfully — you don’t get FXP
FXP down here does not mean LFC is expensive at all…
FXP down here means FXI — recently had a significant percentage change in price. That’s all it means. It does not represent value.
FXP and SRS can provide huge gains but your entry must be pinpoint accurate. IYR may or may not flop over. I see big volume going in and low volume pulling back.
SRS will probably jump 10% soon but possibly give back all of it again. Must be ready to jump in and out fast. It’s about change, not value.
Douchebag:
I suppose you believe, with your marvelous mind, that FXI and IYR are self sustaining entities.
Idiot.
CHL and LFC are the LARGEST components in FXI.
SPG, BXP and VNO are the LARGEST components in IYR.
Pretty simple stuff.
in the funnel.. and enjoying it. $$$
Somebody blow on KBH for me, that stubborn pos.
in the funnel
IYR and FXI are at what they at right now because CHL, LFC. VNO, SPG etc.. SRS and FXP are at what they at because of IYR and FXI, but more importantly compounding slippage.
Hey FLY the XOM downgade will come when Obama raises tax on big Oil.
Glad to see lots of oil bulls running around here!
Oil to $30; retail regular unleaded under $0.90 early next year.
Oil loving Middle Eastern Sheiks are throwing their shoes at the Fly for his blasphemous call on oil. Soon camels will be shitting all over his white robe and sandals.
Odd, no?
My brother works in an institution for the criminally insane.He walked by one of the inmates yesterday and said;
Hi Bob, how are you? Bob replied, I’m not Bob.
My brother then asked, Who are you?
Bob replied, I’m T BOON PICKENS!!
My brother then asked, Ok T BOON, Where is the price of oil headed? T BOON replied, thirty fuckin dollars a barrell.Odd no?
If you think T. Boone feels bad you should see Oklahoma State Univ. feels.
http://www.faniq.com/blog/T-Boone-Pickens-165-Million-Donation-To-Oklahoma-State-Football-Is-Completely-Gone-School-In-Massive-Debt-Blog-12968
trader caddy,
that is TOO fucking funny! Time for a new “Picken’s Plan”?
Perhaps they will rename the stadium, “Dumb-ass Stadium”.
T Boone Pickens – Clearly an “ASSHAT OF THE YEAR” nominee!