Everything you think you know, you don’t.
Stocks are designed to make the corporation money, not you.
Technical analysis is the new “Zoltar the Teller”—pure rubbish.
The market is now the equivalent of the Wild West, circa 1870’s. Therefore, be sure to make your stock career short and sweet, otherwise it will destroy you. No matter how good you are, it’s only a matter of time—with exception to “The Fly” of course.
Finally, the vanity of Christmas makes me sick.
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The Fly is God.
The Fly is God.
Paganism is probably where it’s at.
Fly, you put down some serious trades over this year… Be proud, drink merely, and enjoy the holidays. You are a fuckin beast!
ZM
And you’re a moose.
Merry Christmas Mr. Fly and Fly Family!
In regards to Proshares…. which I know you can’t or won’t stay away from like my buddy who keeps telling me every weekend that he’s going on the wagon.. for reals this time… you supply the matches, market supplies the gasoline.
I know you’ll hate me for this but keep up the good work. You’ve been the voice of reason and have saved me well over $4000 in horrible Cramer like picks. No seriously. Thank you.
I have been following the Fly since August or so….
along with several other bloggers. While the Fly curses and hollers a lot, he has one quality I really like:
Admits defeat and that feels like he is telling the truth. Some of these other bloggers seem to say that they are winning and never do I hear a loss. I just dont think any of them are telling the truth.
Short RIG?May drunken oil workers piss in your time machine.
Oh Gawd, the TA is Mumbo Jumbo statement.
Look at my recent post of Cuervo’s MA(5) system.
Behold the course of the time machine becomes enveloped by entropy. Odd, no?
A good dissertation topic? Yes!
The market treats most of us like the clown in the dunk tank at a redneck fair in the deep south. You hurl balls at the clown hoping to drown his sorry, insult hurling ass. When you do, victory is short lived. The degenerate clown hops back up and declares ‘High and dry. You’re next. You try’.
Congrats to the Fly, Woodshedder and Tim Sykes. Anyone banking serious coin in this market is lucky, good or both.
stop this “The Fly” nuthugging…
Dave, thanks. I have banked coin, but not what I believe to be “serious” coin. There is always next year!
I hope to be good, with frequent stretches of good luck…
^^^^^^^^^^^^^”The Fly is God”.
Nonsense.
I can see Russia from my house.
I eat at International House of Pancakes (or ihop as Six Pack Joe’s call it).
Don’t tell me I have no internation experience.
Thank God, Joe the Plumber, Tito the Builder and Lara the Hooker don’t believe your crap. They are on my side.
I wish Merry Christmas to the Pro-America part of United States of America.
P.S: Johnston’s mom is a b*tch
the market only exists to inflict the most pain possible at any given moment.
it’s really great.
HA! We still have doubters here!
Join The Church of The Fly or fuck off.
The Fly is God.
Wood, that’s because The Bamboo turned you into a piker. You will never get the big gains without big risk with that useless dried out wood.
4fl3x, AKA CubsRock: What are you talking about?
Whats the deal with that ProShares distribution? Is that just another facet of evil that is ProShares? Some of these ETF’s are down 25%+. Seems like there is going to be a rash of heart attacks this morning when people wake up.
Who is Sarah Palin?
im glad i dont do this for a living …its just a way of fuckn around from time to time while working
I have a feeling Christmas ’09 will be more about the intangibles and less about materialism as more people lose their jobs and are forced to live on far less.
Fly – you hit the nail on the head with “Stocks
are designed to make the corporation money, not you.”
Take DXO or USO for example. Anyone buying either of them thinking crude was cheap at yesterdays price of 33 or 35, wakes up to crude back at 40, yet DXO & USO are unchanged, before they head down.
All of Wall St is one HUGE Madoff Ponzi Scheme, and particularly the ETF universe. They are designed to ‘make the corporation money, not you. Fuckface’.
Anyone trading ETF’s have been Madoff’ed.
I own eight cars because becasue I clock the etfs on a regular basis. I am the corporation motherfuckers. Merry Christmas Fly, maybe I’ll let you drive my brand new crossfire.
Merry Christmas Fly, thanks for ’08 and the best to you and your family in ’09.
Ditto to Juice ,Wood, Ant, Bocca and all the other’s that come to the house that Fly built.
How is your SRS?
Hah, what a complete joke.
where’w safest place for money in the face of economical apocalipse / war ? phisical gold ?
WTF happened to SMN?
He may not be God, but he’s definitely a market genius. To pick the entries that he does without technical analysis is uncanny.
I’ve never seen the spread between DIG and DUG like this. What’s up?
Dump in etf’S YESTERDAY = nobody wanting to pay tax on dividend declared last night?
Wow. My recommendation to sell short SMN yesterday at the close was sure a money call. I’ve got it down 40% right now. lol
Dear Mr. Fly,
Thank you for your email regarding ProShares. We are sorry to hear that
you are not happy with our products.
Per the attached prospectus,
Because the value of proshares are not computed based on the value of any underlying assets, please do not assume to actually make any profits from our products. If you graph most of our proshare products, you will see that they’re headed to zero.
In the end, the Funds are designed to accomplish their objectives on a
daily basis. As a result, you shouldn’t expect the Funds to provide
200%, -200% or -100% of index performance over longer periods. If you’re
interested in more details about the Funds’ longer-term performance,
please see the description of correlation risk in the Funds’
prospectus, which you can download at http://www.madoff.com.
Sincerely,
ProShares Shareholder Services
How about the DevilDogs SDP ? -45 WTF!?!?
Distribution is going on in the ETF’s right now. I think thats why they are printed fucked numbers today.
How much were you short Wood, yeah that’s what I figured…
Nice call though.
Distribution or no distribution http://finance.yahoo.com/news/ProShares-ETFs-Declare-bw-13897224.html
these ETF’s are Madoff plays.
I may have to take Fly’s oath of putting them on the restricted list, except for day trades.
DDOG fucked…he has to pay ordinary income on the $45 distribution. Seems to me, even if your position was break even, you have to pay tax on distribution.
Gramps-
It is my understanding that DUG is gonna make a large distribution … about 6 bucks.
There are some big dividend payments coming from what my income estimator shows. Shit it shows EEV is like $350 per lot. I remember when I had SRS it was higher than that.
As usual, my largest etf is DBC and that pays diddly.
Hey what’s up y’all?
Just drop’in in to say hi, see ya soon!
The Fed, bailout… is a giant ponzi scheme, with the current investors (taxpayers) paying off earlier investors (AIG, C…)
The only difference being that the taxpayers are not willing investors. Their money is being stolen and “invested” for them
Thanks Doony. Nice link Juice, thanks.
Wood – if you borrowed SMN, wouldn’t you need to pay the distribution of ~$27 per share to be paid on 12/30?
Skyb0x, that is correct! It would be a wash, if timed correctly.
Obviously theres a distribution day trade on these diETF’s. The play is to check the distribution amount and buy any egregious overshoots.
I picked up 500 SDP at 30. It should have only been down 28ish but it overshot as retail got Madoff’d. I already dumped it at 46 for a quick 8k. Watch that trade get broken. If so, I’ve been Madoff’d. If not, someone else has been Madoff’d. Either way … Madoff lives.
Flay bought 3000 SMN at $68. This morning it was trading at $41 with a $27 distribution coming. Looks like Fly is fucked into paying over 36% ordinary Income Tax on that $27.
Ouch!
“Fly Buys
I bought 3,000 SMN, a touch under $68.
Disclaimer: If you buy SMN because of this post, you will become addicted to the stock market and develop a minor case of hypertension. And, you may lose money. “
Bennet Sedacca
09:00:15 AM
Posiition in TBT, PST, TBT options
Is the long bond reversal under way?
My firm was targeting 2% 10’s and 2.5% long bonds for a while. It feels like the trend was/is exhausted in everything from the 5 year to the 30 year.
As mentioned previously, we are betting against bonds via long positions in TBT, PST and TBT calls.
Importantly, my firm has entered the negative time of year for Treasuries which lasts all the way into May 2009.
Unless 2% and 2.5% are broken, we will remain short.
you may be sued if you don’t TM “The Fly”
How many people had stops on those ETF’s that got taken out? The fuckery continues.
“Finally, the vanity of Christmas makes me sick.”
I’m with you on that.
So I assume if one bought some of the 2008 profitable 2X and 3X just prior to the distribution then one is screwed tax wise on the distributions if not in a tax deferred retirement type account. Then this would be no different than buying just before a mutual fund goes ex-dividend? Correct or not?
Merry Christmas to you too Granpa, and to your family.
Mr. Fly,
These ultra ETF’s, capital gains distributions, etc. are pretty rough. In fact, I used it as the inspiration for the lyrics to this song.
http://www.youtube.com/watch?v=4392ZCNt-KA
Crude down another $1.33.
Fuck You Exxon Longs!
http://www.youtube.com/watch?v=jKb0v27N3xc
MSN Money’s Jim Juback dares Fly to punch his Lech Walesa moustaches off!
(And Donny too.)
_____________
Those fuckfaces broke my trade!
The game is rigged! When you lose, you lose, no TARP money for you. When you win, they take your winnings!
BAC asking for bailout for Christmas?
Maybe this is a silly question, but wouldn’t the madoff thing cause a stampeded out of hedge funds. When could that happen at the earliest possible time?
Biden speaking is better than Meredith Whitney. Look at XXX inverses take off!
We wuz robbed.
Fly wuz robed.
Odd, no?
LFC tankage, breeheehee!!
DEFALATION!!! Memorize it. Over 10 trillion in US household wealth gone Poof! Corporate and government losses too. More to come, not to mention worldwide losses. The Aussie dollar and all currencies related to commods will go further down with commod prices.
DEFALATION is a new word just coined by me. Similar to DEFLATION!!!!
Nice call on the oil short
SDP was halted and they are breaking the trades. Put it on your streamer and watch the volume get reversed. Never saw that before.
Uh, DD, you were told that sds was better than SDP, no?
Wow…those Proshares are complete pieces of shit. Now they’re hitting people with enormous short term capital gains. How can they stay in business?
If the Fly still owns any, I’d urge him to give that fucker who manages Proshares an “honoary” asshat of the year award.
there is a time to hold them
there is a time to fold them
there is a time to buy crude
bought 100 contracts 38.58 using 0 margin
sold UNG $2340.
Fly,
Time Machines are for asshats. Technical analysis is the only way to trade this shit.
Not even Bernie Madoff claimed to use TA. Turn your chart upside down – it is the same chart.
BTW, no S.T. CAP GAINS for me on SDP. I knew a distribution might come on etfs at EOY and bought my SDP in my IRA. I win.
The market is still an auction, and there’s nobody but sellers and buyers and those waiting to be sellers or buyers. Mr. Market can screw with your “trading system” or your fancy technical indy-cators, but he can’t hide prices and he can’t hide volume. Just like a real auction, wait for the people to get stoopid and frothy in one direction and then go against the crowd.
Maybe the inverse ETF’s are getting dumped cause of all the shit people be talkin’
kidding