Fuck this market and everything it represents. I have decided to make no big moves, for the rest of 2008 (unreal discipline, I know). As I discussed before, end of year tapes are riddled with assclowns who enjoy whipsawing each other out of field cannons. At the present, my cash position is about 50%. I will make a sincere effort to up it to 60%, early next week.
My top holdings are shorts in oil and banks. However, I respect the power of men in idiot boxes and will deploy capital to the long side, if needed.
One way or another, the market gets raped in January. The question is: will it happen right out of the gates or after Obama’s inauguration?
In the event that I am wrong and we go straight up, I am prepared to eat a healthy serving of humble pie and join the Fucktard Festival, dressed up as a CNBC anchor.
Bottom line: this shit is for the birds; I’m out of here.
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What’s your take on gold for 2009?
I will post my predictions for 2009 on Sunday night.
Um, the time traveling must have screwed up your sense of our time-continuum Mr. Fly…
I have decided to make no big moves, for the rest of 2009 (unreal discipline, I know).
Do you intend to do nothing next year?
It’s still 2008 for the rest of us mortals who live sans time machine.
El Cuervo: good catch
corrected
Pssssst!
Got you summa dis nay-stee sweet ERX ovah heah…
Get you some, two vials fo a dime!
_________
amen.
“Odd, No?” Interesting market stats of the day, December 26th, 2008:
SPY volume: less then 20% of average.
USO volume: 130% of average.
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Cramer hates iETFs and is a bear and ……….I’m just saying ……odd, no?
Cramer is a bull.
USO sucks.
I’m out.
Good move. I decided to sit out the final two weeks of the year. I think if you’re up even 10% for the year you are smashing 95% of professional fund managers.
Don’t let the market KO you in the 12th round when you already have enough points to win the match!
-gio-
i’m sitting out the rest of 08 as well. my last trade was a day-trade in DUG the other day. there’s no point, unless you’re looking to scalp 50pt swings in the dow or something.
Party Life – http://www.youtube.com/watch?v=NVbnfx4Dhuc
I’ve been in 100% cash since December 12th.
After today’s close, I think the CNBC hucksters will help the market stair-step higher.
Then we will have a money manager driven January run up…pre-inauguration.
After that, prepare for testing the lows…and lower?
I’ll drink to that
All I can say is – OK – I got drunk, so now can you add me to one you follow on twitter so I can DM you.Twitter Nmae BullishBeauty
Cramer is a permabull…there isn’t a stock that bozo doesn’t like. He’s toxic in bear markets.
Just poured my first vodka & tonic after returning from my last holiday visit…enjoy the weekend boys and as The Fly says — Get Drunk!
Fly, have you seen all the “sell your gold commercials?” Even showing on the disney channel, now my 7 year old is rummiging through the wife’s closet looking to pawn her earrings, had to tell him their fake. Anyway, gold either goes to 2000 or bust. My bet is a spike as the world implodes…, so best not sell the jewels yet.
Fly…check out short GRT if you like the KIM short. I am in the industry and I will tell you, it will go to 0
Just left wfmi, nearly got taxed for 600.
1ho can afford such fuckery?
Thx for GRT Martin. Interested how Fly may process.
GRT – GLIMCHER REALTY TRUST
Last Trade: 3.40
Change: +0.13 +3.98%
Volume: 344,506
Glimcher Realty Trust operates as a real estate investment trust (REIT) in the United States. It owns, leases, acquires, develops, and operates a portfolio of retail properties, including regional and super regional malls, as well as community shopping centers.
with gold a couple of things can happen
1: central banks sell off their gold at inflated prices to raise cash thats how they raise cash to fix your fuck ups.. ..its a cycle and we are in it now..when they start selling it, prices go down and they stop selling it
2:if the money the cenral banks throw at this minor problem you created doesnt work there will be another gold sale just like the last one a few months ago and so on ect.ect.
3:if your looking for pricing …check the last high about 3 months ago( 950 + – ) ..discount some for the armagedon theory..now check the news telling you about central banks selling their gold and check the price around that time period (750 +- ) ..now watch for the central banks selling off more gold to raise cash to fix your fuck ups and see if its higher than the first time …discount 10% for the douche bags who fell for the fuckery the first time and thought the end of the world was comming ..subtract $200 from the time you first hear about the banks selling off thats what you will lose in 30 days ..after that it will keep going down untill its decided that you fucked up big time and more gold has to be sold
3:DZZ goes down when the gold spot price rises
4:DZZ goes up when the gold spot goes down
i will be entering DZZ as soon as you ticktards drive the spot price to 900 maybe before
Glimcher’s been going out of business since Herb died and the fucktard son, Michael, took over — and maybe even before that.
IOW — you’re a bit late.
_________
No one on a family budget can shop at WFMI. No way.
Arch
The Cbs can’t afford to sell gold. They can’t can’t let anyone see a chink in their armour. If they started to sell gold it could create an almighty move out of currency and into the metal on the basis that if they’re scared what are they hiding.
This is why I think gold is going much higher and testing the old highs at least.
I prefer my own brand, the internationally acclaimed Molson-Coors line of quality beverage products. The ibankcoin brand gives me hiccups, diarrhea, and turns my piss purple.
j—
we think panic has allready set in..
please wheres the fly ??? we are scared . we need to hear from him
Fly
Barron’s hypes RIG this week. What say you?
Flea
Why do you want to hear from people who short oil and bank stocks near their generational bottoms, but were strangely quiet on things like XOM and C and BSC at their HIGHS?
EVERYBODY in May 2008 knew the USA economy was in the shitter for the next 1-2 years, but they were going long oil and oil exploration anyway, DESPITE forthcoming demand destruction? (Personally I told you to SHORT oil!)
Now fuckin’ oil is at $40 – at or near the bottom- and the financial stocks have been hammered down mercilessly- and the same fuckers are SHORTING these areas! With governments WORLDWIDE flooding the system with liquidity!
No wonder I regard this BB as a CONTRARY INDICATOR! I am one of about THREE here that is
SANE, understanding “Buy low, sell high!”
GenerationOilBottom: appreciate your comments. As an aside, what is “BB”? — fine if it’s me, just wanna understand the reference
Bob, it probably stands for “bulletin board” meaning this Internet message board.
In other news, the IBC vibe has apparently been quite inspirational in Sweden, yes, it’s a great goat story:
http://news.yahoo.com/s/ap/20081227/ap_on_re_eu/eu_sweden_christmas_goat
International influence.
Oil Bottom-
As the Fly has said before. Go against him at your own peril.
I too use this board as a contrary indicator. Most people seem to have a bullish sentiment here. Which I believe is probably quite normal as most traders want to be positive and don’t know how to make money on the down side. I am however a bear and have been one for a couple of years.
I assume you are the same person as Generational Bottom who has been wrong wrong, and wrong on calling the bottom. We have not seen the bottom yet IMO. Job losses will continue, defaults will continue in both consumer credit and commercial credit. Obama does not have a magic wand.
Can’t you see that the i-bankers have fucked everything up so bad that the only thing that will work is a complete wash out of the system.
The decrease in the prices of real estate still has a way to go. In some areas of the country the prices are still inflated relative to the incomes of the people in that area. We have not seen total capitulation IMO. New lows will be made. Count on it.
On oil. They will over shoot on the down side just like they did on the high side.
Also Demand destruction is present in all areas, not just from people driving less. The biggest consuming economies are fucked. I don’t care how much money they flood into the system. Unless the US govt. starts paying citizens’ consumer debts for them things will continue to suck. People will use the money given to them buy the govt. not to spend, but to payoff debts due to tighter bankruptcy laws and aggressive collection actions buy the banks. Decreased spending, decreased demand for goods, decreased need for raw materials for production of those goods, equals lower oil.
Oil to $30 soon
Time Machine Predictions for 2009 pending, coming tomorrow.
Read through last years, if I might suggest doing so.
http://www.ibankcoin.com/flyblog/index.php/category/predictions-for-2008/
Gerald is predicting:
-America will become the first undeveloped country
-Revolution, riots, rebellion, marches
-Holidays 2012 – food more important than gifts
He’s been right on a lot of shit.
http://www.trendsresearch.com/
Nice calls for 2008 Fly
Everyone that wants to make money needs to get in the funnel
Mr. Fly: Let’s hope your time machine works as well for 2009.
Perfectly stated, Mr. Fly.
Moe
I wouldn’t doubt that oil, if it were an ordinary market wouldn’t find a bottom until 15 bucks. The thing that worry’s me about oil donwn here is Russia and what it could do to Europe. The EU gets 80% of its gas needs from Russian pipelines. Turn that shit off for a day and the market would be spooked out of its skin.
Shorting oil naked is here is a dangerous gamble.
Fly,I hope the power goes off in Brooklyn.
Me too. I 5+,,t live in brooklyn, asshole.
fly im not sure if im worthy ,but would you include me in your dictionary ..seems alot of people would like to venture into the funnel
thx
the funnel
Fuck a bunch of lameass “Time Machines”…
…you ridiculous “Fly Tards” !!!
Think…uhhhhh…ASTROLOGY !!!!!
—————————————
BUY GOLD FOR 2009 !!!
.
Don’t talk like that Fly. Mama would have you send the car around if the lights went out in Brooklyn.
___
Its OK Fly,times are hard.Brooklyn not that bad.Before U know it,upper east side again.Hang in there bud.lol