No more insults.
Senor Tropicana is all about sunshine, crack pipes and apple pie. He is as happy as a hooker on a vacation day.
Reacting to the tape, I took some losses in a variety of names, namely C, FAS, TBT and a little AKAM. And, I booked a 6 point profit in SSG.
Essentially, my goal is to reduce my long exposure, which currently stands at about 8%.
In addition, I bulked up on some shorts, via EEV and SMN. And, I shorted a little more HANS, just south of $32.
At this moment in time, there are lots of good shorts out there, setting up for the taking. From CHK to X to POT, stocks look ripe to fall.
However, at the same time, men with large bow ties and clown shoes are recommending caution, at realmoney.com. This alerts me and as a result chagrins me—for those fuckers are always wrong.
Please, prove me wrong.
Aside from tossing over ripe bananas at my trader/servants desk, “The Fly” will spend the entirety of his day planning his next kill. Presently, I possess a 25% cash position.
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Could there be another run on the banks? Citi will take mor right downs and will probably as for more money as the second part of the TARP is released. The release of the TARP could come soon if Citi continues to take it in the ass.
Sure. There can be a run on Chinese banks too.
What are some of the Chinese companies you consider good shorts here?
Betting against the banks at this point is betting against the entire system. Realize that we can and probably will print our way out of this mess. The gov’t is not going to allow the major players (C, BAC, JPM) to fail, in my opinion.
Is cash the same as hookers and blow in this context?
You “Ain’t Seen Nothin’ Yet” with respect to the (Bank) “Runs”,,!! Th*nk Global!!
http://www.youtube.com/watch?v=7miRCLeFSJo
to correct my earlier misstatement (not todays business) – a rally into spring, not a spring rally , beginning in a week or 3 … but before then, more tough sledding
To my eye America is becoming the Brave New World..you must admit Orwell and Huxley were spot on.. Our “leaders” have substatuted entitlements for Soma…and made Government the opiate of the masses..fuck the market today I think I will have some Soma…if thing go south hard long term you will indeed have shown prescience with your nom de plume for we will be caught up in a large scale Lord of the Flies
The more Government intervenes the worse things get. Government is the worst form of business known to man. To pin hopes on the notion that Government will save us is block headed and communist, as a point in fact.
By the way, this is the roughest 40 point drop in the history of the stock market.
Spring rally, or rally into spring….it still is not going to happen………the only rally we may get…and I mean “may” get will be a stupid “rally of morons” leading up to the day Obama (or if you work for CNBC…Obamer) takes office……outside of that….there is nothing but bad news on the horizon……..stocks go up when either a whole lot of fucking stupid assfarts buy into it….or the company(s) are actually making money quarter after quarter…….and that “aint” happening at the current moment……
secondary education stocks are way overdone…common thinking is bad economy equals people going to trade schools for different careers. Where are these people going to get their loans? backed out fair value of STRA at roughly $125 a share…definite longer term short…starting a position…willing to dollar cost average
THE DEPRESSION IS AN INSIDE JOB!!!
Not to mention it’s perpetrated by the establishment.
BUSH DID IT.
No really, Bush really did do this one.
The Texas Teabag!
I’d like to give a shout out to all you fuckers who greased the wheels of my oil shorts, via getting long the falling sword aka oil.
Good looking out.
The Homo on the Hill!
Agree with you Fly…
How can anyone expect a guy that ran one (or more) public companies into the ground to manage the business of the United States. Not fit to serve.
What’s equally troubling is how they managed to cheat their way into office for a second term.
1/20 cannot come soon enough.
Someone please whack Larry Kudlow……..what a fucking baffoon……
Cash on the sidelines!!! Mustard Seeds!!! Energy rebate via lower gas prices! The bottom is in! Yeeeehaaaahhhhh!!! 8-balls for everyone!!!
Kid:
No point in crying over Bush’s election fun. I am sure the street organizer will do a better job running the 14 trillion dollar economy.
iBC just whacked Larry Kudlow.
Developing…
C is sliding into the muck pit……..
GS: Please go to zero. Today. THX LOL punyandy.
Dow is down 68 points…ands thats a deballing? Fly, get a hold of yourself.
It will be interesting to follow treasuries as they will be indicative of investor sentiment re: bank strength
Print $100 bills and drop them to the PEOPLE.
To the accompaniment of great music:
http://www.youtube.com/watch?v=BLi_m656tQQ
little info on GS:
Net revenues in Investment Banking were $1.03 billion, 48% lower than the fourth quarter of 2007 and 20% lower than the third quarter of 2008. Net revenues in Financial Advisory were $574 million, 54% lower than a particularly strong fourth quarter of 2007, primarily reflecting a decline in industry-wide completed mergers and acquisitions. Net revenues in the firm’s Underwriting business were $460 million, 37% lower than the fourth quarter of 2007. Net revenues in both debt and equity underwriting were significantly lower, reflecting lower levels of activity.
And Cramer’s dumbass has been sucking on GS cock for sometime now saying that their Advisory business is the best way for them to go. Cramer there are no deals out there!
Oil is such a piece of shit asset class.
http://www.youtube.com/watch?v=tZctF0D7tX8
The Sea Hag is blowing the treasury secretary live on bubblevision.
HUH:
Yes. Deballing. Don’t look at indices. Look at leaders.
El T- I agree. Treasuries and the dollar. That is why I am so negative on banks. During periods of economic panic, history has shown that capital will seek cover, which means that short term rates will stay as close to zero as possible for capital will not trust banks nor stocks. This happened during the Great Depression. There was ahuge flight to quality on a global scale. Virtually all of Europe defaulted or suspended its debt. This led to massive flight to quality that caused the buying of dollars. Much like what is happening today
I dont know about you guys, but I am seriously going to buy some oil contracts if oil hits 30s for the long-term. I know we probably never going to see 150 oil, but shit…even going to 50s will let me bank some coin.
If oil gets to 30.00 it will keep going to 20.00…..remember, a barrel of oil was 9.65 in 1999……most people do not realize that, only 10 years ago……
It’s Jerkoff cam in Manhattan.
If Madoff gets jail, is the market gonna rally? Just asking…
yes the market will rally for about 8-12 seconds……this will be due to the 98% of stock market players…..who are all fucking morons…….
I still say if this is a “deballing”, then DEVILDOG is only slightly bearish and a pacifist.
Bush asks Congress to release the $350 billion!
Per Obama’s request
http://finance.yahoo.com/news/Bush-asks-Congress-to-release-apf-14031022.html
No doubt Citi’s slide had something to do with it. They need more $$ and fast
been down in mexico (playa del carmen) for a few days.. empty as hell down here this year… Not much tourism going on down here..
308
remember, a barrel of oil was 9.65 in 1999……most people do not realize that, only 10 years ago……
And a nickel was worth a dime.
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all banks need more money…..GS next stop is 50.00, after that, next stop 20.00, after that, next stop 12.50……….C next stop, back to 3.00, next stop after that, 1.50……..
HIG down 15% – the Financials are fucked, but once again the Govt. will come with the money bags
Is Skiffles back on the table?
Been short GS quite a while. Covered with the big runn up then. Jumped on her again at 87! Fuck the Partnership!!!
They still have a lot of CMBS to get rid of. GS to $50 is right
EEM is trying to bounce off the 50-day, almost to the penny. should be interesting to see if it sticks. i don’t see any fundamental reasons for it to hold, however.
Madoff is free no justice!
There is NO cash on the sidelines. If you believe that you are one of the many stupid cows or sheeples.
Shorting XOM is like watching paint dry.
I hope madoff makes it out of the country.
I just sold my EEV for a 7% gain. It stalled out around 55 or is digesting. I dont know if there’s enough momentum or news for it to push higher or EEM to go lower.
I can always buy more if it pulls back or suddenly pushes higher with a lot of volume. I just wanted to take my profits as everything else I have is down at the moment.
Thanks Fly for the recommendation.
Justice would be someone walking up to Madoff on the sidewalks of Manhattan and simultaneously slashing his throat with one knife and disemboweling him with another. MADOFF lying on the sidewalks in pools of blood cluthing his throat with one hand and holding his intestines with the other. Thats the kind of justice I would pay to see.
Oil to 25 then bounce then down to 15.
S&P to 150. WOW…I’m banking huge coin again off of the cows and sheeples. Thank God for the stupid herd.
CAP, that is the justice that paulson deserves.
CAP —
That’s not justice, that’s “escape.”
Let the fugger rot in jail, as “Betty” Madoff to Bubbah, his new husband (at six packs o’ cigs and a half case of mackeral a day).
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Or barring that, just give him to Devil Dawg and his “sausage making room” in the very basemenet of his bunker.
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DEVILDOG…it’s 12:30…time for your meds.
Madoff should be happy to go to jail…. At least hes sort of safe from his investors hired hitmen. .