Starting with the share prices of BAC, WFC, STT, COP and other fine American corporations.
UPDATE: I know it is very tempting to trade something on this historical day. However, considering the dismal outlook for banking shares today, coupled with the emotions of Lord Lancelot being sworn in as King, “The Fly” has decided to go take a nap instead.
Fuck the noise. I do not care to partake in this assholish tape. Plus anyway, I have a 90% cash position and year to date gains of about 13%. There is not logical reason for me to rush into an inauguration day “fuck you, you’re dead, ha, ha, ha” trade.
Yes. And I hope there are enough port a potties for the party.
As long as there are enough shit boxes, stocks prices and the economy is irrelevant.
It would have been nice if our King toned down the festivities and donated half the dollars to the TARP funds.
Our poor banking execs are simply starving out there.
Simply starving.
Some early AM energy downgrades- COP,SII,BHI.
Wake me up when RIG gets to about $25 where it was about five years ago.
I’d simply like to offer here that shit-box is one of my most commonly used words, applicable in many situations. Thank you.
And yes, I’ll take the heavy cream with my Earl Grey.
COP just wrote off 34bill.
The oils will make the homies look like great stocks, within the next 6 mos.
Prepare for bloodshed.
I was thinking about taking it to the next level and adding butter to my Earl Grey.
the run on china continues:
AXP American Express plans to dump stake in China Bank – NY Post (17.01 )
NY Post reports American Express’s Ken Chenault plans to sell its stake in Chinese bank Industrial & Commercial Bank of China when a restriction on unloading shares in the Shanghai-based institution is lifted in three months. According to sources who have spoken to officials at AmEx, a sale of its ICBC stake would give the giant credit-card provider an opportunity to raise much-needed cash at a time when financial institutions are bracing for choppy economic waters. Allianz (AZ) also is expected to unload 3.2 billion shares in ICBC but it’s unclear if Goldman will follow suit, the banker said.
How do you write off $34 billion? WTF.
forget stocks, just sell the pound as that shit box is heading to zero 🙂
In fact I would say that all Flyswatters recommendations to short all these stocks can be simply bundled up and shorted by just selling the pound. It’s the biggest heap of shit since the er… the dollar was weak.
Currency markets are like the days of old. Get in early in the morning short the pound and then argue about what to have for lunch with the other traders.
Flyswatter that’s not a freaking run. All these fuckers have to sell what and where they can to raise cash.
Nationalization is a sure thing at this point.
I’m 1000% long FAZ.
Yes, that’s 3000% exposure.
short FXB, gets you short the pound, btw.
Ah J:
Once again you are wrong. You were wrong about deflation. Now you are wrong about China.
It is a run.
Carry on.
Freaking gold. They couldn’t give it away in Asia today at 824. It’s 858 as we speak and no one has a clue how it got up here.
I actually reckon it could be Brits dumping out of the pound to buy anything other than hold their own current.
The UK is broke.
Flyswatter.
I’m not wrong on freaking anything. I’ve never been wrong in my life. The monetary expansion will kick in, so exhibit a little patience an not ADHD induced exuberance. Sit tight.
Dude, one of the Brit banks sold out of that same stock a few days ago to meet cash needs.
China will go down if it must but Amex dumping their stock is not a sign of a run. So please continue.
In the new era of PC let’s call COP write downs by the correct PC term- “Non-cash impairment.”
Get short my rags. It’s all a fucking “sham”.
Sham-SHORT!!!
call me Flyswatter again and you get yourself a broad spectrum kick in the ass.
is no one safe. this was supposed to be one of the safest names. Fme.
State Street Corp., the world’s largest money manager for institutions, said 2009 operating profit will be little changed from last year after fourth quarter earnings fell 71 percent. The stock tumbled as much as 33 percent.
Net income in the quarter fell to $65 million, or 15 cents a share, from $223 million, or 57 cents, a year earlier, the Boston-based company said in a statement today. Excluding certain items, profit was $1.18, beating the $1.13-a-share estimate of 13 analysts surveyed by Bloomberg.
From 12 miles away? Hardly. It’s not your real name anyway.
If there is a “multiplier effect” there is also a “divider effect” when the leverage goes from 40:1 to 11-13:1. FYI
This tape is a trap. You’ve been warned.
Off for a nap.
Wish me luck!
RALLY TIMEEEEE
P.S. j – There’s a line on the table for you.
Yea, doc. that’s called a fucking huge correction. But you know what, call it what you want, call it Paris Hilton instead of deflation if you want. If we’re going to abuse economic fucking terms like that then just call it a huge Paris Hilton effect. Same difference.
The flight to quality of the dollar is picking up. During the Great Depression as virtually all of Europe defaulted or suspended its debt. This drove the dollar to new highs and was not understood back then, leading to the passage of the Smoot-Hawley Tariff Act of 1930. It was this global flight to the dollar that confused congress and sparked protectionism. which we may see soon. as long as there is a flight to quality, interest rates will decline short-term, but will rise long term due to the massive supply on the horizon. The yield curve will steepen sharply.
This crisis is effecting the the underlying systemic inflationary pressures rather than the rise of prices and services due to external reasons. Deflation and inflation are sitting on opposite sides of the scale. to deflate the value of the currency causes a rise in the cost of goods and services. To increase the value of the currency causes a deflationary effect in the prices of goods and services.We are seeing a sharp increase in the deficit and declining tax revenues both at the federal and state level which is prompting another crisis. Federal bailouts of the states is coming.
GS just broke through 69 the banks are in for another great day! ha ha
XOM is a freak.
SWHC starting to move.
told ya so!
J&J finally come in with a profit increase. It’s the first one I’ve seen for a year. Tempers outlook for 09 though. Of course.
J&J’s $1.07 billion acquisition of breast-implant maker Mentor Corp. is expected to bolster the company’s medical-devices segment in the long run.
My bet. They’re going to have to write some of this off this year as I don’t think plastic boobs are in high demand.
Henry, SWHC is up a good bit today…good call……I just shot a Performance Center S&W .45 yesterday, very nice gun.
On LOPE
This was intended to be priced at 20 originally however poor timing had LOPE go to market Nov 20th. A day when the DJ hit 7500 so they had to come public@ 12
Anyway with the education sector leading I’m making a case for LOPE to 30 and
anything under 20 a gift.
Unless we break down then GTFO!
Added to my GS shorts at 69. That bitch goes to 50
Custody and processing banks like STT & BK are becoming zombie banks, too?
Man, who woulda thunk they’d run off the rails?
WFC is next to shit the bed. Swallowing the load from Wachovia which has a lot of shitty mortgage exposure will prove difficult. Just like JPM who will have trouble swallowing the loan of WAMU
This is the big one! DevilDog watch in 3,2…
Long the stocks of printing press makers and paper companies that make currency paper!
well, the Obamarama rally has definitely not materialized as people thought……and the massive drop in bank stocks for today is quite impressive.
Covering some shorts on GS that I have a cost basis of 85 on.
Way to go TMOE.
Wooh Wooh Wooh !!!
Fly
Thanks for the call on buying SRS at $50.
TheArtist
I’m jealous
i haven’t shot a gun in about a year.
Warning that house prices may fall by 80%.
This is a depression folks.
The Inaguration has been cancelled. Obama has been called to the NYSE to help buy the shitboxes before BAC & JPM go to zero. I’m headed down there right now and will be bringing plenty of Not Dogs (soy hot dogs) and beer(budweiser)
While Fly is napping I’ll take the time to spread my bullish buy list.
He’d only crap on it and tell me it was the worst portfolio he’d ever seen!
SWHC
ONXX
DXO adding to all of these right here.
AFAM
LOPE
AIPC stopped out 25.5
HF,
Who is warning about an 80% drop?
Henry….you’ll really be jealous when I tell you I own 50 acres (with 1800 more behind me owned by my neighbor) where I live in NC and I have my own shooting range on my property, with targets at 100 yards, 200, 620, 720 and 1300 yards. long distance shooters (1000 yard plus guys) cream in their pants when they find out I have my own 1000+ yard sniper rifle practice range.
death to RF?
oops. My stop on AIPC is 24.50 I still own here
TheArtist, I live in NJ with 2 acres and no guns. Your place sounds cooler.
I need one of Mr. Smith’s and Mr. Wesson’s products ro shoot myself in the foot. I sold FAZ on Friday because I would not allow it to drop below a 10 point gain. I hope the temp drops and it snows on the King’s parade – he is fiddling whilst Rome burns.
Sr. Fly I am surprised you are not going to watch Sr. Lancelot-Obama get his crown as king today….you voted for him. You voted for his HOPE, his CHANGE, his GLORY, his KEEN KNOWLEDGE of PROBLEM SOLVING
I would think you would be having a super bowl like party today.
I should have voted for Obama’s mother-in-law. She takes no prisoners and is slightly unbalanced. A perfect Prez.
Watch XLU etf (utilities) and homies etf (ITB) for a nice gain if market doesn’t crash. And maybe SMH etf (comong back).
Moe
I bought a little GS and MS around here. Just 5% of what i want to own very long terms.
Which me luck. Oh and I hope GS goes to 40.
Lady G – don’t you have some tennis magazines to read?
FlyJr…I read them over the weekend- thanks for your concern. Actually I am watching the Australian Open during the day instead of the inauguration or CNBC.
🙂
Happy Trading Jr.–shouldnt you be at Daddy’s party?
.
My guess is sideways movement until the final hour and maybe up some or a step down or more sideways. How’s that for a prediction?
ladyg
I will be in the audience tomorrow and the courts are only a 2 miles from my home.
I’ll wave to you so look out for me.
Good luck j
If GS goes to 40 I will take another vacation and go to Hawaii for 3 weeks.
Anyone think we may rally a little going into the speech by the Messiah?
I should have stuck with my original instincts, which are, this stock market cannot rally with Obama and the Left taking unchecked control over the gov’t.
Obama seems like an nonthreatening presence, but wait until he’s tested. He will side with his core base of nut jobs, time after time. Remember, he’s one of them.
The dow can’t eclipse 10k with this type of unchecked power. No fucking way.
MOOBER, I am buying puts on RF. It’s a death spiral.
http://concisetrading.blogspot.com/2009/01/rf-and-financial-destruction.html
Ryan
Costanza took over my brain & forced me to buy FAS.
Fly, I think I hear the sweet siren call of leveraged inverse ETF’s!!!
Ari … do not confuse sweet siren calls of leveraged ETF’s with the sounds of your wifes moaning … I’m doing her right now
sorry big guy 😉
Someone on CNBC said Cheney injured his back b/c he was trying to move his man-sized safe by himself.
Is LadyG and FlyJr flirting now? Tennis magazines, polite remarks, suggestions on where to spend the day, WTF? Is this a dating service site? What kind of shop is The Fly running?
Appalled I tell you!
PLato-
Wow, that’s a low one
DXO will test new lows. Read the news on FINVIZ.
Just saw Al Gore. I thought he would be wearing swim trunks and flip flops. You know. Global warming and crap.
Whaaat?
Lady G zinging the Fly!
And righteously so, I might well add.
“heh.”
__________
I cannot get it out of my head that they are walking this shit down to leave a final bootprint on Bush’s ass, and so they can better screech “he’s the Messiah! He’s the Messiah!” when they blast this shit off this afternoon.
Pure conjecture, because Mrs. Market may also very well say “now we go to zero, Devil Dawg style” as soon as he removes his hand from the Bible leather as well.
___________
I predict Nancy Pelosi will order GW’s arrest immediately after the swearing in ceremony.
You don’t frighten us, English pig-dogs! Go and boil your
bottoms, sons of a silly person. I blow my nose at you, so-called
Arthur-king, you and all your silly English kaniggets. Thppppt!
Oh, wicked, bad, naughty, evil Zoot! Oh, she is a naughty
person, and she must pay the penalty — and here in Castle Anthrax, we
have but one punishment for setting alight the grail-shaped beacon. You
must tie her down on a bed and spank her!
Yes! Yes! And then… you must spank us ALL!
Yes! Yes! Spank us ALL!
_____________
The financial system is crumbling while the bigshots party in D.C. How quaint.
At least we’ll have a tax cheat running the Treasury. That’s hope you can believe in.
COP suffering big on the back of their write downs
FAS is a motherless whore.
The PPT will cease propping up this dog turd of a market in less than an hour.
Consult the Book of Armaments!
Man:
Algore has exploded, hasn’t? He’s the fattest VP in history.
boughtt BAC @ $5.63
PNC @ $25
Covering my DB HBC JPM WFC shorts. This is getting ridiculous. I think we rally later today. You would think all the banks were shutting shop by Friday looking at todays action.
would someone please shut Larry Krudlow the fuck up…..
I believe Chester Arthur was a lardass VP and probably bigger than Gore.
Mark Haimes is a half-functioning retard.
OK, I take back what I said about FAS.
Obama has that “my mother-in-law is moving in with me” look on his face.
Chester Arthur was known to enjoy a cheeseburger or two.
lol @ TC
My prediction is a small bounce for Obama then the hammer drops soon after
Shhh! Knights, I bid you welcome to your new home. Let us
ride… to Camelot.
How you English say, I one more time-a unclog my nose in your
direction, sons of a window-dresser! So, you think you could
out-clever us French folk with your silly knees-bent running about
advancing behavior! I wave my private parts at your aunties, you
heaving lot of second-hand electric donkey bottom biters.
Today is Obamanation of the worst kind. The man in the mirror see himself as the “chosen” to lead the people. Last time that happened, he ended up hanging from a cross
I could be wrong but I believe Chris Matthews just had an Obamagasm.
Sorry for the just before lunch image.
TBT and PST up a little, but Bill Gross thinks there is more treasury rally ahead. The Great Consumer Economy is over – the banking system is bankrupt. SKFie looking towards $200 and FAZie looking at $100?
Mitt in 2013!
“Recall the early days of the First Continental Congress in Philadelphia, during the fall of 1774. With Boston occupied by British troops, there were rumors of imminent hostilities and fears of an impending war. In this time of peril, someone suggested that they pray. But there were objections. ‘They were too divided in religious sentiments’, what with Episcopalians and Quakers, Anabaptists and Congregationalists, Presbyterians and Catholics.
“Then Sam Adams rose, and said he would hear a prayer from anyone of piety and good character, as long as they were a patriot.
“And so together they prayed, and together they fought, and together, by the grace of God … they founded this great nation.
“In that spirit, let us give thanks to the divine ‘author of liberty.’ And together, let us pray that this land may always be blessed, ‘with freedom’s holy light.’
“God bless the United States of America.”
~Governor Mitt Romney’s “Faith In America” Address
GovtFunds, yeh I remember that guy, they made a movie about him, the chosen one, his name was Brian.
There it is! Didya catch it? The Obama bounce! It was 25 points on the DOW!
So does Michele get it big time tonight?
Let the healing begin. I am pumped, I feel the rays of sunshine coming down upon me. Now get me my motha fuckin rent check bitch.
That was almost a capitalist line there… (“risk takers?”)
____
Ohh ohh, Obama said “science,” the right-wing won’t like that!!!
Free bowls of gruel for all…….
Oh fuck, here we go with we’re using too much stuff.
Great message in midst of a depression. (Notice, no applause, even though he had a pause line).
_________
Shhhhhhh. President Grape Jelly Lips is now speaking.
He’s been more inspiring in prior speeches. This is a let down.
an outsider says thx …. great speech Pres. Obama… the spirit of renewal of hope and virtue will carry us through this season of winter….
We’re gonna need a bigger boat !
Speech over.
NYSE- You may proceed to crash.
Dad told me Prez Grape Jelly Lips loves Banana Splits
Buy Delmonte!
Here comes the hammer
Keyser Soze, you’ll have to realize he is probably the most nervous right now of all, he is probably as nervous as a cow being milked with a cold pair of pliers right now……and believe me…that’s nervous
Going long the financials into this bloodshed via fucktarded ultra ETF purchase – feel free to lob bricks at my head, as I must learn my lesson eventually
Seriously, am I the only one dumb enough to trade this tape?
When Dad (Fly) finds out what you have been saying he may take away your allowance and put you in time out.
Using too many resources. What the fuck.
Buy gold. This dude actually thinks that. Fuck me.
Good choice Americans.
During the parade Obama is gonna be throwing balloons filled with BAC stock certificates.
God help us
(MarketWatch) — Bank of America Corp needs more than $80 billion in new common equity capital to support the huge amount of assets on its balance sheet, Paul Miller, an analyst at Friedman, Billings, Ramsey, said on Tuesday.
Everybody quit whining and get long RCII….
Bennet Sedacca
12:05:00 PM
Position in KBE
My old friend 78%…
BKX is now off 78% from the highs. This has proved an important level historically in terms of a short term low.
Again, at the bottom of an obvious channel.
https://admin.minyanville.com/assets/FCK_Aug2007/File/January09/sg2009012043031.gif
I know there is bad news coming and so does everyone else.
With defined risk, KBE makes sense to me here.
Wow; What a great way to put your ass on the line. He will be tested within a week. Ask the V.P.
FAS me!!
assholes, new post up.