Here we go again. The plan to save the world, via the banks, is about to being— again. NTRS, which is on my possible buy list, just beat the street. Expect CNBC to suck its dick, all day long, similar to what they did with JPM—prior to it being skinned alive.
Right now I have more than 90% of my assets in cash.
I will not buy into this rally, due to my aversion to fuckery. However, at the same time, I may choose to close out whatever inverse etf’s I have left, namely EEV and SRS.
I went long 10,000 DUG towards the end of trading yesterday. I suppose the only course of action is to just deal with losing some coin on that transaction today. But, with the oil companies about 1 week away from disappointing en masse, time is on my side. I will buy more DUG on dips.
On the long side, if I was so inclined, I might buy some COGT, OXPS or even some BK.
As for upside etf’s, scalping a quick FAS long is worthy of a shot, providing the banks bounce here. Expect the Obama administration to unveil lots of plans that can boost sentiment. However, the million dollar question is: how punitive will such said plans be to the banks?
Personally, I am outright bewildered as to why our banking executives are not in jail. How the fuck can they continue to get away with this shit, without prosecution?
Let’s call a spade a spade: those cocksuckers have been lying to everyone for years. Maliciously, they hid losses and artificially propped up their balance sheets, so that they could enjoy the fruits of fraud, via exorbitant bonuses.
All I know, the Enron fuckers were goose stepped to jail rather quickly. Conversely, Congress seems totally disinterested, when it comes to nailing a few bad GS men to the altar of integrity.
Fuckers.
Bottom line: I will be sitting out the initial move in the market, mainly because I do not trust it. If anything, I’ll jump on board the afternoon rally and play the momentum into the bell.
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afternoon rally?
I doubt it.
Why doubt it?
You act as if the market has never rallied in the afternoon.
what to do with fxp?
FAS is a gas!
I will ride that train into Profitland.
not in fxp.
if you are, either ride it out or pair it with an lfc or chl long.
careful with the banks.
Someone say it – say we are “oversold” here. The market did a bottom retest in ’74 and in ’03 which is maybe what we are doing now. If the Nov. low does not hold, then F the stock market.
we can bounce here, no doubt.
The question is: are you willing to risk it?
Are you feeling lucky, punk?
You have any definitive story of the bank proposals and what they are up to?
All I’ve seen is the WSJ piece and that mentioned nationalization as a choice which shouldn’t help the banks.
Bad bank option is all I hear.
will sit on my hands. only the masters can trade this market
As I said last night I do expect some bottom fishing of banks today as the Messiah rolls in. I wouldn’t be too fast to jump on that train. I’ll be watching COF as I have a nice short position, and they report today after the bell. With defaults and bankruptcies rising, I would expect their outlook to be negative. Then again last quarter they were negative and the stock rose. Will it be different this time?
Ok thanks
The FUCKERY REPORT:
The Obamarama rally as we see, never happened. I have to say that yesterday was way different than I expected it to be. I was of course sitting on the sidelines due to the unknown fuckery that yesterday was going to bring, but never expected such a drop as we saw yesterday.
So, do we rally from here for a few days before the next leg of bank fuckery reports? We’ll see…..I expect some of these banks to be dissolved and my 2009 prediction is that CNBC will continue to retain hosts that are pussies of the highest degree, that have no personal opinion on any topic and have the continued ability to kiss the wobbly parts of all the CEO’s that they interview and candy coat every event as if it was nothing to be concerned about……
Covered a little more GS at 65. But holding on to a big piece of my shorts until that bitch goes to 40
T Moe, different – yes, I hope so.
Also, if people aren’t trading today, how about more weird animal facts involving flaps, clits and balls?
NOT.
GE is today’s tell.
Watch out!
“Personally, I am outright bewildered as to why our banking executives are not in jail. How the fuck can they continue to get away with this shit, without prosecution?”
“Conversely, Congress seems totally disinterested”
It’s called———>> Complicit,,,,Aided and Abetted!!
Level III anyone??
Check the Off Shore (Names/Accounts)stuffed with $$$$ and the names will be rather revealing/Shocking.
The greatest Heist/Fraud/Transfer of Wealth in History!!
Fly…do you think initiating a shot on xom ahead of earnings on the 30th is a smart move? They will have to disappoint the way oil has tanked…..
mo up 3% on a “hard winter’s day”, and .5% on a “rally”
One foot in the funnel the other likes KRE (regional bank etf) for a trade.
Instead of a direct short on XOM, I like DUG. XOM is 20% weighting in DUG.
I want to short the whole space. No more fucking around.
SRS on the move.
What? Irish banks near nationalization also…….those fucking sneaky little leprechauns……
Ron Paul just interviewed on bloomberg … he is the only one who had/has it right among elected officials
all you who think he’s a nut, look at the straits we’re in run by your elected sane people
Put on a massive bear spread yesterday (bot 76 SPY puts, sold 67’s in equal amount).
Taking this “brief respite opportunity” to close half the 67’s sold.
I will continue to sell the farther puts until my 76’s are bot and paid for.
_________________
Fly said:
All I know, the Enron fuckers were goose stepped to jail rather quickly.
Let’s be clear, those fuckers were frog-marched off to jail. (think of being led away, orange-jump-suit style, whilst bound by chains at the hands and feet)
One is “goose-stepped” to a firing squad pillar, which may be the more just deserts for the likes of Lewis & Co.
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Call me crazy but I am shorting all the banks here – WFC, JPM, BAC. As far as I am concerned nothing has changed. Therefore the banks continue to go down.
RTC formation will save the banks once again.
Marked to market will be relaxed.
btw .. more selling off before massive rally friday
DUG is a good buy. I’m shorting oil at $41. No way it should be above $35 right now. The recent jump is the options shenanigans plus OPEC rattling its rusty old sabre.
Mini Fly
They don’t have the capacity. The entire fucking world would have to go into the RTC.
it would be funny that if they set one up…… Citi and BAC demanded payment for the option on the ring fence. That’s worth a ton of money if correctly priced.
Y’all know I don’t recommend many site, save le Fly’s (and Gary’s).
This is another oracle to be consulted, IMHO.
__________
RTC will NOT save the banks. YOu have no fucking idea what you speak of.
Go back to your little shithole site.
“Mini Fly
They don’t have the capacity. The entire fucking world would have to go into the RTC.”
Bingo.
$685 “T” Global OTC Deriv’s,,,,Worthless
Hefty weight.
TBT booking higher.
Off to buy some Dunkin’, with disguise and all.
Nice site Jake.
I need to refresh my blogroll. I need some new sites. Don’t suggest any now. I will dedicate a post to it sometime this week.
Just lightened up on my QLD. Holding BGU for glory/crapshoot/surprise buttsecks.
These fucking banks are trading like the old tech stocks. I’ve honestly never seen such moves in stocks on a daily basis.
JPM’s market equity has moved 1 billion dollars this morning alone. These are truly amazing markets.
———-
Surely this is a mistake. US bank makes money and boosts it’s profit?
Naaa.
I’d send in the regulators as I think they’re bullshitting.
Hudson City Bancorp Inc., the best- performing lender in the Standard & Poor’s 500 Financials Index last year, said profit climbed 60 percent to a record and raised its dividend. The company climbed in New York trading.
Fourth-quarter net income advanced to $124.3 million, or 25 cents a share, from $77.5 million, or 16 cents, in the same period a year earlier, the Paramus, New Jersey-based lender said in a statement today. Hudson City increased the quarterly payout to 14 cents from 13 cents.
j: amazing = broken. no?
I’m loving the action on BBBY (short of course). This stock will tap $20 in the next 6 months (mark my words).
I banged Courtney Reagan on my Dad’s couch this past summer. It was a real scream.
RTC will bail out the banks once again. Printing more money is the only option. It doesn’t even matter at this point.
Fools said the same thing in circa 1990 about the RTC not being able to help. Solved the S&L crisis. Owned
Just covered small BOOM short (500) on Keybanc downgrade. Pleasant surprise.
Just made a quick 12% on FAS and ALD. I might call Courtney again and perhaps Lady G and make it ‘rain’.
I bet she was screaming, mini-fly. Screaming for the cops.
———-
Nob Roubini this morning reckons that the US bankster system is insolvent and that there are 2.3 trillion of losses hanging around.
How the Nob comes up with an exact figure like that has me beat.
I wouldn’t mind taking the bottom off Courtney Reagan myself once if not twice.
what is this CNBC shit! I cannot believe they are not spending 6 hours of todays session on Madoff’s penthouse window with a helicopter cam or with a camera outside focused on the doorway……. don’t tell me they will waste time on Geithner when they could spend the remainder of the day talking about Madoff…….
Really?
IS the chopper still there?
I dunno why you fuckers watch CNBC. You’re all whining about it all the time. In fact you’re all whining about it so much you could turn the fucking engines off in a plane and it would still be running.
I prefer, Fox Business. They have a better class of chick. They’re all freaking airheads but really pretty.
$7-$10 “T” Minimum,,,,,,,!
WMT jacked, odd no?
Thank you Jake.