Don’t worry about what “The Fly” was doing, the last 4 hours. As far as you’re concerned, he was was out dog sledding, throwing jumping jacks at innocent bystanders.
Truth be told, had I sledded past Dennis Kneale, I would throw a few dozen block busters at him.
How the fuck is that idiot still apologizing for the banking executives, for taking 100’s of millions in bonuses, at this stage in the game? I mean, it’s pretty obvious now that those idiots bankrupted the world and have led to the unemployment of about, oh let’s see, 60 million people worldwide.
And yet, Kneale says Wall Street “needs to retain talent.”
When I was young, I was a huge baseball fan. I remember watching a NY Mets game and hearing, Hall of Famer, Ralph Kiner talk about his contract negotiations with his former team, the Pittsburgh Pirates.
He said, and I’m paraphrasing here, “I hit 50 homeruns and want a raise.” The ownership replied “absolutely not. We finished last place with you and will be able to finish last place without you. Good day.”
It’s a rather crude way to look at things; but it is spot on, if I may borrow of phrase from the idiots across the pond.
There is no accountability today. Everyone wants to be a Caesar. All CEO’s feel entitled to live a life of luxury, despite not doing dick for shareholders. Bob Nardelli comes to mind.
Anyway, as for the markets:
I am glad to see GS do the Lord’s work and downgrade XOM. And, I am pleased to see DUG, ERY and SRS move higher, following yesterday’s death match with Obama. However, now I have all sorts of long positions going down. What a mess.
In a market that whipsaws 200 points up then down, on a daily basis, it is next to impossible to trade flawlessly, unless of course you are trading in and out of one position.
One thing to take note of is TBT. I must admit, I am a bit surprised to see TBT run higher so quickly. I would not be chasing it up here, not even with my neighbors money.
To sum up my market position, I am a long term bear on energy and commercial Re stocks. I have not sold any of my SRS, DUG or ERY positions. I refuse.
On the other hand, I will take opportunistic trades in some names, when the voices in my head tell me to buy. Right now, I own CHL, BUCY, FXI, TS and MT, just to name a few.
NOTE: Because my overall bias is bearish, I will keep longs on a very short leash.
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The Obamudget sucks. They need more funding for big, inspriring space missions for 3 main reasons:
1) Shows kids in backward-ass crap nations that the world is small and should work together. (Yes I can feel the healing)
2) Inspires kids to get into science and engineering. The graduation rates have been dropping hard for the last 20 years in the USA while the population has grown. Too many people think adavancement, the economy, and modern civilization runs on hairdressing, leeching off the stock market, and lazy idiot car unions.
3) Technological spinoffs directly from space programs, and from the nerdy kids in reason 2) (but those who don’t end up in space industries) will contribute useful shit. You have the Apollo program to thank for the initial development of the modern computer for example.
That is all.
End of transmission from Mars.
Watch out bulls! Fly, will you rebuy some EEV? I’m still holding mine from last week.
Market summary for today and next week:
http://www.youtube.com/watch?v=Ob_oD1IsYbE
Replace Dennis “leprechaun” Kneale, with a man of the people … I nominate The Fly!
We will get terrible data tomorrow and the market will rally; Forcing all noobians to buy equities at egregiously high prices.
Here’s what I don’t understand…why does everyone here complain about CNBC but continue to watch it all day? I don’t have a TV here in my office so the only CNBC I get is a late repeat of Fast Money if the mood strikes. It seems to me that watching it all day can do nothing but harm your trading and give you a headache. Is there some entertainment value in it?
Come up with something original!
Only Part IX ?
Check your math.
——
Cubs will be right, above.
more like part 40+ years…..
HEY FLY RETURN MY CALL OR I’LL RIP YOUR NUTS OFF !!!
controller….very easy to observe stats on the market place….
Bloomberg is the real information channel and Fox is the anti CNBC channel
theres always abull market somewhere …
this name is one of this sites favorites:
http://www.ibankcoin.com/peanut_gallery/index.php/2009/01/29/tbt-update-headnshoulders-still-long-hard-stop-in-place/
WTF is developing, thinking is too hard for you?
Hey, don’t watch CNBC you idiots. My stomach is sickened by your endless whining. I guess there supposed to provide you babies with all the answers, so you can return to mama’s tit. Grow up asshole american stockmorons.
little2rich4u , your mother is calling you, pay attention, and get off of this adult financial blog and when you get your chores done, please return to watching Sesame Street.
Earth calling Mars: Tang is awesome!!!
#1 mall bagholder SPG reports friday before the bell.
Charlie,
I still own some EEV. However, I did sell most of it yesterday.
Basically, I sold out of all of my REW and most EEV, while using cash to buy longs.
# The Fly Says:
Charlie,
I still own some EEV. However, I did sell most of it yesterday.
Basically, I sold out of all of my REW and most EEV, while using cash to buy longs.
January 29th, 2009 at 1:42 pm
What were you smoking ? You went long yesterday. It was a classic trap. We broke the triangle to the upside. Now we go down. The rally sucked in the longs and now we proceed downwards. Dow will be below 8000 either tomorrow or next week.
CAP:
It’s not the end of the world. Chill out. There is plenty of time to remedy mistakes.
and plenty of mistakes to remedy, in my case
The new name for Power Lunch is
Queer Eye for the Stock Guy
CAP is this close to getting an extra “r” added into his nom de blogge.
________
Fly, you can’t go out for 4 hrs and run a top-tier blog. You have to man your battlestation. Not much time till pole-shift/cassini probe explosion.
Off to my Denver secret underground base.
All that developing for this BS…
This was far better than that first bullshit post you wrote.
I’m going to trademark the phrase “Dennis Kneale is an idiot” since I found this bandwagon.
You’re just jumping on it a year later. Admit it.
-DT
My first taste of the Mets was Ho Jo, Gooden, D. Strawberry… I watched them play a lot. They had a few other players on that team that rocked, but I do not recall names… Hernandez?
Not bad for a Utah guy that loves soccer eh
What is the PPTs thoughts on TBT
thanks
gary carter too.
FLY – It is the end of the World. You’re trapped in the funnel. ALL the bulls are trapped in the funnel. All those fools who went long yesterday are trapped. Tomorrow they will understand what it really feels like to be trapped in a funnel.
I could have gone long yesterday. But I did not. I thought about it , looked at my banks shorts going against Me by 20-30% and I said ‘Fuck it, I’m shorting more’
For the record once again, straight from CAP:
Long FAZ $63.89 Avg cost basis ~ Currently $44.50
Short C – $3.51 ~ Currently $3.97
Short BAC – $5.77 ~ Currently $7.00
Short JPM – $23.66 ~ Currently $26.12
Short WFC – $15.59 ~ Currently $19.82
It looks to me, Like CAP is trapped in a funnel.
🙁
Poor CAP will never learn.
Fly, it’s time to fire up the time machine and go two weeks into the future to see which direction this whore of a tape is going!
Keith Hernandez too, I don’t think they rocked though, they were more into the powdered shit…
I did like Lenny Dykstra
TLT did a 61.8% retracement of last big leg up. Chart looks like a bounce coming also: http://img220.imageshack.us/my.php?image=tlt1292009tu5.png
Rimm’s new BlackBerry is selling for $4.00 less than it cost to build.
watching for late-day fuckery shenanigans…
4fl3x: watch it, the horizontal support lines are more important, and try to find the closest support. From what I’m seeing, it’s late November at around 105, rather than fibs.
Sniper & Gwar — when I was in college, I used to bartend at this high end northern Lawn Guyland golf club in Sands Point. After work, sometimes we’d repair to this little bar in Port Washington called “The Library,” and it seemed like every night there were a handful of Mets there, including Hernandez, Dykstra… and that fat relief pitcher… I can’t think of his name (I was a Yankee fan, so I did not buy them beers), but wow… what a surly sonofabeetch.
________
__________
I’m DUG in deep.
Mars.
If EGO can bust 7.90 here with some pressure, it might just make me an ego-maniac.
_________
You children need to reach back to the real Mets, Ed Kranepool, Choo Choo Coleman, Hot Rod Kanhel, Roger Craig, Jack Fisher, Al Jackson, and on and on…now those were the really Mets!
ERYudite.
Sweet, AH sale on JNPR!!