Some of you pikers like this volatility. Personally, I’d like it to go away. It’s too much, with the crazy back and forth gyrations of the market. I want to lead a normal life, not one of a degenerate OTB guy gawking at the races.
This is fucking bullshit.
Part of me wants to just go to cash and spend the rest of my days throwing jumping jacks at people, from the back of a stretch limo. On the other hand, I’ve got work to do.
It’s a rather stupid business, this money management is. A lot of my fellow colleagues pride themselves on “proper asset allocation models” and “sophisticated estate planning.” When in reality, they’re just fee mongering money losers. They put these elaborate plans together, collect their egregious fees, from variable annuities and life insurance policies, then proceed to lose their clients money, hand over fist.
It’s a fucking joke.
What’s even funnier are the little bloggers out there, who have zero industry experience, trying to tell you (the unwashed) how fucked the business is. Hell, anyone can say that; but do they really know?
Well, I can tell you, with direct knowledge of certain on goings at certain brokerage houses, business looks grim. All of the fee based models have been destroyed, over the past 18 months. The level of disaster, worldwide, cannot be summarized in a bullshit blog post.
As far as wealth is concerned, about 40% of it, worldwide, has been disintegrated.
Those are losses you do not walk away from.
Unfortunately, it will take another 10-15 years before Wall Street recovers from this mess.
As for today’s tape:
The market looks like it wants to rally. Tech is strong, as are select retailers. However, for the most part, the market is one big fuckfest, where everyone gets it.
My favorite short squeeze play is MT. And, my favorite longs are CHL/FXI.
On the short side, I like MAC, SLG, ESS and FRT. If you are short KIM, you may want to cover and wait for a bounce to reshort.
Bottom line: I would not press shorts here, nor would I go “all in” long. Take a measured approach and try not to get so fucking excited about every tick.
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Index annuities are of the devil…
If you are reading this and you sell IAs, just know that I hate you and that you are filth
note to self : titles like “bulls you are dead/hammered” = buy the market.
Soon the Fly will be banking “big-dicked coin”!!!
Short DRYS…today they fucked up on another loan…
Full story: http://www.ft.com/cms/s/0/a69c5afa-f0bf-11dd-972c-0000779fd2ac.html.
$600MM charge on an oil rig…OIL RIG…from a shipping firm…
Many will be late to work tomorrow going for the free Denny’s Grand Slam breakfast.
well said .. & apropos 8)
word.
There’s always a bull market somewhere!
Volatility is turning everyone into day traders….or just scaring them out of the game….not what America needs right now….
Hey, so how do you get the free grandslam?
Do I have to purchase other stupid shits, like buy one, get one free?
Tech is falling apart….. we are about to break down. Hold on to your trousers if you are long.
Notice how I come back from lunch and the market dives?
Be prepared for the afternoon CNBC fuckery and the asshats jacking up some bullshit made up rumor to try to lift the market……..
Free Gland Slam – 6am – 2pm.
See: http://www.dennys.com/#
You just have to show up at Dennys tomorrow between 6am and 2PM.
http://www.dennys.com/
$TRAN : new low.
There must be about 10-12 Dennys within a 45 minute drive of my house (especially in the tourist area). Thinking about a tour of all of the Dennys until 2PM.
My own Man v. Food (on the Travel channel).
If BAC and GE can turn around, the bears will get Gored and will “go green.”
Fly, please drive over to New Jersey and shut Dennis Kneale the fuck up………
TraderCaddy:
The fine print says “while supplies last”. I bet alot more people show up than they are anticipating.
Go early to avoid the bait and switch.
Denny’s Grand Slam was my favorite post-exam breakfast in college, two at a time.
But I think this promotion is cleverly designed to re-introduce Denny’s to the lucrative “homeless,” “wino” and “crackhead” audience.
hmmmmmmmmmmmm
Shut up. Just do it.
ouch
There is a Dennys right outside the gates of Isleworth (fancy place where the professional jocks live) and Tiger Woods goes there all of the time. People actually leave him alone there to eat his grand slam in peace.
He is a second tier homeless guy since he can’t decide in which city he wants to live.
Tiger wants to live in a FL city.
No state income tax.
Suh-weeeeet.
hmm MT short % is not that much of overall float – oh well just listen to the fly….
notice this!
EGO will trade with an 8 handle this week!
DRYS is a fraud
FUCK DENNYS. Never go there. Place smells like crap. DENNY’s always smells like farts. I think its cos all those old fuckers go there and they have lose sphincters. So they let one rip here and there and stink that place up.
NO RALLY today. More ‘fuck you u’re dead’ type of action till the close. We more or less copy the European markets. Their rally attempt broke down. So will ours. Observe the weakness in BAC and GE.
Yup. Dennys doesn’t smell nearly as good as Waffle House.
I bet a lot of you losers got sucked in, eh?
CAP,
Considering that you’ve spent a considerable amount of time lately sucking “Little Cap,” maybe it’s not Denny’s you’re smelling.
The perfume counter at M doesn’t smell so good today, either: http://news.yahoo.com/s/ap/20090202/ap_on_bi_ge/macy_s_job_cuts_3
Tiger wants to live in a FL city.
I thought he already lived in Orlando?
________
I think TC was saying that he has multiple residences.
Who does he think he is, some bullshit bank exec?
The Bayhill area south of Orlando used to be where Shaq and his athletic ilk used to live when I was back there.
Libor going up. Took my corvette for a ride. More fun than this market. Risk up the Anus.
Tiger has a big house on the ocean I believe near Stuart (a place for his “small” boat). But he is in Orlando most of the time. Tons of PGA and LPGA players live either in Islworth or Lake Nona area of Orlando.
Shaq still has a house there from what I understand. Shaq wants to run for Orange County Sheriff when he retires.
Sheriff Shaq.
My Mom’s near there. Stuart and that area near the inlet that becomes the Indian River is my favorite part of Florida. Bill Nelson had a house near there when he was a congressman. Old family friend and probably the only Dem politician my Dad would allow in our house, lol. Didn’t know Tiger lived there, too.
TC, what do you think of the chips today?
just saw Eric Bolling’s head sticking out of a cardboard box on the Bowery. He said something about still holding onto his long oil positions… the guy really needs a shave.
NG out-underperforming its sector today. What’d I tellya?(LookOut! There goes the Novagooold!) And Fly, it seems to me that volatility loves a bear market, which you, ironically, claim to play best. But I know what you mean: it would be nice to feel secure enough to grab a coffee without fear of returning to find that either A) your stops have all been run or B) your stock is exactly where it was when you left, but while you were gone had spiked 25% for thirty seconds
Devil Dog, please cover your 300% short on DXO
The 819 level on the S&P is being fiercely defended as is the 7900 point on the dow. A break down and close below these levels and it could get real ugly
cof is holding up in this tape which is testament to what a fine, fine company they are. my gerbil got a credit card offer from them last fall.
meanwhile half off es-minis here…
I hear CAP gives himself a free Grand Slam every evening.
Unsurprisingly, here we are at new daily lows.
TXN,INTC,BRCM,ALTR,NSM holding up well. But could be a one day wonder as they can’t seem to go more than one day.
I was in and out SMH early but if financials like JPM and BAC do something soon SMH etf would look like a good daytrade.
Time to move out Los Angelinos!
California Crisis Deepens
Arnold Schwarzenegger and top legislative leaders continue to meet behind closed doors to hammer out a plan covering the current $16 billion gap-projected to grow to $42 billion by June, 2010
Democrats, who control the legislature, have proposed a package of massive cuts and massive tax hikes. Republicans, which have enough votes to torpedo any budget deal, will only agree to the tax hikes if there is a hard spending cap to prevent future crises.
http://finance.yahoo.com/news/California-Crisis-Deepens-Are-cnbc-14225310.html
GE just hit a new low again….. is it going to 8.50?
MI getting pounded lately. Made some shitty commercial real estate decisions huh.
POLL:
Assume you are an asshat dip buyer. Assume you asshat dip bought GE in size. You are now upside down in an eggregious way. Do you?
1) Get drunk, buy more, avg down.
2) Sell now cut loss
3) Just sit tight, wait for your price, lighten up when you get it
4) Go to Denny’s for a free grand slam
5) Other
Nasdaq red again. Shorts will bank big dicked coin this week. Big dick baby.
the beauty of this tape is that so few people are short all because a couple uber bear genius’s claim they are reversing position and going long… doug kass’s upside surprise and the oracle’s magnificent piece in the Times about buying good ol american us stocks. problem is, these asshats did not realize that they are the new contrary indicators, fuck Bill Miller, his time is past, pretty soon that ass will be right again.
all the fat cats are sitting before their screens drunk with losses…
I can’t wait untik dick “sleight bells a’ringin'” bove opens his trap again.
Charlie likes big dick.
No surprise.
MOOBER…GE Finance used to generate a lions share of GE’s profit. Those days are gone. The finance wing is now a giant lead weight tethered to the ankle of GE’s stock price as it tries to tread water. It is growing more and more tired and starting to gulp water instead of air. Jeff Immelt is also not a very strong leader and likely incapable of leading GE out of the woods. GE will see single digits within a quarter. I used to be very long GE…but will not own it again until I see huge changes in management and structure.
6) Wait for cramer to tell you that GE has bottomed and it’s time to “load up the boat. ” ‘Cause after all, he’s been advising you to “stay in the game,” buy all the way down, he has a GREAT track record, is only looking out for the little guy and besides, he’s on TV. Boo-yah.
Thanks Anton. Will do.
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=11834793&ch=4226713&src=news
MOOBER – Tomorrow is Turnaround Tooosday. Just hang tight. You’ll probably get better prices. If not you could hedge that GE by shorting some fortune cookie REITs.
Boom,
I thought you were making with the jokey-jokes/backhand pimp-slapping the retards on cnbc. I truly hope you were not referring to your own situation.
I see dead bulls, cows, sheeples, goldbugs, tbters, j(America is great!) and oil asshats.
I think I am going to lighten up some of my shorts. I just have this feeling. I think tomorrow we start a rally that lasts till mid March. It seems the shorts are not really pressing this market to the downside and this volume on the pullback is fairly low. Bottoms usually come on low volume retest of the lows. Thats what it appears we are doing. We seem to be forming an inverse head and shoulder formation on the Dow and s&P .
That’s right blame Jeff Immelt…
after all I was the greatest CEO that
ever lived and besides GE always
“beat by a penny” when I was CEO.
That being said “BUY GE and collect
a hefty dividend payed by the taxpayer.
DD,
The Romper Room would have been a lot more fun to watch if it had been you and not that crazy lady holding “the magic mirror” all the time.
I nominate you for first post-Armageddon children’s show host.
It is done….
I agree CAP
GE brings good things to Jack Welsh’s life. GE needs to cut that fucker’s perks loose. We are waiting ….waiting on Obama……….get used to it……….those people never move fast.
Fly go out to lunch for a month…..then cover….lol
could we end up in the green?
I think the market is trying to force Immelt to cut the dividend. I suspect they’re going to keep selling it until he does, because if he fucks around and loses the AAA rating, then he’s paying $13 billion a year in dividends AND his debt financing costs go up. That’s the nightmare scenario the market wants him to avoid.
For those reasons, go to Denny’s for the Grand Slam, but take your Shamwow towel to wipe the seat down.
T Boone Pickens: Oil price could increase to $60 in 2 months, $75/bbl by year end if US does not cut oil imports
.
But Lady G, what will price of oil do over the next two days? Now that the inventory reports are spread out over Tues/Wed, we could see $35/bbl by Thursday.
if we don’t close 100 points down today, I am calling bullshit!
You are a frog – WTF do you know
Anton – I was joking. just appreciating your sarcasm