I want to give a shot out to a colleague of mine who emphatically said the market would reverse today. Good fucking call.
In true “Fly fashion,” I was correct to hold onto my longs, as sellers exhausted themselves, while peddling real fast on their little tricycles.
By no means are we out of the woods. However, the rally into the close, going into a long weekend, bodes well for the bull camp.
To sum things up: I added to CHL, BUCY, LNN, ACM and even a little ERY. All in all, today sucked for me, since most of my longs closed down, at the same time when big oil reversed up. Fuckers.
Bottom line: We should rally from here.
If you enjoy the content at iBankCoin, please follow us on Twitter
all is god. hmmm
Bears will get their penises cut off next week.
The market genie shamwowed my gains today. Poof. Just like that.
FXI to 40.
Told you guys to cover…that Geinthner character is one shady chracter…he is after all an “elf” and they are not to be trusted. He is not the Will Farrell kind, but the Lord of the Rings one.
He will chop your fucking head off…Ill say we rally in the short term (867?) , but I am in no way geting bullish here…Instead I think, I will sell some puts to take in some premium.
I think they call this conditioning. Kind of like when the puppy pisses on the rug.
Short sellers = puppy
PPT = rolled up newspaper
Expect more of it to happen.
Wow, the Commerce Secretary nominee dropped out.
What the fuck is wrong with Obama? Doesnt he do his HW on these fuckers?
I voted for Obama, but this is fucking embarrassing.
Bernie, here. FAZ dropped over 10% in the last hour. You do not want this type of action. My Midas fund vill give you a nice steady return. Try it – you vill like it.
I love what happened today for a few reasons:
*I don’t day trade. Play the big swings.
*I already knew the government was totally corrupt rather it be Reps or Dems running the sham and that they are tied to the wall street insiders and the central bankers that just ripped off retail day traders for trillions, however, it is nice to have it CONFIRMED so I can game them long term.
*I’m glad I no longer work and pay income taxes that will be used to pay some stranger’s mortgage and keep them in their McMansion.
*Confirms my target of S&P 150 and the Greater Great Depression.
God bless America!
Notice the midday big reversal today (Thursday) which is similar to the action from last Thursday’s big ass reversal… hmmm? FAS not FAZ time? At least for a day or so? This market is so schizo, I’m afraid of committing anymore… sheeitt!!
I sold almost all my TZA north of 59.50 and legged into more TBT today. My FAS was held onto while clutching my ballsack. Fly I hope you are right.
This really is a SHAMWOW moment
DevilDog, i don’t care how much people hate you on this blog, but heres what i think:
Even when the stock market went 84% down from 1929-1933ish there were i think 4/5 20% rallies. One of those rallies were inspired AFTER a commodities burn and short time frame dollar rally . We had both a commodities burn and dollar rally. Now, i expect in forex the dollar to weaken for the time equities rally.
You will see that bears will be squeezed slowly and surely until they forget to short. Of course, those rumors and gov’t interventions (that resemble what happened in 1930s) are slowly appearing, will help bear rallies.
Folks, this is nothing to get excited about. The market was approaching oversold. There was some more vague news released, which was actually already released on Tuesday, and the indices, save for the Qs, rallied back to unchanged.
The fact of the matter is that this is how the market swings. Up, down. Up, down.
Overall, it is still down. Now new highs. Only lower lows. Bull are hanging on to hope here, and that is all.
I’m in cash. I’m not talking my book, only the facts, and a little of my gut.
Phil, the Commerce guy was a Repube and he quit because he realized that he was just a show appointment with no power. Oblama is just a puppet – a stalking horse.
The more and more we veer from reality, the more brutal the sell-off when it happens. Abandoning MTM, changing terms, whatever it is, you can’t go back in time and undo things at your convenience. I would venture that many people opining think they know what they’re talking about when it comes to credit and currency and they don’t.
DD is right in the sense that by enacting this program it confirms worse news about Housing, similar in effect to a bank CEO going on air to affirm publicly that the liquidity of the firm is ok. If you have to make that stand, it’s not OK.
No joke, they were gonna walk all over him. I’m well aware of the behind-the-scene politics with that guy.
But, let’s be honest, how did it take the guy a month to figure out that he was going to be a political peon? Seriously.
As for Obama, he needs to rein in the dems and push some shit through on his own to assert his control.
All this kumbaya shit is erroding everyone’s respect for him in Congress.
Well, made my coin today! Sold at 810 and hoped for a bounce and shit DID WE BOUNCE! YA HIGHER TO SHORT INTO! Oh we still got tomorrow, so is not over yet you bulltards!
SRS from 60.00 to 70.00 and back to 60.00 in 6-1/2 hours….
weird fucking day, the home situation is bad and getting worse yet the home builders up today?
The market and its makers and players and reality are miles away from each other.
Nice work Blues
Down the stairway if they didn’t take profits. Shorts took profits and will reload tomorrow. DevilDog is correct, going down…..Friday the 13th and all.. & XOM will hopefully lead the way down.
Hey Danny thx! I left message on your blog! I read your newsletter everyday and IS A BIG HELP! THX AGAIN!
Here to those claiming victory today even thought they lost money:
go to 4:50 min. on the link
http://www.youtube.com/watch?v=5Mm6deyLfCc&feature=related
Joe,
Here is a message for you. No need to click on a link…just read this “Fuck you, your dead”
Sully
I want to give a shot out to a colleague of mine who emphatically said the market would reverse today. Good fucking call.
Yes, Chivas, nice call.
_____________
He is not the Will Farrell(sic) kind, but the Lord of the Rings one.
ROFLMAO.
__________
I voted for Obama, but this is fucking embarrassing.
slight edit to:
I voted for Obama,
but thiswhich is fucking embarrassing_________
Drew a line in the sand (SPX 804) and not budging (ala Plutonium Petey) until it’s broken …
sully,
I am alive and well and if I were anywhere near you I’d beat the living shit out of you after force deepthroating you.
Now, scuse me…FUCK YOU! likes-to-swallow cocksucker! Just because I have been making money, doesn’t mean I am responsible for your loses, LOZZAAA.
Now go beat up you child or o dog or something helpless.
I would call the Obama Administration Plan “The Mulligan.”
You know.
A do over.
No penalty.
A free shot.
Nice try, Joe. Don’t blame me for your losses. And for your deepthroat comments…you are definitely a flaming homo. You probably enjoyed the reaming you got today from Geithner.
Sully
geez man…you are making money you say? with that attitude, it is obvious you are getting totally whipsawed.
poof….there goes your little account balance.
Republican US Senator Judd Gregg is withdrawing as President Barack Obama’s nominee for commerce secretary.
WTF flaming politics
Its better in europe, with playboys running the show
French President Nicolas Sarkozy “proposed” to Carla Bruni within two hours of meeting the former model, it has been claimed.
Ya gotta get long financials, FAS if you have stones, GS called up it’s heavies for a get together (charlie “the salami” gaspirino reported) and are plotting to save Obama and Timmy from their stupid selfs.
Obama was a puppet from day one, no experience and the constant droning inculcating “CHANGE” ..dead give away..pawn
Employee8, you better hope that line in the sand works Sunday night. One piece of bad news and this market will gap below your line and never look back.
Yes we Can!!!!…keep things just the way they were
but a buffalo chicken wang
I held my long positions without flinching. I’m sailing the same banner as fly for the time being. I’m not afraid of banking a little coin off some seasonal run ups. It’s never really bothered me. Granted the dips can get a little irritating but that comes with the territory I guess. Still waiting for the run up.
The funny thing is that they are going about this housing fix all wrong. By siding with the deadbeats and constantly shitting on the would be “real” buyers they are going to turn the entire country into a ghetto.
BWAHAHAHA!!
I don’t want “those” houses anymore, you can keep them.
BWAHAHAHA!!
smalltimeinvestor,
If memory serves me, the Greatest Bull Market ever started on Friday the 13th, 1982.
Not that anything like that will be seen again in our (everyone on this board) lifetime.
BTW, full steam ahead on taxpayer funded bonuses for Wall Street. Booyah!!
Anyone who takes a 1 yr chart of the Dow Jones Industrial Average and draws a horizontal line from 8000 get’s an A on their paper.
Some of you Californians get the Hugh Hewitt show out there in LA/SlamDiego area, I know…
I was driving around an he had the inimitable and brilliant Canuckistanian columnist Mark Steyn on. When asked about Obama’s recent comments on the Iranians and his weak decision to make his first Presidential interview on Al-Aribayah teevee, he said “this guy is starting to look like Jimmy Carter on fast forward.”
Beeyootyfull.
_______________
Anon …. then I will hedge longs with massive buys of iETF’s (SDP, EEV and SRS).
FYI: Market closed 2/16 for Presidents Day
mark steyn (quick, bomb someone now!) and I are reliable non-biased sources of information. I heard on Stefanie Miller’s show this morning that George W Bush was Herbert Hoover on fast forward.
If the sun is barreling through space at 504,000 miles per hour, orbiting the milky way galaxy which is travelling at a speed of 1.34 million miles per hour, can I apply Einstein’s theory of relativity and say that we should be able to make a reasonable estimation of possible futures?
How does the time machine work? It’s the suprises that defy typical market behavior that fascinate me. Like the implementation of the naked shorts limitation last year. That was unique. Stuff like that fascinates me.
Yardeni is a smart dude. It’s all about the housing. The only catalyst out there up or down is to suspend mark to market…Fly wins even when it looks like he is getting clown slapped.
Jake, going Costanza tonight and backing N.D. maybe the big gorilla heats up tonight.
Who said they were unbiased E8 (coward, use your regular name)?
They are a talk show host and a columnist. What, you can’t handle people espousing their opinions if they are giving “The One” a little of the in and out?
And an update for you: Bush is no longer the President. You’ll have to blame shit on your clueless fucktard now. He’s off to a “bang-up” start, speaking of “Hoover.”
Shame, I know.
_____________
A news item about government helping pay mortgages reverses the downtrend and it is just a possible plan – not fact? The sudden buying had to be computer programs – many simultaneously hit the buy button and up goes the market!
Jake, going Costanza tonight and backing N.D. maybe the big gorilla heats up tonight.
Not Costanza at all. They’ve lost — what? Seven in a row? They’ve got to be steaming. Plus, they are in touchdown Jesus Hall, where they have an unbelievable record.
Very dangerous, and I hate that little McAlarney bastid.
____________
I totally banked coin today. Days like this just prove to me the value of being a DAY TRADER! Which seems to be a dirty word for all you money managers and serious players.
However I started this game being a ‘ buy and hold’ person and got killed. Then I went to swing trading like Fly does and got killed again.
The only thing that works for me is ‘ get in and get out’. If you hold for very long you will regret it. Sure there is the odd chance if you hold an extra day or two you may make a few more dollars but the odds are just as great you will get punched, slapped and whipped into submission with big losses.
No thank you, I have made money all week – I will just stay with riding the waves of the storm up and down and surfing my way to bigger profits.
.
I wonder how much money our government wastes manufacturing pennies.
How many hours of your life have you wasted picking up pennies around the house. Or worse yet, getting them out of a vacuum cleaner or a sink drain? Taking them to the bank only to find out you need to sit the fuck down and count them correctly and put them in rolls just to be scolded by some irritated teller without a counting machine who thinks you are a moron because you don’t know WTF you are doing?
Jake….
Where do you think the GLD etf’s obtain their gold? Have you read any of JSinclair’s extremest opinions?
http://www.jsmineset.com
intraday frenzy is what I call it… too many longs = selloff…too many shorts = squeeze
it doesn’t take news to trigger this…just panic
LG, I agree. In and out worked very well for me last year. If the timing is right, it works well.
omfgitsjd
LOL…seems like a waste, but imagine if Mickey D’s or Starbux got 1 penny more for each ticket in 1 day. $10 per 1,000 etc..
I suppose time is money. I waste my time, they make the ten dollars. The honest truth is I missed breakfast, worked through lunch, and missed dinner. Getting a little irritated.
Big Mike,
Are you still short DRYS? Their ticker is about to be DOOM, with a fortune cookie for a logo:
http://www.forbes.com/2009/02/12/dryships-shipping-samsun-markets-equity-0212_drybulk_42.html?partner=yahootix
DOOM!!
DD, was this you yesterday: “Going DOWN tomorrow and so is gold. S&P and GOLD both to $600.”?
Tell ya what, I’ll give you an out here: you were being sardonic, right?
Bernie, here. So, they had a big meeting down at Goldman and didn’t invite me? They vill regret it – I have the Midas touch and I’m getting tired of being home like in a …..vell, like in a prison. I vonder how Dennis Koslowski is dese days?
The Elliot wave blogs are having a field day with this market. Current count = 1,423 different interpretations of what their magic eight ball system will predict next.
The dedicated short-sider blogs are throwing tantrums, mumbling incoherently about taking their ball and going home.
Permabulls are frustrated because the market stalls every time they think it is ready to rip to 1000.
This tape is rewarding patience, discipline and humility….while chopping the balls off hubris and greed.
I love this business.
OMG – You bulls are hilarious. You call this a rally ? You are hanging on to the market by a pubic hair attached to bottom of your testicles. Some of you sound like mental patients that escaped from an asylum.
FLY you sound like a retard. BOTTOM LINE We should rally from here !#!!@!@ WTF ??? Are u kidding me ? You aren’t the real FLY. You’re some participant from the Special Olympics that has hijacked this blog.
Its obvious that HObama and GAYthner have no fuckin plan. Their ‘plan’ is toss some shit at the wall and pray something sticks.
I’m going to have to agree with CAP on this one. I, too, am very drunk. This coil is getting loaded up hardcore. Also, this post took 7 minutes to complete with no spelling errors.
In a scary development, I find myself agreeing with Devildog more and more.
At least it’s still clear that Jake is a loon.
-DT
Re Jake. I have to agree DT ….
WTF is this all about Jake?
Who said they were unbiased E8 (coward, use your regular name)?
They are a talk show host and a columnist. What, you can’t handle people espousing their opinions if they are giving “The One” a little of the in and out?
And an update for you: Bush is no longer the President. You’ll have to blame shit on your clueless fucktard now. He’s off to a “bang-up” start, speaking of “Hoover.”
Shame, I know.
Jake, you got some splainin’ ta do!
You got the wrong commenter Jake ….
hughhewitt Says:
mark steyn (quick, bomb someone now!) and I are reliable non-biased sources of information. I heard on Stefanie Miller’s show this morning that George W Bush was Herbert Hoover on fast forward.
February 12th, 2009 at 6:47 pm
If that is what your post to me is in reference you are sadly mistaken …. not me, but I’d be happy to shove your drunk Irish ass down an elevator shaft if that will help.
I don’t know about the DOG, but Jake is really starting to make sense to me. Scary sense.
I was in Savannah the night President Obama was elected, and although I didn’t vote for him, I cried.
There was such a feeling of joy, and of hope. I will never forget that feeling for as long as I live. But now I am starting to worry. Not that he is distrustful, but that we are in big shit. And it’s way too big for our inept gov to fiX, any of them.
Glad I pulled out the 401K, invested heavily in gold, and have good friends and family.
We are all, near and far, going to have to look out for one another. Fly was right in his hero post. We are about to find out what is really important in this world. And greed, corruption and vanity needs to go. Shoot, even the DOG is right. Don’t mess with Mother Nature.
Chanci, not drunk. LOL
This type of market kills most day traders eventually.
The only people that make consistent money are the whack-jobs that have some bizarre intuition. And even they contradict themselves while making millions. So they can’t tell you what they are doing becasue they trade from intuition and talk about it from logic.
I guess I read this blog becasue I am not one of those whack-jobs but know their is at least one here.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4604826/High-debt-levels-endanger-Britains-AAA-credit-rating-for-first-time.html
Ya know fly I know how much you like kicking old men into ratholes. I wont rest until old man buffett is kicked down one. This guy has a boatload of cash in ratings agencys. and assoted bullshit
I dont like to over post but google eyes really make me ariad
I bought some more doll yen below 91. It looks like it’s going for a ride. Raised my stop to breakeven
Greenspan is the chief frauderdter of all time
Well myabe not, but it wont occur. just give david faber then ememy of the oscar or whatever, greenspan is just way to full of bullshit, think young dave has heard it all before
If that is what your post to me is in reference you are sadly mistaken …. not me, but I’d be happy to shove your drunk Irish ass down an elevator shaft if that will help.
You got me there, E8.
I live in secret fear of being attacked by aging socialist fairies.
______
^^^^^
Above goes for the Dinotopian, as well.
_____
We are all, near and far, going to have to look out for one another. Fly was right in his hero post. We are about to find out what is really important in this world. And greed, corruption and vanity needs to go. Shoot, even the DOG is right. Don’t mess with Mother Nature.
Don’t take Dog too seriously. He just read a copy of Cormac McCarthy’s The Road this summer, and it’s got him all in a tizzy.
__________
I see Jake traded back into the Weimar mindset.
At this point, how many retail investors can there be considering every time there seems to be a direction another corkscrew on the roller coaster turns.
Cuervo —
Nah, that’s just the setting on my home computer. I don’t have my Lawrence Taylor image loaded in on this one.
But Weimer is a long term view, which is why I like the PM’s. Especially now.
________
Had no idea your dad was a dunk, socialist fairy … sorry but it all makes sense now Jake.
No response necessary … I’m off to watch The World Champion Boston Celtics …
Sully and TenJedd,
YOU LITTLE shits,
I thought being short amongst “real” traders was not a dirty activity. This tells me that you are loyal long losers and instead of trading, you buy and pray that you make money. Well, let me tell you, you will continue to get fucked till you do learn to trade, which might be beyond your imbecilic brain.
Now as far as my “small account”
I did have a $180K gain today which I started pairing back before the rally. When the rally began, instead of selling 500 S&P March 79 puts, I actually bought 500 by mistake and by the end of the day lost all the gain and got to -20k by the time it was over. On top of that I didn’t see it till it was too late to do anything about it. so now I have 1000 SP contracts that I wish I didn’t have going into what seems to be a bullish open tom.
But this is small and I assure you, I will sleep fine tonight. I’ve had a $7 million DAY gain (CMGI Jan 3 2000) and I’ve had a $18 Million down year on 2002-the second down year since 1989. I’ve MADE twice that in 08 alone (my best year).
Now your turn. Please DO tell about your $143K account at scottrade and your $12,347 rollover ira with E-trade. Tell me how you lost 50% since beginning of 08 and how you shit your pants when your account is down $2,200 and feel like licking the ass of anyone who is short the market and making money. Please do tell little MONKEY!
Sorry Joe…I don’t believe you. Please scan in a copy of your trading records for the last year and post them online. Until then, your previous comments loudly claim you have a small account and probably a very small dick.
Sully
Solly sully,
When my life becomes so meaningless that I have to prove anything to little online losers such as yourself I’ll jump off a cliff.
As far as my little dicks comment, why don’t you get your wife and doughter together, I will gladly fly them to seattle, give them few orgasms they never got from you and you can ask them since you seem to be so preoccupied with my size.
you have managed to waste few valuable minutes of my life but this is where it stops. I will not spend another second responding or thinkig about the waste that you are.
Now, run along and FUCK OFF!