No worries, The Blogfather has arrived and he has a bowl of meatballs to throw at you. Do not concern yourself with the art of investing, as it pertains to me. I work in mysterious ways. I throw banana peels in your path.
Much to my chagrin, I have a carton full of Chinese stocks, while the market depreciates under the albatross of stupid. In a broken market, such as this one, there is no escaping capital losses. One might be clever enough to out fox the lowly subhumans for a period of time. However, eventually, losses shall and will be had.
I have a choice to make, which is not an easy one. Either I “stick with my longs,” sort of just ride them out like a carnival geek. Or, I cut them out like a cancerous tumor and restart.
At least temporarily, I misjudged the zeal of the sell off, due to outlier events. Typically, the bull/bear cycles run in short time spans. What we are enduring now is somewhat unprecedented and bewildering to witness.
There is a lot of ironic shit going on right now, at least from my point of view. When I started the business, the Dow broke 7,000 to the upside. Lo and behold, here I am, more than a decade later, and the market is getting ready to break 7,000 on the downside.
How quaint.
Thus far, I have refrained from making any moves.
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The fly is God
PALM on the run…getting an early start. Next stop 10.
Zombie has contracted hydrocele
CNBC is such a fucking joke….here we go again, the asshats of power lunch begging people to buy stocks……. and “just hold them indefinitely, you’ll thank us”
I can’t wait till GE goes into such shit that they put CNBC up for sale and these asshats start to fear loosing their jobs and then and only then will these asshats realize there is a problem out there…… “out there” being the key word and “too far from them” for them to see at present…… once pink slips start to flow, they will quickly go up onto the roof and for the first time look out over the horizon with borrowed binoculars and finally see ” o my god, people way over there are in bad shape” and as they decend back down into there gold plated office…. are handed a pink slip……. those will be good days…….
Ten years, 7,000 to 7,000… so much for “investing for the long term”
This is a good time if any to get short this market. There will be a sell off in the last 2 hrs. I have a time machine of my own .
anybody know enough about the bond market to tell me whether the govt has already been buying the ten year or not? By the action of the last two months, I would say yes, though I know people explain the action as people anticipating the govt. buying these securities. Can they buy the bonds without people knowing?
Zombie is iBC’s tallest midget.
this stupid bitch talking about a bottom again. For once, Cramer offered a good rebuttal to her stupidness.
Glad your back Fly!
Fly, time for a new script and FLY TV part (?) this new episode…… “The Continuation of the Fuckery of the Criminal acts of Fraud and Market Manipulation by CNBC”
It’s hard teaching people how to make money.
You can lead a horse to water…
… but you can’t make him suck your cock.
So CAP… care to make a wager on that… say, well you know the rest.
With oil falling through the floor…. why isn’t DUG up more?
Thank Goodness Fly is back. I cant believe how yo have turned into like a trading buddy. I look forward to abusive posts meant to demean me for some reason.
Anyways headsup to ISRG. Its looking great chartwise. Fundamentals are intact. I suspect the sector will be in play soon.
There is no bottom for this market.
Let me make one thing clear. Last time we had a bullshit TARP program pushed down our throats, the market got clubbed like a dirty piñata. I don’t care that Feburary is not a seasonal fuck-you month. Rules are made to be broken. Moreover, I think bailout disappointment could be the catalyst that takes us down along with a general roll-over in the commodity sector (XOM is finally starting to break down — this last pocket of resilience is finally gone).
The technical pattern on the SP-500 is that of a beautiful descending triangle. The fact that we’re pushing slower on lackluster volume today only weakens the bulls’ case. Without capitulatory volume, the bears will murder this market slowly — death-by-a-thousand-cuts style.
Before any bullshit dip-buyers are aware of what’s up, we’ll be 300-400 points below 52-wk lows and igniting bars to the downside will ensue as panic sets in.
Next stop, before the next bear-market rally, 6000-ish.
That’s where I will be covering my 90%-plus short portfolio (SWHC is my only long — in @ 2.41 in early Feb).
Just my 2 cents.
Come on Fly, Bust a Move!
FCX is a monster today. Not to mention POT which I bought like a mofo in the $82 range this morning. Its all about long commodities & short financials, insurers and REITs.
SHUT THE FUCK UP!
http://www.youtube.com/watch?v=dPaJl7tZstM
C’mon…give credit where credit is due…Carusoe Cabrerra has an amazing set of honkers.
BWLD is, uh, flying.
hYaaaaaaaa!
I love Cake!
Revealed at last — Why Fly’s been putting his money in Chiner:
He wanted to get in on the ground floor of the “Rolling Death Bus” market.
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Fly: Do yourself a favor and listen to that Cake video. It seems like your style.
Soylent Green is pe……….
Fuck Michele’s tits, she is a fucking dipshit twit and has to go……………
look at CHTR, paul allen’s little baby is looking at bankruptcy, down to .033 cents….
Shorting CPKI with impunity. Continued short of APOL with mega impunity.
PPT FXI vs SPY cage match.
LadyG do you consider yourself a gnostic?
CPKI looks like an interesting idea, New Poster. Tell me what you know about it.
Observe WFC shitting all over the bed. Ladies and Gentlemen, I present to you the next – All Banks go to $5 stock – WFC . Short at will.
look at CHTR, paul allen’s little baby is looking at bankruptcy, down to .033 cents….
Paul Allen has a less than stellar post-MSFT investing record.
I still remember back in the early nineties when he sold his 25% stake in AOL for $250mm, only to see it go to about $15bn ($60bn total market cap) within three years.
Ouchie.
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Phil – CPKI is California Pizza Kitchen – one of those overbuilt casual dining chains that prospered during our fake years of prosperity. No more casual dining for folk. Its back to fast food – McDonalds, Burger King, Taco Bell and Pizza Hut. Therefore CPKI already 100% plus of its Nov. lows is going down.
WFC looks like a buy at $15.46 here, Cap.
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Cap — while I do agree with you on your CPKI thesis, I think TXRH is even daider (sic).
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CHARLIE TIME
Donny Duetsch got owned
Wow….Gassy is reporting Goldman has no confidence in Geithner, or his bullshit plan. They called a “secret” meeting with 20 of their biggest clients to talk about how to fix the mess.
Impeach Obama. Fire Geithner. Fucking duds.
I like that trade.
Just got short right here CPKI. TXRH is pretty fucked too, it seems, but the multiple on CPKI is higher. I like it.
Thnx for the heads up.
Chuckling all the way to Hades:
…under the albatross of stupid…
…clubbed like a dirty piñata…
The Rolling Death Bus
Soylent Green is delicious, btw. Congrats on the new son, Ottnott, if I didn’t say it earlier. “Anton Ottnott” has a nice ring to it, if he is still nameless.
Good to see Chivas posting. Hope you’re feeling better.
BTW, if you don’t have a time machine, Danny’s newsletter is the next best thing.
Back to loading my bunker with ammo and MREs.
The Gasbagarino must be paid by the rumor.
His child-like banter is embarassing
Is it hot in here? Maybe I should take this off…
DEAD STUPID COWS…SMELLS LIKE…VICTORY!
Lets go read Denns kneeles column on CNBC. Guys im heading over there right now!
(Sarcasm)
I never understood why everyone was so enamored with Geithner to begin with. The blatant hypocrisy of having your Treasury chief fail to pay his own taxes should’ve been enough to prevent his nomination but apparently he was the only one able to save us from ourselves so his nomination was pushed on through. What a dud he is.
Woodshedder gets caught drinking’n driving
http://www.youtube.com/watch?v=95qZtwJNjxk&feature=related
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maria cabruso cabrerra shoud STFU & just take her top off
and what is donny douchebag doing on financial tv duking it out with lastgasbagarino ?
No offense, Anton, but Anton Ottnott is like a triple negative. We have FAZ for that.
We wanted something more positive, something more along the lines of a male version of Pippilotta Delicatessa Windowshade Mackrelmint Ephraimsdaughter Longstocking.
Who can’t smile when they hear that name?
SPG tumbling like a little bitch. Down she goes next stop $35.
The fly is a fuckstick
From Mike Morgan –
Builders Busted – Earlier today I advised clients that the NOL (Net Operating Loss Carryback) provisions and the $15,000 Tax Credit for Homebuyers was being stripped out of the StimUseless Bill.
Remember, the NOL was so egregious, that it was turned down by Bush, Paulson and just about anybody that looked at it last year. However, that did not stop the builders from pumping millions in cash into the pockets of the lobbyists to push for this again. I even heard one or two builders hosted Nancy Pelosi at their homes to push for this.
The NOL would have allowed builders to carry losses back five years instead of two. This would have allowed them to recoup taxes they paid 3, 4 and 5 years ago for their losses now.
I received the draft below from a key source . . . Behind Enemy Lines before the news hit the media.
The builders were banking on this . . . heavily. In fact, the builder upgrades you saw from the anal-cysts these past two weeks, were all leaning on the NOL and the $15,000 Tax Credit. Now that they have been stripped out, it will be interesting to see if anal-cysts downgrade the builders! Either way, it means several builders will be forced into bankruptcy within the next 12 months.
This is also going to be a hit to retailers, REITs and other companies rallying on the tax rebate . . . and that we have shorted heavily. As this unfolds, we will profit handsomely on our short positions. We may see a hard crack down tomorrow or it may be a slow slip lower as more and more anal-cysts try to unwind positions they just pumped their clients into. Once the magnitude of this hits, the markets should drop 7-10% and I expect many of our homebuilder positions and REITs to fall 20-50%.
“Who can’t smile when they hear that name?”
http://walterwoods.files.wordpress.com/2008/08/anton1.jpg
haha @ Anton
Fly, fugheddaboud getting laid out in that pineapple shaped coffin.
I got something a little more “high tech.”
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yep…..CHTR just announced they will file Chapter 11…….
Nice one, Anton, but I see the bead of sweat on the upper lip. He’s going to bust a gut as soon as the camera stops rolling.
Contractor….no I do not consider myself a ‘ gnostic’ although they have some good teachings.
I don’t follow any one else’s teachings or philosophy. I follow my own which I have been teaching since the 1980s. I consider myself a very spiritual being-I have had countless raptures, ecstasies,personal encounters, mystical experiences,astral travel experiences to know that what we are is eternal and is not dependent on the physical body. Trouble is humanity for the most part is seduced by the physical body and therefore trapped. Few people have freed themselves from the addiction- but there are those who have.
Gnostics believe that divine souls are trapped in a material world created by an IMPERFECT god who is identified as the god of Abraham who was a warring vengeful jealous god.
Of course the god of the Bible is NOT God, but a creation of man’s own fears and lack of spiritual knowing.
The Great I AM is Oneness-Unity-Love. We separated ourselves from that love and have created our own ‘ matrix of illusions’ which are solely focused on ‘our little egos’ that we identify as personality and body. Both of which are seduced and trapped by the physical world of sensations. This illusion and matrix is held together by fear-created by our separation from Oneness/Love.
.
Ott,
Somehow I think that’s the case working on any Coen Bros. movie. I still laugh out loud at some of the lines in Raising Arizona.
Back to work. This site is like being simultaneously on the bridge and in the orchestra on the Titanic.
Other Coen lines etched in my brain, especially from Lebowski, but also:
“I got twenty other writers who can give me that Barton Fink feeling!”
“Look into your heart!” – Millers Crossing
Also, from SHITSTORM, their epic about rival plumbers in New Jersey:
“DOW just cut its divi.”
“Hey mofo, I fucked KIM into single fucking digits.”
“Braveflaps’ gone bow hunting for fuckin’ penguin AGAIN…”
“A civilization flourishes when people plant trees under which they will never sit”
LadyG -So where do absolute right and wrong come from if there are no hard rules, or consequences, and everything is a shade of gray?
Mars.
Anton,
@Raising Arizona…Preach ON! One of the best movies ever made imo.