I’m not adding to any shorts, not am I buying anything. I am sick of this parade of the palsy’s. I am going to sell off more of my longs into any strength and leave the proceeds in cash.
I am not ruling out any participation in a snap back rally. However, for now, I believe the market is getting ready one of its patented “fuck you, you’re dead” patterns, that can drive a man to the soup line.
As of now, I am pretty sure both DUG/ERY will be left intact. It’s a fantasy to believe oil/gas stocks will offer market leadership, while oil is pinned in the 30’s and the world is in one big depression.
On a rally, I will sell out of BUCY, MT, ACM, JRJC and whatever residual Chinese stuff lying around (there is always residual Chinese stuff lying around). The only stock worth holding is LNN.
Watch GE very closely and quietly. If that son of cock breaks $10, the market will start to discuss a possible GE failure. All of the negativity is really getting to me. Life must be grand for some of you ostrich heads in the sand type, just painting every pig gold because you’re an asshole.
Just to recap: I will use any strength to sell longs. I will not add to or reduce short positions. And, hopefully, I can build up my cash position to 65-70%, without taking too many losses.
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Fly is the Babe Ruth of this game
Sans the FUPA
Fly – going 60-70% into cash is in itself an investment. What cash are you going into ? USD ? Why not buy some GLD and SLV here since they are ‘real’ currency vs that fake green funny looking stuff.
closing out all shorts,
the prof smells a ralley
picking up Hig, Met… a bit of c
Cycle says– “turn soon.”
So did yesterday’s action.
Proceed w. caution.
____________
The FLy is a God in training. 8)
–
GE is terminal. 😛
confirmed my “maw”
My reptilian brain had me get long the SPY at the open.
Jake
Even if we do “turn,” who cares? Any rally will be sold within days. Time to take your head out of the sand.
mrkcbill thinks Kia’s are sporty chick magnets.
It’s true, any rally is sold back again. Hey, but look at the good side. Things can only go to zero now and it’s so much closer.
sellers look tired here- short side overcrowded..still long guns.
tight stops on HIG, Met…
long SSO stop below 779 on spx
Hey Fly
looking at your 09 prediction.
Gold will collapse in the second half of 2009, under $500 per ounce.
Still holding onto that. Honest question… no smart ass reply.
Anon
Yes.
picking up more V here…
March puts on SPY and April puts on XOM.
Don’t want to see markets go down, but they are going to anyway. Might as well follow..
To answer a question from the previous thread, gold particles can also be suspended in the atmosphere in an attempt at terraforming or to influence climate change.
One school of thought hypothesizes that we value gold from ancient times because our ancestors traded gold with space alien magicians for advanced technology.
Not unlike the current concept of trading coin with The Fly for access to the PPT, in the hopes of elevating yourself above the other tribesmen.
My reptilian brain had me get long the SPY at the open.
That was a ballsy call.
I hope we spike so I can short some more. WFC to $5. GE to $5 JPM to $5 HIG to $5 . Not to mention FAS to $3. So much money to be made on the short side. HObama has no plan. This mortgage plan is more bullshit that won’t work.The market will figure it out sooner or later. Than we drop 1500 points. The worst is yet to come.
CAP, Saving LEH would only postpone the inevitable crash & burn.
Jake, I don’t know where gold will go, but there is more gold now that at any time in history. No one throws the stuff away and they keep making more of it.
Here we go, a nice little rally to sell into.
move stops to break even…
cousin Eddie just went to the post office and changed his home address to mine – can it get any worse?
___
Jed gets a table for one at Chucky Cheese
if there is no govt payback provision in the mortgage plan we go down, if there is and it’s smart, we end the day up 222…
Shorting more MA and V here
Everytime I hear goldilocks types talk about the price of gold they all rant about how manipulated it is.
DevilDog, and Fly:
If you see gold dropping this year, is this due to some kind of manipulation fuckery that you are aware of, or widespread currency sentiment assumptions, or some kind of physical oversupply/undersupply issue, or as our hillbilly suggests, space alien magicians?
Is it more a fundamentals view, or technical analysis view?
Mars
fuck exiting on stops…
yo fly does your herd of followers ever get on your nerves?
Fly, can you please make access to the PPT cost at least $300 per month so we can be rid of pikers like Jed?
Thank you, Sir.
70% CASH!!!! LOL
HUEVOS GRANDES, Amigo!!!
I do agree market is severely oversold, but “the elf” and Obama will be speaking soon, and market always tank when they say anything.
Question…so if GE goes belly up…that means so does CNBC? Ohh, I would LOVE to see that
Any rally will be sold within days. Time to take your head out of the sand.
Or, barring that, it’s time to “man up.”
Poosy.
_____________
My reptilian brain had me get long the SPY at the open.
There you go, Fly — the Diplodicus-Gorn bottom.
\______
I love it……
CNBC is at a loss for words….. yet they will still find room today to have some asshole on that will tell everyone to BUY BUY BUY NOW!!!! there is “no better time to buy long” BUY BUY BUY……….
If only GE could go near belly up and put CNBC on the sale block…. then we will have a fun couple of days watching the hosts beg live on TV to keep their jobs under the “soon to be new management”
Lets see….who would buy CNBC? perhaps The Fly?
on market news, looks like a few people are covering shorts right now.
Gold will collapse in the second half of 2009, under $500 per ounce.
I am beginning to smell wet dog, ovah heah.
__________
go2Mars
If you think about it, there would be a reason to “manage” the gold price – if for no other reason than to keep confidence.
It is interesting that a couple of US banks hold HUGE short positions in the metals, and add into strength (supposedly).
Let get this thing to 740, this is like watching paint dry.
Jake, I don’t know where gold will go, but there is more gold now that at any time in history. No one throws the stuff away and they keep making more of it.
Fair enough, gold’s immutability is also an asset.
Now, let me ask you a question: Are they finding/refining gold faster than they are printing new dollars?
Do ya think?
______________
Fly, I have to agree with you.Damn it.
Nothing to be bullish about.
Sold my longs at the open.FUUUUUUCK!!!!!!!!
I’m with Jake I say “man up” Poosy!
Long: LOPE SWHC SFLY NG PBE BOOM
Melissa on CNBC really likes bigger things…
“Fly”
Fly, Fly, Fly, Fly,
Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly!
We’re talkin’ fuckin’ Fly.
I had a friend named Fly,
He cast a spell a spell on me.
If me and Fly and you could be three,
Flyin’ free Tenaciously,
Skinny-dippin’ in a sea of Fly,
I’d propose on bended knee
To Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly,
Fly, Fly, Fly, Fly,Fly, Fly, Fly, Fly!
If me, and Fly, and you
Could be three
Plant a tree
Just for Fly, (just for Fly)
Just for Fly!
Just for Fly!
Just for, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, Fly, FLY!
Obama is set to speak soon — careful with those longs. Market usually hits the fuck-you switch when Washington folk start talking. Look for a fade.
GS is relatively weak right here.
Watch Hathor Resources symbol HAT. I’m balls deep in it.
Mars.
has this fucker ever been on time for any press conference?
Getting short GS right here and adding to my V right here as well.
Is this guy ever going to stop campaigning?
Look at the big boys taking the market down. Politics and short-selling. It’s a beautifull thing.
Next stop: DOW 6,000
Anybody else bothered by the fact that Obama’s public appearances resemble the Price is Right? We’ve elected Bob Barker.
Dear Mssr. Obama,
I fucked up and bought a bullshit mcmansion at the peak of the market with zero down.
I got two loans…one for $997,500 and one for $227,500.
My house is now worth $799,000.
Can you please send me a fucking check already?
The thing about gold is there is only a set amount of it on the planet. There is only a set and known amount of it that has been found and is accounted for. That said, gold mines are finding less and less of it as they move deeper into the mines. As the discovery of new gold diminishes, that alone, with the known amount of gold already accounted for gives gold a value that is easy to follow based on demand for it.
The paper dollar however has nothing backing it and as they have unlimited printing of it, its value can fall to toilet paper value…..gold at this point will be, well golden…..
here is a link to a photo taken during the 1923 depression in Germany, the german mark was so worthless, as this photo shows, this lady was buring german marks because it was worth less than the amount of wood the paper money would have bought.
http://www.flickr.com/photos/illuminating9_11/2935182962/
Gold is the only commodity in the history of human life on this planet that has had the highest value of any tradeable possession ever, during both ups and downs….. that’s the fact.
fwiw …. I’ve been not much of a fan of Obamas first few weeks, but I think he’s learning & he’s saying some good things right now.
England firing up the printing presses:
http://www.thisismoney.co.uk/news/article.html?in_article_id=476929&in_page_id=2&ct=5&in_page_id=2
What he (Obama) says.
I don’t get it.
Good Luck
Fuck the neighbor….great neighborhoods are still hard to get into.
tc – the important thing is it won’t cost the taxpayer an gram of au.
Fly…GE is a buy of a lifetime!
Just wait and see “we will beat
by a penny”.
tc – the important thing is it won’t cost the taxpayer a gram of au.
sorry about the double post
Broker,
Do you get the inkling that we are entering a period of rapid and full social order breakdown?
Serious question.
absotutely
Market Fool- Yes.
Neighbor v. Neighbor
Government v Taxpayer
Unproductive Citizens v. Productive Citizens
Labor v. Management
Complainers v. Doers
Illegals v. Legals
Eddie Haskell v. Lumpy Rutherford
Let’s split the USA into the Red States and the Blue States. Let’s see who does better (as if we don’t know).
Fuck OIL !
Hey,
Anybody knows any good apartments for rent in Manhattan? It doesnt matter where as long as it has good value. I will move there for a very short-term stint (one year or less).
Any suggestions?
It’s Charlie G. hour.
Bye Bye GS.
http://www.freakybestmanspeech.com/
A lot like the Obama Speech when you think about it. Especially near the end.
Mars.
Market about to go negative. Ahhhh, loving this tape.
Up 14% YTD now.
Portfolio is all short with 1 long (SWHC — stops at 2.25 on that one)
The action in crude is absolutely amazing.
8th straight down month. If the last Depression is anything to go by, we should get a 90% correction from oil’s bubbletop high of near 150. That puts oil at a target price of about $15.
What a clownfuck. And with another 60% left to go for crude oil, the broader markets will get no relief. Oil is telling us that the world economy is fucked.
Phil, round me up some preban brazilian rosewood planks……seriously….. guitar back and side sizes…..
I think this is important enough to post here.
_________
Capitalism has a parasite. Its name is consumerism, and this parasite has a life and mind of its own. It cares nothing about any of the life on this planet.
People are animals. They are like dogs or sheep, except for one difference – they have the ability to transcend their “animalness” because they are aware of their animalness.
A person must devote their life to a disciplined and consistent spiritual life that is based in conscious and compassionate action (and not blind acts of convenience), in order to transcend one’s “animalness.” This collective act of transcendence may in fact propel the human race forward, helping us to evolve beyond where we are today.
We are at our core an animal, and we go to work with other animals. The goal of our work is to produce money and make more of it than competing groups of animals, to enhance the lives of the group of animals we work for.
This process was originally intended to make life better for human beings, but after thousands of years, what more do we need to make life “better”? We have the option to be fat, our ample homes protect us from the elements, we live long lives, sex is at our fingertips, and we can travel the world at a moment’s notice.
The more most of us try to improve our lives through work, the worse the world gets due to our labors. Once work no longer serves the function of ensuring survival or enhancing the quality of life, works merely contributes to environmental and cultural destruction. The standard of living then actually declines, due to our work.
So why are we working more than ever before? Because we have to, to pay our bills, because we are addicted to a consumer lifestyle. If that’s not a strong indication of animal behavior, I don’t know what is.