For all of the shit I talk about “Chinese Fuckery,” I have it all wrong. It’s “American Fuckery” that I must keep a watchful eye on.
Unlike the capitalists in China, here in America, fucking loser scum bags walk around, with hunched backs, asking for handouts—and they get it! Here in America, billion dollar hedge fund managers dedicate their shallow lives, creating elaborate ponzi schemes, instead of creating wealth for others.
Here in America, our politicians are corrupt as the night is black. And, here in America no one gives a fuck.
My apologies to China.
Goodnight.
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Just in case anyone misses it by morning.. ‘lil TTNews thang on refiners:
Today 01:27am
TTN Analysis: Oil refiners continue to report stronger Q4 refining margins
– As the major oil refiners disclose their Q4 results, most have reported substantial increases in their refining margins. Yesterday, oil refiner Tesoro disclosed that its gross refining margin in Q4 rose by 51% y/y to $12.47/bbl from $8.28/bbl. This followed the company’s Q3 margin increasing by 55% y/y. Marathon Oil’s Q4 refining gross margin was 12.48 cents vs. 4.80 cents y/y. Furthermore, Valero noted that its Q4 refining margin rose to $10.77 from $9.20 y/y.
– The stronger refining margins are partially due to the fact that crude oil prices declined in Q4. The decline in oil prices resulted in a more favorable crack spread (delta between the price of crude and oil products) for refiners. Additionally, the stronger refining margins come as various refiners have cut their capacity levels and capital expenditures. Tesoro noted that in Q4 its runs of light crude grades were down 4% on a y/y basis. Furthermore, Valero’s CEO disclosed in late January that refiners must continue to use discipline in matching production with demand, after disclosing in Dec that industry refining rates would decline going forward. In late Jan, Valero disclosed that it would close the gasoline producing unit at its Corpus Christi refinery (157K bpd) after already having shut units at its Texas City refinery (417K bpd). Also, Valero said in late 2008, that it was looking to extend outages of units at its St Charles (260K bpd) and Paulsboro (160K bpd) plants until margins rebounded.
– In terms of CAPEX reductions, Valero recently lowered its expenditures to $2.7B vs. its prior forecast of $3.5B, while Sunoco lowered its capital expenditures for FY09 to $546M from $877M. In terms of the outlook for refiners a report from Goldman Sachs issued in early Feb noted that in 2009 refiners could see higher margins as falling US gasoline demand stabilizes and reduced refinery utilization results make supplies tighter.
The Fly is god
Ahhhh… good to see I too can now put a $trillion or two to work as well, because the Zimbabwe Exchange is now open again !
The Reserve Bank of Zimbabwe Governor Gideon Gono had ordered the 3 month shutdown of the stock exchange citing allegations that some traders used fraudulent checks totaling “60 hexillion” Zimbabwe dollars to buy shares.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ad88OxfOcbo8&refer=home
yeah, it’ll be priced in dollars, but you know what i mean. 🙂
The US has definitely lost its way.
But keep an eye on Japan. They’re going off the cliff first and could trigger America’s demise:
http://online.wsj.com/article/SB123483257056995903.html?mod=googlenews_wsj
Perhaps in a parallel universe somewhere out there, The Fly runs a sick website called IBankInrernetsJustice?
America has TOO MUCH of what it doesn’t need and NOT ENOUGH of what it DOES need.
Too many banks, brokerages, pizza stores, BIG houses, shopping centers, car dealers, movie theaters, rich people, fatass policemen “guarding” basketball games, meter maids, politicians, new churches, airport “security” people, university officials, jails, pro sports teams, huge sports arenas, and defense contractors.
Not enough nurses, doctors, free walk-in medical clinics, ER staffs, CARGO and port inspectors, pothole fillers, house insulators, plumbers, math teachers, car repair people, tutors, sidewalks, K-12 activity supervisors, phys ed teachers, safe LOCAL playgrounds and well maintained playing fields.
We need 4%-30 year mortgages with $100 TOTAL FEES for anyone who qualifies – miss three payments and you are foreclosed. Securitization of loans NOT allowed. And 100% tariffs on ALL imports.
Fly,
You nailed it!!!! Your best post as of yet. When will everyone else wake the f@ck up!
Phil
I don’t get that piece. They say that japan is now running a current account deficit on trade which is true. So it’s theoretically impossible now for the Japanese to be investing anywhere as they’re short of savings too. So the real question is who is now running the surpluses which leads one to the middle east.
The other thing is that the US trade deficit has basically collapsed which means it needs less offshore money to anchor is external account.
japan will do what it has always done in its history. it will wake up one day, stare at the abyss and then monetize like crazy. They did this in 1927, in the 70’s just after thr oil embargo and they’ll do it this year.
———-
Here’s another question. The corporate bond market is red hot, so why are stocks falling.
http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aRan_qqkjrAo
if the credit markets are red hot stocks may take a little while but it doesn’t sound as though it’s the end of the world for equities.
I bought some today, after being out for a long while.
Hey Dog
gold is 985…. moooooooooooooooo
Ordinarily i wouldn’t say anything however your behavior on this site… making fun of other traders because you disagree with their position……. deserves the worst rebuke..
What goes around comes around you redneck.
Moooooooooooo
Denninger calls for Oct 1987 style crash, today into Monday.
http://market-ticker.denninger.net/archives/812-CAUTION-October-87-Re-Run-On-Deck.html
da Flea, nails it …. in a nutshell.
It’s all smoke and mirrors.
Juice…the keep things in perspective…Denniger is one of the most negative people on the planet. If they found a cure for cancer, Denniger would find a way to spin it as a huge disaster.
Juice:
I can’t see one thing I disagree with with. The administration has caused the latest drop.. The stimulus was a pile of shit and Timy’s plan is no plan at all.
Europe is down 3% and the mood isn’t negative any longer it’s fucking despondent which is a little different.
It is freaking scary.
Dog
Gold is 990…. Moooooooo you fucker.
Pete – I realize that about Denninger, however he is worth reading.
J- Obama was handed the keys to the Titanic with the iceberg in site. Despite his sincere good intentions and efforts, he didn’t pick the right people & we’re going down.
Come hell or high water, I will not trade on the same side as 99% of the posters on IBC.
You got that right!
China will persecute if you f’cked up royally.
US will give you a bonus.
I think I’m going to start a business and name it “Paradise”
Then everyday I go to work it will be just another day in Paradise.
And Timmy brings the ball up the court…moves it to Obama and back to Timmy…there’s Warren Buffet in the corner and Volcker the big 6’7 post man is screaming for the ball and it goes into the post Shot Clock running down and Volcker kicks it back out to Obama for a long jumper………
I’ve been up since 9 am after going to bed at 5 am my time.
I spoke to about 25 people in the market throughout the day. I can say without a shadow of a doubt that every single one of them was bearish to the point of extreme…… like 20 out of 10.
I don’t know what that means in this market as it could be a sign of despondency where everyone has given up and selling their last stock or the bearishness is at an extreme and it goes the other way.
Markets don’t just crash, they slide before they crash. 1987 the market slid for 5 months before it tanked. It feels like we could be at that point… but who the fuck knows anymore.
What I do know is that Europe is the epicenter of the malignancy that’s setting in. And the euro is like a currency without nation behind it.
I’m shorting the Euro right here and look to add even more if the price goes down.
Dollar yen is a hard one and I’m staying the fuck out of that one unless it starts trading lower again over the next few days.
Oh and I’m long an aussie put 100 point down for serious size 3 days.
I saw Cramer doing charts. What a fucked up pumper. He is on the level of a plugged up ass crack when it comes to charts. I will never forget when he bought two houses around eight months ago for the housing turn-around. People that think they can figure out the market always end up on the down side. If someone could figure out the market [That would be the end of the market] so you still would not be a winner in the end. Did you know that a Parrot can out trade a human 78% of the time. Knowing how the brain works and price moves helps us get closer the the Parrots results. Maybe CNBC will replace Cramer with a Parrot. That I would watch!
The futures look like we are going to have a blood bath today. Gold!!!!!!! will break 1000
SKF to 200
SRS to 100
KIM to 5
REW to 90
SPY to 70
T MOE wins again!!!
Well, nothing like trying to pick a bottom. FAStest blow out ever. There’s something about leaning on 0 that makes me feel invincible and I’ve paid once again. Back to reason and using my brain, for my gut feel is nothing more than greed sometimes.
4fl3x…I am with you. Gold is knocking on the door of $1000, bearishness at an extreme…it could end up being one hell of a bear trap today. The tinder…all you need is Obama or geithner to announce the banks will not be nationalized…watch out bears.
We will all know better at the end of the day.
sold LOPE pre market
Mr. Obama are you listening!!!!!
The market says no to your leftist, socialist and Marxist ideas.
Democrats are you listening???????? Your fucking pork bill is going to blow up in your face.
Bulltards are you listening???? Stop trying to wish and hope your way out of your losing positions. Get in the funnel and take your head up your ass and live in reality.
All of you dumbasses who voted for the likes of Reid, Pelosi, Obama, Frank, Specter, Collins, Snow, Dodd, Schumer, etc, etc and most Republicans also, don’t you see that these people have only their self interest in mind?? Throw these fuckers out into the street to be tarred and feathered!!!
REVOLT!!!!
j
My quote system is down right now. What is the dollar doing?
This opening must be bought. financials across the board.
WRITE IT DOWN.
Moe
Settle down down. Not all is lost. We still have out loved ones:-)
Euro 1.2575
Yen 94 15
Aussie 6382
Stg 1.4270
What I wanna know is where’s the dog?
100% agree with you
This country is a big fuckery!!!
Its such a big fuckery that it fucked all the world with it.
the people of this country need to see the truth. stop be a stupid ignorant American and admit their stupidity.
this country need to feel shame for what it.
now its time to get punished.
Nice Henry, I saw your 150 shares go off.
The DOG is busy trying to remove a golden 2×4 from his ass
I’m going to execute my buy FAS trade today. COSTANZA style.Wish me luck. If the PPT is going to show up it will be today. Or they will be an official rejecting nationalization. All you need is someone with authority to say ‘banks are not going to be nationalized’ and the market will sprint up 5%. OPEX fuckery potential too. The stars are lined up for a rally.
Roubini on bloomberg now
Jerry Cantrell- Anger Rising. My theme for today. Enjoy.
http://www.youtube.com/watch?v=TYXHoxCSO9g&feature=PlayList&p=3584EA65806687E1&playnext=1&index=4
Paterson was comparing deficit spending to GDP during the 30s-40s. He said what we are spending is comparable to then. Furthermore, the post-war economic boom allowed us to pay down much of that debt.
I get what he is saying. We need to lay waste to whole countries so we can supply them with the materials and equipment to rebuild.
Good luck Cap (w/ FAS).
Watch BAC.
SMH to go + early.
No idea what happens from there though.
I wonder if there’s a pair trade
Buy C sell bac. there’s over a dollar spread and if they are both going to zero…..
SWHC is up fuckers!
Wouldn’t they have done the nationalization by now, if it was going to happen?
I’m looking at the 1 min chart of FAS and I see a spike to $5.5+ . WTF is that ?
I just did a pair trade:
Buy stocks and jump out the window
SWHC is breaking out here!
What a great day for SWHC to BTFO!
LOL Rodney.
I have no idea why they give you no respect.
I am done for awhile daytrading today.
A Spitzer in and out of SMH.
Better pair trade J – Long BAC short WFC. If BAC gets nationalized WFC is next. Do you realize that Wachovia had some of the shittiest loans on their books and WFC bought them. No way will WFC survive if BAC is going under.
Cat’s out of the bag. SWHC trading under book value and about to announce a blowout qtr in less than 2 weeks.
I sold BGZ. I am using the proceeds to start a meth lab.
Cap.
Sounds ok I might think about doing it.
show of hands on SWHC
Guns are the new Gold
SWHC
I am going outside right now and shoot a round off at my grapefruit in honor of SWHC.
So far so good. This weakness is being bought esp. in the financials. Only at 30% of my FAS position. I’ll enter the rest after 2:00pm EST.
Happiness is a warm gun.
How do you predict how far a short squeeze will take something like BUCY?
So it sounds like some of you guys are getting in on the long side a little?
Even if we recover some today, why wont we just continue a sell off on Monday?
What is going to stop continued sell off?
.
Lady Guenevere
What is going to stop continued sell off?
The same thing that started it…. FEAR
Anyone know why SRS is dropped precipitously from its opening and hasn’t recovered even as the markets stay down.
Henry : fear?
I have a lot less fear of a rally than I do of a continued drop. Unless Geitner comes out with some wizardry ….the markets seem to believe the banks will be nationalized, that will continue to push things lower until the bank issue is resolved.
I dont see any reason to rally at the moment. If you see a REASON and not just your fear then please share it.
I am going into Monday Neutral.
2 shares of C for a Venti Latte…intriguing….clearly a strong institution…
T MOE sells a little of his SKF position at 200. Cost basis is 120. Raising a little cash for the next attack
Get in the funnel
The super-rich will continue to corner the market on the assets of entire world. The selloff will end when individuals have nothing of value left to sell.
T MOE covers a little KIM for a nice profit
I’m guessing SRS has dropped from the open because the REITs it holds are doing better. I don’t have REITs on my watch but many homebuilders are rebounding from yesterday’s plunge.
I would be nervous holding SRS more than one hour as the last time I looked BAC was something like 40% of the counterparty paper backing SRS.
Look it up at ETF Connect.
I was listening to a money manger I have followed for many years. He said comparing today to the depression era was absurd and that 1974 may have actually been worse than today as well… Maybe this era can be called “Depression Lite
Henry, good call on SWHC, you’ve been on that for weeks now and it has held in and now up on such a crappy day otherwise. I also believe they will have a better than expected quarter result. SWHC should be headed to 3.50.
I however do not own a S&W. I in fact am looking right now to buy another pistol, a .45 but am looking at the Sig P220 ACP and the Kimber Pro II and the Para Ordnance 1991. (Devildog recomended the Colt Commander) So I will not be helping get the quarter results better. But….I’m sure plenty of people are buying them right now. People are paying full retail plus prices for guns and ammo right now…..it is unbelievable to me, the USA has gone gun crazy here lately…..
Long 34000 DIA
Why is everyone so gun crazy? They aren’t buying rifles to kill their own food in case the grocery stores go out of business. Are people afraid of their neighbors? A pistol will not help against the government.
Not sure why there is a gun craze..must be a red state thing…guns, god and booze. 🙂
PS… I live in Texas.
If we are going to have to be afraid of our neighbors then I will just hire the biggest, baddest body guard I can find.
.
Here you go all you Obama Socialists/Marxists.
The new transportation secretary is thinking of taxing drivers based upon how much mileage one drives. No doubt the higher ones income the higher the tax will be (next up).
http://www.newsday.com/news/nationworld/wire/sns-ap-lahood-vehicle-mileage-tax,0,6754105,print.story
Seig Heil!!
yeah right joe- We all know that you are paper trading
T MOE buys a little TWM
Fucker goes to 90 to fill the gap
no one seems to trust anyone anymore LG. People don’t seem to have any values anymore.
Look at the cabinet Obama tried to set up. a good number of them were tax cheats and one guy is the treasury sec.
The sec of state has been a cheat all her adult career.
Then there’s the thievery by some of the biggest names.
America really does sound fucked and people could start fearing each other.
Trader-
Massachusetts is proposing the same thing.
I for one will NOT live in fear.
PERIOD END OF STORY.
If things get really bad I will hire a body guard and give him the job of playing with my cats and keeping them safe.
🙂
.
How many executive orders will BHO sign to expand government. This fucker is a socialist, MArxist plain and simple
Artist, good luck on your purchase. I personally am believing it is foolish to buy a gun through legal means. A paper trail is created every time one is sold, and it will lead the authorities directly to you. They WILL be coming eventually.
Stick to buying guns from widows of old men. The old guys used to buy them right at the local hardware store, at Sears, through Montgomery Ward catalogs, etc… cash money with no paperwork, no registration, no nuttin’. Untraceable.
Ridiculous as it may seem to some, I recommend purchasing the humble .22 long rifle round in very large quantities. It is still cheap to buy. You can carry literally thousands of rounds on your person. And it will kill a man just as dead as a .45 will.
Your more popular “military” rounds such as 5.56mm, 7.62mm, 9 mm, etc, will all begin to carry exorbitant taxes that discourage purchase in meaningful quantity. One method to disarm the populace is to tax the living shit out of guns/ammo.
The Artist
SWHC is playing out well, thanks. Yeah I wish I could trade Sig Sauer but it’s not public.
thinking of buying a gun then Sig is the way to go.
Sounds like he is still trying to get elected.
When is the next run on Money Market? Wheres Tim? Weekend Fuckery Olympics. GE are you fucking kidding me. Where are we going without them?
Baby Boomers will color up on the next leg down.
Some days I wake up and wonder WHY I was born on this god-forsaken planet?
The only reason I can come up with is that in some previous life I blew up another planet and so in this life my punishment is to live on this one.
.
He does say he wants to transfer the gas tax to millage driven tax. Actually seems more efficient to me. i don’t get why you guys are so worried about it.
Lady G, I really don’t know why everyone is on a gun craze either. I collect guns as investments, and at the moment are better ways to put money than the market. All of my guns are worth far more than I paid for them. I have long guns and short, but some of mine have never been fired, but again, I collect them, I have no clue what the rest of america is planning to do with them….. I think they all think Obama will sign new gun laws that will prohibit the sale of certain types and they want to already have them before that happens if it happens?
But, buying guns or buying computers…folks have to make the product and the employers of all gun companies right now are not laying off anyone, some are hiring for the massive backlog they have. Some gun manufactures are released letters to dealers (I’ve read some of these) that they are no longer giving dealers times and dates as to when orders will be filled. They will get the orders whenever they get them……that’s a major backlog…..so for lots of americans working in gun factories, it’s a good thing.
Support america Lady G, go out and by a “Pink Lady”
Henry will thank you…
http://www.budsgunshop.com/catalog/product_info.php/cPath/72/products_id/411535197
Looks like obama was busy dying his afro instead of working on a plan.
C’mon J…the gas tax is simple…this miles driven strategy is just plain stupid. Think about it from a cost/enforcement point of view. Gas tax…you pay at the pump…simple. Miles driven…GPS, odometers, fageddaboutit
Artist,
I’m sorry for what I said a few weeks ago. It looks like I read you wrong.
He does say he wants to transfer the gas tax to millage driven tax. Actually seems more efficient to me. i don’t get why you guys are so worried about it.
Are you serious? If so, you are insane.
Let’s just legalize marijuana and tax the hell out of it. We can reuse some abandoned factories to process it, we can use empty store fronts to sell it. That will create jobs. Its calorie free ( unless you get the munchies from smokin’) It will CHILL OUT all these gun nuts and we can put a 50% tax on it….
Problem solved.
.
Volume on SWHC still running hot. Looks like new days high on the way.
Gold ready to break out, market ready to break, it looks like.
I agree Lady G.
Plus there will be an increase of demand at Frito Lay, etc. and will need to hire new people for the increased demand.
Wow, just got in the office now to check my portfolio. Holy shit: PERFECT DAY! Everything is imploding, my USO thankfully didnt hit its stop and SWHC is exploding the fuck higher.
Henry Fool, what’s your personal target on SWHC? I originally had 3.50 as my number. Any thoughts?
There will always be tons of guns in North America. They are part of the heritage, and the culture. If they try to confiscate them, suddenly everyone will drywall them behind walls, or bury them under the porch. “They’ve been stolen” will be the cry.
Also, North America still has about a bajillion hunters. Try to tell a deer hunter that now he can only throw rocks. Good luck. It’s not like Poland just before WW2, where guns really didn’t have much purpose. Not overly relevant here I think, but the German blitz would through Poland would have gone a lot different if Poland hadn’t just taken away guns from their population.
I don’t care too much either way. I hunt, and would be annoyed to be told now only natives can have guns or something like that.
As to taxing mileage instead of gas: Suddenly cars get less efficient, with bigger motors, and burn more gas. There would be no incentive to go easy on the gas pedal up big hills or anything.
Mars.
LadyG
FWIW, I don’t own a gun, I just shoot my friends guns when he takes me to the range.
That way I know how to shoot a gun. I also know how to disarm a gun threat so learning to shoot one was necessary.
….Anyway my point is I’ll back your new “Let’s just legalize marijuana and tax it” idea
because your much more likely to find an herbal vaporizer in my closet than a gun.
hey LG, I don’t like your idea. I have another.
I think we should raise taxes on poilly-fuisse, sundried tomatoes, cashmere sweaters, beluga fucking caviar, or some other high-dollar shit that someone like you might use.
Keep your taxes off my greenbud!
Thuderpup
You are little late gold opened higher and market was broke at open
Amazingly little fear in this market.
Bennet Sedacca
10:20:00 AM
No positions in stocks mentioned.
More downgrades
In addition to the option ARM downgrades I mentioned earlier, Moody’s also downgraded 326 Indymac tranches from 30 Option ARM deals.
Also, spreads in finance paper are blowing out in a HUGE way.
Be careful. Could be a long weekend.
Anyone thinking of buying GE? If so…how are you valuing it?
I know I know…some of you wise asses will say $0
Nice big jump in the Stock of The Year today Fly.
WFC down nineteen frickin’ percent
Phil from Brazil
SWHC target? I guess I don’t have one I want to start selling my load on the $3 break and hopefully still be holding a bit when it hits $5.
I know thats a huge range but I’ll say I haven’t sold any today. Yet.
Holy sweet Jesus, look at GE, C, BAC?
FUCKED, SPANKED, DONE, GAMEOVER! HOLY FUCKING SHIIIIIIIT!
These things are getting completely destroyed.
GE? 9!!!
C? 1.97!!!
BAC? 3.27!!
We are all exposed to GE…. not only will we be paying for the fuckers with an extra bathroom but we will be paying for their Washer and Dryer and idiot kids $200,000 5 years at Arizona State.
Legalizing MJ will also help the ad companies…they will have to have an ad campaign, more cottage industries will crop up to sell black lights, black light posters, bongs dipped in gold, more chocolate will be sold (especially M%Ms- I could put the entire bag of M & M’s in my mouth all at once after smoking pot),glaucoma patients will benefit, surgery patients will benefit, Hemp clothes will be in vogue, and there will be peace on earth.
.
BAC? 3.27?
Kind of like tenderizing meat, getting it ready for the heat.
I hope…
With C falling like it is there has to be some kind of weekend emergency government meeting. Look for some annoucement Monday about nationalization or no more mark to market or the buying of toxic assets
Fly’s making a killing on DUG.
I turfed mine. I’m too impatient. But I still did very well and am happy with what I made.
Mars.
DMG,
This BAC is worth $0. I’m just amazed at how it’s been going down in a line. The market has a way of sometimes remaining irrational with these clownish financials. No more, though. The bullshit is over. The big boys want out.
ponzi scheme ponzi scheme ponzi scheme
I can’t figure out why that term is stuck in my head. hmmm that’s weird.
Most impressive post by Fly, IMHO.
Henry Fool, I know you sold out your NG a couple of days ago (Nice one btw). But with POG doing its $995 plus thing, what do you think of a return to that stock?
What have I said about WFC being the next $5 stock. It was $16+ last week. Now under $10. Next stop $5.
SWHC playaz
get ready to unload a bit near $3
Holy crap, Fly – that PPT thing works!
Experimented with ELN – I think Gio posted the leading shorts yesterday and I covered today on an 8% move.
Ka-ching!
Xie XIe!!
That’s Mandarin for thank you, by the way –
Maybe I will post in the PG a few useful phrases for future use. Phrases like: “our house pets our very unappetizing”; and “wow your bayonettes are so sharp! You know, if you use it on me, it will be so much more dull when you use it on [name and address of informant here].”
Xie Xie!
MCO burning like Fly said it would.
Fuck them. If the banks are nationalized MCO who is going to pay MCO to rate securities?
Yeah, yeah, I know. Just expecting some kind of fookery…
Volker and Obama to speak soon??? Fox is saying within an hour
long 300 DIJBV DIA 74 expire today @ $.30
For gamblers only with piss-off money only.
If you buy these make sure you execute before close. If DIA closes anywhere above 74 you will be exercised and be a proud owner of shit load of DIA shares come monday morning. You could lose a whole lot more than you put out. Again, if you buy these, make sure you close the position before close today, if they are indeed in the money.
PIcked up MAR TSO 12.50’s @ $2.00 here.
If the big guy and Obama appear together it will be to announce the closure of the markets and suspension of all trading until further notice………For the good of all of course.
Informative post…Thanks for sharing this post !!!!!