Grandpa Fly used to say, in a very belligerent tone: “I’ll pay that much with confederate money!” As you know, he was not a big fan of “southern aggression,” nor am I a fan of buying stocks ahead of “The O.”
As expected, the market is rebounding, following 6 straight days of unrelenting selling. Once again, clowns with large noses are piling into XOM. Just so you know, XOM is the stock they (conspiracy theory) use to jerk the market higher.
Banks are ripping to the upside. I rather watch you make money in them, than have a heart attack going long. Whatever longs I have left, namely LNN and JRJC, are bouncing a little.
Bottom line: I’m not buying stocks ahead of President Obama’s speech. Fuck that. This guy is like one big hoax come true, in a very weird science fiction way. Cramer, and his jelly beaned friends, are trying to save their jobs, via goosing stocks up. I’m just trying to avoid having my brains scooped out of my skull, by roaming homeless men.
Towards the end of trading, I will nibble on a little DUG/ERY.
Fuck Gold: I bought 20,000 DZZ @ $20.35.
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The Fly is God
Wow today has been a day full of covering and selling ietf’s for me have to take some profits off the table.
Sold big chunks of SKF, SRS, TWM
Covered GS
This tape has gone insane……
the as crowded as Dunkin Donuts on free coffee day, trade of shorting the banks, has ended for the short-term. FAS to 15 shortly. Still long the guns as a hedge in case…
The S&P bounced off a picture perfect support level..I would post a chart but I dont think I can…anyway I wont list it unless the FLY allows me to, but I have the chart on my blog.
“nor am I a fan of buying stocks ahead of “The O.””
So, you might say, that you like to withdraw before the O.
I love to see the VIX drop big like it has today. Just tells me the suckers are taking the bait.
Who’s with me on SFLY?
link your blog. It’s okay.
Covered my GS earlier today. With this rip higher the fucker will be setting up for another round of shorting
T MOE – I love seeing the volume in some of the leaders. Just tells me suckers like you who have overstayed your welcome are about to get kicked down the fucking stairs. Place your bets, folks.
Time to get mo guns? This is for Jake although I don’t think it will go anywhere. A bill has been filed to amend the Constitution to eliminate the 22nd Amendment (two term limit for Prez). All hail King Obama?
http://www.thomas.gov/cgi-bin/bdquery/z?d111:HJ00005:@@@X
Fly,
With this rally, does SRS look worthwhile again, or are you solely interested in individual com RE shorts?
Earlier you’d said something to the effect that SRS was dead to you.
TC, don’t get your panties in a bunch over the bill.
The bill has zero cosponsors, and, per the Congressman’s Wikipedia entry:
In each of 1997, 1999, 2001, 2003, 2005, 2007, and 2009, Serrano introduced a joint resolution proposing an amendment to the Constitution of the United States to repeal the 22nd Amendment, thereby removing the limitation on the number of terms an individual may serve as president. Each resolution, with the exception of the current one, died without ever getting past the committee.
Puny-
The leaders are the same stocks that have been shorted the past weeks. They are bouncing today from short covering. Nothing more. There are no buyers but the shorts who are covering to take some profit and count coin. Something you know nothing about
I remember Grandpa Fly when he wanted to buy my horse Traveller right after a battle.
He offered me one of those Yankee women and a lasagna dinner at one of those fancy Italian Restaurants (Abboccato, I believe).
I told him: “Ya’ll are nuts Grandpa”.
No wonder the North lost the War.
Triple the normal volume in JPM, for example. Short covering? OK, got it.
THE PHIL BOTTOM IS IN.
THE GUNS CARRYING PUSSY BOTTOM IS IN.
The S&P bounced off a picture perfect support level
OK’d by the FLY to link my blog….thank you sir!!
http://alphalobotrading.blogspot.com/
Imagine that – – short covering taking place in the banks– who would have ever thought?
So puny are you calling this a bottom? Haven’t you been a dumbass bull for months now?
went long FAS yesterday…long TNA today…for the record, of course no one cares…
shorting gold: DZZ
Actually, I have been mostly a cash guy for the past few months, with a few options plays on both side to keep me interested. Been hovering around +/- 5% YTD from jump street. But I am itching to get big on the long side, having eased into some positions in BAC, KHD (thx Sniper6, I think), NXY, and recently SWHC (thx Henry Fool).
Can deny the bounce off the lows on the S&P with huge volume. I don’t know where we will be a year from now, but things are looking good for a near term bounce, which has the potential to rip your face off like an angry chimp.
Let it rip. I stand mostly in cash waiting to draw more blood.
GOLD WILL BREAK 900
EURO TO 135
OIL TO 55
SPX TO 950+
short Kim at 9.67
added ERY and FXP
Panda sucks boa.
puny-
Go back and take a look at all of the rallies that were led by the financials over the past year. They all met the same fate. And very soon after I might add.
Bought FAS @ 4.70 sold for 5.52 at close and bought back more DUG into close.
anyone shorting GS in afterhours? or is everyone waiting to find out how the morning looks?
you do not know how to switch to lower case on your keyboard? or are you to drunk to notice? or do you think your targets carry more weight when they are in upper case letters?
TO drunkandstoned.
ALL OF THE ABOVE
I could be wrong but I am going against DRUNK&STONED on the EURO call. I see the EURO test the 118 level soon and if I get my way, we will see the EURO below the par level against the USD sooner than later.
Alpha,
But will the Euro beat the pound in their race to (sub)parity?
AlphaLobo
Eventually the Euro goes to zero, but first it goes higher.
please add spanish transalations to your posts
We’ve been so oversold, that if the Messiah can force himself to deliver a speech that actually inspires hope and confidence, rather than comparing this to the Great Depression and warning of pending economic catastrophe, this bounce could have legs. Or if he can be bothered to provide some details about the bank plan his tax cheat Treasury Secretary is working on, that would help, too.
Given his track record, both seem like low probability events.
I suspect he’ll still be in campaign mode appealing to populist ideals.
SWHC issues a recall on some guns that apparently fire without pulling the trigger. Sweet. Approx $1 mil charge, so nothing huge, but a crappy way to end an otherwise awesome day.
Lets keep this fair…who ever is using the call name “to Alphalobo” (which is not Alphalobotrading) please be mature and stop the sillyness….thank you in advance.
Oje, mucho respeto para AlphaLobo y su sitio en español y inglés.
The speech was lack luster in other words, it sucked.. He is nothing more than an empty suit.. Said it from the beginning flash, no substance!