This is it for “The Fly.”
I have little desire to suck the blood from asshole dip buyers any longer. The market has crashed into a titanium wall for about the 100th time now. I sense it is time to cover my shorts, go to cash, and go eat a sandwich. If the market crashes even further, disturbing the lower depths of hells floorboards, I am prepared, as a man and a tax paying citizen of this bullshit country, to miss out on such said events.
For the record, my longs have been lit aflame this afternoon, amidst stupidity on a grand scale. However, my short positions, particularly in oil, have made up for any deficits and more, putting my year to date returns upward of 17%.
Just so you know, my short positions include: DUG, ERY, REW, SDP, CPT, ESS, FRT and a little DRR.
As for my longs: I have not sold any of them, despite their “knifeward” action.
fig
I’m told citi had a report out after hours fri that said the spx is going to 360. How much of the s&p would be bankrupt there 30% -40? more? Thats a return to the stone age there….
Today is nothing more than a reaction to the crappy weather, as we all know, the mkt goes down during ever snow storm. LOL
LOL @ stoneage.
hey Mr. Fly…
you’re covering comm. real estate shorts?
meet the new four horsemen: FDO NDN DLTR SWHC
still see DUG heading to the 40-50 range Fly?
http://www.theonion.com/content/video/sony_releases_new_stupid_piece_of
FLY
Will you also sell out of the refiners if you sell out of DUG/ERY??
PRISON TO THE FAST MONEY COCKSUCKERS!!!
Come on…they said “something brewing” in Mosaic, only to have the stock fall 14% the next day.
Those assholes were probably unloading their position.
Nice Idiot Wave prediction for today. Well advertised patterns tend to fail. The day isn’t over yet who knows we might be up by 300 before the day is done.
Usually, whoever is making money shorting knows when the turns are going to be since they’ve been in the market and are more in tune to turns whereas someone who’s out probably hasn’t followed it as closely. Forget about someone who’s long and is losing, they can’t see anything clearly. I’m going to start tipping into FAS a little bit here and look for a few other oversold names. Hope you’re right FLY.
I am selling all but a small amount of DUG/ERY.
Eventually, DUG prints $50. But, there will be short squeezes along the way.
At least we got the fucking internet from the last recession.
What did we get this for this one….stock in AIG,C,…and a bunch of old Jet Ski’s and Houses in Detroit and Baltimore. Brobama needs to text Barbara Streisand and find out what to do.
Dunno if you’re still going to give PPT stats on here anymore, but what’s it say about the insurers recently?
mrkcbill’s business selling Mary Kay cosmetics door to door will file for bankruptcy.
THE TODD,
Send your email, I will trade my PPT username and password
for the Gartman Letter. Heck, I’ll throw in a 2 year on thestreet.com Money Silver for free (Dougie Kass egregious bullish calls on the biggest market meltdown since the 40s).
ha ha ha, Jim Cramer, go fuck yourself you fucking loser……..
One day I’ll pass you as you are waiting in line at a soup kitchen, I’ll be wearing a silk suit, and just for fun I’ll say to you….”get a job” because thats just the way it is, some things will never change.
wow, so many new 52 week lows..
KO Coke, WYNN, NKE Nike is almost there, MSFT, ESV,
STP on it’s way down.. RIMM is not a new low but just ridiculous all the same..
but at least JPM gets upped to outperform 🙂
——————————————————————————
12:30 pm
12:30 Keefe, Bruyette & Woods on Monday upgraded JPMorgan Chase to outperform from market perform, expecting the bank to outperform its peers because of the momentum in its franchise, the strength of its balance sheet and more manageable capital needs.
The firm also said that if the unemployment rate stays below 10 percent, JPMorgan was unlikely to need additional capital. If the rate rises above that, however, the bank would need to raise $6 billion, KBW said, an amount it said was manageable, representing 7 percent of its market capitalization.
hahhahaa… any takers?
The Obama Donkey Punch is here!
DOW to 2000!
For the record, until we see a VIX in the 70’s, this market does not deserve to be covered.
I continue to hold my shorts.
I will cover, however, 1500 XOM at $65, given that it was my initial target when I got short in the high 70s, low 80s. At $60, I will cover my remaining 1500 and close XOM entirely.
DUG I will close at 34, as it was my projected measured move. Everything else in my short portfolio (CPKI, AAPL, NTRS, etc etc) stays.
Ron Insana is now Kneale’s copy boy…This market is relentless!
Jed ordering pizza
http://www.youtube.com/watch?v=d-w7XEEFyvs
Big Mike,
I have no idea what Real Money Silver is, but you bought a 2 year subscription of something from thStreet.com?!
HAHAHHAHAHAHAHAHAA.
Sorry, but
…HAHAHAHAHAHAHAHAHAHAHAH.
Damn, health care is getting hammered
Yeah Yeah…
Worse investment ever…and I made some ugly ones too.
One year is $999.00, two year around $1600..
anyone who has given Jim “asshat of the year” Cramer’s The Street.com money and blogs on THIS blog is a traiter and must have his nuts removed and served back to him in a garlic and gravy sauce. (of course that would almost be an insult to garlic and gravy)
On second thought, anyone who has given Jim “the dumbest retard jerkoff B-rated actor assclown pompous homo” Cramer any money for “stock market advice” should be tied to a pole and excuted at once for shear stupidity.
any other suggestions as to what to do with these people, chime in.
Big Mike you get a pass on execution this time, and you can retain your nuts. promise to not do it again.