Credit default swaps are blowing out everywhere. Pension funds and variable annuities are blown the fuck up. Life insurance firms are fixing to default. And, finally, our President is as dumb as a bag of rocks.
I thought Bush and his class of clowns were stupid; but Obama and his devious clan of tax cheats steal the show. These men have an agenda and will stop at nothing to apply it, even if it means fucking the market with sand paper bats.
You don’t raise taxes during a depression. These fuckers are committing the exact same errors, that were egregiously committed during the Great Depression.
Believe me, I want to believe in something better than the shit I see each and every day. But, how can I trade, with confidence, on the long side, knowing these assholes are going to raise taxes on dividends in 2009? WTF!
I have a handful of longs: ISRG, JRJC, TNA, UYM and CY. I have one short: REW. And, I am saddled with 70% cash, up 15% year to date. In other words, life is good for “The Fly,” despite these cock suckers trying to take me down.
With GE, GS, MET and MS in the tank, this market cannot rally. God willing, Bush’s PPT can reemerge and jack this fucker up, so that I can sell out of this bullshit TNA.
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The Fly is God
keep watching JPM. It keeps getting uglier. Ready to break $15. SKF may see $300 today
God willing, Bush’s PPT can reemerge and jack this fucker up, so that I can sell out of this bullshit TNA.
hahahaha
that goes with the theme of ‘by design’
The bigger the lie, the easier the sell
Beware the false flag attack.
“Fucking the market with sand paper bats”….classic
are going to raise taxes on dividends in 2009? WTF!
————–
which dividends? 1c of Citi?
Fly, I’m dying for a story. Maybe something about how you will prepare or are preparing for the Depression of 2009.
ahh, but in the midst of it. the PPT (yours not the govt’s) continues to help identify
true gems for at least a day trade. GO PPT!!!!!
and, great call on ISRG
Good god look at the funds defend C. They WILL NOT let that fucker fall under a dollar. This is going to be a fucking fight till the death. Just know this, if that fucker is under 1.00 there will be riots in the streets with funny pictures of Obama on it.
God-willing I’ll survive to tell my grandchildren what martial law was like back when America made the switch over to Totalitarianism.
Kansas Fed Prez points out the obvious:
“We understandably would prefer not to “nationalize” these businesses, but in reacting as we are, we nevertheless are drifting into a situation where institutions are being nationalized piecemeal with no resolution of the crisis.”
Merging of the corporation and the state = Fascism
Jesuit’s favorite model
crazy volume in AAPL
Yes jeff, but with King Obama crowned on his throne it will be Totalitarian as well. Good stuff.
Just pretend you’re partying like it’s 1994.
What hyperbole – doesn’t everyone remember that the Fly likes to find out your opinions and then trade against them?
Hmph.
Short term memory issues abound…
Looks like WFC is trying to join GS and JPM in shitting the bed.
Yes. Totalitarian rule. And the strange thing is people seem happy with their slavery.
Must be the fluoride.
S&P 666 is the ‘go long’ signal.
GET THIS LADY OFF CNBC
Wall Street 2029- http://www.youtube.com/watch?v=E1vsmpGfB9Q
Crude is going to have a monster run.
WTF pattern on deck or will it be a LOL pattern.
In an effort to raise fresh capital, mrkcbill is selling his personal collection of colored Spanks, on EBay.
HIG is done for, I am pulling my money now.
By the way if we close down today I expect Monday to be a turning point with a potential 10% down day.
and the rebound attempt starts.
Look out for that gato muerto…
Hey Fly,
So check this out.. I work at a major technology company (in NYC) – think routers & switches… anyway… I am in the elevator talking with an executive (yeah – I am a dumb shit tech sales specialist)… so, this “executive” (i.e. Mr. Moron) runs our MetLife team. So, I say “you know Met is in a shitload of trouble due to the CDS…. they might go the way of AIG”…
Well, this bastard goes crazy on me… tells me how I am a fucking idiot… blah, blah….
I do think Met is fucked. Now, I would like to short them in a very egregious way! lol… Is it ok with a short stop on the “buy to cover”?
🙂
Cigar
In an elevator, Cigar?
You should have punched off his gay pubes and left an IBC Ace of Spades on his carcass!
got scared out of a little FAZ on that dip to 109…dang it.
What prick created (invented) credit default swaps?
If this was in China, he’d be executed.
Listen I know we fuck around on this site and people talk their books but I just want to say something serious here and I don’t have time to put a full article on this in the PG.
When people get desperate and start losing all of their income and have their budgets pegged to massive income they start doing very radical things. I am talking about Russia and the Middle East with regards to oil. As sure as I sit here right now I can tell you with a high degree of certainty that there will soon be some geopolitical conflict regarding oil. Oil is too cheap for these countries to survive and they MUST DO SOMETHING immediately else face a hostile takeover. I don’t care what you do but I would say take a couple minutes and think about this and consider taking a look at an oil ETF. Two of them are USO and DXO. If you want to hedge your position buy DUG but seriously take a look. My thoughts are there will be a major conflict in order to prop up the price soon. It has been too quiet lately and we have had draw downs the past 3 weeks. Now is the time to do it. Take it for what its worth, just my thoughts. Crude broker may opine on this.
How the hell is oil sprinting up when the market is rolling over. The “new” Chinese stimulus plan was an outright lie and I highly doubt OPEC will get the same level of compliance if they cut production from here.
Big Swinging Cigar, let me get this straight. you are lowly tech and you decided to tell the executive that runs the metlife team effectively that he is about to be out of job. hmm, where would that leave you in the scheme of things? nice career move loser.
from wiki:
Credit Default Swaps were invented in 1997 by a team working for JPMorgan Chase[7][8][9]. They were designed to shift the risk of default to a third-party, and were therefore less punitive in terms of regulatory capital.[10]
Credit Default Swaps became exempt from regulation with the Commodity Futures Modernization Act of 2000, which was also responsible for the Enron loophole. U.S. Sen. Phil Gramm (R-TX) introduced the Act on behalf of financial industry lobbyists. The Modernization Act was rushed through Congress as a companion bill to the omnibus spending bill, the last day before the Christmas holiday. It by-passed the substantive policy committees in both the House and the Senate so that there were neither hearings nor opportunities for recorded committee votes
The irony!!
Louise Yamada up on CNBC next … she will be very pessimistic and calling for s&p 600 or lower,if I recall correctly.
@gapping: I totally agree with you on oil.
What do you think of UCO?
Yes. Totalitarian rule. And the strange thing is people seem happy with their slavery.
Must be the fluoride.
I believe it is the “white” Liberal guilt. Afterall, they view “Obama” as once being a slave and now they want to be enslaved. The leftist liberals are atoning for their ancestors sins.. Doncha get it?
This post is the go long sign. Fly loves his country more than himself. Go long
I believe it is the “white” Liberal guilt. Afterall, they view “Obama” as once being a slave and now they want to be enslaved. The leftist liberals are atoning for their ancestors sins.. Doncha get it?
Gap N Yap – Interesting. I’ve been thinking of picking up some DXO for a few weeks. Allah’s blood trade higher this year!
Cigar – His reaction clearly says short that SOB. Thanks for sharing
Gap N Yap – Interesting. I’ve been thinking of picking up some DXO for a few weeks. Allah’s blood will trade higher this year!
Cigar – His reaction clearly says short that SOB. Thanks for sharing
lol. yes, when all this dumb PMs knows shit about CDS and think they are going to be richly rewarded on selling protections. Geez! America is dead, and let’s hold Yuan.
My bad on the double post ^^^^^^
4 up sessions in the past 18. I miss Paulson’s PPT rallies.
Watching idiots on this site pick stocks is like Michael J. Fox trying to get the funnybone in ‘Operation.’
Why not cancel all CDS contracts effective immediately. CDS is another way for a dumbass investor to skip due diligence. ‘I’m going to go buy some GE bonds because GE is a safe company. I’m too lazy to do due diligence and I don’t really understand how GE operates so I’ll go buy some CDS on GE bonds just in case I am wrong’
HOG’s market cap is 2x that of GM.
G&Y, that is the current theme on the street. Why do you think oil has managed to stay above 40?
The Contractor Says:
God-willing I’ll survive to tell my grandchildren what martial law was like back when America made the switch over to Totalitarianism.
********************************************
I wanna tell MINE how we guillotined the rich.
And how I pushed the wheelbarrow with the heads.
Isn’t this exactly the same reason why we had the 1987 crash? But back then it was caused by everyone buying insurance on the index (or something to that effect, not an expert)
GenerationOilBottom-
You and the rest of the Obamaniacs will find yourselves pumped full of lead if you try that shit around my neighborhood.
Where the hell is Donny anyways? I miss reading that guys posts.
ya CAP , markethas no regulation for CDS. No exchange, no SHIT!! while I was still at the swaps industry last year, we have already raised this doubt. But, the money managers can care less about it. All they do is, jump into ABX CDS to catch a falling knife. Or, they sold protection to get some premium, and then find themselves missing underperforming the benchmark.
Speaking of those MIA, where’s Jake?
He hasn’t updated his twitter feed since Mar 1…
Hey Tim,
Fuck you… you miserable pedophile. Listen up… I have known this guy a long time… he can’t handle the truth. And, trust me… given my skill set I will turn off the lights on the place.
Fuck you again.
that old skank Yamada…looks like a burnt fucking lizard..Where the hell is my Dougie Kass asspounding rally?
Thanks – Anonymous!
To just respond, I mean oil is subject to extreme political risk and right now when people are backed into a corner they will do desperate things. I would NOT be short over any weekends or nights for that matter but there are chances to short morning gaps but you must be quick. I think the money is best put long and double long. But then again I have a 12.5 month time frame left on my thesis.
My, my but there are some long faces on this thread today. But let me tell you, nothing in the markets will ever compare to the long face of a three year-old who just realized this bus is taking him AWAY from Disney and his beloved “mono-rail train.”.
Let’s try and maintain some perspective.
___
I’m hoping some of you have taken the opportunity to inspect some of the PM names we’ve discussed in the past. I continue to hold GLD, GDX, RGLD, EGO, SLV, SLW, and PAAS.
When one door closes, another opens.
___
believe Yamada (whom I saw on Fast Money at Dow 12000) call for Dow 6000
OR
believe Cramer who has called a bottom and Buy buy buy every other day???
hmmm
Good stuff, G&Y. I actually agree with you.
cramer now bearish..? what a goat turd…mkt will rally now.
Yamada called for DOW 6000 and then if that failed 4000.
Hey cybtropic, Yea and Phill Grahams wife was employed by Enron or connected directly, which is why Graham ran for cover soon after Enron collapsed. He is an ASSHAT from the past. He is directly related to this shit! He was a idiotic pick by Mcain.
Hmmm … Market getting clown raped but GE and WFC are green … didn’t someone say the market couldn’t rally until these two turned up?
I miss Bush and Paulson, at least they were market facing and would generate enough tasty rumours to cause the odd short covering rally that we could feed off. The darkie wants the market at zero by the looks of things. Looks like its gonna be a long 4 years before you can get rid of this stroker.
C-N-G
Doubtful…
Next stop… 4K
Fly’s recent post titles suggest a sudden interest in the macabre:
“Fuck the Dead”
“Death Spiral”
“America is Dead”
The FLY is a legend
Cigar,
I hope your skill set is as advertised. It may come in handy when you are in the first round of layoffs for pissing off the higher pay scale types.
On the flip side, sure would be great if you could trouser a couple hundred off a metlife short. That would likely finance your meager lifestyle for months.
Bye bye.
Tim
GE is making a run for it.