The Federal Reserve’s experiment will fail. There is no proof that their insane plan can work. Moreover, thus far, everything they’ve done has resulted in disaster. They are entirely, unequivocally, out of bullets.
Men in green leotards and funny hats are buying commodity related names, at the same time yields are crashing. That’s fucking stupid. Someone is wrong and I bet it’s the dumbass equity trader.
If you made some coin, playing the long side of this tape, take profits and be a man. If you are short, well, good luck sleeping for the next month or so.
My point is this: with all of the trickery abound, why bother guessing the near term direction? With my money, I rather wait for the buyers to exhaust themselves, then go in short, large. I do not think it is smart to chase stocks. Furthermore, I think it is stupid to buy banks, after 100% moves.
Failure to adhere to the warnings outlines above will lead to, without a doubt, the ominous, yet friendly, BLACK FLAG.
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Do not worship false gods…but you can trade their picks…
Hey does anyone know a ticker for the 30 year mortgage rates? Or do you know where in Bloomberg terminal you can track it in real/near time.
And yes I am a retard yada yada but can’t seem to locate it.
Do you mean the BULL FLAG?
The Fly is God. True believers are PPT Members.
going long more ammo this afternoon…this will be ugly in 4-6 months…clueless on mkt right now..time for a vicodin!
Fly
You are one of the smartest persons I haven’t met.
After getting stopped out of my stupid FAZ trade yesterday, I’m all cash too. I find it so hard to sit here and watch the market while doing nothing. I guess that’s just immaturity, I’ve only been trading for 2 1/2 years. This time, I’m not going to try to make up for my losses with more stupidity; I’m going to follow the Fly for he knows much more than I do.
Can you tell me, what exactly are you waiting for Fly? What is your plan?
The Fed move will bring mortgage rates to an extremely low rate in an attempt to move the housing market off the dime.
Not sure if it will move homes and refinancing only because of jobs and we may be witnessing something similar to what happened in WWII.
That is the consumer has switched from spending to saving. It could be the beginning of a secular trend.
Black Flag…
When I was 21, they played at my best friends beach house in Malibu.
Insanity would be a good description of Henry Rollins hawking a big loogie on the carpet, and screaming at the top of his lungs. That was considered to be WAY extreme at the time.
My, how the world has changed.
But, hey, back then, it was considered very cool to have Black Flag play at your party.
What is considered cool now? Hip hop rap bull-shit?
C’mon, that stuff will be replaced by the next thing….and we will do a full circle, full cycle.
Just like the Surf (Punks).
Bernake Sucks, America needs a revolution.
Btw,remember a coupla weeks back i mentioned DRYS,and no one commented on my purchase,well take a lookie now.
JAKEGINT,you a FAS man?
Indeed!
Late getting here today, Thanks for Part 3 Master Fly.
Fly you must have a Bloomberg terminal, can you tell me where you track mortgage rates?
Cool, as we knew it, has died Damon. Music, technology, social movements…all dead.
Rap isn’t cool anymore.
Apple’s no longer cool. Macs, iPhones, iTunes. Passe.
The green movement is no longer cool.
Facebook is, to quote Fly, is “plain ole vanilla gay”
Perez Hilton is “plain ole vanilla straight”
I’ll tell you what has jumped the shark faster than anything I’ve ever seen: Twitter. It’s already over. Oh it will grow rapidly, but its mainstream. The cools have moved on.
There is one last frontier for cool: poverty. I’m not kidding, either. Poor is cool.
Yes the Fed’s experiment will fail. But you don’t think that this is IT? No way – the “experimenting” is just getting started. Wait till they are the ONLY buyer of treasuries.
Or wait till all the bailout money finds its way back into circulation.
The US dollar will be wacked way hard.
Aweful Stagflation Coming. Things you need will go up in price. Things you don’t, won’t. Both to extreme degrees.
Today’s picture:
Gold/commodities up – the (re)inflationary theme.
10yr yield UP – the (re)inflationary theme.
Equals a dead consumer with higher prices/rates and no job. The fed will push yields down for a while, but that will not convince anyone to buy overpriced houses (yes, still overpriced!); and it may give commodities a push up, which is basically taxing the unemployed average American.
Good luck with that!
Just sold my ACI and UDN, 100% cash now. I don’t want any option expiration fuckery.
Just wanted to add, I still think this whole (re)inflationary theme is mistaken, we’re in a deflationary environment and that will not change very soon, regardless of what the Fed does. It can mitigate the vortex, but it cannot eliminate it.
Spazzflation is coming!
Sold all out and for the first time in a month made good coin. Mostly cheap stocks TIE USU TCK GTI SFD OLN BOOM all swing trades 3-8 days. All cash and fucking relaxed for the firt time in a month, coincidense, no and I am taking a Vicodin right now..peace
Chile, at what level of federal debt monetization would you say the inflationary theme is not a mistake?
Surely you don’t believe that the Fed can produce Fuckery in unlimited amounts, yet save the dollar’s purchasing power along the way?
Moober, would large gated communities full of tall naked amazon women living in barracks with 75 beds per building and requesting all men willing to stop in and fulfil their needs to mate for the sole reason of enlarging their community with “new” ones.
would this also be considered no longer cool?
the dollar is dead?
From the Dangerous Book for Boys desktop calendar, March 12th:
British Currency
“The reason British currency is called a ‘pound’ actually has to do with the weight of silver pennies. Alfred the Great set a ‘pennyweight’ as 24 ‘grains’ in the ninth century. 240 silver pennies come to a pound (lb) in Troy weight. That is why the currency is still called ‘pound sterling’ – ‘sterling silver’ is silver of very high purity.”
SLW up 11.13%
You fuckers need to understand that the double standard is back in spades!
I will quadruple tax your fucking slurpees while I hide OTB cash in my freezer.
Fuck you lowlifes!
Excellent calls, Sir Jake and the inflation is back crew.
Grandaddy:
Try this: http://www.bloomberg.com/markets/rates/keyrates.html
mrkcbill had Black Fag at his 21 birthday bash.
To Gapping, look at TBA1 or BTTM
Can someone please explain how congress can pass a 90% tax on bonuses for TARP company employees earning over $250K in one day…..
…and take f-king months to get a stimulus bill through that’s 1400 pages long that they didn’t even read? All the while, adding to the cost of economic recovery as they stalled that thing?
If this isn’t full-turbo socialism knocking at the door, please tell me what it is?
You can keep your bonus,but we’ll tax it 90%…PURE EVIL
Jed, likes to play on his CB Radio…Breaker Breaker this is Jed.
And 90% tax coming from Rangel
Banked AA and STLD and letting gold ride.
Fly are you not going to get ahead of the Fed with TLT?
100% cash?
The bonus recipients presumably engaged in no illegal activity. Congress is effectively negating valid contracts and confiscating private property.
And they’re borrowing trillions to fund the porkulus plan, which is effectively a tax on future generations (i.e., taxation without representation).
Sad days.
Anon, no they are doing what they do… Legislate/Tax. We are paying the AIG bonuses and they bank the tax. Tax hike on us!
what’s next 90% tax on all of us? a 90% tax on gains made by profits from short sales? (with 20% tax on long side profits? as if the government is forcing people to stop shorting)
there is no telling where it will end (well I actually know where it will end, but when those days come, make sure you have a nice fully stocked cabin high up on a mountain)
http://www.truthandpolitics.org/top-rates.php
I hope the link comes thru, it is historic tax rates, so rates on some will go up a lot.
CRE is officially dead.
Cost of importing goods? UP
Cost of food and energy? UP
Jobs and real wages? DOWN
Demand for cheap plastic crap and designer (Made in Mexico) clothes? DOWN
I think it’s Black Flag as in the pirate signal:
http://en.wikipedia.org/wiki/Jolly_Roger
Fly, how can the Fed be out of bullets? They are the bullet factory. And they make em with magic.