iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,433 Blog Posts

Death By a Thousand Bailouts

Seriously, dude, do you really think Obama is going to let banks set up hedge funds to buy their own assets at inflated prices, all financed by the U.S. taxpayer? You have to be smoking crack mixed with drano to think that shit will happen.

The banks are not off to the races here. Fuck that. They are the ones who will be forced to take more write offs, as the Fed and Treasury attempt to take the albatross of bad debt off their balance sheets at fire sale prices. If this government has communicated anything, it is evident they don’t give two shits and and a gay accordion player about equity holders. Their main goal here is to protect the bond guys and secure favorable trading agreements with sweat shops around the world.

What I am telling you is this: what you witnessed today, via “epic rally,” is no different than seeing a dying persons last heartbeat, before the defibrillators cease to work, sending him to dinner a la pinebox and worms.

The old model of consumption, fueled by way of slave labor abroad, built upon asinine credit policies, all propped up by a criminal government, is dead. I cannot tell you when the market will nose dive next. All I know is, before we are able to sustain higher equity valuations, the country needs to undergo a 180 degree economic face lift, as it pertains to lasting growth.

For a trade, you can venture off into a number of dead/broken sectors and make some quick coin. After all, that’s the name of the game: bank coin, no matter what. But, keep it in the back of your mind, in a very ominous way, people are hurting and the systemic damage to the system is irreversible and will lead to further job losses, which in turn will most certainly lead to a weakened stock market.

Don’t believe the hucksters on television who are calling this “the new bull market.” Tell me, what industry will lead the way: oil and copper?

Please. If the best we can do is cause hyper inflation, via Federal Reserve printing press, God help us for we are fucked on a spindle. Higher commodity prices will sink this economy for good.

Trade accordingly.

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113 comments

  1. Stiffened Dick

    Fly,

    You are just talking your book. Oh wait, you don’t have a book. You are the king of cash, lol, sorry I forgot.

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  2. bookworm

    Fly what do you suspect happens to CRE stocks, will they continue to rally with the market or are they able to drop?

    When you get a minute you should quickly put together a list of books you recommend from technical to fundamental trading

    Thanks

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  3. omfgitsjd

    I don’t think it’s a bull yet. There will probably be a third retest and then a bull for awhile. Maybe our last bull for a long time. It’s going to take some major rethinking on this rampant borrowing to generate fake stimulation.

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  4. The Fly

    My book list is in the top right hand corner, titled: iBC Library.

    I have a few new books that I am reading, but they are literary works of art, as opposed to mindless/stupid books about stocks.

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  5. The Fly

    Third test?

    STFU with your technical mumbo jumbo.

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  6. Bravo

    “What I am telling you is this: what you witnessed today, via “epic rally,” is no different than seeing a dying persons last heartbeat, before the defibrillators cease to work, sending him to dinner a la pinebox and worms.”

    “a la pinebox”…..fucking comedy gold…

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  7. Bravo

    Fly,
    Someone mentioned earlier SRS. Are you at all interested?
    Bravo

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  8. Eric

    A refreshing voice of reason, and the exact opposite of 90% of the cnbc commentators today. Thank god.

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  9. MMX

    Blast from the past… Yo Fly, if you couldn’t make money today, you are an idiot. Stop being an economist and start being a trader.

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  10. I hear on capitol hill smoking meth is much better than crack and drano.

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  11. The Fly

    Cut the racism out.

    MMX

    I am not sidelined due to fear, but caution and control. In other words, shut the fuck up asshole.

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  12. Bravo

    Hey Anon, far be it for me to police the Fly’s site, but keep your racist shit outta here. Go fuck yourself…

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  13. The Fly

    This is why you cannot keep printing money

    http://www.ft.com/cms/s/0/7851925a-17a2-11de-8c9d-0000779fd2ac.html

    The dollar will be worthless inside of two years.

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  14. Bravo

    Fly,

    This will be how one will pay for BWLD chicken wings….

    http://magicstatistics.com/2007/09/26/zimbabwean-currency-crashes/

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  15. Eric

    At least all the other countries will be printing too. And at least the US still has the most gold and lots of other “stuff”. Unless that gold has been leased or “guaranteed” out…..

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  16. omfgitsjd

    I take it the Fly doesn’t buy into there being a third leg down before the real run up.

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  17. Damon

    Wow.

    So this has come down to the difference between crack and meth.

    Meth is actually MADE with Drano (see the TV show “Br eaking Ba d” about cooking meth) Br=Bromine; Ba=Barium…both nasty substances from the periodic table of elements commonly used in the manufacture of Methamphetamine.

    So, basically, anyone who has ever appreciated high quality cocaine, would never really want to mix it with Drano.

    That is the difference between tweekers, and coke-heads.

    I put forth that the tweekers would be far-leftist folks (The ones in charge of this indian ratfuck), and coke-heads, the right minded folks (like The Fly).

    All in all, what matters here is who has the power: Pelosi, Reid, Dodd, Deep throat Frank, and last but not least, Obama.

    Bet that makes y’all feel all secure and safe-like, warm and fuzzy.

    Mo’ money.

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  18. cromagnum

    1) Long GS, which is already in bed with the gov’t
    2) Long SEF (non-leveraged inverse ETF of the financials)
    3) ???
    4) Profit

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  19. Market Fool

    The fly is god.

    Seriously dude, you read my mind HOWEVER, the fuckery always continues until joe the plumber trader has lost his entire account.

    Cheers!

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  20. j

    Fly

    The Chinese could demand any currency other than the US dollar right now. They could demand SDR right now. However the same problem comes up . How the hell are you going to go into a shop and offer SDR as a currency.

    They can of course buy gold… but they won’t as yet because gold is a shitty substitute despite what the bugs say. Reserve status belongs, always belongs to the nation that has the biggest and baddest guns. Always has been always will.

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  21. The Contractor

    Agreed, j. However a more likely scenario is OPEC pricing oil in something other than dollars. That would be quite bad for us.

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  22. Kiwin

    What are you reading Fly? I just reread the “Parliament of Whores” by PJ O’Rourke. I find it hilarious.

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  23. 308

    Interesting excerpt/good reminder from a Merrill report Friday:

    *No longer have to ask the question if we are like Japan –
    So, as the Fed’s balance sheet now expands to represent nearly 25% of GDP, we no longer have to ask the question as to whether or not we are just like Japan, for that is what the BoJ balance sheet looked like after the central bank embarked on its quantitative easing program nearly a decade ago.

    We are of the view that the Fed’s move
    was less bullish for the equity market.
    Here’s why:
    1) Fed is buying bonds not stocks
    2) Government cannot prevent nature
    from taking its course
    3) Fed does not see a flicker of light at
    the end of tunnel just yet

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  24. RosenRush

    Fly, what is this massive career shift we keep hearing about??

    As of the close I’m up 133% YTD (yes, as in more than doubled-up) and have only one small position left, which I intend to exit tomorrow. I believe this rally goes another 80-100, but why fuck with it?! There is no question we’re going back to the 600’s (500’s, anybody?), so why not just sit back and get ready to short?

    There are some names that might be worth a 1 hour trade, but chasing after small gains usually ends up painful. Have you ever tried to get that last $100 at the BJ table only to end up down $20k 7 hours later? Not worth it…trust me!

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  25. Cuervos Laugh

    What I find funny is that the Washington Post last week was stating that the People’s Republic only had $1trln and now the Financial Times is stating $2trln.

    I’m much more willing to believe FT’s numbers than the Post’s especially since they couldn’t even quote the Treasury figures properly.

    Welcome to the TradeWar

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  26. mrkcbill

    Right On Fly good post- Took a road trip to Chicago stayed right on the Mich. Mile…. 4 star Hotel $129. I can’t tell you how many 100,000 sq.ft.+ empty warehouses were just sitting on the side of the road with monster size banners AVAILABLE…FOR SALE!

    TheArtist wrote a post today that makes sense..turn off CNBC and go do some windshield surveys and see whats going on. I would like someone to show me a mini-mall thats 100% occupied. I’m seeing shopping centers locally losing tenants by the day.

    I took the family to dinner tonight for my youngest sons b-day.. There is no business tonight. I’m telling you somethings brewing out there and its not good. We might as well make Monday part of the Weekend. Shit I think my Monday newspaper has about 16 pages if that. Fuckers at the post office want to blow off another day as well.

    This shit with the banks sounds like a big fluster cluck. Whats the clearing price for Dog Shit? I think suspending this mark to market is crap. The vultures know exactly what the stuff is worth. In Overland Park, and Lenexa KS, there was 0 housing permit in January and 1 in Feb. So I guess housing starts in my area were up 100%. I pray the Government can pull this shit off.

    I like this chart. Next leg down could be ugly.
    http://dshort.com/charts/bears/four-bears-large.gif

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  27. The Contractor

    I caught that as well. Everything I’ve ever read has it at around 1 Trillion so I wonder if it was a typo.

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  28. scamster bamster
    scamster bamster

    They are just painting the tape for the Q1 ’09 statements. When earnings start rolling in the hard core selling will resume.

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  29. The Fly

    They are painting tape for April tax deadline. Need to keep the populace happy in order to debit their checking accounts.

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  30. The Fly

    Funniest book of all time: Don Quixote.

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  31. omfgitsjd

    “China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund”

    LOL. Chalk one up for the New World Order/One World government currency conspiracy theorists.

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  32. scamster bamster
    scamster bamster

    They are painting tape for April tax deadline. Need to keep the populace happy in order to debit their checking accounts.

    Interesting theory. Wait until they tally the (puny) tax receipts (shiver runs through the FOREX currency exchange). LOL

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  33. Flux Capacitor

    They are painting tape for April tax deadline. Need to keep the populace happy in order to debit their checking accounts

    Wow… maybe I’m not bat-shit crazy after all… A few weeks ago I started thinking that the gubmint is on the verge of all-out collapse, and Zero and Company are doing everything they can think of to hang on until after tax day….

    The only thing worse than our gov’t coming down, would be if it comes down the day after we all pay our taxes.

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  34. E8

    308 said:

    ” … the Fed’s balance sheet now expands to represent nearly 25% of GDP, we no longer have to ask the question as to whether or not we are just like Japan, for that is what the BoJ balance sheet looked like…”

    3/18/09 IHT:

    “Japan has already unveiled stimulus plans worth ¥12 trillion, but some economists worry about the mushrooming government debt, which already stands at around 170 percent of its GDP, the worst debt-to-GDP ratio in the world after Zimbabwe.”

    Don’t compare us to Japan or Zimbabwe yet … we still have plenty of room to move. (TIC)

    http://www.youtube.com/watch?v=vRfMmCG0DQc

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  35. The Unpredictable Johnny Rodz
    The Unpredictable Johnny Rodz

    Weed – I am standing-by for your asian fitness hosedown update. Do tell.

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  36. alf44

    …ah hem…CASH IS A POSITION !

    ———————

    I read that somewhere !

    If someone feels…for whatever reason…they wanna stay in CASH…well…

    …who among us has a say in whether they should or shouldn’t ?

    Git a life people !

    ———————-

    With all due respect, of course !

    .

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  37. JakeGint

    The Fox and the Grapes

    ———————————————————–

    One hot summer’s day a Fox was strolling through an orchard till he came to a bunch of Grapes just ripening on a vine which had been trained over a lofty branch. “Just the thing to quench my thirst,” quoth he. Drawing back a few paces, he took a run and a jump, and just missed the bunch. Turning round again with a One, Two, Three, he jumped up, but with no greater success. Again and again he tried after the tempting morsel, but at last had to give it up, and walked away with his nose in the air, saying: “I am sure they are sour.”

    ———————————————————–

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  38. E8

    Fly’s trading is under intentional suspension so his YTD performance can be verified pending the addition of a number of large feeder funds (previously under Madoff’s wing) which will more than triple his FUM … once again, Fly wins even when he appears to be losing.

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  39. Junk Spread

    Ah, the sweet smell of retribution. The fucking red Chinese send us worthless goods. We, in turn, repay them with worthless Treasuries…

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  40. dave

    They try to fuck us back like an angry rape victim with a thumbtack studded plunger handle.

    http://www.ft.com/cms/s/0/7851925a-17a2-11de-8c9d-0000779fd2ac.html

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  41. Junk Spread

    Nicely stated, Dave my good sir.

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  42. Just For Fun

    Did somebody say TBT and Gold?

    Oops, never mind Dave has the link ^^.

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  43. JakeGint

    ^^^^

    Yeah, me. But in the meantime, stocks will bot as well. Especially finnies.

    ________

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  44. The Fly

    spoken like a true PERMABULL.

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  45. The Fly

    ummm, before you claim some sort of odd victory, C is at $3 and the market still blows.

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  46. Just For Fun

    LOL @ C is at $3 (hands Fly a pin)

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  47. Goldie

    I have not read all the posts on here but if inflation was going to be blasting us ASAP, why was the USO up only 3% when the S&P was up 7% and GLD was DOWN?? No inflation anytime soon IMO.

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  48. dave

    I feel like I missed out on this rally, then I look at 2 year charts of the likes of C, DRYS, etc… I look around and see the local Volvo dealership with a paltry half dozen new cars on the entire lot, the apartment complexes sticking fucking signs in the ground everywhere like a political campaign trying to find renters who can actually pay and empty strip malls with for lease signs.

    The unemployed/underemployed surviving on what’s left of their available credit have got to be close to being tapped out.

    We treat the country’s debt like a credit card, except we don’t even make the minimum payment.

    I trust that outstanding leaders like Barney ‘I eat hot dogs without the bun’ Frank will deliver us from these tough economic times.

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  49. JakeGint

    Spoken like the fox who missed the 25% pop grapes.

    So sorry, but at least you weren’t short like, Just Got Flummoxed. (LOL @ C up 300% in a week.)

    Finger on the sell trigger kids, but don’t get hosed by the rallies.

    It can turn one into a prematurely old man teetering on the edge of the elevator shaft…

    __________

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  50. The Fly

    I am no fields medal winner jake, but would you like to explain how I missed out on 25 percent, if I went to cash last week?

    Maybe you permabull brain is out of capacity, but I was long when the market turned higher.

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  51. JakeGint

    Maybe you(sic) permabull brain is out of capacity, but I was long when the market turned higher.

    ^^^^^^^^^^

    Tsk! Fuggin’ permabull…. (rolls eyes)….

    ____________

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  52. Braveflaps

    Fly,

    I hope you’re reading the recent Grossman translation of DQ.

    I love that book – an American novel that treads similarly is

    A Confederacy of Dunces

    We got it writ large…

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  53. The Fly

    Being a PERMABULL does not make you dumb or wrong. As a matter of fact, you are quite intelligent and quite right, at the moment.

    However, you need to check yourself into a PERMABULL anon center, for you have been bullish since X-Mas, for Christ’s sake.

    May the Lord have mercy on your soul.

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  54. JakeGint

    You’re mistaken. I’m only permanently bullish (until I’m not) on the precious metal sector.

    Hell, I only recently got back into earl again. I still have no positions in tech, outside of the bit of it that’s in TNA.

    The bulk of the core is TBT and pm’s, and will remain so. The rest is “opportunity knocks.”

    _________

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  55. Jason Liske

    I like Mish’s take.

    “Somehow, Geithner (and Obama by implication) believes that igniting a bidding war between hedge funds and private equity over a bag of cow manure will inspire confidence that there’s gold in the bag. Such insanity cannot possibly work, which means it won’t.”

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  56. j

    Just thought about it.

    The Geithner plan is open to pillaging and raping the taxpayer- two well known strategies applied by wall street against a now angrified main street.

    I’m not the brightest gun in the world, so If I thought about it every other fucker who is going to participate in the plan has as well.

    The Geithner plan requires only about 6% capital injection from a private source while the rest of the loot is provided by the government on a non recourse basis.

    So why wouldn’t the funds go to the auction for toxic shit owned by bank Fuckknuckle Inc. bid up the crap to crazy levels while at the same time going long the stock.

    Then lose money on the tiny capital injection you’ve made but take home the woolly mammoth from the long stock position. Meanwhile the government holds the shit at lofty levels.

    Conclusion, Geithner’s a fucking idiot and the funds will try this shit, get caught out, Congress makes threats and the entire thing falls on its backside again.

    I think I’ll sell out most of my BAC in the next days or so, as this plan looks deranged to me.

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  57. j

    Fly,

    You’re very angry today… In fact you’ve been like a bear with a sore head all day… (no pun intended of course).

    As a fellow CS luminary, I ask you to please leave Jakester alone.

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  58. RandomFundamentalist

    Hey Fly,

    Couple other Commercial RE stocks that might join the death spiral: KRC, OFC, LRY… What are your thoughts?

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  59. wiglebot

    “The old model of consumption, fueled by way of slave labor abroad, built upon asinine credit policies, all propped up by a criminal government, is dead.”

    Yea, but I think they will hyper-inflate their way out and delay the funeral for a few years. They just said FU to the next generation.
    MLF.TO has been my gold ride.
    GG has been good to me in the last five years, but I missed it.
    .

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  60. stucktrader

    i love this run up… believe me, i am waiting. I do have ONE TRUE LONG… solar etf TAN. but that is only because it is Obama backed.

    otherwise, i am stalking this rally… i am holding my FAS puts that took a whack today, but can easily turn green by weeks end.

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  61. The Fly

    J

    Jake is a friend. I am just agitating.him for fun and he knows it.

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  62. Cookie_Curse

    Fly, what happened to your earlier “final bottom” call?

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  63. j

    I know, I was just wasting pixels, Fly…. Sorry, should have put up a smiley face…

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  64. TraderJoe

    Dear Friends,

    To make sure that I am able to correctly “buy on rumor and sell on fact”…

    –> Now that I have bought on the rumor of the Geithner’s Plan (hereinafter known as The Plan), would someone help me understand when The Plan will begin to be a fact, so that I might sell, most vigorously.

    Thx in advance for any superlative insights that you can offer…

    .

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  65. ZenProfit

    Mr. Fly:

    Where can I order an XL ibc “Fucked on a Spindle” T-shirt?

    What colors is it available in?

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  66. Polished Knob

    Where were you, asshole, when all of the shit that led to this mess was going on? Where was the outrage then? Did the country suddenly go to hell in a handbasket overnight, doochebag (sic).

    Oh, wait, now I remember – you were cheering on higher stock prices with every other cocksucking two bit piker. Let me guess – you sold everything and got short at the top. LMFAO! LMMFAO!

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  67. WhiteMansOverbite
    WhiteMansOverbite

    The less i read this blog, the more money I make.

    But it is great entertainment – to be enjoyed sparingly?

    And yes, that is right, lending money to buy money is insane, but here we are.

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  68. JakeGint

    ^^^^^^^^^^

    Hey, whaddaya know, Polished Knob is back! Just when we’d all figured he’d succumbed to his cerebrum-eroding syphillis.

    _______________

    J — it’s ironic that you refer to me as a CSFB “luminary” as I think back on my time there as being down at the deepest, darkest and most airless parts of the coal mine, with only a lone headlamp atop my hardhat guiding where to next land my pickaxe.

    ______________

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  69. JakeGint

    Test!

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  70. JakeGint

    Try try again…

    If you Askin’me — Askinmet SUCKS!!

    ^^^^^^^^

    Hey, whaddaya know, Polished Knob is back! Just when we’d all figured he’d succumbed to his cerebrum-eroding syphillis.

    _______________

    J — it’s ironic that you refer to me as a CSFB “luminary” as I think back on my time there as being down at the deepest, darkest and most airless parts of the coal mine, with only a lone headlamp atop my hardhat guiding where to next land my pickaxe.

    ______________

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  71. JakeGint

    ^^^^^^^^^^

    Hey, whaddaya know, Kielbasa Knob is back! Just when we’d all figured he’d succumbed to his cerebrum-eroding syphillis.

    _______________

    J — it’s ironic that you refer to me as a CSFB “luminary” as I think back on my time there as being down at the deepest, darkest and most airless parts of the coal mine, with only a lone headlamp atop my hardhat guiding where to next land my pickaxe.

    ______________

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  72. JakeGint

    Well, I dunno what it is, but the bullshit software just does not want to publish that last comment.

    Too fucking annoying.

    ____________

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  73. j

    jake

    get to learn how to press the return tab

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  74. Henry Fool

    Anyone gonna ride the ARST wave with me?

    Tidal wave coming!

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  75. Conan the Contrarian
    Conan the Contrarian

    Ooops it will start the 1st of April in London http://g-20meltdown.org/

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  76. kidstock

    PALM looking strong out of the gate. Should run to the mid 12’s on this surge.

    Interesting piece on their OS from Businessweek last night.
    http://www.businessweek.com/technology/content/mar2009/tc20090323_446801.htm?campaign_id=yhoo

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  77. gappingandyapping
    gappingandyapping

    This market wants to go green so badly.

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  78. Henry Fool

    HERE WE GO 9.57 am

    ARST 11.73

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  79. JakeGint

    Conan — I do hope they have man sized Puppets constructed in a “world beyond capitalism”
    for their parades.

    ________

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  80. ckaltner

    Fly,

    You said FAZ could hit $10. How low do you think SRS could go?

    Thx

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  81. El Tiberon

    This is by far the funniest thing I’ve seen this year. It came from one of the daily analyst reports I get…

    One analyst said, “the initial reaction to Fed quantitative easing was to sell the USD, but after the Geithner plan people started thinking that the US is perhaps leading the global economy out of all this.”

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  82. Henry Fool

    overweight: SFLY,ARST

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  83. Henry Fool

    Seller exhaustion!!!

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  84. DEVILDOG

    Bought 4800 SRS @ $49.54.

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  85. j

    Funniest thing I’ve heard for a while. Goldman’s is rumored to be thinking of paying back its $10 billion in Tarp money over the next month or so. The reason is obvious. They don’t want to be limited to paying their people the set limit of $250,000 salary and they want to therefore be able to poach good people from other firms.

    The other firms always suffering Goldman envy may also want to pay back their money too. Goldman envy in a real Wall Street sickness causing other banks to take silly risk and make absolutely stupid decisions.

    Now the word on the street is the government is going to try and talk Goldman out of paying back the money to stop the others from going too early.

    So it goes from “Wall Street has taken all this money from the taxpayer and we hate them, to please keep the money for a longer time.”

    You just can’t make this shit up .

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  86. T MOE

    With you DevilDog
    Been averaging into SRS for the past week or so.

    This a great reason why mark to market should stay, and why getting rid of it is just another way for the banks to manipulate and hide

    http://online.wsj.com/article/SB123785319919419659.html

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  87. DEVILDOG

    T MOE, I’m going to hold my SRS until 3/26 then sell it for the S&P bounce and run up till 4/6. Our corrupt government, fed and wall street need a decent 401K print for the first quarter to keep the sheeples from taking up arms. We’ll also run up due to hype about the world coming together to sing Kumbaya at the G20 meeting on 4/2. The payroll data on 4’6 will then sink the market to NEW lows. My final S&P target remains 150 and gold at 200.

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  88. T MOE

    I like the call DD.

    You are right about the 401k statement and the sheeples. Although yesterday’s rally was impressive, the volume was not. Tells me that institutions are still sitting on their hands. I think that most of the buying is coming from retail brokers reacting to the news of the day. Remember retail brokers don not know how to make money on the downside. They by nature are always bullish they have to be to keep their clients in the market and to continue to earn fees off the assets. The big money is waiting for the retail fools to get sucked in then hammer them again.

    For me I am sitting on 40% cash right now. I have been averaging into SRS and DUG. I am still short SPY at 80. got my teeth kicked in yesterday but I like DD believe that we test the 666 lows on S&P and break through them to 570. It is just a matter of time

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  89. j

    Dog

    Why so high? Why not the old 1932 lows? Don’t be so freaking bullish.

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  90. T MOE

    “There is a connection between efforts over the past 12 years to reduce regulatory oversight, weaken capital requirements, and silence the financial detectives who uncovered such scandals as Lehman and Enron. The assault against MTM is just the latest chapter.

    Instead of acknowledging mistakes, we are told this is a “once in 100 years” anomaly with the market not functioning correctly. It isn’t lost on investors that the MTM criticisms come, too, as private equity firms must now report the value of their investments. The truth is the market is functioning correctly. It’s just that MTM critics don’t like the prices that investors are willing to pay.”–
    Jim Chanos

    The truth spoken by a smart man

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  91. JakeGint

    Scalia Urges Patience with Barney Frank’s Heterophobia

    by Scott Ott
    for ScrappleFace · 6 Comments

    (2009-03-24) — After Rep. Barney Frank, D-MA, admitted he feared a Supreme Court ruling on homosexual marriage because “that homophobe Antonin Scalia has too many votes on this current Court“, the associate justice called on all Americans to “have patience with Rep. Frank as he struggles with his heterophobia.”

    “Barney Frank, accustomed as he is to putting like with like, apparently fears things that are hetero…meaning different,” Mr. Scalia said. “Under our Constitution, the judicial and legislative branches are not homo — meaning the same. If the people want to create law about issues not mentioned in the Constitution, they have the power to do so through their elected representatives. The judiciary is a different branch, with different enumerated powers.”

    Mr. Scalia refused to speculate about “whether Rep. Frank’s heterophobia is genetic or simply a lifestyle choice, but in either case,” he said, “it demonstrably weakens the constitution and harms society in general.”

    __________

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  92. JakeGint

    Shorting SRS here (50.07, breaking down out of bear wedge).

    Thanks, DD.

    aka:

    “TBCIE”

    _________

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  93. T MOE

    Finally someone asks about Goldman’s strangle hold on the running of the financial system.

    Funny that it come from Waters. she is hammering him

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  94. Cash-N-Guns

    someone backhand this stupid black congress-cunt so hard her fucking don king wig falls the fuck off…

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  95. T MOE

    don king wig– classic

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  96. Cash-N-Guns

    T Moe– thanks..is anyone just tired of hearing our elected retards just babble dog shit from their mouths..? fuck they are as bad as cnbc skanks.

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  97. JakeGint

    Cash — while I join in your distaste for the Socialist Congresswoman’s antics, I must warn you that your chosen form of dissent is bordering once again on unneccessarily Klansman-like regions.

    There are certainly legitimate reasons to inveigh against old Maxine, but her race in this context* is not one of them.

    _____________
    *(recognizing that her race is one of the reasons she’s holding her seat despite years of embarrassing commentary)

    _______

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  98. Cash-N-Guns

    our elected skanks sure need some dick…they just fucking talk too much…

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  99. Henry Fool

    I’ve never been so sure of a breakout in all my life.
    ARST BTFO imminent.

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  100. Cash-N-Guns

    Jake very eloquent..but the fact is she is black, not spanish or white, or asian..so whats wrong with reality mate…? whatever color she put on- she is a jackass.

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  101. DEVILDOG

    Definitely some fucked up manipulation in the market today. Can’t figure out why SRS would be down while URE and the top ten CREs are down. Due to this and a test of the previous SRS low at 48.00 I’m going to hold my SRS buy for the next few years.

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  102. mac, wri, hme, acc, tol all up

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  103. isay

    DDog, I don’t know about holding for years, but I am going to hold on and maybe add on vs. my kneejerk which is to sell about 1/2 my position if it gets up over 50. It took a huge dump an hour or so ago for some reason not related to the market trend.

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  104. gappingandyapping
    gappingandyapping

    Commercial RE is on fire!

    I see lines downtown of people just begging to see store fronts.

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  105. Braveflaps

    Seriously, WTF with CRE?

    KIM is ridiculous today.

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  106. DEVILDOG

    Thanks Jake, how’s that SRS short working out for ya? I dare you to hold it today. You are beyond stupid and your constantly bullish stupid cow positioning is going to bankrupt you soon and you deserve it when it comes. I really can not stand stupid cows. We need to kill some of you off as the herd is way too fat. Fat and stupid is no way to go through life. Just die.

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  107. Cash-N-Guns

    I want to see Geithner stand up and go Belushi on one of these liberal assfuckers…its embarassing that the american people have elected this room full of shit.

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  108. j

    See jake, your life depends on whether you’re long or short SRS to the dog.

    You’re long you live, you’re short you should die. LOL.

    Dog, you have now enticed me to go short a couple of thousand SRS just because it’s you.

    “how’s that gold short working out for ya?”

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  109. Braveflaps

    Friends don’t let friends short SRS near 52 week lows.

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  110. j

    BraveF..

    I’m not, I just wanted to upset the Devils dog that’s all.
    However I’m rooting for jake in the trade.

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  111. JakeGint

    Thanks, Dawg, your yelps of “encouragement” are always appreciated, in a most Costanza-like way.

    ___________

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  112. DEVILDOG

    j, my DZZ is working great. Can’t wait to hear from you when gold hits $600. You still stupid enough to be in the hyperinflation camp? You’re stupid.

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