From a theatrical standpoint, it’s rather uninspiring to hear me talk shit about being in cash, missing out on this GODZILLA THE RAPIST rally. I want you to understand something, listen to me very closely: I am out of the market now due to necessity— so fuck off pal.
The melt up is as impressive as all of the meltdowns we’ve endured, over the past 2 years. There is no point in giving stock picks, since everything is higher. As for short positions: stay small and average in over time. The crisis of liquidity, within commercial re, has not been remedied. But, at the same time, numerically, stocks are cheap. Now if you are gauging the markets by valuation, unequivocally, the market is expensive.
Once again, I expect the market to stay at these levels or slightly higher until May. It’s spring again. The lemonade is cold and the porch is rather inviting, if I might say so. I reckon some of you Yankee Wall Street types are somewhat happy with yourselves today, following this here Iron Lotus bear trap.
As for me, well, I am just minding my p’s and q’s, while sipping on a mint julep, feverishly eating some butter laden, deep fried Southern Chicken. To go with that, I have a side order of yams and extra large collard green biscuits. Oh, I’m also wearing a rather distinguished white suit, shoes and hat made from 100% tweed.
NOTE: Yes, this blog is rather useless, while I am out of the market.
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The Zombie masterbates with sandpaper
You need some hoppin’ johns and cheesy grits to go with that there meal.
It’s steaks and rich man’s whiskey for dinner at The Contractor’s house tonight.
I envy your cash position as I am out here busting my ass to explode my gains higher. True its not easy and we are going straight the fuck up. Shorts, fuck they have been deballed and will continue to be as we shoot straight the fuck up 5% per day until we hit DOW 16,000 according to CNBC.
SRS at 50. Time to dip in?
Oh, I’m also wearing a rather distinguished white suit, shoes and hat made from 100% tweed.
Holy shit, are you in Memphis, or Suffolk, UK?
I think what you’re looking for is more in the Seersucker variety.
___________
Fly – My grandmother’s utilities stock account is up 18% YTD…Can she put up a link on your blogroll?
Jake,
I’m having a party ovah here, sponsored by Earl.
You were manic this morning and now the depressed shit is kicking in. Hang in there Fly man, this too shall pass.
On another note; I made $116.00 today so I guess that means I out-traded The Fly!Whoo hoo!
(Don’t ask how I obtained these staggering profits but if you subscribe to my newsletter for $300.00 a month, I will tell all!!!!!!,sign up now!!!!!!!!!!!!!!!)
RC —
I’m going to have to stop bathing in the stuff, as it’s gotten a wee bit too expensive.
There goes the magnificent complexion.
________
same, I took some DXO off today. Still holding though.
Fly-
Don’t you feel like with all the money being dropped out of helicopters it is only a matter of time before REITs benefit?
A meltdown in that sector would destroy the balance sheets of banks, life insurers, pension plans, etc. Seems too easy to fix by providing liquidity until the economy comes back.
The underlying assets are, in most cases, valuable. And as you have deftly pointed out the tentacles are so far reaching.
Not that I play it but- What happens to SRS when Ben extends the TALF to commercialRE? Down to 20?
I am curious what folks here think regarding this matter.
TIA
Fly, where the hell are you? Atlanta? Savannah? Birmingham? God save the queen, are you in Nashville? Meeting with a Titans client?
Chicken fry ain’t chicken, it’s a way of life.
SKF longs just caught a murder case.
If SKF is a murder case, FAZ is a murder suicide.
took a wee bit of the hell witch FAZ home…fucker is down harder than AIG approval ratings…!
That Steve “the neighbor” made a move on Fly’s wife a few week back.
After the fried chicken, I suggest a heaping slice of rhubarb pie for dessert.
If you owned a bit of skiffle,
market was stick and you were wiffle.
Holy shit, am I reading this right? Is my FAS really up 41% in one day?
I may have to tax myself egregiously for such windfall profits.
By taking them.
_________
i bought faz today average 22
As we say in Suffolk, UK, where we wear white tweeds for brisk walks across the moors and seaside, don’t “take the piss” off Fly for being in cash neutral today before you visit the other “guru” sites (who will not be mentioned here) who were egregiously short at the end of last week.
____________
FAZ-
So did I, but we are going to regret it. Count on it. This was no ordinary rally. The housing data has everyone “gay” for the bull case. I am waiting for profit taking in the banks and then getting the f**k out of the way.
When will “Colonel Fly” be re-entering the markets?
God willing, all my enemies were caught short today or margined out in FAZ.
When Señor Tropicana gets sorted out in his new office and whatnot, I’m sure the Jibber-Jabber ™ will re-commence.
UUP since Friday 13: -05.90%
S&P since Friday 13: +20.42%
The Chart
Here’s a thought. When the market corrects – how far and how fast will the commodity sectors go to?
nice to know that y’all done been assimilated
we gonna need more brave men for the assault on D.C.
😉
Thanks for all the story time but you just missed a nearly 25% rally by sitting on your hands. I assume I should go to PPT and sign up so I can waste money to miss a 25% move there too?
Where can I sign up?
HRH Fly wrote:
“God willing, all my enemies were caught short today or margined out in FAZ”
This foking pikey 1 month subscriber shorted FAZ at 10am and was happy to see it end the day down 45% compared with that stupid bitch FAS which was up 39% at close.
Using this new bank plan, banks will form funds to bid on their own assets at inflated prices and guaranteed by the tax payers. So banks will be able to pass on their losses to the tax payers. Their balance sheets will be cleaned out and tax payers will be stuck with the losses. Thus the run up in bank stocks. Get long C and BAC here. They will probably be up another 300-400% by year end.
with reality out of fashion, MAC, SLG, ESS, FRT, HME, ACC and WRI those worthless soon bankrupt real estate cos. are all up with the insanity 15%-25% today……
I find it funny these went up so high considering no one wanted them friday and they sold them down 15%-25%
so…..
are the markets melting up to higher levels so they can fall harder next time? It feels alot better to fall of the first rung of a ladder than the 23rd rung of a ladder….
This thread is made from 100% win, in Romania
Thanks Master Fly.
Bear Market Rule #1: All bear market rallies go higher than you think they will.
was low for a 5% day
Sold all my longs at the close. Made a ton of $$$s. In wait and see mode. May buy in again if we bounce from S&P 803 on a retrace.
Dog
How’s the gold position doing you didn’t mention.
” how’s that working for ya?”
J wrote:
“how’s that working for ya?”
Bastard! 🙂
RGR just hit 52 week high in afterhours.
Hah I was just going to ask where DEVILDOG was. Man you have just promised this market will continue higher for another 1000 points minimum. I would not be surprised if we touch 10,000 within the next 3 weeks at this rate. Anyone dare short this market will have their nuts cut like a cock goblin on Halloween.
UPDATE: Fly’s Horsemen of Death
Since he first released them March 14th
—————————————
MAC: -16.51%
ACC: +2.02%
HME: +4.79%
Note: WRI was not mentioned initially and will not be tracked.
He even has Fly’s “humility”
http://www.youtube.com/watch?v=PmfCa1fzEpE
You are out due to necessity?
What a bullshit answer. Margin call, boyfriend sick, redemptions?
Fuck.
More bad news for Seersucker Fly.
Looks like his team of fine Suth’n Gem’men will start off 0-1 next season.
___________
Scurvy, let me be the first to say:
“Go
suckfuck a lemon.”___________
next post.