I took an hour or so off today to communicate with the commoners (you) on my stupid blog. The result: sheer rage.
I can honestly say, 95% of people should not be managing their own money, let alone the savings of others. I have a big readership, no thanks to any of you. I’ve been throwing old ladies off boats for years now, on this here interwebs. I have learned that most people who read blogs are inexperienced tea baggers, better suited for the luxury of a rubber room than an office with a computer.
I have people banned from visiting this site all the time, mainly due to them annoying me or spreading fuckery, across iBankCoin. Let it be known, NOTHING pisses me off more than stupidity. Look you, I have a very high IQ and don’t have time to parse words with you. If you read the site and gain something from it, great. If not, you are welcome to go visit one of the two, or both!, gay Tim’s blogs. Go ahead, no one is stopping you.
I NEVER need your advice, whether it is related to finance, running a first class finance site or anything else. That’s right, I am getting all pissy and shit; what are you going to do about it? You can say: “The Fly is being a dick”; because it’s true: I am a dick. Frankly, I don’t care what you think; just stay out of my way.
As for trading:
I made more than 3% today, thanks in large part to SRS. At the close of trade, I am long FAZ, SRS, SSG, FXP, SCO, CIEN, WRI, ISIL, EZCH, GU and TLT. My sole short position is [[ACC]]. Moreover, my allocation is 55% short, 25% long and 15% cash, 5% bonds.
Over the next week or two, methodically, I will leg out of my shorts, just like I “legged in.” I do believe the market will hit new lows in 2009, just not yet. I am targeting S&P 600 by November.
At any rate, if you are short stocks, it’s important to take some money off the table on days like this, especially in this market—which is actively manipulated by secretive government agencies.
NOTE: The PPT nailed the near term top in the market to the exact day, yet again. Here is a chart that I posted on PPT last week, highlighting all previous Overall Hybrid readings of 3 aka the “ultimate sell signal in a bear market.”
FIG
what say you about bank earnings next week?
The Fly is an effing “Space Alien Magician”
http://www.ibankcoin.com/dannyblog/index.php/2009/04/07/what-im-looking-at/#comment-8504
Fucking Maria Bartiromo is reporting that AA beat analysts estimates and earned .59 a share. LOL Good grief woman.
LOL YEAH! STOCK LITERALLY POP UP!!! Man, people are quick on the trigger ehh?
Where’s the fucking SEC or John Stewart?
FYI: Last time those morons at Alcoa beat earnings was in 1960s.
!Rocinante!
Fly – ur FXP looks like its getting ready to go…also..my CPLA( Chanos pick) is about to plummet..along with APOL
You play the tough guy who doesn’t need anyone or anything, but I think that behind the rough exterior is a man who needs a good cry.
-DT
the fly is god.
btw, i made it to shore asswipe.
I remember your PPT over 3 post: http://www.ibankcoin.com/flyblog/index.php/2009/04/02/dance-bitch-dance/
You aren’t worried that your system is acting as a contrary indicator?
Oprah has a good show today.
Don’t tell Mrs. Steve.
I had to cancel my job interview to watch Oprah.
I can verify that Fly has a soft guy interior.
He bought a case of Girl Scout cookies from the other neighbor two weeks ago.
Of course they ended up in my gutters, but that is a different story.
DT, I’m holding a therapy session over here in the corner where it won’t bother Fly, come on over.
OTT
I explain why on PPT.
No.
Fly…uhhh…you’re being a dick !
——————
With all due respect, of course !!!
.
don’t let the bastards get you down.
What a crappy chart – I can’t even read it all blowed up.
P.S. That was a joke fart-brain. I know the difference between blowed and blown. Jeeeeez.
I finished with a .75% gain today myself. While I am furious I got stopped out of RIMM yesterday all in all I am ok with it. Overall I like short ACC here still until 15. Additionally I will start looking to buy back some of my sluts that I sold higher and will very soon initiate what will be a godly win in RICK, but not yet. I am testing out the Champagne room first if you will. Off to grill a goat.
He means “blown” up.
Back to detention for you.
Does anyone know what happened to Mr Mortgage?
the fly is being a dick? like that is supposed to shock anyone? better to say the fly is being the fly, and stop wantonly insulting penises.
MOS missed huge and poor guidance. It should get gutted like a dead fish tomorrow, but they’ll probably run it up instead.
The fly [profane]
the bull came upon 2 investment giants and got nailed.
For those of you who have been following the drama that is the entire comment section of Fly’s last post, I would like to sincerely apologize to the Fly and anyone else that I may have offended.
Thus was not my intention as this is one of my favorite blogs to visit. I don’t think I’m the only one when I say that the honesty and intelligence here is what separates this from 99% of the other blogs out there. I use to frequent Tim Knight’s blog in the past but quickly moved on because I found he was unable to objectively and honestly report his performance. That, to me, is child-like and shows a lack of integrity. And you cannot trust someone who has no integrity no matter how smart he/she is. Just look at the current financial crisis we’re in.
Tim Sykes’ website, I looked at for maybe 15 minutes and am waiting for the day that he’ll sell his wares, “The Book, The DVDs, The Membership, and The Alerts – A retail value of $200,000 – for only $19.99!”, and will still not buy it.
I post this for anybody who may have started frequenting this site in recent months that might not have a conclusion as to the quality of site that it is. I wish iBC all the success, for I myself have learned much from the insights and analysis of its bloggers.
I just thought I\’d drop by to let everybody know that its impossible to be banned from any website. All you have to do is view though a proxy server after the great fly has had your own ip address banned. There are millions of proxy servers out there and he cant ban them all.
He should learn to play nicely with his visitors instead.
lol @ IT Manager. Good work buddy, way to point out the obvious.
______________
In other news…Mr. LIMM, you’re dead to me!
“At a press conference Tuesday, Morgenthau announced a 118-count criminal indictment against Li Fang Wei, a Chinese citizen, and his company, Limmt Economic and Trade Co., and its various affiliates”
Damm yooooo Dee-Pleezeey, daaammmmm yoooooooo!
Now I am pubrickry emballassed on my favolite site!
Dis-onnahed!
________
Fly the chart chomper!! Your busted man 😉
Newly released footage!
Fly gives an ingrate piker “trading lessons!”
_________
I’ll applaud you for trying to salvage your reputation in coherent prose, Todd, but that’s it. I’m one of the kinder people on this site, and a huge fan of the Fly. I’d appreciate it if you spray any outbursts of venom somewhere not in my general direction in the future. Deal?
I better get out my ruler and protracter [sic] so I can analyze this here chart
Fly,
95%? You sir, are too generous.
Anyway, I kill time here in-between trades mostly chuckling at your posts and I have to say, I do enjoy the site. During that time, I have come to realize that you do know your shit.
On a serious note, let me get your opinion on something. I’ve been trading for 15 or so years and I am reasonably good at short-term (minutes to hours) trend following/fading and occasionally scalping.
I haz 2 accounts – a trading account where I’ve day traded futures for about 2 ½ years (my day-job daily living expenses account) and a self-directed 401k.
I was a great stock & sector picker in the 90’s but no comment is needed on how damn easy that was and I knew enough to figure out that I really didn’t know enough and would always be at a serious disadvantage once the tech craze ended.
Took that money + ridiculous leverage and moved into real estate in 2000 (Florida where good times were had by all). Got out when it started looking way too stupid.
So today I sit trading my daily account trying to figure out what to do with my 401k – I can open a trading account with it but… no shorts, no futures, no options… longs only with the exception of inverse etf’s (they really are protecting you with those rules?).
Now, I’m certainly not going to just take your opinion and just run with it – but, if I want to manage my own diversified aggressive growth portfolio (with ~25 years until retirement), what 1 or 2 suggestions might you have? I’m seriously considering a hedge fund – which one(s) I do not know.
I do have time to manage the account but I’m almost all the way sure that this is not suitable for a (more experienced than average) retail investor with a reasonable, but not exceptional, understanding of tech and fundamental analysis.
I halfway am expecting the first suggestion to be, “that is one dumbass idea… no second suggestion, move along.”
On a related note, the problem is, I think I’ve become a bubble addict and, while I clearly saw the tech rally (I was selling computers in 1993 and I KNEW that shit would change the world). I also clearly saw money moving from equities to RE, I just can’t see where it’s going next – maybe another me-too stock rally? Debt? WTF does the money move when the entire world financial system has been obliterated from the inside? Greed will always grow somewhere.
So AA and MOS in the shitter, but BBBY and RT soar? File that under whatever.
http://finance.yahoo.com/q/cq?s=MOS,AA,RT,BBBY&d=v1
Hahaha. Boca, you can suck a cheetah’s dick. I didn’t engage you in any way until you came at me with your sarcastic “position trading” comment.
Wow. Classy!
I wasn’t being sarcastic, which shows how little you know me, but hey, I’m done. OK? you win, Todd, howz that?
See ya.
Fly Sack,
Your TLT position shows that you’re a novice perpetrator. You like most everyone is a legend in his own mind. I too am a legend “mind of a scientist” and made 7% today. You made a couple million during the tech bubble so what.
How long do you plan to hang on to SRS and FAZ?
pregunta,
I trade options in my TOS IRA account
Fly,
So the commoners should hire Bill Miller or Dick Bove? Any slap nut makes money in a bull market. Some point in the near future I will become an I Bank Coin piker. Your flip flops on where the market is going is Crameresque.
Are you telling me that GM is really going to make this homofied PUMA vehicle? Seriously what the fuck is wrong with you people. I know some of you on this board are looking at it and green pastures filled with cow turds and flowers are coming to your mind. Your sitting there saying “This will stop this magical, some say mythical even, global heating” that is said to be going on. I got news for you, do yourself a favor and get a firm rod permanently shoved up your ass. Your wasting my fucking money as an investor in GM, we all are investors now, on useless homo space junk. Truly one of the most ghey things I have ever see and the creator should be fired. Of course, no offense to true homosexuals.
I have also been informed my my local seegar (sic) shop that I will be paying a shitload more for them. When this man told me this I almost shit out a cigar. Truly egregious and of course homofied.
Then Boca, I sincerely apologize. When I first read it, it came across as sarcastic.
nailed the top eh? What about missing out on the mother of all rallies in March…. nice call there…
buy AAPL at 50 ride to 200 and sell at 100 in a fit of pique…. nice trading stud
I also clearly saw money moving from equities to RE, I just can’t see where it’s going next – maybe another me-too stock rally? Debt? WTF does the money move when the entire world financial system has been obliterated from the inside?
Jeez, that’s a question that almost answers itself.
Wait a moment!
(leans closer)
What??
(leans even closer)
Once again??
(gets down right next to the “W” in “WTF” — presumably the query’s “mouth”)
Why yes, yes! I agree. The answer is silver and gold!
_______
Why is SCO bipolar?
Anonymous: If Fly is so fucking bad why are you paying him money with web traffic? Get the fuck off here you fucking jackoff.
And that goes for the rest of you disrespectful pieces of shit around here. This place is about to incur a makeover, a spring cleaning if you will. You people need to start showing some fucking class, from now on no less than 3 piece suits and a sense of distinguished pride. I understand that 75% of you here have no clue what I just said as you would not know class from ass, but you need to fucking start conducting yourself in a more mature respectful fucking manner or else get the fuck out. Fucking dildos.
markets consolidating nicely on light volume….Jan highs to be hit on the next leg up…. this has happened in Taiwan korea and the NDX so far…. the other NA indicies will be there in due course.
Jake & Devil Dog kudos on your astute reading of the markets may your equity curves grow exponentially.
Boca- “The Todd” will be taken care of. Brooklyn Style
Does anyone have any good tricks when dealing with constipation? No no no, not for me of course, Im inquiring for a friend.
Senor Pregunta….To answer your pregunta you might want to read
The Bull Inside The Bear
new book by Robert Stein….has some interesting answers
This is fairly outrageous: http://www.politico.com/news/stories/0409/21008.html
Does anyone besides me feel like a big fucking over sized Red Wing Work Boot is about to fall?
The market has become calloused to just about everything. All this shit about less worse news is good news and ok news is better news. Everybody is clutching on to any hint of crocuses, mustard seeds, and green chutes….oh wasn’t that an uptick… oh yes it was that most certainly was an uptick.
Oh and BTW Diane Swonk is a financial MILF or GILF….I would definitely let her direct my 401K.
Todd, way to man up. You ok in my book.
Cheers
Breaking news – Fly calls himself an idiot!
Fly own words:
“BTW: Selling a stock has nothing to do with tax purposes. Only idiots think about taxes when selling. For tax reasons, my SRS sale was a loss. However, it was a profit.”
You once said a long time ago that you were holding on to your RIMM becasue of tax reasons. Not only did you make the round trip dick wad but with the above post you called yourself an idiot. For once we agree.
P.S.
This is still the best blog bar none. Good trading fly!
Interwebs people giving The Fly advice:
http://www.youtube.com/watch?v=SX05JZ4FisE
this is hilarious stuff
i wonder how this will affect CRE:
Fed Said to Weigh Charging Higher Rates for Longer TALF Loans
RpD,
Yes, TOS did say they allow “limited” options trading (their description not mine – I’m assuming no positions with unlimited loss potential?) with 401k/IRA account. I have to admit I lost interest after they said they do not allow futures or any short positions (she thought they didn’t even allow inverse ETF’s). I’d just have to become more of an optimist? Sounds all too “happy” to me.
Jake & Anjing Bau,
Similar responses so single reply,
I don’t know that I’m so much looking for the answer as to what the next bubble is – more of an esoteric / philosophical search thing. I’m good at trading quick trends but the restrictions applied to my 2nd account (401k) would strangle me.
Stein (The Bull Inside the Bear):
“this environment, and the impending inflation to follow, will create opportunities in areas such as equities, commodities, fixed-income, and currencies”.
I certainly agree with the premise of this but, here’s the thing, I only trade where I believe I have an edge and, in this market; with complete uncertainty, unreal gov’t fuckery, and random unknown nonsense, I believe that retail investors have the odds stacked against them exponentially more than ever.
The ability to reconcile my future world view with reality is recently challenged on a daily basis. So, to get the edge back; do you shift heavily toward fundamentals, make bets with the government, follow institutions & smart money (what would you have said if I told you 3 years ago that all major banks will be broke in a couple of years), rely on technicals, make concurrent short, medium and long term hedged bets.
Fly does fly off the handle but damn, he’s right – 95% lose money in the market (for that we should be thankful). I’ve been fortunate to be able to understand where I can be successful. With this particular account. I’m doing a bit of soul searching.
Anyway, Fly is a skilled trader so it will be interesting to hear what he has to say. (piss off you bastard, find a hedge fund, get PPT, etc.).
*Just can’t get that bull out of you Fly. Possible, but we are going down hard.
FDIC is borrowing money ahahahahaa
waiting… this pull back was what i thought would happen a couple weeks ago. i have been long FAZ but got tricked into getting in the low 20s.
SRS was at an all time low, but didnt want to cash my FAZ and essentially 1/2 my position.
it may be time for me to get in on the PPT. My timing this time around really stunk