Regarding my deflationary vortex theory: at the moment it is not working. However, that does not mean it won’t work later. Now, I could have dug in my heels and averaged down on SRS/FAZ, instead of selling them, entrenching myself in loser positions. However, I opted to live to fight another day. Then I opted to join the other side and kill some bears, with blade in hand.
When oil was north of $125, I was bullish on oil/gas stocks. Conversely, once oil broke $100 on the downside, I got bearish. I do not use charts; but I respect price action more than anything else. There are real fundamental ramifications that must be recognized, with respects to commodity prices. I, Sir, respect none of them (just kidding dickface. I respect all of them).
However, generally speaking, every quarter or so, I layout my investment thesis, a guideline of sorts— in order to have something to default on whenever the investing waters get murky. At the end of the day, investing, like life, is about not sucking. You don’t need to nail every trade, or even 75% of them, to be successful. As long as you know how to manage risk, via stop losses/ position sizing/ diversification, and can pick stocks like a motherfucker, you will not suck. As a point in fact, you will win, a lot—similar to, but not like “The Fly” (The Fly is always better, no matter what).
Lucky for me, I have a God given ability to identify trends and see the future through the prism of my space aged watching glass.
At any rate, we are entering the 7th week of the rally. I will be looking for signs of a market climax, particularly since I NEVER like to press a bull run more than 7 weeks. The most likely scenario: the small cappers, explode once again, to the upside, vacuuming every fucking lemming North of the equator into this wretched market, just in time for some marvelous guillotine action.
Personally, I will lock in gains this week and scout to initiate shorts in the banks/CRE/oil.
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Fly:
Don’t get caught on a treadmill. This rally seems to have legs which everyone is either fighting or doubting all the way up.
Remember your own comments. Bull markets are hard to trade as their always full of doubting Thomas and the corrections are huge head fakes.
good to hear that my plans converge with yours, my default plan for next week is to be short as well (although I am looking for an entry earlier in the week, because I suspect the breakdown will happen fast, too many naive longs piled in), with some caution/unloading on thursday for initial claims numbers (while unemployment remains high, i suspect any significant downward movement in initial unemployment claims (second-derivative) won’t materialize).
J
You Sir are a liar and a bastard.
However, since you are a PPT sub, you are also a scholar.
What am I lying about?
You characterized bull markets as not easy to trade for various reasons.
The rest of the stuff is my opinion. I think this market has a long ways to go : far more than what people think.
rigs are idling big time.bad 4 drillers and oil services.
I spoke to a guy at work about a week ago, he told me “Im scared of missing the bounce”… I sold my longs shortly after.
J
Would like 2 buy some lava land?
This rally will last 10 more weeks.
it will stop at DOW 10,000
I want to short also, but the day I do, the DOW will on that same day shoot up 400 points.
I’m staying long with stops and if they hit, they hit.
Crude oil:
Go get yourself refined.
sunday night ramblings..
deflation excerpt from a morg stanley report friday.. kinda obvious, but kinda interesting..
Our US economics team expects that nominal GDP will continue to shrink through much of this year, with the four-quarter decline the sharpest since 1949. This is important fuel for a deflation scare. Rather than worry about deflation, many investors are concerned about inflation. The reason is the surge in money supply in many developed economies. As I see it, while money growth may be necessary, it’s not sufficient to generate inflation. That’s particularly true when much of the money expansion is in the form of excess bank reserves – which, by
definition, are not being put to work….Have policy makers
already done enough so that investors should begin to position for higher inflation? My answer is ‘no’. The prospect of outright declines in prices, as well as shrinking nominal incomes, suggests that the bigger risk for the foreseeable future is a deflation scare, not an inflation scare. It may be that the policy response to the deflation scare sows the seeds of inflation, but
for now inflation seems a distant threat.
I really think there is a good chance that we will see a large percentage gain day, on huge volume, very soon. I think it will mark the top of this run.
For you longs:
This is a nice little interactive unemployment map….as we keep breaking through new levels of near-record job losses in the U.S.:
http://www.slate.com/id/2216238/
Yeah, yeah, I know….it’s good for corporations to continue laying people off, so that their profits increase.
In the #1 consumer driven economy in the world, that is.
Now, go buy a Ford or a Chevy.
We need a scene with Scarface as the bank exec that doesn’t need our worthless cash anymore. “You can have it, we just lent mucho trillions to ourselves with congressional approval and against your good name. You want to save your worthless money with us? Heres a 2% savings rate on a 5 yr CD (Ha ha ha ha ha). Get the fuck out of here and crawl back to your trailer park before I call security.”
Right. The market will go up forever. After all, the economy is on fire.
Some of you people are queers.
@Woodshedder: I think you may be on to something in thinking that… This market is a true flamer, however, so as long as we have “fantastic bank earnings” to prop up this lifeless schmuck, I don’t think we’ll see any enormous volume movements.
Twitter is for homos.
There i said it.
You’re right Fly. Twatter is for straight men.
Why the fuck are you arguing with the longs. You’re long yourself!!!! Is this a parallel universe? We have a long Fly and a short Fly in some other world. What’s the color of the sky there?
Damon:
that’s right… the US economy has NEVER experienced unemployment and a market that heads higher. This simply can’t happen in this universe. It only happens in the parallel world you and fly inhabit.
As I see it, while money growth may be necessary, it’s not sufficient to generate inflation. That’s particularly true when much of the money expansion is in the form of excess bank reserves – which, by
definition, are not being put to work….Have policy makers
already done enough so that investors should begin to position for higher inflation? My answer is ‘no’. The prospect of outright declines in prices, as well as shrinking nominal incomes, suggests that the bigger risk for the foreseeable future is a deflation scare, not an inflation scare. It may be that the policy response to the deflation scare sows the seeds of inflation, but
for now inflation seems a distant threat.
The fucking idiot who wrote that should turn in his economics degree or if he doesn’t have one he ought to be arrested for pretending he’s one.
Inflation doesn’t give a fuck about the number of people that have a job. It fucks people that don’t have a job as it pushes up prices against those on a relatively inflexible income (or in this case the dole).
Inflation is too much money against too little goods. It’s a monetary problem and when i went to uni bank reserves were always part of the money supply. However if this genius has found another way to calculate the money supply let’s hear it and perhaps even nominate him for the Nobel prize. Most likely it will be the Nobel peace prize as idiots like Gore win the Peace prize rather than the economics one.
j: no, you’re wrong.
P * Q = M * V
Look it up in your fucking ECON101 textbook. Velocity (V) is dropping like a rock, hence, deflation for now. When velocity picks back up to normal levels, then we may see massive inflation if we are unable to reduce the money supply at a comparably fast rate, but that’s predicated on a economic rebound. Just what the person you were replying to said.
If this markat does run up to dow 10k, its not climbing a wall of worry. Its scaling a castle of despair.
CHARTS ARE PRICE ACTION.
Herd
that’s well and good and yea I know about velocity. You need to explain though how bank reserves are counted as part of the money supply.
Do you also think velocity will never accelerate?
I actually agree with Woodshedder, which effectively contradicts my current investing thesis.
While I believe I (as well as many others) will be right that thing falls apart, I was looking at it over the weekend and I started thinking…if we can “overshoot” up and then overshoot down, why can’t we overshoot this bear rally also?! Why can’t we see 950/1000 on the S&P, especially if everybody who has been sitting jumps in at once (and also marks a huge top at the same time).
I allocated 10% towards SRS near the lows on Friday with the intent to add to the position, however based on my overshoot theory, I am going to sit back and see how far it goes. If we get a massive up day on strong volume, that’s when I will buy again…probably another 15%. I will look to find another home for 25% (maybe IBM gets fucked without Sun…or they overpay, which might be worse; FCX until it’s back to $30, GS-so hard to short, but it will have to come down; maybe even GOOG for a quickie).
The other 50% is staying tucked in the mattress, as I think this market is too bouncy to allocate 100%.
a bit of hair loss over the weekend is paying off…
One other thing, herd.
How the fuck do you quantify velocity in the economy when there is no such thing as a one price in the economy “P”. P in the mathematical formula assumes a constant fucking rate of expansion or contraction when that simply doesn’t occur.
So if it isn’t constant that formula is about as useful as Dog telling us that gold is going to go down the day it posts 100 buck rise.
http://zerohedge.blogspot.com/2009/04/stress-test-results-leaked.html
Doh! 😮
That sounded like it was written by Kenny Powers himself.
juice
It’s a fucking scam.
Those FAKE results are the opinion of a guy SLAPPED BY THE FDIC!
In June 2006 the Securities and Exchange Commission instituted cease-and-desist proceedings against Weiss Research Inc., Martin Weiss and Lawrence Edelson. The proceeding stated “13. Weiss Research, in promotional materials prepared by Martin Weiss, Edelson, and others,
sometimes used selective, outdated, and/or hypothetical examples ofspecific returns that subscribers might have realized on individualtrades had they followed Weiss Research’s recommendations, withoutadvising that the overall return was or might not be profitable” andthat “14. The overall performance of Weiss Research’s premium services
did not support these profit claims. In fact, during the relevant time period, many subscribers who followed each Weiss Research trading recommendation – as Weiss Research encouraged its subscribers to do –experienced overall returns that were substantially lower than Weiss Research’s profit examples and most actually lost money.” [5]
In his [6] open letter dated July 26, 2006, Martin D. Weiss disclosed the issues and background of his settlement with the SEC
Weiss is a nutball.
J:
Price in that formula is a price level, not a single price, nor is it a constant.
If a Banks has excess reserves they become part of the money supply when the are lent out.
Juice wants to believe
Velocity is verily easily quantifiable, it’s simply GDP/Money supply
There’s no such fucking thing as a ‘ price level’ in the economy, which is why velocity can’t be calculated by simple formula. In fact velocity is tautological and can be very deceiving in terms of understanding the innards of inflation.
This is the fucking problem with central banking. They using baseless shit for the most part to formulate policy. In the earlier part of the decade they were suggesting that CPI was well behaved yet the underlying inflation current was off like a rocket evidenced through inflated hard asset prices.
This formula is pure Keynesian swill.
No, bank reserves are part of the money supply which is why broad money etc. has been skyrocketing.
If you argue that bak reserves are not part of the money supply you ought not be arguing at all as you know sfa.
You truly are a fucking idiot.
No such thing as a price level? I am not even going to bother to explain that one to you dummy.
Only excess reserves are part of the money supply you fucking moron.
Seriously, where did you get your degree in Economics> University of Phoenix?
GDP is netted figure. It doesn’t take into account Gross domestic revenue which is the real size of the economy. So velocity may be defined as GDP/money supply, however it is pretty meaningless.
Ok fuckwit define the price level. Tell me what the fucking price level is the the US economy at this very point in time.
Excess reserves are what we’re fucking talking about dickhead. The banking system is is swimming in them.
Price in that formula is a price level, not a single price, nor is it a constant.
that’s exactly the point I’m making. it can’t be measured in any real way and any attempt to even pretend to suggest you can is bullshit.
Ever hear of the CPI or PCE?
Ever hear that the CPI is terms of measuring inflation is about as useful as a spare dick at a wedding?
I already explained to you earlier that a well behaved CPI in the earlier part of the decade almost sent us over the fucking edge ( and the jury is still out) as the CPI was ignoring the fact that inflation was going into asset prices.
Inflation is a money supply problem and always has been.
“j” said that BAC earnings would propel the mkt. higher and crush DevilDawg in FAZ.
banker Says:
hey DD, i do not agree with you. I think BAC reports good numbers and banks are exploding higher. Remember all you were laughing when Lewis bought BAC at 4.40 and Damon boutgh JPM at 22.90. Well, you are the morons, not them.
April 19th, 2009 at 12:18 am Vote: Add rating 3 Subtract rating 2
How’s it going banker? DEVILDOG WINS AGAIN!!!
BTW, just ignore j. He is a fucking idiot.
BTW I’m banking 6 figure gains on my 77k shares of FAZ.
Hey Fly, I created a watchlist on your long buys from Friday and labeled it “AAA Fly Shit Buys”. Should be interesting to see how much you’re losing. How’s that new career going?
Let us not forget DD’s warnings:
DEVILDOG Says:
Kinda stupid to be buying at the top guys.
Who was it a month ago that said the rally would end at S&P 874? Who posted it several times? DEVILDOG!!!
873.58. Sold all my longs and bought another 40K shares of FAZ at 8.67. I’m 300% SHORT.
Have a great weekend!!!
April 17th, 2009 at 2:09 pm 1 0
DEVILDOG Says:
j and Jake, sold my DZZ for hefty profits today and used the proceeds for my FAZ buy today. Thanks for being great contra indicators. GOLD DOWN!! Odd no?
April 17th, 2009 at 2:27 pm 0 0
DEVILDOG Says:
S&P 875.48 HIGH. My call a month ago @ 874. Off by 1.48. Margin of error = .0016933. I can live with that. Beat the FLY bad since the bottom. Fly buying here is going to burnt again. Fly, how’s that new career coming? You’re gonna need it.
Beat the crap out of j and Jake on my gold call too.
April 17th, 2009 at 2:57 pm 0 1
DEVILDOG Says:
PRICERUNNER Says:
FXP and SMN keep an eye for next week. Smart money ratio at this point 67% bear Dumb money buing the most all year this week!
April 17th, 2009 at 3:10 pm Vote: Add rating 0 Subtract rating 0
Boy are you gonna get taught a hard lesson next week.
Yeah…the BEARS have been totally stupid from S&P 1576 DOWN to 666. Dumb as dirt BEARS. It’s too easy making money off you charging bulls in a BEAR market. I rode your stupid cow herd rally all the way from 666 to 875 and I’m a stupid BEAR with a final target of S&P 150 in the next few years. Starting Monday 4/20 you’re going to be one of the stupid fucking cows stampeding for the exit. Too funny!
MOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!
April 17th, 2009 at 4:26 pm 1 0
PRICERUNNER…HOW YOU DOIN’??????????????
DEVILDOG Says:
BTW, for all you Fly following retards that don’t have a mind of your own and make the same trades as Fly, and are commenting above how this rally will go higher because everyone thinks it will not, I suggest you take a look at the VIX if you know what it is. Fear and wall climbing are obviously rampant. Too stupid you are.
April 17th, 2009 at 4:33 pm 0 1
GAPPINGANDYAPPING….YOUR WELCOME! Nice to see someone with brains bank some BIG coin!!!
gappingandyapping Says:
Fly thanks for AMKR sold out for a 20%er too at 4.15.
DEVILDOG I decided to go with you on FAZ and bought at 8.75. Now should FAZ tank from here I will bash the fuck out of you for as long as this blog exists. It will be hell. However should you be right I will elevate you to Average Joe status from homofied idiot. Let’s let the numbers decide and hope for the latter!
Good call on gold by the way, I will give you that.
April 17th, 2009 at 4:34 pm Vote: Add rating 4 Subtract rating 0
Flyspeck,
How’s that flip-flop coming along—sale of SRS and FAZ near/at the bottom, going long with crap and the tanking of the market today?
BTW, just ignore j. He is a fucking idiot.
Devildog…. if we had a fucking law against liars on blogs you would be on death row.
Listen fuckwit, you mentioned how you bought FAZ at 14.07 the other day. You recall the day, or perhaps you don’t because lying shitbaga don’t remember all their lies. However I do.
The thing is sucking wind and you’re down 30% today and were down 40% on the trade at the close of last Friday.
So please stop lying.
to DD:
good calls DD! Deep inside I never doubted you 🙂
Just make sure you sell those FAZ’s at profit before it disappears.
is there such a web site as “short the fly”? like short the cramer? i think going opposire fly every time he surendered his prev view was a good trade in 2009
Devildog and Fly are winning even when then are losing. Odd no?
DevilDawg has almost erased the agony of defeat in FAZ – he is close to even.
j: getting all Rant-y McCrazy about inflation and denouncing academic research and proof regarding theories that are akin to gravity in the field of economics makes you sound like a complete loon living in Montana with a stash of GOLD!!!!!111eleventeen. The fact that you don’t understand the relationship Velocity of Money has with prices and doesn’t support your crazy goldbug theories, makes arguing with you really irritating, so I’ll leave it at that.
Fridays and Mondays are trash days for the market. FXP has FLY balls hanging all over it! Or should I say under it.
The S&P upward trendline of the last couple of weeks broke earlier today. Lets see if the close is below the trendline.
I think we need to keep a scorecard for Devil Dubious, since his “mark to fantasy” position announcement are beginning to wear on my nerves.
Your FAZ crowing is especially hilarious, btw. “Six figure gains?” Lofl.
Devil Dubious reminds of that old saw asking “how do you make a small fortune?”
A: Start with a big one.
_______
J
“Inflation is a money supply problem and always has been.”
Wrong,
Money supply is only half the story, the other part is supply of credit and credit is contracting like never before.
By the way the last time money supply increased as seen today was in the great depression.
To explain inflation simply by pointing to an increase of money supply is silly.
I’m not ranting, you mudkips, you are. I’m coolly explaining to you why I think the cpi is not a good indicator of the price level in the econo0my. You can rant all you like about academic reviews that it is a good indicator, however when it leaves out things like the price of hard assets, CPI is next to useless. I also explained to you that the CB’s have taken us over a cliff with CPI targeting (or neo CPI targeting).
I’m no a gold bug by the way, in fact I’ve mentioned a few times how I hate gold as an inflation hedge. So take you Monatana analogy and shove it.
Money supply is growing at an enormous clip. At some stage that will begin to bight.
James:
Define inflation. In fact define money. If you think credit is money you’re simply wrong. No if’s no but’s just plain wrong.
DD, did you sell FAZ this morning? Looks like it is rolling over. I would hate to see your gains disappear 🙂
J, et all…please STFU. I have had enough of the economic bullshit arguments for an entire friggin year.
Jesse,
You are dilusional and brain washed.. Monetary Inflation is what it is. Just because the money is being hoarded does not mean it will not be eventually circulated and affect prices to an equal degree. You will be shocked as to the degree you are wrong.
j lives in the outback. My last visit there was a harrowing experience. Those aborigines believed that I had magical powers because I climbed up Ayres Rock.
about the gold, fine, sorry I misunderstood.
anyway, lol “If you think credit is money you’re simply wrong.” EPIC FAIL. credit is money, because money is credit. it may sound like a tautology, but it’s really not. money is a claim on others (credit). In the case of US Dollars, it is a ~30% equity claim on of all corporations and individuals (also known as “taxes”). yes, crazy Aunt Millie with your cats, the government has a 30% preferred stock in all corporations and that’s what’s “backing” the value of the dollar.
so i herd you liek mudkips Says:
j: getting all Rant-y McCrazy about inflation and denouncing academic research and proof regarding theories that are akin to gravity in the field of economics makes you sound like a complete loon living in Montana with a stash of GOLD!!!!!111eleventeen. The fact that you don’t understand the relationship Velocity of Money has with prices and doesn’t support your crazy goldbug theories, makes arguing with you really irritating, so I’ll leave it at that.
April 20th, 2009 at 10:20 am Vote: Add rating 0 Subtract rating 0
Couldn’t have said it better myself. I’m looking for gold(sold my DZZ Friday…BIG profits) as a fear trade to go back up to $924 on this stock market declin to S&P 748 – 780. then it will drop to $650. There will be no inflation due to the fact that the worthless money supply being printed by the corrupt fed is going into the black hole created by the shadow banking system run by the shadow elite. That benny money supply will never see the light of day again as it enters that black hole and never makes it into the economy. The additional money he prints will go in the same hole. There will be NO inflation. We are headed for the WORST GLOBAL DEPRESSION over the next several years to decades that will result in at minimum an S&P at 150 and the socioeconomic landscape of America and the world changed forever. Hopefully, for the good by killing the <1% elite and all that enabled and protected them.
Devilddog.
This is what you said on April 9th.
DEVILDOG Says:
Bought 11000 FAZ @ 14.07.
April 9th, 2009 at 9:42 am
http://www.ibankcoin.com/flyblog/index.php/2009/04/08/the-gift-that-keeps-giving/
Now unless I’m mistaken you’re down money fucker and you were down 50% last week, so stop the fucking lying.
You can run but you can’t hide dog.
And ” how’s that position working for ya”.
egg nog.
banker, I’m not selling my FAZ until my target is hit which is several dollars higher. BTW, it’s not rolling over. I’ll be holding for max profits for 2 to 3 weeks. I’m working on the next market swing turn sometime in May. I’ll have it pinned down after seeing the action through this Thursday.
DevilDawg, what is exactly the role of GS in this monumental fiasco?
Muki:
You have the Dog on your side talking about the corrupt fed. You really want to attract that sort idiot brain on your side of the argument?
Sorry, but credit isn’t money. Never has been and never will be.
it’s not about who’s on your side, it’s about who’s right.
J,
money is just a media of exchange to facilitate credit transactions of present goods for future goods.
Sierra,
talk to about inflation in a couple of years. Ever heard of Japan´s lost decade? Actually they were fortunate enough to have savings.
You guys still don´t unterstand how much value has been destroyed and still is being destroyed by this crisis.
It easily offsets any printing by the fed.
How are we looking at those longs Fly AUL and ODP ? Any insight would be interesting. I thought they had very little debt and good cash supply ?
J,
Agree 100%!! “credit isn’t money”
I also nominate DD for a tab on IBC
J,
money is just a media of exchange to facilitate credit transactions of present goods for future goods.
What a horrible definition.
Here’s a better one.
Money is the commodity in most demand.
(it’s silly discussing credit in a definition of money)
Sierra,
talk to about inflation in a couple of years. Ever heard of Japan´s lost decade? Actually they were fortunate enough to have savings.
Japan had a lost decade because their money supply kept falling and they only started QE in 2001 and even then it was a small sum.
It was a lost decade because they fucked up through bad policy and the failure to recognize what the fuck was happening.
You guys still don´t understand how much value has been destroyed and still is being destroyed by this crisis.
I do, which is the reason why the Fed is out there printing money like crazy.
It easily offsets any printing by the fed.
It has nothing to do with inflation that’s coming.
J…I’m sorry that you are an idiot. Some people are just born that way. I’m also sorry that due to your retarded economic positions that you are losing money and will eventually not have any left. However, I’m making money today including my first FAZ buy at 14.07. I have since bought at 13, 10, 9 and 40K SHARES AT $8.67. I will make 7 figures in profits on this SWING trade. I’ve said many times that I don’t day trade. I generally nail the BIG SWINGS within a few dollars and a couple of days. While you were buying last week at the start of “NEW BULL MARKET” I was accumulating a giant 300% SHORT position against our totally bullshit financial sector. You really are the stupidest person on the planet to believe we are starting a NEW BULL MARKET. Just shoot yourslf now and avoid your misery. I’ve tried to educate you, however, you’re too stupid to listen. I’ll no longer waste any time in responding to you. I’m now busy figuring out the ending date of this DOWN SWING in the next month and the start of the next HIGHER UP SWING which will be the last one. We will then make our multi year trip to DEPRESSION, WORLD TURMOIL, MASSIVE SOCIOECONOMIC AND POLITICAL CHANGE AND S&P 150. For now I’m off to start counting the first SWING day of my accumulating 7 figure gains.
DEVILDOG: Thanks FAZ is ripping and protecting my long exposure.
Dog
The only purchase you time-stamped was the one at $14.07. Knowing you and your ego you would’ve reported each one of those purchases, so sorry, I’m calling you out as a dishonest chump.
———-
Jake
Good call on gold last Friday.
Can I Quote myself from the “winners” blog from the final 4 contest….
Goldie Says:
Thanks RC for the shout out!! I would like to point out STP was my second pick. My first pick was (drum roll please) Long FAS. Unfortunately it was not allowed because it was below $5. It was trading around $2.50 at the time. FAS would have got you a cool 200%+ return. Now that is godly fucking stock picking.
P.S. As of Thursday’s close I am now long FAZ and heavy long SDS… Odd no?
April 17th, 2009 at 10:11 pm Vote: 0 0
I don’t post a lot here because I got a 9 to 5 but you betta recognize game biatches.
Steve, go wake up fly. He forgot today is Monday.
I don’t post 500 times a day here because I got a 9 to 5 but you betta recognize game biatches.
Word!
________
I’m sitting here watching my portflio balance increase by 8% today and this grown ass man sitting next to me is playing fucking video games on his lunch break. I am I a hater? No, he is a fucking loser!!
It’s obvious to all, but worth saying:
DEVILDOG IS GOD.
The turnaround battering investors who use mathematical models to pick stocks is making heroes out of last year’s worst-performing money managers. Bill Miller, who lost 55 percent in 2008 running the Legg Mason Value Trust after beating the Standard & Poor’s 500 Index for a record 15 straight years, is topping the measure again. Value investors buy companies that are the cheapest relative to their earnings or assets
CRE is holding up today.
gappingandyapping Says:
DEVILDOG: Thanks FAZ is ripping and protecting my long exposure.
April 20th, 2009 at 11:12 am Vote: Add rating 0 Subtract rating 0
gapping, you’re welcome buddy. Gald you’re on the ride. FAZ will hit $18 minimum. Maybe $35. Since it is leveraged 3X and gets a higher base number at each move higher it is difficult to predict beyond a day where it rises to. I refigure on a daily basis as to where the ultimate multi day SWING TARGET will end. As I said $18 minimum.
I went to check on Fly a short time ago. I asked him where his posts are and he tells me that Mrs. Fly is now forcing him to strip the wallpaper in the kitchen.
The slavery continues, I guess.
by the way jake… congrats.
Dog
Why stop at 18, 35 even. How about a 2300 FAZ.
j, does this time stamp count? BTW, it is reposed above in addition to the original post on Friday. Additionally, I posted a time stamped buy at $13 last week too. You go find it. As far as this one…are you having trouble reading through your loser tears or are they tears of a fucking stupid clown. Fuck off and go count your “NEW BULL MARKET” losses…stupid asshole.
DEVILDOG Says:
Kinda stupid to be buying at the top guys.
Who was it a month ago that said the rally would end at S&P 874? Who posted it several times? DEVILDOG!!!
873.58. Sold all my longs and bought another 40K shares of FAZ at 8.67. I’m 300% SHORT.
Have a great weekend!!!
April 17th, 2009 at 2:09 pm 1 0
Craaap, I wasn’t ready again, shit. With all the bragging DevilDog has been spouting you’d think POG had hit his $599 target, or even the revised 840 call. And I keep missing my chance to get in on those huge drops before it shoots back up to $886, shit.
Odd that though the market must be swimming in surplus bullion to drive the price down that much (whenever that supposedly happened in DD’s world) you can’t find decent amounts for delivery to save your life…
Oh, and DD wasn’t the only one to call this drop in the broad market today like he’d have you believe, Fly called it too, as did many others. In fact, I would say today’s fall was a general consensus, minus the more obvious pumpers.
Said before by me: DD’s calls are like the weather, most of the time they change when it becomes obvious to all which way the wind is blowing. Now if he could just figure out a way to alter his prior posts, he could see himself as correct not just 100% of the time, but 110%!
Looks like we have at least some temporary SPY support here at the 50% short term fib retrace from the 11/4/08 peak to the recent March 6th bottom (67.10 on the SPY), which is approximately 84.05 on the SPY.
I would not rule out a retrace to the 38.2% fib, or 80.06, in the near term — even if this is only a pull back, and there is a gap to fill at $82.71.
________
Fly is clearly licking his wounds and trying to come up with something to say about the recent buys.
I don’t need to “come up with anything.” I was busy, dickface.