For months I was in the deflation camp, telling all of you that money supply would vanish into thin air, taking the prices of everything into a mesmerizing, yet deadly, vortex. As a matter of fact, I declared, “Death to Oil” and “Death to Texas-Tea Baggers” on a number of occasions.
For the sake of reserving the right to claim such said victories at a later date, I will not recant such said prophecies. Instead, I will just play along, like an ignoramus, drinking the different flavours [sic] of tea, while making believe I am in some sort of cult-like inflation militia, whose job is to render the U.S. dollar worthless—indeud.
Many of you are scared of the rally, thinking it is ready to slap-chop your cocks off. Howsoever, I will tell you, old man, you have nothing to fear, for the Chinese are restocking their oil inventories, in order to attack America, via a large Pacific fleet, at a much later date.
My droll-like point:
Oil/gas stocks will trade higher. The market is following the whims of oil, no doubt. If you had a look lately, oil is about to bust through $60, on its merry way to $75—just in time for the summer driving season. I yearn for the days of $5.00 gas.
Back to my point, here is a list of under the radar names, courtesy of The PPT (all praise and encomium go to the developers of such an alien tool), for your perusal, which by way of market forces, may be worth your investment dollars.
SII. EXH, WG, WNR, MCF, ME, GHM, SD and of course FTK.
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Fly,
I’m surprised you’ve been deploying so much capital in penny stocks. As I’m sure you know and for someone who manages large sums of money, it’s the last place you would want to put your clients money in almost any situation.
Anyway, if you’re making money in them fine.
35% CASH.
Sir, do you believe that oil services names (those that do not produce petroleum themselves) will also benefit from this rising tide?
I just saw the list at the bottom. Sorry for my hasty question, it seems that you do.
Oh look! U.S. government tax receipts down only 34% year over year in April – http://tr.im/kYoV
boomer
yes
on with the oil party, i say.
Fly- Still like NOV on an oil reflation?
Any more robot-like buying for RIG? or are those “so last summer”?
This guy wants to differ:
http://europe.theoildrum.com/node/5384
Patron … silver. Sky is clear here in The OC. Fuck’n love it!
8)
Fly:
Do you have a price objective on CUZ.
buy OIH (Oil Service Holders) to get diversified ballin’ shit like RIG and SLB etc.. it trades at 100 ready to roll
The SPR is full.
J
12
Dave
SPR is a lagging indicator.
Fly
Summer driving season? Who is going to be driving and where are they going to drive. Maybe a drive to the closest job fair in their old chevy that they still have not paid for.
And China is ” restocking inventories”
I don’t know about restocking, maybe just filling up their current inventories to capacity which will come soon. Have they really consumed that much??
There may be an illusion here that demand has really picked up. We know that consumption is down in the US, the biggest consumer of oil by far.
Yes, maybe the the stock market market has improved but the demand for oil has not picked up as much as some think. Well not enough for the abundance of supply.
I think Demand stays soft. I am short oil via DUG And will stay that way until I start seeing better trade and export numbers from Asia, and those won’t pick up until the US consumer feels comfotable spending money on needless shit from China. Shit, Shit, and more shit from the hell hole they call China. And if Joe Six pack aint got no job, then his dumb ass wife won’t have any money to go to Walmart.
Fuck China
Fuck this rally
The buyers are getting exaushted
No, Fuck you T-Moe.
FDIC preparing for large bank failure?
http://pragcap.com/fdic-planning-for-huge-bank-failure
Wood
That’s a panic blog. Ignore it.
Duly noted sir.
Damn folks. The inquiries here are starting to make me question the mental horsepower sitting atop most of your Yugo-quality deltoids: “FLY, will it rain tomorrow?” / “FLY, where will the next asteroid hit?” / “FLY, do you think XYZ will hit $13.46 tomorrow? How about 13.47? I could really use that extra copper piece.”
Who do you peons think this guy is, Negrodamus?
Half these questions are so ridiculous they don’t even deserve an acknowledgment; the other half display such a dependency on another’s cranial activity I cast high doubt on whether you amoebas will ever exist outside a Petri dish.
It’s cool to learn from another. However, no man should ever hold your dick.
BEHOLD YOUR REFLECTION:
http://www.youtube.com/watch?v=Vfzqzo31zag
(hint: FLY is right frame)
Schismatic, AKA: The ANGLER, is gonna go get a nightcapper now while ya’ll marinate on that.
“Just because you don’t see the angles, does’t mean they don’t exist.”
“Many of you are scared of the rally, thinking it is ready to slap-chop your cocks off.”
lol
Shed:
What the hell are you doing?. You scared the living shit outta me.
Thanks fly for bring the portly kid back to earth.
@ fly, that dude writing pragcap called the March 8 bottom. panic?
Mom:
lot’s of people called the bottom. Big deal.
Zero Hedge is a panic blog. Denninger is a panic blog. If I recall correctly Fly was all cash and panicked until the rally had run up 20%. Big deal?
Would the failure of a massive institution surprise anyone?
We know the stress tests are bogus.
The Fly is kind of like the Andrew Zimmern of stocks.
While you must develop a taste for some of the more exotic picks…
..you might just be very pleasantly surprised.
Mom:
What exactly is the point with your last comment. So Fly or others got the exact bottom wrong. Welcome to humanity.
Fly, what if your wrong about this too. Will you post at a later date, “I recant my earlier recant about the recant that I recant about oil and USD” ?
You have been wrong on numerous occasions. I’ve noticed you’ve turned bullish like cramer.
What if you’re wong again?
I suspect that if he is “Wong” (sic) again, he will simply make Kung Po Chicken, again.
___
Chinas heavy commodities purchases have driven up base metals and to an extent coal. They have worthless US dollars that they intelligently exchange for commodities that are bargain priced. That is what any intelligent holder of fiat money would do..Our government would never, ever be that clever..we are gonna be in that funnel..it will just take a bit longer
What the fuck is all this “you’re sometimes wrong fly” all about.
Every trader knows they are often wrong, Wong.
I can’t put my finger on it, but something about j is very annoying. I’m glad he resides on that desolate penal colony at the end of the earth.
Good post Schismatic.
You have an entertaining blog Fly …it would be made even better if you had fewer genuflecting posters an if certain of your bloggers were more comfortable with their own voices – – instead of lamely attempting to mimic your trash talk.
MOM
What exactly is the point with your last comment. So Fly or others got the exact bottom wrong. Welcome to humanity.
May 13th, 2009 at 2:40 am +2 -4
Who the fuck voted negatively to that comment i made as I wanna know? Get out of the gay closet and confess you 4 useless queers. What the fuck is wrong with that comment you dipsticks?
That’s it. Everyone on this thread scored a negative vote from me just so I may be catching the idiots who voted negative to that perfectly reasonable comment.
I love you fly. You pay for my college tuition. You are glorious
Can’t you wait a little longer Mosquito?
Obama says he will pay your tuition.
J,
You got the negative votes because the point MOM made was obvious. If you did not get the point, it means you probably got kicked in the head by a kangaroo. And if you got kicked in the head by a kangaroo…you were probably bothering the kangaroo…this is why you got the negative votes. Stop bothering kangaroos.
Sully
wilmer….whats so difficult? j is a First Class Grade A Premium Prick. However, dude is a serious coin banker and is pretty funny over time.
Oil inventories today shitbirds. Oil stocks could very well go down. Beware you have been warned .
Old Maw called the retail sales as she was visiting the mall last week and saw through her spectacles there were just a few people there, and not a soul shopping. Hat tip to the old lady….
Futures looking weak..FAZ and SRS are about to ride into town and piss on the penny piker folks…the stress tests will be revealed to be a joke…
Let’s see median wage 25k and falling, commodities and food rising due to Turbo and company… hmmm… wonder how that’s going to work out?
Old Maw called the retail sales as she was visiting the mall last week and saw through her spectacles there were just a few people there, and not a soul shopping.
Maybe quite a few “Old Paws” shorted the market 35% ago?
_________
Zero Hedge is a panic blog. Denninger is a panic blog. If I recall correctly Fly was all cash and panicked until the rally had run up 20%. Big deal?
So it was you sully? You’re one of the gays.
there a big freaking difference. Those two fuckers aren’t just panic blogs, they’re simply doomsdayists. Everything they look at, they think spells the end of the world.
Fly isn’t exactly like that is he.
The point of Mom’s comment was obviously stupid, which is why i asked the rhetorical question.
So STFU
——-
On different note, Aussie Euro Yen and Doll yen are getting the shit kicked out of them. This may be an ominous marker for the stock market today.
$75/bbl? Sold to you. I’ve got 500 bbls sitting in storage right now. Where do you want it?
Green Shoots..my least favorite phrase for 2009 just got fucked in the ass…
I do believe the bull market for bullsh*t stocks just dried up…
The usual suspects (FXP, SRS, etc) look pretty good to me.
Red shoots baby!! All the young guitar heroes are waking and baking in the red
Yes, futures look weak but looking for the usual suspects for a daytrade or two early.
If INTC stays + and AMAT stabilizes an SMH long after a few minutes of the open could be a good bet.
Also MSFT may break 20.00 early and the Q’s would be okay for a trade.
Spitzer in and outs only. Snooze and lose.
Doll yen could be close to a buy on my chart. I use ma envelope
25 hours with 1.5% band from the mid that works like a dream.
If it heads down to 95.40ish in a puke over the next 5 hours or so it’s worth buying with a stop just below 95 even.
——
Cash, I must apologize. I scored you a positive vote by mistake and you need to count that as a negative . Everyone gets negative vote on this thread today.
How can anyone trust Tim Geithner? We all know he played the dentist on Rudolph The Red Nosed Reindeer. It’s hard to take him seriously in any other role.
Yes and Larry Summers is like Youkon Cornelius and Obama is the King of Misfit Toys.
We could be setting up for a massive snap back rally today. I don’t think people realize how bad retail sales were, if they did they would be bidding the market up like mad. Isn’t that how it works now?
Nice retail sales numbers
Nice numbers from Macy’s
Ha Ha Ha
j – BTW, some commenters here do deserve positive karma. I don’t quite understand the “swat The Fly” comments, myself. Regardless of where the market closes today, I don’t see how anyone could be surprised by a pullback after such a run, and why it’s such a BFD.
Yes, in the interest of full disclosure, I’m still long, no hedges, patiently waiting for the correction to end before moving higher.
The Fly Says:
Wood
That’s a panic blog. Ignore it.
————————–
wow, turns out fly reads other blogs – mu-ha-ha-ha
fly, time for “f*ck you bulls, you are dead” banner
Overall short-term market trend (daily chart) is becoming bearish according to the McClellan Summation Index. This rally may extend another three weeks after a pause — as it did in 2003 — or go sideways a bit before heading down into a buying dip.
Death to Oil
POT breaking the fuck out. They had been walking it up on pathetic volume since earnings until yesterday, then yesterday was a huge volume day.
They’re lifting offers like crazy so far again today on big volume.
Jake:
Mon appears as strong as a ox.
sold longs, went short. looks to me like the run is over. if the bears can pull off a -300 day on the dow, bulls will give up (this rally has all the bulls hovering over the sell button)
Adding to SMH.
well, if all here are already talking doom again from 2 days of tiny negative market closes, you might as well bring back out the talk of bullets, guns and bomb shelters, don’t forget the MRE’s.
on other news,
Gas, most likely going to be around 2.50 to 3.00 gal. for june and july. I’m ready, in fact I have already planned to get all my fun out of the way now while gas is cheap. I will be driving to Florida May 23 in a big gas guzzling SUV with 3 Harley’s on a trailer, once there I will be doing some riding and filling the boat up and cruising the intercoastal waterway for 7 days. (These boats drink gas you know)
This I refrained doing when gas was 4.00 a gal. I just fished from the beach.
Just thinking ahead and getting some fun in while the getting is good.
Adding to my long term TIP holding that I bought months ago at 97.05. Inflation is coming, it may be a ways away but it is coming
TheArtist….you are one thrifty SOB.
Surely there is going to be a panic on the horizon. Lets get back to Shoes Falling instead of Shoots growing.
I love this shit…..lies and fuckery at it’s best.
MGM, for weeks have bragged all is well and going gang busters with casinos and people are back and all is just peachy.
The very 2nd day of a drop in share price they now announce that they are having to raise 2 billion and doing it with a dilutive common stock offering….shares now down 15% in first 30 minutes of trading…..
Can’t wait for the entire markets past 8 weeks of lies and manipulative fuckery to all come out in the wash. We’ll see how the world handles the truth this time around.
O, and Fly is right, China, as most here already know, is building a massive Navy, They have around 8 nuclear submarines being built as we speak, and have been building destroyers and cruisers and the like for years and mind you me, our government is concerned.
carry on, I’ve got fun shit to do, enjoy.
Fly that is 25% off of RFMD in only 2 days. Are you worried about it? I don’t have a position yet.
So the question is, when it all crashes down months or years from now, how will Bill Miller end it? slipping off his highrise balcony, cleaning his gun, accidentally taking 2 bottles of sleeping pills or taking a position with the Fed.
Miller, who beat the Standard & Poor’s 500 Index for a record 15 straight years before stumbling in 2006, says financial companies are his favorite investment for the rest of the decade
Miller, lost more money in the past three years than 99 percent of rival managers by owning Bear Stearns Cos., Freddie Mac and American International Group Inc
More SMH.
Morning post for Jacksonian Opportunity Purchases…
Watch this space!
____
I just bought 50% of a doll yen pos here and look to buy at 95.40 is lower down with a stop at 95 for the lot.
Okay.
SMH ready to breakout.
And I am scaling out.
Ave. cost 19.14.
Redeploy some to MSFT,JNPR
In the decades ahead China will control the US without firing a simgle shot. Follow the money; we broke; they ain’t
Oil hits $50 and OPEC members(Iran, Venezuela, etc.) start cheating, here comes some extra supply:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6NTm7qxfBK4&refer=home
Adding to my long term TIP holding that I bought months ago at 97.05. Inflation is coming, it may be a ways away but it is coming
Screw that faggy inflation bond shit. Get you some AGQ crack, son!
________
Again Obama kissing Pelosi’s ass
And quite an ass it is.
Comes from sitting down all the time on her taxpayer supported private jet.
Question: Does she get botox injections in her ass?
Second Question: If she is waterboarded is it the people pouring the water on her actually the ones feeling like they are the ones being tortured?
Used a large portion of my 30% cash position to buy WNR @ 13.78
and GAIA @ 5.53
THE PPT will tell you yuck! Don’t touch either of these with a barge pole. However, my secret, highly technical charting system called precise buy points on these. So I dove in with both feet on this mornings pullback and added 2 new names in size.
Western Refining and Gaiam.
Remember I’m up 50% YTD so my balls are fucking enormous right now.
Henry Fool- Be sure to wear an athletic supporter.
You don’t need abrasions from the sidewalk.
Tech is getting a murder raping today. I thought tech would lead us?
I volunteer to smack skank Pelosi with dead grouper tails till she blows barney frank, and declares herself a republican afterall…
Henry, didn’t you buy 15k shares of XOMA at .70 yesterday?
How’s that working out for ya today ?
I need no thanks or praise for bringing thy COIN upon you……
GTC sell 2500 PFE @ 15.50 from 14.25….any moment now.
This is what I was referring to a few days ago. When the market is melting up a monkey can make money in the small caps, but in a down or even flat market, true talent sticks out. So let’s see what you small cap addicts can do without the euphoria.
My post was a warning to newbies who thought they were going to be instant millionaires because of a few good weeks/months chasing penny stocks listed by bloggers.
GAIA is brilliant here! Trust me!!
Wait… only trust yourself. Fuck, I wish I could help everyone make money like this but I cant it doesn’t seem to work that way.
As the Fly would say if you buy shares in either WNR or GAIA you will most certainly suffer tremendous losses!
sell in may and go away
if the FLY is so right how come insider selling is at a 2 year high right here.
What does the fly know that the CEO’s of the companies he’s buying don’t know.
I bet the answer is going to shock the fly
Nails yes I did even paid as high as .71 for some of my XOMA.
I still have them why whats your problem?
I’m down 1.8% at this particular minute of the day Nails. Any other comments?
The Fly is wong today. *Correction-he was wong all along. Tech led us down. I think Fly OWNS FTK. NO volume, and he’s bidding and asking against himself. I will buy your FTK when it hits 1 Euro worth of $1.
Am I wong or is he light?
MS to be + soon.
anon
Insider trading watch is a crock of shit. Ignore it. Spoken to a CEO or a director of a company? When the fuck are they ever bearish.
Even now, insiders selling at at fast pace could very mean those fuckers need cash to anchor their lifestyles seeing their bonuses were zip this year.
j, I beg to differ. If you’re dumb enough to buy what insiders are selling, then good luck! I hope you have taken a million dollar life insurance!
I get 2 negative karmas for highlighting a stock that’s breaking out on big volume on a down 150 day?
Fuck you both. And your bitch mothers. And your skanky whore sisters.
Free Trader:
There’s something more in the wind when there’s such a huge divergence from the norm.
My bet is that a lot of these guys are panicked or simply need the need to keep up their spending.
J, true. Depends on who the insiders are that’s selling. If their top execs, then they don’t need any money. They have banks of pennies at their disposal. Also, as we’ve learned as of late NEVER go against the market. If insiders are on a selling frenzy, I wouldn’t buy. For example, if steve the fuck ballmer is selling 20M shrs of msft. I wouldn’t be buying msft any time soon. Right?
I was just with the Fly in a manner of speaking and he is busy BUYING FUCKING STOCKS!!!
…… It’s a BULL MARKET don’t you know!
These pullbacks in the morning are just chances to get long. Nobody even remembers what it feels like to truly run and run and run.
Da Bull
The “down thumb” is the new “up”. Glad I got out of ATHR before it bombed.
RE:”Insider trading watch is a crock of shit. Ignore it. Spoken to a CEO or a director of a company? When the fuck are they ever bearish.”
When they sell most of their shares the day before their company’s Q1 report comes out. Oh sure, they might be ‘lowing’ when they open their mouths, but you will have mistaken which end of the bovine is making the noise.
Free trader:
Perhaps. He may actually be selling for a host of reasons though. His private banker tells him he needs to diversify his net worth. he needs to pay the hooker 20 mill in stock as Steve ain’t going to get a screw for his looks alone or at the $10,000 very top end hooker hourly rate.
In point of fact Steve selling 20 mill of Microtheft really wouldn’t be telling us anything and would be quite meaningless as the fucker is so wealthy a $10 plunge in the stock wouldn’t mean shit to the fat lard.
Tech is getting a murder raping today. I thought tech would lead us?
It will, which should make your next question one of direction.
_______
With the big draw down in inventories one would not expect that the move in crude would be so muted. Like I posted late last night on this thread the fundamentals point to demand remaining soft. Crude is trading on hope the economy is recovering and hope that demand will pick up in the US rather than the fundamentals.
NG add @ 3.40
POT’s up 5%.
You gay maggots that neggy’d me for showing you a no brainer, low risk trade envy the size of your mother’s cock.
Any of you guys looking to get short anything? Or just waiting to buy this pullback?
I bet the answer is going to shock the fly.
I tell ya what would shock the shit out of me.
If any of the ball-less, sniping anonymous douchebags who arrive here regularly from the nethersphere ever established a screen name so we could actually determine whether or not their pithy advice was worth the brief bytes expended to display them.
That would certainly shock me.
__________
biotech set to attract more $$$$$..STEM- is a current play I am accumulating.
CNBC must recieve a Scud missile to headquarters soon.
100% fully loaded no stops and going out to do a little yard work for an hour or so.
See you later!
completely out of common longs, loaded up on FAZ (intending to hold until at least EOD Friday, options expiration)
Henry: No stops and out the door, eh? You gotta have some respect for a guy with a pair o’ those that would breed.
GoinF
Fool’s genes are what causes high speed accidents on the highways and dudes to road motor bikes without helmets. there’s nothing to be proud of.
NOTICE: The saying “Sell in May and go away” has officially been replaced by “Sell in May and stay home since you cant afford to go away…anywhere”
Please make a note of it.
Fly wants to let all of you penny stock lovers in on his pick o’ the day: BKC
“because he is being flame broiled”
Who are you anyway j? Ralph Nader? I bet you wear a helmet and a seatbelt in front of your laptop, lest a comet strike and slow the earth’s rotation.
Followed the link back here from my site. Love iBC. It’s one of my daily reads. Sorry to see Fly thinks my blog is a “panic blog”. Just to set the record straight – I was wildly bullish at the March lows with heavy positions (implemented on March 8th – http://pragcap.com/coming-this-week-the-m2m-rally) in TNA among others. Have I turned more cautious as everyone and their mother buys into the rally hype? Yes. Hedged yes, panicky, no.
As for your inflation thesis – you can’t have inflation without a pick up in the velocity of money and you can’t have a pick up in velocity without consumer borrowing and spending. If anyone can outline a robust consumer thesis for 2009-2012 I am all ears.
Love the site Fly. Keep up the good work.
The Fly is currently baaaaausy right now.
I’ve been outside tweeking out the old gal for the summer, 1957 all mahagony Chris Craft (18 footer), this fall I will pull her down and re-varnish her, she’s due for a new shine.
just came in to check and see what the DOW has done.
All looking good.
another -2500 to go and we’ll be where we should be.
carry on you misfits.
The last six days on SPY are now under water. http://tinyurl.com/ptmvt8
Fly is currently being dragged through the streets kicking and screaming and will be unable to post.
Who are you anyway j? Ralph Nader? I bet you wear a helmet and a seatbelt in front of your laptop, lest a comet strike and slow the earth’s rotation.
I don’t ride a bike and yea, i wear a seat belt on highways as not doing so is stupid.
Just buy SMH on dips and sell it as it rallies.
Daytrade only.
As long as INTC,TXN are strong SMH will be a good trade.
If AMAT can get off the mat a bit then we could see a big ride up.
But until then I am In n’ Out.
Just like the hamburger place.
Fly has been lost in his crop circles. We currently have a search party looking for him. We can hear him but can’t see him.
I think the question is will the true believers in this rally come out put their balls out there and buy the dips during the rest of the day and push the Market higher. Or, will the herd start walking instead of running and the shorts come in and slowly clip them at the knees and start the retracement of over 60%. If history is a guide and if it matters, and I think it does, we will see selling in mid May to late May. Like we had over the years. IMO the buyers are getting exausted. I don’t see that many buyers
CUZ we got a motha fuckin problem ho. We Fittin To Kill somebody. Some bitch jacked our money and We Gangstas.
“I don’t ride a bike and yea, i wear a seat belt on highways as not doing so is stupid.”
j, I never said Ralph Nader was an idiot. I just asked if you were he.
And, for the record, I’m all for guys on bikes not wearing helmets, it increases the chances of weeding out the weak, and proving Darwin’s theory.
But I don’t trust brokers any farther than I have to, so even though it’s risky, I would rather not leave the room with automatic stops indicating to them exactly at what price I will sell.
Hence my respect for Hank. (Well, that and up 50% ytd is worth a congratulatory slap on the back)
The best indicator to me is Fly. As long as he remains easily stampeded into the bullish camp(Fly must really be a COW…MOO!) I know the BEARS will continue to win the WAR. I believe the Fly is unduly influenced by his time on wall street. He still believes these scumballs can fool America into allowing them to remain at the top of the food chain. Sorry Fly, not this time. This time they will truly get what they deserve. Pain, suffering and hopefully death. BTW, ALL of your oil plays are down BIG. Odd no?