Ruh-roh. If my senses are correct (they always are), the bears are in for an arduous day, spearheaded by the better-than-expected numbers from LOW, the amazing/historic one day 17% melt up in India, the 2% reversal in European indices, the higher oil prices, the successful capital raise from STT (w/o FDIC help), the BAC upgrade to “conviction buy list” at Goldman, and finally, the positive news coming from certain chip companies.
In short, most of you are wrong, yet again (fucking shocker), with regards to where the market is going and why. You are stuck on stupid, reading the news clippings, which—for the most part— eschew any tidings of positivity—because doom and gloom sells more paper and ink.
My personal preference is to see the system collapse, like a giant block of feta cheese, so that I may take full advantage of my temperament and seize (colonial style) neighboring lots adjacent to my house—in order to expand The House of Fly. However, things don’t always work out according to plan. I am smart enough to know that the market is always trying to make me look stupid. The question is: am I willing to stick to my guns, just so that I could save face—and as a result lose money? Or, do any of my fucking opinions matter, except what I am saying/doing in real time?
Sometimes I get caught up in my own ideas, which often result in temporary set backs, of the monetary kind. As a matter of fact, I believe my current bullish disposition is counter trend to what many “brilliant” Wall Street pundits reinforce on a daily basis: go away in May.
Perhaps the market is due to pullback. But, maybe it’s not. What if the March low was the absolute bottom and the economy is truly recovering, thanks in large part to “free money” and wild eyed policy makers. Are you willing to miss out or get caught in a custom made murderhole, just because some asshole on CNBC said all of the banks are going to fail?
For a large part of this morning, into the afternoon, “The Fly” will be in meetings, unable to spoon feed you fuckers internet gold. My buy list is narrow, including CIEN, STAR, SPiL, ERX, as well as average downs on some of my positions: FTK, TWi, CUZ and ATHR.
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And don’t forget to wear socks to this meeting, forget the tennis shoes, and get the pasta stain off the shirt. A belt would be a good idea.
You don’t want to be unemployed like me.
It’s not over until its over…futures market is totally worthless as late to predict closing price.
Here’s my REVERSE DEATH HORSEMAN LIST (all will trade to zero):
TER, CIEN, TWI, SPIL, CDNS, THR, ASX, AMKR, ERIC, AIXG, SFE, BEE, CUZ, GMO, FTK
Lowes the next green shoot….
Lowe’s] now sees [fiscal-year] revenue ranging from down 2% to up 1%, from February’s view of down 2% to up 2%. It still sees same-store sales down 4% to 8%.
S&P 1000 by the end of the day. If India can jump 17% in a day then good ole USA financial engineering can get us there too.
When FTK gets to .01 The Fly will get 5 seats on the board.
Unfortunately, I followed him into the abyss 2 weeks ago.
I love the smell of Napalm in the morning!
Look I want this shit to melt up hard but I went to Lowes yesterday and that shit hole is not making money hand over fist. In fact, the numbers were not what they seem to be, I am confident in this after reviewing them with a smarter friend. Additionally I think we are setup for a misdirection today which will be de-balled on Turnaround Tuesday.
Either way its nonsensical and really just a car full of clowns ready to jump out and scare you like a 6 year old girl.
On a side note, I am starting to develop a strong case of odium for some of you on this board. Depending on the direction we head I may release the names of said souls.
Trade accordingly.
Lowes being flushed down the toilet. If Lowes breaks $19.45 then you shouldnt be surprised to see the rest of the market get flushed too.
morning…STEM set to pop with volume right here.
THLD thin but looks good.
Bank of America upgrade smells like 3 day old fish…GS are scumbags.
This is the sort of conspiracy theory that is down right fucking dishonest or the guy is so fucking ignorant he shouldn’t be writing a blog about Wall Street:
24/7 Wall street says:
When you see major brokerage firms, or the new bank holdings companies, raise their ratings on each other it is hard to not wonder how much of the upgrade is really based on the strong business at the firm that is making the upgrade. Stranger things have happened.
The dickhead who wrote that ought to know the SEC precludes a firm from making any prediction or issuing any analyst reports if it is directly engaged with the firm in making a stock issuance or advisory.
This is the sort of shit that loses people fucking money.
taking 6 emini short here… more uso short here…
LOL @ that Devil Dog pic!!
Cash:
This is nuts. Do any of you guys even understand how Wall Street firm operate or you’re all too fucking busy reading Dogs on Monday and getting jolted from one conspiracy theory to another.
You actually think the analysts at GS would be writing the forecast because the CEO told him to do it?
This is getting really fucking crazy.
Look, the GS report may be wrong, but there is nothing fucking dishonest about it.
Some of you guys really do think Bush pushed the buildings down on 911. Gone on admit it.
Where is The Fuckery playing today? Did they ever get a new drummer?
J– GS has long positioned themselves to benefit from their influence…I personally(I am allowed my opinion) think it is not purely based on improving fundamentals..If you do- then go load the boat in YOUR account with whatever the Jerkoffs at GS say…
Fly, can I live in a tent in the backyard after you bulldoze my house?
Cash:
I know how Goldie operates or at least operated at one time. The traders etc would see the research before the street did and in fact they would layer the transmission of the research to the best clients down.
That doesn’t for a moment imply that their research is meant to be dishonest in order to enrich themselves. They aren’t the best house on the street because they’re dishonest. They’re the best because they’re fucking good at what they do and they hire really smart people.
The semi truther stuff is just that.
Dude, If they were advising or issuing for BAC they wouldn’t be allowed to publish opinion… Period.
Chips are turning red now too. Watch out we could reverse lower hard.
J:..how did the $200 oil call workout..hmmm..Whatever, we agree to not completely agree…now lets find some $$$ making idea’s…the rest isnt really important..u can be right i want to make some $$$ this week. In closing fuck goldman.
Boy am I glad I didn’t buy TXCO. Oh yea, I did. Shit.
Exactly my point.
J:..how did the $200 oil call workout..hmmm.
But yea, fuck goldie’s.
in light of the events of the past 2 years, with the level of greed, secrecy and dishonesty on parts of many head honchos in the financial world, you would think J is the one who is out of his mind thinking GS ISN’T operating somewhat illegally. Not saying they are, but to ask,
“This is nuts. Do any of you guys even understand how Wall Street firm operate or you’re all too fucking busy reading Dogs on Monday and getting jolted from one conspiracy theory to another. … Look, the GS report may be wrong, but there is nothing fucking dishonest about it.”
is to demonstrate blindness similar to those who are professional conspiracy theorists.
Ottnott,
Only two guys have been right so far … Fly and Tony @ OEW:
http://www.ibankcoin.com/flyblog/index.php/2009/05/17/does-this-annoy-you/#comment-112900
Like I said before, don’t sell unless 876 is broken!
Fuck GS and their analysts
Anon
Okay, list the illegalities. No truther bullshit. List them.
Devil Dogs can’t compare to Suzy Q’s or Twinkies.
Holding 4K RJF long from 15.50…3rd ride on the trolley to 18+?…or not. Sold C position to hedge.
Bought 10K STEM 1.71…WTH?
Ill be honest, I didnt see today’s rally at all…
God damn it! Back to my cave to lick my wounds…
http://www.rallymonkey.com/oldvideo.php
j is brainwashed. Master Fly is using my teachings well – Money never Sleeps.
This is why I bought (and posted it) $FAS on Friday. Back to my crystal ball.
Note, sold $FAS at 9.58
SPIL- a Fly favorite looking very good here…
New low in July.
For a minute I thought this posting was about the series Lost and the Dharma Initiative.
Love the tap dancing DD pic!
VIX is heading down below 30 for first time since last September.
Najarian’s would say this means less fear in market = upward bias, not lower.
What decade, Dogs.
Up 5% on my WNR today but I think I’ll hold. It looks pretty good here.
If volume picks up and we stay op over 14 I’ll consider and add.
F it! Add to WNR 14.05 (overweight)
Asia, agriculture, precious metals, other commods – these are the best places here, no?
Fly, I just bought FTK as a last ditch effort to save my account. Therefor, it should make it’s way lower promptly. Just thought you could use the info.
Fly —
Sending you the bill for a new plasma monitor.
There’s only so much coffee spew it can take, and that Devil Dog pic on the cover was just going too far.
____________
Last Chance,
Better hope it’s not another TXCO …. oh, the humanity!
This is a secular run and not broad based. I seen a lot of laggards which should not be if we were starting another run.
Gapping:
Vix is lower as someone already told you, Libor is having another pleasant day. Why should the market flip over and die?
gapnyap,
Per OEW:
“There are three fibonacci clusters that are identifiable using the current SPX count. The first is between SPX 937-946, the second between SPX 975-982, and the third between SPX 1034-1049. These levels are obtained by applying 0.618 and 1.0 fibonacci relationships between each of the waves.”
“A 50% retracement would suggest SPX 1122, and a 50% rally SPX 1001. Thus far the SPX has rallied 39% to 930, only about 70 points from the lower target. After Primary wave B concludes a potentially severe negative Primary C will get underway.”
On the contrary E8, TXCO about to make a double bottom. Up from here…
Does anyone else notice the buttons on Michelle Caruso Cabrerra’s shirt appear to be under greater stress today. Cash-N-Guns probably noticed.
Last,
Glass 1/3rd full after the fall from low 70’s … you’re quite the optimist aren’t you?
I’m going to call it again: sideways action, sector rotation. for the next few years.
look very carefully at the 70s. it deserves to be like that. sideways
sell stupid stocks
buy smart stocks
Truer words never spoken:
“the financial blogosphere, for the most part, is entirely useless—a fucking wasteland of asshole rumor milling and pompous egocentric misfits.” Fly excluded.
Sully,
CNG is only obsessed with her goat faced profile … he can’t see the forest for the trees!
I could get some wood sucking shots off those girls … slurp, slurp, slurp … Ahhhhh
little cubs, little cubs, how’s it going, little cubs.
Cabrera fans(sully-E8)…you boys must live in Skankville..where rosie o donnel is considered hot..here in south tampa..the talent is crazy good…cnbc females are all sloppy skanks who couldnt earn 2 bucks for a lap dance here…but hey if you like her…i am sure the beaner chubby pig is available…call the studio…man up bitches.
FTK and ATHR are down, odd no?
DXO is zooming higher. Oil leading the markets?
Joe-Goomba-Terranova got his ass kicked in last wk short oil, now he is long….these fucks on TV are shit…Kass getting butt slammed now too…he should just STFU.
cash;
Beccy Quick is a fine piece of red meat.
find me stocks to make $$ on..fuck the sluts..have plenty
You ought to just go ahead and buy a controlling interest in FTK FLY, that’s where you’re headed. Then the Fly could name himself CEO of that jalopy micro ballz luzr. LMAO!!
C-Guns… you been in Tampa long enough to see the first Hooters go up? When I was in college, we stopped by that first one during Spring Break in Clearwater (P-house had just done an article on them, and of course I only get P-house for the articles), and we sat down and ordered some beers and thought: “OMG, we died in a car crash on our way down here!”
__________
For your stock picks… I like TC, SONS, and MON right here, right now. Keep an eye on EGO for this week as well.
_________
Jakester..yes have been here for that..a good friends wife was one of original Hooters girls..recently died,,his daughter plays some on LPGA (dakota dowd). Thanks for the picks…!!! STEM getting close to breaking out..EDGR did already on its wat to 2 bucks..THLD thin but interestinng
Becky Quick is a girl next door virgin. You guys should not talk about her like that.
Devildog to be replaced as a “tabbed blogger” by Dennis Kneale!
Josh preparing for a margin call ….
FTK can’t rally with oil going to the moon? What the fuck Fly?
DXO fucking on fire!
Buying up $WBS
Melting up here …. up a Fly-like 5% in one acct and 8% in the other today.
Volume sucks but A/D ratio improving all day … LOW’s today and HD tomorrow …. watch Asia tonight!
I’m waiting this one out until the market trend is clear. Plunge Protection Team manipulation is tedious and boring.
Up yerz with the negative karma Shorty … go fuck a fluke!