No one believes the rally can continue, which, incidentally, is exactly why it will. Traders are in a perpetual state of wrongness, betting against this rally, with misguided reasoning.
The banks have been cordoned off. If you haven’t figured that out by now, then you are a first rate idiot. Now, in an unbelievable twist of fuckery, those same people are selling short due to dollar weakness.
Asshole, stocks go up when the dollar dives. It is our first class weapon against foreign exporters. By way of fucking the little guy, via currency devaluation, U.S. corporations are enjoying large overseas profits. This is exactly what the Fed and Treasury have been trying to do: create a sense of inflation.
Believe me, inflation is a much better evil than deflation.
In short, with [[UUP]] (Dollar) knifing lower, it is your duty, as a tax cheating American, to get long in a very egregious way.
By the way, ARUN blew the doors off of quarterly numbers, which is one more piece of evidence that my theme is a correct one.
Bottom line: you hunched backed bear fuckers are about to be taught an unflagging lesson in stock market trickery 101.
Stay tuned.
UPDATE: I bought 10,000 SIFY @ $1.79
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Fly:
This is a question rather than a challenge to your thesis. If the Dollar keeps weakening as a result of foreigners tanking out who funds the deficit?
It’s the speed of the fall that has me a little concerned.
Billy Mays here again for Oxigene. That’s what I’m talkin ’bout!
the market will do the obvious in the most unobvious way.
you did reverse reverse psychology and ended up on the side that’s about to get their face ripped off.
Fly,
You got it wrong. The big shorts have not returned yet. Volume is not there
Beware: Kass agrees with Monsieur Le Fly.
Kass: Revenge of the Longs
By Doug Kass
RealMoney Silver Contributor
5/22/2009 11:51 AM EDT
URL: http://www.thestreet.com/p/newsanalysis/investing/10504723.html
Yesterday was the type of day in which the shorts and the underinvested rip their hair out as the S&P downgrade to negative of England’s credit rating raised concerns that the U.S. credit rating will have a similar fate. U.S. government bonds and notes fell precipitously, and the U.S. stock market briefly looked like it would go into a mid-afternoon free-fall. (Note: The notion of a crowding out and higher interest rates was an integral part of my correction call over the past two weeks.)
Instead, equities halved their losses late in the day, and in this morning’s trading, futures are solidly in the black.
Trust me, I have been there on the short side, and I have felt the pain of days like this.
I continue to surmise that there are so many hedge funds that failed to believe in the recent market surge and that are underinvested and underperforming as a consequence. They recognize that they missed the bottom, and after their dismal performance in 2008, they cannot afford to continue do that path. Stated simply, their businesses are at risk. The only question is when to enter for many, as they simply can’t afford to continue to trail the market averages.
Then there is the issue of the large U.S. pension funds that are markedly skewed toward fixed income exposure – after the material outperformance of bonds vs. equities – over the course of the last 18 months. With bonds tanking and stocks rallying, a reallocation by these funds out of bonds and into stocks is almost inevitable as these pension plans become the important marginal buyer, ultimately providing classical fuel to a march higher in stocks during the summer, even despite the wall of worries.
It’s the revenge of the longs.
I guess Erin got tired of the 419 dick and moved on. Fucking retarded.
I don’t know Fly, I mean on one hand I want to say “You know this guy is right, just close your eyes and hope and it will become. He has nailed the shit so many times he is bigger than the market.” Then I find myself opening my eyes and saying fuckface look at the 10 getting blown the fuck up, look at convertible books and their need to delta hedge by shorting more fucking stock now. I mean yeah maybe I do understand what Macke was saying now, maybe he is right. Look at the retards buying GM, its done stop pretending its not. Look at jobs, they are still knifing lower. I just don’t know, every fucking tick of the long end makes me worry more. As of late I have been grinding higher with my consistent long commodities in size and short CRE/Banks and q’s % leveraged, maybe I should just sit here and stop tinkering. My gut says lower while my mind is playing tricks on me. I feel like a hooker thinking she is just a high end entertainer while stepping over used heroin needles. Maybe your idea is a desireable mirage that lasts for a bit until I open my eyes. If any of that makes sense just nod.
i love the shitweasels who are always wrong yet continue to post mkt direction calls…STFU..you know that i know who you are…THLD…thats the ticket.
Hat tip to Henry on OXGN..shamwow…!
So, a falling US Dollar is good for the stock market?
Hmm, I can see it helping US multinationals, although you should remember the rest of the world is badly messed up to, so not much spending going on full stop.
Also, sure as eggs is eggs, the US consumer is retrenching big time, and higher prices for imported goods aren’t going to help them at all.
I see deja vue, Fly was just as bullish before the crash in March, anyone else remember that?
Down we go, starting anytime soon.
Gold is the thing to be in to hedge against a falling dollar, and general fiat currency troubles.
Are you a SIFY poet?
No one believes the rally can continue, which, incidentally, is exactly why it will.
———————-
really? thats what everyone is saying, even CNBC.
SIFY: Market Cap 46.74M
Is that in dollars?
Bottom line: you hunched backed bear fuckers are about to be taught an unflagging lesson in stock market trickery 101.
Holy shit, I think I just shat my spleen. Roflmao.
Asshole, stocks go up when the dollar dives.
Fyi — UUP just bounced at the 12/17/08 low.
________
Excuse me, but 19 banks have been cordoned off. The other 8,000 have been left to fend for themselves. So far this year, 34 have bit the dust and another 666 are twisting in the wind.
Just saying….
How easily we forget The Fly’s dumbass retard calls of the past.
Remember back a few weeks ago when he loaded up on SRS and FAZ, calling for the unicrons of the apocalypse to rain down on wall street? Ooops! Like a gentleman he admits to being wrong, but then lets the rightousness of recanting one’s transgressions get to his head. Now he’s on another visionary trip, conviction way out of line with reality.
Buddy, your belief in your own abilities is on par with my belief in the magic marble I bring to bingo night. How about a little time out from getting high on your own farts.
Take a deep whiff of fresh air and take a look at what’s going on out there; the apocalypse may not be coming, but we’re in for a serious shit-your-pants kind of dip.
Hey friends! I’m not short! BoooooyaaaaHH!!!
I think you’re right everyone is either short or out of the market running scared.
Maybe oil thinks there could be some geopolitical shit over the weekend. I would not be surprised. Long egregious amounts of DXO and UNG. It would not surprise me if we had one index in the red at close.
I do believe this rally can continue, because we have Obama as our president now.
I’m also quite tall, not short.
I gave koushuu a thumb up only because he used a phrase I’ve never heard before that made me chuckle, “….getting high on your own farts.”
Jed, is laughed at for ending all conversations in: “You Know..It’s Not Rocket Science”
mrkcbill wears his underwear inside out and “crusty”.
That’s funny. Last I checked, I was up 50 percent this year. How much are you up?
Exactly and indeud.
Hey Fly have you ever stepped in a Mud Puddle? Seriously Fucker, you get your nails done don’t you? Probably sit right next to Art Cashin and get em all buffed out. Have a great weekend.
Long Egregious amounts of Lenny Dykstra’s Car Wash.
Jed spends hours on Mapquest.
Fly I know you like the banter but when someone just talks shit with no substance why bother responding.
And you homo cum guzzlers talking shit long or short, why not point to specific things that skew you one way or the other. Just small sentences will do. And no hope, want our Obama are not reasons to be bullish or bearish.
I hate to agree with Fly on this. I believe that the only functioning Chinese Wall on Wall Street is the wall between the stock market and the real economic performance/outlook.
AAII weekly investor sentiment suggests that he is right, for the moment. Bullish sentiment dropped 10% and bearish sentiment increased an equal amount.
It is a noisy data series, but it hasn’t really let go of its bearishness throughout the rally. In fact, the series hasn’t really shown any significant bullishness since April and May of 2008.
Call me what you will, but there has been some significant distribution going on. Volume is the tell. Light on the up days, heavier on the down days.
I will Danny would publish his charts and stuff to see if they would confirm this.
Danny is busy hauling around 2000 pound atm machines.
The problem is that we didn’t friggin rally the last 3 days while UUP went Enron style! UUP dropping IS supposed to be the fuel of this rally, but I don’t think we got much fuel left and we are already dropping.
Henry Fool is printing money, thats just the short and skinny of it.
How many times this year will he find a stock, buy into in the am, and watch it go up 120% in the same day?
seriously.
that is all.
There is no consensus because it’s a tough read. Market trading in a super narrow channel with and occasional drop then up to previous level. Volume is tepid because buyers are tepid and fearful.I wouldn t call this anything but play it a day at a time. Have a great weekend and relax everyone
PALM…new phone debut 2 weeks…indeud
Danny is feeling a little boxed-in right now…
These credit card changes are going to seriously dampen all poser spending..not good . Bought a cheap 2000 Jag in 2008. Dealer asked why I wasnt putting the car or at least a deposit on my credit card . He said people wanted the miles . I knew right there the world was fucked . Other countries looking up to our lifestyles and posers buying cars on credit cards fuck me
I see fair value for this market and this world economy at 875. Armegeddon is off the table, 666 isnt going to be revisited. 741 might be tested but the government control the game now, its not about technicals or fundamentals its about the what the government and fcuikng GS want to do with the market. Right now this is the easiest tape to trade for a long time, theres a huge government put under all your long trades. Damn, even I’m making money, and that dont happen too often.
Take the trade in front of you and for the next few months that trade could happen in the 875-930 range.
theres a huge government put under all your long trades.
Call?
__________
Well said Richy… Don’t fight the tape. If it turns down,change StratG.
Huge backstop on the market and GS is the smoothing agent of the Gub.
I’m sure you are right. I’m 15% cash right now and have some limits in place, so as I walk away before the close, I might be 100% by tonight.
I have to make some money elsewhere in half an hour and will miss the close.
Good Memorial weekend everyone. and Damn Henry…Just Damn I know you will!!!
The Deniro Raging Bull market is morphing into a weak baby calf market.
I can lift two ATMs simultaneously.
Fly,
at what point will you admit the bulls lost for now? After what % drop? Serious question.
oxgn. wow. up 68% still and over 100% up for the day at its peak. If anyone ever doubts fly again I will personally come to your house and take a shit on your FAT FUCKING FACE. good call that basket this morning fly. my hat is off to you good sir.