Let’s just burn it all down, shall we? The Nasdaq strength will not be able to negate the absolute fuckery taking place in the broader markets. Thanks to a variety of issues, the market is knifing lower. Some people say it’s due to “dollar strength” or “Bernanke is going to jail soon” sentiment. However, I am in the camp that believes Joe Terranova has jinxed the market for good.
All of the bullish commentary, coming from Joe, has resulted in great disdain for equities, sending stocks down the sewer pipe into large vats of feces.
We’re doomed again, gentlemen. Today’s early optimism has morphed into an outright “fuck you, you’re dead” rout. I was wrong for siding with the mentally ill, believing in a never ending rally, due to “green shoots” and golden shit.
Unfortunately, I must deal with the consequences of my stupidity, via capital losses. Just so you know, I’ve gone “suicide Joe” on this market, not giving a fuck about intra-day warning shots. I am hell-bent on seeing my positions trade higher and refuse to concede to the obvious signs of pending doom. For those with greater flexibility, you might want to heed my warnings, prior to entering new positions.
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It’s a big red and green rainbow.
Burn it down!
I’m willing to bet the market will turn around into the closing.
Most disturbing action indeed for those of us who are “mentally ill” and overly long.
this market makes me want to check into the looney bin
FTK sucking wind with majority of sales at bid. Any exit point?
Fly, glad to be on the same page. Next one week if bulls don’t get their act together with the excuse of quarter dressing, then that would be another nail in an already plentily nailed coffin. If Fed or GS desks don’t intervene, we are heading for abyss in the final hour.
I’m confused… so, guy was right?
likely accumulating for steppin higher here no ?
most of my stocks are dead green today
Yeah, Joe T. looks like a nervous virgin in a maximum security facility in Columbia. He must have went long a ton after his bold BTU long call and has been begging and pluggin his long side ever since.
thanks for nothing Joe!
Anyone has an opinion on IMAX?
Benny has a sweet ass, send him to jail. The convicts need a soft banker for a passionate distraction.
take fly as a contrarian ?
Lenny..anybody here…oh Lenny are you home?.. Lenny Where are you?
Stocks are for Asshats.
Trading Rules:
1. The trend is your friend
2. Never play without stops
3. Never, absolutely never, side yourself with Joe Terranova, ever.
Long live Jeff Macke!
I can’t sell short any more than I am here and I don’t feel like selling my longs since most are rocketing today. I think I will sit here with my faz, qid and srs coupled with my sonc, aib, drys, gme, wprt, ung, dxo and some others. If I was to go short something I would lean on CMG or CAKE.
Fly, You are giving me whiplash the last few days. Thanks, it has been hilarious to keep up with your change in moods. I think if I could figure out how to do a moving average of your daily/hourly mood, we just might have a solid indicator for the market. Just not sure yet if it would be a direct or contrarian indicator. I’ll have to work on that indicator and get back to ya.
Now, I’m really confused 😛 … shall I do as you say or do as you do?
Don’t worry about Fly’s mood swings.
He wears one of those groovy mood rings from the ’70s.
Who’s on first?………….
hahahaha…fly….hahahaha…you riding in disney maypole cup….spin spin spin…hahahha…i dont know! i dont know!…hahahahha…spin spin spin, fly…hahahahha
This market is making me crazy. Up, down, up, down, up. I feel like a bunny with a carrot dangling in front of me, only every time I get a nibble the damn thing gets snapped away from me. How many nibbles does it take to eat a whole carrot anyway? Was up 5.5% at one point today. Now a mere 2.6%.
So, I’ve decided to hijack the Fly’s dynamite car and drive it full speed into the sun. My balls told my brain to move my finger and click the mouse. My brain protested, but was overwhelmed. Sold 2000 DNDN (a portion) at $24.26 and bought 13,191 more AZK between $3.65 and $3.69. That bastard was at $3.97 at one point today before the Fly jinxed it. Now have north of 35,000 shares.
Kids, don’t try this at home, and never without a crash helmet. This could end messy.
I don’t care anymore. I will play the game until I win. I have unlimited quarters to put in the box.
@Outdoorsman: I didn’t hedge either today, just sat there watching the carrot being jinked feebly back up to 900, waiting for a WTF-pattern that never happened.
(Betrayed by my baser reflexes again. When will I ever learn? It was a carrot that lured me onto Wall Street in the first place. Why do I love carrots anyway? There isn’t much meat on them. They’re kinda dry, too… but I love ’em! I love ’em! I love ’em! I love ’em! LUNCHTIME!)
Gappy,
Are you long GME? What is your take on GME this quarter (into earning)?
Thanks,
Joe Terranova has a cheetah skin bedspread, a fur lined bathtub, and abnormally freaky white teeth.
Of course, he is gayer than Perez Hilton and stocks, as always, are for asshats.
hey,
are the ratings buttons ever coming back? just seems like i am flying naked without them. lol
Fuck, its been a while since I have been in such a fucked up place. Got long this morning on XLE/OIH only to get my balls ripped out and handed to me!
Fly, your PMS aint helping here!
Bugs: LOL at your post. Sometimes you have to go with your gut.
————————–
On learning:
Skillfully,
the man juggled
a twelve inch blade
in his three-fingered hand
————————–
Now that their Casa Berardi mine is rehabbed, in production, and cranking out the gold bars, AZK has significant cash flow. They were on track to extinguish all mine development debt in the near term, and the substantial money they raised in their recent equity offering makes that a given. They have very experienced management, good prospective exploration properties, and are operating in Canada (a safe and resource development friendly place). My take is that, in addition to aggressively pursuing organic growth, that they are positioning themselves to buy a weakened development stage miner. I should do excellent with this company as long as the floor doesn’t collapse on the price of gold. One of the majors might even swallow them up.
DNDN was good to me this year, but will probably bump around here for the next few months. My only fear is that they will announce a US partnership for Provenge before I manage to get back in. Still holding a lot of shares.
you know, the main reason i visit this site is for your humorous closing remarks. that said, get off your ass, stop putting quaters in the box, and write one. i am fucking waiting.
Fly likes to put quarters in the box.
Either he tilts or gets a free game.
Long live Chivas
Fly likes to bring his Quarters to the Tit Bar. Strippers love it when he makes it rain.
Fuck you. I was going to write one, now I won’t.
NO CLOSING COMMENTS FOR YOU.
LMFAO
(JAZZ) in play tomorrow….more Phase 3 results
Why was the above comment waiting for moderation.????
Death to the tan one!
Jim Cramer Blog
Bernanke Besmirched
By Jim Cramer
RealMoney Columnist
6/24/2009 6:57 PM EDT
URL: http://www.thestreet.com/p/rmoney/jimcramerblog/10526719.html
Furious. Livid. What an outrageous charge.
Did Rep. Daryl Issa (R., Calif.) have any idea what can happen to business when he makes such charges, charges that every one of my sources believes to be totally untrue? This is what passes as the right thing to do? This is the Federal Reserve for heaven’s sake.
You can’t just accuse a Fed chairman of a shakedown. You don’t just go on TV and make a charge. Does he have any idea about how hard Ben Bernanke has worked? And he throws a bomb on this?
Heck, you want to look into something, look into how wrong everyone was about Lehman and how the law would have let them save it without a problem. Look into the TARP bait and switch. Look into how AIG (AIG) turned into what looks to be a criminal enterprise.
But to look into Bernanke allegedly pressuring a CEO into doing something he wanted to do — buy Merrill Lynch?
A totally outrageous charge.
I am sick to my stomach about this, just sick about it. We should all be sick about this. How can Bernanke clear his name now? What can he do? How can this be turned back?
I can’t think of a way.
When I first heard the charge, I thought it laughable given the circumstances.
Now I want to cry.
The one guy — the one guy who has saved us.
Thanks Daryl; thanks for nothing.
At the time of publication, Cramer had no positions in the stocks mentioned.
——————————————————————————–
Sad news. The Hav-a-Tampa cigar factory that has been around since 1902 is closing.
Taxes and smoking regulations.
http://www2.tbo.com/content/2009/jun/23/231900/hav–tampa-cigars-closing-tampa-plant/news-metro/
FLY , The market looks pretty weak . You should have some balls and bring Josh back, I miss the spiderman charts …
Tax the rich .. feed the poor .. till there are no rich no more .. insanity ..lyrics from a song by 10yrs After ..The market reflects the confusion that is in every thinking persons mind.The Govt. is the new venture capitalist..
I’m stuck in the funnel now baby.
I set the train a rollin.
I’m tied to the tracks
The train of consequences,
there ain’t no turning back.
http://www.youtube.com/watch?v=ZFR5WylNrxI
terranova looks like he bathes in crude or is it cottonseed oil? ..what a greaseball -betcha he eats his mama’s baked ziti outta rubbermaid for lunch….fast money is toast…show sucks cause ratigan replacement blowfish lips thinks she’s hot as general tso’s chicken testicles and “we blew it” Rat n Macke holdin hands now in nowheresville….wahhhhhh…
New post… one more stop (half) hit today, but still a green day, albeit a Daze of Malaise.
_____
everybody get your bikinis out and call up eric nies, because we’re all going to be on the grind.
FLy:
WTF are you doing? I go to bed and you’re bullish. I get up and your despondent.
Read what you said earlier today. You suggested people/you should become more NASDAC focused. We took your advice 🙂 and now your telling us to go back to being Dow focused again.
Make up your mind here willya. The NASDAC actually did okish today, dude.
asia off to a decent start.
Notes from the day “We have too much democracy” -Jim Cramer & and oil will go to $65 if we keep saying it will. The only thing that saved the bears is a small pop in the dollar.
Too bad earning just aren’t going to be bad enough for the bears to get that super pullback they want.
we are officially in a “no wind” zone of the ocean. we will sit here floating around eating salted cod and crackers waiting for a wind coming from any direction to get our sails back up and move us “somewhere” but which way no one knows…… and no one knows when a wind will come.
we could go up from here or it could be all over for awhile and we drizzle down, down down, little bits at a time until you realize that 15.00 dollar stock you bought long is back to 6.00….o-shit….. then 5.00, then 3.00.
the only difference is going to be next time there will be no bounce back….. what we just experienced was a great unstoppable market that went from 5000 to 14000 in no time….on the way down the first time people across the country who all had jobs started to see the first lay-offs….now, this second time we already have faced 10 million lay-offs and if we tank again, the lay-offs will be double that. see, if the market goes back to 7500 or 6500 like people are predicting then this second drop will be far worse than the first time. small companies are already at the edge, any less business will put them over the edge. I just had supper in a Mexican restaurant up town and it is in a brand new strip center built around 2006 that is very nice and all stucco and it contained 5 seperate sections for 5 different businesses. It was fully occupied, now, tonight, all is gone but the mexican joint, empty, “space available” signs. weird…..
Actually I have made it a habit to check zerohedge several times a day and to make a note of the Egan-Jones listing(s) of the day.
Good stuff.
Fly, ignore those pikers! Bruno is going to be on their arses very soon. He like a very much!
Any further thoughts on GLW and TRID? Can tech lead the way again?