As bowling balls flew through the skies of Wall Street, “The Fly,” better known as “Le Fly” in France, stood firm, handing out beat downs as if they were food stamps. Amazingly, the inept basket cases at Flotek Industries, Inc. [[FTK]] managed to see their stock lower, despite today’s epic short squeeze, mainly due to lack of communication with shareholders that decide their fate. Ho-hum.
Aside from that, it was a “bag ’em up and throw ’em off the bridge” market, with outrageous gains in everything under the Sun. This is the sort of rally that teaches the bears, through tragedy, a stern lesson in investing. All thanks and praise to the MEGA-TRON bull quants, provided by the friendly folks at Goldman Sachs.
The following holdings helped my plight in becoming “rich as fuck”
Corning Incorporated [[GLW]] , [[ERX]] , TEKELEC [[TKLC]] , OmniVision Technologies, Inc. [[OVTI]] , SandRidge Energy Inc. [[SD]] , [[ENTR]] , [[ARMH]] , ADTRAN, Inc. [[ADTN]] , Ciena Corporation [[CIEN]] and Atmel Corporation [[ATML]] .
Going forward, on our way to 9,500, I want to be long specific tech names, which are outlined for PPT subs only (fucking ingrates, most of you are). Additionally, I want to be long stocks with big dicked short positions, which I will touch on later on tonight or tomorrow.
Indeud.
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Oh my 😛
TGIF
What a day!! Thick steaks tonight
whats your thoughts on NGS natural gas services
not yet dude. Give it till August.
FTK is bk – that’s why there is no communication…riding it with you buddy, all the way to 0
WTF is with the gloom.
I doubt they will file. The CEO is a lifer and they can convert debt for equity, to the tune of 40 mill
Jed, eats microwave food.
Fly you are a machine. Throw me some lotto #’s
And the fair-weather fly fans are back….
Naturally, they all love me now.
Fly, whats important is that you love yourself?
Long Live Senor Tropicana and all things Pineapple!
I will hasten to memento mori, at these junctures.
Sorry Fly we need a deeper correction before 9500. 8200 isn’t gonna do it. The bulls need to feel some pain and they haven’t since March. We’ve been in a range since May and you’re all fucking giddy. I guess you are making money, but you make people wanna take Cramer seriously.
fool – One question. Why? Please explain. We had a correction to the move from May and now (I believe) it’s over. Why is that so complicated. I believe there are a still a lot of money managers that are under invested and need to pony up.
I’m thinking exactly what this guy is thinking with the expanding triangle. It’s pretty clear. This could be the ultimate head fake, shaking out bears and then bulls. Volume hasn’t been strong either.
http://themarketbrothers.blogspot.com/2009/07/taking-contrarian-approach-part-2.html
I will be a man and say my sell-off rest of day comment off Fly’s 10:31am trash talk post was wrong.
We all err, even “Le Fly”
no, it was not wrong, it was idiotic
so was buying FTK at $2.50
I’m living off those hellaciously shorted stocks….
And it continues:
XLNX Xilinx beats by $0.02, misses on revs; guides Q2 revs above consensus (20.66 +0.83)
Reports Q1 (Jun) earnings of $0.21 per share, excluding non-recurring items, and may not be comparable to the First Call consensus of $0.19; revenues fell 4.8% year/year to $376.2 mln vs the $381.4 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $384-399 mln vs. $381.93 mln consensus. Sales are expected to be up ~2-6% sequentially. Gross margin is expected to be approximately 61%.Operating expenses are expected to be approximately flat including $5 million in charges relating to restructuring activity announced on April 15, 2009. Interest and other is expected to be a net expense of approximately $3 million. Fully diluted share count is expected to be approximately 278 million, flat with the prior quarter. September quarter tax rate is expected to be approximately 16%.
and it continues…
CIT has worsened. last bid 0.01
http://www.reuters.com/article/marketsnews/idINWEN064720090715?rpc=33
fuck this spam protection too.
“Bear Stearns is fine!!”
Obama has been briefed on CIT.
http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200907151626dowjonesdjonline000826&title=white-house-obama-briefed-on-cit-group-situation
I’ve got to stop reading about the economy. When everybody and his brother is in their front yard digging potatoes, trying to stave off starvation, the market will be in an uptrend. Fuck
xlnx is down 70 cents you moron
so what. It’s up, even though it’s down
Glorious Rapacity has me howling, not chuckling, with laughter.
Good call on the bull market…
And GREAT Dennis Kneale Commercials!!!
Indeud, Fly is fishing with dynamite.
http://www.youtube.com/watch?v=GtqesudKxSA
Nicely done. How’s ytd now?
Is le Fly any relation to le Big Mac?
Le Roi with chevre?
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Er, “Avec” I mean.
On account of the metric system?
Les chevres du roi
What the flick is wrong witchoo, goin to Germany?
I oughtta smack ya.
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These times are too uncertain to be certain of anything – let alone a new bull market.
Looks like government actually showing some back-bone and letting CIT go under. Wowser.
And to think i was toying with the idea of moving into the prefs yesterday, any news as to what the bondholders will get, 70 cents on the dollar maybe?
friday will be a whopper of a day………
Why? Beyond the obvious…
BB&T, BofA and Citibank all have earnings reports friday…..
A brand new ‘educational’ resource from the CBOE…OptionQuest trivia game! Test your skills, pikers!
Comment is awaiting moderation!? boooo…
Still short the S&P, up 2% YTD, big yawn. deflation, not inflation, market will roll over. Bank earnings not real, INTC, one company one chip. FTK goes to zero, sorry Fly, you should really do more DD on this one.
Interesting video on high frequency trading posted on zerohedge:
http://watch.bnn.ca/clip193943#clip193943
Yeah Saluzzi was on bloomberg talking bear prior to intel earnings last evening. Heres the thing, if these things make 70% of the volume then why isent volume more normalized and constant (provided they are on during those days for the same amount of time)?
Glad to see BNN has had quite a few good pieces.
Good watch.
It’s Tradebot vs Tradebot and the whole deal is a scam.
This is a kind of sophisticated program trading which took down the market (along with portfolio “insurance”) in Oct. 1987.
I too believe Tradebot(s) will be in the off position when liquidity will be needed most.
The whole deal is Vegas on Wall Street with Tradebot as the dealer.
Out of FAS puts. Took a 30% hit. I think FAS sees $3 at some point but not before October so i am out for now
I’ve been on 20 day water fast so I haven’t paid much attention to the market. I should have known that GS will blow out earnings. Uncle Paulson killed the competition for them (bear and Lehman).
Tomorrow I look forward to feasting on 8 Oz of watermelon and if the market is up, I will cover more puts. This has been a horrible week for me financially.
Fly, I admire your stamina in staying with your conviction. Congratulations on well deserved winnings this week.
are you in jail somewhere? political protest? strange vegan dieting requirements?
Joe is actually Bobby Sands, of the Provisional IRA.
(Sorry for the disclosure)
This was before your time Fly, but I remember the headlines in the Daily News from back when I was a kid.
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Goldman has yet to buyout the media and control reporting here in Canada:
http://watch.bnn.ca/clip193943#clip193973
No, the gummint already controls the media in Canada, they don’t need a bank front to do it.
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Geez, does this woman have an ex-husband whose a Goldman guy? I mean, I can’t stand Corzine the commie either, but bringing him up so she can make like she’s smarter than the people at Goldman?
Sounds like chip on shoulder time.
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Thats why I posted it, more as a parody of the whole issue, its such a rarity to see this type of browbeating on Cdn TV. The seat belt was the best, as if not wearing it on occasion means your devoid of intellect. Its surprising because she typically comes on every few weeks and is normally value-added but alas, just like these weeks market, blips do occur.
Your fast sounds rough.
I’m fasting water. You know how hard it is to find non-water beverages? Melted butter. Cheese shakes. Meat smoothies. Hot bacon grease.
I could use some water.
Citigroup on ADTN tonight, similar to last night:
Impressive 2Q09 Beat Overshadowed By Conservative Guide;
Maintain Buy on Broadband Stimulus Boost Ahead
Stock Call — We maintain our Buy (1H) rating as we expect ADTN to benefit
significantly from the Broadband Stimulus package, given its exposure to tier
2/tier 3 carriers (~30% of revenues) and market share in broadband access.
We recommend investors build positions on any near term share weakness.
$27 target.
**
RIMM was on fire today! No $3 sell-off mid day like usual.. good to see…
that said, added QID near end of day today at $30.86, prob get out in the am if need be.
ESV was on fire today as well, but will prob get taken down good tomorrow based on EPS news tonight.
watching BAXters earnings tomorrow…
China made up some good growth numbers and Asia is currently ape raping bears. Look for Jamie Dimon to drop a winning bomb on the market tomorrow morning. Options expiration this week. Unless this is the biggest head fake of all time, bears are in trouble.
What did DK have to say about you and stocktwits?
It was lame, as usual.
http://bit.ly/18dPcA
LL, AIXG, MVL, ORLY, ROST courtesy of Dr. Wish
Can’t publish mah shit… huge bummer.
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what shit would that be???
Mah bloggy shit, dawg.
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“Le Fly”,
You really bought A&F? That is gay on so many levels.
This guy says oil is going to $20 this YEAR.
http://www.bloomberg.com/apps/news?pid=20601087&sid=auTu3RI8WC1A
Fuck Bloomberg. This article is better.
http://businessandmedia.org/articles/2009/20090708213034.aspx
How much is Verlanger up this year? $1.29? Thanks…
Jon Stewart nails Nails … and Cramer.
http://www.businessinsider.com/jon-stewart-finally-gets-around-to-insulting-cramer-over-dykstra-2009-7
excellent….
thanks for the link.
Wow even better than the estimates.
(Bloomberg) — JPMorgan Chase & Co., the second- largest U.S. bank, said profit rose for the first time since 2007, surpassing analysts’ most optimistic estimates as investment-banking fees reached a record.
Second-quarter earnings increased to $2.7 billion, or 28 cents a share, from $2 billion, or 53 cents, a year earlier, the New York-based bank said today in a statement. The average estimate of 14 analysts surveyed by Bloomberg was 5 cents a share, including costs to repay government bailout funds and an assessment by the Federal Deposit Insurance Corp.
I guess the “rapacity” continues.
Bought FAZ yesterday @ 41.3, Bulls beware we are gonna get a retracement today.
Good Morning Vietnam!
Gonna get retracement today? Ha ha.
Sold now for 43.45, ill take my $2.15, thanks.
anyone here just buy CIT for .02 cents?
Prefs look more yummy
Late post… redone from last night’s “total WordPress loss” — Jackson in Elysium
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