Secretly, most of you wish death upon “The Fly.” Come to think of it, if I was a low level card puncher like you, I’d hate me too, always bragging about dumbass monetary victories and other shit. It gets boring and grating; I know, but don’t care enough to change. Some of you will never listen, no matter what. I respect that.
When I was half-way retarded, new in the business, I never took advice either. I wanted to learn for myself, even if it meant my head had to be tossed into a commercial size fan. Unfortunately, it took egregious losses and multitudes of missed opportunities to become God-like, living in under the umbrella of “God-ville” (no idea what the fuck that means). A wise man once told me, and I quote: “the quickest way to success is emulate those who have already made it.” After that, he started ranting about “faking it till you make it” and all sorts of stupid shit; then I lost interest and told him to go fuck his fishtank.
The point I am trying to make: The NY Mets are a really shitty baseball team. They should cease thinking for themselves and copy the Yankees, without variance, until they learn that shit (whatever the fuck the Yankees do) with their eyes closed, hands cut off and tossed into the Harlem River.
Regarding the market: the rally has ended; but I will not short stocks. Instead, I will bide my time, building watchlists for purchase. I have a 60%+ cash position and will be sitting pretty, if the market corrects. Back to my original point of not trying to catch tops: I am not. I had an exceptional situation today, with one of my motherfucking/bloodsucking positions getting raped by the assfuckers at Flotek. I had to lower the boom, since I could not afford to let the banana be mistaken for a penis (I may have that backwards, who gives a fuck, right?), while visiting the gorilla factory, if you know what I mean.
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FIG….methinks you might be right.
what the fuck ,,fig??? what it mean?
Yah, FIG!
hint: Terranova is not
FIG ?!? It’s time to resume the Bear market!
Party over, ok.
http://www.youtube.com/watch?v=ACaxDpAJsbo
Let’s prepare the next one…..
AMAT better than expected earnings…I thought that would at least tingle your balls a bit FLY.
just hang the painting back up and get the rally started again
Prechter – who said to cover shorts in late Feb – is saying the next leg down will break the march lows:
http://finance.yahoo.com/tech-ticker/article/299205/Bob-Prechter-%22Quite-Sure%22-Next-Wave-Down-Will-Be-Bigger-and-March-Lows-Will-Break?tickers=%5EDJI,%5EGSPC,SPY,DIA,QQQQ,%5ERUT,BGZ
Your perma- bull stance is broken? How surreal. I’m calloused from the thrashing you’ve given bears over the past weeks. I consider myself a recovering bear.
You are insufferable when you are winning; the fly in robes n punching your faithful readers out.. Telling us mortals how full of shit we are. But a day of losses and you are on your knees praying to God. Bipolar much? Cramer’s got nothing on you.
The folks on Fast Money said this downturn is for real. I concur. Will we test march lows?
fast money is retarded
Thood for fort.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2uzw71az3O0
I agree, the test of 950 shall be interesting.
the party is just gettin starting suckas.
fly,
you said yourself that you wouldn’t call the top. did you mean that you wouldn’t call it accurately, or you weren’t going to try?
Perhaps I’m jumping the gun with regards to the meaning of your forthcoming post, but it seems like this is something you’ve “warned” us and yourself about. Why try to call the top? Has the effort of trying to play inflection points in the market been profitable in the past?
More later.
FAZZZZZZZZZZZZZZZZtastic!
Respected sir – Rally has paused, or ended, period?
I respect that , fly.
Everyone chill. It’s August and everyone is hot or on vacation. Twenty-two trading days ago everyone was all hot and bothered about a head and shoulders top that never happened. Then we went straight up for a month without even the tiniest pause. We’ve been down for two days and all of the “Internet Retards” are ready to stone leFly. It’s now my favorite contrary indicator. Carry on.
Classic Monsieur le Flea 😀
really….only a few days ago any mention of stock prices declining was viewed as lunacy by Das Fly…FXP about to become popular again…continue chasing shitty breakout stocks, or just shitty stocks in general.
I hear its Africa Hot in Romania.
but I’m still expecting a rally after FOMC announcement
Barring unexpected opportunities, no buying until after Labor Day. Weak volume and negative vibes tell me not to step any further into this pool.
Funny stuff.
After that, he started ranting about “faking it till you make it” and all sorts of stupid shit; then I lost interest and told him to go fuck his fishtank.
Hey nobody go pulling a Kevin Youkilis.
Lesson: Learn how to fight before you go swinging or you just might find yourself at the bottom of a pile.
Gotta love the little skinny pitcher with the hip toss on the fat ass Sawx gorilla.
Major hilarity to this Yankee fan (I am in Maine, where all they have on the tube is Sawx this n’ that).
________
Hilarity to this Yankee fan too.
His batting stance alone provides with a lifetime of yuks.
If you didn’t have a batting stance like a homo riding a dildo maybe you’ld
be able to get out of the way!!
http://www.youtube.com/watch?v=hxr_vweLSt0
DVAX NEWS – go find it yourself
Seem like HELISAV is all go in Europe, and highly likely in USA.
This is the KEY sentence. It opens the Vax up to so many more people. It is the game changer.
“EMEA suggested that Dynavax consider the development of HEPLISAV for adults under 40 years of age who need rapid protection, a group that includes emergency personnel, healthcare workers and international travelers.”
This is just about everything we wanted.
CROX new line of back to school shoes. I like It!!
CATM
new position 4 me yesterday looks like it go here.
I like CROX going to 7-9 range…. lets call it $8
Give me baby one more time…….
Wow, fuckstick Cramer just jumped on the mobile internet bandwagon, recommending the following:
CSCO*
21.17
Cisco (CSCO*)
GOOG
453.94
Google Inc. (GOOG)
AAPL
162.83
Apple Inc. (AAPL)
RIMM
72.11
Research In Motion (RIMM)
PALM
13.92
Palm (PALM)
ADCT
6.90
ADC Telecommunications Inc. (ADCT)
STAR
22.35
Starent Networks, Corp. (STAR)
CIEN
11.36
CIENA Corp. (CIEN)
TLAB
6.15
Tellabs Inc. (TLAB)
TKLC
16.16
Tekelec (TKLC)
CTV
26.05
Commscope Inc. (CTV)
QCOM*
45.40
QualComm Inc. (QCOM*)
BRCM
26.63
Broadcom Corp. (BRCM)
NETL
38.59
NetLogic Microsystems Inc. (NETL)
XLNX
21.31
Xilinx Inc. (XLNX)
SWKS
11.04
Skyworks Solutions Inc. (SWKS)
ONNN
7.49
ON Semiconductor Corp. (ONNN)
RFMD
4.81
RF Micro Devices Inc. (RFMD)
CY
10.40
Cypress Semiconductor (CY)
TSRA
25.51
Tessera Technologies Inc. (TSRA)
SNDK
16.75
SanDisk Corp. (SNDK)
Just getting around to reading Ragin’ Huh?
Oh Henry, Nice work as always!
Fly, I hope we will see some of your freakin’ Space Alien Magician work today. The FHI (Fly Hater’s Index) contrary indicator is a beautiful work of art.
I’ll shut up now.
Geez, Cramer must have a PPT subscription that freakin’ thief!
_______
Oh shit, didn’t see that!
Done for the AM.
Thanks SMH.
Trader C
How much are you pulling put of that one each day. It’s all I see you post. 🙂
—————-
Markets copped it up the backside in Asian earlier today. If the US market holds up here, it’s heading higher and yesterday’s fall was a head fake.. maybe.
j – I think Treasury auction results will be the key again this week. If the auction goes well with good demand, we can go higher. If it’s a poor bid to cover, then all bets are off.
On a weekly basis I average about 1.5-2% per week trading SMH (wins and losses).
I will go long or short depending on my indicator. I trade several etfs.
It doesn’t sound like much but comes out to about 70+% per year.
I learned a long time that consistency with singles is more important than triples and home runs.
To survive as a trader one needs consistency and and some kind of an edge that will allow one to trade based upon some non-randomness (not sure if this is a word). See Gil Blake in Market Wizards.
I traded like Blake using the Fidelity sector funds before the book came out. I guess we had the same idea.
The trick is to know a group of stocks (or an etf or two) and know how they react under certain conditions and to not over trade. Th best time to trade is 9:30-10:45 and an hour or two before the close (watch for mid- day reversals). Make the singles and then just sit back and watch the chop.
I know it’s not an exciting way to trade but one will last longer as a trader.
Too many buy the mo mo stocks and don’t last long at all. It’s not supposed to be gambling.
Sorry for being verbose.
not verbose at all. In fact not enough.
Thanks.
What indicators do you use?
To make a long story short, I traded sector funds for years (Fidelity allowed hourly until they added a short term fee) until the market timing was penalized about 2000 or so.
I didn’t find a substitute for several years (when etfs became liquid and prolific).
I have found some etfs to be mispriced at the open especially. The pricing gets back into line rather quickly though. I am in and out and rarely hold for more than an hour.
I look for etfs where only 3 or 4 stocks make up a substantial portion (50+%) of the etf. I watch those stocks (modern day tape reading I guess) and how the etf price reacts on a relative strength basis to the general market direction.
SMH, XLF, etc. fit my bill.
No gun slinging for me. I just want singles and consistency. It may be dull but the odds of success are much highe IMO.
TC, great thoughts and comments. Thanks!
I think I’ll short the market as I look for my shoes and glasses… so I have them
HA!… one of my favorites.
“I can’t see, godammit!”
Yea, I think you’re right, Yogi.
HFool buys MAIL @ 8.38
hardcore, the volume didn’t scare you? I found it a while ago but man it’s thinly traded.
HGSI, SMTC, CSIQ, CATM, CROX, DVAX, ENTR, MAIL.
Go for it!
so the dumb fucks on Fast Money I hear said yesterdays drop was the absolute start of a real dive in the market overall eh?
bunch of wankers, I hope they all shorted 50% of their accounts going into the bell yesterday.
“professionals” they call them….
Quite honestly, I can’t stand this rush of bearishness that has overtaken EVERYONE.
Everywhere you turn, that’s the sentiment.
This bitch runs up for another month. Then, CNBS talking heads will start spouting that this is a sign of a true, sustained recovery. And that’s when the avalanche of shorts and sellers will come out of the woodwork and rip their heads off.
Honestly, we rally til the end of the month. And the best part? Stupid ass zombie banks will lead the way!
Fly is right about it being over. My prediction was correct. I was mistaken as I looked at the stock market instead of the more important bond market. Take a look at LQD people. That shows a clear top on July 31. Be very careful here people. We are going to be lucky to be trading sideways.
Sorry, don’t buy it just yet.
There’s too many homo money managers that haven’t gotten even a piece of this recovery action.
you should update your handle.
try this…. July 30, 2010 as your new handle?
July, not for nothing but you kept us in suspense all last month as to why you thought the market was heading lower, or rather to be perfectly exact why it was going to crash on July 30.
Finally you told us… that there was a “good” Jewish holiday to a “bad” Jewish holiday that marked the up move and culminate in a final crash on July 30th. Fair enough I’ve heard worse.
Seeing that didn’ t work out I’m wondering if you’re using the Christian, Muslim or Hindu calender now.
The problem with this is that there is a Jewish holiday just about every day of the week and sometimes two or three on a single day.
Some ae good and some are bad. Plenty for all.
FLY—You don’t have to force people to take your advise. All you are saying is that you know how to bank coin, and you petty the bloggers here on your website, but in a way want to help them. You are a lone wolf but need us around you in order to keep you going. It keep you pratical and helps keep doing thhe basics that still work. You are a great mentor in some kind of sick way 🙂
1 bunch of banana’s to Sir Fly. : )
Snapini
Fly, what’s for lunch today?
Tongue on pumper nickle.
Sliced thin on a tortilla with some fresh cilantro,some fresh garlic, and a lime based mayo.
And don’t forget to cut and discard the tip of the tongue.
Surely you didn’t miss my bread pun, TC?
Got it.
Thought I would just throw a recipe out there.
Boredom here.
ENTR…. tick tock tick tock.
Is there a FAZ equivalent for China?
yeh its symbol is USA
touche
nice….
CROX new back to school CROCS
http://www.businesswire.com/portal/site/Crocs-New-Back-To-School-Styles/
CATM will go through $8 today
CATM Gaps Up and Keeps Going Higher
THE PARTY ISN’T OVER FOR HENRY FOOL.
but soon……
it’s early have another beer….