When I was younger, I used to work like a dog, forgoing the luxuries of lunch and afternoon walks. I was very frazzled back then, desperate to be successful, since I had no choice. Living with hardship does a lot for a person’s character. However, I’d never want to be subjected to the lowly living quarters of a basement apartment, located in the heart of Brooklyn, ever gain.
Many of you are spoiled rotten, effectively leaving you impotent to deal with adversity. Take stuff away from yourself; live like a hobo. If your Mommy and your Daddy have a trust fund set up for your comfort, don’t touch it. If you are already successful, but lack the motivation to work: enjoy life asshole. Everyone seems to be obsessed with making a gagillion dollars, but forget to live. When you are dead, buried under 6 feet of filthy dirt, your money will be spent by spoiled kids or corrupt charities.
If you are happy living modest, live modest. If you are the type that needs diamonds on your chalice, shoot for the stars fuckface. Shoot for the stars.
The point here: there comes a point when enough is enough, in life and the market. Don’t be a greedy fucker. Go eat a sandwich and chill the fuck out.
As for me, I put some cash to work, in reaction to today’s market rally. I am positively certain that today’s rally will sustain the lionshare of its gains. However, I am not so sure about tomorrow. Unless we get a 5-10% correction, “The Fly” will be trading light, with lots of cash on the sidelines.
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a nice corned beef and pastrami on rye with hot mustard please….
wow, this market loves to fuck with the shorts. That’s been obvious for months, but a two day combo like today and yesterday shows the ingenuity and creativity the bear torturers have.
Good point about being buried and forgetting to live.
A hearse doesn’t come equipped with ATM machines or stock quote machines.
Shrouds come in one size fits all (rich and poor).
You will be buried the way you came into this world. Wearing diapers.
Etc,etc,etc….
The concept of “enough” is difficult to grasp, if “more” was all you were ever trained to work for. But it will totally fuck your enjoyment of every good thing in life if you don’t figure it out.
Wise words, wiseguy.
I fianlly made it past the spam protector. Why doesn’t the Fly play a little C or AIG or GE ? Just a little in and out? The higher we go were – the bigger the potential fall in Sept.-Oct – right, Fly?
I own c
you and cramer own C…nice.
Amen, Fr. Fly. Words of wisdom ovah heah.
yesterday was a panic shake-out of weak holders. Hence, the lack of supply today.
sometimes when the market gets a little rough, it’s best not to run away and sell like a little pussy
the Tao of Monsieur Fly… I feel enlightened already
Fly,
What is the most important thing to look for in the company..I really want to learn the “Fly” way
growth/catalyst
well, isn’t AlphaDawg somewhere living large in the French Riviera or Spain right now? Didn’t he say fuck ya’ll about a month ago to set out on a 3 month vacation spending some of the 60% or so gains he already made first half of this year….hopefully right now he is “lost”, walking up and down a street in Amsterdam..
Or firmly planted in a cafe
“The Fed said it would gradually slow the pace of its program to buy $300 billion worth of Treasury securities so that it will shut down at the end of October, a month later than previously scheduled. It has bought $253 billion of the securities so far.”
It looks like money will continue to flow into the markets, newly minted/printed by your local Federal Reserve.
The Treasuries purchased by the Fed get credited into accounts of banks and they are not getting monetized at a threatening rate as noted by growing excess reserves.
How else then do you explain the inflows into the market when the outflows from money market funds have been 1/4 of the total inflow?
Please further explain your opinion of the money flow of these money market funds so I am clear what you are talking about. There are money market deposit accounts and money market mutual funds.
The endpoint of your argument however has flaws. You are assuming that 1/4 of money market fund holders, the safest possible investment, have done a complete 180 in the investment of their capital into the riskiest investment vehicle: stocks. I think you’re looking at the Fed like a single hose directed to a single plant where really it is a hose irrigating a whole field making sure almost all crops have water, and all do not grow too fast or too slow.
Get your share of the billions!
Fly your a workaholic coin banker……..Whats with all this Disneyland…Long Walks……LMAO
Go get some hot hot hot super hot coffee and worship the golden bull.
(good post fucker)+1
Hey cash n’ guns,
Have you ever seen the movie Unforgiven? I highly recommend it. It might just speak to your cowboy fantasies
spooky…havent seen it…you should watch it again tonight with your cat..gaytard..keep comments relevant to stocks..or pointing out bullshit…otherwise dont interact with me shitweasel
“your cat..gaytard”
fucking classic…
I laughed so hard I spit on my monitor….
How one manages to get through life without seeing Unforgiven I’ll never understand. Great movie.
“That’s right. I’ve killed women and children. I’ve killed just about everything that walks or crawled at one time or another. And I’m here to kill you, Little Bill, for what you did to Ned.”
Unforgiven is one of the five best movies of all time.
You will not be forgiven until you see it.
________
The comment had a stock/market component too it, but I guess I was being too subtle. My bad, I’ll keep it real clear from now on.
Seriously, man, it’s a great movie. It would be highly re-affirming of your manhood. Even my cat, gaytard, purrs whenever I put it on….
All cats are named “Gaytard.”
_______
rofl!
Nice job scoring Don Harrold, Monsieur Le Fly . 8)
You’re kidding, right?
“Scoring Don Harrold”???????
That guy isn’t good enough to run a 3-card Monte game on Staten Island, let alone being a named “guest” Blogger here.
MINUS 20 karma points. 🙁
Easy, Zen. Don’t be a hater.
Don was great on HeeHaw.
My bad.
I always forget Don’s Hee-Haw gig:
http://www.youtube.com/watch?v=MNOg-9YiEKU
Lol. It was great when he was calling cramer out. But Harrold’s act got old fast. Never saw him give much of a market analysis or stock pick, just endless teasers and hype for his subscription service.
Maybe Fly sees something of value there, even if it’s just HeeHaw comedy relief.
Speaking of sandwiches I just baked my own sourdough bread. I will be serving Wally and Beaver some grilled chicken sandwiches. I have finished slaughtering and processing the chicken myself.
I have also made a cheese ball to be served on the side and lime Jello for desert.
June, I didn’t know Mayfield had broadband. Do you twitter also?
Are you going to the Rutherfords picnic on Saturday?
movie suggestion (to everyone except Cash-n-Guns, i guess after reading his above comment):
You Can’t Take it With You. Frank Capra classic starring Jimmy Stewart, Jean Arthur and Lionel Barrymore. The Fly’s post echoes the movie’s message.
gunners…cmon..i mean relevant stock stuff, or interesting comments…just not pointless stupid babble..ala CNBC style…from retards no less..your always welcome to give me shit or make comments..like your real estate comments in the past.
i was just caught off guard because i read fly’s post and I immediately thought of a movie suggestion. then i look through the comments and you were telling someone to fuck off due to their movie suggestion. haha. my bad.
p.s. gonna write a post in the PG right now… my first in a long time. it will be a quick one, but i’ll try to get back into it more regularly
Never heard of broadband but I did type this on my Royal typewriter. Yes, we will be at the picnic. We hear that Beaver’s teacher Miss Canfield will be there which could be a problem since the rumor is that Fred Rutherford has been fooling around with her.
Still long BVX. Still making a killing while the rest of you try and make a dollar.
see you losers and winners monday….I’m gone…..
enjoy
http://www.tudou.com/programs/view/XH5W4vffBbY/
Saw it several weeks ago on zShare. I had read that for some reason he was getting the videos removed.
I don’t recall him reviewing any charts prior to his orders (except for the comparison between the ’20s and the 80’s). Kind of reminded me of the Fly trading.
I especially liked the part in the beginning when he was walking down the sidewalk with his B&W Quotrek. It’s the same one I had and still have in the bottom of my drawer.
In the event this gets taken down, I have this downloded from the last time it was on youtube.
this is the goods, @ 14:20 “don’t wait for the top tick”
That fucker cost us bonus money. He’s a complete dirt bad along with his other southern buddy, Louise Bacon (sic). Please, if you can help it never have him on the program in the morning my time as it puts me off the rest of the day
He’s a despicable prick.
j – what are you talking about?
J got deboned by the Memphis Marvel one time and he’s never forgiven him.
__________
sactly;
Moober, his firm would call for a two way price on say 100 Euros. Lie to us that it was the full amount and then go around hitting or taking other players at the same time and fucking us. We’d end up losing 100 G on a trade with that fucker but the sales desk could then say they dealt with Tudor Jones. Used to happen too many times.
his execution desk head was a prick by the name of Doug. I hope I see Doug at an airport one day as he won’t know what hit him.
He’s just a complete arsehole and his other buddy is just as much a pricks as he is.
You know what they do, right? They have separate firms doing the executions so they take a tick or two on each trade. At least that’s what they used to do unless the SEC stopped that.
What a fucking idiot thinking that the 30’s looked like the 80’s. hahahahahhahhaha No wonder the prick doesn’t want anyone to see the stupid thing.
I know. That dipshit Peter Boorish overlaying the 30s chart on the 80s one was comedic. Surfing Elliot Waves and Dow Theory, REALLY technical stuff over there. I’m willing to bet if he stuck with his statistics-backed theses over the years he’s gotten his ass handed to him.
The other part that showed his true colors was when he was talking to a broker and blatantly lying to the person and winking to the camera with a snide smile.
He used to shout drinks for traders in the late 80’s and early 90’s when I was there and went to a couple of drinks down town. I couldn’t stand it and only did so because of marketing reasons. He had the biggest load of sycophants working for him that you could ever imagine. You just wanted to vomit.
The prick better take all the ill gotten loot with him when he croaks it because he ain’t getting in without paying St. Peter a decent whack.
A couple more links here:
http://www.movshare.net/video/3wx4j5zx5urkt
http://www.zshare.net/video/7438370851539581/
Once again, an extremely important post from The Fly. He gets it. Not only does he get it… but, he is a Mets fan (like me)… !
I have raised cash. I will tread lightly and read his posts diligently.
Thanks, Fly!
Scott
A Mets fan…like Scott Sherman, and Jim Cramer. Coincidence?
Whats going on with the fins in ah? All just spike up hard.
According to the news on my screen John Paulson bought 2.7 billion $$ worth of stock as was reported by CNBC.
old news-bot back in May at 10.77…he is probably already selling
Another quality addition to internet time-wasters: http://probablybadnews.com/
I have the fortune to have Paul Tudor Jones’ father, John Paul Jones (yup, you know him as the guy who has the University of Virginia sports complex named after him) as a personal client of mine. Very humble man. The Fly seems to have learned from the likes of this man. This man has all he’ll ever need and could consider me nothing but a tool to keep his dog well, but humbly treats me as an equal. You’ll never meet a nicer man. Even The Fly couldn’t resist restraining himself from kicking a man of his caliber down a flight of steps.
My daughter graduated from UVA about five years ago so I never saw the arena but it looks pretty sweet on TV.
Those old South guys from Memphis are very pleasant to deal with (even as they take your money while trading).
Right. Always has a smile on his face. Comes in to see me with his driver who doesn’t speak unless spoken to. Always stands up to shake my hand; never lets me shake it while he’s sitting down. All around good guy.
john paul jones is entombed in a crypt at the Naval Academy in Annapolis.
Played mean bass for Led Zeppelin too.
Is it me or is the spam math getting harder?
Not the British one.
_____
For those who don’t like sandwiches, eat a taco.
Personally I hope this bailout bubble balloons big time over the next year. I’ve done enough accumulation since S&P 666.
Wow I had to cover my short I initiated on Monday on TOL. Fucker ripped my face off with this bullshit news that a bump up of contracts signed. That may be nice and all but where will the people get the loans to buy the houses. Most of Tolls houses are upper end and I just don’t see that many banks doing jumbo loans without serious money down and superior credit, and if they do the jumbo the rates have been a lot higher. I will see what happens tomorrow with the foreclosure numbers and wait to see how the stock moves and I may initiate another short position
T – Maybe you should get a nicer bear for your gravatar. It won’t hurt so much when it rips your face off.
ha!
Don’t use logic when attempting to analyze home builder share prices. Eventually they’re almost all going BK or low single digits but in the meantime will fuck up the shit of the shorts. In the Summer of 2007, people were buying long term puts on these guys (LT meaning late 2008, 09) figuring the HBs would have to be BK by then. Obviously all those bears got hosed. The HBs will also periodically have these rip the face off the shorts rallies.
I’ve been watching these guys for a couple of years and like you, I don’t believe the fundamentals support their share prices. But I also think everyone involved in trading HB shares know its possible to ignite squeezes. So when a squeeze gets started, everyone says “Here we go…” and gets on board. I wouldn’t call it “manipulation” but I think there is an implicit collusion among those playing the HBs to occasionally clear out the shorts.
My painful experience has also taught me the HBs can get squeezed much longer than anyone would think possible, well past the “No fucking way!!!” zone. So set stops and don’t be a hero trying to wait out the squeeze.
Fly,
I am a long time reader and i just wanted to say thanks for blogging. I find it weird sometimes that I’ll have a shitty day in general, and you’ll write some inspirational (in you own way) shite [sic] and it all makes sense. Anyways, im listening.
With all this news about Paulson taking big positions in banks (he made the trade around June 30th) it makes me wonder if he has something on the other side of these trades or if he is just diving into the banks head first. I don’t know if he is a short term or long term trader, but I do think there is more to the story than the simple fact that his filing said he bought big time positions in a number of banks. When you have as much money as he does you can certainly move the market and you can afford to be wrong every now and then. Chasing the big money after 13-f’s come out has looked to be a losing game to me as no one knows what is on the other side, and they could be out of the positions before the filing comes out. Of course you will have the chasers who watch too much TV and read too much bullshit news. I wonder what is going through his mind on these banks. I still think the system is broken and they are still lying bastards in my book. Doesn’t mean that the stocks don’t continue to move higher, but I do see a correction in the future especially in the financials.
Nervous bears staying up late to justify their positions. A good sign.
He had a 2M share position in SKF at the eoq 2.
I am holding mostly cash. i am still very bearish, but I also know when to take my ass kicking and sit on the sidelines for a while. I have had a few long trades that have done quite well for me during this rally, and have offset my losses in my shorts. I have held a big long position in HYG which has rewarded me nicely. I have also made some stellar trades in and out names like KLIC, TBT. I bought MEDX a long time ago at 4.30 thinking it was a take out target and thanks to BMY stepping to the plate I was able to sell out of a nice size position at 15.88.
I was short TOL until today when I had to cover like all the other shorts.
I am short WYNN from 59.07
i am short COF from 34.77
I own TBT and have for months now adding to it along the way. The govt. will have to settle for lower prices and high yields IMO.
I also own DUG which I got back into at 16.26. I have family in the oil industry and there has been quite a slow down.
I am looking to jump on SRS and FAZ in the next few days for a quick trade. I got stopped out those fuckers a few months ago
puny your name says it all. I am not nervous just looking at both sides here and am waiting for the coming correction.
dennis kneale made fun of the name too. you are both asshats.
Hey puny- i have yet to hear you put any of your holdings or trades on these boards. Why?
I’ve certainly posted about my trades plenty of times. Sorry I don’t post every one, because frankly, no one gives a shit. I am just a random commenter on a website where no one can verify my trades. Ultimately, my opinions are as useless as yours, because both of us can come and go as we please.
Children, please stop squabbling.
just out.
*
Today 00:00am EST/04:00am GMT
(U)S RealtyTrac July U.S. Foreclosure Activity: 360.2K (+7% m/m) – One in every 355 U.S. housing units received a foreclosure filing in July.
“July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity,” RealtyTrac CEO James J. Saccacio noted in a news release. “Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we’re seeing significant growth in both the initial notices of default and in the bank repossessions.
check out this video I made of my company at the Rifle Range last year:
http://www.youtube.com/watch?v=kLRQyldgk4o
Pretty cool stuff, Hammy. Thanks for sharing.
Did you password protect your blog?
thanks for the encouragement, MOOBer, and the reminder to open the blog up.
anyways, I’m just glad I can post that kind of stuff on Fly’s website. Thanks Mr. Fly!
That’s some passionate video work… shows some talent!
________
Yeah, nice work, Hammy.
(A little surprised that they let you just video the proceedings…or are you some sort of official videographer for the company?)
Excellent video works.
I want Hammy and his friends on my side when Fly starts his gang.
there’s a good amount of “down time” on the range,
brought my canon point-and-shoot and just filmed stuff whenever I got bored
Were I bearish (I’m really not), the one thing that would give me the late night tremors is the chart of AA.
Here we have the biggest dog of the Dow, looking like it’s about to shoot through a whole bunch of very light resistance.
Look at it, and be honest.
It ‘s not even $13 and yet it can get to $24 in two shakes of a lamb’s tail, to use the most bedrock cliche.. That’s almost double from here. And the S&P chart looks very similar.
_______________
Yep. Been watching it too
I mentioned the aluminum ramp to you last week (or two weeks ago?). John “The Tin Man” McCain wants new parts for his body, and they’re getting more expensive.
Copper is the new gold, and aluminum is the new silver.
About The PPT (subs only)
http://ppt.ibankcoin.com/?p=1726
all I have to say is…
i’m glad I’m a member of the PPT… wow.
geez, no need to be disingenuous.
sorry, i guess my last comment came out a little corny and may have unintentionally come across as disingenuous.
i’ve been a member of the PPT since its start, and have loved the community. it has a section that’s sortof like stocktwits (except it’s filled with smart, successful people) posting about trades and market conditions in real-time.
that, though only one part of the PPT subscription, has been very useful to me.
ug. 13 (Bloomberg) — The German and French economies unexpectedly grew in the second quarter as consumer and government spending rose, bringing an end to their worst recessions since World War II.
Gross domestic product rose a seasonally adjusted 0.3 percent from the first quarter in both countries, their statistics offices in Wiesbaden and Paris said. Economists predicted contractions of 0.2 percent in Germany and 0.3 percent in France, Bloomberg News surveys showed. The euro climbed more than half a cent to $1.4271.
The resumption of growth in the euro region’s two largest economies makes it unlikely the European Central Bank will add to its stimulus measures. Global measures to revive growth have boosted demand for European exports, while government subsidies and lower interest rates are supporting spending at home. With unemployment rising, the recovery may be slow.
you see that? Art Cashin is getting on board with my religious holiday predictions. He suggested that the beginning of Ramadan could effect the market. I, however, am training my eyes on September 19. Which happens to be both Rosh Hashana, the end of Ramadan, and the day after opex. That is the next important holiday. By then, you will realize that the bond market rolled over on July 31, which equates to the 10th of Av on the Jewish calendar.
30,
I disagree. I think the high will be hit on Dec 24th and the low on good friday on 2010. Now that’s a high and low if there ever was one.
That’s cool. Good luck with that prediction. Time will tell.
Market seems quiet. Is this the calm before the storm?
Read somewhere that Paulson’s BAC position was the result of trying to cover a short position in FAZ and therefore unlike devildog avoid eating a shit sandwich.
interesting….makes sense actually-thanks
Wal-Mart and McDonalds kicking Ass! Is this a great Country or what?
lol
Watching SMH.
NSM,INTC,TXN,ADI all up on this decline and AMAT is trying to go positive.
Done for the AM.
Thanks SMH.
Time to buy FAZ and SRS on weakness. I am waiting for the treasury auction later this afternoon. I think there are signs that this bubble is starting to crack, and any strength in the overall market should be shorted.
BIG volume coming into AMD.
Stock should sprint back to 4 in short order.
I hope you’re right TC. But I’m starting to get a funny feeling about this market. The thought of lightening up crossed my mind several times this morning. It’s been a nice run. Maybe it’s time to take a break.
So how many think Paulson is selling some of these bank stocks to the amateurs who are now buying on the old news?
I know I do.
It’s the Wall Street way.
Absotively – That was my first reaction to the news. I’m seeing a little too much greedy action, or fear of missing out action. What ever happened to armageddon?
Example EGO – A few weeks ago people were pitching it out like it had cooties. Now Cramer or someone mentions it and it’s (was) up almost a buck.
Forget about EGO, look at PAAS. The Jacksons are stampeding the British irregulars into the Gulf today.
________
Leveraged ETFs going the way of Sub-Prime paper.
They have been Michael Vicked by all the brokers.
Forgot to add.
Caddyshack is on now on The Golf Channel.
Divergence going on between the smaller banks (See KRE etf) and the larger ones.
KRE has been down all AM.
KBW etf with larger regionals than KRE etf isn’t exactly burning it up here. It’s still down to unchanged.
Careful out there (with those Paulson banks).
Hint
Charts don’t mean jack.
Armageddon is still on the way, just taking the slow boat from China.
All this chatter about Paulson and ETF’s and sandwiches is making the bear hungry.
The bear is just biding his time, allowing the bull to get all fat and tasty before he eats him.
Consumer activity sucks. Unemployment is WAY higher than the gubmint says. Joe 6-pak has no money and he is the guy that needs to be in the game to pull the economy out of the pit. I’m calling 7-10 years of junk happening .
You heard it here first, straight from the trenches .
Told ya bout MAIL yesterday! Or was that the PPT sub’s I told?
I’m still convinced CSIQ runs into the 20’s.
Im blowing out of UYG right now…..
CYTK looks like long base @ under 3 could give way to a nice move.
in for a bit more @ 2.99