I know most of you trade like ADD addled pansies hopped up on energy soda; but “The Fly” does not cater to you. He will not up the frequency of his trades just to placate the cigar wielding OTB guy who scours this site for ideas.
Early last week, I warned you to raise cash, yet you did nothing.
“The Fly” is playing this dip by not playing it. I have close to a 50% cash position and could care less what the market does today. I will not initiate any short sales out of pure unadulterated fear that the Goldman tradebots will cut my balls off.
As for my current positions:
At the moment, I am comfortable riding out this storm, in exchange for a sandwich or two.
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Zombie Is God
This feels more like a SNIP than a DIP.
This market’s coming down but it’ll take more than a 2% gap down to trigger the avalanche. Plenty of idiot “dip buyers” still running on hope/greed. We’ll finish off the lows, probably start higher tomorrow, and see another few flat/mildly down days before the real shit show starts.
The Shangai vs S&P chart posted at Calculated Risk this morning bodes of Ragnarok, Part 2.
http://4.bp.blogspot.com/_pMscxxELHEg/SolxZOoss8I/AAAAAAAAGHQ/9_cCjYTO83U/s1600/ShanghaiAug16.jpg
Dude, they have only started creating imbalances and have a hep of cash with savings as high as 30%. Don’t waste time betting on a China crash.
There’s ample liquidity for the place to keep on motoring along at full speed.
Here’s my thinking … the signal to look out for is when real estate becomes exorbitantly expensive in the big cities there like it did in japan and they think they’re the new super power in the block.
The chart they’re showing there just shows the rise and fall of the decade. The global equity market fell over the past two years so the suggestion of high correlation is misleading for future movements.
If people are thinking that China is going to take it up the rear end, it will but when you least expect it and their imbalances could last for donkey’s ages like Japan. Japan overheating lasted for most of the 80’s and they had PE’s of 65 for years before the place was solidly trounced.
Don’t waste time and money betting on a China debacle soon as it may not happen and could be years away. The secret is that their economy has nowhere near the level of leverage yet for the worm to turn. Not suggesting it can’t happen of course but I wouldn’t bet the ranch yet.
That market will crash when people least expect it to.
When it looks like China may be going into the shitter that is when they come out with some bullshit numbers to calm the sheeple who believe the shit that comes out of their mouth.
With the amount of shit people type in these comments I can’t believe more of you haven’t just opened an account in the PG.
LOL
Out SMH for a .05 loss.
Certainly not a Spitzer in and out (although INTC could be a good trade this PM).
The trade this AM needed Spitzer Viagra.
50% cash sounds wise.
I am adding to long term investments as the market focuses on the next week and sees doom.
I don’t buy the “markets” I buy good stocks — let’s see, like HUM.
Still making money long while the Fazztards jerk off on themselves.
FAZ..up 9 percent today…
That pays for a lot losing days being short
Covered the BHI short for a little over 4% gain, not including the other 4% I scalped last week. I mostly covered because BHI has had a marvelous run down. I’m holding the NOV and MON positions, and may increase the short stakes in either on a good sized bounce.
AAPL…getting crushed…made enough today on this one to buy a few Mac Air books…!!
This is “healthy” and good for you – like spinach.Those commods must be becoming real PPT bargains today, no?
Where is The Gapster?
I’m still looking for da_bears to congratulate him.
I decided to jump back on this market at the right time I must say. Not that anyone would listen to me, but if you followed my trades that I posted last week and the week before you would be sitting on big coin right now.
Happy trading. Let’s see if the dip buyers come in and save the day. For me, I like watching the SPY puts that I bought race up.
You are such a fucking genius.
Maybe the Fly will give you that blog and headline access now.
No genius here. I just like sharing my thoughts. I admit when I am wrong and take my ass kickings.
So FUCK OFF TA
Don’t be like that. Everyone will want to read about how you perfectly time the market after the fact.
Sup,
I followed you into HBAN and now, just like FTK, I am bleeding from it! I know the majority of the time you are right and have more market savvy then anyone else out there but it just suks that the two trades I piggy backed on are big losers! Odd no?
Bet smaller and stop crying, especially if you blindly follow someone. SHEESH
The Fly warns people from following him on every trade.For all you know he is just paper trading.
Hey I took your advice. Went from being 7% of portfolio into margin 2 weeks ago, to over 50% cash as of today. Some of us do listen.
HBAN! Ha Ha Ha!
I will say that I missed the rally in financials because I would not touch them even with punyandy’s puny dick
Will I need a 12 step group, if I admit to nibbling on some SKS here, before tomorrow’s earnings?
It is hitting new lows? (d)UNG. Nothing can save it – hurricanes named “Bob” or anything else.
hban is sucking wood today
More like Bamboo.
Zing!
JSDA bottomed @ .80 get in and ride the wave back over a buck.
sold my SMTC for a small loss cause I feel like it. I’ll look to buy back lower, and later.
Just bought more MAIL 7.69