The biggest turds, in all the world, are running with their socks off today. Names like American International Group, Inc. [[AIG]] , Citigroup Inc. [[C]] and Fannie Mae [[FNM]] make me sick; but some people think there is “value” trapped inside of those criminal organizations. Believe you me, I would like to see the market rally, just like a coked out Kudlow. But, those motherfuckers should be bankrupt. I mean, AIG lost about 200 billion, over the last year right? ROFL. Fuck me running sideways.
“The Fly” is really not much fun for you internet leeches these days, especially since my trading activities have slowed with the summer malaise. Don’t worry, soon enough, I will be back to throwing old men into garbage trucks, while exclaiming “touchdown” in a very mentally disturbed manner.
The good folks from CNBC are perplexed by the market, in general. They look at the tape and just sort of scratch their brains, hoping for a clue.
I suspect, over the next hour or two, I will buy a few names, in an effort to spend my cash. I have so much cash on the sidelines, I should be on CNBC talking about it.
So, in summary, trading poolside is always a good idea, especially when you have money. If you, for some odd reason, find yourself without money, then you might want to focus on your job. Words to live by and kill for!
Talk to you fuckers later.
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Love you…. love your show
Fly i know the trend is up right now, but I am starting to see signs of deja vu from last year:
spreads are starting to widen significantly from a couple of weeks ago…junk bonds look toppy…cds 25 bps from its lows…china starting to hiccup…copper off its highs and having trouble going bid…baltic dry index continues to plummet…treasuries have strong bid even in big rally yesterday
the bond market does not agree with the equity market and 9/10 the bond market is right…
also just as you are pointing out look at the crap rising to the top…
Dan
When in doubt, raise cash. I am not saying to be all in here. But, I can’t short stocks, when the market keeps defying gravity.
I am poolside right now.
Another leak in one of my solar panels (15 year warranty so I am okay) so I put the pool equipment on to bypass the solar. Not that I will need them until November.
I will never buy solar panels again and put them on a rack on the roof.
i am heavy cash…when correlations are 1, things don’t end well
i do think it is a good time to be leggin into shorts
Don’t try and pick tops here.
People keep screaming that the market can’t go higher but the run as only been so massive because the downdraft was so brutal. We’re still a long way off the high.
Respect the golden cross – it has a better history than any other indicator out there.
When the market really turns there will be plenty of time to run to your shorts.
…while exclaiming “touchdown” in a very mentally disturbed manner.
LOL!
http://www.youtube.com/watch?v=-azgWTq3_dU
That’s what happened to Henry yesterday.
(Cept the doc kept the nuts in the end.)
_____
Number 72 on the sidelines thought it was pretty funny.
He looked like Shaq.
Ahhh, that was Kerwin Bell when he played in the Canuckistan Football League. I think he had a cup of tea in the NFL as well. Terrible QB.
So many comic gold moments in that video…
1. Lead team down the field on a scoring drive – CHECK
2. Score the TD yourself to get your team back in the game – CHECK
3. Taunt opposition defense by spiking the ball – CHECK
4. Get nailed in the nuts by the bounce – Priceless
5. Get clocked by the defender you were taunting – Doubly priceless
6. Get made fun of by your own teammates on the sideline – Triply priceless
7. Get flagged for “excessive celebration” while your “move” gets replayed on the jumbotron – The ULTIMATE priceless
Two points about this market.
With the way Asia went down this week the US market in another time and place like back in March would have been arse raped. Surprisingly the US market, which in terms of economic back drop being the riskiest has been the stabilizing influence. That puts us in an entirely different swing in that the risk is therefore upwards.
I read some anecdotal evidence that apartments in Miami are selling like hot cakes and in fact there are very few left in that market. It may mean that these new buyers eventually get reamed too, but at 50% discount it’s not that bad a bet.
However they may be another example that the housing market is perhaps seeing some light at the end of the tunnel.
The risk is therefore to the upside.
I hear you on that Miami thing.
LOTS of action in Brickell, some in SOBO, a little in NOBE (location, location, location). That, from a realtor friend of mine. He sells primarily to Europeans looking for investment properties. Typical plan is to buy, rent it for 2-3 years, then sell it after the price explodes again (really?).
They have a distinct advantage with FX right now (on the buy side) not so much on the rent collection side.
I just have to wonder – who is going to rent them (were talking 20k units) and who will be paying 50-100% (the number he hears) more in 2-3 years when all of these investors put them back on the market (banks ain’t going to go for that shit again). Granted, NOT all units going as investments but this guy says he can’t keep up with foreign inquiries and has had little or no local interest.
BTW – I do agree the risk is to the upside…..
Fly- you SHOULD go on CNBC; it would triple the entertainment, not to mention the total IQ of the network!
The Fly’s CNBC show could be called: “The Real Buzz”.
Is anyone aware that lady gaga has a penis AND a vagina? This is a lady gaga market indeed. Not indeud.
Fly,
Your Mets seem to like Citi too.
New York Mets, Citi and Habitat-NYC Volunteers to Build Affordable Homes in Brooklyn and Queens
Aug 20, 2009 05:01:00 (ET)
NEW YORK, Aug 20, 2009 (BUSINESS WIRE) — –Two-Day Initiative Honors President Obama’s United We Serve Volunteer Program
*takingprofit likes this* facebook style!