Damn this circus. I sold out of Sterling Financial Corporation [[STSA]] and American Capital Ltd. [[ACAS]] . Surprisingly, I find myself without emotion, despite getting poleaxed in the aforementioned names. This market is beginning to annoy me. It’s like a little dog, gnawing at my shoes. I will kick that dog into an electric wired fence, should it try to bite my balls off. If some of you dog lovers took offense to that comment, offer up your balls to some random pitbull’s jaws.
The market is just snapping at people, from the long and short side. Candidly, Le Fly is all about not giving a fuck.
Pardon the thin summer commentary, good people of the internet. I have been partaking in numerous personal, life altering events, which—unequivocally—keep me busy. No worries, sometime soon, I will be back to trading like a coked out surgeon, in the middle of a war stricken area.
Top picks: refiners.
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Wow despite having a pretty good long bias I was down a good amount today with no major standouts. Something is not right out there, I can feel it. Like I am currently being propped up while the rifleman starts pacing backwards. I guess we will see what comes of this but things just don’t seem right in the market at all. With consumer confidence up oil should rocket yet it implodes. Hmmm….
I was 98% cash last Monday, then bought in until I’m now 60% cash. I got blowed the fuck up today and no real reason why other than “shit happens”. Time to do some re-evaluatin’… got way too much booty stankin’, fucktarded, shite in my account at the moment.
Treasury auctions… get used to it. Lots of supply holding us back, and making the stock market nervous. When 1:00 PM Thursday comes and the auctions are done we will have a better idea of what’s next.
Fly: Please warn us before you sell FTK, so we can get the heck out of there before it gets suplexed into oblivion.
Doctor! Doctor!
A pitbull just bit my balls!
Can you help me!
Fly,
Several things..you refer to balls, you know Henry lost his last week, so boom he’s pissed…Second Kaiser the Dog is not to big on getting kicked to the fence, particularly after seeing the goat video last week, and if it is Steve the Neighbor’s dog to which you refer to a little, Kaiser has a thing for her.
Seems like the market is almost wanting to suck in shorts for a crecendo blow off top, the Fuckery is still present only somewhat obscured behind the glass of not drastic bad news.
Didn’t like the action today either so I did some more selling …. now 75% cash, 10% short and balance small swing trades.
OEW is giving a warning here too:
“After yesterday’s low at SPX 1022 the market rallied to a new uptrend high today at SPX 1038. This meets the minimum requirements for the scenario posted over the weekend, and a potential uptrend Primary wave B top. The market was immediately turned away from the high, sold off some, and then was choppy while moving slightly lower for the rest of the day. In order to keep the momentum moving to the downside the SPX needs to break through the OEW 1018 pivot next. Then break through the OEW 990 pivot after that. Remember, should the SPX rally to 1049 it would have broken through the OEW 1041 pivot and will then likely move higher.”
Yes, I am in love with Steve The Neighbor’s poodle. As for Fly I won’t go after his balls as they don’t taste too good.
Speaking of taste, don’t forget to pick me up a nice T-Bone for dinner Master.
Fly getting married?
Fly is married.
Happily.
________
I am with you on the refiners. (TSO) and (WNR) are my top picks… WNR more due to other factors than fundies, but it is primed for a rip to 9.00 on momo alone.
(IVN) top gold and copper play….news today….mine is a go.
Anyone here give half a shit for the Canadian lake that is a ‘go’ (as in gone) with it?
Fook, nm. The Claret has the better of me.
Was thinking of TGB.
<> Well, that didn’t help…
I still don’t get why the Fly won’t sell FTK
Where’s the catalyst for upside?
Don’t you mean pesky… not pesty?
‘Pesty’, although awkward at first read, is a valid adjective from ‘pest’. Thus, pesty = annoying.
Though ‘pesky’, with a very similar meaning, is the one used more often…
I, for one, applaud the choice for the headline.
ACAS is (WAS) a dividend whore.
http://www.americancapital.com/investor_relations/dividends/dividends.html
Not that whores are bad.
The tropical wave is beginning to form. Hurricane(s) coming next?
Hey, Fly, it looks like you might get your wish! Check it out:
http://www.nhc.noaa.gov/gtwo_atl.shtml
Many say the market’s a tasty desert right now… but it feels sort of creepy to us.
Can’t point to any one thing, so maybe it’s inhaling mold spores from bad Chinese Sheetrock polluting the 24 floor trading room of the World Headqarters of The Fabian Group-
LLC
Three of our traders passed out 2 hrs ago. At first we weren’t concerned as they are a hard drinking bunch…now we’re starting to wonder.
Fabian
Posted by: fabian Date: Tuesday, August 25, 2009 5:04:13 PM
In reply to: greenehugh who wrote msg# 630674 Post # of 630690
OT greenie, No not serious on China drywall. We love China and would never cast aspersions on them or what they do…even if the toys we buy through WallieWorld break in a day and our horses wheeze from China Drywall in their stables.
We’re entering our best two in the Preakness next year:
Ying
and
Yang
and will be going with our new wife
Yowee, a 28 year old model,
Mrs Fabian says:
“Over your dead body”.
“1 800 LAWYERS”
Fabian
Sigh…
“issues”…always issues
Pesky market… Indeud
Homebuilders are in for a fall. IMO
TOL will be the the biggest beating. The high end market financing aka Jumbo loans are a mess a complete mess. Tight credit, higher unemployment, incomes remain flat. Where is the catalyst to move them higher? Increase in contracts? that did move the stock a week or so ago. but it came back down after the inital squeeze.
I added to my short position in TOL today. I will keep a tight eye on it, but so far my stragey shorting this one on pops has worked over the last few weeks.
I don’t believe any of the housing data that spews out, None. I have been traveling a bit lately and Inventory is very high from what I see. Especially in the upper end of the market
Agree 100%. No amount of fist-pumping, ra-ra-ing is going to revive housing (overall) anytime soon.
what do both you idiots have to say today?
How about a long DTO / long UNG combo? The spread has to come in sooner or later, why not now with oil showing weakness and UNG at new lows?
What was up the 10 A.M. spike down? Did somebody cut the power in the collocation server room?
Spike down=fear=volatility…..the pump up is managers (and yahoo wanna-be daytraders watching Cramer) that have to buy.
As The Fly said, sectors are weakening, and it doesn’t feel good.
Once again I say that Cramer is wrong and a dumbass. He is going to get mom and pop investor slaughtered. Thats right jump into the banks after this incredible run, jump in the home builders and keep believing that inventory is shrinking fast. I don’t see it. Get on your local REMAX website and see the number of homes for sale it is crazy in my area, just crazy how many are for sale in a 2 square mile area. When even the creator of the Case Shiller bullshit index is bearish? Wow
Cramer says he called the housing bottom I call bullshit
Jim Cramer is a douche-bag! How many people, dumb people, got crushed with this wisdom?
“Bears Sterns is not in trouble…Bear Sterns is fine!”
Cramer IS Bullshit…he is a scumbag of epic proportions…truth is..he made his hedge fund money by front running orders from a source he had..and thats no bullshit…fuck him forever..flaming dickweed.
I can’t believe Cramer is still on TV….Cramer’s flagrant misleading advice is mirrored with CNBCs. They are a perfect match.
Anyone else here think Artsy has the best gravatar?
I agree on the avatar. Brilliant simplicity.
“Market is a tasty desert?”
Sure is! Bite into that juicy steak. Shit– why is my mouth full of sand?
This, believe it or not, is the second time this has happened in the last month.
http://tinyurl.com/lugcsx
Market about to get the same treatment?
Yeah it’s about to get interesting again. One way or another the market is going to start screwing the masses, who are more on board this rally from March than most pundits seem to realize. At least from what I have seen this summer. I started to change my positions around last Friday, selling off longs and looking to get short where it seems feasible. We could definitely run up to new highs, so I’m in no rush to go balls out short yet, but I think we are getting close.
As for the rest of this week, the treasury is going to be soaking up money like a sponge. Indirect bids on the auction today were somewhat scanty, so if that is any indication of what the week has in store, then the primary dealers are gonna have to step up to the plate and feed the monster all by themselves. Like I said, it’s getting interesting.
It hasn’t been interesting?
I have had a nice run in RDN the past week from a recommendation on the PPT. Any thoughts on an upside target? I am a swing trader, rather than day trader, due to working full time.
We have a little pop in housing numbers…woohoo
Only because all the bank owned properties, and short sales are up slightly. Add in the effect of first-time home buyers rushing to beat the December 1st deadline to get the $8k tax credit.
Things are rotten in housing and commercial RE.
As usual, the government is manipulating the stats with impunity.
I heard that the president just changed white house long-term debt estimates from $7 to 9 TRILLION?! Hello? That’s an extra two t-r-i-l-l-i-o-n!
No jobs, brother. No real home buyers, either. People are scared. People are pissed off. It seems pretty clear that people aren’t buying it, either.
Face it, the economy is in the gutter, and they are calling it a “recovery”.
I say total bullshit.
The stock market is the ultimate grand illusion…….a massive ROYAL SCAM…..a scam on the highest of high orders.
Just get ready for a ROYAL FLUSH, as the market “prices in” the real earnings future!
Of All Time – http://www.youtube.com/watch?v=3Fjnk3fgZ60
Fellas;
keep you eye on the Fed and global liquidity and always remember that stocks are valued in nominal terms against eventually worthless paper money.
The $100 tomato will eventually be real enough and the 200,000 annual median earnings will be too… in nominal terms.
In other words the dollar will be the new peso.
Ted Kennedy has died. See Drudge, etc…
Ed Kennedy. Woops…
Teddy that POS should have died in that car crash years ago…fuck his whole scum family.
Yea.. Cash Let’s remember Mary Jo K on the day he died as it’s the right thing to do. (You could always blame Goldman Sachs for her death).
GS gets a pass on that one…thats 100% Kennedy clan bullshit.
Knight Watchman.
As we all know, consumers are 70% of the economy, and their confidence is core to their spending. This morning, the latest consumer confidence figures came out, and they didn’t just beat the high end of the consensus – – they knocked them out of the park.
So far so good. At this stage Tim hasn’t set a foot wrong.
Naturally, the markets shot higher, but the euphoria from this extremely bullish news lasted about as long as Susan Boyle’s worldwide popularity. (Oh, and not to get all socionomic on you, but it’s interesting to me her “feel good” story happened right when the countertrend rally was gaining steam).
Now it goes down hill. Tim’s now correlating the rise and fall of Susan Boyle’s singing career with stocks suggesting that her popularity coincided with the beginning of the rally. This is about the stupidest thing he’s ever said and that’s saying something. In fact it will go in the annals of stupid.
I would also point out that the Case-Schiller report, released before the open, likewise provided good bull fodder.
And where did we wind up on all this positive news? Hmmm. Not too impressive.
Okay, there’s a grain of truth to the fact that it wasn’t too impressive. However the question then is, it enough to go short on? Perhaps with Tim’s money but not my own.
My overall portfolio slipped 0.21% today, which isn’t too painful at all.
Okay. With 100 positions I guess he;’s replicating alpha.
The first couple days this week have been quiet, but the remainder have one big report before the market opens each day. Durable Goods on Wednesday, GDP on Thursday, and Personal Income/Outlays on Friday.
I’ve been at it since 4:30 this morning, so I think I’m going to cool it for a while.
I think he should too. After the Susan Boyle/ Market rally match up I reckon he needs a week in bed.
By the way, when she was at the height of her popularity he was gushing over her like a gay man in a rump roast processing plant (I have no idea if that even makes sense). Next he’s going to start posting on her looks which is ironic since he looks like 200 pounds of slightly chewed bubble gum (stop blogging and hit the gym dude).
The guy has no clue how to read economic or earnings data, he’s constantly surprised. The problem is (actually one of many) he blogs more when he has less to say, he starts trying to be funny and creative when he is neither. Kind of like that creepy uncle that keeps telling you jokes that are inappropriate or just not funny.
It’s going to be interesting how he spins the 45 points down open if it closes up this afternoon. Susan Boyle won’t be able to help on this one. LOL.
HGSI
Henry wins again!
Nice call Henry, I am sorry I wasn’t around yesterday to participate. What is your take on DVAX. Still consolidating?
Yeah but timing a DVAX is hard you don’t want to wait too long to get in. Keep it small enough to work but not destroy you should they get bad news. And you need to have patience and maybe move nowhere for weeks. I have a 10% position
Done for now.
Thanks SMH.
Why do you always tell us when you’re done? do you want a cookie? it’s really obnoxious.
What’s obnoxious about it? I like it.
chivos a fag!
Looks like Cramer’s call on homies got the amateurs in at the open and now the sharks are eating them.
We’ll see what the housing numbers are at 10:00AM and if they are good I wouldn’t be surprised by a spike up for homies followed by a drop.
ALU in play today – Fly why did you ever sell this bad boy?
No chance. The Chicoms would never be allowed to buy it.
I can not believe I sold HGSI at $2.65 about a month ago. Someone please punch me in the balls.
duh…