No one wants a boring economy. While some of you coffin stuffers jerk off to the unemployment line, Ben Bernanke is “slap-chopping” the economy back into shape. Forget about your regular run of the mill economy, sans the pickle and ham. With the new “slap-chop” economy, we are readying to “enjoy” the splendour [sic] of run-away, “burn your fucking house down for heat” variety of inflation.
Think about it.
Once world growth returns, spearheaded by the sweat-shop masters in the East, oil is going to pop your head off. For fucks sake, oil is $70 now, while the economy sucks dick. Once it quits being a homo, oil is going to rocket to $200+, sending your bullshit car to the parking spot, permanently. Keep in mind, despite $70 crude, the land based exploration market is dead. Rigs are stacked to the moon, much to the annoyance of asshole companies like Flotek Industries, Inc. [[FTK]] . It is a subject worth discussing, over several bottles of high grade Scotch: why the fuck is the land based exploration market sucking so much dick?
Look, the market is supposed to retrace and you are expected to give back gains, following an epic run. My bet, the economy will continue to improve—into the holiday season, thus sending all of the new short sellers into foreclosure proceedings by mid 2010.
Into this weakness, my top picks will be: Starent Networks Corp. [[STAR]] , Sonus Networks, Inc. [[SONS]] , Tesoro Corporation [[TSO]] and Corning Incorporated [[GLW]] (thinking of buying it back tomorrow).
UPDATE: Danny does video.
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You would add to or initiate a position in STAR at this point? Damn thing is freaky crazy. PPT is spot on in the rankings it gives it. No love… but you seem to have reasons for liking it despite just buy and sell signals. The play hasn’t paned out for me in the past but I’m always looking for an opportunity.
STAR IS the play on 4g. While I respect the mathematical precision offered by The PPT, it is a thesis play for me, which trumps all other opinions.
i dont know much about oil…but i didnt like paying $4.75 a gal for diesel…
guess i might get into the green fazmobile in the morning as a hedge for my fasmobile what a combination …
Fly, I see you are following your advertiser’s suggestions by cleaning up your potty mouth.
Cheers!
Fly, when are you getting an iphone 3GS to help create demand the STAR needs to shoot higher.
Fuck the Mets,
T
I have an iphone and a blackberry. I am an economy booster.
i thought you said only homos have iphones? does mrs fly know your secret?
t
Mrs. Fly insisted on it.
It’s so sleek you see.
The funniest sight in the world is watching the large bourbon drinking human (“LBDH”) absorbed in his i-Phone.
It’s like watching my three year old covetously cosseting a tic-tac.
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Please don’t tease the homos with fake iPhone ownership
I can vouch.
In fact, it’s the Crackberry I haven’t seen.
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yo fly help me out i am getting my dick chopped off on this fucking UNG bottom pick from yesterday….should i just blow out b4 it goes to zero or what? I’m supposed to be on vacation for fuck’s sake why am i getting ass-slammed on this thing?
UNG is a conundrum.
perplexing isn’t it?
God should kill all inventors of ETF’s
yo i’m with that but what do i do about this 6k of ung i am holding while supposed to be on vaca? im gonna blow the fuck out tomorrow. fuck this shit, id rather go spend the next 50 cents of loss (after the 50 cent gap down tomorrow that i will probably take) on a bottle of cris and 5 peking ducks at phillipe at lily pond.
Just whip out a quick tune on the 12-string.
Make you mellow out a bit.
If that doesn’t work, try the local brand of hashish.
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Lots of capitulation going on in UNG today, people blowing it out right left and center. It even dropped another 1.5% AH.
Nat Gas itself isn’t more than a few weeks from a turn but UNG is really broken. You’d be better off playing something like CHK on it.
don’t fight the tape
short nat gas – wait for it to get to the top of the channel – and go long crude – wait for entries at $68 and add if it approaches $65
hmmm unless BP’s huge oil discovery can get up and running…maybe oil stays down…
It’s very expensive oil though. The drilling depth was a record and that shit isn’t cheap.
Oh please. BP’s discovery has dickola to do with oil prices. It’s at least 10 years away. And in 10 years, we will be finding oil reserves with frickin lasers. Cute, yes. Groundbreaking, no.
We won’t need to burn down our homes thanks to the inflation-proof nature of Natural Gas.
That nature is called “supply.”
Shit, they found enough of it last year in Louisiana that RC could crack the tarp on his parking lot and warm his gym for the next half-decade.
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Greetings Fly, you yesterday mentioned you would like to stay the fuck away from GLW. But today you seemed to have a gained a liking for it. Apart from the renewed crush on Vince, what you say changed over the course of 24 hours …
Respect,
Polar Bear
I took another look.
yesterday he was scaring you so he can buy, now he needs to pump it so he can sell
What’s important to understand here is that there would still be a market for crude if it went to $300. Raekwon for prez!!!
Recessions are boring, but dollar breakdowns and their ancillary wins are fun.
I ask you, after a day like today What the hell more can I do?
Basta.
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Re the economy continuing to get better:
As much as I enjoy reading Fly’s narcissistic rants and opinions, once in a while (read: often) I like to take a gander at blogs that post actual (albeit selective) facts. Calculated Risk, for example, is a good one if you’re in the mood for reality. The economy, as it turns out, is on the verge of doubléing itself — that’s “doublé”, not “double” — French for when you puke and shit yourself at the same time… something about foreclosures and consumer bankruptcies. Honestly not worth reading in detail considering the lack of self-congratulatory tirades and a total lack of profanity. Suffice it to say though that according to these totally boring and non-entertaining facts, outside of our faith-based stock market, things will almost certainly get somewhat worse before they get better.
There’s tons of that crap on the Internet. Seeking Alpha especially is full of ‘top 10’ idiotic writers and commentators who have all the facts and figures but can’t make a penny.
To quote the Fly, “the data is whore”
Andy Swan said it best when he said “Bears are right and poor, bulls are wrong and rich. So…,What’s new?”
The day I stopped thinking and opened my fucking eyes was the day I started making real money.
Eggsactly. Maybe Coo-coo-kachoo (god bless you) can go visit the Eggman, Tim Knight for more edifying wrongness.
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DID SOMEONE SAY COO-COO-KACHAA?!
TA – Agreed. The only thing that matters is your P/L. If it’s going higher you’re right, if it’s going lower you’re wrong. Nothing else matters.
The stock market is greed and fear only loosely connected to the business cycle. The day that CR starts posting specific trading ideas that show he/she has a record of making money by econometric-based trading is the day CR becomes the blog I read the most. Until then and because of the veracity of the first sentence, I will continue to visit often the manic, profanity-laced rantings of el mosca remembering that the line between insanity and genious is thinner than a cunt hair.
I took the blue pill also.
Tastes good, and bear profits are sweeter.
I’ll take Nadal for the win……
What say you, Fly?
Oil and Gas Journal reports that rigs are coming back online, around 960+ out of 1900 or something. Down huge from a year ago, but coming back online. Also, with shipping rates at Elian Gonzalez prices, tankers are sitting in the Atlantic filled with more oil than John McCain pre-debate. Shippers said yesterday that they were actually thinking of jacking up rates ahead of any kind of demand. WTF is that?
One last thing about oil: I read the other day that there is buzz about a correlation being traded between Light Sweet Crude and the Shanghai index. One of you fuckers post a chart for this. Right now the oil futures curve is steep and doing the contango with future prices remaining high. With crack spreads wide between XRB/RBOB it still makes sense to be long the refiners. I have to investigate this Shanghai/oil correlation but it may be a way to avoid basis risk if you want to trade a crude-gas based arb/spread.
Another comment on oil:
Deutsche Bank AG is closing and redeeming its popular $425 million PowerShares DB Crude Oil Double Long Exchange Traded Note (DXO), one of the largest leveraged commodity products in the US. “The fund cited ‘limitations imposed’ by NYMEX and will begin the process of unwinding its long oil positions on Sept. 9, a process that could put some serious short-term downward pressure on oil prices,” said analysts in the Houston office of Raymond James & Associates Inc. “Despite the hit, Deutsche Bank said it will continue to roll out commodity-linked products for retail investors within the new regulatory guidelines.” This could be very troublesome for some of those other fav etfs sold by street corner dealers.
“The West Texas Intermediate positions held by the DXO are in July 2010; therefore they will have to sell about 11,000 July WTI contracts (a third of the July 2010 open interest).” The bank stopped issuing new shares on DXO 2 weeks ago. I don’t know how much of a curve flattener this will be. I would suspect not that much if it is already public info.
Damn, I thought someone said something about Xmas..maybe not but anyway, Xmas for Christ’s sake, about the same as last year maybe a cunt hair better, oh fuck, I forgot the new ad payers hate swearing….fuck me running I’m such a douche.
Well there was a small uptick in rail traffic last week, and guess what it wans’t…shit in containers from Asia. If its making it to the shelves for Xmas, the garbage would be on a train now from LA to some shithole in the east like Atlanta…its not.
While our yellow brothers can make the shit in swamp camps and bad conditions for no money, there are no orders for our Merry XMAS this year..everybody has had their credit cut or are overbalanced from $4.50 a gallon gas from last year, and oh they just might have lost their fucking job.
Don’t any of you forget that most Americans don’t make 50K a year….unlike us who wank off on cute remarks we make on web blogs. Cum on baby!
This little fucking rupture in the system is gonna last a while. but hey its September, let the market go down a bit, the fucker will come back. Sorry for the ramble..but it was my turn to be Fucked up
This whole shitter-ee is built on making money on other people’s gain or pain.
Jake…hat tip-as your miners hit pay dirt…! Looks like a solid breakout on numerous names with huge volume..dont ask why..just add up the profits..
NBIX
Here is a Biotech Co. that may be worth a look see for the following reasons:
It was a high flyer several years ago (in the 75-80 price range) and is now about 3.
It crashed when it’s sleep (insomnia) drug was sent back by FDA for more work.
Volume picked up yesterday in the PM when SEPR merger (has Lunesta drug) with Danippon was announced.
NBIX has a relationship with Danippon for indiplon (sleep aid) in Japan(I believe different than Lunesta-not sure yet).
NBIX announced yesterday it will present at the Thomas Weisel Healthcare conference (could have contributed to volume pick up I believe).
I believe its sleep drug is up again at FDA but not sure.
I hate biotechs and there are some questions (see above but there appears to be a confluence of events happening.
Check it out but beware of DANGER as in any “ticking biotech bomb.”
I hate biotechs like GG hated airlines. Too much headline risk in biotechs just like shitty unions in airlines.
Still researching … this is what I got so far
http://www.medicalnewstoday.com/articles/91747.php
A rhyme (kind of).
C (ShittyGroup) has an eye for five.
Wall Street needs to check it’s clock. I believe it openedd a few seconds early.
I’ll bid low .40’s for BDCO
Manipulation at its worst. Nothing like a 25% spread between the bid and ask.
First whiff of wireless IC weakness:
Qualcomm’s move to lower its wafer starts at the foundries may also affect backend service providers’ revenue performance in the fourth quarter, the sources said. The supply chain partners include packaging and testing houses Advanced Semiconductor Engineering (ASE), Siliconware Precision Industries (SPIL) and Amkor Technology, and IC substrate maker Kinsus Interconnect Technology.
Orders from Altera for the fourth quarter will be 25-30% lower than what the FPGA client has placed with TSMC for the third quarter, the sources indicated. Xilinx has also cut its orders for UMC by 10-15% sequentially for the quarter, the sources added.
LCD driver IC orders cut too.
STICK TO NETWORK CHIP AND GPU PRODUCERS.
Despite slowed orders for wireless, FPGA and panel applications for the quarter, TSMC and UMC have seen growing orders from network chip vendors Broadcom and Atheros, and GPU customers AMD and Nvidia, the sources noted.
AMKR looked good yesterday for some odd reason.
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This market is mongoloid retarded. SRS is now trading in tandem with SPY half the time.
… and my TSO position just stopped out.
I WILL KEEP YOU ALL POSTED.
funny…..
who writes this shit?
they (TV people) are calling today a “snap back” day….the DOW was up 0.45 when they said it, then went -7.65, then +1.58…..
holy shit…look out above.
Chipmunks can’t type fast, since they have claws and no fingers. They are about 80% slower than human or 12 digit alien typists.
I’m still waiting for the bears to show up today and take my pic-ki-nic basket. So far none have arrived. Looking to add to refiners on weakness.
I understand you’re smarter than average, but aren’t you still a bear?
Hell no. Not THAT type of bear. When I turn to a bearshitter I’ll let everyone know.
Artist- Been meaning to ask you if you went to college majoring in Art and do you actually work in a related field?
It always interests me as my Dad majored in it Art and Design at the The Art Institute of Chicago.
In his lifetime he did everything from designing the art work on the old pinball machines (when they became popular in the ’50s; he designed the first “bowling” pinball type machine) to designing outdoor furniture and cabinets.
Always though it was a tough field to make a living.
yes I’m a true artist. I’ll post some pics of some of my stuff later.
Is he the one responsible for all the babes with the big light-up hooters on those things, then?
____________
Good deal Artist. Would like to see your work. My house is full of my Dad’s work (was his hobby) after spending the working days designing stuff.
Jake- Not from what I recall. The designs were more tame back in the ’50s. I do remember having one of those “puck” sliding pinball bowling machines in our house. My Dad designed the first one. No royalties as it was for Bally (I think) in Chicago.
see if these links work. I make hand hammered sculptures, I do oil on canvas, I am an architect, I also am a luthier (I hand make my own designed acoustic guitars) I also am an internationally known custom Harley builder. I’ve had my bikes on the cover of Easyriders, Biker, VQ, Ironworks, American Rider magazines and lots others….won every major show in the USA and won the masters, and was VQ magazine Master Builder and have been on Speedvision TV 3 times and designed and painted the winning bike of the Charleston Biker Buildoff that won the $100,000.00 first place prize. This particular bike was fabricated by Kendall Johnson and designed and painted by me.
[IMG]http://i717.photobucket.com/albums/ww171/HardlyTheArtist/M060419-KJCCeltic-007h.jpg[/IMG]
The copy and paste did not work for me.
don’t include the [img] part on the front or the end of the link, copy and paste from http to .jpg and stop there….should work.
I don’t know if these links work but:
[IMG]http://i717.photobucket.com/albums/ww171/HardlyTheArtist/DSC_0143a.jpg[/IMG]
[IMG]http://i717.photobucket.com/albums/ww171/HardlyTheArtist/2_006_big.jpg[/IMG]
[IMG]http://i717.photobucket.com/albums/ww171/HardlyTheArtist/M060419-KJCCeltic-168n.jpg[/IMG]
[IMG]http://i717.photobucket.com/albums/ww171/HardlyTheArtist/scan0123big.jpg[/IMG]
No go.
None of the links worked for me.
You are one lucky person making a living at what you love to do, especially in the art field.
I recall as a kid going on vacation with the family and my Dad would spend most of the time painting lighthouses and landscapes and picking up driftwood on the beach (mostly Sanibel Island- before the condos arrived) and then sculpting.
Tradder, I’ll work on an album and post the link when I get it made….
try this, a few selected pics here:
http://s717.photobucket.com/albums/ww171/HardlyTheArtist/TheArtist/
Great work.
Nice to get a little culture (legit. that is) on this blog.
Seeing the guitar reminded me of a show on History channel Sunday nights called Pawn Shop.
Customers come in sometimes pawning a guitar (usually from the 50s and 60s) with detailed work on it. A few were offered big bucks for the guitar.
PS Don’t let Chuck Bennett see the sculpture. He may get a bit too excited.
Good stuff… what was that last thing? It looked like some kind of air cooled machine gun barrel?
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Hey Artist;
Nice torso. You had a gal pose for that with that bod?
oops… saw the answer lower down.
Did you drop the hammer on those metal broads too? Sculptures and actual subjects?
Mannequins are fucking hot.
yes I use real models for my sculptures and paintings.
Try just making a regular hotlink… like this — Hot metal broad (Venus de Milo?)
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Is that corrosion or a cesarean?
I liked the peacock feather touch.
Very…. “artistic.”
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if you are talking 002, it is a peacock feather, I made that sculpture for a weathly couple whose last name means “peacock” in their native Indian language, they own a resort in Banff Canada. The sculpture resides in their home in Arizona.
Stop press, but Tim Knight was of course long gold. (The guy is a genius).
LOL. Of course he was. Must’ve read my blog last Friday.
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FT Alphaville is speculating that it’s Ukrane dumping all their IMF cash into Gold. If so, that explains the movement in gold, as it feels very dumb.
Yeah, it’s the Ukranians.
Good thing that doesn’t sound dumb.
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link here
BDCO
Just as I thought they wont give up a share when I bid nor will they let you buy more than a few thou @ ask!
bid down 11% all day and close it flat.
CRIMINAL!!
All the boredom has to give way to something spectacular…… Eventually.
Hey Fly!
It’s good that TSO is breaking out to high of day right?
Bored? Not to worry.
Things are about to ‘pick-up’.
Global Hyperinflationary Depression————>> 2011
Indeed!