Men with hunched backs, smoking crooked cigars, declared victory today, by way of sucking the capitalization out of the market. Despite being wrong for 200 consecutive days, today is their day. Let them bask in the glory of dominion, over the hapless bulls and their stupid ideas of progress.
They declare: “In order to correct this superfluous economy, we must bring it to its knees.” Such brave men, from their PC trenches, hit sell buttons, while twittering about their excursions into “enemy” territory. “It is the Government that sucks dick,” they shout from shingled rooftops.
With large signs and fat bellies, they partake in “Tea Parties,” mainly to reacquire their country from the current assemblage of Stalinist yardbirds at the White House, in exchange for George Washington himself.
They will resurrect him from the dead, through diligent hocus-pocus, sufficiently saving this great nation from the horrors of Chinese prison factories.
Nevertheless, despite all of this, “Senor Tropicana” stepped in today. He did not step in too small or too big, but just right. He stepped into shit, then wiped his $450 Bruno Magli shoes all over your rugs. Today’s buys represented faith, not much more. I do believe there is another 1-2% of further downside. However, according to The PPT and recent history, today was a day to buy, not sell.
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FIG. Great post
Who boot stomped my aapl shares in the last 15 mins of the day…trade bots?
ROFL
down 2% you loser.
Man up.
Nope, own puts…I just want to know who did me the favor.
These days the fly seems a bit perma-bull-ish. Like that beanie-ville trader/pumper. Either way. Some of us shorted this week to “bank coin” and used today’s sweetness to close out those positions. I agree though… the up-trend is still in tact, so I shorted almost every single bear leaning Direxion ETF I could grab and closed my Capital One short. Went long on the filthy (essentially bankrupt) bastards. Btw. Greatest. Blog. EVER!
Congrats on doing what has made money on every minute pullback (that’s “my-newt”) since March. It works until it doesn’t, and shorting 3x ETFs is a fun way to get off if you like it rough.
Hi All,
Is there a presentation of the PPT features apart of the one which is showing few screen shot with one sentence descreption? What is so unique about the PPT?
“Bruno Magli…” Just make sure there are no cuts on your hands, you were not on a plane to Chicago at the time of the buys, and there are not bloody fingerprints on the pacer and in one bloody glove outside Casa Fly.
Bruno Magli does make some damn fine & comfortable shoes.
But the Bruno Magli is not the issue here, Dude. That rug really tied the room together…
Yeah, well, I’ll just have white Russian, man.
not perma anything
taken a small bite of FAS right here @72.89
Fly,
Any thoughts ever on ETFC at all?
are the soles rubber by chance?
The OJ autograph style only comes with leather soles
bit of a trend line violation. the book says to be short, so tomorrow should be fun.
Today was my day. I called this downfall and traded it correctly. Good luck to all and come down to the slope for good picks on the short side.
No less than 91 open short positions currently I hear plus another 75 short ideas not yet played.
How the fuck can anyone manage 91 positions at once and why the hell would you want to?
You have been calling for a a downfall for 7 straight months, incorrectly, so congrats on today’s big win.
How is Beatles Rock Band? Not too many folks out buying $250 video games in such a stagnant, retched economy, so please share with us.
I highly doubt that was Tim Knight….Anyone could sign his name and put a link to his blog under website. He’s been wrong all year and it’s too painful to watch anymore.
timmy: I noticed you stopped giving your YTD gains, like the Fly…
I wonder why.
I did get long ALL (alstate) today via options, but I am keeping longs to non-correlating names like PSOF (which did splendidly today! woot!)
Rest assured I still have more money then the Fly any day of the week
Holy shit, you did not just say that!
Seriously, why not just cut to the chase and get “Terminal Douchebag” tattooed across your forehead?
In inverted letters, so you’ll get a “reminder” during morning ablutions…
I doubt that’s him. I think you just got trolled.
Let’s compare brokerage statements.
Let’s compare brokerage statements.
He doesn’t have one anymore, as he lost it in the Great Reverse Crash of 2009.
FF 30 years.
” Granddad, dad says you lost all your money in the Great Rally of 09, is that true?”
“Umm yes son, i lost it all by drawing stupid lines across graphs and thinking I was a genius. That’s why we’re living with you”.
“Dad says you also lost a lot of money for other people talking them into your ideas. Is that true”
” Yes son, in the old days there were these websites called blogs where I would write comments about the stock market and have all these liberal arts graduates follow my advice. They also lost everything.”
One winning day this year, and the homo comes out to take a shot. Gotta be fucking kidding me. No wonder I have so much fun shitting on your pathetic blog. What a fucking tool.
Someone’s messing with ya boys…highly doubt that’s Mr Tim Knight. He’s too busy trading his millions to slum around this neighborhood.
LOL. Your pulish ass-covering for him, while appreciated, might have some merit, had he not made a comment about “buying and selling 20 times over” another commenter on his blog just the other day.
No, ole Timmay’s just the kind of first generation-out-of the-swamp classless redneck to come here and make just those comments about his “bankroll.”
___________
had he not made a comment about “buying and selling 20 times over” another commenter on his blog just the other day.
Can you expand on that a little. What exactly did he say?
It must be paper trading because Timmy has lost all his capital since the march rally.
In any event nothing he says can be trusted as he’s too dishonest to have any credibility. It was only late last week when he dishonestly said that he’d made most of his losses back for the year in a market he’s been short that’s rallied 50%. Ummmm the market fell 2.2% for the week. Freaking liar.
He’s starting a hedge fund you know…It’s based on technical analysis, he’s gonna short the market and make major league coin for only the wealthiest of those who can afford to chip in. It’s gonna be huge. We will plunge again and Timmy’s fund will be on the cover of Time.
If by starting a hedge fund you mean painfully asking his readers to fill out a survey in which he probably found that each had a net worth somewhere south of 25k and then dropping the matter forever remembering that his blog is a magnet for the poor and unemployed/underemployed. Tim couldn’t manage his company properly or he wouldn’t have had to sell it for loose change and a job so who’s gonna trust him minding their money.
I think TImKnightmyArse is a japer.
_________
Tim:
What does it take to be invited to a drink at the “bar” on Fridays? What if a person isn’t gay?
It’s the jobs report, stupid. I forget which way the market is supposed to react now – real bad report still means up? or……bad report now means down? Everything down today but green mostly after hours. The SP500 has always pulled back from being about 20% above the 300 day moving average – there was one exception in the 1930s when it was over 60% above the avg. before pulling back.
HFT, possible that a bad report generates a spike down, drawing in a lot of shorts. Then the market skyrockets under the assumption that this bad report was priced in by the market swoon of the last few days. Low volume Friday afternoon and the shorts could get squeezed badly.
I always pictured you donning $700 Gucci loafers, to be quite frank.
Captoes.
$450….
each.
“Bruno” is the servant.
“Salvatore,” the maestro.
_____________
Gucci loafers?????? That would be gay, not frank. Not that there is anything wrong with Frank.
I bought a pair of new boots. Blundstone. I like ’em a lot.
First new pair of shoes in two years.
I usually buy my stuff at Goodwill.
And yet, you are still a bobo.
__________
what’s a bobo?
Piece of Clay – http://www.youtube.com/watch?v=u9dBq0h3HEk
TQNT is dope in after hours
Ethanol has been on fire in rag-fused bottles, like a throng of Russian mobsters outside a bearshitter’s house.
Chart is way bullish divergent from S&P. http://futures.tradingcharts.com/chart/ZK/A9
Friday will most likely be a doji day, possibly testing the 50 day on SPX
Monday we resume the uptrend
*shazam* (vanishes into the fog)
Agreud.
Meet me in the oubliette for a crooked cigar and some mutton bones later.
_________
IBC burrito favorite CVM had some interesting action AH tonight.
I think a positive note for the economy is that MBS (specifically the current 4.5 coupon) are near multi-month highs right now. With the housing credit expiring in November and rates potentially falling to new lows, the govt may extend the housing credit or step up MBS purchase programs (still ~$400B left in the Fed designated purchase amount). On top of increased pending home sales I think this may be a stronger possibility.
I also love the shippers right now, specifically CNW. I mentioned DB Securities initiating coverage on the industry and YRCW got a new contract among other positive news. Check it.
j:
Did you see Japan’s unemployment downticked to 5.5% from record highs. Other stats regarding unemployment weren’t great but the downtick is positive nonetheless.
interesting..
http://247wallst.com/2009/10/01/chrysler-may-not-make-it-another-year/
308:
I really don’t think it matter’s, they’ll implode every single metric aboutt hat shit is point down. The only decent thing they have is a specialist export industry which is world class and they’re fucking that up with a stronger yen. Everything else there is crap.
We will never see 10000 on the Dow again.
LOFL… Again, I would think this is an imposter seeking to discredit him, but it’s in the body of his latest post…
__________
Possibly, or could be this guy.
https://records.txdps.state.tx.us/DPS_WEB/SorNew/PublicSite/index.aspx?PageIndex=Individual&IND_IDN=4910756&SearchType=Name
Timmy, any odds on that bud? If you offer some decent non pussified odds escrow with Fly or Jake. Don’t be a fucking wuss and stick your money on the table with odds fucker… and don’t get teary eyed.
what a wuss, Timmy
Bought 500 UYG @ 5.23 while wearing flip flops (sorry Bruno)
Done with SMH for the AM.
Thanks.
But, liking BAC,JPM for some long daytrading for now.
Fed’s Rosengren Sees High Unemployment Next 2 Years
Ummmm
TC. I bought some BAC (what else) down here. I/m buying 10% every 10% and adding to my position.
Just sold my JPM and half BAC.
I am not allowed to make too much $$ daytrading.
Gonna try to ride my half BAC for a little longer.
BAC got an outperform this morning from Bernstein with a target of 25.
I think “High unemployment” will remain a fact as long as we have the threat of increased costs of employment hanging over employers.
I know I’m not looking to add anybody, and hell, I need to add somebody!
_____
RAIL looks interesting under 24
Fly, your thoughts on UTSI here?
Freaking gold looks like the Tyson at his prime here.
I think I smell dead bears again…
AA earnings next week will set this markets direction, and tone, as usual.
might be dead bears, but we are on thin glass right now, if they mis, it is elevator shaft, if they beat, it’s dead bears for sure…..
but, the banks have not moved in 3-4 months, that it the real hold up. HBAN for example has been in the 4 dollars range since May, and still there…..