I’m gonna say “I told you so, fuckfaces,” in approximately 5 business days. This market is now rolling downhill, with only small unarmed midgets in its way. Broken robots and drunk traders now control the near term direction.
You’ve been warned.
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FIG – thanks for the YONG tip.
OK so downhill or melt-up, which is it?
A downhill melt up
so, you are saying a rolling downhill meltup is even better than a rolling uphill meltup.
FYI: fly… i understood you (this time)… maybe i’m not a dumas? no, never mind, I is.
Damn, I laughed so hard.
Looking at the ‘money’…..there is a stand-off between majors and we are idled for the moment.
Almost as if we are at the gates waiting for the train to cross.
Anyone see the caboose yet?!
I concur, Dr. Fly. Initiate launch sequence. T-minus
Ken Lewis is on board, BAC paying back TARP.
Enjoying Fat profits short BAC, nice to see it drop after hours too.
Up 3.5% AH
Did TMo(ron)e change his handle?
fid
Fly read your blog over lunch and bought a little (yong). Thanks for the free lunch.
I just got this e-mail from Jim Cramer and he wants me to join up with his REAL MONEY team………………………what should I do??
“Dear Heaterman,
Every day I offer Main Street investors like you the opportunity to make REAL MONEY — as subscribers to my premier information service, RealMoney.
Now, if you know me — and you wouldn’t receive this exclusive $100 savings opportunity if you didn’t — you’re aware that I don’t do anything halfway. It’s either 100% or it’s a no-go.
That’s why I personally assembled a team of more than 70 Wall Street pros who aren’t afraid to sweat it out every day in the trenches — in fact, they thrive on it.
Every day in RealMoney they’re giving subscribers an information pipeline to red-hot opportunities … shrewd investment strategies … and winning calls that time after time rake in huge returns. All based on their tireless round-the-clock research and proven expertise.”
Um… duh… Do it! http://www.youtube.com/watch?v=Ra70O9nps6E
Rumor out here in no mans land is that the Fly is Cramers go to guy followed closely by that Kneel character.
DaveC, You might want to cover as it rips higher. The pyschological effect of BAC paying back TARP cannot be overestimated. We might open up plus 100 on this news. Worse possible news for shorts, you might see this print 18 in the AM and shorts move to cover. Incredibly bullish news for the overall market and the type of fresh news/fuel we need for more movement higher. 11,000 may not be out of reach by end of year. Good luck, you and Melissa Lee had the same response to this news that it is bad for BAC shareholders but the big smart money says different.
Agreed. This is incredibly bullish, with regards to availability of private capital. Up we go.
Helicopter Ben has officially quashed chicken little an almost infinite number of pallets of C-Notes.
would not want to be the one who has to break this news to Christopher Whalen.
ST: DZZ, UUP, BGZ Jan Calls
Only to provide some ST defense b/c of USD strength, hedging the grip of long names I am holding. I will take any profits in the above and promptly roll them into the longs, Buddha willing.
Fly your YONG call was epic. You posted at 1:18 EST… 40 minutes later, king kong started taking school bus sized shits on the shorts.
http://finance.yahoo.com/echarts?s=YONG#chart1:symbol=yong;range=1d;indicator=volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Man, I am not feeling you on this. But you’d know better than me.
That’s because you are in Jake’s ‘Bear Cave’
Go ahead. I can take it. Just remember that solvency is not liquidity. Be well
Chris,
Props for commenting., you’re obviously a pro.
I hope you’ll take my reference to you as a compliment and see the humor in it. Unlike most pundits you have a view—not like some of these guys who have been on TV and their main rec the last ten years has been Microsoft or GE. I remember your passion re: Citibank several months back.
Let us know if you’re going to do any appearances to discuss BAC re-paying the TARP tomorrow.
Have you done any research or study on what banks historically do in periods of high inflation and low fed funds rates? My guess is they start lending, but you may have more analysis.
I believe the Fed understands the problems the banks face as well as you do and they are doing everything they can to fix it. Because we have fiat currency and we control the printing press, I think they can use $ policy to get lending re-started. Only time will tell but gold is telling you massive inflation is coming and reflation will continue.
All my Best,
As long as their is still someone to sell their losing short(or dumb enough to open one), the market will draft higher…I’ll drink to the downhill rolling Melt-up until it cools
I don’t get it
How long until BAC announces another offering and dilutes the shares?