iBankCoin was down most of the day due to the Obama administration trying to stifle the seditious opinions of Jakegint.
I will make this brief, concise and to the point.
I will not waiver. I will not give up. I will endure this sell off and come out on the other end of the sewer pipe victorious. Watch, see, as if you were learning the Chinese alphabet for the very first time. For the most part, earnings have been great. I will pin my hopes and dreams, of swimming in colossal profits, on the on doings of our finest technology firms.
Good day to you.
NOTE: Someone is fucking with Flotek Industries, Inc. [[FTK]] into the bell, every day. Fascinating.
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I would not b suprised if softy said 32 tommorrow, yo
Bring back the king…
Well at least you were man enough to admit you lost all of your gains – if you were managing other people’s money you’d be fired by now.
wtf are u talking about, there are horrible fucking managers everywhere, every year and they arent getting fired. He said he gave back gains not fuckin went to the shit hole where some managers go and still get money given to them. I think u have fucking dementia OldA
Want some kneepads?
sure if he was running a fucking mutual fund…in the real money management world, he’d be facing fucking redemptions out the wazoo…keep the kneepads, you’ll need them for your next job after your long-only money is gone..
OldA,
you are a real ass clown for making a statement like that, which indicated to me you have no serious skin in the game to speak of.
rebel, you’re right, I got no skin in the game…I covered my shorts at 12:30 today…booyah…up another 5% today…you keep hanging onto those longs, mr. skin.
Does the fact that earnings have been great but the stock declines worry you about the condition of the market? Didn’t you call for a 10% to 15% correction back in the 2nd week of January when the DOW hit 10767?
We are down about 6% from that now. I will be watching for the magic hybrid of 2.2 before I get back in. That has worked for me in the past. Thanks for your work, Fly and good luck hanging in there.
I don’t have the time to time the market. I’ll just keep the habitual accumulation going. If it goes down while I’m doing it… good. If it goes up too fast… bad.
I am realizing that it is a lot of effort to jump in and out. I might need to reevaluate. Would you consider your trading techniques as buy, hold and accumulate? I would judge myself as a swing trader. Chart Addict is a day trader. Fly is more of a long term player. I can see the benefits of all trading styles. Do you keep track of your monthly gains/losses? I am up 3% for January. I am OK with that so far. I am still on the bearish side but like some of the setups RC shares.
I started the buy/hold/accumulate into quality in a diversified way when the market crashed last year and haven’t let up since. If the market goes down or squirms for a year then it’s to my advantage. I’m long. Very long. Since I’m investing into quality long term, I don’t have much need to look at monthly gains/losses, but I do.
I am long because I believe the long term effect of artificial stimulus will produce a nice bubble over time. I also believe that it will pop with the click of a mouse at some point, but that time is not now.
Your strategy has probably paid off in 2009. Buy and hold from the March lows should have doubled (at least) your portfolio. I wish I had that mentality during that period. I believe the long strategy will pay off. Maybe I need to split my portfolio in half and use half for trading and half for long term investments. I used to be in mutual funds but now realize the upside potential of playing the market. This site has been the stimulus for my active trading. I enjoy the intellegent exchanges and listen to all views. I am using monthly returns as a scorecard for my trading performance. I need to track how I am doing so that I can justify the time I spend on this process. Nothing more enjoyable than hitting that home run.
G I G
Global Internet Goverment is bending us all over
Microsoft up after the bell.
http://bit.ly/9eFmQ8
The institutional dumping into the bell has been vicious, the indicies don’t properly show how bad it is out there. Suprisingly banks, the target of the the Obama homo hammer, are holding up the best.
That said, shorting here would be pure madness, better to wait for a decent bounce and load there.
Lots of people are waiting for a half way back bounce in order to get short . The bounce cannot happen until this is no longer the case.
Might get another fade-able gap up tomorrow.
The time to short was weeks ago.
I covered another 50 SPY Puts this afternoon (100 to go). The first ones were early, maybe this cover will be early too.
I still like that 107.30-is gap in the SPY for the end of this.
________
Btw — some +460mm buying on weakness “into the bell” today on the SPYs.
____________
“I will not waiver” no disrespect intented, but I think you already did.
Regular people are stupid, so whats new?
The market plays ping pong with your balls? So passe.
The true homoerotic nature of the common man comes out, with increased market volatility –
some things never change.
Peace and Love
GF OUT
CMI has to bounce off $43 dollar range and SD has to bounce somewhere soon if oil can get its act together tomorrow leading into a great end of the week for next week. In the meantime, I will become a sandwich, since i have eaten too many sandwiches in the last 5 days as I wait for the market to catch back up after this stupid week on the markets thanks to great Obamination.. ASSHAT
Bought another batch of calls. Down some from this week’s earlier purchases, yet I stand here unflinching.
care to enlighten us on which ones? your FAS and SPY calls worked out nicely yesterday…
>>For the most part, earnings have been great…<<
This is quite true, but revenue (outside of some pockets of tech) still generally sucks and the job market clearly still sucks and thus there will be minimal sell-through on Q4’s inventory build, especially if China starts clamping down on its hericopter banks. So if you assume that all the cost-cutting that *can* occur *has* occurred (and, in fact, maybe too much has occurred in things such as R&D and maintenance cap-ex), the question is: How much of whatever revenue that *did* occur was due to non-repeatable government spending and thus now goes away, especially when the housing tax credit expires and QE ends and isn’t replaced by QE2 (at least until the market plunges sufficiently to scare the shit out of everyone)? Even if the Q4 earnings figure is sustainable through 2010 on a run-rate basis and we get $67 in 2010 S&P earnings vs. the $77 bottom up estimate (the top-down estimate is only $63), a very generous 15x multiple on that brings the S&P to 1005, and a more realistic (in the face of stalled earnings) 14x multiple would be S&P 938.
So, if you’re going to be fundamentally bullish on this market, you need to be able to describe where the broad consumption (in the face of all the negative housing equity) will come from that will drive top lines higher than they were in Q4.
RAX is having a conference call, 11am Fri. chatting about cloud computing. Lets see if she bounces. This one has been hit hard as well. My chinese plays have bounced.
Tech is way oversold. After earnings season is over, I expect a big rotation back into the tech sector. The money managers took their profits in tech and can now get back in after the tech stocks have been beaten up and the prices are far more than fair value given the earnings.
Fly, can you get Jeremy to fix the search so it includes the new blogs – perhaps removing the one old one in there?
I am guessing these Dolphins are smart enough to be in Congress.
http://www.youtube.com/watch?v=pQ50PYMXDCQ&feature=player_embedded
http://www.allthingsjimrogers.com/2010/01/26/jim-rogers-on-bloomberg-january-25-2009/
Homosexual Opera…
As I stated in an earlier post the qqqq were to break 44 and down they go. I but some puts on the QQQQ’s and will hold them as this bitch drops.
Big volume with the sell-offs and light volume on up days. The momentum is a changin
Allow me to pontificate. The last ten minute massive hemorrhage had at least some relation with Bernanke votes. Bernanke got confirmed in the true sense after hours. Even if there is an intermediate trend down, I would be highly surprised if markets remain down short term. The sleeping giant aka Ben the Bodzilla (sic) has been allowed to be awakened and his chains have been removed. The mofo is going to get all his cannons loaded up tomorrow. And just as a casual shits-and-giggles celebration party of his reconfirmation, he’s gonna blow every short in their faces with huge fucking canon balls.
I am sorry StocksRider. You are wrong. None of what you say will happen. I am terribly sorry but you are incorrect.
Thank you.
Wrong!…wait till I get my hands on you. You will be “terribly sorry” then!
B-52 Ben will be dropping the H-Bomb on the shorts tomorrow. Stocks will be up HUGE!
This recovery that everyone is claiming is here is nonsense.
We will see a recovery when we limit government, Harvard grads, GS employees, and eliminate half the pariahs called lawyers and Americans develop a memory longer than 30 seconds.
Waiting for the test of 10,000 because of Obama’s lack of experience and never-ending campaigning and continuous need to blame Bush.
WTF has he done in last year, except play on the new American theme of White Guilt?
I certainly don’t feel guilty about American history that my immigrant relatives had no part .
Wake Up America! I’ll continue to stay short until I am proven wrong.
You comments are so stupid. I don’t know what is worse- your IQ or your portfolio positions.
He sounds like a fucking Kmer Rouge
ROFL.
(“Khmer,” btw)
_______
Aging robots?
Aging fly?
http://www.youtube.com/watch?v=fRObAPaFb1U&feature=sub
Ummm, you’ve been proven wrong consistantly for the last 12 months. What world are you living in? Have you been looking at booming Corp earnings or are you stuck sucking the dick of Glenn beck and his ilk?
Just to rehash: you are wrong
RIMM has been retarded in this smash mouth fuck bitch
long RIMM still btw
Here is how bad my investing ‘luck’ is. I decide to short one stock (well, puts actually), and I chose LazyBoy (LZB). Why not. Consumer discretionary, lots of f’ing overhead, debt ridden. A horrendous company for this environment.
But just look at its chart. It is as if it is totally oblivious to this market meltdown. Plus its up like 800% this year.
WTF
Ouch to the ZH crowd. Ouch.
http://davianletter.com/blog/2010/1/26/repeat-performance
I love the pop culture cross-reference of Dexter Morgan calling out Tyler Durden.
Now there’s a movie I’d pay to see!
Wow, that is some really damning stuff. Where are all of the honest men?
It takes some talent to steal the right articles
and a bit of effort to re-write them
Earnings have been great, but psychology and technicals are just not there. The S&P 500 is way over its 12 month moving average which, historically, it never seems to get too far above. I think, my opinion, is that we bang around in a range of between 1080 to about 1150 give or take 10-20 points for at least 3 months, but it could go on much longer. In studying the S&P of the last 10 or so years, you can see where when the S&P rose quickly it reverted back to the 12 month moving average over months.
So fill that pretzel bowl. This is going to take a while.
http://bit.ly/d4Akpm
Big Ben will not allow this market to drop anymore. Now that he got voted in he will turn the printing press on Hyperdrive and stocks will race to the Moon tomorrow!… BUY! BUY! BUY!
Just gathering more shorts to squeeze. Banks, tech bounce soon.
Wait till they announce the overinflated GDP tomorrow…RALLY TIME!
just wait til Downtown scottie brown gives em some serious outside shot…iit’ll be dopes with no hoops
mr fly not wrong on steel …buffet buying pkx I hear…
GMCR….wow, great call on the earnings, Mr. Fly.
SQM still in power dip mode….I am looking for an entry point,
MOS hit the 54’s today. Looks like the big boys bailed, right after they gave strong buy recommendations to retail investors. (nah..they don’t really do that, do they?)
Cheers!