I’ve decided to enforce the “no politics on my fucking website” rule again, due to the fact that it is a stupid subject to debate. I’ve long said “politics is the sandbox for complete imbeciles and/or jackasses who hunger for power.” In my opinion, politicians are either too gay, corrupt or plain ol’ stupid for my interest. Frankly, and I mean this in the most sincere way, if you are interested in politics because you want to “save the country,” you’re better off pasting an “S” on your chest and jumping off Seattle’s space needle to test your powers.
Naturally, the health care bill will pass and all of the talking heads will do what they do best: talk. Meanwhile, back at Space Alien Magician (S.A.M.) HQ, “The Fly” will be figuring out ways to bank a little coin off other people’s anguish, in order to lessen the burden of such detrimental policy changes. Quite honestly, that is all we can do.
Should the bill pass, I expect the markets to begin a decline, down to 10,000 (eventually), which will end up being the best buying opportunity of the year. Or, we “double dip” and head back down to “blue blazer” lows, amidst molten steel and black smoke flowing throughout our water reservoirs.
Yea, good idea sir!
Lets hope it does not fall too far.
Yea, good idea sir!
Lets hope it does not fall too far.
The play was good. I made sure to dress appropriately, given the orchestra seating arrangements.
Not sure if this is a “Mrs. Lincoln” reference or a Titanic one.
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Ahhh, Top Hat and sugarCane!
Couldnt have said it better. Besides who has time politics when March Madness is on?!
Jake can post politics on his blog
Grazie.
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RIMSHOT!
Thanks for the rule Fly you are so right little to be gained with polical opinions here. I just wish my portfolio were not so subject to the decisions made on the hill. Anyone know a ETF specific to healthcare information technology. Quality systems , CPSI , I have a feeling it is going to be like the department of defence when it comes to awarding contracts except it will be to health information companies. Problem is hard to know what name to be in. Safer to buy a group of them.
So we either sell off to 10,000 or go to new lows? Yikes
Nibble at 10K, keep powder dry for 5K. Easy, no?
Very Hugh Hendry-esque post. Word. Worrying about politics in 2010 America is like worrying about the airplane when your 30,000 feet in the air and your going through awful turbulence. Might as well eat some salty nuts and down a few scotches.
LOL. I like that.
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@Jake – You like what? What Salty nuts? I got your nuts right here! (small ones but they’ll do)
If you meant chessNwine’s comment. Yeah, I like it too it’s a good one.
Me too, with the exception of me using “your” instead of “you’re.” That’s what I get for being an IBC junkie when I am out and about and using my Iphone in lieu of my laptop.
If you had a BlackBerry you’s be able to spell correctly and with proper punctuation. 🙂
you’re means YOU ARE, the spelling was correct (YOUR) in the that case…you’re a little slow…
You are dumb.
Big Daddy Fly Man is laying down the Law 🙂 Just focus on making money.
Fly – I want you to know that I have become obsessed with sugar research. I have tracked papers, read books, chronicles, been on all sorts of commodity blogs, blah, blah….. It is getting very interesting tho.
Maybe its the proposed Sugar Tax in NYC…and just recently in the state KS.
Next on the agenda will be the food police….not that that’s an entirely bad idea.
Fly…I know you despise this debate…..but it seems to me that things are way different now than in 2007 when we could just go long HANS and BWLD….given that D.C. is the new Wall St. its inevitable.
Aside from all this How Was The Play?
Fly,
To be clear, this ban extends to other tabs as well such as Jake? I posted on his tab earlier honouring your previous edict that this would be allowed no more on your posts. His hypocrisy (most recent Jake post) deserves a response, but I do not wish to violate your most recent directive, which appears to be IBankcoin wide.
On the topic of stocks, it was a no-brainer to either heavily hedge last week or be net short going in to the weekend. I look for my QID, VXX and TLT longs to do real well over the next week. I just wish I sold out of my FCX last week. I was holding FCX long looking more at the end of the month China rate decision than the health care vote. Silly me.
Post away, Salty nuts.
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You know Jake, you really act as though this is your blog. I will wait for a response from Fly (if you don’t mind).
haha whatever Alvari40, take that shit back to the yahoo message boards. Or better yet the DailyKos
chessNshit, FUCK OFF and let te chips fall where they may!
How do you know I am not the Fly and just fucking with your head, M. Lungsac?
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Ok, now you are fucking with ME! Where’s my damn tin foil hat!
You are too stoopid to be the Fly. So talk about other things outside the Nazi propaganda in this here blog is what he is saying! Meaning, since you no have anything to say outside the FOX parroting, you might wanna start blogging a whole lot less than you have in the past!
Long Live the USA. We do not leave the helpless to die. We help them.
Now, mark my words, Obama will focus on the BANKS (the large 5 ones) next, and the course of the market will never be the same. Ok, never is a long time, but for couple of decades, the banks won’t be fucking this GRAND country as they wish so that their bonuses …you know the story!
My take: GOP plant. But a bit “over the top,” no?
Listen friend. We don’t have to win by deception. There are plenty of libs that will make dumb arguments. No need to sock puppet up an exceptionally low IQ hayseed in hopes of riling up the opposition.
Your heart is in the right place, of course.
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Dont refer to me as your friend. I am not, nor I will ever be your friend you Mengele cocksucker.
As for the IQ thing you are so hung up on: google the IQ ratio of dems Vs. Fascists and you will get your answer. Shout out if you need help.
Deception…Democracy at it’s best was displayed today. If it didn’t g your way…too bad. That’s the way DEMOCRACY works. Meaning, it doesn’t always go the way the special interest Nazis want it.
God bless AMERICA!
Thank fucking Obama you have called for an end to all of this political haberdashery. I was at my wits-end listening to these nit-wits debate nonsense ad-infinitum.
In more important news, HuggieBear ended the week up +8% last week after going like 30-0 on trades. Rarely have you ever seen anyone get so lucky as i got last week. I was barely trading also….
I am going to watch what happens this week…I have a small SKF position so we’ll see how that does.
Neighbor Fly- Does this mean the Hope and Change bumper sticker is coming off your PT Cruiser now?
Also if I decide to run for office as County Agricultural Commissioner can I campaign on your blog? After all, I will have previous government experience working as a Census person. Which reminds me Fly, don’t forget to return your form and be sure to mark the correct designation under race and origin. I myself checked “other” and wrote “Hebrew-American.”
Hallelujah!!
” “The Fly” will be figuring out ways to bank a little coin off other people’s anguish, in order to lessen the burden of such detrimental policy changes. Quite honestly, that is all we can do.” – Exactly, the discussion of politics is only useful if you can determine a way to benefit from their machinations.
It is all we can do.
Amen.
Boy am I glad we know how to build time machines around here.
Again?
Wow. I go on a business trip and when I get back Sen~or Tropicana has banned politix once more.
Fortunately, I missed all the hullabaloo.
Nice! Fuck all that political mental masturbation bullshit.
BTW test of the SPY 200 SMA is coming.
politic comes from the root word “poly” meaning many…
and ticks meaning… well… you know, those little stupid things that always get under your skin?
All you wingnuts and libtards just stfu already. lulz
Good for you girl
Psssssttt….who wants to buy some triple B Treasury Notes?
“I’ll take a couple of them them” said the blindman with the repo’ed eyes who mistakenly paid with a hundred million dollar bill.
LOL.
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I know the market doesn’t like uncertainty, but I also know it doesn’t like higher taxes.
When you say
“Or, we “double dip” and head back down to “blue blazer” lows, amidst molten steel and black smoke flowing throughout our water reservoirs.”
Do you mean that if bill passes and does not hold at 10,000 it will go to new lows?
Or do you mean it will either pass and we go lower to 10,000. OR [if it doesn’t pass] it will go to new lows?
I hope that this doesn’t count as political talk as it’s not intended to have political bias as it can be read as either sarcastic or a paranoid man who’s serious, as I am clearly both at once… no I’m not!
Anyway, I know what this healthcare bill is about! I saw Repomen, and I know it’s all a scheme by the elite!!
They’re going to harvest our kidneys and stuff. They’ll say “Sorry, but you received a kidney transplant in 2011, If you don’t pay your taxes, we’re just going to have to own your Kidney, plus interest, so we’ll take your soul! Now bend over so I can put this tracking probe up your ass so you don’t get away next time!”
To which I’ll respond, “I have a good tradeoff, rather than own my kidney and my sole, you can have both of my soles” as I smack them over their head with my shoes and run away barefoot with my foil hat into the abyss!!!”
Mwhaha
And Can I get a HELL YEAH! politicals is the stupidz!!!
It passed, so now for the fun and games. Clearly the market sentiment will be down on this and it will really be interesting to see what happens in terms of direction.
I don’t want to really guess, but my hunch is that we head down and then the shorts get a red hot rod rammed up their backside.
Actually the futures are flat right now…Considering that people who make over 200k just had their earned income including capital gains get an added tax of 3.2%…looks like they are taking the unfortunate news well…considering that many in the 200k and above are business owners who will now have less dipsosable funds for business upgrades and additional hiring also seem to be taking the news well…OR maybe this is just a sign of the government appointed protection team’s orders to crank up buying of SPYs and DIAs for another week to continue the illusion.
It will all be on the dollar now, no mistake.
Butcher that ho, or it’s going to snow.
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Excuse me everyone, I would like your assistance in finding a “Senior Tropicana”.
Specifically I am looking for payment for
1) calculator brain
2) balls of steel
3) clever eye for finding stocks
Thanks.
whatevs. i have my highest cash level and lowest overall beta in 14 months.
big pharma was catching my eye for a longer term play anyway, maybe this will get prices a good solid 10-20% lower.
As a guy who has owned several small businesses, ranging from flailing disasters to very successful, I can completely assure you that most small business owners aren’t going to panic over an increase in tax rates. They’ll do what business owners do best, get down to business… “so I save 80 bucks if I hire somebody, I pay 40 bucks more if I go over $200k, I could defer this deposit, I could accelerate this expense, where’s the sweet spot?”
Overall, they’ll be fine. A guy can defer a whole lot of income tax… right up until the day you sell a business, at which time it all comes rushing into your garage brandishing stun guns and a tote-size torture kit.
You don’t “sell your business” unless it is worthless. You pass it
on to heirs on a stepped-up cost basis, and then THEY sell it with
zero capital gain, or even a capital loss.
Or else, if you are not planning on holding the business till you croak,
you “go public” with it (or sell shares in it to somebody), and take in a
huge wad of cash – tax-free.
Well holding the last ones I owned long enough to pass on to heirs didn’t seem prudent with markets crashing (opportunity) and a heinous recession looming (not fun to own business through), so I did, in fact, sell them.
I would say, honestly, that selling out of a business is a fairly common theme for SBOs. 🙂
It’s very common, and how I make a living.
Taxplanners don’t like it when clients sell their business because that’s also when “poof!” goes the client.
So sorry, but I have the wealth managers (and the agita) on my side. 😉
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Futures are pretty farking far from flat right now, down 10: http://money.cnn.com/data/premarket/
Have you ever been around accountants at a party? Its a little like getting your teeth pulled. Terribly boring! Are you proposing the same, sir?
You dont bring politics or religion to the poker table unless you want to distract the players. Please do not distract the players (traders) in this forum. This forum is for those who have an account and trade. If you dont trade, then please stand a distance away from the table and do not distract the players.
Market on mission to 11k/1200SPX.
I’m pretty fucking shocked we’re printing green today. If we’re printing green on a market unfriendly policy like that this shit looks like it will go much higher.
Not shocking at all. This is still a long only market. It will continue to be until late August. I am still long and strong and won’t trade out of my positions in ES, NG, and USU
Fig :
Yiou think they’ll get the loan (USU). If they do this is a 15 buck stock you know, as nuclear has a tail wind as a result of Brother Obama’s decision to approve those two plants.
Of course they get the loan. They are just waiting for the right time. Now that healthcare is taken care of, they will deal with other huge issues like energy. You just need to wait it out, the stock is worth 15 without question. I like ES even more though.
I’m a bit confused as to the strength. I’m waiting till later in the afternoon to make any changes in position. I believe after a quadruple expiration we normally trade in the opposite direction of the Friday close, which would make this normal action. With all of the news, I’m not sure…
the news is inflationary. That means the stock market goes up, not down. It is that simple, and the market is doing exactly what it is supposed to do. Buy NovaGold like Soros if you want to make some big money thanks to inflation.
I think if that were the whole story, TNX and TYX would be moving higher. They’re not. We shall see.
OK, no politics, but I assume religious proselytizing is still OK?
I know it’s easy to be distracted by the recent health care vote, but do not get suckered into a rally here because the China news is around the corner. I am looking at this as the perfect head fake to draw in the crowd at the last minute before the China news hits at the end of this week. They are faced with inflation that needs to be tamed, a run-away real estate market, a government that wants to slow lending after they flooded the market with their huge stimulus, and the beginning of what could be a trade war with the US due to a pegged Yuan. This would all seem to indicate that an interest rate increase or reserve adjustment is on tap for the end of the week – either of which would hit the commodity market and reverberate through the rest of the market, thus setting up a perfect catalyst to begin a market correction at this overbought level. However, news over the weekend that their current trade surplus could result in a trade deficit at the end of the month, could quell any thought of raising interest rates at this time. So, we have mixed messages at a critical level in the market. It may be wise to sit back and focus on day trading until the news flashes across the board. I am heavily hedged at this moment because I believe that bad news out of China is the perfect catalyst for a correction. Additionally, no rate move out of China could also result in a non-rally response from the market, which would also be a signal of an impending pull back.
Interest rates are not going to be raised at all. They are going to keep them low to help inflation kick in. And when they finally decide it is time to reign in the inflation, it will be way too late. The fed doesn’t control this market, the market controls the fed.
FIG,
I agree on the home front. However, I was referring to China and what they will do at the end of the week w/ re: to interest rates. That is the next big news for this market. Their inflation is real and their real estate issues are also real. Ours? I agree – nothing here that I can see.
What China does domestically won’t have any effect on us at all. They need to keep letting us dig our grave deeper and deeper. For now, they will keep us happy, but in the end, they will push us into our grave and bury us alive.
No double dip here, just a double top, to 2007 highs. VIX to 10.
CLDX running hard on a short squeeze.