It’s 3:20 pm and I am no longer intrigued by today’s market. So, without trepidation, I bid you farewell.
Before I go, let’s review The House of Fly, shall we?
20% cash, 11% [[VXX]] and 69% equities
Core positions:
Flotek Industries, Inc. [[FTK]] Goldman Sachs Group, Inc. [[GS]] ICICI Bank Limited (ADR) [[IBN]] POSCO (ADR) [[PKX]] [[CBD]] Teva Pharmaceutical Industries Ltd (ADR) [[TEVA]] Sociedad Quimica y Minera (ADR) [[SQM]] [[MWW]] SandRidge Energy Inc. [[SD]] [[VXX]] Citigroup Inc. [[C]] Southwestern Energy Company [[SWN]] Johnson Controls, Inc. [[JCI]] Jarden Corporation [[JAH]] Fuel Systems Solutions, Inc. [[FSYS]] The AES Corporation [[AES]] Eastman Chemical Company [[EMN]] [[CGA]] GMX Resources Inc. [[GMXR]] Cytec Industries Inc. [[CYT]] Cameron International Corporation [[CAM]] Trico Marine Services Inc [[TRMA]]
As you can see, it’s a mixed bag, with bitter sweet action in Goldman Sachs Group, Inc. [[GS]] , only because I like the fact that it is going lower, so that I could buy more. But, it does suck losing 10% in a day. But, my intra-day Trico Marine Services Inc [[TRMA]] and Cameron International Corporation [[CAM]] purchases have more than cut my Goldman losses in half, as far as daily profit and losses are concerned. Essentially, “The Fly” is winning, even though it appears he is losing in the most horrendous of fashions. To answer your question pal, I am not selling anything today.
Off to do something rich.
NOTE: Remember to tune in this weekend, for another fun filled episode of Cartoon Fly. This week, “The Fly” hires a new rep, Sunday 8pm.
[youtube:http://www.youtube.com/watch?v=St_1VYFUt_0 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
How you folks feelin about goin long aig?
Still long mta
The Fly is God!!!!!!!!! HAHHAHAHAHA!!!
Ballz of steel adding to your squid position on friday.
I added to GS too and now I have 50% of the position in GS that I innitally wanted to. I have to say that the fact tht there was no strength/bounce today in the share price makes me a little nervous. Does jailing the french cocksucker have any effect in GS’s ability to make money? No! Fuck, even the CEO could go to jail and GS would still be intact. So, why is the selloff so relentless? Is there something I am not seeing?
Come Monday, I will decide to get out entirely or continue to build the position to where I originaly wanted . Today’s tape was disapointing and the weakness is pointing to the fact that there might be something yet to appear!
Fuck all of you and have a great weekend!
” So, why is the selloff so relentless? Is there something I am not seeing?”
Yes.
You are not seeing the sell-off.
The fact that squid will continue to make money benefits you how exactly as a shareholder?
I want my 40 dow points. These triple digit swings are getting old.
I prefer the little engine that could that just chugs along everyday.
According to “ran squawk” newswire, the US may open up the strategic petroleum reserve. This could give further lift to the market next week.
Also–Im Seeing many potential bull flags in many sectors here (on 30 min charts) — $IYR $XLF $IYT $XLB $EEM $IBB $MOO $FXB $FXA .
This is giving me more motivation to NOT be short into monday
FLY
That’s better that’s the FLY we know and love.
Have a good weekend!
Quiktdr (I ain’t fuckin’ scared)
Looks like that dip you were waiting for finally arrived.
not even close
Yeah, but at least you have some protection to the downside.
So Lady Gaga with my poison of Shanghai ala Telephone vid vs Fly’s Eminam….total fun
Lame post…that is what happens when I post while on You Tube.
happens
With the gulf omega 3 production troubles, MATK could eventually get a bid …they make theirs using algae instead of fish.
nice out of the box thinking
A huge amount of Omega 3 made in Northern Europe and China and Canada etc
Off to do something rich …. like bungee jumping off Icelandic volcanoes, windsurfing in the GOM or converting dollars to euros for a Greek salad?
Nice looking h & s on RTH.
http://img405.imageshack.us/img405/2207/rth043010.png
We get a second helping of what we got today on Monday.
I’m already liking ppt via CAM
MTA?
Fly you’re fucking gay
Vxx
I have 10 other bloggers on this site who do that. It’s like me asking you to be cool, not happening.
TRMA, interesting find…
Sorry to hear huggie. It happens.
The middle class is too busy eating cheese doodles dipped in blue cheese to figure out that goldman is not the enemy.
The overall damage was limited to only a bit over 1%, so we’re only talking about a flesh wound, but the point is “they’s principalities involved, smoke”….that’s all i’m sayin’.
Also, I just like to occasionally be irate. It numbs the pain.
Anyway, I’m buying more GS Monday. I hope it goes lower at the open, I really do. Actually, I’m buying it up into my wife’s IRA account. I don’t have the patience to hold it long enough to profit, but if i just stick it in her account i’ll probably forget about it.
She is gonna be pissed — no way she will see the logic of me buying some company that’s being roundly trashed at every news break and who’s share price is plummeting day by day. Should make for decent entertainment.
Gs to book value? Based upon what premis? Not saying it cant happen. I dont get surprised anymore. But can you tell me why gs deserves such a trim?
I don’t have a time machine yet, so I tend to look at the charts. I won’t describe specifically what I’m looking at because I know your opinion of TA and it will just sound silly. I just can’t look at a daily or weekly chart of GS and think that it’s a good buy right now; these huge sell-offs on huge volume seems like more of initiation down move rather than a panic/blip to be bought. We just closed on a monthly and YTD low for GS with the market starting to soften and the VIX spiking. This just seems like the kind of move that I would rather be buying on the way back up than averaging down on.
todays winners:
SUN
TRMA
HOS
CYTR
IAG
Except gs and p’raps goog, both of which look set or close to set for an options play, this dip hasn’t really been meaningful enough to really present big fat obvious buys… test of january highs should do something…
Flysucks
Perhaps i might interest you in an old goat? Your candor is certainly not necessary, especially since i am so much better than you, ranging from wardrobe to dick size. Do yourself a favor and go out for a few drinks. Arouse the life hidden behind all that nerdery.
Howie has been made.
You know Fly, I would seriously think about the reason why this site exists. I’m sure the SEC will too.
“The sectors that brought us to the ridiculous highs are getting sold off. The financial sector now faces a choice between offering a sacrificial lamb or becoming a regulated utility. We hope it opts for the first (we have a few candidates in mind), as the latter will likely lead to the prompt realization that we never really emerged from the great depression v2. Goldman once again reminded everyone today who is still in charge. As for tech, say good bye to the stimulus wave. In fact, Q1 GDP will be merely the next point on a declining curve. Unless a new stimulus is instituted promptly, this is now the middle of the W. The same for the artificial and one-time bounce in GDP as we have been saying since April of 2009. The bears, for the first time in 13 months are finally smelling blood. And we have a weekend chock full of catalysts,number one and two being the Greek bailout and the resultant civil war, and Lloyd Blankfein on Charlie Rose, digging himself into an even deeper hole. The best damage control for the squid right now is silence. Pity that stooping to the level of the morts has always been the mollusc’s weakest side, and soon to be its undoing. Also add to that the Bund short-end screaming tighter, and the surge in the dollar, as in the sudden and dramatic evaporation of all carry trades, and you have set the stage for the Lehman unwind. Next week will be fun. Next week will be fun. “
Fire Ann-nd Brimstone! Ten Thousand men sacrificed on the alter of mankind! Comets shalt pierce the-e sky-es!
Evile Blankfein, of the elite, never knowing poverty (except that he was born into it), eating the flesh of babes before-n mine eye-ez!
Cebu
I am better than you too.
100% cash
I’m not scared either!
Covered that 600 share FTK short did ya? Well done.
Hey did better than most…
Fly and Bill Miller on the same side of a trade…This is gonna be good,this is gonna be real good.
http://www.businessweek.com/news/2010-04-29/bill-miller-sticks-with-goldman-sachs-as-damage-seen-limited.html
From these levels and the overbought condition of the market I would be basically shorting everything there is to short. If my family had a ticker symbol I would be shorting them too. That is to say I would be shorting:
MOM & PAP
Boom
Totally out of left field. Who would think a criminal probe woulf be opened so fast?
You probably should avoid after hours trading. Lots of times analysts pearl harbor you before trade the next day, as was the case today.
you are not scared. ofcourse. you have unlimited money. but we are scared because we have limited amounts.
so, why not post trades for people with limited money?
My god, this is why middle class America deserves to suffer.
This is why you need a boot up your ass. Arrogint (sic) prig.
Because the op is fading you dolts like HenryFool.
will i get my GS money back on monday??
Let me count the multitudes of fuckery I’ve experienced this week, mostly today.
First, let it be known that i sold my 12,000 shares of Dendreon at $35, when my oft-pronounced strategy was to HOLD UNTIL AT LEAST MAY 1ST. What the fuck is wrong with me.
Second, my mean reversion ES auto-trading system decided to deliver blow after blow after blow upon my person while i was out playing golf this afternoon. What the fuck happened to BUY THE GOD DAMN DIPS?
And last, my first tranche of Goldman Sachs has delivered what can only be considered an immediately body blow.
Bummer.
GS did a number on me too.
And I have what doctors describe as a stomach virus, but what I call Assplosion ’09
I think you might be a bit early on the GS trade. I will be a buyer at the Warren Buffet levels (120’s).
Hahaha
You SUCK. Your 16% gains that you were touting are at what now? 12%? I bet it is. You been losing your ass the past 2 months. I suggest Howie you stop being delusional and start acting like a professional instead of acting like a cussing insect insulting your readership.
I’m sure they and the people who are clients for your firm wouldn’t want to know that this is how you spend your time pretending you are StockGod.
Common squid shares are for losers.
“We’re Not Scared”
—
With all due respect, senor Fly … I think maybe you should be !!!
Just sayin’ !!!
.
What do you think about the AUY earnings coming up?
Trend is busted, no reason to be involved right now
Let the market setup again
On daily it looks like it’s been consolidating for weeks and now about to breakout from the upper range with heavy volume.
Earnings can give it the momentum.
The downtrend looks busted. What are you looking at?
…“downtrend looks busted”…
… uhhhhh …WTF are YOU lookin’ at ?
.
you could call the move from 12/1 downtrend if you wanted, in an uptrend, which is broken.
Tsk tsk Howie
Market dips a lil bit and all the assholes come out of the woodwork getting all tough with The Fly.
WTF? Want a cage match with The Fly, you losers? You do not want that. Fly will dent your foreheads.
Watch a movie this weekend, folks. Distract yourselves and quit bitching. Jeez.
The Fly is God.
Hear, hear!
GS “scammed” with multiple fraud / fraud attempt / market manipulation , in the last YEARS , and now it’s being written on financial books and history .
GS stock is going to 100 and very likely under .