For the first time in a long time, the market made me nervous today. You can feel the tension in the air and the back and forth demeanor of the tape. At any given moment, the market can move 200 points in either direction. If you are bullish, you have the oversold thing working for you now. However, it’s not like the market is dirt cheap, at 10,450. If you are bearish, you have news flow and seasonality in your favor.
People want to buy stocks. It’s in our nature to move forward and build upon fuckery. If we have one fuckery, we must continue until we get two. To put it bluntly, the stock market, as it is presently constructed, is entirely for asshats. Plain and simple, if you are not playing both ends via hedging, you are gambling. Don’t get me wrong, gambling is okay, if you have money to blow. However, unfortunately, most of you do not have unlimited resources.
For the day, my current pastiche of stocks/ [[VXX]] is not working, so far. As I write this, I am down about 1%, thanks to losses in POSCO (ADR) [[PKX]] , Eastman Chemical Company [[EMN]] and Flotek Industries, Inc. [[FTK]] . Nevertheless, considering I’ve been going up 0.5%-1% per day for the last week, I will accept today’s minor setback as par for the course.
The most impressive part of today’s resilience was the action in the banks. However, keep in mind, it’s just one measly day. There are plenty of hurdles to overcome, especially during the slow summer months. Take your time with planned trades and try not to act on impulse. The market is positioning to rape everyone.
[youtube:http://www.youtube.com/watch?v=H3HhmeaZFtw 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
If the market exists to frustrate the most people most of the time… its probably doing quite well this year. Lol
fly – THAT the banks were strong today should tell you a lot – that the newz is bullishit for starters.
Same thing here. First day in a while that I was nervous about getting spanked. I guess that means it’s about time to scale back and take profits.
I am glad i flew the coop on FTK….that bastard is up to no good.
i resisted the temptation to get into it under 1.50 today.
two out of three ain’t bad…over the last couple of months i’ve been in and out of FTK and only got FTK’d once.
may pick up some tomorrow below 1.50 again for a short term swing.
“Plain and simple, if you are not playing both ends via hedging, you are gambling.”
Right again. You look at my e-mail yet about the hedging app / fuckery prevention shield Portfolio Armor? Or should I resend it to one of your factotums?
Considering this is OPEX week, today’s action was definitely strange. The grand manipulators could easily have driven this up to crush shorts but didn’t happen.
STD took a hit from the Europe crisis, but is actually quite a diverse bank which took a profit from its Brazilian operations.
and a nice yield for LT accts willing to weather the storm (euro & cre) …
Fly,
Curious that you have V in your list since the P/B is so high. Is this call due to the speculation that financial reform will fall on its face and V will recover with Masterbatercard? Also, what are the most overpriced banks in your opinion and do you use Tangible P/B? Many thanks.
p/b does not apply to V.
PEG is about 1: good value.
Many thanks
Kindly consider not using the word *pastiche* again – it reminds too much of Jim Cramer.
Bus, you fool. The Fly IS Jim Cramer.
(ps I am back. Not that anyone cares, but still..had to announce given my unbridled love for this outrageous website)
Banks strong due to vote on the hill in DC tonite… someone knows something.
Up we go Tomorrow.
SSO
Indeud on all counts
MOTHERFUCKER,
My wife just told me she wants a divorce…WTF, we have three kids together and we’d had our usual marital issues but I never thought they were this dire!!!!!!!!!!!!!
I got the feeling it’s about money…and she can have it all. I’ve made it several times before and know how to make it again!
heh, uh…tmi?
I stand corrected
Never get married in the first place. Just find some woman you don’t like
and give her your house and half your money.
Gives you more time to play golf.
notadumfuk: Don’t be so jaded. Love is a wonderful attribute that we humans are blessed with. Your words “some woman” are not very inspiring. Perhaps u picked the wrong woman? Perhaps u think we women only want is ur house and money? U r wrong. Many woman just want to be loved……
until they get menopause, then they want the house & money …..
Joe…. calm down….
1. Analyze the issues.
2. Listen to her end and express your end
3. Find out the core of wanting to separate.
Sometimes it is only simple actions that can cause one of the mate’s to put an end to the relation. Joe, focus on it and if u love her then try to make amends. If anything, find out the complete details so that you can move on.
***** Most important—- do not personalize this. Life is a crap shoot……
Was there a date for the update for the iphone app to include cheesnwine’s column?
For Canadian gamblers, SLI.V might be good for a quick scalp tomorrow…
Joe
Dont sweat it. You can always buy a new wife
This is the funny part Le FLy,
She sort of bought me 15 moons ago when I was penniless and now I guess she wants her money back!!!! and more, which I could care less for. My kid’s wellbeing is worth far more than any money can buy. She is a fucked up/spoiled wife but she is an admirable mother!
I’ve got to say everyone in my family went through a few of these things and I always thought of it as the worst thing that could possibly happen to anyone. As painful as this is, now that it is happening to me, it feels a little liberating in a weird way!
Maybe my pain might lessen somewhat if I get a woman 15 years her junior…Nah, that’s just my ego speaking! Then again, I am one of them weirdoes that has to have a woman to feel OK about myself!
OHHH FUCK IT! Nothing that couple of bottles of Vodka can’t cure!
Wishfu; thinking?
Joe- sorry to hear the news. Try to stay cool and don’t do anything rash. Be sure to do the right thing for yourself, and the kids.
two words…baseball bat
i thought it was golf clubs..
I think you are joking, but as I understand it, in a shared household domestic situation ANY physical harm is domestic violence, hand cuffs on, off to jail, no questions asked. You cannot lay a hand on anyone you live with. It is serious business, the police will haul you off.
An evil spouse can injure themselves, call 911 and blame you and poof, you are in the legal system.
It is better to leave the house before anything starts, go to a hotel. Order stuff from room service mid evening or chat with the people working there. Activate “location on” on your cell phone.
MX: I would never lay a hand on her, nor have I ever. I still love her even though I can’t be with her. She gave me the most valuable thing I could ever dream of, our lovely marriage and our awesome kids! If marriage is over so be it!
Looks like you have your head on straight. Thank you.
WTF!!!!!
I’M BETTING STOCKS WILL BE UP TOMORROW ON THIS NEWS!
Thank you MX
If she’s early to mid forties it could be pre-menopause related. They get all philosophical about life (along with the sweats and dryness) when they realize that their child rearing years are over and they may have passed up a career or a better lifestyle for bearing/raising your fuckin’ kids!
Kind of a mid-life crisis … with the best solution for her being freedom of choice via “Haitian Divorce.”
http://www.youtube.com/watch?v=ATTU-g_hiNk
Ask her to have her hormone levels checked out before signing any papers … may save you a bunch, just a hunch.
but if you do split, not a bad idea going with a younger woman anyway … if only to avoid a second bout of menopause in your retirement years and having to go back to work after getting raped again by some lawyer. Hint: Find a young chick that doesn’t have nor want any children … keep it simple.
Oh Teahouse….. all that sounds so simple. U r wrong. Find a chick that doesn’t have nor wants children……. that is extreme…. but it is doable. Why not buy a fucking mail order bride. Then if she gets pregnant you can just abort it. Have some sympathy and don’t be so rude.
what’s extreme? After raising a family and having to continue as a part time parent the worse thing you can do is bring in another set of children living with you and your new mate while your own are shuffled back & forth between the two of you. Having a newborn is only more complex and complicates retirement when you have both young wife & kids … I have a friend that can vouch for that mistake. Nothing wrong with being patient and waiting for the right woman that fits your situation … after all there are plenty of options out there.
As for sympathy, why do you think I advised him to pursue the possibility of a hormone imbalance before getting all macho and walking out or getting an attorney. Some discussion might prove that he’s not the problem and maybe her problem is physical/mental leaving her with no other option in her own mind.
Talk to some older women and they’ll confirm the shit they go through with haywired hormones … now Crack a Window, will ya!
http://www.youtube.com/watch?v=PagmfgqgeZY&feature=related (Min 4:30)
Day of my divorce was one of the happiest days of my life. Of course I was flat ass broke back then so the bitch didn’t get shit.
Joe – take a minute and read why Jung admired Freud so much. Both belief systems are correct. Keep all of this away from the kids. As you heal, you may find yourself attracted to younger woman. That is completely alright. Younger woman as myself prefer older men. Let the ego go my dear. Open the vodka and chuck it down. Then, after the aftermath, get down to business and fix the mess you are in. My heart goes out for you.
Buy a Filipino with limited english skills . Eastern Europeans catch on all too quickly about how money works.
With all the unrest going on you should be able to pick up a Thai Issan Princess for next to nothing.
Yes, equipped with several STD’s. I admire you to death Po Pimp, but the stats for getting an STD by fucking the whores is 70%. Aids is child play. I lived all thru out Asia. Just as you have.
Does anyone else find that still of Tiesto really creepy?
Has he taken over for the day – Viz. ‘pastiche’ and, earlier, ‘delectable’??
WTF????
I think we need more cartoons…
This market is wonderful for /es traders. I have been minting coin thanks to the ppt. Watch treasuries they were weak today. Tons of liquidations today, just look at V and MA on the 1mm margin calls.
Thanks for the blog man. It’s cool. I got my asshole raped yesterday but managed to repair it today. Going to be patient and whack this fucker.
Fuck you!
Fucken A! The day i finally sell the longs and hop in the FAZmobile, Batman pushes his wireless ejection seat button, sending me skidding on my broken ass.
Joe,
Just remember women grow old. Men just become more distinguished looking. Her loss.
Joe
Dont drink. Stay level headed and go rent an apt on the shore. Put the kids first and her last
This is great advise b.c truly this is what was going through my mind. Thank you.
First thing on my mind was move to Bora Bora and fuck everything for a copla years but than again I’ve got kids to think about, so, since I live on the shore already, I just have to get another ‘on the shore’ place now, not to far from kids schools. Thank you.
She’s a fucking Riverdale Bronx, New Yorker to begin with, so I thought that providing her her luxury of living on the shore and never have to worry about shit was enough…guess again!
Even though I believe this is all for the good, I’d give up 90% of everything for this not to happen! I need 10% to build from!
Do not drink for the simple physical reason that it is likely to affect your judgment and result in a poor decision. It is not “being strong” or moral or anything like that, but actually about keeping a clear head, which is most important.
Again, the children come first, followed by your mental health and financial survival
My wife was just fine for me regardless of her age or weight but I know what you are saying. Thank you
see my post above ^
Joe- the key is communication. Get drunk and sloppy and then sober up. Have a heart to heart conversation. Put everything out on the table. Kids are miserable if the parents are miserable. So, put them aside and work out the details. In the end, the pieces will fall together.
While this market fuckery is going iran is getting closer to its dear nuke (giving hand jobs to brazil and turkey).. then the real fuckery will truly begin. nothing makes commodity price explode like WAR.
http://www.slate.com/id/2254073/?from=rss
Le Fly,
This maybe (and most likely is) the wrong place to bring this up, but since I’m lazy and mostly just dont give a rats ass, I’m going to do it anyways….
I noticed you’ve mentioned adding seasonality “feature” to the PPT, and I think its a great idea…I dont think i would be too far off topic if I was to mention Intermarket analysis, (economic cycle and sector rotations)
I strongly believe that major markets move in correlation to one another and quite often one market can give heads up on another.
I’ve considered putting together some sort of software that would track that, but lack knowledge/ resources..
i would imagine a distinguished gentleman like yourself does see the merit and that intermarket analysis is as strong (if not stronger) a theory as seasonality…..
anyways…just thought I’d throw it out for your consideration..
Me
@Me – Fly is very aware of sector rotation. Seasonality is different. Fly already has the software and software is not needed to see sector rotation. Join the PPT and go from there.
joe,
get drunk and post nudez of your wife in the PG asap
thanks in advance
ps. stop acting like a homo
Me
Once we are done with work items, i will explore that. Are u suggesting a move in the nikkei or swiss markets might be a prelude to our mkts future decline? Or something along those lines
Joe
People are fucked up, even those who you share large parts of your life with. Eventually, everyone betrays you.
Do yourself a favor and quit feeling sorry for yourself. Get a top notch divorce attny and give her nothing.
Most importantly, your old ass can easily get thru this, once you find a new hottie. However, your kids will remember this for the rest of their lives. Make it easy for them. Dont show weakness.
Fly,
“People are fucked up, even those who you share large parts of your life with. Eventually, everyone betrays you”
I don’t like living in this world, even though you might be right. I never EVER betrayed my loved ones/friends and I believe there are plenty more people like me (in mine and the other gender of course :).
Honestly, I don’t feel sorry for myself. I am in awe more than anything!
My kids as usual came from school and gave me their usual big hugs and I LOVE it, I just feel SO BAD for them that soon we’ll have to have the “TALK” with them ABOUT what’s going on.
As for divorce attny; I don’t fucking care for an attorney when it pertains to my family, she can have anything she wants. Period.
Lastly, this is the last post about my issues, this is a money making blog after all an Le Fly does a better job at it than anyone else on the internetS!
Listen to me now: GET AN ATTORNEY.
She’s not family. She’s your future ex wife.
You will be bankrupted by your “fuck the world, she can have it” attitude. This puts your kids at risk. What if she becomes an addict? What if she already is and you don’t know it?
GET AN ATTORNEY. Protect yourself and your kids.
To add to what Moobs said – Do NOT leave your home. Give no grounds for an abandonment case on her part.
She wants a divorce, she leaves, and leaves the kids with you.
Secure your finances!
Get a GOOD attorney. It can make all the difference. A good judge helps too, but you won’t be able to pick that.
Joe,
Very, very sorry to hear of your situation. There’s some good advice from quite a few in this forum.
And yes, this is a money making blog. But it’s also about capital preservation, and this is one of those important times in your life for you, so the subject has merit. In order to take care of your children (which is of utmost importance) you must take care of yourself. Retain the services of a top notch attorney right away.
Best wishes.
Get an attorney or else this whole confession is a cry a la “help me I’m gay”.
GET A LAWYER!
ok, let’s move past the divorce shit and try to make you some money, so that your future ex wife can steal it from you. LOL
Joe,
Before bringing out the artillery, consider reading some of this guy’s stuff, like his ebook: http://www.doubleyourdating.com/
Very little downside to reading it; huge potential upside.
Not for dating, but for the attitude he talks about. It’s foreign to most guys. You may need to do a 180 in your thinking, but it could turn things around 180 for you (your marriage) – if you want that. This guy is the Fly of this shit. Good luck.
Joe,
One other thing. If you were caught by surprize. You obviously were not paying attention. Fat people don’t just wake up one day and say, oh shit I weight 600lbs. See above. Congrats on your financial success. Apparently, you were paying attention there.
let her spend the weekend with a single mom…perferably an incompetent one…after that weekend – she’ll come flying back into your arms!
LOFL!
You are so full of shit, my friend.
But endlessly amusing, nevertheless.
__________
Fly – how dare you? Not everyone betrays someone. There are good humans living in this world. I have a hard time finding them, yet they are there. Weakness is not bad. Strength behind the weakness is what puts oneself on the top.
Dani, relax.
It’s an act.
______
Ok…. Jake… I trust you……. I am now relaxed. I suppose I am so old fashioned and honestly do not like to see people in pain. I PM’d u by the way. Just to catch up. Thank you for telling me to chill out……..
Buttons
Stfu. Banks are down 20% mtd
that wasn’t the time frame I was referring to.
and please don’t swear in front of the children – we have delicate little ears ya know…Cheers and good night!
mrs buttons…
Joe – man, sorry. Terrible news.
I agree that you need a good attorney asap who can advise you of steps to take, documents to keep, things to say, etc. Lock down legal council tomorrow. Pay extra for a bad ass.
Also, rather than drink to medicate the hurt, I’d talk to someone. Perhaps you have a friend who can recommend an advisor (counselor, therapist, pastor, priest, rabbi)? Might be a healthy first step to process your feelings.
The kids might need to start some counseling too. They are probably very confused and afraid right now.
Good luck.
Oh shit….. I give up….. to many man haters here. Which is ok if relevant to one’s life. Ya’ll, love is so important. Please don’t get so jaded that society rules the heart.
I love u Moobs…. u r so cool …..
I’m not jaded (but I do have insomnia)…so I want to explain why I said what I did about a man not leaving his house, if his wife says she wants a divorce.
One -for obvious legal/custody reasons.
Two – because addictions/affairs could be involved and the finances MUST be protected against this AND the children must be kept stable, in their home and with the curently “sane” parent
Three -because appeasement never won back a woman. It’s counter-intuitive, but giving into the whims of an entitled minded woman only fuels the entitlement
So, damage control = stability of the children (in the family home), secure finances, consult atty
AND THEN work on whatever is wrong in the marriage and try to fix it – bust up the affair, address the addiction issues, see where you contributed and change that, etc.
I hate divorce and I know that very few things are more painful or damaging, especially when children are involved.
Just my 2 cents.
Joe, if you want help in trying to save your marriage I know of a good resource that has a pretty high success rate. Just give a shout out. Take care and hang in there.
Perhaps jaded, yet have insomnia. Your words of wisdom hold true. I am old fashioned and believe in love….. yet I am also a realist. So, when insomnia exists, I watch: Absolutely Fabulous on Utube. I love that show. Just fantastic 🙂
Fly, do you buy into the theory that since the entire world is owning puts right now, the market will snap higher tomorrow and/or Friday, causing tons of worthless expiration?
I don’t mean all the BS stats about how 90% of options expire worthless, blah blah blah…I do buy into the theory that the “market” has a way of making a move opposite the general trend, since that’s where the ownership is usually positioned. I mean, really, how many people own call expiring in two days right now?
I still question why you don’t just raise more cash and wait for this garbage to sort itself out? I think you’re gambling too, since the best case scenario is your stocks go up 10% and VXX goes down 5% or vice versa
I am also 20% cash.
My current allocation keep me at a very low beta. So, I am the opposite of gambling. My position is very conservative.
First I need to apologize to Joe…
I didnt even read the upper posts to realize someone is having a serious conversation here….
Le Fly
Well, it appears that especially in times of crises global markets tend to move together, killing the idea of hedging via global diversification, as well as nikkei or swiss calling the US would be “tail wagging the dog”….(thats not to say that their events dont impact us, but US still is and looks like will remain the BIG DOG)
I’m more about Bonds/Equities/USD/commodities correlations (or inverse correlations)..
Copper seems to turn before US equities (or at least in recent past the decline in copper has preceded the turn in US equities)..
Sector rotations also offer a glimpse at where we are in the overall economic cycle..
Weakness in financials along with strength on commodities suggested that we were in the 9th inning of the economic boom back in 07-08…
Bond markets and the CRB, are inversely correlated, with one often turning before the other…
The reasons behind changes in trend in these major markets are the same, but the fact that they dont happen in sync and often take months or years to resolve should offer a nice edge in catching these monster, long term trends…
John Murphy has a couple of books and a DVD which go into the specifics, but I feel the idea is VERY solid, as we all know about shifts in asset allocation based on where we are in economic cycle..
again, I’m sure you have plenty of dipshits with great ideas for you, i just thought it has some similarities with seasonality and since you’re considering adding seasonality to the ppt “toolbox” , I figured I’ll throw it out there for your amusement..
ME
That is already built into PPT scores. I did scores of backtesting and inserted correlating factors and how they affect stock prices for copper, steel, currencies, treasuries, oil, gold, natty etc. The whole gambit.
Hence, it works.
Hey JOE….
Don’t worry…be happy….just move here where I live…a new little tight chicey babe every other night and cheap too!!! Take your pick friend take your pick..Most just like you to give them a place to hang for a few days..Its sort of like Mardi Gras, meets Octoberfest every night…my digs only run 200 bucks a month…nice 2 bedroom place and I gots a really good maid too..
http://www.youtube.com/watch?v=y4zNxCXQBR8
http://www.walkingstreetpattaya.com/
be cool always
Even in Thailand a $200 / month place is a shithole.
Sigh! Very lonely life……
Good interview
Lutnick is smart mofo….. I can see Moobs and Gappy getting long Harry Potter and Iron Man 3
http://www.cnbc.com/id/15840232/?video=1498740450&play=1
Market has WHOOSH written all over it. WOLFPACK is some scary shit.
Joe,
sorry to hear the news. Don’t be afraid to pray, you never know what good things might happen. Worst case, I think praying will give you some comfort.
Speaking of praying, I better start doing some as my inflation thesis just got kicked to the curb today, but I’m not giving up on this theme. While everyone has been shorting the Euro, I have a feeling Bernanke has been leasing space for some more printers.
Shouldn’t gold be down more on today’s news? I own some DGP and think that puts a 40 print on before year end.
Todays decline in gold is nothing to worry about, if you are long gold
So is there a correlation between the recent market action and this blog’s thread going bat shit crazy?
Joe,
I am about to give you the best advice of your life (free of charge). First, DO NOT hire a lawyer other than to make a token appearance on your behalf to concede irreconcilable differences. Do NOT listen to these nimrods on this site with respect to hiring an aggressive attorney to fight on your behalf for some pyrrhic victory. Cause guess what? That aggressive attorney? S/he is going to nothing other than ask you for a retainer in the neighborhood of about $40K and accomplish nothing other than getting you into more hot water. Meaning, whenever you get aggressive with a homemaker who will be raising children, you will simply piss the judge off. Yep, that’s right…. Piss him or her off to no end, that is! As a consequence, you will be handed her legal bills too. I am serious. I went to law school with many who have ventured into family law arena and all will validate what I am saying and furthermore tell you the same thing(s), as follow: First, go into your kids respective rooms, kiss each on the head, grab your clothes and get the hell out of there and don’t look back. Make your token appearance with a real world lawyer and GIVE HER EVERYTHING! Never have anything to do with your ex wife again (You want to hurt a women? Ignore her! Women can’t stand to be ignored) and focus on your kids. Good luck! And, Fly is right…get back to making some money for your future.
This is largely true from what I’ve heard from my divorced friends. You do not want to get divorced, ever.
So make sure she’s the right one, damnit.
__________
good advice, but I would add be open to the possibility of working it out. In the long run, if you and your wife can make your marriage work it is best for your kids. Step parents truly complicate things.
I say that fresh off a visit at the beach to my in-laws (one a step) where we were allowed to visit the complex they stayed in but not allowed to enter their unit–a timeshare by the way. After a day of using the community’s restrooms along with my kids, I drove home even more committed to making sure my marriage works.
My wife didn’t think it was a big deal, but I thought not their unit being off limits was beyond the pale.
Hope my Father in Law doesn’t read IBC.
The weeks and months to come are a game of chicken between the greedy and the scared. Both will win and both will lose at times. Do people have more reason to be greedy or do they perceive there is more reason to be scared?
Hey joe, i can’t imagine why your wife would want to kick you to the curb. You seem like such a nice, charming fellow.
Best of luck to you. I hope your GDX short works out for you.
Fly – If you could bring on an expert in fixed income and do the same thing with the PPT that you do with equities this site would be unstoppable. Commodities are covered by ETFs, not sure if you believe PPT covers fixed income as well through ETFs like TLT. The point is more about the concept of asset allocation and having analytics for both equities and fixed income (the two biggies). It would be nice to put the entire portfolio into a saved screen and take a look at total beta.
If we have another flash crash, equities other than computer HFT trading between institutions will diminish greatly. There has been a huge exodus out of equities since the flash crash, and the bond market is much bigger than the equities market. My only point is that the same analytics could be used for fixed income and also marketed, as equity interest may diminish while fixed income interest picks up.
Apoc
Already working on that.
Yeah, listen to the deadbeat dad. Dont hire an attny and run away from your wife and kids:putz
Black sombrero
Dont assume everyone is as broke as you. For all we know, joe can have a massive estate at risk here. Stfu and quit giving bad advice.
Ok, here’s “good advice” according to LeFly:
1. Stay where you are not wanted. I am sure your presence as repugnant as it is to her will no doubt cause healing with energy from her epiphany that you were right all along and she is just so stupid;
2. DO NOT FOCUS ON YOUR KIDS! I was wrong to tell you that! Be an onsite “deadbeat dad”. Your brain will be mush if you hang around the house, so why not stay on site and let those feelings diffuse throughout the house;
3. Hire a team of lawyers. Not just one but three. Hell, make it four! Also make sure you get a crack pot staff for em. A cheering pom squad to pump em up for those low morale times couldn’t hurt either. That way you can “bring it”!; and
4 Oh, and last but not least continue to manage your own money (“massive estate”) while you are in this state you find yourself. Don’t get any money managers involved so that way when your faculties return her attorneys can really bend you over for not handling her money as a fiduciary.
Yep, LeFly is right! Sorry. OY VEZ! I am such a putz!
Joe…I can see why you are sooooo heartbroken…tuff break buddy…how can she be replaced?
http://media.ebaumsworld.com/picture/Ryan1966/ugly-girl.jpg