This market is about to rip the tits of participants. Should the Yen start to rise, we will have a full fledged rout, ending in your eventual margin liquidation. This is NOT A MARKET TO TAKE HUNCHES, you stupid fucker. This is the sort of tape that puts your house into foreclosure. Heed my warnings now, stop buying and selling short, at once. Instead, go home and play with legos or eat vicariously, through greasy bags of potato chips.
Before you do that, be sure to have a bountiful amount of cash and some hedges. This means, if you have a long bias, throw in some shorts. If you are an idiot and have your book positioned 100% short, throw in some longs, for entertainment purposes.
I will have you know, “The Fly’s” blend of long/shorts/cash is working rather wonderfully today. Won’t you stop by later for a pizza slap to the face?
Off to eat a monstrous bowl of cereal.
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What kind of cereal? I prefer something chocolate, however Frosted Flakes will always be the greatest.
I would love to stop by for a pizza bear slap to the face.
I hate when flys get into my bowl of Trix
I will just punish myself and watch Oakland-Red Sox on the MLB Network.
I am now 25% in GLD. Per the moose.
There is no “hunches,” only Zuul.
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That saying really does apply to everything.
BP? There is no top kill, only Zuul.
Bad coffee? There is no coffee, only Zuul.
It is a perfect saying
Truu! (sic)
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Pepperoni and mushrooms on my pizza, please
You must not be talking to 100% short Timmay!
http://slopeofhope.com/2010/06/engage.html
WTF why would someone short that many individual stocks. Thats rrrtarded.
He has to either be bullshitting or he is nuts, just like Uncle Leo. Just short the SPY or Q’s or get some puts or whatever – much less in commissions. He is just gambling and would be better going to Vegas. He talks about the 8:30 release of the unemployment report so he is just guessing and besides the key is NOT the report but how the market reacts to it.
“The original FAZ-tard.”
He was FAZtarded when faztarding wasn’t cool.
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I agree. That is retarded. Why not pick a handful of shorts?
“This is the sort of tape that puts your house into foreclosure. Heed my warnings now, stop buying and selling short, at once. Instead, go home and play with legos or eat vicariously, through greasy bags of potato chips.”
HA!
ROSTALOL
i have to concur that VXX FXY TLT are all getting too crowded short near term.
However
this is the Sixth time the Euro index has rejected these levels, since May 19th. Every time we fail to break new low, support strengthens. A euro bounce, in spite of jobs, could keep commodities/energy stocks in an upward trajectory
oil is going to 80 again (and more) tho?
Certainly. Right now, it’ll be there by June 2011.
$80 this month is a lock. Buy every dip.
War with Iran is coming. That will help, too.
Anyone else watching the TED Spread? It has been widening quite substantially over the last month, and it continues to widen today. The level it is at right now can still be considered normal, however. It was near 10 in March, and has already risen over 40 now. Under 50 is still okay, but the rate its been moving tells me we are clearly not out of the woods in regards to Europe.
What makes me uneasy about it is that the levels of the spread have been subdued ever since the crisis subsided. Whereas, it normally moves up and down a lot. A clear change in direction has occurred, and we are nearing the levels it hit in August 07, just prior to the mess.
I have also read that European banks are parking their money with the ECB rather than trading amongst themselves.
So, anyway, I agree with the Fly. This market is about to fuck everyone playing in it, with wild swings both ways. I think the market is now going to hug the 200DMA +/- 50 points on the S&P. The swings will be huge from day to day, with no clear winner on either side. This type of trading should last throughout the entire summer.
Check out the zerohedge discussion of TED and the argument that it should be read as more like 120 rather than 40. I think it was yesterday – oooshit, Paul McCartney’s coming – look busy.
[whistling and filing papers…]
Sold my entire position in MO for bountiful gains. I needed to make room so I could buy APC at $45.57.
Balzy!
I just got back from a nice surf sesh mang I AM HOME.
I drove the new FAZmobile down to the beach. The thing is running great!
Be sure to wear your asbestos wet-suit on the way home.
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Go eat a sandridge
Long rally straight ahead. Watch and see. As soon as the “gusher” gets capped the manipulators are going to inject the steroids.
Thanks for the heeding senor
I will sell some IMAX and DVAX into the close right sizing my ego in this egoless tape.
I think…..
beaming out, HF
You must be hungry, quite a number of food references. I’m going to spend the afternoon hitting co-workers in the face with a box of boston cream donuts.
lol…. we should be there in about 2-3 weeks.
10K shares of UCO @ 8.33
zero-hedge
Well you scared me into hedging…went out and bought puts for all my positions, except for my giant GLD stake. That fucker better not collapse.
GLD puts are cheap, so why not buy a few?
Yeah I am going to, but i would like to get them on a bounce. Little more pricey with the down action in GLD today. I only got my position near the low today so I’ll be hedging it in shortly, hopefully on a bounce.
The ones I bought (the DEC 109s) actually went down today.
Gone from short to 100% cash. Booked a nice profit. My oldest picks up her degree tomorrow so it’s time to celebrate. There’s more to life than this fuckery. I predict that the jobs report will mostly be ignored and forgotten by noon tomorrow. Good luck gentlemen.
DO NOT BUY BPAX
Also NEWS ALERT…..The V.King will be giving out the first letter of his 5 star penny stock idea soon over on the Jake Gint Blog…..
Only 5 Stars? I only buy 50 Star Locks (like from those guys in “Two for the Money”)
Fly sell sd on the bounce today ?
EUR is tanking and nobody seems to care anymore.
If The Fly’s prediction is correct, one could analogize the market to a Mr. David Tua, and the typical investor to a Mr. John Ruiz.
Hedging FTW, though the best time to do that was when the future looked sunny. But if you didn’t do it then, the second best time would probably be now.