Portual
Italy
Greece
Spain
Hungary
Ireland
Turkey
Pigshit!
That market is under pressure for a multitude of reasons. Instead of offering you a pointless post about “how fucking awesome” I am, as opposed to you, I will scribble down some of my random thoughts for your perusal.
Hungary is warning of default, sending CDS spreads through the roof.
U.S. employment numbers were very weak, further emboldening the “double dip” camp to sell short.
The wolf pack is circling the Euro and all European countries, mentioned in my crude version of acrostic poetry.
China is slowing down and can no longer support the world on its own. They need help.
China is in a bubble of all bubbles, waiting to pop.
Mutual funds do not have a lot of cash on hand, leaving the market susceptible to further downside.
The fact that rates continue to go down means deflation is the play, not inflation.
The Yen carry trade continues to unravel. This is particularly bad for Australia.
European banks will take massive write downs and need to raise more capital.
Okay, that just about summarizes my fears. Basically, the market is diving here and appears to be OVERSOLD. However, as a manager of other peoples money, I am obligated to stay hedged over the weekend—just in case fuckery on a grande scale ensues. So, I am keeping my FAZ/VXX/short MET trades intact. Also, in the event the market bounces on Monday, I will keep all of my longs, including GS, GLDD, PKX, ATPG, FTK, TEVA, SD and RINO—just to name a few.
Overall, I am 45% cash, 17% VXX and 8% FAZ/MET short—leaving me long to the tune of 30%. In my estimation, my bias is bearish, to a slight degree, especially since FAZ is x3. My purpose, as always, is to preserve what I have and eek out another 5-10% on this decline. When the time is right, I will deploy my 45% cash horde to the long side, then pare down my shorts. Essentially, this is an art, something that I am very good at doing. The market is my canvas and my money is the paint.
Off to celebrate, yet again (I’ve been celebrating a lot these days)
NOTE: Do yourselves a favor, check me out on The PPT.
THE FLY IS GOD, DAMMIT
Don’t you mean “THE FLY IS GOD, GOD-DAMMIT” ?
How could you forget Romania !! All those excursions, all those goats, all those goat-fuckers .. How could you!?
http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9G4CR380
So that would make it P.I.G.S.H.I.T.R. then?
Sounds like a social media app gone very wrong.
This is getting to be one big Scrabble game. Pretty quick here we’ll have a whole bunch of U’s and we’ll be trying to make the biggest, gayest acronym we can muster.
PIGSHITTERS UNITED!
nice
A Howard Lindzon company, no doubt.
^lmao
If it were a Howard Lindzon company, he’d probably have sold it for a handy profit before the wheels fell off of it.
How’s the PPT over bought/over sold looking?
I am making a bet for a rebound Monday – this is way oversold. Going long FAS one more time.
And the CNBC idiots are morons!
What are you basing your oversold bet on? I am thinking Monday would be very bad.
The only indicator that matters, of course.
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Judge Wapner needs to get the hook. Take him and Maria off the air and put Kudlow on. For some good old fashioned bullishness
A neutron bomb needs to be detonated in their studio.
No more Kudlow! Please! If they would just stop all talking at the same time I could leave the sound on.
But Fly, As I pointed out in my newest blog over at Peanut Gallery….next week the ECB and BoE is all we got to stop all of this……wait, wait…..I have to stop laughing.
Which reminds me, can you please send some very hot coffee over to GS for that Upgrade of JOYG…I hate stupid analyst.
Dow 12k by september. EURUSD 1.40 by end of august.
But, most importantly, EEM and EEB (emerging markets) will test ALL TIME highs by end of 2010. The Bric nations are still over 4% above their may lows. This next move up isn’t a bounce. Its the start of a emerging market/commodity bull run that will dwarf the rally of 2007. There won’t be any bear blogs or analysts left by fall.
There is no historical model on earth that can calculate the strength of eternal Zirp.
I was extremely bearish on the Dow above 11k. But, i have seen the light. We will see an exact repeat of 1987. Capital will flee europe and america for the 10 major emerging market nations. Imagine 10 japans in full 80’s style bubble mode.
Ironically, the last time I had to sit 6% wrong on a swing was back when I was a dollar bull in winter. Now I’m the last euro bull on the planet. How the F did that happen? No clue. But, it was the right move
The 1987 crash was a big blip during a secular bull market. We are in a secular bear market now. Have been since 2000. There are more dark days ahead as valuations gradually will grind down to single digits over the next 6-10 years or so. The crazy rally from the March ’09 lows was a cyclical bull market which appears quite clearly to have peaked and ended at the end of April.
Oh, and we are also coming off a ginormous, global, decades-long debt bubble. Our economy is fucked — the government can’t even fudge enough census jobs to make it look like there are any jobs. Party’s over for the buy & hope crowd for a while.
A ZIRP is exactly what it sounds like, an overweight belch after one has overconsumed. Low interest rates are good for those who can borrow at that rate, but look how that capital was deployed. Certainly not directly for industrial or manufacturing productivity. While we are a provider of deep liquidity to foreign countries the soaring USD will not make us a competitive exporting country.
I think we need to attack deflation here at the obvious source, housing. Someone needs to figure out how to alleviate the overhang of delinquent mortgage owners where the number of days people have been freeloading in houses has been hitting new highs. That aspect of the US is exactly like Japan’s lost decade. Poor expedition of bankruptcy declaration and mortgage re-negotiation.
Ok, what the hell, I’ll ask.
Um, how the heck are we going to 12K by Sept if “capital will flee america…”???
I always appreciate a bullish outlook as I’m a total bullshitter, but this is just ludicrous reasoning.
Some mystical Zirp is gonna get us there?
Did you read any of what The Fly has been posting?
The Dow 30 components are heavily tied to overseas growth. We hit 14k previously due to the emerging, and Bric, national blocks. While the US and Europe panic, those countries will remain calm.
Every point The Fly made is valid. But, i think all of those points only give capital more reasons to flee to emerging market economies. Once there, it will actually experience faster growth and deployment than it saw sitting in eurotrash savings accounts, or american CD’s. Watch EEM and EEB. Analysts are barely even mentioning these sectors anymore, due to their fixation on europe. The emerging nations are about to sucker punch this global wave of short sellers. Essentially, Europe panic will provide the chinese/american commercial real estate ponzi scheme years of safety–by acting as a diversion.
The third world economies are about to save the first world markets. Deflationist permabears like roubini will be doing the walk of shame by august.–just like they did last year.
http://www.youtube.com/watch?v=oabcM9SOF-E&feature=related
To your point: tThe Emerging Market ETF’s led the “buying on weakness” charts over on the WSJ page.
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I normally refrain from making predictions on this site, because, well, this is The Fly’s turf and that would be like some amateur boxer sparring in the same ring as Muhammad Ali.
However, this is a special occasion. So I shall be so bold.
I PREDICT A HORRIFIC DOWN DAY ON MONDAY.
Watch for it.
Have a good weekend, gents.
No dude. Explosive diarrhea Monday morning. You’ll be peeling shrimp off your shower curtains. 4% up day.
I would say “let’s bet” – but with our market hand, we already have.
See you here on Monday.
I’m with you prez. A very bad Monday. Fly outlined all the reasons already.
PPT says oversold though….a bounce can’t be ruled out. Though if there IS a bounce ah will probably use that to buy my FAZ and VXX back cheaper than’ ah sold ’em fer today.
Exactly. I just watched two or three months of market manipulation at every critical technical juncture. This is just another critical technical juncture. Why would the manipulation stop now, of all things? The US dollar hasn’t experienced a bank holiday yet.
Hilarious moniker.
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Is that a blackberry you’re using? lol
HA! Everyone should live by that. Nice one.
The Fly is God.
HA!!
I’ve been trying to tell you for over three years–
The Fly is God.
DS
DS = Double Short?
Dip Shit…as your weak post
Do you even have a PPT Subscription yet, Banned One?
You may wish to get one soon before you get blown up by your penny stocks.
Get this through your plastic crown:
The Fly is God.
I’m out. Have a great weekend, all.
vking is banned
Oh Fly, Can this day get even better….lol…..thank you for a perfect end of a perfect day…
“Oh fly… can this day get even better”…Um yes…Go die in a ditch, that would make the day grand….you’re in the deep end lady. The Fly is really a shark with rockets welded to his fins and laser heat rockets attached to his penis ….shut up or he’ll cut your throat like a easter day pig………………..
Nirvana vid reminds me of the old Colourbox in Pioneer Square. Man that place used to be like a rocket. I remember watching some local grunge thrash band, making a few bucks pool sharking, blowing up condoms and throwing them on the stage, and some pissed hot chick starts sticking her tongue down my throat, to the dismay of her sober friends. Gawd I miss the good ol dayz.
Seattle 1994…
Dallama Türkiye’nin digerlerinden ne farki var bilmiyor musun?
Translate it yourself…
Had a hot girl from Turkey named Cem in my class.
She’s probably wearing a burkha now, poor thing.
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Gotta be careful with those broads, the tryptophan will knock you out!
Burkha? You need to learn about Turkey, turkey.
Typical purdy-douche…
WTF are you talking about? Have you ever been to Turkey, fuck-neck?
I don’t know if they call them Burkhas there (istanbul) but most of the older slugs over there wear some type of head scarving and there are lots with full on burkhas.
You are an asswipe.
Anyone who has access to a computer and cares about world events has long known about Turkey’s increasing Islamicization and the increase in burqa-use even in such secular cities as Istanbul, where Kamal Ataturk established the original secular Turkish state.
(For the record, I believe the burqa is still “officially” restricted for just the reasons Ataturk originally eschewed the restrictions of sharia itself. That said, the actions of Turkey’s current gov’t combined with the country’s long held burqa-dispensation for Islamic tourists has led to a far broader disregard for this ban in today’s Turkey and yes, even Istanbul. Hence my comment)
The Turkish Army — the traditional guardian of Ataturk’s legacy — took (alleged) steps toward overthrowing the increasingly Islamic Erdagon (Sp?) gov’t in late February ’10, in what is now referred to in Turkey as the “Ergenekon Incident.”.
The New York Times’ biases aside, Turkey has been riding a fine line between modernity (“Europeanization”) and Islamic sharia since it’s days as the seat of the Ottoman Empire in the 19th Century. That Erdagon’s government is now sponsoring terrorist (IHH)-backed “relief ships” to run blockades in the mini-terror state of Gaza is not good news for the Western Civ fans among us.
That would exclude our resident Chomskyite.
_________________
LOL. Good boy. Unlike your little flea, you did a little research in order to make yourself look knowledgeable. Unfortunately, your ability to garner facts is not matched by any ability to analyze them. You might say that your hard drive is big and admirably hungry, but your processor is deficient …your “logic” seriously fucked-up.
Resident Chomskyite — I’m hoping you won’t get all Scrooged-faced to find that this is the mere bottom 10% of my brain that I’m using to inform you of facts well known to most semi-educated people.
I’m afraid the other 90% (heck, the marginal 5%) would leave you awash in a vertiginous sweat.
Find an argument that’s factual, semi-responsive and not filled with ad-homs and I may take you to 12, maybe 13.
But slowly, oh so very slowly. I promise.
________________
As always, you don’t know what you’re talking about. You are a mere flea on Jake’s ass.
You Al Jazeera loving, cum-guzlling twat, i cant wait to waterboard you.
You don’t know what you are talking about, save for having lived in Europe amongst Turks, that is.
Dollars to doughnuts our Chomskyite hasn’t been out of his mother’s basement since high school, never mind his home county.
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This is one ugly mutha of a close. Pack your DOW 10,000 hats with mothballs for long term storage, boys.
the voice of reason
add france+uk and you have a pigshit fuk
Spain U.s Cambodia Kzackastan
Mexico Yemen
China, Uk, Netherlands Thailand
Or how about this
Western Europe ‘Russian Empire
France UK/US China Korea England Denmark
Russia Oman, Yemen, Austrailia Lithuania, Latvia, York
OK, 10 points for bob
China
Russia
Austrialia
Portugul
Hungary
Italy
Turkey
Spain
Thailand
Haiti
Europe
France
Antartica
North America
South america
Northern Hemisphere
Ocean
World aliances
Western half of the world
Eastern half of the world
Denmark
Ireland
Eastern Milkyway
Damn it, forgot Japan, US and UK have to start over…. then again “eastern Milkyway” pretty much covers it, lol.
Eggslent.
_
York must die!!
We must take their farging castle!!
We don’t crash from overbought conditions. But do not underestimate the power of governments to make asshat moves. Basically, hedged is the only way to not get raped.
“Overbought?”
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Ribeyes at Sizzler tonight
Don’t kid, that’s Rand’s favorite ‘up-scale’ restaurant.
alpha – if you read this perhaps you can discuss with M. Le Fly about a tab for yourself
thanks
the man left on his own volition to kill bucks in the heartland barehanded.
It’s gonna be tough to get him back, but of course he’s welcome.
Maybe check out my tab, or recent come-up-kid, ChessnWine, who’s been doing a kickass job.
i dont want to be the one to add more worries to your list over the weekend, so i will just sit over there>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
untill monday
V.King has his own game? Impressive.
http://www.uncrate.com/men/gear/outdoor/vking/
That is just too cool. I want one.
I joined the PPT last Wednesday and made my first PPT-Based trades on Monday. I finished this week (of all weeks to start!) up. I am up 2.3% today!
Thanks Fly!!
And thanks to all the veterans in the PPT. You are all extremely generous in your wisdom.
I am also in positive territory after recently becoming distinguished. It was fun being in the green today while everyone around me was in tears about the bleeding market. PPT already paid for itself AND MORE!
Even Lou was bitching about computerized trading back in ’87.
http://www.youtube.com/watch?v=2MyToTwag34
Wow. The futures. wow.
fly pick up your god damn phone….
It Begins http://www.youtube.com/watch?v=Kxb630ipsbs&feature=related
V.King con’t…(sorry fat nymph)
http://www.youtube.com/watch?v=c6bEs3dxjPg&feature=related
Screw you…did half marathon…will be doing full one…..If your east coast your downloading Star Wars You Tube Vids onto a blog on a Friday night…..ahhhhhh says a lot…..
do a full one…then run off a cliff
Yeah it’s friday night and i’m reading and posting on the #1 finacial web site (PPT) which has made me $523,098 in the last 12 months…you’re a dummy…. you’re swinning in the deep end. Shut up and blog your stupid thought’s…it’s just noise until the Fly speaks……..
Hey Nymph
……………………….Do you know what the V.King did when he won the Peanut Gallery the first month he started “blogging”…hmmmm…it doesn’t matter dumb bitch!
This site come’s down to 1 thing……the PPT…It’s gold…I give the Fly credit…I can’t live with-out the PPT…It’s amazing, best thing since porn on the internet…and if you ruin it for me i will………….
Um, aren’t you the only KOPG that actually got kicked out mid-way through for pissing off Fly?
Yeah.
Yep…and your Gravatar is a duck….plus the the fly banned me from his fantasy baseball league like 20X and i still won…so go fuck your hand
I think V King is drunk =)
After the gym closes there is a 89% chance the V.King is drunk…drunk from banking coin
There is nothing to worry about.
Too much noise about nothing.
It’ll be over soon. We’re near oversold in the long tern
Ahh, nah, its Chili’s, tonight, classic serloin, medium. With dos presidentie margarities, arrivaaa…!
Seriously, since i work for reynolds tobacco on the weekends, its good food, and hotels. During the week i work a blue collar job building custom oil field equipment for anyone who can afford it, probably not china.
No offense intended…just taking the piss.
Nymph
You are an asset to this community
And ppt. I apologize for that dipshit vkings behavior. He is being banned as we speak.
Seriously vking, you are a fucking homo.
Indeud,
Nymph is a assert to this scholarly community!!
Fly, No Prob…….I am totally used to it. Anyone that knows me from other blogs are rolling their eyes and saying “how in the fuck does it always happens”?……………………….Not sure why. but someone always go all apeshit all over me everytime……it’s not always a guy either………..I seem to trigger this Crazy Fuck response in certain people…..at first it was all drama, now waste of my time…….he ain’t the first and he won’t be the last….but thanxs for having my back….and thank you Hawaii 5 O and everyone else that stood up for my defense………it is kinda of funny how it always seems to happen…..At this point, they could even all get together and form a Nymph Haters Club and all of them sit together on a Friday Night and cut out little pictures and obsess on why they Hate me so much. and the methods they are going to use to kill me………………..hey, at this point, cuz I liked suffered and all…….can I have a Tiara???
Maybe you need to go back to your original Icelandic Pixie avatar? 😉
And you really should not take offense. V.King is known for lashing out at the most innocent of folks.
Why, the other day he accused the last Republican left in Michigan (I wish he’d turn out the lights) of being a leftist.
It’s the dianabol and vodka cocktails, I think
_____________
That was in fact one of the most hilarious attacks I’ve seen in some time. MCT a leftist? I don’t ever recall him being confused with a blue dog, but that might be understandable. I don’t agree with the turn out the lights though. Remember, the failures of capitalism always feed the next successes.
From hereon
An attack on a fellow ppt member is equal to an attack on le fly, which, as u know, is punishable by death.
[Murron is tied to a post about to be executed]
Magistrate: “All of you know full well, the great pains I’ve always taken never to be too strict, too rigid with the application of our laws, and as a consequence, have we not learned to live together in relative peace and harmony, huh? And this day’s lawlessness is how you repay my leniency. Well you leave me with little choice. An assault on the king’s soldiers is the same as an assault on the king himself.”
[slits Murron’s throat]
Is Purdouche in the PPT?
Are you kidding?
________
“From hereon
An attack on a fellow ppt member is equal to an attack on le fly, which, as u know, is punishable by death.”
Glancing at that quickly, for a second I though the first line was “From Heron” and I thought you might have replaced R.W. Pelican with a Heron as head of security.
First Lieutenant Heron is an accomplished XO, but only “waiting in the wings” as it were, to see if RW can get de-lubricated in time to return to his regular duties.
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And that may not be any time soon, unfortunately.
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LOL. Just for that, Lawrence, I’ll ask the DA to let you off with a warning this time. Be sure to check the young lady’s driver’s license next time.
Awshit, my phone is ringing..ITS RW PELICAN!!
He is giving me instructions on feeding gators..with vikings!
Hmm.. Tough yet delictable. Perfect.
Just like BP personel!
Aw well, since i am in louisiana..any names you would like to add boss?
So says RW as well!
RW is giving thumbs down( wings).
As executioner, my job is to find a place.. Tje marches along route 27 to cameron along the creole trail has been chosen by RW.
An oily bath followed by flames..ah, a campfire!
Who is bringing smores??
I think I saw a pic of RW covered in oil on the front page of the paper.
http://www.youtube.com/watch?v=lQJFv9SMSMQ
That old guy is the V.King, you know.
________
That guy is a serial shit disturber – there’s a video somewhere of him getting tossed out of a SF Giants game !
I would never mess with that old guy!
G-20 leaders are not going to deploy new capital requirements on banks anytime soon, Hungary says they can handle deficit without default, South Korea says no chance of war with the north and Israel is playing nice in Gaza.
I think there is peace on Earth.
So glad i loaded up the FASit card going into the close on Friday.
Way overblown ready for a bounce.
All we need now is stop the oil from pouring into the Gulf
This video has strange humor
My neighbor’s son owns a BP station. His business is off over 30% . He’s seriously considering pulling the plug.
Le Fly you are going to have your hands full w/nymph having seen her in action over the years it is safe to say Jim Cramer is ecstatic at her latching onto you she did everything including waving her thong online to get his attention and this was also on the paid site My advise is to just give her the god damn tiara already and call it good maybe V King was an omen?
known for her shots of Patron while wearing a tiara
heed the warning of VKING!!
before long she’ll be tracking when you take your morning dump
cleaning the shit off her face proudly!
before long, Fly, she’ll be answering for you
VKING has the NYMPH’S # down
Patron tiaraed an all!!!
I really just shit my pants while cheering to VKING
a little vomit too
VKING RULES!!!!!!!!!!!!!!!!
VKING
Thanks
I’ll read everything you post from here on
You have just gained ultimate respect from me
WTF????
Leave her alone. Jesus.
tradingnymph says:
June 4, 2010 at 4:32 pm
Oh Fly, Can this day get even better….lol…..thank you for a perfect end of a perfect day…
be careful, Fly!
You called out an original member and Nynph could not be happier.WTF
that’s a bunch of piss up a rope!!
chanci:
I might have taken you more serious if you had added Mary and Joseph.
Go take a chance at something else!
For Macmallan ~
Add: Mary and Joseph.
pretty sure she has an orgasm everytime Fly responds
triple orgasm when he defends her
VKING rules!!!!
ask your nemesis
It’s my fault for even being on the internet at this hour on a Sat night. What did I expect?
But to deliberately bully a girl who is trying to learn and contribute, shame on you Macmallan. You don’t approve of her, you made your point.
After that it is bullying, and deliberately trying to hurt her. WTF? Is that you goal?
Macallan is banned
LOL. MacAllan. Next he’ll show up as LePhroige.(sic).
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