Most of you ham and eggers panicked the fuck out of the market, aka “the kitchen”, when the heat was turned up a notch this morning. You had visions of dramatic, opera-esque, reversals, under a shit heap of sell order. Lo and behold, after “rookie time” (9:30-10) ended, we are now melting higher again.
Some are built for this shit. I acknowledge the supreme trading abilities of many in my inner circle, including the gentlemen inside of The PPT aka “my work bench.” However, most of you should play your position, which is the bench—sadly enough. Hire a financial advisor or throw some money in a hedge fund, for you are simply spinning your wheels. Life is too fucking short to waste time on stuff that you can’t do.
For example: “The Fly” doesn’t fuck with sheet rock or paint ceilings. That shit is tedious and requires some skill, if done right. I hire “illegal Mexicans” to do that shit for me.
Do yourself a favor and hire an “illegal Mexican” to trade your accounts. He can probably do a better job than your jaded ass.
Back to the markets:
The “buy the dip” mentality has permeated investor psyche again. Fuck the retail sales numbers. All I care about is price action. Do you hear me, you dumb motherfucker?
In short, until further notice, X, FLS, SHLD and MWW are going higher—and are my top picks.
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FLY is DOG.
Super Dog
we’ve been on the same page ever since i found your most amusing site. today it seems, we have divergent views. good luck to the both of us.
“FLY is DOG”
That reminds me:
What does a dyslexic, agnostic insomniac do at night? Answ: Stays up wondering if there’s a dog.
NIce call yesterday Fly, however, long term is still bearish to me. We will GET YOU.
Love that PCP too
I hired an illegal mexican-romanian 3 legged monkey to trade my accounts and he is doing very well fuck you very much
(snif!)
Mine is fully licensed!
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My post after the open today: “Futures pointing down and the financial news headlines in the US have done a 180…. however, my breadth system is showing that there’s a high probability we shrug off the negativity by the end of the day and rally again.”
If I had money in the market from yesterday, I would have been dumping some, too. But I didn’t, so I could see this action for what it was. Funny how emotion clouds perception and the ability to make money.
IMO only: This bottom still isn’t rock solid. We’ll need far more momentum than this to drag the market back up from here. Let’s see how it plays out. This could take several days. The time frame I refer to is the weekly trend.
I’m taking nibbles on oil plays, but that’s about it.
“If I had money in the market from yesterday, I would have been dumping some, too. But I didn’t, so I could see this action for what it was. Funny how emotion clouds perception and the ability to make money.”
Welcome to trading.
The day is not over folks. The market is giving back as we speak.
That was mighty fine market read, if I might say. Profitable, too. Monday is an UP day.
Mr. Fly,
Just hopped in to read your blog. As always, I am in awe.
Oh. And I am a vegetarian frog, so I hope you will continue to allow me to read your blogs, even though I’m not worthy.
Bp is an awesome company
BP = Fortune Cookie
Fly..I was reading a local blog….a PR lady was saying CNBC sells most of those interviews throughout the day on a rate card 10ger a pop. Is that true? Can’t believe they charge the Pimco or Black Rock homos and the like? I really am a rube…go right ahead and milk me.
Thanks Herr Fly. Very nice pick of TNA. I bought some also and just sold it at around 10:10 am.
Does the PPT works intra day?
It works all the time, brother. Non-stop fun.
Al,
I have a trade on intra day based on the relationship between Hybrid and S&P. That trade is currently up 16 handles on the S&P since Monday.
Me too. Bought some BP yesterday. Awesome company, brought down a president.
The Prezident is smarht. See how smrht I am?
Abolutely!
Well said sir.
The market panics, then the real plunge protection team keeps buying the dips, then the markets fade the real PPT, offering the PPT lower prices. The battle continues.
Key in on the NASDAQ today.
If it’s looking up nicely in the last 1/2 hour, and the Dow and S&P are at least flat to up, there’s your confirmation that we’re going higher.
The Q’s are the tell.
Lock n load.
I just get the feeling we will not shit out. LQD has been holding up well and JNK and HYG have been firming.
Does anyone else think we’ll see more companies doing stock buybacks as a result of strong FCF and cash on balance sheet? Some seem hesitant about restocking inventories and hiring while others have done capex on tech upgrades. Maybe they’ll just go TYCO and have million dollar Roman parties featuring paintball sessions with the Aborigines.
How much coin would I need to have in my name to be able to bang a girl like CNBC’s Amanda Drury? She is so hot!
See?….this is exactly why you don’t make money trading.
Turn off the galacticly stupid CNBC noise!
Sheesh!
Oh, yeah! She IS hot!
Click.
LOL. For the record, I keep CNBC muted all day (for the tickers and in case an interesting guest comes on)…just noticed she is looking extra fine today for some reason!
For a CNBC type girl you gotta be cool. You can’t buy cool.
Slug — is this your new moniker/avatar?
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Euro and Yen playing WWE tug of war, as the EUR/JPY cross is basically unchanged.
We’ll see who the stronger and taller midget is by the end of trading.
Where’s Jake with his “dollars for doughnuts it’s Goldman Sachs” lead underwriter for the GM IPO?
Regardless they all get rich on this deal, albeit not as much as if it were not being sold by the US Govt
nailed this weeks oil top bitches…. 76.30…. made a nice tidy 15% this week.
dude, i understand despising these fools, and not wanting to hear a pip from them, but are you not aware that they are paying my account and hopefully yours too? the last thing i want is those loser retards to read this and then go kill themself, or worse – close their trading account and go get a job at subway. jk but really like the musing and was my exact feelings this morning when i heard some idiot say ‘good morning for QID’, i thought, yes good morning for you and every idiot like you to make a donation
Sometimes, Mr Fly, your posts anger me as this one did. Mainly, unfortunately, because you are, as usual, spot on.
It saddens me how right you are sometimes. Not as much as it saddens me to admit it.
Good luck Sir, hope you continue to blaze a trail.
What are you all looking at? Intraday charts? You are dillusional. But without chumps like you, the big moves wouldn’t be so big. Thanks in advance.
Btw, fly – Shld looks like ass. Ill give you monster in very short run.