I bought 25,000 FAZ @ $15.30 and took 12% of my assets and dumped it, mind you, into VXX, sub $28. The purpose of these trades are not to “make a killing” like some other bearshitters out there, but to protect what I have. With year to date gains now swelled above 34%, I do not need to make a killing anymore, for I have already feasted on the bones of my enemies.
So, taking notice from The PPT aka “motherfucking time machine”, I stepped aside and hedged up. Additionally, I sold out of the OEH that I bought earlier, for a nifty .30 profit.
Just so you know where I am coming from, at the highs of today’s tape, The PPT registered an extreme OVERBOUGHT reading of 3.32. Granted, there have been instances when the reading has been OVERBOUGHT and we proceeded to burn higher. However, more often than not, this shit is razor thin sharp accurate. Plus anyway, the bulk of PPT misreads occurred just before the market took an unprecedented 1 day dump out of 1,000 Dow points. That’ll learn ya for ignorin’ these here internets.
In short, I win again.
[youtube:http://www.youtube.com/watch?v=KMa8MH3yo2Y 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
indeud.com
Fly, when are you getting back into GMCR? K-cups are still ripping no?
Late 3rd QT.
hey Fly, We GOT ya today!
🙂
Yes, indeud. PPT wins again.
pHukin-A! The PPT sees all, and this face-pHuked market is due to puke on itself a few more times before it decides if it has the balls to take out all the overhead resistance holding it down.
Unless emerging markets drop 9% from here—-it is literally impossible for us to begin a new market crash cycle. The Bric nations have bounced 3 times as hard as almost every other sector since the lows in may.
Short biased fund managers will be in an absolute panic by august. It’s now clear that there will be a rebublican victory in november congressional elections. When that happened in the 90’s, it set off a four year rally.
who said crash? you people are so fucking dramatic.
Sorry , Fly, that wasn’t directed to you.
I was referring to the legions of perma-bearish doom statements im seeing on twitter, comments section, and TV. I agree with hedging here near term.
The best hedge, however, Is to invest in collectibles: Faberge Eggs, Rare books, and Anti-Tank rifles.
http://www.anzioironworks.com/MAG-FED-20MM-RIFLE.htm
It’s not the 90’s. If Gingrichian restraints were put on Bushbama profligacy, the market would tank big time. The market wants to party on as long as our creditor countries let us.
DEMONCAT!!
Who r u?
http://www.breitbart.tv/congressman-assaults-student-on-washington-sidewalk/
That’s just funny
He’s just fucking drunk!
Signed up for the PPT to take it for a ride … Just to see what the fuss is all about and signed up for the intra day hybrid score update and I must say quite surprised …… the upgrade to chart the thing intra days would be amazing and I would definitely join the upper class gentleman status if that happens.
Thanks. For now, we need people in the engine room, shoveling coal into the ovens.
3 words = space alien magician
It’s actually only two since you have a space in it.
We may have a down day tomorrow, but this should be a long rally week. The trend has changed if you look at the McClellan Summation Index. Only a trend change failure/head fake can screw this up and this happened a few times recently. Be on guard. Another week or two we’ll know 100% which way this market is headed, and then it’s time to go all in.
I believe you mean to say that in another week or two, we’ll know 100% which way this market went.
Lol. Well said Mr. Thaler 🙂
Exactly.
Lots of people advocating sitting on the sidelines and there is a lot of benefit to that. However, at some point you gotta man up and take a side.
has anybody heard if the govt is extending the 8% first time home buyers credit
I just sold a house in May in New York and asked my realtor
if it was going to be extended and he said no way.
ty
Fly,
How are the spreads looking for our old friend MET? I loved that piece of shit when we were going down. Miss it lots.
The Fly is transcending space and time in his fucking space rocket making bold market calls while you’re playing with your dick in some bullshit covered wagon, trying to fjord the Snake River.
Thank you for this post. I see your focus on hedging instead of riding a downtrending market.
Jesus ladies, the mkt went up to resistance from 6/3 high and the 200 day, then pulled back after being up 6% from its 4-day-ago low. Shocking.
Signed up for the PPT Saturday, made 12x my investment back already by closing some longs today and hedging the rest before the reversal. Woot.
Of course, i realize we could open up 3% tomorrow negating said gains, but for now that is the case.
Movie futures just approved! The degenerate gamblers have something else to bet on! Woohoo!
I’ll go long anything directed by Todd Phillips or Christopher Nolan.
Easy $$$.
The Fly is God.
Coen Bros. Easy money.
_____
Fly,
How do you hedge this?
http://www.reuters.com/article/idUSN1422565120100614
Long couches, doritos, self-hate
You don’t. Pay your share you greedy cocksuckers.
“Oil Volcano” post in the PPT Forum.
Stay hedged….maybe forever…
Excellent read, Alphadawgg (albeit incredibly scary scenario). It certainly explains why you are such a legend around here. Glad you’re back!
hey fly, why don’t you fuck off
Raised cash to 30% with the failed attempt to break the 1107 pivot and the PPT overbought reading … will be happy to buy the same stocks back lower.
how much lower?
they are already “lower”
My 2 years old son dropped 10 pieces of paper on my bed, 7 of which fell on top and 3 on the floor. Five of the 7 said “market up tomorrow, close above 200 line”.
And for this I charge you nothing.
In exchange, I admit I *may* accept an invitation to study this PPT scheme of yours for free for one month, two at the most… -I am busy-. AND, contingent to my toddler dropping more “I accept” paper bits on the bed than otherwise.
As 10 cans of corn are dropped on your bed, you are invited to fuck them all.
ha…
Taking yourself too seriously?
Watch out or you may run the risk of making my swollen hordeolum pop with the subsequent splash of nasty staphylococcal all over your face.
May you all make coin tomorrow.
newest blog. http://ibankcoin.com/king_of_the_pg/
With the PPT, you’ll always land on your feet
http://www.youtube.com/watch?v=IiXMHLTZxkY&feature=related