iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,430 Blog Posts

Yen Masters

I can’t wait until hurricane season. With BP lighting oil aflame in the GOM and hurricane season coming, I look forward to hurricanes made from pure fire, ripping through Texas—as part of the Obama Administration’s “scorched Earth” policy. I can see it now, CAT 5 inferno, fueled by BP‘s very best light sweet, burning down the city of Houston—INSTANT CREMATION style. Sure, I see some of you “value shoppers” nibbling on BP/RIG down here, ever so charmingly. However, did it ever occur to you that they have no fucking idea what they are doing and the well will never be shut down? Well, answer me boy, has it?

There is a tomato glut in this country, but a shortage of coffee beans. As you can see, we know how to “prioritize” shit here, unlike those grass eating Greeks. In my estimation, there is not one thing that is desirable about descending from the great continent of Europe. I know they operate under the banner of leisure and tend to stray away from harsh chemicals, such as deodorant. However, they smoke too many cigarettes and drink too much at the dinner table. A bunch of stumbling alcoholics with lung cancer they are. A real plague to the world, in every meaning of the word(s).

Which brings me to my next point. How much Yen is being shuffled around Europe right now? I suspect the Europeans are the main players in this Yen carry trade, by a large degree. It’s no surprise to see the Yen/Euro relationship control this market, down to the last tick. It’s almost as if the fellows from Bank of Japan are the slave masters of the mustached men, dressed in tight fancy pants, smoking Le cigarettes.

In other words, Yen up, Euro down—head for the hills Jack.

With my money, I am decidedly undecided. I am allowed to do that, no? I like the action in GS, HEAT and SD. Aside from that, this market can go to fucking hell on top of a fucking unicorn, for all I care.

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47 comments

  1. slim

    Yen will continue to be Bernanke’s whipping boy. Nothing but aces from here.

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  2. JuiceyFruit

    Well said … I think

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  3. Random Punk

    I’m waiting for $GS to make a call on Yen before I make the plunge….seeing as how they called the Euro at 1.15 when it was 1.20 and is now…1…23+ and climbing….opposites do attract

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  4. sniper6

    “tend to stray away from harsh chemicals, such as deodorant”

    Treu-er words were never written

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  5. rookie

    today the euro/yen aka the leaders of this market say we go down a bit from here. the /es and euro/yen only decouple for so long.

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  6. DMG

    Good stuff –
    though, i prefer the term ‘mustachioed’.

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  7. Unwashed Mass

    This leaking well is World Trade Center 7.1. There’s an environmental agenda to be fulfilled and 192 countries have already signed up for it. The insignificant concerns of the unwashed masses are made to dance like paper marionettes in a bonfire. We, the stupid masses, sign up for the drama they present, we get our panties in a bind, and then we vote as we are “guided” to do so. People like me will be stabbed in the heart by my own brainwashed children — out with the old, in with the new.

    That said, we are skipping along a market bottom right now. Gold appears to be going up just so it can be manipulated and slammed back down, destroying any hopes that there’s a place to put your money when the US dollar gets hyperinflated.

    Have a nice day 😉

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    • Cascadian

      It’s good BP caused the leak and not XON. If it were Exxon, nobody in the rest of the world would give a shit. They’s say we deserved it. Now we look all mean for going after a Brit/Euro company.

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  8. Kreizi

    GS is even more informative. Perfect contrarian indicator in this gay market.

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  9. scott

    A brilliant Friday missive…bravo!

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  10. jimmie

    The market will be up big today for the precise reason that the boat is listing too far to one side due to the fact allah is a lesbian.

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  11. Le Fly

    Good thinkinh jimmie.

    Hey why do you spell it jimmie and not jimmy? It’s almost as if you want to pluralize your name, like jimmies. That’s some retarded shit right there.

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    • jimmie

      I am retarded

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      • slim

        Slim jimmies, banking more of Fly’s coin…

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      • JC

        Think nothing of it Jimmieee. Every one here is a little touched by retardation, except me of course 🙂

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    • Teahouse On The Tracks
      Teahouse On The Tracks

      Jimy is even more curious as in former Red Sox Manager Jimy Williams, no?

      Isn’t that pronounced Jie-mee?

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  12. JC

    Good post, le fly.

    I think you have the Yen thingi down pat. That’s all i look at too.

    I have one qualification on the comment about Yen though.

    Which brings me to my next point. How much Yen is being shuffled around Europe right now? I suspect the Europeans are the main players in this Yen carry trade, by a large degree.

    I don’t think it’s the Europeans. I think it’s the Japanese moving the money. Think of Japan not as a fully functional economy even in this day and age of dysfunctional economies.

    Think of that shit hole as a pot of money. In stressful times that pot of money (their accumulated surplus) gets moved around either domestically or around the world when the risk appetite jaws are opening. Being possibly the worst investors the world has ever known, they moved that money into Europe all through 2008, 2009 and a part of 2010 and out of the US, as conventional wisdom was telling them the US was going to hell. Like robots they moved the money in unison.

    When they realized that the US wasn’t going to Dante’s 9th circle of hell but Europe was they started to move money back home, which is why you saw that sack of shit currency (da Yen) strengthen both against the Euro and the Dollar to a lesser extent.

    The Europeans like any other almost normal human beings wouldn’t have much invested over there. In fact I think Japan has one of the smallest exposures of foreign ownership in the world, with good reason, as it place is going broke. Broke before anyone else.

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  13. panamaorange

    Positioning 25% of portfolio into long VXX at 24.70.

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  14. Carsony

    There…must be some kind of way out of here..

    Ace

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  15. Bullish

    Fly,
    Question regarding your disaster theory…
    How does Key West look? Any chance they will be burnt to the ground as well? Considering I just paid for a mid July vacation for myself and the Mrs… should I cancel and vacation in Alaska instead?

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  16. jimmy

    Does anybody know where I can find a coin bankers anonymous meeting?

    I’ve been banking so much coin I feel extremely guilty.

    Thanks in advance ~!

    🙂

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  17. Fly Leech

    Master Fly,

    Please don’t hate me for my value shopping on BP. Hate me for what I am, a leech. It became obvious that Obama was talking out of both sides of his mouth when he gave his support to BP a few days ago. The British “pensioners” were getting upset and I’m sure their prime minister had something to say as well. Their beloved company is too big to fail, no matter how much they continue to fail. Hate brought the price down and stupidity will help it rise.

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  18. Le Fly

    [email protected] west vaca. Enjoy the oil

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    • Bullish

      Is that why I got such a good deal?
      They even threw in a free key chain.

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  19. The_Real_Hmmm

    I feel like making a bold call today, like a man declaring he’ll eat a dozen habanero chilies and tweet his reactions while driving a motorcycle helmetless over a yeast infection. ABX will make a short term top today, perhaps with the rest of gold.

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  20. tradingnymph

    What is fun is that we have LAME upgrades in First Solar and a Shanghai Comp that slid
    1.8% down and is w/in a pt of testing recent lows…Shanghai Copper was down BIG too AFTER
    coming back from a 3 day holiday….OMG doesn’t any body see how RETARDED this all is.

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  21. xochi

    People are gullible fools (Fly is right about hope for stopping the spew):

    http://www.examiner.com/x-33986-Political-Spin-Examiner~y2010m6d17-Expert-says-BP-relief-well-has-zero-chance-of-working-despite-CEO-Tony-Haywards-testimony

    The pressure is uncontainable. Does not matter how many freaking holes you drill into it!

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    • Canetti

      Back in the H1N1 days a few months ago, examiner.com had all sorts of articles about H1N1 mutating into a super lethal flu immune to all current vaccines, and reported on victims in Europe whose lungs had actually become charred after the flu caused enough heat to be generated to literally boil tissue.

      In other words, if you source is examiner.com, I think you need to find a more reputable source. These guys are, at best, well-meaning clowns.

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    • Po Pimp

      Someone needs to tell this Matthew Simmons fuckhead that his 15 minutes of fame are up. They are not going to nuke this fucking well no matter how bad he wants it to happen.

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  22. The Zombie

    USA USA USA!!!

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  23. panamaorange

    Out VXX long position from 24.70 at 25.12. It probably goes higher, but im already 25% short Nasdaq. Days like this require precise moves.

    http://www.youtube.com/watch?v=OLUGBujl2-0

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  24. The Zombie

    We just got so robbed!! Was that offsides??? Bull shit! Terrible call! US should have been up 3-2. Loving this new iphone IBC app.

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  25. tradingnymph

    BoJ minutes from last night http://www.boj.or.jp/en/type/release/teiki/giji/g100510.pdf

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  26. StocksRider

    Check this link out. No matter what side of the aisle you are at, it is quite resonating
    http://www.thedailyshow.com/watch/wed-june-16-2010/an-energy-independent-future

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  27. No One

    bot vxx

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  28. dave

    The goal is keeping up with the money flow as it flees one country/industry/currency in favor of another in the great musical chair clusterfuck. One day the unicorn will have the entire pot of gold and proceed to take a big shit in it. Fuck you unicorn.

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  29. Muir

    “I can’t wait until hurricane season. With BP lighting oil aflame in the GOM and hurricane season coming, I look forward to hurricanes made from pure fire, ripping through Texas—as part of the Obama Administration’s “scorched Earth” policy. I can see it now, CAT 5 inferno, fueled by BP’s very best light sweet, burning down the city of Houston—INSTANT CREMATION style. Sure, I see some of you “value shoppers” nibbling on BP/RIG down here, ever so charmingly. However, did it ever occur to you that they have no fucking idea what they are doing and the well will never be shut down? Well, answer me boy, has it?

    There is a tomato glut in this country, but a shortage of coffee beans. As you can see, we know how to “prioritize” shit here, unlike those grass eating Greeks. In my estimation, there is not one thing that is desirable about descending from the great continent of Europe. I know they operate under the banner of leisure and tend to stray away from harsh chemicals, such as deodorant. However, they smoke too many cigarettes and drink too much at the dinner table. A bunch of stumbling alcoholics with lung cancer they are. A real plague to the world, in every meaning of the word(s).

    Which brings me to my next point. How much Yen is being shuffled around Europe right now? I suspect the Europeans are the main players in this Yen carry trade, by a large degree. It’s no surprise to see the Yen/Euro relationship control this market, down to the last tick. It’s almost as if the fellows from Bank of Japan are the slave masters of the mustached men, dressed in tight fancy pants, smoking Le cigarettes. ”
    _______

    PRICELESS

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