Some of you fuckers are incapable of making your own breakfasts. How the fuck do you expect to bank coin in the murky waters of Wall Street?
Going with my gut, during today’s session, I went “full retard” in my personal accounts, betting on a decline. Every so often, I get “super fucker” aggressive with my personal money, specifically because I have money to burn, bitch. And, I am never wrong, nor do I lose. Like I said, I’m tilted head moronic retard, long VXX/TZA into tomorrow’s love fest.
For clients, all very prim and proper, yachting, super duper bow tie fucker serious people, I made them lean short into the bell. Not so much different than the Tower of Pisa, those fuckers are leaning one way, if you know what I mean. I sold most of PKX, which was a core position up until today. And, I bellied up to the bar, gobbling up more VXX like fish eat oil.
You all have theories about inflation versus deflation. For example, Mr. Gint has been 100% correct about gold. However, that shit has ZERO to do with inflation. That has become an end of days trade. If there was real inflation, TLT would be significantly lower. Motherfuckers, we’re entering the Deflationary Vortex.
See below for illustration.
Titled: Enter the Vortex, I Insist
Fly, 2010
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I bid $1M for that beautiful illustration!
DECLINED
They will be classics one day…
It lacks a stick figure so it will be less valuable than the others. Bermnanke says he will bring about inflation – next stop – no more interest to banks on their deposits with the Fed – they will be forced to lend.
wait for deflation
PPT Distinguished Gentlemen should get a numbered and signed print of this beautiful piece
I offered one to family members but they said their walls weren’t pretty enough.
Dude. We are so already there, cept for the $3 trillion large ponied up by Bernanke. In 3-5 years, maybe sooner, you’ll get a 2-3% 30 year mortgage.
agreed
Does that make IYR a strong buy?
Nope. The reason that mortgage rates will be that low is that there has been no recovery.
Le fly,
I think im finally getting it. Joining the ppt tomorrow! Hope i am #1000!
That’s great Jason- we’ll see you there. Take some time in the forum threads as soon as you can to get some quick orientation to the PPT scores and other topics. Glad to have you join us! Lindsay
whats a woman doing in the ppt, is a kitchen located within its glorious halls?
Fly, other than losing some cash were you shorting anything when the dot com bubble burst ?
if we continue to plunge here, are you going to stick to the inverse ETFs or are you gonna hit short a specific sector?
Thanks!
I was short a lot of stocks. But, basically, it didn’t matter. I was raped 10 x over on longs. Those fuckers dropped like stones. I haven’t lost money since then.
Hey Fly:
Speaking about the dotcom bubble bursting, are you ever going to finish your story about your young trading days as a broker. You had a couple of interesting stories, one of which was about a guy who shorted everything and said he was urban fucking fabulous or something like that?
As I recall, you left the ending to another day.
You might be able to find the story via the search function. Believe said trader’s nickname was “Ghetto Fab”. Great story.
How much will the bacon cheeseburgers cost? One day inflation next day deflation? This is throwing off my retirement calculations.
$19,000 or $2?
Good question
Looking at my deflationary vortex handbook, a bacon cheeseburger will cost just 3 cents.
ha….
love it.
As long as they can maintain a 40% margin and can get Americans to eat 100 burgers per day (with add-on sales of course), great.
BTW: I made french toast for breakfast with homegrown blueberries mashed in 100% maple syrup. I say this no only because you brought it up first, but because I highly recommend blueberry bushes, even if they are in containers on your bourgeoisie balcony. You need two different varieties for them to produce heavily, but they are easy and loaded with berries that ripen at different times; ideal for breakfast in yogurt, cereal, with pancakes & waffles, in muffins, or just to eat naked and feel that all is ‘right’ in the world.
I’d like to go long 1000000 shares of hurricane season f’ing up BP’s cleanup efforts. Ticker RAINOIL
I bought my first stock in the dot-com days… Some company called monsterdaata, I had no idea what they did, something with real estate, but they had a WEBSITE.
3 cents? Bacon cheeseburger?
I’m gonna be a fat mofo one day.
That might imply that your kids are very likely making no more than .10 per day flipping those burgers.
Nah… rain or shine there’s always away to make money. I plan on buying those burgers with the soon to be rare $100 bill.
Thanks lindsay! Looking forward to it. Wow, to finally become distinguished. Very exciting
Blitzed
I will pick up my memoirs when it gets slow
Looking forward to it. Something tells me the next couple of months are not going to be slow.
Wow, I think this puts the enormity of the spill in better perspective for me.
http://blogs.discovermagazine.com/badastronomy/2010/06/22/damn/
Great picture.
The soul vortex precedes the market vortex, or do I have that backwards?
I can fairly say that we have a soul vortex in.the White house.
Hang in there, folks, soon we will have a new tiller-man.
God bless America.
Can’t no new tiller-man steer us out of the vortex….
Not a Vortex but a Stupid China Copper bubble popping. For over a year I had to watch the imbalance of Copper to China and kept saying “China Govt please stop lending money so everyone can speculate in Equities, Copper, F/X, Properties, weekends at the Casino”….but nope, they never stopped it. All the dumb fucks on Wall Street said OMG Copper is rising, we have Green Shoots, lets go buy tech, etc. Now China has 3 times the copper it needs, Iron Ore is a mess too, China Govt stopped the loans and looking into “Illegal Govt Activity”……this bubble has to pop and it won’t be pretty….and omg it took like forever. Big lesson for me and Bubble 101 ala 2009
So nymph,
What are you saying? Near term…long term, etc.
Break it down… you are always very good at the detail, but what does it mean?
We be going up, down or sideways?
Hawaii 5 0, Major Trend is down, April was our high. Apple hit it’s high on Monday. We could chop and grab for hope around July 23ish and August 23ish…but the trend is down. Our bottom will only come once we see either Copper dropping under 2 in price and/or the China Govt coming in buying for it’s Stratgic Reserve, that will be next year or so…..Short term…as I posted in my article last Thurs high of range is 1124 and low is 1054ish…normally we like to chop before FOMC so sideways in the morning..and watch if Hope wants to take one last stand in the Afternoon….but trend is down.
or easier…Down at Open, attempted rally at about 11:30est…sideways into 2 pm est….flip a coin when FOMC is released…..that’s short term… Long Term… Down.
what are you kicking in your avatar nymph?
“stupid analysts” of course!
nain
I think she kickass dow rallies fairlytales
lol….both….cuz normally it’s the stupid analyst that are telling the fairytales.
“Wrong.” For the record.
Apple typically sells off for a week to a month after a new product is introduced. Same thing here with the new Iphone.
We will see, but I stick to my King of Peanut gallery article on Monday regarding Apple.
yen spiking again (at time of this post)
Drill, baby, drill! Oh no, all those people are going to have to move. Get ready for American Civil War part 2. Coming soon to shopping mall near you.
http://blogs.discovermagazine.com/badastronomy/2010/06/22/damn/
The upside movement is strong for today. Should finish around 10450 after the FED speak.
So if the 30-yr is going to 2% within 3-5 years, why aren’t we buying bonds, collecting our 4%, and waiting for the 50% jump in prices?
Ummm, we are!! Have you seen tlt recently?
OK, I thought you sold all of your TLT?
The market is once again acting like a Homosexual (not that there is anything wrong with that) Opera.
Lots of prancing and sashaying around and plenty of in and out action by traders.
The predicted downside crash din’t (sic) happen, as this BB continues
super-schizo, awaiting a big move before claiming how they caught the move.
Bullish-bearish-bvullish-bearish – a half day at a time.
How are readers of this blog supposed to glean ANYTHING?
We are the gentlemen and women of the PPT. That’s how. We trade what we see and see what we trade. It’s quite simple. That is all.
I agree that this is currently deflationary scenario but hypothetically, in global inflation scenario, isn’t it the “lesser of two evils” going to win? Wouldn’t the dollar still go up if every other nation on the earth had inflation at a greater rate than the US? What I think this is, is temporary deflation in every nation at once, and people are moving to saftey, but that won’t last forever.
Dollar WAS king during deflation during the depression, but that was when the dollar was gold. Now dollar is debt. Not something to own when soverign debt is defaulting around the world and the dollar is not immune to it. First everyone is going to want to jump into treasuries as people fear euro collapse, spain collapse, france, japan, etc. But eventually no one is going to want to jump into US treasuries as some even think the US is in just as much at risk of default in the future as Greece, but unlike Greece, the US is a much smaller economy and it is difficult to bail them out like they did with Greece.
The US can postpone default by going into hyperinflation IF they no longer have countries like Japan and China going into debt and the money and debt stays domestic. They can go into war to take out the people they owe, or they can default. Generally before hyperinflation you have a massive government spending to try to defend the mass deflationary rush and keep the debt monster growing and keep the system going. We are at risk of hyperinflation starting sometime in 2011 after deflation goes nuts on everyone around the world.
Weird thing is, people seem to move into stocks as a flight to quality since cash and bonds are no good. There’s still a chance that US postpones this long enough to get through all the mortgage resets. Once we get through the worst of that housing can return and everything can boom again, if we can handle our shit.
So much for the “bounce” this morning
Dr. Fly versus Dr. Ben:
In 2002, when the word “deflation” began appearing in the business news, Bernanke gave a speech about deflation.[52] In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money. Control of the means of production for money implies that the government can always avoid deflation by simply issuing more money. He said “The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost.”
I like the Fly, but Ben controls the print button. Give me an ‘I”, Give me an “N”…..
Judge in texas, or southern dist., reversed oil driling ban! Let there be oil.
Welcome to yesterday
Long SMH @ 27.61.
DOW 9K.
For the record, that black smoke you see is from Le Fly’s mug. The white smoke is from the back tires of my FAZmobile, as I do donuts in the middle of running bulls while high-fiving Michael VXX.
It’s interesting how everyone votes for politicians according to their ideology, which a lot of the politicians only say they believe in because they think it will get them votes. And even if they do believe in what they say, it doesn’t matter anyway. Because the results we get politically depend almost entirely on how corrupt the elected politicians are– not on what their ideologies are. Results depend on the degree to which the politicians let their campaign financiers (including Wall Street, oil companies, big unions etc.) feed at the public trough in various ways, thus allowing them to rob and r*pe the public.
The fly is spot on.