Do not believe for a solitary moment the market will let you rest. Do not think you can go on vacation and not fall victim to extraordinary swings in your bullshit account value. Ever so quietly, CDS spreads have been widening for Ireland, Italy, Argentina, alongside a host of other third world countries. As the sense of recovery wanes, investors will continue to bug the fuck out, like Gremlins eating after midnight.
To counterbalance the pervasive and ever so cumbersome realities of “news,” markets are being buoyed by insidious governmental agencies, in order to keep the ball rolling downhill. Most money managers are willing to turn a blind eye to “news,” as long as valuations meet their criteria. You will find a much more objective group of managers in the hedge fund world. However, due to their over-cautiousness, most will underperform. For the first time in awhile, the advantage is in the court of the average retail investor.
Gone are the days when information was exclusive to a few fucktards on Wall Street. You no longer have to soil yourself when the markets nosedive 1,000 points inside of a short 30 minutes. Thanks to a myriad of leveraged ETF’s, you can execute short sales in a blink of an eye. If you have enough time and dedication, you can do better than the assholes who declare themselves “investment gurus” on the teevee and take your little bullshit Zeeco account and turn it into something meaningful. Naturally, being a proud member of The PPT will help a great deal.
If you are serious about making a living out of trading/investing, invest in your business. Do not get 2nd rate equipment and data resources. Do yourself a favor and buy the best, in order to get an edge. Wear a top hat to work, if it makes you feel better about yourself.
Bottom line: “Brilliant” money managers are bragging about 2% YTD gains. I piss on that and them. Do better and be sure to boast about your victories whenever the opportunity arises.
Top picks: VXX, TNA (go fish)
This pretty much sums up today’s market action
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hmmm, nice
Hazaa!
FI… Oh who am I kidding, I hate sucking up. But nice post Monsieur Fly.
This market sucks.
I’m hunkering down. Need to get out of my TNA first.
what do you think about TNA now Noodle?
Everything will be profitable for 15 minutes.
hey Fly, quick question, if we were oversold as of friday’s close why is VXX your top pick?
TNA is also my top pick. You buy both and find yourself on a hamster wheel.
At the moment, I am interested in preservation of capital until the direction is clear.
so your “PPT” or “TTT” or whatever is called – it does not tell you the “DIRECTION”? then it is pieceof shit. Agreed?
Wouldn’t you like to know.
you’re banned
“I’ve got to tell you. You owe it to your family. You owe it to yourself.”
Another day, another ban.
Goodday to you, sir.
Isn’t buying VXX like betting that the market won’t just go eat sandwich?
The PPT is not a tool, but an oracle.
You are a tool.
65% long
Dr. Fly, does that mean you are 65% long, 20% VXX, 15% cash? Thanks in advance.
Signing up for PPT when NVDA prints 14, just for you.
It’s just not the stock market, real estate, try doing that right now.
Just as much insanity as the stock market.
Ha, good video. Woman looks like a man though.
ahh…the memories.
Why…I remember my first knife fight….there I was surrounded by 3 masked Ninja Warriors swinging swords and screaming guttural cries of death as they took strategic positions around me…like a triangle of terror
I pulled out my trusty Knuckle Knife, held it out and slowly turned the circle… leering at these 3 saps….daring them to get within range…my blade reflecting the faint glow of the street light, seemed to…
shit….triangle….I just got an idea here….I’ll be back
I am selling the rally
Maybe tomorrow around the close is the time to go long???
… quit reading my mind. That’s rude.
Name, not until the godly indicators say so. And right now they aren’t saying so.
I like VXX and anything gold…it certainly went up on PIGSHIIT fears,
and now it’s going down because the fear of inflation no longer exists?
And yet, if what you say is true Fly, gold should go up on your hypothesis.
Gold is hitting it’s long term trendline….quants seem to like to buy a bit lower when GLD hits about 113ish….
Hi Susanne:
How is your hand?
I had a blast in San Fransisco, Carmel, Monterray, Big Sur and Sausalito.
Northern California rocks.
Hate to say it, but San Fran may be more fun to tool around than Boston.
IBM fibo resistance and it is a BIGGIE is 130.74…risk/reward is to a sell off on
earnings….it has to bring a golden pony to break that level clean imho
Nymph, ChessnWine did a nice chart on IBM and showed how 130.72 is almost a formidable resistance – http://beta.chart.ly/p9ybbls. I normally don’t just look at technicals but his chart had a compelling argument.
When Chess and I agree…him thru t/a…me thru Fibonicci….sort of a magical power I would not mess with, lol….btw IBM didn’t get their Golden Pony at all.
Out of almost all long positions. Long some august index puts, but not much. And 25% TLT.
Here’s a handy primer on owning BP for the “long term”
As long as BP’s share value is greater than 1 penny, it will be the target of half the ambulance chasing lawyers on earth. Good luck trying to chart that.
I wouldn’t go long yet in indices. Tomorrow does not look good.
? Is that you fly?
As forewarned, sold my remaining SPY longs to book another decent profit and opened a new bearish position in a gaming stock. Details here – http://www.ibankcoin.com/peanut_gallery/index.php/2010/07/19/15253/
Turnaround Tuesday tomorrow.
Extra sandwiches might help….and don’t forget your top hat.
Just saying…..
I was stopped out of my TWM, so now holding only a little bit of UWM (95% cash).