Trading this market is like that movie groundhog day, where Bill Murray is forced to repeat the same day over and over, until he gets it right. Right out the gates, we dove 100 points on weaker than expected GDP numbers. Then, stronger than expected PMI/consumer confidence numbers buoyed the market higher. Now, we are about break-even.
Big fucking deal.
You try to get excited about this market, by stepping into some names here, and next thing you know the floor disappears and you end up in a pit filled with alligators. Sometimes, you have to make your bed, then lay in it. Even if that means being wrong: lay in it.
As far as I am concerned, we have a cool 400-700 points of near term downside. When I say “near term,” I mean over the next 1-3 months. Earnings have been for shit, as far as I see it. For every win, like CTXS, there are cataclysmic losses, like APKT or that God forsaken MLNX. If you are a publicly traded company, you better have some damn “Intel money” tucked away. Because if you miss, you are going right into the murderhole.
TLT is ripping to the upside, as well as FXY. It will take some serious heavy lifting to remove that burden, in order to allow the markets to run freely. Additionally, breadth is bad in most of the leading sectors. Essentially, if you are short, hang on awhile. If you are long, raise some cash. If you are hedged, go see a movie.
NOTE: As you know, we are gifting away 12631 t-shirts. There are some conditions. One condition was to tape oneself dead lifting 315lbs. Behold:
[youtube:http://www.youtube.com/watch?v=xrpqMr5ch-c 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
V.King
King Maker Rump Shaker
Donate my Tee-Shirt to Cramer
Can that requirement be waived if you’re a woman? I don’t think you want to see a picture of a woman who could do that.
Sorry. Women must lift 315lbs too.
ROFL
Lady G…curled 315…..treu story
And she was probably yapping about finding a man while doing it.
Do I read this correctly? The Fly wishes us dead in the process of lifting 315 lbs. Not this boyo, that much weight is chain hoist material not deadweight lifting. Not even Fat Albert Haynesworth.
While I can’t do 315lbs 10 times, I’m sure I could manage 31.5 lbs 100 times.
I bake and cook this way too. My 3500F Soufflé in 5 Seconds is world-reknown.
Why did I turn on CNBC (Probably because Leave It To Beaver isn’t on now)?
Mark Haynes is an F*** idiot.
A Sub S Corp. (I was one once) reports on a 1040 and thus an increase in the higher individual brackets is a in effect a business tax (on small business that is supposed to produce the majority of jobs).
I won’t even get into the higher payroll taxes, etc.
i was an S corp once. bullshit is what it is. unless you can employ people,then the bullshit becomes worse…………. nothing like being a sole proprietor. kudos to the dude dead lifting,the best i can do is a triple dresser with a hump strap going up a 3rd floor walkup. solo.
Hi Chris:
I’d be more impressed if you had a baby grand piano on your back, lol..What’s your take on USG?
havent followed it much lately, cause it’s price just keeps reflecting on how bad business still is in the sector as a whole.havent even gone through a full bucket of mud,usually by this time i go through 7-8 buckets,and thats just in repairs. i wouldnt touch it with cramers money……. cant do a baby grand,but i can dismantle one and put it on a skid board solo.
It’s all about making Gov’t a bigger segment of the economy.
Yeah, I’m not in the US, but I don’t believe that S Corp people CHOOSE to report their income on their personal taxes (I’m an IT contractor, looked into the US once, looked like I’d be working as an S corp while there)… He’s full of BS
Meet…Aneta Florczyk(yes, thats a chick’s name)……….Dominating the Deadlift since 1873
http://www.youtube.com/watch?v=_6C1zKLPjN4
Bad form.
You can’t just say .. “bad form” without specifics. Minus the debate about should you wear shoes or not. I want to know. I don’t think I’ve ever seen in my entire life a video of any exercise where somebody didn’t say “bad form.”
Enlighten us. So that others who attempt this might learn.
His hips and knees should be moving at the same rate of speed. Instead, he straightens his legs and uses his back for the 2nd half.
Other than that, fairly clean. But I know (from experience) how injuries can occur on that sort of imbalance.
I’ll try and do a vid this avo.
I Would not say that is bad form, the implication there would be something someone could get injured off of, in this case it is just him using, probably, his more dominant lowers back over his quads and hammies. Ofcourse if he wants to break into 4 plate territory this needs to be rectified to optimize force production.
With bare feet!
You have to classify the action this week as bullish – after the move we had we held onto the gains and the Dow is actually up on the week. Any big moves down were met with buying. At most I think we have 300 pts of downside, but I think it comes in small drips lower over the next three weeks.
I see your 400-700 to downside from today level and raise you 400-700 point to upside from today level..
prepare to be amazed.. as I am a magician of Real powers unlike you, dear sir… DOW 11000 here we come.
Bull SHIT, ex-commie. Keep hittin’ the vodka.
The Fly is God.
ha..
Zomb, prepare to be amazed…. and shafted.. hard
Buy the dip
Haha I can do 315 easily
http://www.break.com/index/benching-315-the-easy-way2.html
funny. Why does the guy just keep laying there?
Can I arm curl 185lbs and get a shirt?
Treasury’s aren’t fooled by this shit……SP’s 20pts off the low. Laughable
FLY,
S&P earnings have 75% beat rate to date in addition…earnings guidance has been even better. Perhaps you are looking at wrong sectors.
ALLPROz
Mark Rippetoe Deadlift Setup:
http://www.youtube.com/watch?v=e2kUHUfuqWo
I pass by a few truck stops daily.
For the last 3 weeks or so lots have been DEAD….
DEAD as in a dozen or so Highway trucks in a lot built for 300.
Whatever BS was flung today was a last gasp
I see the market will one day go down, and then one day up again. Brilliant!
Look to the 10 yr!!!! It shall grant you redemption
Be ready for the opposite of what you think will happen.
Cogito, ergo dumb.
It has always worked for me.
… simply my favorite episode.
Be ready to DO the opposite of what u think will happen.
Right. But if I think of the opposite of what I think will happen, am I now thinking about what I was thinking about at the start; so should I therefore be ready by thinking of the opposite of the opposite of what I think will happen? Please help. I’m just a dumas. And I don’t know what to do.
Fly, you are my only hope.
Go short and long SPY…can’t lose…
The opposite of the obvious is the new obvious, do the opposite of that.
If anyone here is a bike enthusiast, and will be in Sturgis for the rally, I will have my latest bike build in the AMD World Championship bike show downtown Sturgis at Lazelle st. and 3rd. stop in and check the show out…august 8th-11th
Check these out. http://www.thekneeslider.com
Tried to convince my old lady (biker talk-hope she doesn’t read this) last year and then Bruce Rossmeyer (Harley Daytona Dealer) died.
She lets me ride a Schwinn but it does have monkey handle bars,streamers,baseball cards in the spokes, and a banana seat.
bruce tried to pass a vehicle in an area where he should not have, bad decision on his part.
Where do you feel safe? Gold? Treasurys? Currencies? Real estate? Money market? Anywhere? Until the F’d up financial system is at least partially fixed, we have a problem. Try free enterprise and shrink government.
Try cash.
you want to be safe… get the hell out of the market…
IDSA trade for a grand and change this morning. Sold it and rolled into more VXX.
other than that just staying long DVAX.
lol
This guy attempts to do 1500lbs.
http://www.sling.com/video/show/18294/41/Weekend-Update%3A-All-Drug-Olympics
oil gona btfo i think
btfo??
The Fuckery continues…
This morning’s run-up is complete bullshit. And WTF is up with VXX?
Arrrrgh! Sometimes there just aren’t enough sandwiches!!!
VXX is a fucked up ETF… you didn’t know that? sometimes has no correlation to anything.. just down it goes…
we’re in accumulation mode ..
no matter what , lies , numbers and blablabla , but market is accumulating on every big sell , even on lil bitch good news .
bet against this , mr fly included , and you could see your nose ( under your eyes ) erased.
let it clear 10500 , and go over 10500, then there’s no going back .
Your wrong, even yellow dog knows it!
may be , I change my mind quite often ..
but I remain bullshitter as long as I see stupid-toast action from the lows like today .
we can dive even to the 10-10200 but I bet there’s free money buying for more upside later .
Try Social Justice.
Francesco
How is that dope? Good no?
yay , Sir , it’s good , actually it’s a precious fragrance of a far-est tea , with ice and a little bitch of a lemon . not bad for an hot summer day .
lol……It REALLY DOES feel like Ground Hog Day……each day I watch and watch….each day the samething happens at the sametime each day and everyone seems so surprise and try to explain it…..each day I learn a little more, a little twist, something I missed before……..maybe one day I will have it all together and be able to walk the Matrix like the Fly does each day…until then I am waking up and just repeating the day.
you’re doing good , I read your sums and upgrades and they puzzle in nicely.
I bet 30000$ you’ll get better and better in managing the whole data circus .
Thank You Fransesco…..if I do it enough….maybe there is hope.
Welcome to the late summer torso grinder. Go see Inception while downing Coors light and chomping, loudly, on spiced pork rinds from your favorite big-box shitbox. At the end of the day you’ll be a healthier and wealthier man than the botox-brained men who traded online ALL DAY.
mmm not so sure about this prospectus
Go eat a dogsicle
That 12631 reference in the video was hilarious.
Tooty Fruity Rudy
http://www.youtube.com/watch?v=wj_jm2J6DWc&feature=PlayList&p=301147FB95C862D8&playnext=1&index=8
The opposite of dogsicle is hotdog.
Proceed as you were
when i tried to lift 315 lbs my nutsack hit the floor and i popped a nice hernia!
guess no tee shirt fo me!
Oh, Illustrious and Effervescent Mr. Fly!
I begeth thee might condescend to grant audience to mine Tale of Woe:
Daddy had to get a tooth pulled back in April and 3.5 months later his entire throat and jaw got infected and landed him in Kaiser’s ICU for 48 hours and subsequently in a horribly oppressive, semi-private (I pay HOW MUCH for Kaiser each month???) hospital room for 6 glorious days afterward where time could only be measured in the seemingly eternal 2 hour increments between IV-administered 2 MG doses of Dilaudid (hydromorphone = 6x stronger than morphine – good stuff, but taken for all the wrong reasons, in this scenario). Needless to say, I’ve been less than amused for the last 8 days.
But worst of all, Daddy was denied internet access and his iPhone was required to remain in “Airplane Mode.”
So, after getting back to the office and comforting all of my still-unwaveringly faithful clients (including the ones that DIDN’T receive the appropriate calls/e-mails from one of my “soon-to-be justifiably dismissed and ingloriouslessly escorted out of the building by security’ assistant explaining my absence), Le Gods have afforded me a few moments to carefully peruse the last few weeks of Your seminal posts…
I agree with your thoughts on the coming correction and feel very fortunate it didn’t come while I was infirmed, lest my unwaveringly faithful clients waver….
So, just one question:
The tape doesn’t reflect a wholesale exodus of Le FLy (whom I can only assume continues to be the largest non-institutional shareholder of record, next to mineself) from the gut-wrenchingly ugly ticker FTK that mocks me from my position list on a daily basis… And I didn’t see anything in your posts… So, just to confirm, there was no selling of the FalbaTrossK during my Days of Woe, correct?
Keep up the good-work…
PS, I have no time for making videos (or posting this comment, really, but I’m the boss, so they can stick it) and my legal team has assured me that deadlifting 315 lbs. would undeniably violate my non-compete with CAT…
And yet, I would cherish a 12631 t-shirt, for obvious, yet unbeknowst to the uninitiated, reasons!
Is there another way to obtain said garment short of sacrificing my yet-to-be-born first-born?
Perhaps you would deign to provide one as a “Glad you’re back from The Brink” gesture? Doubtful…
Or perhaps RC could send me one in exchange for some of the American Dollars my legal team assures me my oral surgeon will soon be forking over?
If not, then, so be it.
Sergut could be russian or german, 18 months ago they were buying equipment as well. Lots then as i remember. Someones hitting oil!
lunch time..doesnt look like i missed much..and home for the remainder, whats my motivation ?
Never sold ftk
Ahhh, yes… My great regret for 2010.
Carry on, good sir.
I plan on dead lifting 405 next week. Can I get a shirt and a coffee mug?