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
23,445 Blog Posts

Coiled

Full disclosure: the longer it takes for the prophecies of “The Fly” to come to fruition, the more painful the event will be. I warn you of this, as if it meant the separation of your head from torso, as it might very well happen (with time).

Off to punch grandfather clocks in the face.

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41 comments

  1. slim

    USA has been coiled since the 1970’s.

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  2. Woodshedder

    At the risk of removing my Distinguished Gentleman status, I would like to note that stocks aren’t the only things that coil.
    Perhaps Turd can elaborate.

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    • derrr

      I was just thinking being coiled sounds like some “ghetto ass workout routine” or whatever

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    • Shteamin' Three Coiler
      Shteamin' Three Coiler

      No need for Turd to step in here…

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  3. Zombie 12631

    FIG.

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  4. EN1GMA

    I am sure looking forward to the pain… should be awesome

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  5. Purdy

    Is no problem my friends. If you are upside down on your investments, the gov’t will adjust your cost basis.

    (actually, they’ll only do this for you if a money center bank, Fred, or Fannie, holds your paper)

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    • omfgitsjd

      Is it actually the people or the assets that are upside down? Secondly, if the policies do submerge people over time, don’t we all just learn to drink the koolaid?

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  6. Dr. Sigmund

    You seem very frustrated. Very conflicted. Your lashing out, angry pennings and “prophetic” utterances only serve to validate your uneasyness and the insecurities you have with your current positions.

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    • Woodshedder

      How do you feel about your Mom?

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    • Russian Saylor

      don’t anal-yse him, the man is lost…. he has to come to terms…. before work begins…
      dear fly, take it easy, it’s just money after all.

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    • Vegastrader

      I think this is a personal vendeta Mr Market Vs Fly. The market will turn when Fly covers his shorts. Mr. Market has declared total war against Fly.

      If we were real smart we should all band together and when Fly gives us the sign we should all buy or sell like birds in a formation. Man Vs Machine. Remember when people got these text messages and people showed up in thousands and did weird things. There is power is numbers.

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      • Dayman

        Like birds in formation flying into an F-22.

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        • Vegastrader

          Two birds took down the US Airways jet.
          But what else can yo do. Man Vs machine?

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          • Dayman

            Jet is back in the air and the passengers are fine. How are those birds doing?

            IMO, sit it out for awhile. The easy money from the crash and subsequent rally has been made. I think the next 1-2 years should be used to eat sandwiches and collect dividends. Buy some high quality dividend names (MO, KMP, etc,)hedge yourself, and then wait until there is another inflection point in the equity markets. As Le Fly says, markets are in meat grinder mode, unless you have clients demanding returns or have money to riverboat gamble with, don’t play with the meat grinder.

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  7. UrinalShadow

    Penis envy Dr. Sigmund.

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    • JakeGint

      Don Ameche has been assigned to Urinal Shadow status in the after life?

      He must’ve done some baaaad sheeit out there in Hollyweird.

      ______

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  8. bubo

    Hi Fly,

    What I have notice is that you’re right but with a delay of a couple of days. As mentioned last week we’re up as usual on Monday. But your prediction of 300 point down could be as yearly as tomorrow or this week.
    Will see…
    God bless

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  9. Vegastrader

    Dont chase the market up here.

    Like they scared you to sell all your stocks at 1020 they now tell you to buy at at 1125.

    Its elementary. When they scare you to sell you buy. When they scare you to buy you sell.

    At 1020 they told you watch for 1000-970.
    At 1125 they tell you to watch for 1130-1160.

    We are definitely getting very close to the top. Rule of thumb: The top will come 1 day after you think it will get there or 1 day after you cover all your shorts.

    The feds will say unchanged tomorrow. Unchanged means that nothing is getting better. If things were truly getting better the Fed would stop the insanity and increase interest rates. Prez Oblablabla, Tax Cheat Gethner and Heli Ben now belives that a stronger market is the way to create jobs. Yeah right!

    Holding: VXX

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  10. Le Fly

    I am not short dipshit

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  11. Reality_Bites

    Copper down all day
    Scrap metal down
    USD up v Euro
    Vix up
    sentiment, oddly, up

    http://tickersense.typepad.com/ticker_sense/2010/08/august-2nd-blogger-sentiment-poll.html

    Oh, the tears that will be shed!

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  12. the tree

    Biggest difference btwn today and 2008…

    2008: http://stockcharts.com/h-sc/ui?s=LQD&p=D&st=2008-01-01&en=2008-10-31&id=p91298601349
    Current: http://stockcharts.com/h-sc/ui?s=LQD&p=D&st=2010-01-01&en=2008-10-31&id=p43826270002

    If credit was selling off with the rally in treasuries, I’d be more worried…but its not.

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    • derrr

      The problem is the treasuries are going into bubble mode. They may continue for a long time, but when they roll over they’re going to hard along with credit most likely, and the fundementals will be worse as the government will spend every penny that they can even that which is in excess.

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  13. bubo

    Hey franky,

    you’ve never heard of this planet before….

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  14. Sum_Ting_Wong

    the YEN is still higher…I bagged a tidy sum on that move from the bottom…chuckle-snort….

    What ever happened to “Yen Master”….hmmm….must have blew away from a West wind?..
    Look to the Left….remember that phrase?

    LOOK TO THE FRIKIN EAST

    New phrase
    and I’ll share with you this (allows for overlays
    http://www.livecharts.co.uk/daily_charts/daily_charts.php

    Here try this one: HSI, EURO, AUD, GBP…Just for grins and giggles

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  15. The Big Question is:
    The Big Question is:

    who is in charge? The people? The government? The banks? The multi-national businesses?

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  16. No One

    I am in charge

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  17. MortimerDuke

    Buy frozen pork bellies.

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  18. flyaway18

    Fly, could you please look into purchasing some new photos
    to go along with your blogs?
    The other guys hardly ever use the same pictures twice..
    I think once you start using more variety in your photos,
    you will become more in sync with the market.
    Just an observation.

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  19. buylo

    Can a big down day as you predict Sr. Fly, hurt you if you are just in cash?

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  20. noodle

    wat?

    it looks like a pull back tommorrow….

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