“The Fly” is very humble, despite doing the “gorilla dance” for his internet spectators. If I was full of hubris, I would have positioned heavily short weeks ago and lost a great sum of money in the process. Many of you were balls to the wall long yesterday, based upon the theory of “free money” and unlimited gains.
NOTHING IN LIFE IS FREE. And nothing great is accomplished without pain and suffering. I remind you of this when you are hurting, so you can remember it in the future.
Enough of the lecturing. Here’s what I am doing.
I sold out of the 10,000 shares of EDZ, purchased at the close of trading yesterday. And, due to the severity of the pullback, I am now looking at some names that are OVERSOLD, flagged by The PPT. I am looking at high percentage plays only. I will likely refrain from buying anything today, due to the momentum of this sell off. However, it’s worth noting, I expect the market to rebound within 5 trading days. Oversold names worth perusing include CRS, FLS, ANF and HON. Within the upside ETF’s, TNA, UWM and QLD offer significant upside potential, on a bounce.
One thing that should remain constant is weakness in crude. Look at the trannies and how fucked they are and think to yourself: “does oil belong at $80+?”
I think not.
Top picks: SCO, VXX
UPDATE: I love this guy. You should subscribe.
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The Fly is GOD!!!
That was dedicated to Dumas.
Ah… nostalgia… ty.
So true.
That was dedicated to Fly.
didn’t [not stupid but he is an idiot] cramer say that the fed announcement yesterday was the “all clear” to go long?
Yes and I chastised him on Twitter yesterday for doing so.
Follow me The_Real_Fly
HON
or
thehon dot com ?
I would say the PPT number is the New York Mets team batting average multiplied by Mike Pelfrey’s wins thus far.
FIW.
(Fly is wise)
I initiated and was shaken out of an SDS and short MET position yesterday… I feel like a fucking ritard.
I shorted north of 1900 and reversed south of 1850
I intend to get short again at a higher price
Oil has every fundamental and technichal reason to be trading at 60 or below.
But, if Iran clogs the Hormuz straight, oil goes up 30% overnight.
Ive heard the pentagon is ordering millions of these units for deployment. But , the shipment might not make it there in time.
http://www.youtube.com/watch?v=fo0yod-6AmU
And thus, civilization collapsed not with a whimper, but with a “BAAM!”
PPT=$$$
Thanks Fly.
FIG
If you lost money today. sell you losers now buy CSCO 23.56 sell after hours/when they release earnings and get back in your losers. Dont ask me why, you want me to go to jail
Fucker.
Where the hell is Dr. Cane??
Working on a rig in the North Sea.
mother fuck me.put an order in pre this morn on vxx just to dip my cock in. even went 1 cent over ask before i spilt to a restoration gig. needless to say…fuck me……god damn it fly,your gonna get your 270 today at close,or pretty damn close…kudos to your fucking self…fuckin A good sir.
You play Ludwig don’t you?
Fly, Staying bearish was not hubris but learning process…
i subscribed, any more gems fly? other than the PPT of course
Hubris on pita bread..yum.
Despite the market scaring the bejeebers out of the bulls today, I’ve started nibbling on a CREEpy stock.
Call it the Costanza hubris trade.
Nibbled on some VECO at 32.25.
nom nom nom
only the snare drums, as i collect snares. but the kit is a custom sonor that i got from Clyde Stubblefield. and zildjians and sabians of course.