I do not get this sell off, which makes the market that much more fascinating to me. It’s like a never ending puzzle that changes all the time. The minute you have it figured out, BAM, it switches up on you. The greatest minds and most successful people in the world gravitate to the markets, not only for monetary reasons, but for the challenge. I could ramble on about how wrong you are and how awesome “The Fly” really, truly is, but that would help no one.
Instead, I want you to know that I am a beginner at this every single day. As much time and effort and experience garnered in the business, my approach is new, almost every single day. Throughout the years, I have developed thousands of different trading strategies and concocted countless theories, as to why stocks advance or decline. Some worked for awhile, others still work today (The PPT). However, the important message I am delivering to you, as you gawk at my Godliness from the “un-luxury” of your bullshit pleather chair from Staples, is this: be green.
In other news, I bought some ROP down here, looking for a 5 point run. And, I am about to get the flog out of here, en route for breakfast.
NOTE: The market will not rally without yen and TLT weakness.
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You’re the head lemming – you must be green
Getting back to SHOMP.
Unfortunately I looked it up in the Urban Dictionary as I left the ‘hood several years ago
Tell me it isn’t the first one.
http://www.urbandictionary.com/define.php?term=shomp
Man that first definition is hilarious.
I thought it was supposed to be SHRIMP?
http://ibankcoin.com/flyblog/2010/02/14/sneak-peek-into-ppt-20/
Wow, I had no idea we were talking about that! If you must SHOMP, please wear protection.
Does that first definition happen on the NYC subway a bunch of times?
Not being a New Yorker I wouldn’t know.
I’m probably going to visit my daughter soon who lives and work in the City and I want to be prepared and not act like a tourist.
Not to my knowledge, WTF?!
I also don’t know. One thing is for certain: betting against S.H.O.M.P. will get you shomped.
😀
(CH) SHOMPIN
Dude, man, it just found daily resistance, is not too late to close at hi’s.
Let the day play out for Christ’s sake
GDP and Benny speech tomorrow.
Watch and wait
It’s not easy being green~
http://www.youtube.com/watch?v=hpiIWMWWVco
Check out ISE index equity numbers. People are buying lots of call options today, expecting a bounce, which means….
I told you how it would go. My spaceship is faster than yours
And the fly will suck dick and be wrong again shortly as the markets turn red and his account will be closed out due to unforseen circumstances. Rimm will see 30’s be4 this market bounces
Sell off? What sell off?
_______
I think the market is just SHOMPing around… soon we will turn around and act like this mini selloff never happened
I think we have a new word for the iBC dictionary.
Take note Danny (if you are still the keeper of words).
To SHOMP as in to be FTK’d at a homosexual opera.
I bought FTK yesterday at 1.27 and it then preceded to get up to 1.50. FLY IS GOD.
For example about VXX’s long-term behavior as in “The VXX is shamefacedly shomping me.”
Michael
You’re banned
Fly, I think you are being too cute this time. No one can catch every turn of the market.
The real issue of the market not rebounding is that Wall Street is running out of people to seperate from their money. Less is going into 401ks and Wall Street has fleeced the golden gooses since the late 1980s. Wall Street (GS and friends) if a bit afraid of turning up the buy roberts to squeeze shorts as it is now afraid it may instead be buying shares from hedge funds dumping, not shorts covering.
None of us can name a buy and hold stock. We all could in 1950, 1960, 1970 and 1980. Equities shifted from being an investment into a ponze like scheme where investment banks and CEOs reap huge rewards- everyone else gets fleeced. CEOs now make many multiples inflation adjusted than they made in 1970, yet the have shipped out the manufacturing/ jobs oversees- if they even make it anymore (most just license their name like DuPont licenese their names to Chinese crapafacturers).
Game is over until the USA has CEOs that want to compete- not sell out and eliminate competition. Competition makes the USA better. Monopolies do not.
“I am delivering to you, as you gawk at my Godliness from the “un-luxury” of your bullshit pleather chair from Staples. ”
ROFLMFAO!!!!
we are, at this moment, in my opinion, testing the validity of yesterdays rallay
when she tests your convictions, thats when you load up the boat. cause thats when u get the best prices.
“full rambo”
and shit….
Venice Beach is hilarious – it’s National Topless Day.
http://ireport.cnn.com/docs/DOC-484938?hpt=C2
($ROP tweets very funny too).
I believe I saw Fly towards the middle holding the sign that says “Free Yourself “.
I guess he is having fun in Venice.
“Take your mind out dah gutter and free the udders” — I think she’s trying to land a record deal.
______
I saw Zombie in the crowd. He had t-shirt with “Fly is God”.
As mentioned in my last couple of posts, technical analysis is not going to work in an expected fashion during Mercury Retrograde. You are seeing that unfold every day now.
Most of the oscillator based indicators are not quite working as you would want them to. Charting may not be giving enough to go by. So many of the indicators are not giving you confidence.
This doesn’t mean you should tweak your indicators. The rule says not to do so especially during this period. All this only means one thing – a more pronounced uncertainty and intra day volatility is the nature of this period.
You can mock at this. You can argue about whether it makes sense or not. But this is the pattern. You can either accept it and wait out this period or you can continue to bet against it.
I rather just take your money instead.
Noodle, I wish you make money. But if you have been taking the opposite sides of my trades, you will notice lately you are probably losing heavily.
StockRider…..RIGHT NOW, What will be the closing levels on Friday.
Nymph, aren’t you ashamed to kick around little kids?
WTF, you epitomize your nick
Nympho, I cannot predict the exact amount of drop. I be having my stops between 1040 and 1046. If you read my posts, I am ST bearish but will most likely switch my stance after tomorrow.
Wtf 🙂 ,,,,,For tomorrow, like I said in my Sunday Article is a fiip a coin on Friday, we should be getting to that support on adv – decline volume and that stupid India Court hasn’t ruled yet, I bet they will wait until Sept when qtr prices kick in, sorry off topic. With Japan having to do a election in Mid Sept the intervention on Yen seems to be left in air too until Mid Sept……………Cycle Theory People are looking for a big drop, Fly is making me wait until Sept…..I was just hoping the Stars would give a answer for that coin flip on if we take out 1047ish and move down to 1030ish hard tomorrow….oh well…I will have to wait, thanks.
Fly You are SO right…..it’s for the challenge…….money can come and go….but a challenge that is so much fun is so priceless in life. For me and this puzzle, every piece I am learning I am finding it is helping with other pieces that I didn’t understand earlier. One incredible Puzzle which I so love……and so many great people/minds working on the same puzzle…it’s just amazing.
Yes agree re: SO many Great minds…and people….THAT DON’T LISTEN
It’s “ok” though…every time I take money out….one of you is donating to a worthy cause
Me loveU long time
Reading these posts reminds me of and old chinese saying..
it s the very emptiness of the vessel that makes it usefull
You ’bout as Chinese as me!
______
all i know is that i am glad to be buying down here…
In today’s WSJ (sorry, no link) – Fairfax Financial shorts US Economy – A Wager by Fairfax Financial Risks $174 Million. If Deflation Arrives, It Could Be Worth Billions.
Gregory Zukerman is the author.
Want to be a Billionaire?
exchange your money for South Korean
http://www.gocurrency.com/v2/dorate.php?inV=1000&from=CAD&to=KRW&Calculate=Convert
1 CDN $ = 1187.65 WON
Teach Ingrish…live like Billionaire
http://wonder-tonic.com/geocitiesizer/content.php?theme=3&music=8&url=ibankcoin.com
Is that Nymph walking around with A-dawgg? Nice.
Mr , your’ becoming the best contrarian ever
Time to get my DOW 10000 rally cap!
this selloff is getting worrisome
Yen is firming up…too bad for longs …haha…next stop for DOW, 9800
The Chart People say that a market correction is underway and are unusually uncertain about the future.
Any guess for GDP tomorrow? 0.5?
maybe on the revision, but i bet we see a cooked number tomorrow.
totally agree wsjc.
How many times has DOW passed 10000 this year? It like Monopoly. Pass start and collect $200. LOL
200 for you again! LOL
Color me Green? How about Color Me Badd??
http://www.youtube.com/watch?v=4ZZiVsKDw7g
Looks like the market is doing a head fake, saying lets take it down, and into the closing bell, load the boat.
Way to fake a smile Fly!
-bonus points
I did get my short term bearish targets achieved! Closed another 1/3rd of open position in SPY shorts. Now only a fraction of my shorts remaining on the table. Incredible gains today! I will be posting soon my thoughts and short term strategy update in P.G. In short – I won’t remain short tomorrow beyond a certain point. Late day tomorrow or Monday marks the change for me.