People, this shit always happens in the summer, leading into the fall. You act as if this is the end of the universe, on our way towards an apocalyptic black hole or some shit. Every fucking summer, like clock-work, the markets get dicey. Then in the fall, we get crushed with devilish anvils. Then, finally, we run into the Thanksgiving-Christmas holidays. It’s as easy as greasy peasy.
Am I upset about today’s events?
Answer: yes.
Is it disturbing my vacation, which entails watching Jeremy diving into icy waters, not so much different than a fucking penguin?
Answer: no
You fuckers need to chill out and realize we are in a normal trading pattern, leading into the end of summer. If you think the downside is limited here, position for a rally. If you are disappointed with the results, after just 1 week, seek mental therapy.
If you’re gonna be in this game for longer than a few months and avoid aneurisms in your brain, you really need to eat more sandwiches and balance your portfolios out a little, pal. If you lose it all, you deserved to lose it, since you ignored risk management.
Keep some cash on the sidelines and buy your neighbors margin calls. The sky is not falling; you’re just too high on your own ego to figure it out.
NOTE: Once again, the culprit is the bond market. Keep watching TLT for evidence.
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For those that missed it, a classic rant…
PhukdAgain!!! says:
August 23, 2010 at 10:01 pm
Muthafuckin-sonsabitchin-shiteatin-asslickin-goddamnation!!! Fuck it all to hell in the ass with a dry wooden axehandle. I give up on this cock sucking gay ass piece o shit rigged as hell fuckin “market.” All who enter be forewarned…the powers that be have TRILLIONS in capital at their disposal, along with all the politicians and policy makers in their pockets. The “market” will do whatever they goddamn command it to at any fucking moment they decide, regardless of logic or history or the PPT or supply and demand or whatever. The only rule in force is the Golden Rule…”Those with the Gold make the Rules.” The rest of us, including Le FLY, are fucking sheep for the slaughter, destined to line their pockets with every cent of our hard earned cash AND MORE. If you have any fucking $$$ left, bury them in the back yard. Or at least light them on fire so you can enjoy the warmth and glow. Else it will simply disappear into the accounts of the GS Tradebots so they can continue to boast of reaping millions per day every single trading day of the motherfucking year. So long fuckers…I’m off to try my hand at Russian Roulette. At least my odds there are better than this fucked up stock trading bullshit!
Eat a bowl of cheerios and put your mind at ease.
This too shall pass.
This market is getting beat worse than a housewife in a trailer park.
or a husband in a trailer park.
It’s really the trailers that take the most abuse.
______
If there’s a case of Hamms involved.
Thank you.
@po Pimp. indeed it is. at this rate the need for the a big september sell off won’t be needed when the big $ robots return from vacation.
You have stumbled upon a treuth.
(sic)
_______
Neighbor Fly. You can buy my margin calls but I don’t know what that is. But, Steve, Jr. does have a game called Call of Duty you can buy. Buy the way, I noted some suspicious activity inside you house yesterday so I used the key you left with me and went inside. I caught two of your illegal Mexican Gardeners watching Mexican porn (I could tell since the one young lady was wearing a sombrero) on your television and drinking several six packs of Modelo Especial. I chased them out, but please go easy on them as they told me their avocado trees died of a disease in Juarez (hope they aren’t meshugana) and don’t want to be deported.
Hope you are having fun.
The highlight of my day…thanks Steve.
When we get a bounce I’m planning to load up again on shorts and I seem to always use SDS and FAZ. Anyone have a differant favorate etf to short the market?.
Keep reading DB… all will be made known about the ways of the fly to those willing to read.
I’ve been a fan for over a year and have followed the fly into more than a few trades that I agreed with. But looking for other oppinions.
SDS? Pfff, only 2x leverage. Go 3x with SPXU.
But personally, I only trade the short side of leveraged ETFs.
Damn this market stinks PPT stinks. Fly Stinks. My wife asking me how was my day FU go F somebody. Shud have stayed at that stupid Job rather than getting fired for day trading. Watch this shit rally now that I have been stopped out at the lows. You are right Fly we are peasants, and I will eat sandwiches looking for a job again.No more Africans in the white House, Yeah that’s right I am African too so FU.What did I fuckin do to deserve this.
This ain’t no mental clinic. Tell your wife to take a shave and blame your mom and dad for your miserable existence.
Uh-oh, a wounded bull. Does it make you happier that it didn’t rally? That’s because you and other bultards sell stops kept things heading nicely lower.
Get short boys, the only way is down for the rest of this year.
Finally, someone else noticed that things have changed. This market has been pretty orderly: down, half way back, repeat. Yes, a bit gappy, but predictably lower since it broke out of its rising wedge.
I don’t know if you are serious. But if someone cannot afford to lose their day job, they need to figure out a way to watch the market and trade discreetly and probably discretely as well.
DOW 9K.
It’s on the way.
Per prior comments and posts, I did get my short term bearish goals 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.
Fly – Any comments on Nat Gas for the remainder of the year?
Hurricanes throwing right hook out to sea. If/when that changes…
the other right
As a resident of the left hand corner of the bermuda triangle, I can tell you that the convergent electromagnetic frequencies are such that it will be deflected north. If the energy is gone when the next beast is coming towards us, the risk may be higher. Currently, I don’t see any significant threat here this year.
Time cycle wave analysis puts the top in at Sept 7 and the wave declines until November 8th….next week is the time for a final move up for a long rebound per Sir Fly’s position….then it’s death to this Great Satan of a market…or something like that.
Bond…We will see tomorrow….we are all in the same week or so, could have been today or Sept 7…we will know tomorrow….TRIN was still 1.86 at closing, I haven’t crutched all my figures yet but it looks like Aug 26 could be correct ala T Theory….but we have wiggle room……and oh Stockrider is seeing a bullish market in the stars fwiw.
Ms. TNymph….there was a relatively large amount of institutional buying on the 24th….those guys always catch the bottoms…I should say they create them….SPY 106.75 should be the price where buying interest will accelerate and I expect a run up to 114….but as you say we shall see how it plays out
Mr. Bond….Very good point. Yet, they could have been playing the Japanese Yen and are caught on the wrong side of the trade due to Owaki (sp) announcement last night? If that is the case we could have the perfect set up for a bit of a panic if Yen pushs up on GDP of ours and Canada’s tomorrow? I am looking for a first test at NYSE Advance – Decline Volume at -175, 000.000 which should be tested before any rally attempt can occur…..it shall, Mr, Bond, be a very interesting day tomorrow.
btw, Sean at Live indicated that big money is covering their shorts on USD/CHF tonight and this story is floating around http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7964816/UK-bank-accounting-rules-fatally-flawed-warns-influential-watchdog.html …..I could see a rally in the USD and Yen on GDP data and Yen caught in a spot where it can’t ease until mid Sept..if risk off floods yen it could get a bit ugly.
Ozawa is the correct spelling
TradingN…..general global volatility always seems to increase around these time cycle wave turning points……there is enough bad news to choke a pig out there now……therefore I expect one final long push to shake the shorts and draw in the potential happy days are here again longs…..its just SOP these days…..the institutional footprints will be unmistakeable…..they are huge beasts but quite predictable
Laughing at Al cause he uses stops 🙂
Flash crash should have taught everyone about the stops. No matter what formula you use.
best thing to have for a flash crash situation is an aapl buy order at $200 or so… like iwin did
iwin is king
I told my pet owl, Minerva, that The Fed head putz speaks tomorrow in WY. Or should I say putz head? Minerva spread her wings. Not a good sign. Following Mr. Could Be This/Could Be That and the GDP numbers we will see the market take a dump before a nice booster rocket rally. Bring out the barf bags.
The only thing Bernanke could do tomorrow that would rally the market is to commit ritual seppuku live on Power Lunch!
Harsh
Harsh but treu. And he could take Gunther…….Geister……..Gomer or whatever his name is along with him for the experience. 🙂
Look out for Japan intervention and Bernanke’s speech tomorrow….the GDP number is meaningless.
Most are not capable of beating the market.
What’s the over/under on how many strippers are in Tiger’s hotel room tonight?
Probably two over and two under. It’d be a Tiger sandwich.
People are scared shitless of this Hindenburg stuff. Once it’s proven wrong we can move on up.
Hindenburg, Schmindenburg.
Eat another yummy sandwich.
Yes, we rally soon. That is the cyclical, wave-like nature of the markets, which are really human emotions ebbing and flowing, ad nauseum.
Then comes the dreaming-shattering spiral down, forcing despair down the throats of the euphoric.
Wash, rinse, repeat.
Latest post – http://www.ibankcoin.com/peanut_gallery/index.php/2010/08/26/consensus-tells-me-much-more-than-gdp/. Feedback is welcome.
Dow 1,300. That’s my call and I’m sticking to it. For Spooz-heads that’s about 175 more or less. You bears need to order a pair of titanium ones. That is all.
So much negativity. We must be due for a bounce soon.
I have a foolproof market tell:
If I wake up with a hard-on we’re heading up, else the market will be down that day.
It’s been limp a lot lately. Oh well, maybe tomorrow…
Nagasaki now!!
I am buying another 600k of vxx tomorrow, before I have to be down at the diner, I hope seabass don’t come in tomorrow. The last time he was in there was an upwar and all hell broke lose over a couple of nice guys putting their order on his bill.
Ok i think i will select captain crunch. Thanks for the advise.
Anyone have an estimate for GDP tomorrow? I’m sure it will be ugly – the reaction in the market will be key.
1.5% is my guess but we rally anyway with glasses full of Mr B’s Famous Koolaid! Enjoy.
Benny boy will try very hard not to create a self fulfilling prophesy by telling the full truth. He is not a Greenspan jumble wordsmith. Anyway 10K is where they want to be tomorrow.
Fly as an experience trader you are aware that short term bottom is marked by capitulation (big down day with big volume) so far I haven’t seen it….the down volume had been orderly to say the least.
Weren’t a lot of the up days on light volume? I think a lot of cash is playing it safe and just sitting on the sidelines waiting to see what happens.
Well no shit. Over 70% of the light volume is mechanical trading, tradebots
The market is rigged plain and simple
lol, just looked at my notes…it’s not Canada…it’s UK GDP….well got the same Queen…
Quite possibly your last look at silver at these levels… check it out.
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Last summer I banked serious coin. I could throw a fucking dart last summer and make money. This summer I have not. This is not like last summer!