Everyone is scared. People with cash are scared to miss out on a rally. Investors long stocks are worried about a double dip recession. And, short sellers are scared of getting scalped by way of a Fed manipulated short covering rally. While everyone is scared, “The Fly” flicks his cigar ashes on his neighbors Persian rugs and proceeds to execute his plan.
Shorting today is a waste of time, since most sectors are green. Look at the animal strength in retail, tech and ag and please explain to me why you are shorting stocks now? If you want to short something, wait until the end of the day. However, that might be a bad idea too, going into the Labor Day weekend. Having said that, I am being extremely patient with all of my positions, as if they were faberge eggs (no homo).
On a separate note, I am most pleased to see FTK march higher. If God is interested in blessing The Fly with early X-Mas (pagan version intentional) presents, he will send the shares of FTK through the roof. That’s right, fuckface. “The Fly” is totally off his rock, vain as fuck, asking God himself to buy a penny stock for the explicit purposes of making me money. Plus, don’t forget, a win for me is a loss for someone else. It’s not enough that I win; everyone else needs to lose.
Lot’s of nervousness out there, oooohh. As far as I can tell, with TLT dropping here, there is no reason to be nervous—fucking pussies.
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FIG
We’re not scared! http://www.youtube.com/watch?v=ytc0U2WAz4s
Still sitting and waiting in my faz…..stupid animal spirits, I wanted minute to minute coverage of Ben B on the hill and CNBC didn’t really even show it….Bloomberg cut in a lot….can we just take this thing down already?
You’re in FAZ when the Rallye Monkee [sic] is on the front page? Fer shame, fer shame!
lol…You are right, he does sort of look like the Rally Monkey…I thought they were going to slap him down instead of softball……
It’s fucked up how I get much more “nervous” about what’s around the corner when I’m a little ahead, like now, compared to when I was 10+% down, several days ago..
No guts no glory !
Tell me the management at CNBC doesn’t dream every night they could have commentary like that.
I ain’t scared.
the term is “skerred”
Thug life!
FAZ is going to send you straight to hell in the FAZ-mobile…
TITN
Yup. Market going higher. Hindenberg Omen on hold for the time being. This is not to say it won’t happen, and soon. But it won’t happen now.
Sell-offs happen when you least expect it. Right now, everyone expects it, so it won’t happen. We now rally nicely up to September Expiration. Then all bets are off.
My favorite sector is semis. They are all extremely cheap, and should rally for the month.
You are so smart!
When should I sell my TNA? How should I play those semis?
If we met in real life would you give me a terrorist fist bump?
I’m in cash 100%. I’ll wait for a trend with no heavy resistance directly overhead, thank you.
When the shoe shine boy is giving you stock tips, you know it is time to get out of the market. When every news organization is talking about the Hindu-Heidel-Claptrap Omen, you know it’s time to buy.
Fly agreed. Which is why even though my studies show we are close to going down again, I am letting a few longs ride while taking profit on sizable ones.
One of your best.
Oohhhh, Steve Liesman is on the other line…..
Sold out of my DSW at a small loss. They hit a more normalized quarterly earnings number and expanded their gross margins in a forceful manner as reported earlier this week but there are some murderholes emerging in retail apparel and I decided to cut down my position to re-allocate to other strength and cash. I doubled my position in ETH and I am holding powder dry for hedging or more ETH depending how the clocks tock. Those fuckers play to housing and retail strength, plus I like the imagery of an innocent couch in the corner of a room suddenly skating across hardwood floors, lifting its cushions, and swallowing innocent by-shorters.
Otherwise, I have gains in MLNX, MIR, EBIX, ETH, and short STU.
And gains in TIE. Sold out of MLNX +8%. Added to MIR, hopefully it won’t fall out of (into?) the sky.
Fly -you’re suppose to come back from California with flowers in your hair and shit
Dear Kenny,
Please mind your language. Even those coming from Kalifornia are not supposed to have shit in their hair. Suggesting such to Mr. Fly will get you banned in no second.
Sincerely,
WTF
any one think its a good time to jump into VXX under 20??
There’s a perfectly good reason to be nervous here:
Copper.
Copper is getting overheated on every time frame. When JJC hits a ceiling, it creates a ceiling in real estate stocks. When that happens, it limits the advance of XLF.
http://www.youtube.com/watch?v=Q40v8qeUJZQ
What are you going to do with all your toilet paper now that Armageddon hasn’t panned out?
I have several hundred pounds of rice. In a disaster, it will be worth more than precious metals. If nothing happens, i will use it at the weddings of my 14 daughters.
give me one!
http://www.youtube.com/watch?v=SGtWssdauME
I just found out, thankfully, that the total number is only 13.
LOL
You’re quite a dancer, Mr. Panama, LMAO!
This rally will take us further than most think, bears will be in some pain.
Just a friendly word of caution….
It’s funny, yet sad, how some of you on the Fly’s outstanding blog are basing your decisions and trading strategies on Costanza-like anecdotal evidence, without being sure of the answer to the question before asking it.
Let’s talk about this…….
I hope you’re not putting alot of money on the line, not to mention any clients’s money, (in the case of those who are faux-money manager/broker/insurance agent “portfolio manager” wannabes).
Stop and think for a second before rolling the dice on a whim. This is not an easy one-size-fits-all market that you can look at your stupid charts and moving averages and then key in trades on your computer, as you bite into another slice of a meat lovers pizza. A whole flock of Black Swans are circling the pond, looking for places to land.
Be careful out there.
The Fly may use this post as a plug for the PPT.
Thank you, and be well.
Actually, it’s pretty easy to see that long term the trend is down.
The trend is your friend, until it body slams you onto a bed of nails, while cobras dance to flutes and sitar music.
I made that album. Went gold in Tazanastanizan
For every black swan out there I have VXX arrows. On a serious note, thanks for reminder.
Sold out of the rest of my TNA. Now 100% cash and will take time to figure out what to do next.
VXX = nitro glycerine
VXZ is better for my own personal use.
Better hedges are SH or RWM. Also I use PBRIX as a non-indexed short fund. I stay the hell away from the leveraged stuff. It will kill everyone, but the most skilled. At the very least, if you don’t get murdered, you can get maimed.
PPT was at 3.04 ‘Buy’ yesterday with the largest gain in the hybrid score—ever. We are close to a turning point.
Now is you time to take profits…don’t have to worry about jobs number – which the bears will spin negative even though the weekly numbers are getting people more bullish…and you don’t want to be long over the 3 day weekend. We’ll pullback 100-150 pts, which could then be bought. Just hoping we are not in a range 1130-1040 forever.
Oh, and love that HONey double-bottom!
Now that your a dad and shit…
http://www.ebaumsworld.com/video/watch/81024528
Employment Report Tomorrow……..Place your bets!
Setup as follows:
Numbers are probably bad (but not a catastrophe) and the market won’t know what to do.
Market will whip around in a range and the semis will remain strong.
By 10:30 the DJIA will be down 60-100 points but the SMH and semis will be basically unchanged to down slightly.
That is the signal to buy semis,SMH etf, and the Qs.
Dump them all by 2:30 and then on to the weekend.
Some of the Fly’s agents deal with blogger Purdy….
http://abclocal.go.com/kgo/video?id=7645202&pid=7645194
WTF!?!?
I had to stop watching…
Can you imagine this is your dad? The fucker tazed a 64 years old man with a heart condition.
Insane…