It’s very lazy for all of you to simply gaze at charts and declare “the market has broken out. Up we go till X-Mas.” I get it. If you just look at charts, your excuse for being a lazy monkey is that you are a “technician,” entirely uninterested in the fundamentals of the economy.
Listen to me, you little dick sucker: when you are out there buying stocks, based upon the wonderful notion of runaway inflation, you are underwriting your own death. Do you find pleasure in celebrating the death of America’s dominance? Well, that’s exactly what you are doing by allowing the current policies to go unchecked. The dollar is sinking, unemployment is out of control, 2 year yields are at record lows, the Yen is soaring and gold is bombastic to the upside. And as this all happens around you, in your head, it makes sense to buy CRM at 5 trillion times earnings.
Question for you: Where is it written that hyper inflation will help stock prices rise? I would like some of you goat fuckers out there to point to a market that soared, while its local economy was plagued with Weimer-like inflation.
In life, people get what they deserve. In this case, you deserve absolutely nothing.
NOTE: I sold short more AEM, at $69.70ish. As planned, I will short more at $71, providing it gets there.
Top picks: VXX, TZA
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ROFL nice picture on the front page.
TZA gimmie 34 buck damn it!
hope this helps.
It seems like they are going to try to get out of giving me my 40 today
I see you have a limit for shorting AEM.
Am I correct that you have a stop loss target to cover?
No. I planned to avg in up until $71. That’s the price where I think it will stop dead in its tracks.
Very nice.
True Paul Tudor Jones II gunslinger style.
Just a brain,experience, and a computer (back then it was an Apple 2).
And a historical October down number from the PPT.
Note: October down number.
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” Well, that’s exactly what you are doing by allowing the current policies to go unchecked.”
That’s the main problem with America now… but what can we do? Even if we vote for another batch of fresh blood into control, they’ll be the same! Money always gives power and control… Only person/people that would do citizen good is people who don’t give a shit about money, but then who would work for nothing… plus without money, he/she wouldn’t get voted in in the first place…
When you buy stocks, you are voting for the current regime.
Good day to you.
Well, not neccessary… I bought SPXU (ETF, but still stock), so you can see my vote… The only way to get rid of current situation is that SPX goes to 200 and we should have a revolt and a revolution… without hard medicine, no way we fix our current corrputed system…
Two years… Give it two years from now, and you will have your revolution, damn it!
Until then, stop complaining and buy gold.
I honestly don’t understand Fly’s obsession with killing gold. But I don’t care anyway.
Gold will keep rising whether the market goes up or down. It is either the fear trade, or the hyperinflation trade. Gold should pause at 1300 and probably drop to 1250 before catapulting to 1,400 in Q1-2011.
I know gold isn’t worth shit, never has been and never will be. But the population is getting very scared, and they think that gold is the way to protect their wealth when the shit hits the fan in 2 years.
“Never has been” — save for that “whole recorded history of civilization thing” you mean?
No, but dollars, now dollars are worth something!
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Well I don’t think gold worth shit and certainly not planning to buy it. If shit hits the fan and we have end of world 2012, what you going to do with gold? Even if we have revolution, gun and ammo and bare hand to farm worth more then gold… Gold was good back in days when gold was the standard but I think we grow out of that phase already…
As opposed to actually pulling the lever for the current regime?
For my part, I am playing the cycle. O’bama and his destruction of America have little to do with it.
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Simple explanation for this, Fly–
Most “pure technical traders” are too left brained. As such, the notion of the big picture, or intuition, is VERY hard for them .
http://jamessnider.blogspot.com/2010/05/left-brainedright-brained.html
What I have concluded is that with all the bad economic data (jobs) and the good economic data (housing starts), the market will either go up or down.
Whew! I am so glad I finally figured that out.
wow, i think your on to something here!
Lol…”You little dick suckers”…
I like the mean this little rough patch has broughjt out in you…i can only imagine how this will turn out if the market rises inexplicably past 1200
buying adbe here,,,because im an idiot,,,,,
ADOBO
Most of todays screaming bulls were scared shitless back at sp1040.
Pure comedy gold.
Your are absolutely correct. Most, not all, thank goodness…
Nice mic
I think you’d better check your records, there, Mr. Death.
I’ve been in such a serenity now bubble that I’ve actually started to hedge my portfolio in disbelief.
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What makes you think I’m referring to you?
Its the emotional trolls that show up claiming its 2004 all over again because some chart broke out.
Trading ranges mean nothing to some people – emotion gets the best of them.
As good Americans wishing to bolster our economy we should be looking for fundamenally sound American corporations, and invest there. There are good American corporations with sound business plans and honest management who are able to put people to work. Our financial markets are supposed to efficiently direct capital to such enterprises. They can then invest in plant and equipment, hire labor and sales and marketing professionals, kick ass and keep $ in this country and make money for their investors. But no, we gotta be smart guys going short and buying 3X etfs and buying lines and charts and stupid stuff like that instead of supporting the backbone of American industry. Something fucked up there. Barak should shut down the gambling casino aspect of Wall Street, and support the investor function and capital formation necessart to grow America’s economy.
Barax is only an actor.
Well shit, he should get his act together. Is he the same guy who was the most liberal member of the Senate (or top 2 or 3), or is he a centrist at heart? Or a true actor at the direction of George Soros?
The latter, but some of both. He and Soros don’t have a whit of disagreement betwixt ’em.
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What do you mean the “gambling casino aspect?” Are you of the wrong-headed persuasion that lack of liquidity is a good thing?
Liquidity is THE most important thing in a thriving economy. It’s what keeps investors investing. Period.
And I thought you were Canuckistanian?
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I’m buy stocks to make money and for no other reason.
Bringing politics or feelings into it is just plain stupid.
Dear Fly,
AEM will be at 71 tomorrow.
Dear Commy Bastard,
I will be shorting more tomorrow.
let me hug you …. you feel like a teddy bear 🙂
bot more AEM long 69.12
You have 8 days. Salud.
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stopped out on 1/2 🙁
fly pushed me lol
Its Devil Dog in disguise!
Celebrating the birth of America’s Decendency.
It doesn’t matter if the “value” of your shares climb 3 times if the value of the money they are wagered in goes down 5 times via inflation/currency destruction.
“Wow my portfolio is up 100%, thank goodness for Obama.” That’s what a lot of old timers are going to say. Then they’ll try to buy that $100 tomato with their “big” retirement incomes and seem confused.
I thought the latest numbers showed zero inflation… why are we now in hyper inflation? My bacon cheeseburgers have yet to increase in cost.
Mine seem more expensive. And smaller.
With more corn content too.
Two weeks between deflation and hyperinflation in Weimer, since we are on the subject.
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Uh, the answer is: Weimar Germany.
The German stock market went from 126 to 26,400,000 during the hyperinflation.
Shut up
Noting else matters when degenerates are bidding up netflix 5 dollars day man
Oops this last bit should be in quotes………
“Where is it written that hyper inflation will help stock prices rise? I would like some of you goat fuckers out there to point to a market that soared, while its local economy was plagued with Weimer-like inflation.”
The point is, if the local economy is gonna suck, where do you want to put your money? Perhaps in stocks with large asset values, or consumer staples or something that will preserve your value. Hyper inflation is just not on the radar screen at this point. It possible to theorize an attack of hyper inflation, but the blips of the incoming aircraft and missles are not there on the screen at this point.
In recent history, circa 1980’s, the stock market only started to rise, AFTER Volker jacked rates higher to kill inflation.
True. That’s right.
However the market does rise when inflation begins the appear.
I saw this chart yesterday that shows a high correlation with higher stock prices and inflation.
What you don’t want is a japan as that would really put stock prices at Prechter levels.
—————–
But more importantly has the dope on the slope actually turned bullish? Oh fuck!!!!!
Well, America has seen its currency devalued a great deal over the last 10 years, with decent inflation. What has that done for stocks?
It was the only reason stocks were rising from 2003-07, if that’s what you mean.
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Stocks were rising 2003-07 because people were playing ATm machine with their houses. Consumption was rampant on borrowed money. Which blew up when the housing bubble burst. We still suffer the effects.
The dollar was going down the whole time too. Rates were being held artificially low by the Fed and Fan and Fred were actiing like Santa.
Not a good combo.
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“Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsiblity to bring that about?”
– Maurice Strong, founder of the UN Environment Programme
“A massive campaign must be launched to de-develop the United States. De-development means bringing our economic system into line with the realities of ecology and the world resource situation.”
– Paul Ehrlich, Professor of Population Studies
“The only hope for the world is to make sure there is not another United States. We can’t let other countries have the same number of cars, the amount of industrialization, we have in the US. We have to stop these Third World countries right where they are.”
– Michael Oppenheimer, Environmental Defense Fund
“Global Sustainability requires the deliberate quest of poverty, reduced resource consumption and set levels of mortality control.”
– Professor Maurice King
“Agenda 21 and its component for local governments was drafted as ecological guidelines for sustainable development. Perhaps because it involved the United Nations, or perhaps because of its science fiction-y name, the initiative looms large as a paranoid delusion of the tinfoil hat and black helicopter crowd, who suspect it as a creeping, sinister Socialist plot.”
~Written by a professional provocateur, paid-for with your tax dollars
Well thank fuck nobody gives two shits what the “UN Environment Programme” and the “Environmental Defense Fund” plus a professor of “Population Studies” think. I’ll take investment advice from the metro-homo starring in Wall Street 2 before listening to these dipshits.
Does the market rise fast enough to keep up with inflation?
No.
the 401k barkers came to play also. Reagan dropped income taxes on the wealthy.
July-Aug. 1982 to be exact
The ’70s was a lost decade with the Nifty 50 (including gems like Revlon,Joe Schlitz Brewing,Simplicity Pattern,and S.S. Kresge), a 73-74 crush,’78-80 inflation with basically only energy and PM stocks going up.
My first mortgage in 1981 was 14%- damn good at that time as my $$ in the Merrill Lynch Ready Assets MMF (the first MMF I believe) was drawing 16% interest.
Yo Fly?
Zimbabwe!
Inflation soared, stock market soared!
See?
Well, yes, that is end of world inflation for us. I was tongue in cheek with the Weimar stuff. I realize the Zimbabwe “stock market” is up 12,000 over the past few years. However, the currency devaluation is even worse.
I have a 100 Trillion dollar bill on my wall from the bank of Zimbabwe. Got it on ebay for about a dollar. Including shipping.
Zimbabwe Stock Exchange has being seeing record gains as citizens turn to equities to protect their money from the country’s hyperinflation.
The benchmark Industrial Index soared 257 percent on Tuesday up from a previous one day record of 241 percent on Monday with some companies seeing share prices increase by up to 3,500 percent.
But before Wall Street traders start packing their bags and heading south, they should bear in mind that these figures are just another representation of Zimbabwe’s collapsing economy and are almost meaningless in real terms.
Zimbabwe, once a regional breadbasket, is staggering amid the world’s worst inflation, a looming humanitarian emergency and worsening shortages of food, gasoline and most basic goods. Inflation is at 231 million percent, but some experts put it more at about 20 trillion percent.
Their stock market didn’t soar as much as their inflation. That’s what I meant when I said that old fellas are going to be impressed by their huge portfolio gains, but get confused when they try to buy the $100 tomato with their “huge” retirement income.
What about mining shares? Market up, good for miners. Gold up, good for miners.
The uptrend line is now around SPX 1128-1130
Please no pushing as you go through the EXIT door…No pushing please.
The period of high inflation in the 70’s actually caused most stock PE’s to contract. Only resource based stock PE’s actually expanded.
Except for the recession years of 1974-75, the really high (double digit) inflation didn’t show up until the early 1980’s.
IOW, there’s a lag effect.
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Why is there even such a topic as a hyperinflation a-lá Weimar-style? That has nothing to do with US now. Germany’s REAL economy was destroyed after WWI, and when their government started to print out paper money because of the gap between liabilities and revenues, it was not supported by the underlying real assets. Hence vicious cycle aka hyperinflation. The US now, however, has a LOT of unused production capacity, that is real assets. The aggregate demand is just not there, because of unemployment, and private sector is deleveraging. And because there’s no demand, deflation is the issue here!
We also have a ton of weaponry, which still has resale value. Has anyone priced our trillions in military equipment? How is that not a “hard asset”? .
Any peter schiff/ron paul cultists want to explain that to me?
There’s a glut of military assets to peaceful countries, and those that want weapons would cost us more apres sale than withholding.
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Like the USA’s vastly expanding industrial capacity? I don’t think so.
The recent expansion was in housing and bling. Trendy haircut places, fancy restaurants, bigger luxury. All on borrowed capital. That’s not useful to the long term underpinnings of an economy. Look at what is: Resources, export of hard goods, new technology, etc. How has that been doing in the States lately? Admittedly, not terrible all across the board. Just generally bad. How many of you are enrolling in science and engineering lately? That’s what I thought.
And I’m not talking about international students.
Well, you have to talk about international students. It’s not like we’re living in a mono-ethnic economy of your choosing.
If there were less Indians/Chinese/etc’s in the market, engineers would be getting paid even more, and there’d be more smart kids going into engineering instead of finance.
That’s the market.
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The reason for service sector expansion had to do with growth in income, which WAS CAUSED by expansion of cheap credit. As for exports of hard goods, etc., the form of capital doesn’t really matter. US liquid capital was deployed where it made most economic sense–in China.
Students just follow the money. Lots of construction engineers in China and programmers in India are compensated by their lack of finance/”soft sector” graduates.
NOTE: I sold short more AEM, at $69.70ish. As planned, I will short more at $71, providing it gets there.
Did you refer to some machine produced charts for this trade? 😉
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fuck off
Should there be a question mark at the end of that?
If so, I accept.
What are the prizes?
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Fuck on
Egg-Management Fee.
I tried to hyper inflate once while fucking an escort. She got pissed & charged me double.And speaking of double … I doubled on SPXU yesterday.Hope to hell that works out the way it’s supposed to, otherwise I may have to go to work for the gubment as a census worker.
Got pissed? Literally?
So glad I backed up the truck on FAZ monday.
Made a few bones…
Hey sailor boy, thanks for the lesson in volatility squeeze
Just a little more and AEM will be at the low of day.
Like the targeted ads on the iBC site.
Just got one for an attorney specializing in med mal.
Going to have to disguise my ip address otherwise the next thing you know the local funeral home will be by with some brochures.
If one takes together alleged short squeeze of Paul Tudor Jones, recent retirement of Stanley Druckenmiller, and loss of Kasparov to Deep Blue, the conclusion is clear: humans are losing market battles to bots. Neo, where are you?
The only thing that matters now is PRICE ACTION! If things always traded how they should, we would all have McMansions and have our own “Keeping up with the Kardashians” show. Stop try and PREDICTING and instead start REACTING. Much more profitable.
There’s a fine line between “price action” and chasing. I see alot of people on stocktwits buying tops, and shorting bottoms–because the “price action” told them too.
True tape reading was when I would stop by the local Dean Witter office, when I was supposed to be working, and I would talk with and watch the old cigar chomping guys watching the mechanical ticker going across the top of the wall.
It made a hell of a noise as it chugged along but those guys could tell you what was going on and what the trend was for the day.
Always had boxes of Krispy Kremes laying around, too.
Remember Dean Witter offices in Sears stores?…I think thats where rookies had to start out.
I recall.
Right between the appliances and the outdoor tools.
Actually, Discover credit card was an offshoot of the Sears and Dean Witter combo.
The ultimate hedge!
Don’t leave home without it.
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http://www.militaryphotos.net/forums/showthread.php?8017-IMI-.50AE-Gold-Plated-Platinum-Desert-Eagle
I prefer a couple of these. Easier to carry.
Fly look at ( anv) gold stock i think this one will be a possible short, it has had a monster run.
Yeah, he maybe might have heard of that one.
Oy vey.
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I won’t short any of Jake’s stocks.
Thanks. No way I’ll buy AEM either.
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Holy crap, when will it end? When Cougars Go Wrong!
These stories always remind me of that scene in Monty Python’s Holy Grail when Lancelot (Cleese) comes in to the castle of the vestal virgins to “save” Sir Gawayne (Palin).
“No really, I’m fine! Really!”
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http://www.yozonetrader.com/spx-1
Bought RIMM @ 45 and TZA at the bottom. Read and learn from the Truth kiddies.
Totally agree, all bulls are treasonous and should be persecuted as so.
Where is Pollux?
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I killed him after he bought AAPL
good post fly.
this shit is hillarious
“tighten up”, performed the The Black Keys
the video is set in a playground (where most yall belong 😉 )
http://www.youtube.com/watch?v=mpaPBCBjSVc&ob=av3e
The simian node of my recessive chart analyst says we bounce here at the magical 1030ish. Looking at a small banana of TNA.
Zimbabway stock market…. Way up priced in zimbabwy dollars… Then again, that doesnt mean crap because its zimbabway currency…
But between 1980 and 2000 the money supplied trippled, stocks went up 10 fold. i guess it depends on how you measure inflation and price increases in stocks.
Weimar Germany Timeline:
Year 1922:
1.Bank interest rate still 5% as it was in 1914
2.Bank interest rate rises to 7% in August, 12% in November.
3.German stock market at 743 in January and rose to 8981 in December.
4.From 1914-1922, the stock market rose about 89x (from about 100 to 8900), the dollar rose 1525x and coal rose 1250x.
5.March 1922, 1400 marks per British pound.
6.The general price level over doubles in the first five months.
7.Average cost of living in April was increasing at about 50% per month.
How’s that for a stock market rally during hyperinflation? 743 to 8981 in one year.
Don’t forget stock prices are denominated in US Dollars. When you short the market you are effectively going long the US Dollar (aka Bernanke’s toilet paper) against a tangible asset, in other words something that has real value versus Bernanke’s worthless paper fresh off the printing press…