The futures started ripping to the upside as soon as the floor fell out of dollar support. Yes, quantitative easing, apparently, has already worked, even though it has yet to begin. The Fed is playing a game of high stakes psychology on its zombified test subjects, who believe everything they are told.
It’s obvious, the rally isn’t over yet, as performance chases performance, which in turn chases more performance. Japan’s interest rates are at 0-0.1%, yet their stock market is down 75% from the highs. On the path the Fed is putting us on, it’s only a matter of time before the dollar loses reserve status. Then what? Well, then commodity prices won’t be jarred by the manipulation of the dollar and America really feels the brunt of their economic missteps. But you and I know that will never happen, right? Before we lose reserve status, foreign capitals will be “set free” by several thousand of our finely tuned bombers.
In summary, today I feel as wrong as wrong can be, sitting out and enduring the pins and needles of a 2% lift off. It’s like watching your girlfriend dance with some tool, as you watch from the luxury of a full body cast.
Perpetual melt-ups into the election, in order to set the mood for reelection.
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THE FLY IS GOD. No less
“even though it has yet to being”
He just misplaced the space bar. He was talking about the giant Dutch bank, ING.
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Anyone have an oxygen mask?
“It’s like watching your girlfriend dance with some tool, as you watch from the luxury of a full body cast.”
Now Thats How You Wave A Towel !!!!
FIG
Sir! You are still a gentleman and a scholar!
Obama is a tool.
the dollar was a lot worse under idiot bush #2. eurusd 1.60. obama does not have that much to do with the dollar. it is ben. and, if any republican were president now, this situation would be just about the same. only difference being that the radio and tv mouths that you and your ilk listen to would be proclaiming republicans were saving the country and jobs instead of bashing obama. you are the tool; all of you morons who cannot think for themselves.
Yeah but Obama is seriously a tool.
Rob is correct about the central bank thing.
But if he thinks jumping off the cliff with the socialist lemming troupe that’s been running Congress for four years and the Presidency for two is “thinking for himself” then I can only assume he’s attempting to get his picture in the Psych 101 textbooks under the definition of projection.
Sorry loser, you fell for the dimwit slogans and the nineteenth century failed economics.
Wallow in your shame and keep very quiet.
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“…Perpetual melt-ups into the election, in order to set the mood for reelection.”
if only the majority of people know HOW MUCH THIS IS TRUE…. Woaw. this should be written in the history books.
Very Clever indeud!!!
Except that robots don’t vote.
OR DO THEY?
Unemployment rates will decide this election. They are the reason i was able to predict a September rally back in early summer.
Incumbent parties dont win with 20% “real unemployment”. It simply doesn’t happen.
They could goose this Dow to 15k, the Dems would still get slaughtered.
Ever since you did Rocky and Bulwinkle I have had the most profound distrust of virtually everything you say.
You mean like, “Hey Rocky, watch me pull a rabbit outta my hat. Nothing up ma sleeve. PRESTO!”
“ROAARRRRRR!”
“Bullwinkle!”
Like that?
Indeud.
A tragic day for the arts in America.
POMO is such a HOMO…we have it again tomorrow. I haven’t researched it yet, but how do Currency Wars End? I really thought that BoJ action would at least kick POMO with Fed buying Treasuries in the nuts a small bit, but nope………Anyone study historical Currency Wars?
They don’t end in once lifetime….. it takes years… sometimes decades…
What are some of the famous ones?
I have traded during Asian Crisis when bath collapsed.. google it.. a lot of info
Thank you…I will read up on it.
Nymph, what’s a Currency War? FX intervention? Well, then you should have already read it in the Soros’ book.
lots of commodity accumulation and war.
WTF….All of the Countries are starting to really getting super aggressive in F/X intervention and bad mouthing each other about their actions….this is getting so hot…BoJ is soooo pissssed right now….just getting so ugly. In 2009 it seemed like G20 held hands together…now it seems everyone is picking up daggers, should be fun G20 meeting.
OK. But, as you could see, interventions have practically zero effect. What’s interesting though, is what the governments will do next, when they come to this realization. I see the BoJ’s rate-setting in the light of Kan-san and his team. They are pissed-off, and seem to be resolute on going way beyond interventions to fiscal policies. That would actually help their economy.
DOW 36K FIG
Your words pain…Say it isn’t so Joe, You are not wrong…just early
Adding a 2nd 1/8th allocation in QID at 14.32. 3/8ths total short allocated in portfolio. Will scale down to 2/8ths or less by bell. Ive been talking short about this market for weeks.Its time i build a small swing short again,rather than merely scalping.
Ill capitulate when bernanke rips this laptop from my cold dead hands.
Agreed. I’ve been scalping as well and have started with with a tiny position in TZA at 24.68. I’m betting we fall into the range very soon again. Today is overdone.
How do you know what is overdone?
From what I read here, only HFTs are buying this market.
The retail investor is largely sitting this epic rally out.
So are many money managers.
How do you know when HFTs are done buying?
QEII has done made off with your girlfriend.
when Obama killed that fly I knew it was a sign of things to come
as it would happen, in essence by voting Obama the Dr sealed his own fate. Odd, no?
The trick is to get an erection before they put on the cast. Then you have a perma-boner for when she wants to dance with a tool.
I’d get long some WD40 stock (WDFC)…my printing presses need some lube! WOOOO-HOOOOO!!!!!
this market is fucked up, i’m roughly 1/3 cash, 1/3 longs, 1/3 hedged. treading water but moving up ever so slowly, no fucking idea what to do next so i do nohing
The market appears to be voting for gold as the “reserve currency”, no?
and other hard assets, aka commodities.
Before we lose reserve status, foreign capitals will be “set free” by several thousand of our finely tuned bombers.
You are right. America has invaded more than sixty countries since world war 2.
A CENTURY OF U.S. MILITARY INTERVENTIONS
http://academic.evergreen.edu/g/grossmaz/interventions.html
Reserve currency status is awarded to the country with the biggest, meanest, kick-ass military in the world.
That would be……US!
Guns trump gold, anyday.
But America is in so much debt. It is not superpower any more.
Do you know how much interest America has to pay daily on its debt? Its more than 500 million dollar a day.
USA not a superpower? Go wash your mouth out with soap…..and take off that Chairman Mao hat. You look ridiculous!
You must be joking, Dawgg. How many years have the kick-ass warriors been ass-kicked in Afghanistan and Iraq?
As long as we have nukes and other weapons of mass destruction, we still qualify for the “kick-ass” category, whether or not they ever get used.
America has invaded more than sixty countries since world war 2.
A CENTURY OF U.S. MILITARY INTERVENTIONS
http://academic.evergreen.edu/g/grossmaz/interventions.html
America is the biggest terrorist of the world.
Hakeem, would you be so kind as to give me your GPS coordinates, please?
lol.
Nice.
LOL.
The goal is not to in and leave but to stay in Iraq and Afghanistan and maintain a strong military presence around Iran.. so they are indeed winning (the real goal).
The goal is not to *win*…
dawgg must be a fox news viewer.
Not that such a dim-witted retort isn’t too cliched.
Earth to low-IQ libs/ Al Q’aeda simps — There were actually conservatives in the U.S. before Fox News debuted.
And here’s another horror for you — this is a center right country.
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This is true, and is borne out in history. Spain. Great Britain. US
it just looks like were ripping,just getting back what was in the red from yestaday. just dont see a real catalyst for any of this. have the smoke stacks in this country started smoking again? bullshit,im in no way convinced this country is fixed from any of its problems. the sheeples are just gettin sucked in,if you made a buck,you better take your buck,cant act as if shit didnt hit the fan a couple of yrs ago.blind exuberance
Resistance is futile. You will capitulate.
You’re looking at the lagging indicators. The market is forward-looking. Apparently the collective wisdom (or foolishness) is saying buy!, buy!, buy!, for whatever reason.
Get out of the penalty box and get in the game, if you want to make money.
No, I think you are confusing the collective market wisdom with Cramer.
Please to look at the scoreboard.
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Buck up boy !!! You are still the king.
Just sold my CHIQ after a nice run, because it is lagging today.
US doesn’t lose res.erve status until someone else’s navy overtakes ours
see comment below – not sure how I doubled up a comment
Very good. You are looking at an (sic) historical lesson.
Britain lost it to us in the last century, after taking it from Spain in the 16th Century, or thereabouts.
Indeud. We (the glorious USA) control the seas and therefore shipping and trade.
Navy used to be the only means to reach distant states/territories, hence its historical importance. No more relevant. Capabilities in space and unmanned warfare are the new navy.
Roger that.
Once we start beaming products across oceans, maybe Navy will not matter so much. But someone is implicitly protecting commercial ocean operations, and it’s not a satellite.
Tell that to tanker operators. And Somali pirates.
You hear of any US flagged vessels being pirated recently?
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US flagged vessels? You must be kidding. I NEVER heard of US flagged tankers in those waters. Why would there be any? Somalian’s marine business would thrive by selling captured US sailors to local Al Qaeda representative office for participation in an Al Jazeera Saturday Night Show.
Is there a such thing as a US flagged ship other than our navy? All the boats I’ve seen have some dodgey flag like Panama, Ivory Coast or some other tax dodge locale.
Last time they tried your Pirate heroes perished from excess lead poisoning.
Start reading for cultural literacy, clowns, I am not your tutor.
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lol @ joey bag
The robots concur. Hoo-yah!!
US doesn’t lose reserve status until someone else’s navy overtakes ours
id also like someone to explain how China will repo all of our stealth bombers
Do wire hangers open those locks?
Dat wourd lequiah rots and rots of leepo mens!
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Losing reserve staus is not an event… it’s a process.. lol
$US has way more room to fall
Confucious say, vote fo’ renminbi instead of fooktaahded dorrah!
You all like eat flied lice wit yo pork chow mein?
Obama is the worse president in the history of America. Obama is destroying the US dollar.
Bu bu bu bu but, we have free obama care! An an an and obama dollas!
it NEEDS to destroyed…. it has no business to be reserve currency
Long live GOLD
PS. it was not me… it was some gold bug in me… lol
This bull market is far stronger than the index shows.
Leaders are challenging and breaking new 52 week highs.
Dividend stocks and REITS ignored the Apr-May drop and have done nothing but go up.
They have sliced through my covered calls and I can’t roll up fast enough.
The Fed is replenishing IRA’s, 401K’s, 403B’s, Pension Funds and Insurance Company Portfolios to compensate for your losses …
Just in time for an election. What-da-ya-know.
Of course I get no respect. My last two posts called it…yet again.
Here – http://ibankcoin.com/king_of_the_pg/2010/09/28/the-long-and-short-of-it/
and here – http://ibankcoin.com/king_of_the_pg/2010/10/01/attention-%E2%80%93-the-king-is-leaving/
The question is – How long can I be ignored?
Your award notice is in the mail, courtesy of the PPT.
Bag of broken clocks? Kid, you have no idea. Read all my posts since I started writing at P.G. and prepare to get surprised.
“If you’re still waiting for “the next leg down” this fall, explain to me how the democrats won’t get routed during the elections.
I’m not pro republican, or pro democrat. The issue is this–fund mangers are conservative!
They will have more confidence in stocks this spetember, as they see the democrats headed for certain defeat.”
I wrote that on a blog back in mid June. You don’t see me bragging about it in retrospect
oh, wait…..
Fair enough. I deserve the protests. How dare a PG blogger thump his chest after all, right?
Panama, to answer your question, you are assuming the “next leg down” is solely predicated on the democrats not winning the elections. I never made that assumption. For me the “next leg down” is based on myriad of indicators and variables, many of which I have already explained in my posts. They are based on studying consensus, respecting momentum, monitoring overbought/oversold indicators, a few esoteric indicators and understanding that every market is different, which makes it necessary to be nimble with the kinds of indicators you use.
i meant to say “….democrats winning the elections….”
“Joey” is on a roll today!
LOFL.
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Fuck the respect,
If you are as good as you say you are, you are rich and enjoying life
Leave the respect earning to the idiots on CNBC
I agree. I meant the whole “respect” part in a rodney dangerfield manner, not to be taken seriously. My posts on the other hand, MUST be taken seriously!
Did you read The Fly’s previous headline?
“Shut Up and Sit Down”.
Nice calls, but I will outsmart you in the end. I always win.
Cannot argue with you.
i do like the thoroughness of your analysis.
But, the timing for celebrating it is a bit off. We’re awfully close to a blow-off top here. Which is why it is time to pre-emptively celebrate riding the move down—much like the fly is doing.
Thanks. I am also expecting a major reversal this week as mentioned in my posts.
This is my new paparazzi-proof gravatar – to be used until my Jan 11 puts kick in, or someone takes off my FUCK-KIN moustache at Dow 12000 (sometime later today).
Lol @ braveflaps aka megacallspreadflaps aka disguiseyflaps aka….?
“Sub-Commandante Braveflaps” is still my fave.
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Me too
Indeud.
The Sub-Commandante is busy battling narcotistas on his ranch way down south. The disguise is to help his flapsclone avoid Ukrainian gangstas in the ‘Bu, not to mention the sting of a dragging P/L thanks to a hedge that, even today, he will most likely keep.
Another higher high …. Booyah!
I’ll second that Boo-Yah!!
Dow near 11,000, sheriff murdered, crops burned, stores looted, people stampeded, and cattle raped. The time has come to act, and act fast. I’m buying more $VXX.
It will be interesting to note what the PPT hybrid score will be after today’s melt up action.
I may start to unload some of my short term positions this week.
Industrial stocks look particularly vulnerable to me because of valuations and over exuberant analysts raising estimates.
Regardless, still long and strong into this rally.
Hey Jake The V.King sold all his new STEC stock for a nifty $35,000 in profits…
Now that i’ve finished with that business, I ask you kind sir, could you list for The V.King the top 5 progressive Obama cock suckers on this board….
Thanks
Do you remember around March 2009 when the Pres said, “I think…. based on certain… uhhh… price to earnings ratios… it’s probably a good time to buy stocks”
Does anyone give him credit for calling the bottom?
Don’t be a hater, he’s saving the world and the stock market.
…and could you please include their GPS coordinates? Thank you.
You can find me at Dow 14,000
You know that little beeyotch dpz is hiding here somehwere…
Message from Bearded Clam Bernanke to Fly:
“QE 2 muthafuckaaaaa!!!! How u like me know biatch!”
Art Cashin: Markets Could See ‘a Real Reversal’
“The markets are at a very critical juncture,” Cashin told CNBC.
Cashin said 1,150 to 1,160 is going to be the “key resistance area” on the S&P 500.
“And if they try one more time and fail, we could get a real reversal,” he said.
http://www.cnbc.com/id/39499589
Well, Cashin called also the August top.
Art Cashin: Markets Are ‘Forming a Top’
http://www.cnbc.com/id/38575068
In August he called “a” top, this time maybe a “real” top.
Who is Art Cushing?
Bull markets have no top
Cashin is an old man. Pay no attention to him.
There is no such thing as a reversal. The FED will not allow it. Stop with this childish talk. The bears have been murdered for talking that gibberish.
That sting you feel, is pride. Fuck pride.
I wait in silence. Ready to jump your ass with a omniscient market call.
(Beware. “POOF!”…is coming!)
11k .. it’s like a white light lol and I never watch the dow..
today is an exception
Where is Charbuckle?
Just programmed my pet-bot to sell VXX when the next bubble bursts. Betting on that is a more certain thing than holding gold.
Selling balance of ETH, +40% since 9/2/10.