The apocalypse for tech stocks is here. Had you cast aside reason and logic yesterday and bought shares of CRM, EQIX, RAX, FFIV, VMW, AKAM, MELI and BIDU, you are regretting the day you were born, and more. It’s just the tip of the iceberg, really. Those stocks are still trading at absurd p/s, FPE ratios. Fundamentals really do matter, despite what the quislings say on CNBC.
Affectionately, I embrace the coming drop in the indices, as they will cleanse the market of all the people I hate most. All of you low quality men shall be washed out, amidst a sea of red. And it will not be a surprise to anyone but you.
I realize the overall markets are still holding up; but not for long. This is the opening salvo into a series of future shocks to the system. Once the dollar firms up, elevator down, gentlemen. As an aside, I bought some AKS, in an effort to bet against myself. Do not take that purchase too seriously. I still think we trade down 10% from current levels.
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First!
we are going higher
what technical indicators do you use? Cramer?…get some new indicators
I agree, fuck Cramer. But what gives you a lot of confidence that we will see a sharp sell off in the markets? What the fuck is a sharp sell off now? 10% ?, that takes us to 1,050. Big fucking deal. You are trading against the big banks and the Fed. The trade this year so far was just buy long a non-leveraged ETF or TLT, turn off the fucking TV, and see your account 6-8% higher at year end without all the heartache and drama this year from May until today. Fly had it right with TLtTearly in the year. He should have stuck with that. Since late summer, he has been all wrong.
We go higher. Don’t ask why, just trade it. The market just completely dismissed a bad jobs number, so I sure as hell wouldn’t be short. I expect much more upside(11500). However, hedging always makes sense. I don’t think he has been dead wrong, he just wasn’t bullish lately. Dead wrong is being mostly short.
Yeah, but according to what he has posted, he is almost 100% TZA/VXX in his personal accounts. Looking at the tape in Sept through yesterday, he has been dead wrong on that one. Granted in his client’s accounts, it is a whole other story. Not really sure why he uses 2 vastly different trading approaches to his trading. On the one hand there is a sensible, level headed guy trading his client’s accounts and doing extremely well, and on the other hand, there is this other guy that almost borders on being a gambling fanactic, but still making good coin. He seems to chase the thrill of a risky trade. Maybe Fly is cut from a different cloth from most of us. Perhaps he has bigger cojones than most of us. But man, I would be 30 years older trading the way he trades in his personal account. Really, the only thing that stands out this year from Fly that has been a real golden nugget was getting into TLT.
Yeah, thank god for his “golden nugget” TLT call, because the whole PPT thing has really been a bunch of bullshit…especially from May – August…
And his ATS buy is already down 1.5% now. We are probably at the top of a new trading range, and FLY went long at the top of the range. His timing has been off lately, like his TZA buys. And his VXX, well that is another story. That position is dead in the water, and he knows it. No fucking chance with that one. At least with TZA, he might be able to recover half of his paper losses, but no more. This market has found a bottom.
“ATS buy”?
The Fly is loading up on thermal weapons sights?
http://www.ownthenight.com/catalog/i215.html
Good luck escaping his view from the balcony now, he can see you through the wall.
My bad, I meant AKS.
Fly, I am not judging your every move on a minute by minute basis. But after what has happened the last month, it gives one pause. That is all.
I did not go long, as you say. I bought a stock, far from “going long,” compared to my overall holdings.
And quit judging my moves on a minute by minute basis.
I bought a little TZA yesterday and will buy a little more tomorrow if there’s no more fuckery. The Fly is correct.
Why?
http://maddmoney.net/jim-cramer-says-buy-netflix-inc-nasdaqnflx-akamai-technologies-inc-nasdaqakam-amazon-com-inc-nasdaqamzn-salesforce-com-inc-nysecrm/
Question is, will Cramer blame
A . Obama
or
B. “Leveraged short Etfs of mass destruction”
Because it can’t , ever, possibly be his own fault.
cramer pulls that shit whenever he needs to dump something,fucking baldylox
cnbc headline: Cramer: Housing ‘Can’t Hurt Us Anymore’
he is not stupid, but he is dumb.
quisling: nice word
Mark it zero, dude.
This isn’t Nam, Sparky, there are rules.
You are about to enter a world of pain.
I have to call the league about this.
the naz just took back yesterdays lettuce,easy come easy go indued
Let’s not get too cocky here. We are like 8 SP points from weekly highs. Another late squeeze and all this is undone.
We are talking leadership: Nasdaq. Not SPY.
SPY is next.
Scott B has a good blog on Copper charts….says it all.
Robots come on line soon…
Fly- What do you think VXX trades at if we get a 10% drop from here?
Dear John: Do you think the Fly is some kind of superhuman with a magical crystal ball? Why don’t you grow a set and put your money on the line like the rest of us.
these days vxx goes down no matter which directional way markets grind.
Tech needs to be crushed…I keep moving in and out of contention for that VXX T-Shit.
Gah!
Vandalism!
Get a CO-2 extinguisher!
______
You’re only good pitcher “CC” just walked a second rate batter to tie the game.
nice…
Check this out top holders of bombing stocks today:
Needless to say, FMR is not having a good day (they are a megafund).
EQIX===
GOLDMAN SACHS GROUP INC 12.63%
BAMCO INC. 7.76%
WELLINGTON MANAGEMENT COMPANY, LLP 6.47%
WELLS FARGO & COMPANY 5.68%
RAX===
WELLS FARGO & COMPANY 15.21%
FMR LLC 13.91%
Norwest Venture Partners VIII, LP 9.64%
Legg Mason Capital Management, Inc. 4.19%
FFIV===
FMR LLC 7.46%
Barclays Global Investors UK Holdings Ltd 4.62%
TURNER INVESTMENT PARTNERS, INC. 4.14%
Coatue Management, LLC 3.97%
Ameriprise Financial, Inc. 3.75%
American Century Companies, Inc. 3.73%
VANGUARD GROUP, INC. (THE) 3.55%
WELLS FARGO & COMPANY 3.53%
EBIX====
FMR LLC 13.11%
Barclays Global Investors UK Holdings Ltd 4.88%
EMERALD ADVISERS 4.48%
MARSHALL & ILSLEY CORPORATION 4.28%
VANGUARD GROUP, INC. (THE) 4.25%
Tiger Global Management, LLC 4.03%
CRM====
FMR LLC 15.04%
SANDS CAPITAL MANAGEMENT, INC. 6.44%
JENNISON ASSOCIATES LLC 4.99%
VANGUARD GROUP, INC. (THE) 4.26%
CTXS====
FMR LLC 10.26%
WELLINGTON MANAGEMENT COMPANY, LLP 7.42%
VANGUARD GROUP, INC. (THE) 4.86%
Barclays Global Investors UK Holdings Ltd 4.30%
Notice a trend?
Clouds evaporating.
Holy fuck that’s almost $500 mln those fuckers lost today.
Also check out Coatue Management and their holdings. They may have natural gas spilling out of their faucets soon, although they’ve had some big winners. I haven’t checked $ amounts in each:
1 AMTD Coatue Management, LLC
2 APKT Coatue Management, LLC
3 BIDU Coatue Management, LLC
4 BPOP Coatue Management, LLC
5 CIEN Coatue Management, LLC
6 CTXS Coatue Management, LLC
7 EK Coatue Management, LLC
8 EQIX Coatue Management, LLC
9 FFIV Coatue Management, LLC
10 IRF Coatue Management, LLC
11 LVLT Coatue Management, LLC
12 MGM Coatue Management, LLC
13 NTES Coatue Management, LLC
14 NTRI Coatue Management, LLC
15 SIMO Coatue Management, LLC
16 SOHU Coatue Management, LLC
17 STEC Coatue Management, LLC
18 SWI Coatue Management, LLC
19 SYNA Coatue Management, LLC
20 TZOO Coatue Management, LLC
21 UTSI Coatue Management, LLC
Maybe they just liquidated.
Don’t be sad, Do the Hugh
http://www.youtube.com/watch?v=whL9DvjYkR8&feature=player_embedded
Frank, thanks a lot! Love that guy. He is THE voice of reason.
Still long TITN.
Still short NFLX.
Still laughing at me?
Yes, because it’s Dow 11,000. You mentioned something about Dow 9,000 quite awhile back. No?
Yes, and I maintain that we’ll see 9k. My time-frame was off, that’s all.
Fly, is that the market drop you were anticipating?
Sentiment toward USD is so bad right now is like a death spiral going out of control and yet FED is so happy and not wanting to do anything about it? Funny thing is that we don’t see mass protest against killing of USD. I guess everybody love to have $100 per gallon gas?
I want $200 gallon gas, and 10% inflation for five years, to bail out pension funds
and mortgage payers and to give the old farts a decent return on their CD’s
and to screw the Chinee and the coupon-clipping rich.