For a while, I had it this market all wrong, trying to reason with it. This is a market built, from the ground up, for the most ignorant people on Earth. No one cares about ANYTHING. Coincidentally, aside from my family, neither do I. “The Fly” can get as ignorant as any of you, probably more so than a factor of 5, as evidenced by my taste in “music.”
I’m not even investing any more, just straight up gambling from a lotto perspective, with millions on the line. Live fast, die hard, that’s the way I like to play.
Into the stratosphere, I am buying stocks that have earnings “issues,” like JST and BRCD. Also, I am long large quantities of FTK, MERU, CSIQ, without a care in the world. Bring the market down; I dare you.
Do you want to talk about the economy or riots in France or the fact that the GM ipo will watermark the top in this market for the next 10 years? I gather the answer is no, due to your reluctance to pay homage to the basic laws of fundamentals, all being ignored by the “BIDU crowd.” A new breed of investors are being baptized by long only robots at Goldman. Frankly, why get in the way of a good party, when the coke is free and the booze is fluid?
Bottom line: My bias is long until we stop going up.
[youtube:http://www.youtube.com/watch?v=3GPMSj8pQn8&feature=fvst 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
fig
asshole
TFIG
you guys are pure OCD. He didn’t even write the piece yet…
Not ocd just not clever….
Just bought 10,000 OCD
We know it’s going to be:
Adam Smith+Shakespeare+Einstein+Steven Hawking X 10 = The Fly
Nikola Tesla in there too.
Tesla>Edison
be a pity to leave out Newton
this things has been developing longer than a baby in the womb. Fly must have been pulled away by Mrs. Fly. Anyway, this market is anything but dead. We keep rising on nothing. Buy all solars here, we are headed to $100 oil.
Should be smth monumental. It’s been “developing” for half an hour already.
Damn, my leader is as confused as I. Just go long with junk, I guess, is the message.
We will never stop going up. This is simply an up only market. There will be small pullbacks along the way, but there is no reason to short this or sell positions. I am currently 80% invested in bullcrap names. I am getting long all kinds of commodity plays as the dollar gets thoroughly destroyed for the last time. We go nearly straight up from here through 2012. I am still unsure if we start to turn down at the beginning of 2012 or the end of it. Either way, time to get fully invested now, and enjoy the ramp up.
I think he is outrunning the dog sex ads.
Need to get the Bullfrog on this one.
Agree on GM IPO being the high water mark. Do you know how much the price has to rise to make the taxpayer breakeven?
Like… $130.
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You won’t even remeber how to swear by the time the DJIA hits 10000. If ever. I recommend you change your rule to “inflation adjusted dow 10000”.
130 it is, as congress dances to their favorite bachata songs
heard they were gonna do a 4-for-1 split prior to offering so Joe Sixpack can afford to buy some shares…
Commodities are hot in Japan
Nice post, your clients will be happy.
Flyaway
It takes a big balled man to tell it like it is. Do you think it is investing, at this stage?
“The Fly” can get as ignorant as any of you, probably more so than a factor of 5, as evidenced by my taste in “music.
“A new breed of investors are being baptized by long only robots at Goldman”
Self deprecation and pearls of wisdom in the same post. Love it, senor!
Fly, ever thought about a chat room for us here intraday?
I know, more chance for you to be bugged but is there any other respected intraday chat? Twitter doesn’t count
Try the PPT.
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what happens if dollar doesnt actually bounce, that’s what im wondering
With no acronyms nor slick abbreviations I tell you what happens. Shit Happens. Always has, always will.
So, you think the GM ipo is going to be like the PALM ipo was for the tech bubble. I am in another camp. I think this run-up is simply high inflation getting priced into the market. Companies are all going to raise their prices to reflect the new reality of a nearly worthless dollar. And as the dollar continues to crumble, they will raise prices to keep up. I know that companies have no pricing power right now, but that is changing imo. They are going to have no choice but to raise prices as input prices soar. Enjoy your 99 cent hamburgers while they last. They will either be much smaller than they are now, or they will be $1.29.
Arby’s already figures that out. I mean $5.35 for a sandwich that costs maybe $.50 to make now.
“The Fly” can get as ignorant as any of you” … I doubt that since I’m the DUMBEST MOTHERFUCKER IN THE WORLD! But if the market crashes I’ll be the smartest !! Go figure.
silver parabolic until SLV hits 27. With that being said, AGQ I sell because I’m a wuss mostly.
Interesting fact I heard this weekend….Total outstanding college debt is now larger than total outstanding credit card debt.
Sweet, maybe that’s why college stocks are “turrible”
But then again maybe it’s a new trend…
Personally I think there’s going to be some people who start going to school online for cheaper… While others say “yay free money”… and “sure I have to pay it back, but I live like I’m going to die tommorrow and drink like a fish, so who cares! Give me a Big loan and I’ll continue to refinance it so I can pay it back when I’m dead.”
What the fuck does ‘endemic’ mean?
“”processing of foreclosure documents without proper review appears to be endemic. Bair added that if foreclosure documentation is largely intact, and the issue is procedural rather than fundamental, she doesn’t expect banks’ exposure to be significant””
Standard Operating Procedure … means it’s no big deal for banks to foreclose without proper procedure. Crooks!
So they don’t do proper review before foreclosing. Nobody cares except the homeowner/borrower. Again .. Crooks!
If we were playing balderdash I would say “A pandemic in which the result brings about the end of the human race or a panic about the world ending in 2012. “
Some already fucked up loans are just a little more fucked up.
Just means widespread.
No google on your computer?
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A Tale of Two Stockies
Company A Company B
Annual Revenue 26b 42b
Profit 10.8b 20.3b
Profit Margin % 28 24
Operating Margin % 35 39
Forward PE 19.4 9.9
Earnings Growth % 24% 59%
Why should Company A be market valued more than company B?
Company A has market cap of $195b. B Company B $110b
Company A is the overvalued piece of shit Google. Company B is Intel.
Proving that the stock market is a RIGGED GAME!
It only proves that it ain’t easy…
Or that people don’t want to buy intel at this moment in time. It only proves the market is not efficient, or perhaps Google has a better chance of being around in 20 years and plays a bigger role in the mobile boom, etc, etc. Google exists regardless of what hardware you use to access it. As more people will look to buy things online, advertisers will make more, and be willing to pay more overall. It’s like blockbuster vs netflix or coinstar only less extreme. People can go online on their iphones and ipads and watch a movie, they can go on their PS3s, their Wii’s. People can access it around the world rather than traveling and having to figure out how to waste gas and drive to a place only to pay late fees. People can use an app on their iphone to order a redbox film when they are grocery shopping, or if they know they will be nearby towalk in and pick it up. They can buy food at amazon through an app on their iphone. They can use google to search for all of this.
People may start to use Apps and smart phones more, where does intel have a role? What happens when everyone in the world already has the hardware they need, what’s next? Software and apps which can be developed by anyone, or outsourced to India, Philipeans, China, or elsewhere, then sold through apple’s istore.
Intel may be dead like Blockbuster was dead in 99 when netflix started it’s subscription service… It just might take a decade or so before anyone realizes it… but the movement is always towards smaller and more effecient once the previous technology has grown so large it cannot expand in the same way. People don’t want to sit down anymore just to use a computer, they want to use it on the run, they want to use it in front of a TV, they want to carry it with them. Next up would ahve to be a real great innovation.
I guess Intel isn’t “doomed” with no chance to survive… But unless they innovate and have breakthroughs in nano technology, and maybe develop a technological eye patch looking thing along with a glove that allows people to use eyewear to see the screen as like a transparent image in front of them and use the glove or gloves to type, and then develop glasses that do the same thing and eventually a contact lens and something that can go undeteced to control it like transparent electrodes with thought technology or transparent motion active things that go on your finger tips that go undetected, or something really cool like that, they will get caught napping thinking they can do the same thing forever without being replaced by something newer and better and probably smaller.
I can just picture someone waving their hand and then typing on a desk and send emails at work, then tapping twice to make it go away and then continue working, and if they think of something else they tap the desk twice to “unpause” the device, and eventually fewer and fewer people will have to drive to work, and they will be able to just think of someone they want to send information to and confirm by moving their hand in the air. People will not even need school because they can just think of a question in their head and they’ll have the answer, or they can think of someone to ask directly. It’s like everyone will join into this network when they wake up and they will be able to interact in a way that makes life so much easier for everyone.
but that’s maybe a couple decades away perhaps.
point is, people with money just don’t want to own Intel as much as gGoogle. Maybe it’s because Google is what’s on people’s mind and they don’t think of the processors and stuff, or maybe it’s because they are thinking 20 years down the road, or maybe it’s just the “flavor of the week”. I don’t see how this makes it “rigged” or how you could “rigg” a game in which for every buyer there’s a seller (negative sum game because of commission and taxes)… I mean It’s already rigged enough as it is with commission and taxes and fees, the individual pricing of anything doesn’t matter.
Intel not innovate? Where are you from?
Re: Riggedgame, Can’t you love both of your children?
I need a computer to think for me directly..
Ever heard of FCF, Capex, cash on balance sheet, trend of earnings growth etc? Look it up.
GOOG = cash machine.
It’s called dilution. Traders can’t move INTC around like GOOG. If GOOG splits 10:1 then you’ll see what I mean. Remember FAS? Remember how it traded prior to the split?
-Enuf said.
JST was pretty good.
http://chart.ly/pj6iua5
The bearish volume divergence in AAPL is pretty severe here. It is a completely different situation than we saw with GOOG last week.
I wouldn’t go knife catching it until we see 290, and then, 250.
I think the entire world is Long AAPL into earnings. We all saw what GOOG did and think we’ll be vacationing in the Caribbean for the rest of the year when our trading accounts are worth 100% more after they report. It can’t be this easy, can it? Anyone think AAPL tanks after earnings? I’m hands off of this play. Or how about it goes nowhere for the next week so the premium in the weekly options dries up?
Fly and FTK ?
http://yhoo.it/cAZN8h
I am about to be Junior Seau in the TZAmobile.
So PPT be damned … buy the dips?
what dips?
The dip coming after 1220 will be the best one to short or reload
lol.. really? no, really?
Really!
Looks like the financials want to join the party … the catalyst to 1220
Look at MFC breaking out of that triangle as I type!
OK, let me ask you all a simple question: What is driving this market right NOW? No, really. The QE expectations should have been totally priced-in by now. Besides it was quoted today that the Fed thinks there’s enough liquidity out there. So probably no purchase of assets before next FOMC. Frenzy of animal spirits? If so, then where’s fear?
Not necessarily. As bizarre as it sounds, this could be presaging a real recovery. Regarding foreclosuregate, weren’t these underwater houses and foreclosures already in the market. We know the banks were pretending the loans were good. Now they want to pretend to foreclose. The money is gone regardless (past tense). The “homeowner” has money to spend, the world continues to turn. I don’t know if the market has priced in whether or not the banks need to “buy back” some of the securitized stuff, but Armageddon seems to be so 2008.
With rates so artificially low, it’s mo money, mo money, mo money that will be used to buy out competitors or take companies private. If M$FT can float bonds that effectively pay zero, and dividend yield on SP 500 is 2.3% (excluding zero payers) what makes more sense? Buy stocks or buy stocks?
Why fight a liquidity driven market …. coming off presidential & high tech cyclical lows?
I dumped KWK last week to raise some cash and today insiders want to take it private … that’s the market we’re in and Fly recognizes that too.
Ouch.
James “KWK” Tillis?
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Just made a new high on SPX for this wave …
Dear Stock Gods….Please kill AAPL in the most bloodist way possible…I don’t ask for much…
After 20th.
I don’t want to wait for a 11″ special…Mac Air, so been there, done that
Smashed estimates!
Down 17 bux!
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The Fly knows his music!!! SLIME
Wonder what happens when GS (and friends) end up owning all the stocks in the whole world all purchased with FED bux?