I haven’t made a single trade today. My positioning is just fine, despite my 20% allocation into TLT yesterday. My losses are very mild and I do intend to make them back soon. It’s a slow Friday afternoon, ahead of the apocalypse. Europe doesn’t have shit going on. LIBOR is rising on a daily basis, as well as Italian, Spanish and Portuguese 10 yr yields. They are bluffing and you will learn these lessons soon enough.
The ceiling for the month of October has been reached. We trade lower from here, then spike in November. That’s the way this is going to play out, whether you like it or not.
“The Fly” has managed to freeze himself in time, pinning his 16% gains to the wall, regardless of the tape. My research in the food and beverage industry will be completed this weekend, giving me names to buy into weakness. I am pleased that you made money in this tape, even if it was the result of blind bullishness. Optimism is not something to besmirch. The world needs more people like you, in order to build funhouses and clown cannons.
My life is designed around the idea of destruction. Even when building up iBankCoin’s traffic on a monthly basis, spreading the word for almost 4 years (our anniversary is coming soon), I am obliterating numerous 3rd tier sites without regard for human life.
I have laser beams, orbital space cannons and Saddam era SCUD missiles domiciled in my Brooklyn silo. Do you really think I give a fuck about a little 175 point melt up, whilst largely in cash and/or hedged?
Have a good weekend.
UPDATE: I sold short EXH
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Clown cannons?
http://www.fionasplace.net/PSPTubes/clown%20tubes/clowntubes.html
The Fly is God.
Zombie is late
Defarge
05 bdx weekend or more subdued northern rhone cornas?
we know bubbles will be flowing next week for the apocalypse…
I echo your sentiment. I haven’t made a trade today either, despite giving back a large portion of my egregious unrealized gains in my short positions initiated on Wednesday.
Fun Facts About Our Friends on CNBC :
This info brought to you by the website “Celebrity Networth” !
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Jon Najarian – net worth $50M
Pete Najarian – net worth $25M
Gary Kaminsky – net worth $300M
David Faber – net worth $40M
Anthony Scaramucci – net worth $80M
Joe Terranova – net worth $30M
Jim Cramer – net worth $100M
Peter Schiff – net worth $70M
Bill Gross – net worth $1.3B
Jim Rogers – net worth $300M
Erin Burnett – net worth $12M
Maria Bartiromo – net worth $22M
Suze Orman – net worth $35M
Rick Santelli – net worth $3M
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Just sayin’
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Well done alf. Well done.
Good for Erin. She deserves that 12 mil. In ten years, she will be worth far more.
no wonder santelli is always pissed off; all his colleagues spit on his stash
how is david faber worth 40m? inheritance?
Yet, Rick S has the best read on the market, go figure.
haha,
i know a shoemaker… he also does some other stuff ..
23 years ago net worth – zero
now -7mln+ change
he has nor read on the market, he doesn’t watch CNBC, actually I have just called him to confirm – he has never seen a single show on this channel.
… that Faber number surprised the hell outta me too.
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Maybe he’s Marc Faber’s son?
_______
… that is actually damn funny !
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I think he HAS written a book or three !
STILL … $40M is a bit schocking ! imo
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Wonder how much of Santelli’s personal fortune has gone up his nose?
LOL !
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All the research required to assemble net worth data is worth it. Each of us can now have something to talk about and piss and moan and offer excuses, blame and dumb luck. I would have thought there to be more worthwhile time expenditures like figuring out when Rex Ryan will shut his fat fucking ignorant mouth and come to grips with the fact his Jets are a piece of lawn dirt.
@ruggyup – I was more surprised by the relatively low net worth of some of the more outspoken members on the list. The backstory is what’s interesting.
i call bullshit on gary k’s numbers and on other numbers posted here
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An American television host, Gary Kaminsky has a net worth of $300 million. Gary Kaminsky gained his net worth as the former Managing Director and Portfolio Manager of several multi-billion dollar investment firms. During his time at the firm Neuberger Berman, Kaminsky grew their funds from $2 billion to over $13 billion under management. Gary retired from Neuberger in 2008 so he could appear as a regular on CNBC’s The Strategy Session. Kaminsky was born in New York where he graduated from the Newhouse Communications School at Syracuse University with a B.S. In Radio, TV and Film Management. He later received his MBA in Finance at New York University in 1990.
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I received my MBA in Finance from NYU too. I’m still working towards $300M though. A few hundred million to go.
not true, Random numbers there. Cramer is worth more.
Fly – That one surprised me. He stated in a business week article in 2005 that we was worth $50-100 million. I thought he was well over $500 million.
… yea I would think Cramer is worth more too !
Just posted what the website shows !
Certainly not vouching for the 100% accuracy of the numbers ! fwiw
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They also show :
Joe Kernan – net worth $8M
Larry Kudlow – net worth $80M
Guy Adami – net worth $30M
Jeff Macke – net worth $25M
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It’s all bullshit estimates.
I do that shit w. my clients all the time.
Figure out the worth of their (closely held) bidness and then add 15-20% “cash.”
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They probably only claim what they have in bank/investment accounts. Cramer probably has another $100M in gold coins but doesn’t like to talk about it.
Jim Rogers is a Billionaire. How is he worth only $300 mil ? That Gary K numbers seem too high as well. $100 mil sounds right for Cramer maybe $150 mil. No estimates for Dennis Kneale ? how about the Admiral Oil Barrel Bollinger ? What about the Fly ?
where’s joe kernan?
… he’s there … look again !
In the reply post to “Fly” !
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Good shit Alf!
Nice to see your alive and well, as I figured you jumped off the roof after all the haters here, and your big short position.
You’re
Dumb fucking plumber.
Thanks !
I am here … by the generosity of “Senor Fly” !
I AM … “Shorter Than Verne Troyer” !!!
I AM … frankly … less than comfortable !!!
This “Market” … and it’s direction … is as predictable as a “feather in tha wind” !
That said … I REMAIN … ALL IN SHORT !!!
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Full Disclosure : currently DOWN just shy of – 12% !!!
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YES … it sucks !!!
I’m “hunkered down !!!
😉
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… rest assured … I will be just fine !!!
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… to be clear …
WAAAY UP ON THE YEAR !!!
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“Full Disclosure : currently DOWN just shy of – 12% !!!”
On THIS Trade ONLY !!! fwiw
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We shall see !
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Suuuuure. How can someone be “way up on the year”, yet be down an astounding 12% on one position, in the face of a multi day run? That shows poor money management. People who stay in this game a long time do not allow such large losses during powerful mkt movements. BTW, I’ve been reading this sophomoric site for 2 months now, and I can say this idiot teenager who runs this site will be doing something other than professional money management 5 years from now, and that result won’t be due to a successful retirement.
Blind bullishness is what this country used to be made of.
Now everyone just likes to bitch and complain.
I on the otherhand will start another protest. Eradicate the crabbiness #ETC
We will start in Steve the Neighbor’s front yard.
You better have those clown cannons locked and loaded.
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Can you imagine Fly’s blog posts this weekend when there are clowns being shot back and forth between Steve’s and Mr DeLuca’s front yard?
he’ll miss, an hit a lawn jockey thinking/hoping it was old man deluca
Low volume in IWM
alf44 is worth 4 million……………yen.
Ha!
alf44 is worth the time value of money. So figure how much time you spend ponderating his musings, multiply that by your extrapolated hourly rate compare that to $0.02.
come on man.alf is cool
… tha check is in tha mail, drummer !
😀
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that was unsolicited my one eyed friend
It’s time to bite the shorts in the butt.
Whoa! Easy there tiger!
Oh great. Lets go up on hope. That’s a winning strategy.
Treasuries not moving at all, kids.
The English Clam is being called to testify on Tuesday to explain why he went all QE2 this month..fwiw…I will have that Spine soon.
And Sunday Night we get Flash PMI’s for China and Europe..can we say below 50 in a big way.
Lol at the English clam
Is that like Icelandic clam?
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Jake..lol, its a King Clam,ala Merv
Any thoughts on FORM down here at 6 bucks. They have over $6/share in cash with no debt. Short interest is high.
I like form
Me too. Own it.
Thanks Fly.. Hope all is well. FORM is a customer of ours and they still stand to benefit from huge cap ex from Intel. Anything could set off a short squeeze at this point.
Sierra
Sierra, where the hell have you been, son?
I thought you went to your bunker or something…
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FORM, Falling knife..watch for only support at 5.90/6.00 which is weak and resistance at 6.39ish which it should kiss then continue to fall.
Did the copper chart tell you that?
Interesting article on the price of crude oil written in the early days of the Iraq War. Crude was $35/barrel.
Crude oil is a screaming short.
http://zfacts.com/p/377.html
I have an unconfirmed suspicion that today may have a murder hole hidden in the last 30 minutes. So I got out of my GOOG trade a few minutes ago.
Some murder hole.
I almost can’t believe it, but the dollar looks like it’s headed to test the lows again… especially if it breaks through $76 here.
Risk on, Monopoly playahs.
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We should get some help with the Dollar after the Euro-tards get done this weekend. But that chart does look pretty gruesome.
Fly, what is your average cost on TZA (currently $36.50) where you are “All in” in you highly leveraged “personal” account?
@Fly – Any idea when the replacement to the PG will be introduced?
Where is VEGAS TRADER II????
Chop chop, time is running out.
Crickets
I have pair of hedge clippers if you need to borrow.
Hello Mr. Fly,
I RSS over a hundred blogs but there’s a couple I go to more often than not: Mr. Ritholtz’s blog and yours. I can’t help but note your bearishness vs his ST bullishness.
175 point melt up would have been nice but 267.6 is significant!
at the same time, spreads are getting wider on some options.something else to think about.
Hate to break it you Fly but your 20% allocation is going to dwindle down to 109-110 before we get any pullback. That is my master lvl that is set for the big short
That close was nauseating. I cannot believe it.
What gives? Is it pure greed or do the big boys know something we don’t.
Light volume on options expiration. Some euro headline speculation?
Let me tell you what is going on here people….it is quite simple really.
We go MUCH higher.
You think you are shocked now. How will you feel 100 S&P points and four weeks from now? We may get a teensy pullback after turkey day, per Fly’s thesis.
Capitalist dreamer
Defarge
1450 bitches.
pimp thinkin large! me likey
I added to my short position at the close. I do not doubt the Fly.
I added to mine, too. For the love of god.
You both may be fucked!
You may get fucked with your longs.
One thing is for sure!
One of us will be Fucked!
Indeed.
most of the times, it seems all of us get fucked, I think it might move s little higher before a pullback or a serious pullback …
watching SPXU for entry …
I like DEO, Fly, just reported ac ouple of days ago and has made a nice run after falling to the low 70s. If Europe implodes, this will drop with it and I think it’s a buy on any pullback. I didn’t see it on your list inside the PPT though.
flyaway18: bot DEO 9/12 @ $75.45
How kewl, Mahk Bert 🙂
Congrats!
If Fly is right we could well see it back there again!
flyaway18 The Honorable Fly is always right, and I am sure he will tell you that as well!
I am long some TLT and holding cash. Weekend reading:
http://www.telegraph.co.uk/finance/financialcrisis/8841870/Cash-strapped-Greece-turns-to-God-for-help.html
You sucked **** when others are enjoying the fruits of this rally.
Aw, don’t be a hater, Sucker. It’s Friday, time to kick back and relax!
Peace and love!
My tucking zeeco acct had $1741 in it until my cousin vinny hacked my account last week
Fuck a duck!
….there I was roaring down the Autobahn in my old fully restored 72 Citroen/Maserati,dollars carelessly blowing out the windows. At my high velocity the needle got buried in the dash as I headed to Oktoberfest in Berlin where I intended to buddy up with all the movers and shakers of Europe backslapp’n and BS’ing to high hell on our way to drunken stupor……but then up ahead across the Autobahn was a road block!!! The brakes screamed on my old Citroen as I came to a halt in front of a group of odd men sporting spiked and plumed helmets…who are you I asked.. they bellowed ….we are the Visigoths of Wall Street plundering and pillaging the last fortune of the dieing Christian Empire…and with that these hulking hubristic thugs dragged me out of my Citroen, ripped the shirt off my back and unbelievably, bloodily started to extract the gold fillings from my mouth……stay tuned next week for the exciting conclusion!!!!!!!!
They said that was Qaddafi in the video…
“and there shall be a gnashing of teeth and a great clinching of the sphincter when the strap on schlanger of the merkel visits upon your door” Book of Che… posted here several times over the past weeks.
flyaway… “when europe implodes” ?? Get some KY Jelly NOW or forever hold your colon
Che, I said if not when so careful with attributions being inaccurate. Now, you can wipe your eyes of that KY jelly after you pull your head out of your azz.
Peace
War over in Irag, War over in Libya over, oil floods the earth, gas prices under 3 bucks, incomes turn up, QE3 in the wings, Europe solved(yeah i know, not really, but not really the point, solved enuf for now..
builders bottomed, mortgage rates all time lows, stocks incredibly cheap, earning season with no catastrophe’s, seasonal bias, banks loosen up mortgage money, house sales start crescendo, the world awash in money from the central banks, etc. etc. oh yeah,,, I’m going short? No, I am not smoking anything, I am drinking the coldest gin humanely possible with 3 large olives that are grown for me by a Spanish farmer with only one tree that he sleeps under and only sells to me.
gas under 3 bucks? you must live in fly-over country…
Go long Obama.
Yeah unbelievable lonewolf except your shit citroen maseroti what erver is about to swerve and go out of control as the GIANT MERKEL STRAP ON rams your shit mobile up your rear and you will plunge into the fuckin leberstrom shissen hozen. Auf Weiderzein! You didn’t even get to kiss Heidi!
FLY charge to the sound of the cannons!! My liege lord.. you are failing miserably… wake up.. mount the beast… this is not your soul.. FIZZ fizz my azzz wake FLY mount the stead… charge with the bulls and stop the bullshit.. wake my lord!!!! Short the dollar… long commods.. long materials hi ho SILVER
AND IF I MUST I will seek you out in your silo… and slap you with the moist sanitary napkin of a kardashian and end your trance which obviously has been cast upon you
Costco chicken awaits..buon appetito losers
sir, you are eating chicken from Costco and not Chez L’ami and you’re calling someone else a loser?
The flys of the world (the non OWS crowd) with kids and suburbs, and malls, and outdoor lighting need to feel like prosperous good daddies and husbands heading into the holidays so they can spend all their new money on holiday shit and entertaining to keep the US economy up. So we are headed higher.The annual holiday “wealth” effect ya know….
“Vincent”
Starry, starry night …
Paint your palette blue and gray
Look out on a summer’s day
With eyes that know the darkness in my soul
Shadows on the hills
Sketch the trees and the daffodils
Catch the breeze and the winter chills
In colors on the snowy linen land …
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Now I understand …
What you tried to say to me
And how you suffered for your sanity
And how you tried to set them free
They would not listen
They did not know how
Perhaps they’ll listen now …
.
Starry, starry night …
Flaming flowers that brightly blaze
Swirling clouds in violet haze
Reflect in Vincent’s eyes of china blue
Colors changing hue
Morning fields of amber grain
Weathered faces lined in pain
Are soothed beneath the artist’s loving hand …
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Now I understand …
What you tried to say to me
And how you suffered for your sanity
And how you tried to set them free
They would not listen
They did not know how
Perhaps they’ll listen now …
.
For they could not love you …
But still your love was true
And when no hope was left inside
On that starry, starry night
You took your life as lovers often do
But I could have told you, Vincent
This world was never meant for one
As beautiful as you …
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Starry, starry night …
Portraits hung in empty halls
Frameless heads on nameless walls
With eyes that watch the world and can’t forget
Like the strangers that you’ve met
The ragged men in ragged clothes
The silver thorn of bloody rose
Lie crushed and broken on the virgin snow …
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Now I think I know
What you tried to say to me …
And how you suffered for your sanity
And how you tried to set them free
They would not listen
They’re not listening still
Perhaps they never will !!!
~ Don McClean ~
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I have American Pie bookmarked for when I need a lift.
lol my boss this summer worked with Larry Kudlow back in the day..said he had an unprecedented coke problem hahaha
My boss this summer said………………….. Right. And my ex-wife’s latest ex-lesbian companion told her new pedophile dating partner that a senior member of this blog’s management is Gary Kaminsky. Hey. It’s all over the street(of broken dreams).
Larry the Fairy has snorted more than the herd of pigs at Hormel Sausage Farms.
Clown cannons LOLOLOLOL
Tin foil hat time in here too. Geez.