iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,440 Blog Posts

The Godfather of all Short Squeezes Approaches

The Turkey Gods have spoken to me and they demand delivery of bear sauce by the close of trading on Friday.

I tell you this with a heavy heart for my bear friends will soon perish under the weight of clawhammers.

The Italian crisis that was destined to destroy humanity (lol) has been averted through magic. The magicians have decided it’s better to create an illusion of safety and security instead of dying at the bottom of a collapsed mountain.

As for me, I’ll be heavily profiteering through my enormous silver and gold positions, now constituting more than 40% of total assets. I have just 10% cash left and find myself at the beaks of the Gods. I don’t have faith in much, as I’ve concluded long ago fairy tales are better suited for bedtime or men who root for paid athletes. However, I do not fuck with the Saucerors of Stuffing, especially when the world has everything to lose and nothing to gain from inaction.

My YTD gains stand at 15% and I intend to press them into the face of Santa’s big stupid sleigh.

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73 comments

  1. No One

    Time for FAS2Mouth action?

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  2. drummerboy

    lot of gravy, lots of gravy

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  3. pedro

    Wasn’t October known as the “Godfather of all squeezes?” Seriously, how much left is there to squeeze?

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    • ALLPROz

      Squeeze will last until the boil pops…

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      • Trading_Nymph

        Pedro, So true…us remaining Bears don’t give a fuck anymore. Hit us, we don’t care. Who are the bulls going to sell to? Not us.

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        • MetalLeg

          Suckers, that’s who. While I ride the bull, I always have one eye searching for suckers to buy my shit. We’ll go higher til the shorts vomit up their balls, all while the suckers await confirmation of a bull run.

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    • horsetradin

      That was the “mother” of all short squeezes, this is the Godfather. Please learn to listen more closely. For question 2, please see “how many angels can fit on the head of a pin”…

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    • bunny

      I can only speculate, so consider it 2¢, but October was more of an explosion, and Nov into Dec will be more like a steady bull market imho.

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  4. Chango

    Fly – i’ve gathered that spectator sports aren’t your thing. How does “The Fly” spend his down time? Other than in the garden growing organic carrots, that is.

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    • The Fly

      I read books. Try it sometime

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      • Chango

        Just fInished “Barbarians at the Gate. Cant believe i hadn’t read that one earlier. Man, did Ross Johnson and his “Merry Men” know how to live it up on the company dime.

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        • TeahouseOnTheTracks
          TeahouseOnTheTracks

          sure did … and my cousin’s biz got paid big bucks to not supply them with flavor canisters for their smokeless cig while under contract as their main supplier not to mention the nice addition and retooling at RJR’s expense.

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  5. walktothecabin

    My cocaine needs more gorilla

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  6. Dirk Diggler

    It’s only a matter of time until the EFSF is funded, as Italy and Greece have gotten right down to matters: http://uk.news.yahoo.com/italian-greek-governments-race-limit-damage-233751939.html

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  7. chivo

    Men who root for paid athletes, Lol…so much more fun to root against them!!

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  8. Mr. Partridge

    It’s a bull market, you know.

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  9. Yabollox

    Gold and Silver are gonna be slow money. They were good during times of uncertainty and morass. But now things are changing. The economies of the world are getting government cocaine. Get into the companies that have been hamstrung for the last several years. The economies are going to ramp up. It’s time for things to get moving. You can be all dour and negative if you wish, that’s your affair.

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  10. jose mann

    if the godfather of all short squeezes materialize, then the inverse funds will get so much cheaper, I love it …

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    • pedro

      Bullish. I am seriously at a loss as to what constitutes relevant, market-moving news. I thought that the report that the ECB had to purchase the remainder of bonds in its auction last week would surely have markets opening in the red. Judging by the action a couple of weeks ago, one would think that the EFSF was the only thing between us and collapse, yet now, as it’s being picked apart as a useless, fundedless piece of crap, it’s brushed off. I. Give. Up.

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  11. riggedgame

    Every country has tons of debt and tons of pension obligations. Just print money hand over fist and solve both problems.

    There is no downside because there is no inflation, and excess printed monies will just flow into the debt ratholes and disappear. This is elementary common sense.

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  12. ying

    FLY, besides thanksgiving seasonality, why are you so certain about this rally that you fully invested?

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  13. fxtradex6

    Fuck picking a side and sticking to it because it’s what you “believe in”. I’ve seen many criticize Le Fly for flip flopping, however this is exactly what one needs to do to. Evolve with the market.

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  14. The Plumber's Crack
    The Plumber's Crack

    A Santa Clams rally.

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  15. The Fly

    All bets are off in 2012. I am getting idiot bearish in January.

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  16. Kunte Kinte

    Yeah right, you go ahead and go long. The Dow is just 1600 points from an all time high. Think about that….then think about the differences between now and october 2007 in terms of macro economic, unemployment and pending ‘soft patches’ .
    PETE

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    • Kunte Kinte

      basically, if you ain’t short or in cash you are gonna get owned pretty hard when this goes boom.

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      • Po Pimp

        when this goes boom.

        And that right there is the issue. When does it go boom? Tomorrow, Dow 15,000, Dow 30K…?

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        • Mr. Partridge

          boom is an issue if you do not employ risk management techniques… otherwise boom is always an opportunity

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    • Mad_Scientist

      Yeah, and just think how much higher we are than 1929! That’s a long way down. But why should it happen tomorrow or even this week, Kunte Kinte? Hence, the idea of going long.

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  17. Heaterman

    Tomorrow is going to be up big. Copper up. Japan up, Asia up. We will follow suit unless Europe blows up overnight.

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  18. bunny

    Hey Fly, speculate on when? Monday, Tuesday, Wednesday, or when do you think it will boom up?

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    • moolahheaven

      Tuesday, 10:41 and 12 seconds Eastern Standard Time. Now don’t bother senor Tropicana with such pesky questions!
      (and YES in my opinion that was a JOKE, NOBODY knows when, not even Herr FLY)

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      • bunny

        I guess I know better than most then. Based on Friday’s analysis Tuesday is most likely.

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  19. Largebill

    Gotta love stocks of decent companies that are shorted. Especially those with an ex-Div date approaching!

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  20. KCScott

    Fly is spot on – Rule one is it doesn’t matter what you think… only what the tape prints. Bears failed in Sept and they’ve been chasing it since. Go with the flow young padwans

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  21. TeahouseOnTheTracks
    TeahouseOnTheTracks

    Too soon to speculate about Monday but anytime the Jets and Giants both lose on the same day is a Great Sunday in New England.

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    • Jakegint

      Hogwash. There are more Giant fans in New England than there are Patsy fans.

      Especially now that Bellicheat and Mizz Braisy are running the show.

      Besides, the Giants kicked your ass — 2008-style — last week.

      _________

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      • TeahouseOnTheTracks
        TeahouseOnTheTracks

        Hahaha … still spinning wool for that sweater I see.

        Per a team spokesman “52 percent of the Giants’ season ticket-holders live in New Jersey. Most of the rest live in New York State, although some travel from Connecticut and elsewhere.”

        They can only beat us with the aid of the officials as usual … this will be remedied when the League Office moves to Greenwich … LOL

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        • Jakegint

          Stop your whining. And your grasp of logic fits your Democrat-leanings.

          “Fans” are not wholly constituted by that very tiny subset of “Season Ticket Holders,” or the Giants wouldn’t have world beating tv stats in both the New York AND New England major metros.

          I stand by my statement — more Giant fans in New England than Pattycakes’.

          The refs will likely never give Bellicheat the benefit of the doubt again. Hence the old saw: “Cheaters never win.”

          _________

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          • Jakegint

            Imagine Giant season ticket holder pool being largely constituted of persons in close proximity to their stadium…?? Shocking! What COULD explain it??

            🙂

            _________

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  22. Old Salt

    And as far as the tape prints the close in Australia was in the red for some stocks.
    http://finance.yahoo.com/q?s=RIO.AX
    http://finance.yahoo.com/q?s=BHP.AX
    Will watch how these stocks open on the London exchange with interest.

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  23. TeahouseOnTheTracks
    TeahouseOnTheTracks

    This wave guy has a hot hand and a similar forecast to Tony @ OEW and The Fly … I am not a subscriber and have no interest in pushing his service therefore I post this link FYI only.

    http://www.themarkettrendforecast.com/forecasts/the-final-market-rally-up-before-the-big-leg-down-is-near-an-end/

    Fly, feel free to delete this post/link if I have violated your trust by posting a link advertising for subscribers … If so, I apology for having bad manners while a guest in your home.

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  24. The Fly

    Tea

    It’s ok

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  25. boomrblowup

    dole into earnings?

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  26. Dr Funk

    You can’t say bears failed. This isn’t bulls vs bears anymore. It’s the market vs government

    Come on, governments are supporting. Oct 4, that afternoon spike all of a sudden. Really? Of course it was intervention. Those weren’t “bulls” saying ok time to buy.

    However, the market will always always, win in the end. I believe that’s what happened in 87. The market ultimately has the final say, and will force the direction eventually.

    A couple previous comments being, when. Next week, Dow 15000, Dec 2012. So here I sit holding TNA to balance shorts for now. Don’t get fooled though. Many fools, in 1987, in 1929….

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  27. riggedgame

    1. Joe Kernan looked like he was swallowing turds when Warren Buffet said that federal revenue needed to be raised, the corporate tax rate was NOT too high, and the wealthy COULD afford higher taxes.

    2. Buffet also said that cutting “loopholes” but keeping tax collections revenue-neutral was the wrong way to go. INCREASE revenue!

    3. Melissa Lee tried to marginalize Buffet when she asked “Wasn’t Warren late to the party when he bought IBM this year?”

    HELLO! MELISSA: Warren told you that his average cost on IBM (now 190) was 170. Listen up, girl, and stop trying to attack a messenger who is not a RW Nutcase.

    4, If our CEO’s and corporate boards were all Buffet-like, we would have nowhere near the income disparity, politic infighting, lack of demand and rebellion we have now.

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    • Jakegint

      True Comrade! If Comrade Buffet had his way (and got to keep considerable dachas on side), we would now be living in Workers Paradise!

      (Singing, now:)

      Stand up, damned of the Earth
      Stand up, prisoners of starvation
      Reason thunders in its volcano
      This is the eruption of the end
      Of the past let us make a clean slate
      Enslaved masses, stand up, stand up
      The world is about to change its foundation
      We are nothing, let us be all
      |: This is the final struggle
      Let us group together, and tomorrow
      The Internationale
      Will be the human race :/

      ________

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  28. JTU

    I can’t find any information regarding where crack spreads are headed and why, anyone?

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    • Yogi & Boo Boo

      @JTU – Try some of the Schwager books on commodities. I’ve got “A Complete Guide to the Futures Markets” from a long while back. You might be better off with some of the newer stuff. http://tinyurl.com/clfl5ly

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  29. Yogi & Boo Boo

    Fly, Any concern that Euro yields might derail the Turkey Train? French, Italian, and Spanish 10 year are blowing out right now, as are the spreads against Germany. Italy-Germany Spread is above 4.9%.

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