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.
I’ve been over-trading and my brain is fried. I didn’t take a vacation all summer long, thanks to buying a new home. The kids are getting prepped for school and renovations at Le Casa del Fly haven’t even begun yet. The last thing I want to do is worry about stocks, so I won’t.
I see the market has reversed and looks to be heading lower. Big deal. I’ve made my bed and now it’s time for me to lay in it, at least for awhile. Some of my positions are good, some suck. That’s what a portfolio looks like. If you want all of your stocks to look great, at the same time, I wish you good luck in maintaining sanity.
Look you, I give lots of free advice here. I leave it all on the table for you to see, the good and the bad. I am going to shut this computer down, at least for a few hours, and read a book. I can use my intuitive skills to find new break-outs, swing trades for you suckers out there. However, I am bored and tired of talking about equities.
I’ll leave you with one pick: MCK. It is my largest holding and it’s going higher.
The American consumer is stronger than ever, buoyed by new money. Shit, you politicians like to ask populist questions, like “are you better off now than 4 years ago?” The truth might scare you. Absofuckinglutely.
This country is rich as fuck, producing more millionaires now than ever before, in the history of man. That money is being spent, reflected in share price advances in TOL, LEN, AAPL, LULU, ULTA, SBH, KORS etc.
Do I need to continue, really?
You called the market wrong because politics was an issue. Obama is nothing more, or less, than a government spokesman. He has zero power.
But the march higher continues, regardless of who is speaking. When Romney gets in, there will be a whole new theme of stocks to buy. Obama was good for biotech. Romney will be good for big business. The EPA will be reigned in, allowing companies like NAK to mine in the 3rd largest copper mine in the fucking world.
Zuckerberg is trying to step up to the plate and assert himself as a leader, by declaring “no insider” sales on his behalf for at least 1 year. At the same time, they issue an 8-k offering tax relief for FB insiders. What a clusterfuck. I’ve never seen anything like that before. If Zuck wanted to regain Wall Street’s respect, he’d oust Peter Thiel now and replace him with someone who gives a fuck about FB shareholders.
It isn’t good enough to say “everyone made money in FB, but the asshole who bought the IPO.”
European stocks are bouncing. The ECB is going to unveil an unlimited bond buying program. Free money forever. Get used to it. #POMO
If you are interested in reading some calm literature regarding the markets, fuck off and go elsewhere. I’ve been blogging like the wind since 2006 and I hear the same shit every fucking day.
“Hmmm, Fly, why don’t you behave yourself and be a bit more humble? Excuse me, Mr. Fly, can you unban me?”
Fuck off, coffin stuffers.
“The Fly” doesn’t give a shit about your feelings and will never address you on equal terms, because IT ISN’T THE CASE. God damn you. In 100 years from now, providing I am still “blogging like the wind,” I will address your dead skeletons in the same abrupt and coarse manner. Believe me, I hear this from Mrs. Fly all the time. Back in my younger years, I used to listen to her, as well as others, in an effort to “better myself.” But then one day is dawned on me, no one makes better decisions than me. Therefore, if they’re all wrong, by default, I am correct.
I do not apologize for kicking old fuckers into oncoming traffic, outside of steakhouses. Those old geezers had it coming. More so, I will not speak gently to you, the insecure beta male, desperately seeking attention and fortune.
I have my own money and do not require advice from anyone, especially you. Since inception, I’ve banned thousands of readers from iBankCoin, offering over 800 “full bans“, gratuitously, to people so they can never access the site again. I’ve even revoked PPT memberships and stopped distributing site content through certain financial websites, at a costly detriment to overall traffic, all because of my principles.
This isn’t about money, you devil dogs. This is about getting it right and making others pay, ever so dearly, for their mistakes. #TIMESTAMP
This morning I was getting the stuffing kicked out of me in NFLX and PPC. But as the stock Gods would have it, my fortune reversed and went higher, eradicating my losses–turning my day into profit.
My Romney/ Fuck the EPA play, NAK, soared, based upon the caprices of perverted speculators. Secondly, my holdings in PLCM, LOGM,VHC, MCK, ESRX and CVO went deep into green territory, allowing me to gain nearly 0.5%. This is truly amazing, all things considered.
Because of the tone of the market, I went all in, selling out of HDGE for a small profit and reallocating assets into stocks, taking cash levels down to 10%. Granted, this might end up being a foolhardy move, especially since the market has re-reversed lower into the close of trade. But I’ve been sitting in the sidelines for the better half of one month now and I am sick and fucking tired of taking the easy route. I want this shit to be hard, NFLXing and MRVLing my way towards victory.
In short, “The Fly won again, even though you thought for sure he was going to perish amidst a car filled with lit dynamite sticks.
I sold my hedge (HDGE) right near the intra-day high and went long CVO, LOGM, PLCM, VHC and ESRX in great size and alacrity.
Do you know the true definition of Darwinism?
Contrary to popular belief, it is not survival of the fittest through brute strength or intelligence. Darwinism embodies change and how one is able or unable to adapt to it. In this case, I read the tea leaves and acted swiftly. What was a boring money losing session has transformed into grandiose winship, you fucking faggots.
I am bowling on you pussies, whilst cracking homeless men in the heads with half-full (optimistic!) bottles of malt liquor (40 oz, No Billy Dee).
I took my cash position from 40% (after HDGE sales) down to 10%.
Stocks are trading lower, in dramatic fashion. Did you expect anything less, post labour day, post Federal Reserve did nothing again day?
Despite what the retarded bow tie says, I don’t believe the Fed is secretly printing money. They’ve never been known for being misers with newly printed money. I see no reason why they’d lie about it now. The fact of the matter is, stocks are due for a strong drubbing. I refuse to talk about Europe and how “their issues haven’t been resolved.” Frankly, the people who consistently insist on burying their heads into the news are mentally deranged–dangerous to society at a whole.
If your money manager is from that ilk, fire him now, for he will never make you any serious money. Unlike me of course, idea baron extraordinaire, possessor of book crushing trades in NFLX and MRVL, all managed to be done inside of a singular month. I’d like to see you dicksuckers try that on your own!
Even with these minour set-backs, I still outstrip you to a very large and unattainable degree. For the most part, all of you are stupid. I am talking directly to you, Sir, especially those of you who are reading this while picking your noses–creatures of the dark, replete with gargantuan ignorance.
As for my management of money, I’d like to remind all of you of my 35% cash position and large HDGE hedge, putting me in a keen position to buy all of your margin calls, AND MORE. It is not customary for me to lose in bastard stocks like MRVL and NFLX– but these things happen. I have numerous, mind you, irons in the fire and all the time in the world to allocate resources.
I have no boss because I am the boss.
I added to my PPC position, into weakness, because I am committed to the name. The chicken trade is not dead, only side-tracked by the Armageddon like conditions of corn crops throughout America. However, America is a great fat nation, gluttonous for food and fortune. Give it a little time and they will start BBQing again, sending shares of PPC, inexorably, higher.
NOTE: My NAK position is spring-boarding higher. It is the quintessential “fuck the EPA” trade and should surge higher as Romney betters himself in the polls.
I am officially “disenchanted” with stocks, especially after today’s bloodbath, courtesy of the good folks over at NFLX. I cannot believe I am in this stock large, into the teeth of a fucking calamity. I can only blame myself, as I had no good reason to be long other than to be a contrarian.
Sometimes the herd is right. In this case, I am a regular jackass.
PPC is also getting hit, following numbers out of SFD. However, the numbers were solid and investors are just being bitches about the whole thing. I am not concerned.
What’s important to note, as the indices slide to new intra-day lows, is strength in healthcare, alcohol and tobacco stocks. One cannot deny the possibility of grave and heinous danger when old man stocks start to catch a bid. Having said that, aside from my 35% cash position, MCK is my largest equity holding.
I like the look of silver and gold, especially NAK. Barring some news event that can fuck the stock, I like NAK the best as a barometer on Romney. Should Romney get elected, perhaps he will reign in the fucktards over at the EPA. If that happens, NAK may be permitted to mine in what is estimated to be one of the largest copper/gold mines in the world. On that news, NAK goes to $20.
It is a lotto ticket, nothing more or less.
My HDGE is trending higher again. I am not long the name to make a great deal of money, however. It’s more of a place to safely park cash, than an advantageous bet on declining stocks. Should I make 5-10% holding it, so be it.
In short, stocks look like shit. I feel like selling everything because I am an emotional roller coaster. During times like this, I force moderation by preoccupying myself with things to do. I might go read a book or create some new PPT screens. Or, I might just say “fuck it” and start selling some of my losers.
The big talk out of Jackson Hole is Woodford’s paper regarding Fed policy. Apparently, there is a movement to discard of the Fed tracking 2% inflation in exchange for tracking nominal GDP. In other words, POMO Gorillas highs on cocaine forever.
Forget inflation; focus on growth, by any means necessary.
My opinion is meaningless on the matter and I know far less about economics than a gentleman scholar like Woodford. Instead of debating whether this is a good idea or not, I’d rather focus on the potential outcomes for such a radical policy change at the Fed. It would usher in a new era of free money, buoy stocks to new highs, establishing a nouveau rich like you’ve never imagined– all the while tossing the poor and middle class families directly in front of the fenders of rapidly rising commodity and food prices.
Under a Federal Reserve policy that targets growth, one could not be foolish enough to risk shorting stocks anymore. That would be viewed as “old hat”, a relic of yesterday, left behind like the 8-track or kerosene lantern.
In other news, JPM just cut its target on FB from $45 to $30. How timely of them? I wonder if that analyst even cares that he sucks dick and no one respects his opinion? Does that even matter to him ?
Before passing judgement on today’s tape, I need to see how prices respond to Europe’s sell off. I’m not overly concerned over a potential sell off. Nevertheless, the winter is coming and stocks can’t go up forever. We’re overdue a good miniature panic, in order to properly introduce investors to the seasonal change from summer to fall, as is customary for this business for more than 100 years.
