Welcome to the New Trading Range

Forget about life above 12,000 DOW. Now, we are in the sub 12,000 world, and boy is it dire. Just last week, when we were above 12,000, my local music blasting Starbucks was packed with a half dozen homo’s, diligently waiting for their fucking latte’s, no offense to gay guy’s of course.

Just today, I went to that same Starbucks and no one was there. To make matters worse, they had 1010 news on. No music!

Times are grim and dire. What shall I do next?

Ooh I know. How about I count all the money I just made shorting retarded bank executives?

Nah, I already did that.

Instead, I think it is time to throw a few dozen eggs out my office window, down at my local Citibank. You know, add insult to injury & shit.

Those fuckers have had it coming to them, for a long time now. All they do is walk around in their bullshit [[MW]] suits, while losing the world billions of dollars—per hour.

Aside from that, I love [[SMN]] here. Look for [[MON]] to “knuckle-under” $100 soon. If you have an itchy trigger finger, sell some SMN around $47 ish.

Also, with oil trading above $107, I’m not surprised to see [[DUG]] higher. The market is breaking lower. Therefore, all equities are, right now, a “source of funds.”

Boy, do I feel like a fucking red nosed clown, for covering my [[BSC]] short on Friday. That fucker is headed for severe beat-down territory and I’m not short. Unfuckingbelievable.

As I cover my shorts, and they trade lower, I will be very upset. Naturally, I realize it’s impossible to catch a bottom or a top; I still want to do it—like everyone else.

Today, the ag stocks are being raped, as [[MON]] gets uprooted and beaten senseless. By the way, I’m short MON from $110.

As of now, I still have meaningful short positions, and a fuckload of cash. Instead of doing a bunch of clown trades, like some of you fucktards, “The Fly” will remain calm and patient, while waiting for the next trade to come to him.

Bottom line: aside from a few pockets of strength, the market will go lower, thanks to the rotten behavior of the banks and brokerages.

Remember, nothing scares a market more than insolvency.

Why is Ragin’ Cagin’ so fucking bullish?

What has gotten into his alligator soup?

UPDATE: As you can see, “The Fly” took away your market data box. Frankly, I did it for no good reason. I just woke up one day and said “fuck these internet people. I will take their market data away, then curse at them.” You do not deserve “futures” or Asian market stats. Fuck you, go turn on the “gogglebox” to CNBC.

Plus anyway, iBC is about to turn the lights off on you bulls, which includes the seizure of information. And, to make matters worse, I understand that many of you have not been adhering to iBC’s strict dress code. Until you fuckers start showing up in suits and ties, the market data box will be in my attic.

Stay tuned.

UPDATE II: Woodshedder’s recently discarded dog found. “The Bitch of 72ndStreet.”

[youtube:http://www.youtube.com/watch?v=VF24eQFe3hc&feature=related 450 300]

This is DT‘s favorite song.

On multiple fronts.

Off to drink, profusely.

I got a late day rumor for you. Stay tuned.

Charlie Gasparino, Rumor Department, CNBC

I covered my entire [[BSC]] short, buying 5,000 @ $69.

Cramer is out of his fucking mind. Can this man please take his meds?

I sold short 3,000 shares of [[FED]] @ $28.50.

Disclaimer: If you sell short FED because of this post, the value of your dollar savings will go to zero. And, you may lose money.

Fuck it. Privately, I’ve concluded that [[WM]] would go to zero, a long time ago. I’m gonna go out on a limb and say WM will be insolvent by year end, unless they get “bailed out” or bought out.

Their credit rating is now BBB, one notch above junk. More than 50% of their loan portfolio is in California. You cannot be in a worse position that “Wamu,” unless you are [[ABK]] or [[MBI]].

With the stock down more than 50% in a month, despite Cramer suggesting the shares could go “straight up,” thanks to Fed rate cuts, it is my belief that the wagons are being circled and there is some significant piece of negative news, yet to be announced.

Stay tuned.