A Special Emergency Message from your Governmentby The Fly on April 23rd, 2008 at 12:48 pm |
Hey assholes. Quit worrying about Ambac and MBIA and go buy some bank stocks. We got it covered. All buyers of bank stocks will receive free shrimp and cheddar cheese. And, you may be able to win a flat screen tv.
Remember, we can kill you through bad food, medicine or pollution.
Government UPDATE: I remind you, both Ambac and MBIA are AAA rated.
Fuck the market. I’ve recently downloaded the following into my iPod:
Aphex Twin, “I care because you do” : Saving this one for the day I try cocaine
New REM: yawn. The soundtrack to every gen-x movie.
Led Zeppelin BBC1 and 2: Phenominal. Anyone born after 1965 missed out on a lot of good $hit.
Jimmi Hendrix BBC1 and 2: See above
Public Enemy, “Apocalypse 91″: I was 12 when this came out. Good stuff. I just kicked REM to the curb and started playing it, and my dick grew 2 inches soft.
American Ganster soundtrack: for when I open the barber shop
MadLib: Beat Konducta, Vols. 3-4: WOW. Hip-hop with old Bollywood samplpes mixed in, amongst other things. I love this one.
Clockwork Orange, soundtrack: The revolution will not be televised.
Portishead, “Third”: Someone shoot this bitch in the vocal cords. Whine whine whine. The DJ has been the best part of Portishead since forever.
Mims, “This is why I’m hot” single: I’m hot cause I’m FLY, you ain’t cause you NOT. (feel free to use)
Jay-Z, “Greatist Hits” and “American Gangster”: eeeeeh. JZ is great, but at the same time, not so great.
Gorillaz: “D-sides”: Excellent.
The Doors: “The future starts now”. Ok, I think the doors are bullshit. The guy died at like 19, and he sang about all sorts of life experiences. Studio rappers, basically.
April 23rd, 2008 at 12:50 pmI was para sailing up in the mountains this morning and taped this footage of The Fly:
April 23rd, 2008 at 12:50 pmBoomer:
Why the name change?
April 23rd, 2008 at 12:55 pmI want my Government cheese, and I want it now!
April 23rd, 2008 at 1:00 pmThe Nasdaq is being propped up by a friggin’ toothpick.
70% of Nasdaq stocks are declining.
April 23rd, 2008 at 1:06 pmVMW closing the gap, what the cock is that shit? Keep an eye on TSO may break down through $27
April 23rd, 2008 at 1:08 pmhttp://www.reuters.com/article/newsOne/idUSL2290323220080422
April 23rd, 2008 at 1:12 pmFXP is overbought (sic) according to Dennis Kneale, odd no? I am buying some here.
April 23rd, 2008 at 1:14 pmi think that toothpick is msft. ballmer is probably the cause of the “shortage” of food too.
April 23rd, 2008 at 1:15 pmDoes anyone else have excelphobia? I am very frightened when using excel, god I hate that program.
April 23rd, 2008 at 1:18 pmBanD:
You plan on partying with the Lady while listening to Apex Twin? A little downbeat, don’t you think?
Any one else think that AAPL is going to have a bit of trouble going forward selling $2K laptops and $400 phones in this environment?
April 23rd, 2008 at 1:23 pmWithout Excel, my life would be impossible
April 23rd, 2008 at 1:24 pmDennis Kneale when to the Congo and had his penis stolen. True Story .
April 23rd, 2008 at 1:28 pmDUG looks like it wants to breakout on an hourly chart! How can that be will oil going to $150 in a straight line?
April 23rd, 2008 at 1:29 pmAAA = AIDS 3x over
April 23rd, 2008 at 1:29 pmWSL,
Maybe not. There’s got to be some drug that goes well with that music. I felt a little violated after listening to it.
AAPL will sell $2K laptops and $400 phones to rice farmers and their extensive families.
April 23rd, 2008 at 1:32 pmWallStreetLurker: I agree re: Excel.
With ABK and MBIA there is a charade going on here. These are not AAA machines, they are polished turds. If there is one thing Cramer got right its that these agencies are criminal in their ratings.
Woodshedder does FXP look due for a bounce technically on RSI2
April 23rd, 2008 at 1:37 pmJakey, watching the rollover on ANF?
April 23rd, 2008 at 1:40 pmNew AAPL pricing program:
iPhones for two bags o’ rice anna sacka patatas.
April 23rd, 2008 at 1:43 pmCalvin –
Like a golden eagle watching a Romanian goat on a cliff.
Looking for some “acceleration” here.
April 23rd, 2008 at 1:44 pmNibbled on a little FXP with OPM
April 23rd, 2008 at 1:52 pmBanD and Jakey:
Good point. Rice farmers can use AAPL products to call in their gorilla freedom fighters to shoot food rioters on site if they try to steal their stash of pure, high grade, uncut rice.
April 23rd, 2008 at 1:52 pmAlso, those same farmers can use their AAPL products to keep track of which govt officials they have paid to look the other way when they try to smuggle out their lumpen marching grain. Damn those pesky export bans.
April 23rd, 2008 at 1:57 pmBREAKING NEWS: Power lunch calls a bottom (15th time now) and Dennis Kneale says we will skirt this recession entirely. Consumer is in great shape paying $100 to fill up their car each week. Oddly enough I know people who pay $300 a month for their rent however they pay $400 per month in gas for their car. Very odd.
April 23rd, 2008 at 2:01 pmHey Fly,
Were those shrimp caught with KIDS KIDNAPPED FOR CHILD SLAVE LABOR??????????????????
Always buy child labor free products.
April 23rd, 2008 at 2:01 pmWSL:
If someone with multimedia skills (Danny) video-edits the scene from American Gangster where he goes over to Thailand to meet directly with the Heroin guy, only makes it about Rice, it would make IBC history.
April 23rd, 2008 at 2:06 pmFunny, we don’t have a Dennis Kneale on the payroll.
Who keeps letting that shithead in here?
April 23rd, 2008 at 2:09 pmDSL now at prices last seen….
… in AUGUST OF 1996!
Woohoo! Wotta bargain!
April 23rd, 2008 at 2:10 pmBought FXP @ $65.2
April 23rd, 2008 at 2:10 pmFuck stocks, I’m buying guns and ammunition and taking to the high seas. I bet hedge fund managers are a hell of alot tamer when I have the fucking firepower.
Fuck AAPL, overpriced fucking hardware for easily persuaded idiots. It’s a hedge fund playground stock, big time.
Fuck rice, Condasleeza and ‘A-RONI, the global inventory is unaudited and HIGHLY questionable.
Oh and Fly, all due respect to a fellow Mets fan, don’t fight the tape… Be rich, not right.
April 23rd, 2008 at 2:13 pmI guess that sell to close order on my once-highly-profitable LNN calls won’t fill today. Sweet Jesus.
April 23rd, 2008 at 2:15 pmGapping, FXP is ripe for a bounce. RSI(2) in real time is at 2.
Keep in mind though that it may stay oversold for 1-3 days before rebounding. Testing done over the past year shows an average drawdown of around 4% on each position.
I may nibble some myself, into the close.
April 23rd, 2008 at 2:29 pmthats why you sell options to open, buy them to close or let them expire worthless
April 23rd, 2008 at 2:32 pmOK, is it just me, or am I the only one who gets really irate at people saying PO-tash instead of pot-ash …
I mean where did these people learn English ?
April 23rd, 2008 at 2:39 pmHank Paulson needs to be named head of the Dept of Agriculture so that he can start making death threats in defence of ag stuff. It all seems to have stopping being uppity. I can’t imagine a world with POT under 200.
April 23rd, 2008 at 2:44 pmI work in right outside of Oakland, and some poor lady was arguing about the price of her Jack in the Box while talking on an iPhone.
April 23rd, 2008 at 2:44 pmwhy does everyone love FXP so much? the FXI chart looks great to me.
April 23rd, 2008 at 2:44 pmSell premium on a stock that moves 10 points in a day? No thanks. That’s like selling insurance to drunk drivers. A position can move against you no matter how you trade it.
April 23rd, 2008 at 2:45 pmHC, its not about love. Its about markets moving from overbought to oversold, over and over again. Right now, FXP looks tasty here because it is very oversold. This is a trade you might spend 3-7 days in.
April 23rd, 2008 at 2:47 pmGreg, I have come to the conclusion that some dumbass on-air editor (Charlie “Greasy Forehead” Gasparino perhaps) has made a numbnut decision to avoid even passing drug referances on their program.
It sounds laughable but I worked in that industry, it’s the kind of idiocy that permeates the ranks of management.
Fucking Sheeple.
April 23rd, 2008 at 2:47 pmno name change. is someone using my email addy now?
i don’t “download” like the unwashed music buyers of the world. my iPod “managed” by a team of uber hipsters who feed me fresh sounds daily. all genres, only the best. none of this searching and paying and downloading.
by the way, listen to me intently, iTunes will soon be under such a competitive tidal wave…you cannot comprehend it. mark this down: two majors are merging. they are pulling all content from all channels and selling direct at low prices and drm free. without the intermediary.
you will see me in lights, but you will not know it is me, BOOMER. You will only think: that guy is cool. I wish I had that job. Then you will know. It is me, BOOMER.
No internets imposter can touch that.
April 23rd, 2008 at 2:51 pmSMN is going to pop $32 I think!
April 23rd, 2008 at 2:56 pmBought FXP at 64.25. Playing the bounce.
I still think your ass will get wok fried and melted if you bet against China long term.
April 23rd, 2008 at 2:57 pmi dunno who taught you to trade but fxp looks like shit and stocks can spend months in “overbought” conditions
April 23rd, 2008 at 3:00 pmCubs,
April 23rd, 2008 at 3:00 pmSMN needs to get to $33 for any kind of meaningful reversal in the trend.
FXP broke my balls last time it went through support (April 1st).
April 23rd, 2008 at 3:02 pmKurt
April 23rd, 2008 at 3:03 pmFXP does look like shit, but it’s oversold today. Trend is down. This trade is for S&G’s using weak, worthless dollars.
Yeah I don’t think $33 will happen. I have my sell order in at $32.45. Hopefully tomorrow morning
April 23rd, 2008 at 3:03 pmSuggested next “Winning” prize item for random iBC contest.
April 23rd, 2008 at 3:05 pmwtf when did it become ok to trade technicals on an inverse etf no wonder you people lose money.
April 23rd, 2008 at 3:05 pmalphadawgg: shits and giggles okay
April 23rd, 2008 at 3:06 pmDeath has come for LNN.
April 23rd, 2008 at 3:09 pmDoes FXP have any liquidation covenants… like that DCR pos?
April 23rd, 2008 at 3:10 pmEveryone is off to the races. Fucking idiots.
April 23rd, 2008 at 3:13 pmadded to FXP, cost basis now 67′50.
April 23rd, 2008 at 3:14 pmKurt, I tested a system using only inverse etfs, buying only when RSI(2) is lower than 10 and selling when RSI(2) rises above 80.
It returned 25% up to yesterday with about a 77% win rate.
April 23rd, 2008 at 3:24 pmWow, look at FXP go!
April 23rd, 2008 at 3:27 pmShed,
April 23rd, 2008 at 3:36 pmHow does DUG look in that System? Doesn’t it rank in the over done and do for a bounce? If it can stay above 30.10 I think it’s got a chance for a couple of bucks.
The Chinese market is down 50% from its high six months ago. I posted twice a few weeks ago that the Chinese government was under political pressure to support their equity market. They finally took modest steps yesterday to do so. The impact is more psychological than financial, but it seems to have been viewed postively.
Why is it a good idea to be short them?
I don’t understand. Help.
April 23rd, 2008 at 3:41 pmFXP? Geez, guys, 8 billion Chinese all saying “nice dip” while their government is telling them “here’s the bottom, right here”. You figure it needs to make sense?
April 23rd, 2008 at 3:41 pmkurt is right … ANAD is a rocket on fire and we are all reminiscing about the glory days when FXP was THE trade of the week.
We all need to get over it, and acknowledge … Chinese mom and pop traders are gonna bust these stocks to 52 week highs again ..
April 23rd, 2008 at 3:41 pmGranpa, I didn’t test DUG.
Pull up a chart and set the RSI to a 2 period. Then look at the reading. If it is 5 or below, it due for a bounce. It is a good system, but not perfect, as sometimes there are situations that can keep issues overbought/oversold for days at a time. Oil, for one, has stayed overbought for days.
April 23rd, 2008 at 3:42 pmADP and Gregory- Buying oversold index etfs is a money trade. Don’t like it, then don’t trade that way. Just because you’re in love with China doesn’t mean FXI won’t pull back for a day or three.
April 23rd, 2008 at 3:44 pmman, FXP looks broken to me, it’s US components broke their downtrends and are heading up… I think the ETF will be dead for a while, at least until after the Olympics…
April 23rd, 2008 at 3:44 pmTO ALL TRADERS COMMENTING ON FXP:
For me, should I take the trade, it is trade lasting 2-7 days.
I’m not betting on its component stocks to resume their downtrends!!! I’m betting that there will be a pullback as the FXI is overbought!
Its really very simple. A mean-reverting strategy if you will.
April 23rd, 2008 at 3:50 pmShed,
April 23rd, 2008 at 3:59 pmDoes it work equally well in all time frames?
Granpa, I can tell you that it will not work well in a market that is in a long and severe up or down trend. Very well works in a sideways market, or a market that is trending, but is within a range.
I will be testing it over much longer time frames and adding some optimization over the next few weeks.
April 23rd, 2008 at 5:40 pm