What’s with morons who find the need to call a bottom in stocks and a top in oil everyday? You’d think after getting punched in the nose, with brass knuckles, these fuckers would stop speculating. Nonetheless, the asshats at [[MS]] are ‘calling a bottom’ in [[LEH]].
Good luck, bucko.
Call me a cynic, but something tells me the palsy’s at MS are somewhat concerned about their counter-party exposure to LEH.
The industrials are cracking here, as predicted. Shares of [[TEX]], [[ETN]], [[ITT]], [[JEC]], [[CAT]], [[CMI]], [[TXI]], [[CW]] and [[VMC]] are doing the ‘toilet bowl shuffle.’ I suggest leaning on them, especially CAT.
Oil is ripping higher today. I like [[PCZ]], under $60.
There is a possibility the market will try to bounce here, considering today is the first day of q3. However, just know, all rallies are to be sold into, not bought. You have to program yourself to do the opposite of what your optimistic instincts tell you. Being positive in a bear market will get you nowhere, and fast.
When “The Fly” was born into this industry (’97), fire and brimstone (Asian crisis) was tossed onto his lap, as he was told: “go make a living kid.” Then, after being lucky enough to ‘catch a bottom,’ he was taught another ancient lesson in warfare, via the ’98 collapse. Following that, “The Fly” coasted for two years, making scores of freshly minted coin, during the dot com era of ’98-2000— only to have it promptly snatched away during the historic and biblical collapse of 2000.
As you know, the rest is history.
I’m a fucking pro at bear markets. During my career, I’ve been dealing with them perpetually, while supporting a family and an egregious lifestyle. I cannot be gulled into bullshit.
Don’t get hoodwinked into believing the ‘goldilocks story’ or the resiliency of the U.S. economy. It’s all bullshit. The market will bottom, when enough people have lost money and there is nothing else to sell.
In my opinion, there are plenty of industrials and ag related names worth shooting at.
For now, I will hold off on placing new bets against the banks. They’re due to bounce. Instead, I may raise cash, via taking some profits and wait to reload over the next week—or not.
I’m unpredictable and busy eating potato chips, at the present.
right on, right on!
SMN actually starting to look interesting.
-DT
http://abcnews.go.com/Politics/US/story?id=5281043&page=1
You guys probably think I hype this fucking news. I don’t, I just read it and buy oil accordingly.
short AG? OA seems to think otherwise
For the record, I will NOT be shorting ag. I have learned my lesson.
Fly, thanks for SRS, REW, and SKF. I usually don’t buy shit that isn’t directly energy related but the charts just said “buy me.”
Crude:
No problem.
However, fuck your charts.
Senor Fly,
Go after steel stocks…major breakdowns; X down 7%, AKS down 6%, most breaking EMA’s…
I’m setting my sight on shorting DRYS, AKS; will start a large position in Gold and start reducing exposures on nat. gas;
Like shooting fish in a barrel. No wait, like a hand grenade in a barrel. A fucking oil barrel, full of fish. Suckers.
Oh Fly,
Forgot to mention one thing…Go fuck yourself
I just put up my lean-to and got more margin. I’m going all in on IMB. It’s a 200-bagger at least.
But they consist of pretty colors and squiggly lines. What the fuck?
Big Mike, were you the one calling a top in crude at $100?
I know Hoots was, however, you’ve escaped my memory.
Crude,
I’ve called tops at Ags (SMN @ 44 to 29), oil @128, only to get my legs blown off. Like someone, I have learned my lesson;
I’m just being humorous on the previous entry, no disrespect in all sincerity to the Fly.
Oh I know, no one is ever serious here, including me. Unless I say “stay away from DCR” or, “crude looks like a buy in here.” Eventually I have to let you guys know when I think it will finally come off, it will. Just not yet. If I don’t say when I think it will, I will be the idiot holding the bag thikning crude goes to infinity.
I’m still short USO and bot more SPY, DIA and QQQQ this morning. What’s the line on me being a eunuch come Independance Day?
Vince Farrel is calling for another Faux “Bottom” on CNBC.
These idiots will soon be in for another round of skull fuckery.
If Vince is actually calling this alleged bottom “faux,” then he’d be right.
The crazed rabid inflation badger (“CRIB”) is here, ladies and germs. Get ye some SLW and a gold trinket (or two) of your choosing.
What a shotgun to the bawls that CRM can be, no?
Still, I think it’s like the monster at the end of a particularly quickly typed out Stephen King novel… some lethality left in it, but mostly wounded, limping, and ready to drop.
Oh, and the Cubes are jerked venison here as well.
__
Salt and vinegar chips? Sheesh, what a bearish outlook (but egregiously valid).
SMN is finally breaking out of its base. 30.87 first resistance. KRE (Regional bank index) is a nice dripping short, drip, drip, drip, deeper down, closer to oblivion, each and every day. Yeah.
10 ways not to play a bear market:
1. It can’t go any lower, I swear.
Repeat step one ten times and call your goat herder in the morning.
dfoPTY