Fuck Steel and Fuck Coal
I know that pony tailed maniac from Fast Money tells everyone to ‘giddy up’ for coal. However, I will tell you, with great vigor, once Obama gets elected, he is going to take that fucking coal and throw it at your face. That’s right, democrats hate coal. Plus anyway, the whole ‘clean coal’ concept is Hollywood baby. All fiction.
With that in mind, “The Fly” is a big supporter of betting against the pony tailed one, via large short sales in [[BTU]], [[JRCC]], [[ACI]], [[ICO]], [[MEE]], [[CNX]], [[WLT]], [[PCX]], [[NCOC]], [[HW]] and [[YZC]]. This is a sector with a lot of meat on it. When I told you, “money managers will look for a source of funds,” I was referring to the strongest sectors—like coal, oil, natty, ag and steel.
Let me get it out there, I fucking hate steel. There is nothing I find funny or unfunny about it. I loathe it. I want it to be dead.
With that in mind, why not jump on the ’steel funeral bandwagon’?
While the banks take a breather, the ‘global growth’ plays burn. They’re crashing today. Eventually, this will permeate the general indices, forcing the Dow to swan dive. Short [[CAT]] at will, if I may be so bold.
Anyway, here are some steel stocks to bet against:
[[SCHN]], [[NUE]], [[X]]], [[MTL]], [[MT]], [[STLD]], [[AKS]], [[WOR]], [[MEA]], [[SUTR]], [[HAYN]], [[GGB]] and [[PKX]]. If you want, throw in [[RIO]], [[BHP]] and [[PCU]] for good measure.
You momentum faggots thought you could get away with buying shit, after 400% moves, right? I don’t think so. Eventually, Mother Market corrects the overzelous type and puts them to bed.
Enjoy your rest.
Egregious.
July 2nd, 2008 at 1:13 pmI got one word for you son - Metallurgic ….. coal, that is.
and I don’t even know how to spell it.
July 2nd, 2008 at 1:16 pmI just got stopped out on my coal names today. Oh well it was fun while it lasted. Back to shorting financials I guess……
July 2nd, 2008 at 1:22 pmLet all know that Mr Fly is a godly genius! The Godfather kisses his pinky ring.
July 2nd, 2008 at 1:28 pmGCE on toronto is a met coal play….
July 2nd, 2008 at 1:29 pmDid you top tick that shit oh well? Sounds like it because no one else seems to give a shit about MVIS.
July 2nd, 2008 at 1:30 pmWhat about PBR and RIG? Get out? Or long and strong?
July 2nd, 2008 at 1:31 pmQuit bellyaching MVIS fucker.
July 2nd, 2008 at 1:32 pmDGP - got to hand it to you Fly, buy some more here? watcha think? did you tell Cajun to short IOC a couple hours ago?
July 2nd, 2008 at 1:33 pmWould you short those hippy Canadians via POT here?
July 2nd, 2008 at 1:34 pmWhat the fuck happened to FTK?
July 2nd, 2008 at 1:37 pmDB: sounds like we trade alike, watch it go up then watch it go down! hope you did you take some coin.
July 2nd, 2008 at 1:39 pmtrue or not?
http://www.youtube.com/watch?v=eBqwtRubyJM
don’t click if seeing Don Harrold rage will make you puke.
July 2nd, 2008 at 1:44 pmIf you don’t use stops for shorts or longs right now.
July 2nd, 2008 at 1:46 pmYou are a stupid fucker. Puts and calls are best. I bought 4000 tips and will play golf etc. until this whipshaw stops. Maybe at 11000 ? Only traders like the Fly can trade this bull shit. He is very quick and well read!!!
Still long the indexes and holding my USO shorts. Gonna be a stupid fucker and hold over the holiday weekend.
July 2nd, 2008 at 1:54 pmFly,
July 2nd, 2008 at 1:59 pmIsn’t your Lexus is made of steel? Last I checked, so were flux capacitors. Odd, no?
Fly, a question re: V.
I’m not sure how to word this…
Are you aware of any lock-up period preventing V’s institutional ownership (the banks that used to own/still own large stakes) from selling shares, and if and when it might expire?
My thesis is that these banks knew the credit crisis was coming, put together the V IPO to provide liquidity, retained some ownership, and will sell this ownership when they are freed to do so. What is that lock up period?
July 2nd, 2008 at 2:00 pmDumb motherfuckers got cute, thinking they were on top of this shit. Started believeing a bunch of chi-com, and India bullshit! Well, fuckfaces … the tail has stopped waging the dog.
Today, they get stung … with many more stings as they hope and bet on the past.
July 2nd, 2008 at 2:09 pmDumb motherfuckers got cute, thinking they were on top of this shit. Started believing a bunch of chi-com, and India bullshit! Well, fuckfaces … the tail has stopped waging the dog.
Today, they get stung … with many more stings as they hope and bet on the past.
July 2nd, 2008 at 2:09 pmBoom, the lock up period is for shorting I believe? I’ve heard 6 months
July 2nd, 2008 at 2:15 pmDonny, is there an echo in here? Just saying….
July 2nd, 2008 at 2:18 pmNext leg down begins now.
July 2nd, 2008 at 2:21 pmno dawgg … I’m just emphasizing, with a big olde EXPLANATION POINT AT THE END!
All is well … all is well … all is well … all is well!
July 2nd, 2008 at 2:23 pmDonny, you express a clear and well thought out thesis. I hate the momo fuckassauruses more than most. Which is why I told all to short Bill MIller. Die Legg! People have all sorts of aspirations, dreams. I just wnat to see CRM trading at 8 dollars. Did you hear me fly, or did you miss that bust up of Legg yesterday? Incidentally some bank shorts are working well today. You know what I’m talking about Jakey, right?
July 2nd, 2008 at 2:32 pmI just wanna know, how many lashes will MS receive for their bullshit “propping up” of LEH? Surely The Fly will smite them one last time for their egregious, lyin’ ass tactics, no???
July 2nd, 2008 at 2:39 pmcue the homo hammer of death- lights, camera, and…. action!
July 2nd, 2008 at 2:41 pmLock up on V is 180 days, standard for an IPO. It has nothing to do w/ shorting. It just forces the selling shareholders (JP Morgan, BofA etc.) to hold what they did not sell in the IPO for 6 months before they sell anymore.
July 2nd, 2008 at 2:45 pmThe selloff will not end until CRM takes one deeeep where there ain’t no sun.
Last man standing. Shoot to kill.
July 2nd, 2008 at 2:47 pmGasparino out with the LEH secret bailout plan, no takeunder.
Lehman is insolvent. I don’t know what he’s talking about.
July 2nd, 2008 at 2:49 pmWhere’s that 8-language nim-numb “Au Contrair” (sic)?
My fucking vorpel blade is carving his Euro-trash bottom call to flank steaks whilst I check the Yankees scores.
Snicker snack!
Snicker snack! Muthafuggahs!
July 2nd, 2008 at 3:07 pmLast Gasparino is “taking his shot” at becoming an honorary member of the Plunge Protection Team.
_
July 2nd, 2008 at 3:09 pmFly, you’re a few days late and several big $ moves short. I got in SMN at 26 and have been short NUE, MOS, ANP, MON, KOL and X before they had their moves. You wait for the break and then sound off. Why didn’t you place you bets before the obvious? You have no balls. BTW, I’m super rich after today and my gains are now 88% YTD. How you doin’?
July 2nd, 2008 at 7:33 pm