Happy 4th of July; America is Dead
The airlines, autos, banks and the retailers are all going under. Ironically, the fucking farmers are doing swell. Remember back in the 80’s, when those fuckers were as poor as cow shit? They even threw concerts (Farm Aid) for those assholes. Farmers were just walking away from their crops and moving to the ‘big city,’ like the fucking rubes they are.
I bet loads of those assholes took up executive positions at Bear Stearns.
Oh the irony.
I’m getting my face kicked in, long [[RIG]], [[ARD]], [[FTK]] and [[PCZ]] here. Thinking fast, trying to stem the bleeding, I bought a block of [[DUG]]. Ultimately, the oil names will rebound and hit new highs. However, we are in ‘fuck mode’ right now.
Get your guns and sharp blades ready. Soon enough, assholes with tow trucks will roll up to your house and jack you for your grub, via towing away your bullshit refrigerator, right out of your house.
Just know, “The Fly” sees shit in slow motion. I can see the hits coming, before they happen. Right now, I’m into all sorts of short positions, mostly for the fun of it.
After all, I am up nearly 55% year to date and I don’t need more money. However, it’s worth noting, I do want new money.
They really need to fire everyone on CNBC. If I were in charge, I’d replace them with comedians, like Chris Rock and Robin Williams.
Finally, I made a lot of moves today. Go reference my ‘Fly Buys/Sells’ for a detailed look. In short, I want to be a net buyer of energy stocks on this dip, while greedily hedged with DUG. Also, I want revenge against the devil, via long [[SMN]]. And, I have a variety of bank stocks that should be at zero. Therefore, I am short.
Also, I covered most of my [[HRB]] short. It’s too fucking lame.
Holy Shit Update: Go check [[NVDA]]. Go long [[SSG]] off of this disaster. Apparently, NVDA has a packaging issue. Off the top of my head, [[AMKR]] is into that type of shit. Short them too.
That was the biggest slow motion sell off I’ve seen. Hah.
July 2nd, 2008 at 3:56 pmThe last bastion of hope for the bulls … Energy Stocks. Oh, but I assure you, The Bears are eventually going to rip the head of this sector off too!
Warning to inferior permaidiots, this is no place for you to get cute.
Let the skull fuckings proceed!
BTW, At this time, I would just like to thank my cranium for a spectacular day. I will reward myself with a spectacular weekend! I will be heading off to Las Vegas tomorrow to visit friends, play a round of golf and skull fuck a pit boss or two. Ta-Ta!
July 2nd, 2008 at 4:00 pmRepost : someone had the temerity to start buying shit and making new posts after I worte a brief compendium of things as they stand.
Darn it Jakey, I thought you were gonna do a limit order at 14.40, as of yesterday. When I saw the 15 today, I thought you were like a rabbit’s foot on a key chain.
aside.. I had postulated that Martay would destroy this bank just like he did Downey. Seems he is not intrested though.
Big Mike, you seem like a considered gentleman and I defer to your judgement on DUG, as well as coal and steel. Going to open up a little short feeler on the trio and see what happens tomorrow.
last aside.. calvino is still furious about the pump job the BOJ ran on the chf and eur. filthy douchebags.
just one more aside.. LVS may or may not go into receivership.. ditto mgm. if wynn thinks it’s like a teflon duck, step on it and see if it quacks.
July 2nd, 2008 at 4:05 pmEverything is being set up perfectly for Monday. Tomorrow we see further downside action perhaps even a 300 point loss on the Dow. The markets in Asia and Europe will take a HUGE dump on Friday while the US markets remain closed. Futures will collapse. Further downside in Europe and Asia on Monday. 1000 point down open for the Dow on Monday. That will be the bottom.
CALVINO, Speaking of LVS it wasn’t too long ago when those fuckers on Fast Money were pumping it. It was trading for $100 and all they could talk about was Macau and expansion and growth etc etc. This POS trades at the most ridiculous PE ratio yet nobody cares. Stupid fuckers ! I actually owned this in the 70s rode it to the around 120 kicked my self in the rear when I saw it continue upwards to near 150. Now I am laughing. Too bad I didn’t short it though.
July 2nd, 2008 at 4:16 pm“The Fly” doesn’t need more money???? Greed is good - speculation is good - banking more coin is good. Stocks were dumped today for the weekend - maybe more tomorrow?
July 2nd, 2008 at 4:21 pmBYD goes down every day.
Guess investors think it’s not the right time to build a $5 billion super luxury 5000 room hotel casino megacomplex in Las Vegas (The Echelon).
July 2nd, 2008 at 4:30 pmCAP-
the shit we are facing, on multiple fronts, in epic proportions, will not be resolved in a Q or 2.
July 2nd, 2008 at 4:41 pmAfter all, I am up nearly 55% year to date and I don’t need more money. However, it’s worth noting, I do want new money.
FYI, this line of reasoning cracks me up almost as much as “Listen to me very quietly.”
I don’t know why.
They really need to fire everyone on CNBC. If I were in charge, I’d replace them with comedians, like Chris Rock and Robin Williams.
I thought they’d put that plan into action years ago. Don’t Last Gasparino and Cramer do the Comedy Shoppe circuit?
Also, I covered most of my (HRB: 21.88 +1.44%) short. It’s too fucking lame.
Rather, you should’ve sold RIG and FTK.
July 2nd, 2008 at 4:46 pmFuck you for 2nd guessing Senor Tropicana.
July 2nd, 2008 at 4:51 pmAwesome…..thank you so much!
Seriously fucker that is the best wrap I’ve read in a long time.
I guess it really is “milk the farmer” at this point.
July 2nd, 2008 at 4:53 pmCan’t wait for the next catalyst.
Jake = the court Jester.
July 2nd, 2008 at 4:55 pmHRB was the Mr.Mortgage play…that stock had weird JUJU from the getgo.
July 2nd, 2008 at 4:55 pmTonight, we dine in hell!
July 2nd, 2008 at 5:01 pmI went down to Georgia
July 2nd, 2008 at 5:03 pmHappy 4th. America may be dead, but I’ll have you know I’m still a proud American.
National Anthem
July 2nd, 2008 at 5:09 pmJake = banking huge coin, shorting banks, selected techs & retail, long SKF, QID, FPX & EEV (thanks for this last, Fry).
Jake
=holding egregious momo materials that are now “dead-deads.”So solly.
_
July 2nd, 2008 at 5:20 pmNVDA destroys nasdaq tomorrow
July 2nd, 2008 at 5:25 pmJake, I pose these questions to you:
1. If you are shorting the banks, are they letting you in the door to “bank” your coin?
2. Are you being escorted out to the back alley to be mercilessly beaten with large burlap sacks of coins? If not, why not?
Just asking….this whole matter came to my attention at the last FOMC meeting.
July 2nd, 2008 at 5:30 pmChad, yeah that NVDA after hours action is scaring me.
Fly is probably “chortling” with glee at the bump up his REW holding is going to have tomorrow.
July 2nd, 2008 at 5:53 pm“The Fly” doesn’t ‘chortle.’ He chuckles.
July 2nd, 2008 at 5:55 pmListen to me now when I say that the resurrected and transfigured Jesus Christ Himself touched Whitney Houston’s vocal chords as He knit her together in her mother’s womb.
That anthem video must be from the 80’s when she was in her prime.
“And the rockets red glare…” Do you realize what is involved to sing that he way she did? The control? The intonation? The embrasure? The lung capacity? The abdomen? The elegant yet ferocious attack?
Do people even wave flags anymore? Do people even sing like that anymore?
Thanks for posting that.
July 2nd, 2008 at 6:08 pmfyi, that was prerecorded and lip syncd. however it is her and is impressive.
July 2nd, 2008 at 6:12 pmThe patriotism was also piped in.
July 2nd, 2008 at 6:20 pmBen — good questions.
Actually, none of my egregious shorting wins ever see the inside of a bank. I have my brokerage accounts (neither of which are bank affiliated, btw) bring out packets of large unmarked bills in suitcases every evening.
I then throw said suitcases in the back of an egregious SUV, and drive down to “Bob’s Cattle & Coin,” where I immediately exchange the worthless fiat paper for both silver bars and gold coins of various mint offerings, as well as several hundred head of cattle, which I dispatch to various ranches across the country for future beeve slaughter.
Anything left over I put into the corn silo.
___
July 2nd, 2008 at 6:22 pmSerious — I have friends who are insistent that the whole US financial system — including the FDIC — will collapse with our dough in it. I keep minimal amounts in banks, if I can help it.
July 2nd, 2008 at 6:24 pmI’m pretty sure that was the Giants
firstsecond Superbowl… in other words, the “pre-crack days.”And yes, Whitney got her start in the gospel garrets.
July 2nd, 2008 at 6:25 pmBoomer:
You must be stones or some shit, exaggerating that anthem performance.
Personally, I prefer a rap version of the anthem.
July 2nd, 2008 at 6:26 pmYeah, I like the sound of chuckles better too.
July 2nd, 2008 at 6:29 pm“just once, i’d like to hear you scream in pain.”
“play some rap music.”
July 2nd, 2008 at 6:29 pmOh, and Ragarm Pennington — it was NOT a lip synch. The audio and video never match up on those stadium anthem shots.
__
July 2nd, 2008 at 6:30 pmoxy moron = rap music
July 2nd, 2008 at 6:31 pmWhitney Houston’s performance at the 1991 Super Bowl when the US was battling the first Gulf War. Her performance was lip-synched, but was released as a single and sold about 750,000 copies.
link:
http://www.songfacts.com/detail.php?id=2102
or, question 6
http://www.cbc.ca/cgi-bin/quiz/quiz.cgi?quiz=arts_sports
In 1991, singer Whitney Houston’s “Star Spangled Banner” at Super Bowl XXV won rave reviews until it was discovered that it was pre-recorded and she had been lip-synching. Despite all the flak, her version of the national anthem became one of her biggest hits.
http://www.associatedcontent.com/article/280182/controversial_performances_of_the_national.html
July 2nd, 2008 at 6:37 pmHow many gold records have you fuckers made, sold, or even SEEN?
Eggsactly [sic]
July 2nd, 2008 at 6:37 pmJake - which brokerage(s) are you referring to? I need to help my mom do some defense. Ameritrade has no banking affiliation, right?
July 2nd, 2008 at 6:39 pmMerrill’s non bank affiliated. I would’ve suggested AG Edwards, but I think Wachovia just bought them, the fools.
Even Morgan Keegan is owned by a bank now. I guess Hilliard Lyons is not anymore, since they got sold by PNC recently.
Update: I almost forgot about Edward Jones, — they are a good one too. Conservative and independent.
I’d be careful about the online guys…
July 2nd, 2008 at 6:45 pmChadster,
That’s an old industry myth. That was all Whitney, all the time.
_
July 2nd, 2008 at 6:46 pmSo, when does GS begin to act like a financial company?
And, a related question, when does Mugabe get eaten by his own people?
Consider these two items (I’m not confident enough in the source to call them facts):
July 2nd, 2008 at 6:47 pm–”Civil servants mostly get paid through direct deposits into bank accounts, which limit withdrawals to 25 billion Zimbabwe dollars a day.”
–”A loaf of bread costs 30 billion Zimbabwean dollars.”
jake - be careful about the online guys? etrade, yes, cause they have all the bullshit lending. But AMTD?
July 2nd, 2008 at 6:49 pmBoom — sort of talking out of my ass… but the online guys make me nervous in a purely psychological sense.
They’re… a screen… y’know?
_
July 2nd, 2008 at 6:57 pmGeez, jake. What are you, 47.5!?
July 2nd, 2008 at 7:03 pmSpeaking of screens, I can figure out how they got all those little people inside my old CRT screens, but how does it work with flat panels?
July 2nd, 2008 at 7:08 pmi can’t imagine what’s going to happen monday. holy crap.
July 2nd, 2008 at 7:08 pmI think everyone should open up multiple brokerage accounts and use those brokerage accounts to short those brokerage accounts just to piss them off.
July 2nd, 2008 at 7:10 pmI once tried to short microsoft, and IE kept closing. Then I tried to open up firefox and all these windows errors messages popped up. Then I tried to short it, and it said “fatal error”, so I tried to distract the computer by doing a disk defrag, but it said “windows shutting down”.
Then I used my mac that never works and ever since I shorted MSFT, it’s worked just fine.
Conspiracy? I think so.
“They really need to fire everyone on CNBC.”
The only cnbc “host” with a show that’s ever made anyone a dime is Howie Mandel.
Even that evil cocksucker Murdoch can’t figure out how to put a decent business show on the sucktastic blowjob-fest that is Faux News.
Opportunity for instant hit “FlyCast” web show. Both MiniMe Cramer’s special ed audience and/plus non-short bus riders, too, would “tune-in.” Fun for the whole family.
I have helped far less talented “personalities” win ratings on the teevee with far dodgier content, “The Fly.”
I’m just sayin’. And I am never wrong on these matters.
Never.
July 2nd, 2008 at 7:23 pmTwo very big Aussie brokerages went insolvent this spring and stung everyone with a margin account. If your mom does not sell short, does she need a margin account. Alternatively, as Herb Greenberg says, trade through a trust account.
July 2nd, 2008 at 7:23 pmThe other day I thought the capital window had shut. There were 67 securities trading with 9%+ yields. 3 days later, 101. Names like KEY are trading north of 13%.
Fasten your seat belts. Turbulence straight ahead.
July 2nd, 2008 at 7:41 pmFly, sometimes you’re just wierd. Going long DUG which I did at 25.70 and then saying you want to be a net buyer of energy stocks on the dips. Do you know what the worst performing sector is in a RECESSION? ENERGY. Go ahead and buy them as I need somebody to SHORT SELL to. Thanks much!
July 2nd, 2008 at 7:58 pmCalvino - so a cash account is more secure?
July 2nd, 2008 at 8:02 pmFuck you Devil Dog.
“The Fly” has been busy killing banks.
Your 88% on 50k is equal to me scratching my balls, while watching Fast Money.
July 2nd, 2008 at 8:27 pmRetards:
I am willing to lose money in my oils. They are my hedge against death. Don’t get overzealous or feel hubris over your short bets.
The market has a tricky way of tricking those who deserve to be tricked.
I, on the other hand, think about these things, while eating pork chops and apple sauce.
July 2nd, 2008 at 8:43 pmShould I feel hubris over my long bets, then?
You’re not the only one hedging, you know.
What’s the only thing that goes up in a crash?
_
July 2nd, 2008 at 8:51 pm200% inverse etf’s go up in a crash. Everything else goes down.
Quit trying to be cute.
July 2nd, 2008 at 8:54 pmI love pork chops.
July 2nd, 2008 at 8:55 pmIs that some kind of a fucking trick question. Martay’s accounts go up in a crash, that’s simple.
Boomer, when you open a margin account, you are becoming an equity partner of the brokerage. You get paid off after the creditors. People do not read the gobblydigook, however it is in the agreement.
IF you remember the magic bald talking leaping monkey was trying to backpedal around the Bear rec, and trying to get around saying it.
July 2nd, 2008 at 8:57 pmThis could be the easiest picking in all my days of trading. A slow steady race to the bottom. WFR and ASI put options were the shit today. I’ve made more money this past 5 days than all year. There are so many things to buy puts on I have trouble finding which one will go down the most. I’m going to go and buy a fucking truckload of coal because I feel so bad for the industry. It’s the least I could do after the money the gave me today
July 2nd, 2008 at 8:57 pm200% inverse etf’s go up in a crash. Everything else goes down.
Except that shiny yellow stuff.
Quit trying to be cute.
Sorry, the moniker wasn’t checked before post.
July 2nd, 2008 at 9:07 pmYou say “Duke Lehman?”
“Duck, I says!”
_
July 2nd, 2008 at 9:08 pmAh Jakey, the old mre’s, ammo and penicillin trade.
July 2nd, 2008 at 9:10 pmNow I am going to bring those whores in here Ned, if and if they start telling lies different from your lies, then I’m going to have to hurt you. But not nice like before, but bad this time.
July 2nd, 2008 at 9:12 pmI was researching the 1987 crash and came across an interesting article about that period, its precursors and its aftermath.
Too long to post here, but here’s the link if you’re game.
_
July 2nd, 2008 at 9:17 pmCalvin,
That’s a top three for me. Could be number one, but I can never decide between that one, L.A. Confidential and The Godfather(s).
Gladiator is up there, too, though, I guess.
July 2nd, 2008 at 9:58 pmHow many gold records have you fuckers made, sold, or even SEEN?
I melted down all my* gold records, as bullion will be more fungible, after “the Great Winnowing.”
______
*(purchased in a Michael Jackson bankruptcy yard sale.)
July 2nd, 2008 at 10:01 pmFunny Jake.
Mao makes a new 52 wk low:
http://finance.yahoo.com/q?s=^SSEC
July 2nd, 2008 at 10:06 pmShang-hai getting shanghied again, down 2.2%.
Ho hum.
_
July 2nd, 2008 at 10:07 pmTim Knight has a great video posted. He illustrates a number of train wreck stocks…many big names…and says “its almost like we are headed to a Great Depression.” He also illustrates we may be at support on the DJIA and S&P.
http://slopeofhope.com/2008/07/penultimate.htm
Tomorrow is going to be great to watch and trade. I have a new Opus X to chomp on - special for the event.
July 2nd, 2008 at 10:55 pmI’m sorry to be posting so much. I feel like a spammer.
L.A., Miami Home Foreclosure Rates More Than Double (Update1)
By Sharon L. Lynch
July 2 (Bloomberg) — New foreclosures almost quadrupled in Los Angeles and doubled in Miami in the second quarter, with as much as $5 billion worth of loans going bad in L.A. alone
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYchgMdpnpC8&refer=worldwide
July 2nd, 2008 at 11:13 pmDon’t forget the employment situation reports tomorrow. Will the BLS throw us a curveball?
July 2nd, 2008 at 11:24 pmAnd its an abbreviated session plus a three day weekend. Remember the fuckery with the rogue trader? That was a three day US holiday, and Asia/Eur traded two sessions without us.
I expect extreme fuckery this weekend.
July 2nd, 2008 at 11:31 pmJuly 2 (Bloomberg) — New foreclosures almost quadrupled in Los Angeles and doubled in Miami in the second quarter, with as much as $5 billion worth of loans going bad in L.A. alone.
You know Mr. Mortgage is staining his LoomFruits on this one.
I was only half kidding when I said that every bank I saw in Pasadena the other day is probably “doomed, fucking doomed.”
I will bring the list I jotted down tomorrow.
_
July 2nd, 2008 at 11:50 pmThe number of foreclosure sales slated in Los Angeles jumped 63 percent in the second quarter from the first quarter. The figure rose 28 percent in Seattle, 20 percent in Miami and 5 percent in New York.
What the hell is wrong with these people??
July 3rd, 2008 at 12:10 amWFSL is BIG in Seattle. I may have to throw that one on.
July 3rd, 2008 at 12:12 amThe Inland Empire is sacked?
July 3rd, 2008 at 12:32 ami’m in seattle. condo market here is beyond saturated, and there’s still a huge amount of new construction in progress. i expect slowness here for quite some time.
July 3rd, 2008 at 9:16 am