Some of you people ask and ponder: “Fly, if you hate CNBC so much, why do you watch it? ”
Well, for one, there is not much of an alternative. But, more importantly, their commentary and rumor mill department moves markets. In my business, information is everything.
Well, CNBC is now reporting the so called “bad bank” idea, floated out there by Fuckhead Steve Leisman, is just a pipe dream. Gasparino is now reporting the Government has no idea how to implement such a program, without bankrupting ALL OF THE BANKS.
Wake the fuck up SEC. Those assholes on CNBC just spread a rumor that jacked bank stocks higher to the tune of 30% in one day. Now, one day later, we find out it was all bullshit?
You have to be fucking kidding me. You— have— to— be— fucking— kidding— me.
I allocated millions of dollars yesterday, based upon some end game for the banks and now I find out, while relaxing with the kids, it was just some crazy eyed story.
They (CNBC) are repeat offenders and legal action should be pressed.
UPDATE: Here is the clip where Charlie throws a wet towel on Leisman’s original bad bank rumor.
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I bought into the idea last thursday so I didn’t get killed over the pullback, but yes I noticed that a good percentage of yesterday’s gains were removed.
Just heard Gasbag in my car on Sirius. Could you recommend another hobby, since strategic stock trading is now 100% impossible?
Fly, don’t you think SEC is part of the game?
A pox on their houses:
http://dabagirls.wordpress.com
Goldman says bailout now 4tril:
http://www.cnbc.com/id/28918543
lol wut?
I hope you are fucking kidding about this FLY.
You cant be serious about them “taking” this one back.
No joke
Is anyone trading these after hours? MS STI STT GS SKF FAZ BAC C GE SRS?
FAS just lost all of yesterday’s gains in the pm.
Holy shit…I can’t watch much of CNBCs bullshit during the day, so I thought this was bona fide…You gotta a point there if they are responsible for a “rumor”. That’s a legal issue.
After hours is total shit tonight…gotta be GDP.
Hold your position, it is another lie. I heard it was going to be upped to a $5T helicopter drop on groundhog day.
Fuuucccckkk
(Bloomberg) — Japanese manufacturers cut production an unprecedented 9.6 percent last month, deepening a recession that’s expected to be the worst in the postwar era.
The drop eclipsed the previous record of 8.5 percent decline set in November, the Trade Ministry said today in Tokyo. Economists predicted a month-on-month decrease of 8.9 percent.
This is a depression there not a freaking recession.
Nice call Fly…but you should no by now that this is all one big conspiracy.
The international bankers that run the fed also sit on the CFR which also has the 6 corporations that control 95% of the media.
Regulators will not do anything right now since it may topple the entire system.
More importantly, there is no model to price the toxic assets. That is why these fuckers should just go bankrupt already and if the taxpayer has to buy the assets then we should pay what a vulture would pay.
Corruption has ruined this country !
Oh and unfortunately CNBC is covered since they only reported on comments from the white house…
Don’t you find it odd that at precisely 846 S&P Obama comes on t.v. to talk tough and inspire some confidence ?
It is one big game.
I bet the PPT is not reccomending many banks at this time…..
^A SCAM SON!!!!!!!!
Tomorrow is fucked.
Just an fyi.
Maybe now that the all-powerful Bush crone Jack Welch is gone from GE, they finally will investigate CNBC.
I had two words for why I wanted CNBC investigated…..WAY back in the dot-com days:
Cramer & Blodget
When these scumbags were on at least once or twice week, flashing their trench coats and showing their “latest stock wares” pinned to either side.
You know you could name your bank chart before that Leisman bullshit and see they were all breaking down. Then that assclown comes with the bullshit. I bit because the XLF call buying was insane to back the story. I hedged and did not need too. Well I finally woke the fuck up and took my hedges off about 3PM so let this fucker go down the drain. FUCCCC CNBC!!!! Their only useful purpose is for fading.
I just bought 4000 shares of FAZ.
I am also short HBC.
If we cant get our shit together here, you know the UK is fucked.
Jesus, I cant believe the shit that is being pulled. I feel like they just want everyone to walk away and give up trading/investing.
I had no idea that Steve Leisman started the rumor and that it was a rumor. I was like – why the fuck they keep mentioning Steve Leisman on CNBC in connection with bad bank idea. Did he take some sort of interview from government official? I’m still not clear what is the whole story.
As for bad bank and stimulus package. Stimulus package is a pea in the ocean compared to CDS size.
Bad bank – US citizens are the best citizens government can have, but buying crap will outrage even them.
Also where will they get the money? Right now Benny threw away trillions of dollars behind the scene in exchange for crap and nobody is talking about it. We are “concerned” about 200 million contraception shit and etc.
My girlfriend once asked me if I thought it would be a good idea for her to buy stocks for her future back when the DOW was at 13,000 ish. I told her, “that’s not really a good idea hon”. She looked at me like I was being controlling and didn’t want her to have her share of the American dream. I explained how it was a very long way down from these heights and that she could lose it all in a second. You should concentrate on tangible assets that need to be taken care of or maybe some US savings bonds. LOL.
CNBC is the delivery service for the market, which provides that main street stay poor, gives up the labor and gives free access to resources; these things then provide A HELL OF AGES to them stacking the cards.
That sinking feeling, when you suddenly see things far below the surface of your denial addled mind, and know your error, oh, that’s just the beginning. You will wander aimlessly in dreams frequented by overwhelming and fearful things. You will only return to the world by contrition and intuition of the great guiding and leading light before all things. And then only, as one small and weak.
When we see you again, things will have changed. The jackboot may be on the other foot. What will you do then?
Anyone who missed it:
http://www.cnbc.com/id/15840232?video=1017154189&play=1
Not one, but several rumors being reported.
I think most Americans have forgotten
the dignity of revolution.
Too bad.
Or this one, during Power Lunch:
http://www.cnbc.com/id/15840232?video=1016828136&play=1
They kept Leisman on Kudlow’s show to Pump that fucking story over and over again too. I am really getting pissed about this shit.
SUGGESTION TO EVERYONE ON IBC: Take out a small short on GE just out of fucking spite!! They are doomed anyways. It will make coin and you can just smile next time they pump some bullshit. FUKKK EM!!
Doesn’t Gasparino sounds as though he should have been on the Sopranos?
these idiots are out of control. They’re even boating about how their stories moves the markets.
Wow, the government is working with Wall Street to figure out how to best give them a few trillion dollars…egregious…
The SEC requires its very own investigation by exterior eyes!!
On top of the ongoing CNBC fraud…I digress…..
If you think it is wrong for illegal aliens in the U.S., WITHOUT valid social security numbers, to get a cash stimulus check, you can make a difference, and do your part to stop it.
Please fax or call your Congressman, and President Obama. You can get all those numbers and addy’s easily at:
http://www.numbersusa.com
Thank you.
Oh Fly its just money, besides in 10 years the earth will be no more because Al Gore said so. Its all a fun child’s game with CNBC, let report shit to move the market up and down, similar to what Maria Bartiromo’s ass does every night with that Italian fuck. Don’t Italians hate fat women? Anyway nothing will ever be done, its all fucked.
CNBC was really trashy in the mid 90s when they had a guy on named Dan Dorfman who had the Dorfman Report. He basically passed on rumors and the stocks reported would go wild. He eventually left under investigation, from what I recall.
I have not watched or listened to CNBC for a few years now.
It has improved my ability to stay completely focused on the market action, so listening to these idiots and then saying they have the ability to move the markets seems to be a self-fulfilling prophesy.
I’ve been watching a lot more of dry toast Bloomberg – especially when big dufus Dennis is on at lunch.. Can’t stand him or the little girls who have no idea whats going on
Damon you worried about some fucking illegal getting some peanuts when YOUR GOVERNMENT GAVE 700 BILLION+++ TO BANKS WITH HARDLY ANY STRINGS ATTACHED. Wake the fuck up. It’s not the illegal aliens ruining this country but the coat and tie wearing motherfuckers.
Nice!! In other news Mr. “Walk Tall and Carry No Stick” Obama thinks that the $18 billion of taxpayer money given to bankers was “shameful”. OOOOOOOOOOhhhhh, look out NYC financiers!! I bet that Obama guy looks threatening on your large screen plasma, as you drink your Glenlivet and pop your Ambien for the pending night’s rest.
I’m going to Michigan to grab a bunch of hunters with guns to annex South Hampton on to the Midwest.
Don’t play the victim,here is what everyone can do to make a change,just turn the fucking thing off.
Jf
That’s the george bush approach to keeping informed, you jackass.
Turning off cnbc would not have stopped the rumor, would it?
Until cnbc stops moving markets, you have to watch.
Fuck CNBC and that entire crew. hopefully,some x-day trader who blew up his account will walk in there and take an axe to these fuckers.
To “liberal” Goldie:
You gotta start somewhere.
You might want to do some real research on the costs, and perhaps go live in a border city.
Calexico, El Paso, San Ysidro…or how about Mexifornia?
Then you can tell me all about how little of an impact it really has on the USA.
TraderCaddy:
I forgot about that. I used to day trade on “The Dorfman Report”
HAHAHA…how funny.
He did get busted and fired (I believe for insider trading)
Mr Fly,
With all due respect
I think the George Bush approach was watching CNBC.
1. The bank back near my home town is down 95% off it’s pre-crash highs.
2. The US Gov recognizes this will not stand.
I’ll consider it a buying opportunity. When it’s all said and done, I’ll look back on this whole thing as a brilliant victory.
OMFGITSJD, you sir are a moron. That money is as good as gone. You’ll look back wondering why you quit delivering pizza and tried trading you 3 digit account.
I don’t really see how they don’t do the good/bad bank thingi as they really don’t have a choice. Well they do but they won’t let the banks fail or want to nationalize them.
CS is suggesting they’ll come up with a bad bank thingi next monday or tuesday.
Yeah fuck them. Those assholes are probably getting their bad info direct from the PPT. Need a short squeeze? Just feed those assholes some bad info and SHAM-WOW!
I have been watching CNBC since they went on-air in 1989.
CNBC became THE number ONE de-facto business news channel around the world.
CNBC moves markets, plain and simple.
Show me a trading floor anywhere in THE WORLD that doesn’t have CNBC on a big screen or at every trading desk.
CNBC has an uber-budget, for they have golden viewers (during trading hours), and they know it. Jeeze, look at their daytime ad rates.
Why would all the big boys want to come on TV and push stock, if they didn’t think that CNBC can move stocks in the first place?
“I allocated millions of dollars yesterday, based upon some end game for the banks and now it I find out, while relaxing with the kids, it was just some crazy eyed story.”
To this I say: You have to be fucking kidding me. You— have— to— be— fucking— kidding— me.
Glad your not managing my money!
“Until cnbc stops moving markets, you have to watch”
–the only issue.
If they move markets, the SEC should investigate.
The FBI will be at the SEC soon. The SEC has kissed the wrong asses.
Das Fart,
Sounds like you don’t believe much in the ability of the US to turn the tables.
Haven’t you learned this lesson before?
What I am saying is this, if no one watched this shit it would not move anything.
If you want to change this shut the fucker off.
Think about this,if everyone in America refused to watch CNBC tomorrow, just for one fucking day they would lose the power to move markets.
That’s correct OMFG. Right now, there is no hope in site. I don’t think in 5 years that will be the case, but it is for the foreseeable future.
What will happen is the value of your little shitty bank stock will continue to fall. At some point your emotions will get the better of you and you will sell for a tremendous loss.
OR.
The stocks perilous drop will get the attention of the wrong gov’t folks and that shit will get closed. Your stock will go to zero. you will instantly remember the post and hopefully jump out of a 40 story high building.
The end.
F&*K CNBC, some said it best on here way back:
Clowns Nothing But Clowns
boring stuff: CNX just upped to buy at citi right now… and for anyone in the world who cares UA was downgraded to sell a bit ago.. wow
Is there 1 honest person in New York? Boy how I hate those sons of a bitches.
Well Fark, it’s when all hope is lost and panic has seized the minds of everyone and capitulation is all around me that I mosey on into a long position.
What is an investor supposed to trade on, if not news?
Wait let me guess, charts?
You have to be fucking kidding me
You’re angry they jacked bank stocks… I’m angry they (the MSM) sold the Iraq war…
Whatever it takes to wake people the fuck up, I’ll take it.
-DT
Cry me a river…
Mr Fly,
There are many other news sources available.
For the love of pastrami sandwiches, please call for a boycott of CNBC, JUST FOR ONE DAY.
Thanks
Actually, if the entire stock blogosphere called for a boycott of CNBC for a day, Dennis Kneale’s head might explode and the world could be saved.
I like the thought.
How about on Groundhog’s Day?
-DT
Used to watch Financial News Network before CNBC even started. It later merged into CNBC. They used to have an old guy named Ed Hart who did the bond report. The guy was street smart, especially for a journalist. He and Rick Santelli would make a good team.
Of course back then I would trade off a B&W Quotreck that ran off FM radio waves. The antenna was about two and a half feet long. Pre-cell phone days.
How could I keep hope with out the help of CNBC….Mustard Seeds….Mustard Seeds!
Fucking moron!
American’s everywhere are out of cash and credit…mustard seeds my ass….America needs some Gold Bond.
Groundhog’s day would be perfect.
The perfect storm.
Out of cash and out of credit. Hmmm, sounds like it’s time to start the accumulation process. Thanks.
Anyone have Leisman’s address?
Monday Feb 2 2009 Groundhog’s Day
Boycott CNBC day.
I’m putting it on my blog right now.
You know you also have to blame the specialist and floor traders.
They have a habit of taking out offers when it is convenient to their books.
The specialist on the NYSE were fined millions of $ for “walking stocks.”
Apparently they would not take offers out on light volume days and only hit bids walking the stock down to where there was 10’s of thousands of shares to be stopped out. Of course they took the stops out and then used the public orders to take only offers out while any sells were done in between the bid and ask.
Damon you miss the point. I could care less about illegals. TRILLIONS are being stolen from the taxpayer and you worried about some illegals getting more peanuts than you. I see you are quick to throw the “liberal” label but I got a news flash for you.. Dem or Repub THEY ARE ALL CROOKED!! Frank Zappa said it best. “Politics is showbiz for Industry”
The financial news out of Japan deepens and the BOJ is fiddling while Japan goes up on smoke.
Japan’s previous recession was a deep and lingering one. This one is even deeper.
The biggest reveal here is that the Fly trades CNBC news – say it aint so. Thought you were at the level that would make a call or two after the BS was announced and either confirm or deny the claim – ala Greasy Gasbagarino. So, I am a bit stunned to say the least. The curtain is being pulled back andf I don’t like what I see. Not trying to bash Fly – I have read you for the past couple years. But…..putting millions to work on CNBC news without confirmation? Whew. As for the rest of you and your opinions about CNBC – who gives a frig if you watch it or stopped watching it or think they should be investigated. You miss the point dipsticks.
I smell 650 S&P next stop with gold on the rise…
Get ready for global upset:
http://www.telegraph.co.uk/news/worldnews/europe/france/4384543/France-hit-by-national-strike-on-Black-Thursday.html
CNBC does move markets, everybody watches CNBC during the day. CNBC is full of lame ass pussy hosts and brown nosers buddying up to CEO’s to get free $1,000.00 lunches and more interviews for more free lunches at the most expensive restaurants in NYC. This compounds the problem of lame “go nowhere” interviews that only end up being adverstisements selling the wares of the companies CEO being interviewed.
The CNBC story has turned into a big all day advertisement for selling and pumping up the products of all the companies whos executives are interviewed throughout the day.
GE is the biggest fuckery they have. Since GE owns CNBC the hosts of CNBC never say anything bad or “IN REALITY” about what is really going on with GE since it is their daddy. This goes into the section of total fuckery in a clam shell.
Now onto the problem of this “bad bank” fuckery.
The real absolute heart of the entire economic situation right now stems from sub prime loans, nothing else. The oil situation was a side show. As we see now, gas is back to 1.50 a gallon….that situation resolved.
The SUB PRIME loan scam is the heart of the entire current world wide economic downturn. Our asshole leaders (yes I mean Bush) allowed rules to be so lax in the banking sector that the government, who sets the rules, allowed banks to give out loans in the millions, to people not qualified to ever receive a loan of any type, let alone for a 6-7 figure home loan.
The situation now is what to do with all these “bad” loans.
The solution is simple. Even I will participate. If the government is thinking about spending tax dollars to buy the “bad” mortages off the banks. Then the simplest solution is to sell the underlying empty homes to people like us who have money.
In short, to start eliminating the house glut, if the banks are going to try to sell these “bad” assets (empty homes, etc) for .20 cents on the dollar, then don’t use tax money. Allow these “bad” assets (empty houses) up for sale to anyone for the same .20 cents on the dollar.
I will buy many $200,000.00 dollars houses for $40,000.00 myself, and you guys would too. But that option does not seem to ever be floated. Always the government goes about things the most fucked up bas-ackwards way possible. This is again an example.
Listen, the banks got greedy and gave out unsustainable mortgages by the millions and now they want to wash their hands clean of it all by pushing their stupidity and greed onto us.
I want to see Citi and BofA go bankrupt, they deserve it. All will fix itself faster than this stupid bandaid that is on the wound now. It is a festering wound, just cut the fucking leg off and causterize it and lets move the fuck on.
But on topic, CNBC needs to be investigated for illegal market pumping, which they are guilty of everyday.
But like someone said above, who cops the cops? we need a 2nd SEC to cop the 1st SEC to cop the market manipulators.
CNBC is guilty of daily false market manipulation and thats the fact.
They try to paint a rosy picture everyday knowing damn fucking well NOTHING is rosy, but yet there those assholes do it again and again…..
Fly, great job on this. Please make it your lifes duty to put CNBC in there place. And make enough coin to start your own TV network financial show to put CNBC out of business.
Goldie:
Well, at least now I know that you think I am “a stupid fuck”….and I already knew “ABOUT THE BILLION$$” etc, etc.
I make a difference in my own way.
I love America.
If you want to live here, live here legally.
It is really THAT simple.
L’Chaim, my friend,
Damon
What Artist just said… I don’t know how that asshat Kudlow can fucking sleep at night. He has to know that his pipe dream mustard seed bullshit sways weaker minds. Hell, I know what the fucks going on, but even I begin sometimes find myself thinking things might soon get better, what with all his persuasive Goldilocks homo-speak. Then I shock myself back to reality. Fine, be optomistic; just don’t drag the dollar-cost averaging financial illiterates down with you…
Hmmm, I’m going to buy some GE tomorrow. Market cap of 134 billion, PE ratio of 7, and a dividend of almost 10%, and they will be helping to provide the infrastructure of tomorrow, as usual. Think I’ll start the accumulation process on that one too.
TheArtist-
“I will buy many $200,000.00 dollars houses for $40,000.00 myself, and you guys would too. But that option does not seem to ever be floated. Always the government goes about things the most fucked up bas-ackwards way possible. This is again an example.”
Freaking brilliant. Seriously. I had never heard that idea floated, and I think it is freaking brilliant. Only problem is that it would seemingly devalue the shit out of people who own their homes, or can afford their mortgages, but it makes a hell of a lot of sense, considering those folks are devalued anyway. And presumably those who can own their home or can comfortably afford their mortgage would be the ones buying the houses at 20 cents on the dollar.
Attention:
Everyone go get your prostate checked, compliments of Frank Zappa….who didn’t!
Hiya guys, Bernie here, first time blogger and hoping “The Fly” will link with my blog. http://www.bernard-madoff-scam.blogspot.com/ It is just terrible how CNBC rips people off. Meredith Whitney is not CNBC – she just interviews – says the “Bad Bank” is a bad idea. She says most banks have written off much of the toxic stuff and the bad bank would just have a few big customers.
Puny and Artist,
It might take a little while for it to come to fruition though. Once those in a position to buy the toxic shit (read: vacant homes) learn of the availability, they’ll wait for the prices to go down even from that .20 cents on the dollar. I think it’d probably get there pretty quickly, but the deflation will be on the minds of the financially and economically learned.
Keith Boykin is gay.
Don’t you guys get it: CNBC, Newspapers, etc do what they do for 2 reasons.
1) Allowing for the elephants to move in the grass without out you seeing it.
2) Manage expectations. If every one were told to sell @14k DOW where would the market be ? More importantly where would anything related to commerce be ?
We all can not get out at once. Nor can they persist a massive selling because no one would invest in us and our debt.
So they must manage expectations and from time to time prop the market up so as to prevent anarchy.
If they did not do so then we would live in a Mad Max movie.
Just be thankful that we can identify the scenario and lately volatility only allows for 1-3 day moves. If you were not long b4 the CNBC rumor mill pushing then at the close we needed to get short.
Maybe I’m wrong about the timing, but today I went long at the close to hedge my short bias.
If I’m wrong I’ll stop out quick. If not then I book a profit against my shorts.
Zig when they zag and vice versa…..
ddb jjjjut – that website is the biggest piece of shit i have seen since your mom’s live webcam.
Alvari and others:
CNBC is a news channel. Often times, their news is credible.
My decision to put money to work had much to do with the “alleged” proposal put forth by the government, via CNBC.
You can sit there, holier than thou and act as if you knew the story was bogus, but you would be lying to yourself.
Also, the story may end up being correct.
Here’s my point: I always put millions to work. That may sound like it’s such a big deal, but it really isn’t. Just another day at the office.
Sometimes it makes sense to trade on news, other times it is bad. What I do, with regards to money management, has little to do with CNBC. I have my core beliefs and stick to those. However, having a nearby naked short position, into the teeth of the Mother of all Bailouts prompted me to use cash for longs.
Now if you want to spin that in a way to just hate on me and offer idiot comments, go ahead. Just know this, I will track you fucking bastards down and punch you in the neck.
Anyone here that claims that “they don’t watch CNBC”, as a rule, is either lying, a pothead online poker player (too busy), or has a day job that involves punching the clock.
http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_A/threadview?m=tm&bn=17131&tid=49086&mid=49086&tof=5&frt=2
SRS to the moon
Atlas
Exactly.
Fly,
Might I suggest a dose of technical analysis? I can hook you up. This way you won’t be swayed by CNBC’s “news”. Or Becky Quick’s snapper…
Damon,
I don’t think you are stupid. The Illegal problem could be solved tomorrow but this country has an interest in them being here. Illegals are cheap labor. You want Illegals gone, drop huge fines on anyone who hires them on the first offense. Second offense=jail time. When Illegals are caught, air drop their asses right back to Mexico no matter how long they have been here. Eventually the problem will fade away. Ok no more post from me on this topic. Peace!!
Atlas Vicious
That is quite an ass umption
Junk Spread –
Jim Cramer now fancies himself as a chart guy. Does a segment on it now. Enough said. Charts aren’t worth the paper you would otherwise wipe your ass with.
I love how Fly challenged Cramer to defend his valuation of XOM on Twitter the other day, and he promptly removed the ability to send him messages. Good times.
i am just starting at this stock trading game. What is this “CNBC” everyone is talking about? How do you get it?
Please calm down, local denizens. We told you the other “day” that the Patrol was breaking the time loop that is afflicting your continuum. Of course that means that various events become reversed while overall entropy rises. SpaceTime Physics 101, and you are surprised!
————
Reality is an ongoing service of the Time Patrol
Fly why would you allocate millions of dollars on something a person on CNBC said about the banks? I heard the same news as you, and even at my lowly station of trading I knew not to invest in any bank.
I knew there was no way they can create a bad bank without screwing the American people by buying the bad stuff at a huge price or buying the stuff at such a cheap price it bankrupts all the banks anyway.
The banks are screwed….they need 50 trillion plus dollars to clear out all this bad stuff….banks will have to fail, and new banks will have to rise up and take their place. Some will be nationalized.
Please take those millions and put them on the sidelines. Allocating millions into bank stocks is really a risky venture. I would never dream of owning a bank stock right now.
I hope you keep your blood pressure down, stop acting on what you hear in the news….since when has ANY MEDIA been accurate? They all have agendas, they all try and manipulate the masses, they try and move the markets….they arent dumb, they know traders out their will buy and sell on ‘ their word’. DONT DO IT!
Use your own intuition and analysis. You are the one that convinced me to be a bear a few months ago….you were the one that told us the banks are screwed , oil is screwed, China is screwed….. What happened?
ps…I fully expect to be either ignored in my plea to you or to be yelled at in a vicious and vulgar way…either way it doesnt change the fact you need to take your own advise!
.
CNBC is a conduit. You fuckers must be dumber than I thought.
IF THE NEWS IS REAL, “bad bank”, it is a boon for banks, possibly.
I have zero bank longs. You know what i bought.
The point: CNBC just committed a crime, via disseminating false market moving rumors.
You are missing the point. It’s not enough to say” oh, fuck cnbc” “quit watching.”
No.
They have an obligation to check sources and “do no harm,” when it comes to commentary.
GEORGE WASHINGTON ON THE $1
LINCOLN ON THE $5
HAMILTON ON THE $10
JEFFERSON ON THE $20
OBAMA ON THE FOOD STAMP
I’ve been waiting for the first curveball of the year.
This may have been it.
Back to my Chi Tests.
Puny,
That an asshat like Cramer now touts TA would disqualify TA as legitimate is like claiming that since Rosie O’Donnell is a carpet licker that all women should be viewed at “useless”. Ergo, TA is not homo-ish as you claim…
FUCK YOU IDIOTS. Don’t worry about what I do.
Damn you people piss me off sometimes.
I BOUGHT NO BANKS!!!!
HEAR ME?
You stupid fucking bitches.
I bought some Chinese shit because I was hungry. I bought it because my Chinese delivery man wore funny sandals to my house.
Although Fly’s infantile left cerebral cortex prevents him from “understanding” the utility of TA, I must say that I agree with him with respect to CNBC. The wares they peddle are considered “hard news” (unless otherwise indicated; read: Cramer’s nonsense and Kudlow’s Mustard Seed tripe). If you trade based on fundamental and new information on fundamentals is made know through “news”, you should place some trust in that part of CNBC’s product.
Last statement on this shit. In classic iBC hater commentary, my post becomes about me and not the subject:
I have a bear bias. It is not enough for me to believe “China is fucked” or “banks are fucked.”
In the meantime, those fuckers can sprint 50% higher on news.
I am taking a conservative approach, via slowing down the beta with longs/shorts, and you stupid bastards are talking shit.
To Lady G::: were you around 2 months ago when Fly rocked 200,000+ shares of Citi (C) and held for something like 4 days for MA$$IVE gains ? And weeks before that, holding from like $17 calling for $21? He is in and out of banks quite often.
You are probably trading $5 – 30K for around 6 months to maybe 2 years now. This guy has been on it for a hell of a lot longer…
The Fly’s life is not unlike like that Peter Gabriel song “Big Time” I imagine.
la la ..my car is getting bigger… lala and my bank account… etc
Lady,
Perhaps Fly will allow you to take his Time Masheen out for a spin sometime. Since you don’t use “news” and all…
The Obama tards have had 2 1/2 months to get a plan ready and they have had the benefit of what the clown Paulson did as example. I watched the most recent interview of Buffett and he says that they don’t know for sure what to do or when it will end. He says he is confident that eventually the economic problems will be resolved but it will not be soon.
Well anyway, upon another leg lower, I will further reduce longs gone bad and work towards killing people again.
Enough about me. Let’s talk about you.
Red Robster ?
fly whats your target for the next leg lower? 750? 650?
Even without the aid of TA, the Fly is right more often at the most important times than he is wrong.
If I were trading, I would’ve got sucked into shit like C and MS based on that CNBC story.
I am really glad I was disenchanted this week, or I would surely been eating some cash crow.
“Please don’t call me Shirley”
Fly….thanks for confirming you would yell vulgar comments….you are predictable.
You made this statement:
“I allocated millions of dollars yesterday, based upon some end game for the banks and now I find out, while relaxing with the kids, it was just some crazy eyed story.”
Where did this money go if not in some bank related play?
You stated you allocated this money based on end game for banks…where did the money go? It is natural to assume from your statement it went into FAS or some bank stock
So just yell all you want…..
We dont hate you for heavens sake…at least most of us dont. You are the one that posted that rant….and you opened yourself up for people to make comments about it.
At any rate….the point I am making is dont make any investments solely based on THE NEWS- use your intuition.
Fly…go have a Scotch and kiss your kids goodnight.
.
all the kids are in bed already, it is past 11pm, jeez
Nikkei looking like Red Robster….-3.74% who’s got butter?
OK….just read all the comments while I was posting this one..I do listen to the news I just try and make my decisions based on more than just the news.
Yes…Fly makes a lot more money in trades than me. We all know that…no news there.
I made my point end of story.
.
What did I buy?
I am full disclosure here tootse.
I bought fxi,chl,ts,bucy,mt.
I had bank longs, BEFORE the news, based upon a hunch. I sold out of FAS, for a small gain.
When news broke, I knew it was too late to buy banks, already +30%.
The way I saw it playing out was a relief rally based upon a short term fix idea. Naturally the idea would fail. But by then I would be long gone.
Lady,
Banks lend money; to people who do other things with it. Bullishness for the banks portends good things for those who use money. It would not be a stretch to imagine Fly going long something other than a bank based on hard news re: a “bad bank”…
.
GW:
You held shorts +tbt?
Fly,
Don’t forget to heed this piece of advice from Lady G…
“At any rate….the point I am making is dont make any investments solely based on THE NEWS- use your intuition.”
Now you’ll know better next time…
Yes I did….just in case I bot a little piece of SSO today, but I’m still with SRS, EEV, SCC, TBT, DGP and 35% cash…
anyway, I still have more short than long, so end of discussion.
Now quit worrying about me and more on what CNBC is doing. They deserve to be in gaol.
Right. The next time one of my companies posts an abysmal earnings release I will ignore it as “news” and use my intuition instead.
is it possible the Government offers a two point solution: offer to buy toxic assets at an above market price and then allow any remaining assets on the books to get marked to model? Every central bank in the world is pumping money to reflate, won’t the Feds do their part, too?
Please forgive me.
We need one of those Virginia Tech nut jobs to storm CNBC studio’s screaming you guy lost all my life savings shooting blanks up all over the place.
Then they should film all the under garments of forked tongue reporting types….
Now that would be classic t.v. for some of you tree smokers
Intuition is for fags. I prefer to trade on “news” like the so-called Mustard Seed Theory “news”…
I would support leaving Gitmo open for CNBC anchors…for the greater good.
Does anyone remember this summer the SEC threat to punish any spreading rumors on the short side? I guess It’s ok as long as the rumors are bullish. I knew the game was rigged but what CNBC did is beyond criminal.
Does TBT up and Gold up mean China is selling treasuries and buying gold? I view China as the invisible hand in the market…whatever they are buying or selling they create anamolies.
Lots of people lose money listening to Cramer or listening to their stock broker or reading a newsletter or blog as well as the news. Its a crap shoot…no one is Omniscience.
Fly…dont twist my words….I said dont base your decision ENTIRELY on the news…but use other sources as well ‘ like intuition’ or charts or throw ham at people and if it sticks on them buy if it falls off of them dont buy….
whatever…..
You wrote the post, you can expect people will offer up advise or try and be helpful. Naturally tho …that help….deserves an attack and ridicule.
Sweet Dreams Gentlemen
.
GW,
Becky doesn’t wear “undergarments”…
SuperBowl,
Good for the banks, not so good for the Guv’mint.
Super bowl,
There is no model…it is all assumption of future evaluation…that is why this is a big mess…
Now if your saying they should mark to market then your forcing losses creating bankruptcies…
No way we should buy any paper above market prices….take them for what they would trade for and make the losses up with cash infusion so they can lend it out ( if your gonna do it.)
I say let ’em fry guy…..
Let the cream rise to the top…
Life imitates art:
CNBC Rumors vs Katy Perry Hot N Cold
There still has to be some kind of freakin plan yet – these morons do not have their act together, obviously. There is also the matter of mark to market – that one is big news too. So, at least two more news stories lie in store for banks. Banks are the main credit system – capitalism is based on credit. Drudge is reporting riots in Paris – break in Putin Party office in Moscow – criticism of USA by Chinese and Putin – Murdoch says it is getting worse. Taleb, the Black Swan guy, says he can’t sleep well these days – worried about another one of those damn swans, I guess.
Becky is a litlle vixen ay ?
I like Margret too….
I rethent the inthinuation that intuithon ith for fagth.
Lady,
“no one is Omniscience”
Except for the Fly, he’s Omniscience [sic]. Oh, and Obama, he’s Omniscience [sic] too. A Time Masheen will do wonders for one’s Omniscience [sic] I’m told…
The Black Swan is exponential function. AKA derivative blow up….
WTF is with NFLX? Don’t they know they can’t compete without a brick’n’mortar?
how come futures are up? You’d think they would get killed on this news….
If you want to trade against the herd, CNBC is a great place to find out what the herd is doing.
TBT and Gold up means we are fucking screwed….
Nobody believes the FED will buy treasuries to prop rates…
Gold buying reflects global fears of currency problems…
If and when currencies really crash then gold will be north of $2500
# Sir Douchebag Says:
It’s tough out there. AMZN just nailed it so all the shorts fucking loving it get reamed tomorrow but they won’t say shit.
Cocksucker of a market for sure.
January 29th, 2009 at 4:14 pm
I sold AMZN Feb 50 Calls this AM @ 4.40 – seemed like a good idea at the time. Last trade AH $51.44
GW,
I fear deflation more than inflation. If deflation is on the horizon, gold will go down along with everything else. I welcome inflation. People should be piling on the debt now. Pay it back down the road with inflated dollars.
GW-
http://i40.photobucket.com/albums/e229/pandem1c/News%205/News6/margaret1w-2.jpg
1 to 10?
Fly
If you’re the last one in NYC please make sure you turn the lights off.
NYC Budget Axe To Carve Out $1 Billion
Slew Of New Taxes On Tap, Higher Fees For Services, Plastic Bag Charge; City Workforce To Lose 23,000 Jobs
City Employees To Pay Part Of Healthcare; Pension Reform
Reporting
Mayor Michael Bloomberg was to deliver some devastating financial news to New York City residents on Jan. 30.
After sharpening his red pencils and spending long nights squeezing the treasury for every penny, Mayor Michael Bloomberg is set to tell New Yorkers on Friday that the budget for the next year will be excruciatingly painful.
Jobs will be axed, programs slashed and lots of things will cost more.
Wall Street and the spiraling out of control economy have dealt New York City a bad hand. The mayor has no trumps to play as he lays out a spending plan whose gap has grown nearly 400 percent in three months.
Shrinking tax revenues have turned the $1.3 billion November budget hole into a now-$4 billion chasm.
The only way to fix it, sources tell CBS 2 HD, is with:
* $1 billion in program cuts, affecting virtually every city agency.
* New taxes and fees, including more taxes on clothing, a fee for plastic shopping bags in grocery stores and higher fees for lots of other city services.
* The capital budget will be slashed.
* City employees will be asked to pay part of their healthcare costs.
* There will be a reduction of 23,000 jobs through layoffs and attrition. That’s more than 7 percent of the city’s employees.
Sources say expect fewer cops, firefighters and sanitation workers.
Schools Chancellor Joel Klein has already said he could be forced to eliminate 15,000 education jobs, one third by attrition. The federal stimulus package could save some of the teaching jobs.
“New York will get about $1.8 billion in education funding and that may not eliminate the need for cuts but it should make it much less severe,” Sen. Charles Schumer said.
Deputy Mayor Edward Skyler said: “The mayor is cutting agency spending as much as he can without compromising our quality of life. But in order to close the deficit without destroying the core services New Yorkers rely on, the mayor will need help from all our partners, from the municipal unions to the leadership in both the state and nation’s capital. We all have to do our part to get through these tough times.”
The mayor will lay out the rest of the bad news — yet more service cuts and fee hikes – on Friday.
I think the dog is right. This really does look like a depression.
Anyone watching this replay of (one of) the Dallas-Steeler 1970’s SuperBowls on the NFL channel?
One thing you come away with is that Lynn Swan would still be a star today, and that the defenses back then (stocked with big white dufusses) were glacial in comparison to today’s crews.
___
Oh, and fluck CNBC, as the truth will set you free.
___
What if the Fly is the perp of doomsday stock prices, tells CNBC, which creates treadmarks in the pants of the retail investor who only find solace by trolling the internet to iBankCoin. Like a topless woman in a convertible, instant fucking traffic.
To Chart addict, Margaret in my opinion is hot, I rate her a 9.
On the Bloomberg NYC situation…I guess now, NYC will go back to being a dirty shithole like in the 70-80’s
What a shame, it is very nice now with all the cleaning crews that keep it up. flowers on all street corners in the summer, central park nice, clean, even the lighting district is o.k. to mill around in….. I hope the budget cuts do not let it go down hill.
Today 00:00am
WSJ: US eyeing two part bailout for banks
– The nation”s top economic officials are discussing a more-comprehensive approach to bailing out troubled banks, in which the government would both buy a portion of banks” bad assets and offer some guarantees against future losses, in an attempt to help banks while mitigating somewhat the cost to taxpayers.
– This approach, which merges two competing ideas that have been considered, was discussed this week at a meeting that included Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke, according to people briefed on the meeting.
– Note: The emerging solution comes as the administration seeks to jolt the economy with an $819B stimulus plan and a series of additional moves designed to stem foreclosures, overhaul financial regulation and get credit flowing again.
someone please post a story here on Dennis Kneale
http://www.iamanidiot.com/
Glad I went neutral for all this shit after all. You’d think between an Obama-loving CNBC and the Obama Administration, they’d have this stuff sorted out. Alas, I’m getting the feeling nobody knows what the hell is going on.
All I know is that The Fly and some of the other Godly traders on this site saved my ass from the homo hammer of DCR last spring.
I’ve learned more from the intelligent comments on this site, which seem to be less frequent these days, than I ever have watching CNBC.
Thanks again and good trading to Fly, Danny, Alpha, GW, Shedder, Boomer and the other “old school G’s” from ibankcoin
Anything less than a 11 and you are a homo.
Trick question.
Leave’em all alone. I’m banging Rebecca Jarvis on the side. Sharp teeth leaves me with a deep Depression..
GOLD and the S&P to 600.
I see dead bulls, cows and sheeples.
I squash goldbugs.
Good nite.
DD–you’re half right. Gold can go much higher, even in a deflationary environment. Next to the dollar, I believe it’s the #2 reserve currency. As long as the rest of the world buys into the Obama fairy tale and the hope of a fix to the US banking system, the dollar will be propped up. But, eventually, truth liberates, and they will see though the Madoff methodology of egregiously printing money for stimulus ad nauseum, and will lose faith in the greenback.
I believe that’s where gold will come in to be the ultimate (and rightful) store of value. Gold’s appeal and demand does increase in uncertain times. This is especially true with people outside the US who have lived through hard times; in countries where people are not so soft and used to resting on beds of ease.
Plus, if you’ll do a little digging on the internet, you will see that gold production and the supply has been declining over time, just as this crisis has deepened. When you look at how gold is priced in all of the major currencies (except the Yen), you will see that it is hitting new highs—meaning it is stronger than the currencies, even the US Dollar. The dollar can and does strengthen in a deflationary spiral. It happened during the Depression. What we’re seeing now is gold stronger than the dollar in a deflationary environment. By definition, a store of value should maintain it’s integrity during times of inflation and deflation. And that is exactly what gold will do.
By definition it is taking more dollars, euros, francs, and pounds to buy a kilo of gold. Therefore, gold is the strongest “currency”, and will eventually be recognized as the best store of value, given your doomsday prognostication. Odd, no?
I was just kidding
Devil dog:
So how short are you then? You are short gold right?
Devil:
Gold’s $921 a recent high. I’m short on your recommendation. What do i do now?
This is funny, the dog get’s bearish on gold. In fact it’s the first time the mentions the metal from what i recall and it puts on 20 bucks in 2 hours.
People better back the fuck up before they get smacked the fuck up.
Enough with questioning FLY and what he does.
Go sniff your underware after a workout.
I believe the dog has mentioned here that storing gold, in his bunker, is part of his doomsday preperation. Food & guns too.
But if he is shorting gold to, then that dog is the rarest of tin foil hatters I’ve ever come accross.
across
Devil Dog – there is a goldbug version of you on Kitco
https://www.kitcomm.com/search.php?searchid=1579822
Exxon Could Sink the Whole Energy Complex
By Jim Cramer
RealMoney Columnist
1/29/2009 4:25 PM EST
If Exxon Mobil (XOM) is bad, will it blow up the whole market? Exxon’s so key to the S&P 500, being bigger than most sectors, now that there’s been such a decline in industrial, financial, health care and tech stocks, that a big decline in that stock could rally hammer the S&P.
Tomorrow’s report, more than the GDP, which is rearview mirror, will tell the tale, because these companies are still front and center on the mind of the market, and given that oil has been holding in right here.
I don’t like to take my cue from “the action,” but this stock has really been spot-on as a tell, and it is acting so badly that I have to believe we could be in a for a real shocker, a terrible number that would make us feel that the whole group is too high.
I like ConocoPhillips (COP) and BP (BP) because of their yields, but I can see that Schlumberger (SLB), Transocean (RIG), Chevron (CVX) and Occidental (OXY) are all too high if Exxon is bad, and the Foster-Wheeler (FWLT), Cleveland Cliffs (CLF), Peabody (BTU) contingent would also get crushed.
The oils have a funny way of controlling this market. They have shown resilience of late, which may have lulled us into thinking we are OK.
If Exxon stinks up the joint, I believe that every one of these drillers sinks badly, because the group has rallied on weak earnings and even weaker outlook, and that seems plain wrong.
Remember CNBC and other media are trying to get your to watch their program, read their newspapers ect. Spashy headlines be they truthful or not get your attention and make money for them. It doesn’t make it right or even legal perhaps, but that’s how they work and frankly have always been. I see no end to it, sorry. Invest accordingly.
Malcontents.
If you really are making multi million dollar decisions then you will also know how to read a tape and have some kind of stop loss. And when the tape says get the heck out, you should also know how to execute that. You would be above the sucker plays and amateur night that is CNBC.
I suspect that for journalistic effect, and lets face it this site is more entertainment than anything else, you are exaggerating your AUM. Having 200k in your TradeStation a/c therfore intraday Buying Power of 800k, stuck in a 3x ETF does not make you a multimillion dollar investor. It makes you a guy with 200k. Posting a snapshot of AUM (like BE did a while back) would be interesting. I guess I am correct. I love the site. Good luck.
Does Cramer read this blog? Methinks so.
I think several on CNBC read it. I heard the term “egregious” yesterday and often hear comments that seem to reflect previous discusissions from ibc. Odd, no?
Good post Picture. I agree. By the XOM will be sticking it to ya all. Enjoy
I said the bank rumor was bullshit when it came out. If a rumor is released to the public [even if it is true smart money will fade the news]. The same thing with chart patterns that are well advertised. The people that do the advertising fade the pattern. The only true thing in the market is price action. When it comes to money it is human nature that rules. How can anyone by reading tanted news think they can out smart all the suckers by reading the same news. Markets are greed at its best and always have been. So sorry.
Gold will end in tears, just like it always has every time it gets pumped.
it is just a trade.
Ironically, the XOM shorts you will probably benefit from a petroleum-based lubricant today to help ease the pain of the homo-hammer.
GDP: Is this XFML reporting already?
Who really gives a shit about the rumor mill. It’s fuckin obvious that the financial system needs an intervention to stop the enemy from taking us down. Some will profit from the resurgence of the US financials and some won’t. Plain and simple.
GDP was ecceptably bad.
The Chinese Marshall Plan
http://www.ritholtz.com/blog/2009/01/the-chinese-marshall-plan/
oods acceptably
@Paradigm….. that is true every time….except when get to the last time.
Note both XOM and CVX talked about improving refinery margins?
Anyone?
Anyone?
Buehler?
_____
“The most valuable commodity I know of is information.
Wouldn’t you agree??” (shakes head)
Turfed out the gold position in the 20’s.
I bought some dollar yen here. The BOJ has to be more aggressive. They have no choice.
S/L at around 86.50
It’s far away but if went towards that level I would be expecting the BOJ to intervene in.
For what it’s worth the GDP number was bad. However it’s nowhere near the 9th circle of hell people have been suggesting for the US economy. Expectations were around 5 to 5.5% negative.
I think this will help the US Dollar against Yen for the next few days.