Wednesday, August 15, 2007
Closing Comments
Sure, last night "The Fly" tried to warn you stupid fuckers of pending doom, via "The Great Depression" post, and you laughed, then ate sausages, then laughed some more.
It's all over. The market has, officially, given back all of its gains. Now, get ready to feel some serious pain, as CFC heads to bankruptcy.
I said it before, I'll say it now, the Fed needs to cut by 50 basis points, in order to "rescue" the world: fuck the lenders.
As for me, I'm over here throwing loaded dice at "hurricane plays," getting blown to smitherines in retarded stocks like GLF. This fucker is acting like a sub-prime lender. Fuck me.
On the bright side, I still have a small LAZ short position and a large SRS long. However, my longs are getting "machine gunned" so badly; my hedges are more like ornaments, than something worth talking about.
I have cash reserves and many short idea's; but for some reason, I'm waiting for a bounce.
Silly me.
The problem with waiting for a bounce, it may never come. We may go straight to 12,500, resulting in staggering losses.
If you have the luxury of cash, don't spend it yet. There will be ample opportunities to catch a bounce. It's just not here, yet.
Finally, I sold some of my yen, for symbolic reasons. I bagged a quick 5k on the trade and will now pray to the stock God's to keep the yen carry trade intact.
NOTE: TS Dean better do some serious damage, else natty will get smashed to small pieces.
NOTE II: I spoke with the CEO of MVIS and he reiterated his bullish tone, with regards to technical advances and prospects of future agreements.
It's all over. The market has, officially, given back all of its gains. Now, get ready to feel some serious pain, as CFC heads to bankruptcy.
I said it before, I'll say it now, the Fed needs to cut by 50 basis points, in order to "rescue" the world: fuck the lenders.
As for me, I'm over here throwing loaded dice at "hurricane plays," getting blown to smitherines in retarded stocks like GLF. This fucker is acting like a sub-prime lender. Fuck me.
On the bright side, I still have a small LAZ short position and a large SRS long. However, my longs are getting "machine gunned" so badly; my hedges are more like ornaments, than something worth talking about.
I have cash reserves and many short idea's; but for some reason, I'm waiting for a bounce.
Silly me.
The problem with waiting for a bounce, it may never come. We may go straight to 12,500, resulting in staggering losses.
If you have the luxury of cash, don't spend it yet. There will be ample opportunities to catch a bounce. It's just not here, yet.
Finally, I sold some of my yen, for symbolic reasons. I bagged a quick 5k on the trade and will now pray to the stock God's to keep the yen carry trade intact.
NOTE: TS Dean better do some serious damage, else natty will get smashed to small pieces.
NOTE II: I spoke with the CEO of MVIS and he reiterated his bullish tone, with regards to technical advances and prospects of future agreements.
Comments:
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Pussy sweats- thanks for the updates, re: MVIS.
I hear you'll be playing some sad violin music this evening. It should fit well with the sombre mood around this place.
I hear you'll be playing some sad violin music this evening. It should fit well with the sombre mood around this place.
Thanks Al Roker for the update on MVIS. Care to elobrate a little more. Also, what is the weather for tomorrow.
thanks.
thanks.
Everytime you put up the Golden Bull the market tanks. If you really want the market to go up I suggest you put up the Golden Bear himself-Jack Nicklaus. This will make the market rise-guaranteed.
Agreed Broker A, things are getting very attractive...but it's still too early to buy like u said. I want to see how the Dow does at the 12,700 - 12,800 support range in the event we go lower from here. If I see stabilization followed by volume backed upside, I'll be buying the likes of NUE, LTR, FCX, JEC, among others.
I'm taking a break from swimming in the gulf, and I can tell you it is hot as fuck!!!!!
If Dean gets in the Gulf, it will be a dream come true for you! However my home may be fucked! Oh well.
If Dean gets in the Gulf, it will be a dream come true for you! However my home may be fucked! Oh well.
The guy from the Union who was just on CNBC is one of the biggest idiotic political fucktards I have seen in a long time. He said we won't be able to dedend ourselves against terrorism because of private equitys low tax base. Moron. I suppose he doesn't like PE because of a lack of unionization-no?
Until today, I thought emergency rate cuts were off the table. I changed my mind after hearing Faber's report that the CP market is pricing in high probability of bankruptcy risk for CFC. That would be disasterous, given the incestuous relationships all financial firms have with one another.
I have a feeling the FED is going to hold an emergency telephonic FOMC meeting soon and surprise the markets with a big rate reduction before the end of the week.
I have a feeling the FED is going to hold an emergency telephonic FOMC meeting soon and surprise the markets with a big rate reduction before the end of the week.
Maggot-I wouldn't be surprised if we wake up to a 50% rate reduction. I was against this earlier because the FED shouldn't be in a position to keep rescuing the pigs at the hedge funds. However, the credit situation is starting to look like a deflation spiral akin to the '30s. The moron fed at that time thought they were still fighting inflation-similar to todays Fed IMO.
just spoke to a guy out here (hamptons) .. he just finished redoing his multi million $ home a stones throw from the ocean ... he's in the mortgage business, high end, super prime .. he says even he would have trouble getting a loan now .. shit has tightened up so bad, its major constipation out there ...hes had his other house on the market (in longuyland) .. has had two buyers who fell through because they couldn't sell their other homes
Bad timing. The dude obviously had no clue what was to come in the real estate market. (Probably a hedge fund manager?)
Fly,
What else did you hear from AT. Tell us some more juicy secrets. These days only MVIS talk is happiness. Everything else is depressing. Oh where is my bottle of Prozac.
What else did you hear from AT. Tell us some more juicy secrets. These days only MVIS talk is happiness. Everything else is depressing. Oh where is my bottle of Prozac.
Not a hedgie .. I'll find out where he works tomorrow .. I think a bank, not sure ... but many of these guys are so micro focused re their jobs, they haven't had to see the big picture
I can't believe those major mortgage guys haven't been salting away coin for the last three years or so... I know they've been waiting for a downturn in their market for at least five. I knew it was farked when I opened my "Top 50 Fastest Growing Firms" in my city, and some nine out of the top twenty were mortgage brokers... ruh roh!
And flick, I live in "Fly"-over country.
And flick, I live in "Fly"-over country.
Looks like the next shoe to drop is the "pseudo"-money market funds with subprime commercial paper. Oh the joy.
Stockhead-- that Sentinal story came out two days ago.
Does it have to be featured in the Daily News or something before we get full panic on it?
Does it have to be featured in the Daily News or something before we get full panic on it?
there's more news coming than Sentinel.
Sub prime is looking more like AIDS. You fuck around with the wrong people and you die.
Sub prime is looking more like AIDS. You fuck around with the wrong people and you die.
I am getting ready to drive 2 hours, to look at boxer mix puppies. That's right, I'm driving 2 hours to look at mutts. Just letting you know if it gets deep around here, why I'm not on here defending my reputation.
thank you, broker, for the obligatory "fuck me."
also, thank you for the MVIS update. i now hold a paltry 4k sub 4.80.
BOOM held up well today, actually. i bought 4k at 40.54.
lastly, if the posters on this blog have turned yellow, then i say the bottom is in. y'all are the most bullish crazies on the internets and if yous are runnin, then i am buyin. i may get scalped as a result, but scalps are overrated.
also, thank you for the MVIS update. i now hold a paltry 4k sub 4.80.
BOOM held up well today, actually. i bought 4k at 40.54.
lastly, if the posters on this blog have turned yellow, then i say the bottom is in. y'all are the most bullish crazies on the internets and if yous are runnin, then i am buyin. i may get scalped as a result, but scalps are overrated.
heavens no. however, i have been in 100% cash since 6/10, known to have brass balls, good luck, and trust my instincts. i say bounce. if not, fast sell and back to cash. except for MVIS.
Al Roker is almost an anagram of Broker A, for what it's worth.
I'm not saying it means anything at all.
-DT
I'm not saying it means anything at all.
-DT
Boomer just dropped 160k in a speculative as fuck metal play. Hope you have a stop in mind or your account might BOOM into oblivion in this volatile bear market. Are you allocating 5% of your capital or 100% nut case.
Best line if the day:
"Sub prime is looking more like AIDS. You fuck around with the wrong people and you die."
Stockhead, 2007
"Sub prime is looking more like AIDS. You fuck around with the wrong people and you die."
Stockhead, 2007
Fly, I have keen insight as to why the market has been dickin around lately. It's because you praise chartology viz., having woodshedder's name up there. Sorry Shed. You know I mean no disrespect, but that coincided when things really started to shit bricks. He won in a hanging-chad.
Thought I'd contribute to the morbidity, while shed buys inferior animals, vis-รก-vis, his childhood obsession with dalmations.
Thought I'd contribute to the morbidity, while shed buys inferior animals, vis-รก-vis, his childhood obsession with dalmations.
No Boone, it happened when Beulah realized you didn't love her just because she's fat.
And nope, didn't buy anything. Just paid for shots.
And nope, didn't buy anything. Just paid for shots.
You betted right on natural gas. But you betted wrong on GLF. Haven;t you see that I recommend NGAS? It is the only natty player that is green today!!!
Still no interest in SWC? It's holding way much better than some of the other miners like PAAS, SSRI, SLW, whathaveyou.
You did make a good call on TMA last night. How did you notice it yesterday?
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Still no interest in SWC? It's holding way much better than some of the other miners like PAAS, SSRI, SLW, whathaveyou.
You did make a good call on TMA last night. How did you notice it yesterday?
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