Thursday, August 16, 2007
Getting Washed Out
In order to preserve my sanity, I have been selling shit, left and right. The Philly Fed number is an ominous sign that the economy has "shit the shower." I guess recession is inevitable.
I cut down multiple positions, so that I may live to fight another day. I suspect lots of investment guru's are taking a similar approach to today's tape.
I took a stab at FCX, because it's almost dead. What the hell?
ETFC is getting its balls lit on fire. Fuck them, I hope that company files for chapter 11, today.
In short, if the planet doesn't explode, tomorrow is another day. Take it easy and try to remember that it's only green paper with funny little pictures on it. If it makes you feel better, just make your own money. Just don't try to buy anything with it.
NOTE: When I say "I'm selling shit left and right," it's hardly meaningful. I'm still long out my ears.
I cut down multiple positions, so that I may live to fight another day. I suspect lots of investment guru's are taking a similar approach to today's tape.
I took a stab at FCX, because it's almost dead. What the hell?
ETFC is getting its balls lit on fire. Fuck them, I hope that company files for chapter 11, today.
In short, if the planet doesn't explode, tomorrow is another day. Take it easy and try to remember that it's only green paper with funny little pictures on it. If it makes you feel better, just make your own money. Just don't try to buy anything with it.
NOTE: When I say "I'm selling shit left and right," it's hardly meaningful. I'm still long out my ears.
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Russell 2000 futures are being screwed with so IWM is a good trade in and out. I suppose the FED is looking to collapse the banking system.
Damn I am buying here myself. Goldman under 160 hell yeah. NDAQ in the 28's, come on look at the trading volumes. XTO at 50 with a hurricane bearing down. Sorry but I am panicing because I can't hit the bid fast enough.
Special Note: Should we go under 12k I may have to locate a new line of work or new soup line.
Special Note: Should we go under 12k I may have to locate a new line of work or new soup line.
# posted by 
: 12:29 PM
: 12:29 PM
its all deleveraging ... funds of funds lever up 3 to 1 and spread their money out to hedgies who lever up 3 to 1 ... layers & layers of leverage .. this kind of money will not find its way back into the market ... bear market is here for a while ... trade accordingly or get another source of income
is the calculator brain out for repairs? I do remember you said quite a few months ago that you were going to short into the summer...seems all of those ribeyes clogged your plans, and you ummm forgot?
"So if everyone is liquidating, selling equities, and everything else, where does all the money go?"
Into a black hole.
Into a black hole.
Henry Paulson, Goldman Sachs, Every Talking Head, CNBC - George Fucking W
Wall Street - Ben Bernake (sp?) - don't you think Alan Greenspan has a smile on his face (of Course he will always be to blame - whenever anything goes wrong - Blame it on a the closest JEW! They ought to put Dick Chaney - the crook - in jail.
Well, I have just come back from Costco - with my Daughter - who saw that my screen had big green numbers and decided to take the dad shopping - it always makes me feel good to see my children happy!
An easy profitable day for otr- you see I quit ahead at 10:30.
Cashing out longs today is like taking out discounted dollars - mind you FXY is up 3% talk about discounted dollars....
Wall Street - Ben Bernake (sp?) - don't you think Alan Greenspan has a smile on his face (of Course he will always be to blame - whenever anything goes wrong - Blame it on a the closest JEW! They ought to put Dick Chaney - the crook - in jail.
Well, I have just come back from Costco - with my Daughter - who saw that my screen had big green numbers and decided to take the dad shopping - it always makes me feel good to see my children happy!
An easy profitable day for otr- you see I quit ahead at 10:30.
Cashing out longs today is like taking out discounted dollars - mind you FXY is up 3% talk about discounted dollars....
So I leave no doubt - alan greenspan is one of my all time favorite people
As for Cramer - anyone can be right in a rising market! I think I will watch him this afternoon (I never watch him except on extra ordinary days - I wonder how his charitable trust is doing.
If Rimm closes 20 more points down the gap will be filled for those of you who took my advise this AM
As for Cramer - anyone can be right in a rising market! I think I will watch him this afternoon (I never watch him except on extra ordinary days - I wonder how his charitable trust is doing.
If Rimm closes 20 more points down the gap will be filled for those of you who took my advise this AM
Somebody go wake up the FED and tell them the economy and the banking system is in trouble. Herbert Hoover for President.
One of two lonely greens on my watch list - Boston Beer.
The drinking will start early this weekend. About noon on Thursday.
The drinking will start early this weekend. About noon on Thursday.
i've sold everything. decent gains, but etrade is fucked.
power etrade pro locked up, they froze my margin (i had nonthing on margin, but they froze it anyway), the made a systematic trading error (fortunately in my favor), i can;t get my cash to move in or out...
they are acting like insolvancy is coming. this is bad. i have a lot of money with etrade.
anyone know how the insurance works on a brokerage account? i have 7 figures with etfc. feeling a little uneasy.
power etrade pro locked up, they froze my margin (i had nonthing on margin, but they froze it anyway), the made a systematic trading error (fortunately in my favor), i can;t get my cash to move in or out...
they are acting like insolvancy is coming. this is bad. i have a lot of money with etrade.
anyone know how the insurance works on a brokerage account? i have 7 figures with etfc. feeling a little uneasy.
Keep selling fuckers I am going to continue buying here. Then again I have ingested some calm me down medicine to keep a straight head and play book that could affect my judgement. I don't see a problem with buying the panic here and believe me it is panic. Talking to my friend at one of the biggest hedge funds and they are blowing out of positions at the pointed stick of their risk managers. These dick skin hat fuckers are jumping around like they are on meth today. I will collect their panic as much as I can afford to and then lever up as well.
# posted by : 1:04 PM
: 1:04 PM
Watch C and SMH-they stopped going down when the rest of market gets trashed. Could be leaders in a rebound.
Boom-- I don't think E-trade is in the Frat club for bailouts.
It's not FDIC so its insured through a private company I think its called
http://www.sipc.org/.
It's not FDIC so its insured through a private company I think its called
http://www.sipc.org/.
I'm young, and this is fucking interesting. I feel like I am seeing something historic. Am I slowly watching armageddon happen here? When I get home, my house will be on fire and there will be a Chinaman with a crowbar stealing the $7 I have in my gun safe. A $5 and 2 $1's. Also, downtown Houston is flooding. It is madness. Everytime it rains in Houston, people act like they've never seen rain before. "I think my car can make it across"
"What is this? rain? This shit is new to me, I'll go drive around town, check it out."
Dean is next, I wonder if it will rain when it comes?
The guy that just delivered our Thai food said he didn't even know the Dow was down, he's got balls, he didn't even give a shit. "Dow?"
"What is this? rain? This shit is new to me, I'll go drive around town, check it out."
Dean is next, I wonder if it will rain when it comes?
The guy that just delivered our Thai food said he didn't even know the Dow was down, he's got balls, he didn't even give a shit. "Dow?"
Schwab won't allow customers to log into its web site!!
! This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call Schwab at 1-800-435-4000. (-9)
FUCK SCHWAB!! Hope my cash position in money markets isn't fucked too.
! This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call Schwab at 1-800-435-4000. (-9)
FUCK SCHWAB!! Hope my cash position in money markets isn't fucked too.
No one should be gloating in a shit market like this. If you have a gain in anything--congrats.
Keep it to yourself, unless your name is The Fly.
Keeps it fun.
Fly is God.
Keep it to yourself, unless your name is The Fly.
Keeps it fun.
Fly is God.
Well I think it is time for me to bring out my Golden Monkey. Unlike Broker's gay golden bull this fucker really works and is based on Asian traditions, not Indian pee treatments. Behold the savior of the day:
http://www.150.si.edu/images/12monky.jpg
http://www.150.si.edu/images/12monky.jpg
# posted by : 1:16 PM
: 1:16 PM
You youngsters need to multiply the losses by 15X and that is what happened on 10/19/87. This is a walk in the park so far.
Al Sharpton Elected President!
That's the only way my day gets worse. I want my money. I want to roll around in it. I want to thank the heavens that I did not get scalped, but rather was rewarded for going great guns this AM.
I am afraid the heavens might make me file a claim to collect against an insolvent etrade.
That's the only way my day gets worse. I want my money. I want to roll around in it. I want to thank the heavens that I did not get scalped, but rather was rewarded for going great guns this AM.
I am afraid the heavens might make me file a claim to collect against an insolvent etrade.
Broker A said... Road--
You sound like Ducati.
Old fucker.
Fly - I'm very sensitive - I do not know of Ducati - I skip many posts here - but I get your drift - so
I want to thank you for letting me visit here and I wish you all well.
I am going the way of woodshedder
adios mis amigos
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You sound like Ducati.
Old fucker.
Fly - I'm very sensitive - I do not know of Ducati - I skip many posts here - but I get your drift - so
I want to thank you for letting me visit here and I wish you all well.
I am going the way of woodshedder
adios mis amigos
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