Watching The Show

183 views

Since Tuesday, I’ve done just about nothing. I’ve saved myself embarrassing loses from dumb short positions, yet I’ve failed to take advantage of this rally. True be known, this rally is complete bullshit and I’ve been watching it with eyes of disdain. I spit on this bullshit rally and will laugh when it self destructs because of the announcement of world bankruptcy.

That said, I can’t help thinking there is something I’ve over looked. I can’t help but wonder if the market I was trading before my vacation has changed character since my return. It makes sense, yet I don’t understand why. Recessions in the EU are good for stocks? Bullshit. Was it that joint rate cut by bankrupt counties? Doubt it. Prospects of higher profits and more consumer demand? Bullshit.

Every scenario I can fathom leads me to believe this is a short term rally. The type that is just long enough to hook all the suckers. Fuck it, maybe I’m wrong. Maybe we rally in the face of world recession. It could happen and quite honestly, I’m close to jumping on the bullish bandwagon. Probably just in time for it to roll off a cliff, but who cares it’s almost 2012 anyway.

Moving forward, I’m going to continue to watch this market. I would much rather watch, then take part in this nonsense. I’m watching everything you’re watching and everything everyone else is watching. I’m watching so many stocks and potential setups on every side that if I were a mere mortal my head would explode. I’m watching the usual high flyers and all the bull trappers. I even watched Mission Impossible and it reminded me of the bears trying to play this shitty tape. I will be posting less then usual till the new year, but will be watching the show.

UPDATE: In other news, RY is defying the laws of gravity. Fucking unbelievable.

UPDATE2: Looking to short RY. I will be waiting for this topping formation to materialize before taking any position, but believe this is a good time to short. Just need to wait a bit longer.

UPDATE3: Opened a short position in RY. This is not a full position at this time.

4 Responses to “Watching The Show”

  1. Hedge funds are covering their shorts and the whole world can’t go bankrupt. Believe it or not some companies are making record profits. Regardless, Tuesday will have a different story. I’m sure the ticker will read red until the new year.

    The drop in stock prices across the board isn’t because the P/E is high, or that retirement funds are collapsing. The fear in europe is no different then Y2K. Nothing has really happened significantly yet, no ‘big banks’ have went under that weren’t under since 2009. There is blood in the water but no one knows who is bleeding. This market is good for gambling and getting good buys on 2012 bull positions.

  2. Sargent Schultz aka waterlogz

    if you want one to short look at ftk, hsy,tis

    just a few. good luck and have a Merry Christmas.

  3. Sargent Schultz aka waterlogz

    thankx… gis not tis…

Comments are closed.