Granted, I sold some of my inverse ETF’s; but for the most part, I was lit aflame today—with big dicked losses in [[FXP]] and [[EEV]].
I got greedy, betting against a country (China) that knows nothing but green. So, at the end of the day, I am humbled.
All in all, today had terrific bottoming action. If you had the stones to buy when things looked bleakest, you banked some serious coin today.
Going into earnings, I am not optimistic about the market. However, should the Fed step in or some sovereign fund throw a few billion at a beleaguered financial, the “guns of revenge” will quickly turn and fire automatic rounds at the bears.
Then again, if your time horizon is more than 2 days, it still makes sense to reduce equity exposure.
Top pick on a bounce: [[RIMM]] If you enjoy the content at iBankCoin, please follow us on Twitter
I’m an internet fucktard
Congratulations on your lesson learned. Don’t fuck with the Communists.
We’ll bounce through tomorrow, but imo, you’ve got to reduce longs & reput the shorts out there. Unless we clear SPX resistance around 1440. Unlikely, but time will tell.
I had a sell order in on EEV at 79, and just barely missed that and rode that puppy down. I guess I will decide my next move based on reaction to Alcoa.
You are all over the place, remember, no position is a position.
FlyBear–can’t say I didn’t warn you! WW wins again!
WildWestie Says:
Juju–agree we are already in recession, but a 50 bp cut will give us a pop to the upside that will be forgotten within a week. Just be careful not to start any shorts here and take some profit on the ones you have. There will be time to reload after the “to no avail†rate cut.
January 9th, 2008 at 10:54 am
Playing with FXP feels like betting against the house. The Chinese will keep their market propped up. CAF still working, it may not be too late for you to get some, even if it only gets you some small dick gains.
The George Costanza rule says that China should go up since USA went up but do the opposite and thus FXP will be up tomorrow as China goes down tonight. Ditto for gold.
Got it?
Came out of this shitmess with my head on my shoulders and no losses. REstating – the only way this bullshit bounces this hard this quick is when the mystery shopper bids futures in Chitown and the Hal the robot starts arbing the shit in new york. So buy the dip dipshits got their hit again. What pisses me off is that they think they are fuggin clever when the beartrap sprung on empty. Go the fucc ahead, catch a couple of more of your prime brokerage clients Golturd. Set them up with that recession call in the AM> Beautious. You pulled this shitgame so many times, that the bear can smell it from the other side of the woods you fuccin Elmer Fudds. China will fucc you in all kinds of clever ways, but when they die, you will eat enough to make all that pain go away. Still I cleard all the Chicom shorts startin at 3.
I am not buying this rally. I think we are somewhere around stage 2 of a bear market. More downward pressure coming with the financials reporting earnings soon. I think we will pop early and possible head lower by close manana. I would be a buyer of SKF on a pullback here.
Calvino, I think you have a lot of wise and worthy things to speak about, but honestly, I can’t understand a goddamn thing you’re saying.
No use in getting upset.
Don’t fight the tape.
Just make the adjustment.
Bank coin.
Be happy.
Wood: I understood Calvino perfectly. He said fuck Goldman Sachs and their Tradebots. Death to the Chicoms.
Don’t forget we have initial claims in the am.
thanks Don’t Forget. are you related to Guy Forget?
Here is what Calvino said in plain english ( or what I think he said)
” I got bird shit on my head but didn’t lose my pants STOP Uncle Ben and Aunt Hank with the help of a Space Alien Magician in NYC colluded to bid up futures in Chicago STOP PPT are a smart bunch of fuckers though they didn’t fool me this time round STOP Goldman Fuckin Sachs fooled us all with those recession calls this morning in a bid to get retail to sell STOP Geniuses like me don’t fall for that crap STOP
The Chinese are busy conquering San Fernando Valley and the Porn industry using their unique sex skills STOP Chinese porn stars will die of STDs STOP I covered my shorts at 3pm STOP “
say goodbye to those 7% ytd gains, fxp will re- visit the lows. Markets showing signs of bottom on my end.
Meh’s warehouse and teenie eagle whumped on the forecasts, that might make this little futures led rally a complete plate of bullshit.
CAP – exactly what I meant, thanks! LOL, LMAO.
Calvino has a way with the written word.
Now someone buy some shld in the aftermarket from me. No, not at the day’s lows darn it!!
This is the Raptor speaking:
Excellent trading markets we have at the moment. I’m up 3.2% YTD after continously betting against the pound. I believe the Fly is right in his call on oil and thus CAD and NOK will be my next “victims”.
Looking to be VERY long gamma soon – ’cause you degenerates will pump the market silly ahead of the FOMC.
Have a pleasant evening.
CAD is the only member of the G-7 running a budget surplus. Just saying.
AA beat
boom got crushed fool. $$$49.22
WTF? MVIS up in aftermarket. I guess the Fly told the truth when he said he was done selling.
I get long gamma too, fuck-faces!
AAAaaaaaarrghgghghghhg!!
(Where weakling army men?)
What the…???
Oh shit, not my clothes again!
I mean, they’re Dockers and everything, but crap… like I NEED more cut-offs?
BOOM = Basic Materials. I’m just sayin.
Shorticus, Demigod of Financia Says:
Yapping my son:
Never have I seen a “bottoming†without a “topping†in the VIX.
Or at least some spikes akin to the spear of Athena.
That little VIXen.
Where did you go? I thought you had it all figured out? Looks like you shorted 200 points ago in the DOW. How could you be so wrong?
BOT 10k BOOM sub $49. Why not?
VXN did not reverse.
Adding ROM to my UWM holding in the morning. Good for 2-4 days to close gap up above with 200 ema acting as perfect resis. Will be scaling out of uwm in the morning on a pop.
Yapping my son:
Recall the definition of “omniscient” and “omnipresent.” While only a “Demi-god” without full powers of all knowingness (“omniscience”), I’ve got a pretty good clue up through about three months into the future.
“Omnipresent” should be self-evident, and let you know that I am always here, whether you’ve been bad or good.
I shorted 600 points ago, and I will short more.
Now get home to your family before I unleash a one hundred cubit square hail of frogs into your backyard pool.