Everyone thought the market was going lower; so it spiked higher. Frankly, I’m not a bit surprised and welcome a fucking huge rally, in order to redouble my shorts.
Thus far, I am looking to sell more [[LEH]] above $60.
The reversal in [[CSCO]] is very impressive, which tells me there is significant support in the low 20’s. However, the headwind of a weak CSCO will hurt many other companies who are dependent on them, such as [[NETL]] or [[BRCM]].
Being short the semiconductors, via [[SSG]], is not a bad idea.
On the long side, I like the reversal in [[RIMM]] and stubborn action of [[BWLD]]. Wouldn’t that be something if BWLD smoked numbers?
Finally, the banks have support at these levels. I would not add to [[SKF]] above $100. Let it come in.
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Romney drops out to save his finances, since he was having to dig heavily into his own pockets …. err, I mean to UNITE the REPUBLICAN PARTY !!!
yeah, thats the ticket ! Go Mittney!
He is afterall, a financial guy who knows when & how to cut his losses.
fucker is now bashing porn & blaming it for blacks & poor whites woes. what a load of #$%^
How about some NTRI? Big institutional buying over the last few weeks, short interest up to 66% of the float, and maybe biggest of all, no pre-announcement. Last qtr they warned 3 weeks before earnings. Q4 earnings due Feb 19. I’m long 2K shares with some put protection at the 25 strike.
The french shower bags used to rally on the bearded rat’s cuts. Now it’s tricky Jean rally.
Went long BWLD this morning, that makes me happy.
Furry boots, on the other hand, are destroying my DECK shorts. And that makes me unhappy.
French shower bags?
COH?
Tricky Jeans?
GES?
(just want to see if I’m getting any better at this)
Dpeez,
You’ll be okay, but don’t be afraid to take a “taste” on a big down day. Like yesterday was a third day of selling on DECK. At that point, you have to say to yourself “Okay, it’s prolly going to bounce tomorrow, so do I take some off the table here, or do I wait for the longer play?”
I took about 50% off the table yesterday afternoon, but for money management reasons only.
I firmly believe that sucker is doomed.
The french word for shower would be translated as ‘douche’.
Jean Claude Trichet is the governor of the European Central Bank. The spike an hour ago is coming off his speech, promising euro funds rate cuts.
Romney did well to step aside.. now he can make up for the damage he did at Bain by torpedoing the other side.
update.. uglys shoes is now being run at the shorts taken out yesterday.. up 6% on zero news and retail numbers this ugly.. retail up today.. because it’s set to go down hard on this morning’s numbers.
Juice, reveling in the triumph of communism.
Woo hoo!
thank the mormon god that mitt is out of the running … what a divisive dick
probably hes a nice guy … but good riddance
go Ron Paul !
is he still in it?
go anyways!
jake, this country is already communist … we have a can’t fail, bail out, everyone gets a house, thingy going
Calvin — so basically, I missed it completely.
Yeah, good thing Paul is not divisive, the loon.
Romney was the last “decent guy” in the race.
We’re freaking doomed now. Nothing left but socialists, nutbags and freaks, each of whom knows “dick-all” about the economy (with the exception of Paul who would be fine if he were not clinically insane).
Doomed.
the bulls will try to close strong
“jake, this country is already communist … we have a can’t fail, everyone gets a house, thingy going”
Sounds about right.
we’re no more doomed than we’ve been for the last decade or two
I find Paul the only sane one out there .. ok, he has a teeny tiny bit of insanity but we all walk a fine line
Yeah, I have no doubt that DECK will go down hard, but like you said Jake, I should’ve taken some of it off the table (and I did that with a couple other shorts that I have) and reload after this small bounce.
Live and learn, I guess.
Back to break-even on the Dow!
Peez, the negative thing about DECK is it’s relatively low volume, so it tends to zoom around a bit more.
Good for trading, though.
That euro rally did not last long.. tanking off the eur.jpy cross.. that’s my tell now.
“This country is already communist.”
All’s the more reason to put a guy who understands economics in the WH.
McCain’s going to “read a book” about it, at 78, or however old he is.
The other two already have a book: “The Communist Manifesto.”
‘The bulls will close strong.’
If you want to call short squeezes bullish – and I doubt that much.
Jake Prediction:
This–
Finally, the banks have support at these levels. I would not add to (SKF: 104.90 -3.13%) above $100. Let it come in.
Will soon be updated with an “I lied” Fly-date.
The last President who knew anything about economics was Ulysses Grant. He understood the law of supply and demand for cigars and whiskey.
I hope McCain’s book is the large print one.
Hey The FLY:
Enjoy the new article, fresh from print on Seeking Alpha:
http://seekingalpha.com/article/63529-investing-in-a-resource-constrained-world-part-ii
Do you play to buy PAL at double digits or triple digits?
The rally of platinum and palladium is just awesome. I do not know why any one can resist buying some palladium players PAL and SWC. I am 95% in these two stock in my 401K. Hope to retire early in two years!!!
KC —
In all seriousness, it was a ways back, but not that far back.
Calvin Coolidge. Very underrated President, knew enough to leave the fuck alone.
JJ —
Tell the truth, you’re really Sasha Baron Cohen, aren’t you?
JJ, I would assume one would have to be up on ones positions to retire, much less, retire in two years.
But, what would I know.
Silent Cal was the good kind of Prez. Seldom seen, seldom heard.
Ron Paul owns.
Bring back the days of Colonial Scrip.
Juice:
My 401K is now double what it was just 1.5 years ago. I am pretty sure it will be up a lot more in the coming months. I will have enough to retire in 2 to 3 years. The rally in PGM metals is explosive, more so in the stock of PAL and SWC.
I don’t mind at all if you wait till double digits or triple digits to buy PAL. We need some buyers at that kind of price level in the future to provide for my retirement fund.
May your stock returns yield big $$. Off to Univ. FL. for the Suntrust Gator college golf tournament.
Deutsche Bank playing accounting games – they have huge REO assets. No? Tha’s why you are paying hat size divvies? How much of a write down did you take on those. Joe? or perhaps we are still carrying them at mark to fantasy from two years ago. No wonder you are begging for the muni bonzo insurers bailout. Joe Ackermann, lying turdramp of the day.
Good luck to your boy, Caddy.
I hope you’re getting some commish for that Suntrust plug.
Fly,
Start warmin up the oatmeal. Might be time for another long walk…SKF…ouch!
“BenB”
You shouldn’t be calling yourself “BenB” but rather find the name of the Head of the Japanese Ministry of Finance.
Two words for this rally:
“dropping yen.”
Jus’ one moah time, preeze?
a few more domestic and international rate cuts and the DOW should reach 14,500 in no time.
It looks like the BOJ pawprints are on this yen rally.. they were buying in the am when it was light and there was no resistance on the chart..
You speak rike riah, Carvino!
We jus’ wan to “cally on!”
I am hearing rumors that the ISM data from the other day was botched. Anyone else catching wind of this? If so, look for a bounce to sell.
Dover:
If you mean “botched” as in, “not PPT sterilized” you might have a point there.
Botched as in it’s not so bad?
Anyways, so is it a Classic Reversal Reversal right now? Love this market.