I realize my title could get me shot, if i were living in China. However, that is not the case. And, since I live under the protection of former Italian mafia bosses, in NYC, I have no problem saying: “Fuck China” over and over, until the goats come home.
I’m going out on a limb here, exclaiming [[FXP]] is a screaming buy—down at these levels. It is so cheap, meaning its components are so expensive, I feel like cleaning out other positions in order to load up, sub $85.
Unless we are entering some new trading range, the components of FXP should trade lower, within days, if not tomorrow.
The stocks you need to watch, when long FXP, is [[CHL]] and [[LFC]]. Both names are heavily weighted in the ETF and pretty much dictate where the fucker goes.
My chart chomping friends swear the market is going to 12,750, short term and maybe retest 13,000. I, on the other hand, believe this rally will fail, like all the others.
However, in the event that I am wrong, it makes sense to get long something. Right now, if forced to go long, I’d buy [[RIG]], [[CLX]] and [[AAPL]].
By the way, I am long all of the above stocks.
So, to sum things up, fuck China, via FXP, works here. Don’t overshoot and leverage your accounts, like some sort of degenerate OTB guy. Trade in small numbers.
UPDATE: [[FED]] cannot get a break. If this fucker can’t rally in this tape, when will it?
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Jake,
lmao. thanks
Fly starts talking shit, BAM market up 400 points.
Come on man, get bullish! Where’s that fucking golden bull?
Shit numbers from GM, prepare for market to rip higher.
The truth is out about my blogging hiatus. Before my detractors found this, I figured I’d make it public on my own.
Meanwhile, is it me or does fucking China sound painful.
-DT
I think FXP could see 75-80. I’d be patient loading that boat.
Buh buh but teh oil, it is dropping. And what if the all mighty Dollar continues its cute little bounce. 12,750 doesn’t sound too inconceivable with those trends.
The FLY:
Getting fried on your LEH shorts? I said when every one see it as an easy short you might want a contrarian view and cover it. Let it run a few days and then maybe it’s a good oppo to short LEH.
Bought PAL yet? It’s time.
I am debunking Epstein’s nonsense. Enjoy it:
http://stockology.blogspot.com/2008/03/investing-in-resource-constrained-world.html
I covered my LEH yesterday at 36, fuckface.
You should read my blog, more often.
Fly,
You still staying with SMN?
Juice:
You do not have a time machine.
Shut up, else I will have a Boston Cream donut punched into your face.
I read somewhere on the intertubes recently that Chinese authorities don’t want everyone to be poor living under bridges just prior to the Olympics, so there is speculation the government may use all the money Wal-Mart sends them for trinkets to support their market.
OK, I embellished the story a bit, but I did read a few days ago that speculation is growing that the Chinese authorities are considering buying stocks to stop the market from falling. Sort of a communist plunge protection team.
This isn’t the story I read, but it says the same thing.
http://bjtoday.ynet.com/attachment.db?30935653
Still long SMN.
Actually, SMN is my largest position.
Bring it on, I’m hungry. But till you can come up with that Boston Cream Fistwhich, I think I’ll have a bowl of Edy’s Girl Scout Thin Mint ice cream.
Something is happening on housing stocks xhb (my long hedge), did Washington already do something? Alot of activity at 26 april calls.
Major breakout at 23.00…watch out…
by the way, was anyone besides me pleasantly surprised when all your proshares dividends hit your account today? I wasn’t even paying attention to those divi’s
How much cash are you running with right now?
$TRANsvestites are now well through the 61.8% fib line at 4,951, so plan accordingly.
I’m going to wait out the end of the day… the stochs are still extremely overbought, at least short term.
the dow, r2k took out last monday’s highs. the vix broke its 200 day moving average to the downside.
Prediction: The action in Tiananmen Square (where the Chinese won’t allow live TV coverage) during the Olympics are going to make the 1936 Olympics in Berlin look like a spelling bee. Not going to look good for China like everybody thought when they were awarded the Games.
It appears the bears are getting rolled on royally.
lol
FXP is getting spanked and pelted with various dim sum entrees.
“Wha hoppen?”
Thanks for the “update” on FED, Fly… the one position that still working bearishly get’s the “Fly Touch o’ Doom” and like the magical Lucky Charms Leprechaun, get’s a second life….
Wow, this shit is truly insane. I am in awe that stocks can tack on in less than one day what it took them to lose in a week. it seems that every stock has gapped up huge and is holding the up-trend line without falter. I have been trading for a long time and this is some truly biblical level type shit.
A close above 12,600 sets the bulls up for a run to 12,800, where they will have to fight their way through heavy supply and resistance to 13,000.
We need some mojo to get this market “straight.”
Howabout some “Republican Rap?”
rig is a lock. those coke smugglers have a printing press in those platforms. they’re jacked-up alright.
‘i hate all the financials right now. you’ll get them much cheaper’ – meredith shitney, last week, cnbc
FXI has broken out of its downward trend line, with a test of the line from the upside.
Chinese stocks might just be ready for a bit of a comeback, which makes your FXP trade at these levels a little too early.
Just to preempt you, I do not have a time machine, and i am not a fuckface, I do not own SMN, and I would love a donut in the moustache … one of the pink icing ones with sprinkles on top.
“Currently we are labeling the February 1388 high as Intermediate wave A, the March 1257 low as Intermediate wave B, and this rally (should we get that uptrend) as Intermediate wave C, to conclude Major wave B. There is certainly large overhead resistance in the 1380 – 1400 area. A rally up to that level would display an inverted ABC flat for Major wave B. The bear market should resume at that point.”
rslg, What time frame are you looking at on FXP? It might or might not be near a bottom but I don’t see any breakout of a downtrend on 1, 5, 10, 60, daily or weekly. What do you see?
FXP: Not buying until the gap at 75 is filled …
SMN: Holding…
DGP: Killing me softly
DXD: Will hold at this point for the third leg down
Preparing to sell all the longs I bot last week as soon as we see 12750/1390 and will add to shorts … Fuck CNBC and their “is this the bottom” shit!
Look at a 9 month daily chart of FXI (not FXP). You will see a downtrend since November. The chart has bounced off the trendline 6 times. The final time it has broken through and now sits clearly above the trend. Looks certain to have broken out of the down trend to me.
I would put a chart up here if i knew how 🙂
But remember, I have no time machine.