As you know, today is the last trading day of the 2nd quarter. Everyone who publishes investment literature is scrambling to make believe they knew what the fuck they were doing for the past 3 months, via selling the losers and buying the winners. This way, when Joe “low IQ” Investor looks for a safe place to park his capital, he will find all of the latest winners in Mr. Window Dresser’s mutual fund packet.
Egregious to say the least.
The problem these loosers [sic] are having is the lack of available dresses for their filthy fund windows. Meaning: aside from energy and ag, there aren’t many winners this quarter. Furthermore, many of these managers are deathly afraid of top ticking the commodity names.
Look for “value” plays in the commodity sector to catch fire, especially in energy. Think [[FTK]].
During the quarter, old winners became new losers, such as [[RIMM]], [[GME]], [[NKE]], [[CMG]] and [[CTRP]].
The patina was rubbed off the Chinese sector, revealing a coat of shit. The chi-coms have been the biggest losers of 2008, thus far. Expect to see further upside in the fortunes of [[FXP]].
Also, old losers in the energy space took off. One name that comes to mind is [[GMXR]]. “The Fly” had a monstrous position in the name, several times, only to get shaken out, like a martini, near the lows.
That’s life.
One sector that has been robust is the industrials. You know, the fuckers who help build roads and power plants. I suspect, sometime soon, budget short falls will wreck them.
I may start betting against [[FWLT]], [[FLR]], [[ABB]], [[TEX]], [[ITW]], [[ETN]], [[CAT]] and [[VMC]].
Finally, anticipate numerous regional banks/asset managers/brokerages to close their doors in late 2008, early 2009. I intend to bet against [[PACW]], [[BBT]], [[CSE]], [[FMBI]], [[WFSL]], [[TCB]], [[LEH]], [[MER]], [[SUSQ]], [[PZN]] amongst many others, in the most unremitting fashion.
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Good thing those fuckers dressed up the stock pile of puts I own on HRB.
There’s a winner worth owning.
End of world window dressing.
See you at Armageddon goat shmokers.
Degenerate option gambler.
OA, I just can’t trust those HRB results. I still think there’s a rat hiding somewhere under that polyester print dress.
SUSQuahanna ASShat Company!
SUSQuahanna ASSHAT Company!
(Pow! Smack! Defenistrate!)
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DJIA to 11000 end of the week.
Here’s another coming straight to you from my “due diligence trip” (/drunken bachanaal) in Pasadena (home of everyone’s favorite short, Indymac!):
Union Bank of California. (UB) — it will not go below $40 one more time without egregiousity unto them and theirs.
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oh crap – we’ve got a crazy australian on erin burnett’s show.
i think names like FWLT and FLR may have topped out and could be good range-trading stocks.
Far sighted, goat fucking stock picker.
I do believe you requested credit for this one, no?
Just flashed on CNBC screen: “Time for a Rally in Financials?” Those f’ers never stop with the BS.
OK then- Off to a foreclosure auction. How’s that for fuckin bullish.
Fuck I just bought some tips. They formed a long term cup and handle. Any thing abouve 107 is a break out area.
Me buying Bonds is like Iverson going to pratice. I hate bear markets!!
Jakey, if you don’t like UB, why are you particular to PCBC? Tomorrow Onishi Takajiro will report the results of the Imperial Soldiers actions in Saipan. As you know, it will not be pretty, though they will do their utmost to bomb the industrial base of the filthy Yankees. Consequently, yen will flow in the overnight in a bombing raid on our industrial plant. This may play with tomorrow’s baad construction and manufacturing numbers. They could lie and say that Detroit and Boeing are doing great of course and that the highly paid union employees are oredering tens of thousands of custom built homes. This should be enough to undermine Takajiro’s efforts and inclines me to leave the short positions overnight. If the buck gets beat down in the overnight, that much stronger the reasons.
http://www.minyanville.com/articles/MER-C-jpm-Fed-LEH-ms/index/a/17799
Add ZION & PRU to your short with impunity list.
Calvin —
Not sure what you mean about PCBC, which I have not mentioned, but sounds like something nasty GE dumped into the river decades back.
Short that too, if you like, as if it’s Californication, you cannot loose (sic).
I like UB because it is very joozy here at these prices.
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Covered PCLN @ 116
HRB wasn’t an earnings play.. give it time to “ripen”. They’re just playing “good news/bad news”, with phase 1 completed before EOQ.
Friends, did anyone notice the v spike in eur/jpy at one fifty. Then out of the blue, at two, the volume spikes on the diamonds, the spiders and the q’s – and up they go off the v bottom. Your tax dollars hard at work.
Just a reminder: Buy Banks !
I have been wrong since SKF 125, and I will be wrong at SKF 200.