I am running screens of stocks with high cash levels, no debt, who have been punched in the family jewels. I cannot believe [[REW]] is over $105. The carnage is somewhat mind numbing and would be depressing, if I didn’t have ridiculously sized short positions.
There are so many stocks worth bottom fishing. But, it makes more sense to short cut the research and get long 200% upside etf’s, like [[UYM]] , [[ROM]] and [[UYG]] .
I have a lot of cash right now. I sold out of half my [[SRS]] position, north of $109, and want to get long.
But, considering the downward momentum, I deem it to be too dangerous to buy here. We are likely to “enjoy” another gap lower tomorrow.
So, in short, I am long [[SRS]] , [[SKF]] , [[REW]] , [[FXP]] , [[EEV]] , [[SSG]] , [[TWM]] ; but will look to buy the death, sometime soon.
[youtube:http://www.youtube.com/watch?v=s27Oq5ot0ZI 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
We don’t halt markets in the free world; you think this is Commie Russia or something?
I want to watch Dick Fuld and Bill Ackerman fight each other near a stairwell.
I wish I could embed Tom Petty “Free Falling”
John Mayer’s version is great too:
http://www.youtube.com/watch?v=uNW8q-Ucz18
They should hire Erin Burnett!
“We’re up off the lows!”
Ugh…as much as I like MarketWatch, I cannot stand their size 125 font headlines of WORLDWIDE WRECKAGE!!!!!! lolomgstfu, we’re ALL GOING TO DIEEEEEE!
Feed the fear.
That Peter Costa guy has to have lost a fortune. He was bullish 3000 points ago. Too bad, seems like a decent guy.
Rev Shark
Doug Kass’ Query
10/6/2008 1:46 PM EDT
Doug I’m the most optimistic I’ve been in a long time about the possibility that a good tradable low may be near. Not only do we have some positive seasonality kicking in during the middle weeks of October as you note but we have all sorts of indicators hitting extreme levels and some of the most negative sentiment we have seen all year. I’m not seeing anyone calling for a bottom now.
It is not my style to try to catch the exact market low but I do think that this may be the leg down that gives us some support for an end of the year bounce. I’ve actually made a couple buys today and am much more interested in refining a ‘buy list’ I’m still holding very high levels of cash but I’m getting excited about the chance for some long side action.
61.8 retracement on QQQQ’s
Fuck you all, I want to see this bitch tank. No breaks for you!
Well, is it really that much of a surprise?
We only get one more choice on the ballot in this two party dictatorship than communist Russia.
You know how in the cold war we were said to be at war to “prevent the communists from taking over the world? What do you think their government told their people?”
They were told they have to stop the capitalist imperialists from taking over the world.
“They [the US] are a superpower of Al Capones.”
Whaddaya know. Baghdad Bob had a time machine, too.
best video ever.
Pfft, keep waiting for the halt, no halts after 2:30.
SMN at $80…UGH…I sold it at 33, 6 months ago…Ohh Gowd, the pain…
Buy FCX under $35?
Blah:
Wrong
Your statement is applicable only for a level 1 halt
http://rockcreekfreepress.tumblr.com/post/35321150/navy-releases-mccains-records
The Navy released John McCain’s military record after a Freedom of Information Act request from the Associated Press. The record is packed with information on McCain’s medals and commendations but little else. The one thing that the McCain campaign does not want to see released is the record of McCain’s antics on board the USS Forestal in 1967. McCain was personally responsible for the deadliest fire in the history of the US Navy. That catastrophe, with 27 dead and over 100 wounded trumps McCain’s record as a prisoner of war in North Vietnam.
The convertible arbitrage strategy has been destroyed since the short selling ban (down like 25% YTD). Convert arb funds are going to see massive redemptions and they’re killing the convertible market.
A closed end fund, AGC, invests in converts. It’s trading at a 35% discount to Friday’s NAV and yields 18%. Unreal.
Gotta be something like 90% bears among advisors. PPT (the one involving the FED and not Fly) is meeting right now in a basement somewhere near Georgetown.
I nibbled a little DIA at about 96.10 for a swing trade (I rarely hold overnight) while watching the live scoring of my son’s tournament at The Colonial CC in Memphis.
Let’s get political needs to remove the debunked fantasies and post them on his own ass with a dirty tattoo needle.
How ’bout a late day rally?
Hedge funds going out of business eventually will be a net positive. Many are a bunch of wild ass gunslingers riding the elevator up at the same time and then trying to get out of the door at the same time like The Three Stooges.
Closed End Fund madness!!
Take a gander at PSY, JQC, HPI, JPS.
Keep in mind these assholes are using leverage, so there may be some margin calls soon and therefore a distribution cut, and they largely own preferred stocks, issued by some of the most plagued industries out there (airlines, auto, banks). Just a thought, seems to me there’s a decent chance to get NAV gains and you’re being paid egregiously to sit around and wait.
Any closed ends have a much larger than usual discount?
rails are green take a peek at BNI
V and MA moonshotting!
V and MA moonshotting!
My buys are kicking in now, fuckers!
I’m not up 13% like the Fly, but eye’s up after pulling in shorts & getting long The Pope’s cursed equities.
Well looks like its time to reload the shorts, fucking idiots did not capitulate again. You fucking people are going to give me a heart attack soon.
UNTD = 0 debt/equity, 10% short ratio
BEBE = 0 debt/equity, 17% short ratio
others with worse charts = COLM, CONN, KNOT (all +22% short)
If they close em hard and heavy do you want to get long into turnaround tuesday?
I will rip this downmove’s face off.
I bought 5 double short ETFs and sold 3 for a small piker profit – I hold the remaining 2 just in case more carnage in the morning per Fly. Commods are back where they were one year ago – Heeheeheeheehee.
Looks like someone was listening to me
UNTD = top pick
POOF! YOUR BULLSHIT BEAR RAID IS GONE!
That KRE etf is a barn burner. The mid-sized regionals are going to be major winners when the dust settles.
The Cramer bottom is in.
Someone must have some news on that G8 meeting in Paris.
Austin? Anyone for $149 oil by the end of the year per Goldman Sachs? Heheheheheheheee.
Spaceman alien magician buys at 3:00
SSO, QLD, UWM.
All for Mom, of course, the lucky girl.
Then I had a conference call to 3:30, and was lucky enough to buy all the above shit $2.50 and more higher.
Fuck me.
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Still not to late to short EEV. Get it while it’s hot!
AAPL is one strong horse! Its green.
unable to borrow shares of EEV through e trade
TRV, ALL and HIG all finished in the green.
JMHO, these fuckers will explode to the upside soon.
Fuck Charlie, I did not get a chance to short EEV either.
fuck me twice.
Tomorrow I will buy the long bullshit Emerging market ETF. (EEM?)
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Donny, your opinion is anything but humble.
But that’s why we love you, fucker! 😉
_____
Fly’s neighbor Steve was in my neighborhood begging – says his home is down 25% in value and his taxes up. I told him to knock on Fly’s door.
That catastrophe, with 27 dead and over 100 wounded trumps McCain’s record as a prisoner of war in North Vietnam.
What’d he do there? Rambo out and kill 28 more?
Here’s a hint from someone who’s not a friend. Learn the definitions of the words you employ before using them.
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