Today, I heard of dedicated short sellers offering to suck their own cocks, should the market close green. You must understand the conviction of these men. Mind you, they’d be willing to suck their own dicks, in order to prove a point.
I must say, for as crazy as I am, I’d never consider such obscene arrangements. As a matter of fact, I might consider such a bet to be quite gay. Regular hot dog gobblers, these men are.
All jokes aside, today’s action bodes well for bulls, as they stared death in the eyes, then ran away like little bitches and took an alternative route higher. Many stocks were still down. However, I like the relative strength in names like National-Oilwell Varco, Inc. [[NOV]] , [[M]] and Occidental Petroleum Corporation [[OXY]] .
In hindsight, of course it would have been worthwhile to sell my [[SKF]] 17 points higher; but that’s not the point of the position. It is a hedge, not an avenue of potential profit.
As an aside, into the closing rally, I bulked up on [[ROM]] and [[EEM]] .
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CAP better be doing pilates right now.
It’s spelled fellatio.
I moonlight as an erotic writer.
Iām green and ready for the monster crash tomorrow. Have faith BEARS. The bulls are about to eat a sword BIG time. Write it down.
I guess we won’t be hearing from DevilDog until the next downtrend. Enjoy you cock sucking.
Felatio
What’s with all the eating and sucking?
I sold my DIG just before the close @ 30.10, for a 5.5% not so egregious gain. This market is completely fucktarded, and can easily crash at any point, taking along with it, your balls.
I do think DIG can expand gains tomorrow, I just fucking hate the idea of holding anything overnight.
Either they are very flexible, or they will suffer irrepairable damage from lower back pain……and their jaws might get sore.
Your humor is genius oh great one.
After trading today’s market I feel like I’ve been throught this:
http://i139.photobucket.com/albums/q284/bobhiggins/TortureRack.jpg
However, I did survive with only 1 limb lost š
I’m calling a V bottom in housing right now, Booyah!!!
I got long PVX today, .10 off the low. First discretionary trade in quite some time.
I will write nothing down.
Today I held on to my MOS. I added to my NOV and bought some DIA and UYG.
Can I get a shout out? For it was I who boldly called this reversal while we were down big.
…..Higher!
Henry, your 100 shares of MVIS doesn’t count as contributing to the rally. Sorry.
Let’s try this here: MSFT 23.6 AH…motherfucker
MSFT is such a stud, they should be up there with GOOG.
The stars are aligning for tomorrow…..
1) I am not a dedicated short seller. I was selling OTM calls on SKF SRS SMN SDS all day long while selling OTM puts on SSO and QLD. I got some ridiculous fills mind you.
2) No such thing as triple bottoms .We’re going lower .
Tell CAP I’ve got something for him.
Market Official:
You must be mistaking me for someone else.
I did buy 2000 MCD @54
and I didn’t contribute to the rally I called it!
Cubes itching to go 31+…I’m going to the gym.
Cap:
I wasn’t talking about you. I was referring to someone else who offered to suck his own cock, based upon today’s close.
CAP, no such thing as triple bottoms? WTF are you talking about. Look at the triple bottom in October 1987.
http://finance.yahoo.com/echarts?s=^GSPC#chart12:symbol=^gspc;range=19870701,19880404;indicator=sma(50,200,10)+volume;charttype=ohlc;crosshair=on;ohlcvalues=1;logscale=off
DevilDog, why is the big crash always “tomorrow”. Sorry, but today was bullish for another comfortable Friday higher, especially with a Bernanke rate cut coming in days. Lots of reasons to be bearish, but you keep calling “tomorrow” like the boy who cried wolf.
allright you little mut, get your unholy, filthy ass back down here and lick daddys balls.
EB – I can’t see that chart. I pulled up a chart of 1987 I don’t see a triple bottom.
Here’s a NYT article about previous bear markets. There are interactive, inflation adjusted charts comparing them:
http://www.nytimes.com/interactive/2008/10/11/business/20081011_BEAR_MARKETS.html?scp=1&sq=bear%20markets&st=cse
No market can resist the glorious bounce that the Bandit can provide. However, the Bandit won’t work on the RUT for some fucked up reason.
Here’s a NYT article about previous bear markets. There are interactive, inflation adjusted charts comparing them:
http://www.nytimes.com/interactive/2008/10/11/business/20081011_BEAR_MARKETS.html?scp=1&sq=bear%20markets&st=cse
1987 has nothing on this market. This is worse.
Anyone have a link to information to frame the $ needed on settlement of the WaMu CDS?
Debt o/s = approx. $40 B.
Auction today put value at 57%.
So CDS pymts = $17.2 B (43% of $40 B)
Two major unknowns:
1. What ratio of CDS out there to each $1 of debt?
2. How much collateral had to be put up to date and therefore what’s left to raise and then pay on settlement date?
This fucking CDS black box shit has GOT to come to an end. With market participants not knowing who the fuck has to pay what and when … god damn it, this is fucking America. We don’t hide this shit from people. Is it any wonder that our fucking markets are locked up? No one has any god damn idea who pays who, how much, and when.
Which jack off government official decided it was OK not to regulate this CDS market? Please, let me know … I want to KILL THAT FUCKER.
The 848 (spx) pivot held with the low at 858 today … if that holds for another day or two we should rally hard (no pun intended CAP) ….
Bot CLF today for exposure to iron ore and metallurgical coal via it’s ANR acquisition … CLF now has iron/coal ops in Australia as well as North America … fuck RIO!
Will add to FCX and MOS soon with stops or a short in UYM for a hedge.
Thanks for NOV Fly!
Agreed. Oct. 1987 was like a snoozefest compared to the volatility of this market the last few weeks.
CAP, look at the chart u linked. 3 bottoms. (1) the crash… rally then another bottom 5 days later (2) and then re-test in early December (3)
Here’s my posts that really got CAP going
Anonymous Says:
Downside momentum just isnāt there
It was there until it wasnāt
HUGE RALLY into the close!!
October 23rd, 2008 at 2:43 pm
Anonymous Says:
Huge volume out of Ultra short ETFās
Get fucking long or Die!!!!!!!
October 23rd, 2008 at 2:47 pm
CAP Says:
Anonymous Says:
Huge volume out of Ultra short ETFās
Get fucking long or Die!!!!!!!
Anon – please go all in long. 200%. Every penny that u have.
I hope you have a hot wife or mother. Call me on Monday . I will pay you $250 to bang your wife/mother so that you can have enough to pay the bills. I am a very considerate guy and do what is necessary to help my fellow Americans get by this crisis.
October 23rd, 2008 at 2:52 pm
WTF with this Lehman report about their CDO’s…?
Anyone read it?
I cannot make out that very last paragraph (poorly written, or I’m a dumbass). Was the exposure ONLY $72bn, or was their ADDITIONAL exposure toted up from older trades after BK that came to $400bn?
Vexing.
If it’s only $72 bn… well….
__
Second funniest comment of the day:
CAP: I wasnāt talking about you. I was referring to someone else who offered to suck his own cock, based upon todayās close.
It’s just going to be weird being around CAP now, after knowing what he’s done to himself.
Cap,
So if no such thing as a triple bottom (which some would argue hasn’t transpired), what mighty wisdom concerning the VIX triple top….your logic would imply the VIX has to go up from this historical level…highly illogical
Don’t knock it…violating yourself can be quite liberating…
Cap is simply stating a rule/guideline of technical analysis. “There is no such thing as a triple bottom” just means that the formation is better classified as something else.
Tim Knight was probably the one with the cocksucking. Lucky for his message board, he’ll suck it red or green today.
What if one has already eaten his rooster for lunch?
And chewed it rather than sucked it?
Finally, is auto-rooster-sucking another sign of late stage malaise?
I uploaded a video of myself right here.
Yo DEVILDOG, I had fun watching SDP. How’s your asshole feel? You coulda taken the SKF/SRS train this morning and still be green like me.
Haven’t we sucked enough out of this particular blog post and subject?
I’m wondering, with those latent “skillz” — is CAP some kind of Yogi or some schit?
I mean, can he fold himself up into a box and shit like that?
_____
Cap…that link = not cool…I should have known better.
Jake,
My understanding of that poorly written Bloomberg article is that industry “experts” had estimated $400bn in notional CDS written on Lehman debt (about 4x the value of their outstanding debt, I believe) but that DTCC says the CDS notional is only $72bn, based on what is cleared through them. DTCC also said that the net amount that changed hands on this notional $72bn was only about $6bn. DTCC is probably wrong that all or nearly all of these trades clear through them. Since the CDS market is almost entirely opaque, we’ll never know the real amounts – how much of the deleveraging last week and early this week was a result of getting liquid for Tuesday’s cash settlement can only be guessed. But as companies continue to default on debt, the CDS market will keep piling straws on the back of our financial industry camels (insurers and other protection sellers) ā ISDA will soon do CDS auctions for the three dead Icelandic banks and they won’t be the last by a long shot. CDS on all these names also appear in synthetic CDOs, which will result in writedowns on those instruments too. The CDS market mushroomed during a time of insanely low corporate defaults and its ability to withstand recession-level default rates is a big question mark.
Bennet Sedacca
03:50:14 PM
No positions in stocks mentioned.
On the other hand…
Even though I mentioned I was less bearish on SPX, the credit market remains a mess.
National Rural (NRU), a utility co-operative is in the market with a debt deal.
A1/A+.
Price talk 10 1/2%. The bar for credit costs still rising.
Yeah, Cap, shit. Sometimes I’m on this site with my little kiddies in the room.
Wait til Mrs. Fly sees that shit, you are fucked.
________
Thanks Slapshot!
__
Has anyone seen my DEVILDOG? He was supposed to be home after the street lights turned on. I am really worried…he left his pokemon cards scattered all over his room. I am really worried…do let me know if you hear from him.
Mrs DEVILDOG
Goodness I didn’t expect any of you guys to actually click that link. I posted it so that some of you guys who are apparently fantasizing about my ‘predicament’ can go enjoy yourselves there. It appears some of you have unwittingly come out of the closet today.
It’s a good thing that DDog didn’t make CAP’s promise. With 3 snarling mouths fighting for one, uh, target, it couldn’t have ended well: http://www.stratics.com/content/portals/gnh/content/guides/creatures.php
CAP, you are being a good sport. Unfortunately, I haven’t been able to tell my coworkers what I’ve been chuckling about as I read the comments.
Good God, CAP – I see now that these posts haven’t been about male poultry at all.
Trotsky used to joke about this kind of thing when he’d had too much vodka – his decision to go into “exile” makes entirely too much sense for me now.
Please excuse me while I clean off all of this vomitus from my whiskers….
Beardy out!
OK…Cramer on CNBC said there will never be a bottom, so I bought some more MOS in the 29’s today.
Potash CEO on earnings:
“The need for food is not abating.” The need for fertilizer to grow the food is not abating.
It seems MOS and POT have a little corner on the “chronic fert” to really grow things really well.
The SEC filing was not that bad after 1st reading…(p.s.: Fly please correct me if I’m wrong).
Something is amiss within this abyss (hedge fund margin calls?)
MOS will hedge these guys balls in the end.
Fly,
Any thoughts on CF while you are working MOS?
NFZ
Sell MOS and all shitty fertilizers!!
Plot to kidnap Obama uncovered
What’s all the hullabaloo about?
Fellatio bottom? Do you even glance at the bond market from time to time?
LOL! That was hilarity at its best, ‘NotJakeGint’.
LOL I didn’t fucking see the link but I checked Notable Calls a second ago and that fucking shit is great. I can’t fucking stop snorting blow and laughing, it keeps coming out of my nose. LOL. Oh god now if this fucking shitbag with the ticker MOS could just get bought, that would make my day.
Scum:
It’s an inside joke. Go check previous thread.
Finally going long hereabouts. Fly, u rook mahhvelus!
The “Die Slow” placard makes sense now, I think. :/
The commodities washout was indiscriminate.
Coal/Nat gas = only substantial domestic energy within the control of the U.S. to power basic services.
I am getting longer by the day with both. Thinking of also starting to build the Ag’s for the fear trade on food.
XOM has bollatility, i’m skeert.
I actually respect the dog. He’s put his nuts on the line and prepared the have an opinion. His only problem is that he’s trying to covert everyone.
So my guess is they are selling off fertilizer since it will soon given away free by the messiah. Oil, coal and natgas will be banned and thus the sell off to zero there.
Anyway fuck it all.
Fly there is a great show starting now on History about “Death Weapons of the East”. You might like it.
Fly, understanding the craziness of the day, I am still a bit surprised you let Greenspan get away with his clown act today. Have you lost your edge?…There was a time when you would have nailed this executive bogosity to the wall. The guy had claimed in 2001 that high grade CDOs would be comparable to treasuries in credit quality someday, holding short term rates for the first part of the decade to minimize a “natural” recession was bozo-esque. I’m not just saying this after the fact,myself and others have been on Al’s case for years. Wahington and wall street’s bullshit business models in place of sound moral common sense has about destroyed us.
Beam me up Scottie, no signs of intelligent life…
TOKYO ā A 43-year-old Japanese woman whose sudden divorce in a virtual game world made her so angry that she killed her online husband’s digital persona has been arrested on suspicion of hacking, police said Thursday.
The woman, who is jailed on suspicion of illegally accessing a computer and manipulating electronic data, used his identification and password to log onto popular interactive game “Maple Story” to carry out the virtual murder in mid-May, a police official in northern Sapporo said on condition of anonymity, citing department policy.
“I was suddenly divorced, without a word of warning. That made me so angry,” the official quoted her as telling investigators and admitting the allegations.
The woman had not plotted any revenge in the real world, the official said.
She has not yet been formally charged, but if convicted could face a prison term of up to five years or a fine up to $5,000.
Insights from Standard & Poor’s Equity Research:
We continue to see mounting technical evidence that a major market low is near as there was more unprecedented readings from a sentiment and market internal basis last week. However, the most important piece of the market forecasting puzzle is still lacking, and that is major price gains on strong volume on a more consistent basis. Clearly, there is tremendous fear about stocks, credit markets, and the economy, and there is also strong evidence that things are washed out from an internal viewpoint, but we still need to see institutions stepping up to the plate and swinging.
From a sentiment standpoint, we believe we need to see extreme levels of fear considering the horrendous news flow, and that is just what we have been witnessing. The weekly readings from Investorās Intelligence were pretty staggering: only 22.4% bulls and a whopping 52.9% bears. This is the lowest percentage of bulls since late 1988, and one of the lowest readings in the history of the data, which goes all the way back to the late 1960ās. It is also the highest percentage of bearish sentiment since December 1994, just before the market took off. The difference between bulls and bears is a staggering 30.5 percentage points favoring the bears, the most one-sided that newsletter writers have been since December 1988, which was also not a bad time to be putting funds back into stocks. Bulls divided by bears has fallen to 42%, also the lowest and most bearish since late 1988.
Fly that is the funniest wrap in the history of finance.
Someone should make Wiki entry on this Oct.23rd 08.
DB – The S&P insight is good. The issue is however, what we have seen the last few weeks is unprecedented . We would probably have to go back to the Tulip and South Sea Bubbles or perhaps to the Napoleonic wars of the 1812-15 to witness such extreme market action. So while it looks like a bottom is close at hand, we could very easily drop under 1500-2000 Dow points from here.
Dollar yen Down, Euro Yen down. Doesn’t bode well for stocks
I am voting for ….
j
You seem to have a bullish lean in general…..how do you think this plays out….Are you “All In” ala Carter Worth or do you think we have a dramatic moment, that woosh if you will?
I take it you trade for a living? Do you manage other peoples money?
Asia is getting hammered on Sony and Samsung forecasts
I manage money trading currencies , bonds and precious metals for a few people. NOT stocks.
I have a slightly bullish lean because I think the market has now gone too far in discounting the bad times. But I’m also cognizant of the fact that the currency markets are telling us there is still a lot of risk aversion particularly in Asia.
I think the asians are almost ready to capitulate and send rates down. The Japs need to go back to zero interest rate policy but as usual those stupid fuckers can’t read the market in terms of what it’s telling them.
As far as the dram goes…
We are already experiencing the drama by the huge levels of vol we are seeing.
All SDP holders: If SDP does not break through it’s triangle decisevly tomorrow on volume(doesn’t take much) then I am going to sell my entire position and take profits as all my buys are green and profits are substantial. If we don’t get a market plunge tomorrow I’m going to stay in cash until the 28th for a confirmed short term bottom and then deploy longs for a brief counter trend rally. When the rally runs it’s course my main SHORT play will again be the utility sector for the reasons I’ve mentioned. I do not expect the $UTIL to go higher than 414 at which point I will go SHORT again. It is my opinion that if the crash does not occur tomorrow or next Tuesday that the counter trend rally will not be from the intermediate bottom and will be no more than 8 to 10 trading days and we will then reverse and go to a new crash low which will finally establish an intermediate bottom for a real multi-month counter trend rally. I still believe that we have not seen the capitulation low that will form an intermediate bottom that will sustain a multi month counter trend rally of a least a 50% retracement to the 10/07 high. Without a capitulation low tomorrow or Tuesday next week risk will remain extremely high until mid November which would be my next best guess for a capitulation low. Good luck!
CAP, heres a gist of my bullish theme…The earnings for the S&P 500 are at $91 a share, keep in mind during the 3 worst recessions, we saw a 32% decline in earnings, then 24% and third worst was 22%. Lets say when this is all said and done we have the WORST recession at a 35% decline in S&P 500 earnings. With the index at 900, this gets us to a 12 – 14% P/E right now!…So you will probably say I expect worst than a 35% decline in earnings, which I will respectfully say, OK but what is the probability of a worst recession.
Does anyone know how the Ultrahort ETFs cover their counterparty risks?
I read that the advisor covered the LEH losses “To the extent any fund has losses as a result of Lehman Brothers being a counterparty, the Advisor will cover any such losses.”
How could they survive acomplete meltdown?
Too many part-timers closing out their 1 or 2 day short positions and flipping long. Exactly the wrong whipsaw move. Even more perplexing is the numbers out there trying over and over and over again to game the gold stocks who buy each and every single decline. The traders that can actually hold and sit their asses down short for more than a week gain my respect. The plunge is right around the bend and yet very few can see it. Even better in my book. Very few thick skinned players willing to stick to their guns. FTR, still flying heavy (80% short S&P from 9/19 close…trimmed 20%).
I AM long several individual issue positions for swing trades most mentioned here in pretty close to R/T. Including holding 10K shares of GCI (8.81 avg) and still have 5K of free DAL shares. Wish I had the balls and took the effort to research and buy more ‘value’/’baby bathwater’ trade plays…
Also bought 2K of MYL @ 6.36 today. Oversold, commercial paper problems but generic drugs get a boost post election.