Egregious zombies will bite through your cranium and suck out your gray matter, if you stay long this market into 2009. While it’s true, it is very encouraging to see the market rally today, in the face of abysmal news. However, we’ve seen this story before, haven’t we?
How does it end?
I’ll tell you. It ends with “The Fly” running you over, in his time machine, fitted with spiked wheels. That’s how!
Back to the real world:
California is just about insolvent, yet you find a reason to buy stocks. I know, I know, the fucking lines on your charts are aligned perfectly with the solar patterns in the sky. The rally shall commence, until the last bear is tossed into the high pressure cooker. I know.
But, there will be an “exogenous” event, sometime soon, that will shake you to your core. You will just sit there, dumbfounded, thinking “why didn’t I listen to Senor Tropicana”?
Oil is fucked in a very severe way. With that said, I like the reversals in NOV/RIG today. However, down below $60, oil stocks need to be sold on all rallies. Their numbers will be to die for, literally.
Look, this market is gayer than a three legged sculpture of Liberace. Use this rally to sell, else feel the spikes of my wheels.
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I disagree for all the reasons I outlined earlier, looks like Cramer stole them all from my post too. By the way I would HIGHLY advise everyone to sell FXP. That thing will be a ticker of the past soon. Its toxic.
Gap is filled. Let the ultimate BEAR raid commence. Fly, you should never underestimate the SSF. SHORT from 9/19 and ready for S&P 6 handle this month.
I don’t think the stupidity ends here. You thought people were gay-giddy over $2 gas, wait until they see $1 gas. There will be a delusionary euphoria that mixes with Obamamania and last until January.
Then we crash.
Who is this foreign hot slut on CNBC that just started being able to talk about LEH? Sounds like she has a mouth full of cock.
“Look, this market is gayer than a three legged sculpture of Liberace”
Disturbing.
yeah Ddog, you called today spot on didn’t you. That was a BIG PLUNGE taking us to NEW LOWS.
That blond on CNBC was The WORST I have ever been able to not understand. Who was she blowing to get that gig?
Soon I will re-leg into the -3xs. Primarily focusing on ERY over BGZ this round.
DevilDog, you were better off with the old routine – when you only showed up on down days to claim you were right. Since you started making more daily predictions, it has been STUNNING how wrong you have been. Even other bears are laughing at you.
I think this rally has legs for a few more days…just a few days…HUGE technical bounce; created short-covering…
“It” ends with a rip before multiple restests of the recent lows in ’09. Then, “Submission”.
This is obviously the “OJ’s going back to jail rally”…its as simple as that.
“It” ends with a rip before multiple retests of the recent lows in ’09. Followed by, “Submission”.
Just to make sure I bought quite a lot of TZA at 70. Also don’t be fooled by the CHK sell off. You will be happy on Tuesday if you bought sub 10.
Fucktards buying HIG up 99%. Fucking morons
2nd monthly decline in consumer credit since 1998, -$3.5B v $2.0B Expected. That bodes real well for consumer spending.
gay pet goat and small fry, just raised my SSF to 148. Prepare to die as all stupid cows should. How to stupid idiots like you two stay alive? Do you live at home in your parent’s basement?
reports out of redneck USA indicate that a one Mr D Dog has shot himself in the thigh whilst in the mamas got no teeth brothel …. cousin beav has succesfully removed the bullet and says d Dog will be back barking at the moon sooner than rather than later
Market Fuckery at its best
Banking coin on ERX as Fly sr pisses my inheritance away on shorts.
this guy on tv, recommending all those bullshit stocks, is a fucktard.
GY, remember what I said about 850? Money.
Moma Fly says we eat Papa Johns tonight because Popa Fly pissed away our Prime Rib dinner.
Whatever DevilDog, your ridiculous RTHs are still underwater. You haven’t posted a correct prediction in weeks. Do I need to go back and find how many times you predicted “NEW LOWS NEXT WEEK”. It’s getting old.
However, we’ve seen this story before, haven’t we?
Yes, it’s one of my favorite movies of all time.
How does it end?
You remember — you run into the middle of the trading floor after close with your trader-servant “Randolph” screaming
“Turn those fucking machines back on!!
_________
all these fuckers on CNBC deserve a bitch slap from senor tropicana
QQQQs need to bust $27~ and stick. Then kaboom. So much short there, needs to get filled. Ton of puts there too (that creates demand). Until then, uppage/sloppage. Frustrating, but thats how it is.
If XOM turns positive I am adding to my shorts
Hey PFE bounced back – we afford to get extra cheese!
Those of you that have no faith in this nonsense, what % short are you right now?
Told ya there would be breaking news…..315pm
I dunno-
Treasury “bubble” looks like it’s starting to unwind; $TNX getting all flaggy
Broke the steep downtrend line on SPY from September, and looks like we held so far
All sorts of stuff that shouldn’t is performing well – banks (incl. God’s bank, JPM and HNBC), FRO, rubber mattress supplier TPX, china, home freaking depot
-500K jobs doesn’t matter
Looks like a turning point to me
“HEAT” is on BRAVO tonight at 7pm central.
Popa – please cover those shorts before my college funds go the way JUCO
Could this rally be because of the OJ verdict?
gapping gandy…
i could not AGREE more about fxp.. besides tha fact that the invesre 2x is fucked to start with… china is showing major outperormance.. just compare a fxi chart with a spx chart
china is set to go
DDawg —
The good news is, Montana is a lovely place to take up some ranching, spend time with the kids, work on the anger management, shit, even shoot up a couple of cans on the back 40 with Browning sub.
Bad news is, we are poking through that 9/19 downtrend line.
________
Hey dickface go buy a 3mos for 0.01% or buy some highly depressed stocks like GE. Fucking no brainer. Idiots.
So you fuckers are saying that there is tax revenue lost from lower gas prices. WTF? Won’t gas consuption increase at some point?
With the same logic, let’s increase taxes.
WTF am I missing?
Any statment you make can make you a grand ASS. This market is on tilt until it goes to 7000 by the second week in Jan. 2009. I put the tree up today fuck trading.
Mondays light volume sell off was the brainless part… that flushed out the weak longs and emboldened the bears…next week we have an upside down 6 handle on the SPX… gunning for the 970 area… intrady lick up against the 1000 area….
A wise avatar once said…
Prediction leads to anchoring.
Success will come to those that trade what they are offered rather than attempting to prove to yourself you were “right”
ws,
So you might know of ‘P__-in-the-box’
I’m long that!
Ho Ho Ho! Don’t forget to leave out some milk and cookies for your dear Ol’ St. Nick now!
So you fuckers are saying that there is tax revenue lost from lower gas prices. WTF? Won’t gas consuption increase at some point?
Eggsactly. Although there’s a mathematical middle ground you’d be looking for.
If gas drops to $1 (it won’t not in Fly’s nabe), then even washing in the stuff is not going to bring back the equivalent tax receipts.
_____
whats volume like ?
Sold 550 shares of OGXI from a 3.63 avg. that I’d forgotten about @ a 7.63 stop. WHY didn’t I buy/own more? It’s a bull-dung co. that used to be SNUS. I am glad to be rid of it…and pay the cap gain.
I have a rush delivery of Brawny-size tampons and gallon jug of Summer’s Eve for a Mr. DevilDog. Can somebody sign for this?
next week we have an upside down 6 handle on the SPX…
Chortle.
AB with a funny. 😉
_____
FXP is fucking great…..down again
muahh muahh hahahahaha
Popa – please cover those shorts before my college funds go the way of JUCO
816 SPX held so far and if we break 896 then we confirm the end of WaveA down and a change in trend for a hugh WaveB move to the upside … you think good news here like an Auto Bailout will sell off after dismissing the employment #’s?
Hey you, listen quietly … HIG, PRU & MET are eating this tape but the best of the bunch that hasn’t moved yet is MFC … just saying and buying (ck for yourself).
I hereby nominate THIS quote…
“If you think we will rally off a -533,000 employment number, you’re out of your God damned mind.”
…for immediate entry into the “Epic Quote” thread !
Do I hear a second ?
Motion passed !!!
.
Lets go I am getting antsy here. Where is the big volume?
Jake doesn’t miss a beat…. your 940 fib level may well be in play early next week.
FAZ is evil
Cheaper gas = higher tax revenues. Say what you fucking want but people will drive more and go out more. I know this argument can go on and on but how can you say cheaper gas = less tax revenue and at the same time say cheaper corporate taxes = more tax revenue. Purely wrong. Yes I know you say “people have to drive” and to that I say bullshit. They don’t. They take the train. You don’t fucking think people will want to drive to work in the winter versus freezing outside waiting for the train?
Hey, look, Palin said something I agree with.
You betcha!
CHK at $10 was an early christmas.
COP at $43 ditto
ERX will print $45. I guess I have to pick up the slack for the family. Won’t mention any names.
ok now what thats a great point about anchoring and the need to be right… this game is about probabilites and your results are measured by your equity curve… everybody has to accept losing in order to win…
Volume’s down today
Can FXP just GO AWAY???
Gaps, relax.
It’s a matter of pure math, cochise.
When gas goes from $3.00 to $1.00, people do not drive 3x as much, to make up for that tax revenoo.
Not the same as with corp taxes where the denominator does not move as much.
_________
The tax loss on gas comes from the sales tax side. Most states have a tax per gallon, say 15 cents, and the sale itself is subject to the state sales tax, which is a percentage of the purchase price.
In theory, the higher the price of gas, then the more sales tax is collected.
However, higher gas prices reduce demand thus reducing the amount of revenue generated by the per gallon tax but increasing the sales tax collected.
Lower prices, though, can result in higher sales and increased revenue from the per gallon tax, but less revenue from the sales tax portion of the sale.
Where the balance is depends on each state’s tax structure.
Back in SRS at 98
Gonna break down here late day to make people think twice, me thinks, but you gotta like the upside here, as nonsensical as it may be.
I was just checking my list for the second time today and it appears Fly has made his way over to the Naughty list just under DevilDogg. How unfortunate!
Can FXP just GO AWAY??? I hope not!!!!
FXP is trying very hard to disappear into the same black hole as FAZ.
May they take proshares and mis-direxion with them, I say.
Well, I have no idea what to do here.
Ok, sold 1.5K MER from 11.25 @ 13 stop…now watch the thundering turd blow thru 13…14…15.
Many people are not “topping off” gas tanks any more, as the next fill-up will be at a yet lower price. This reduces spot consumption, as more cars are driving around with 1/2 empty tanks.
SKF been a fucking ATM machine under 120.. Just sayin..
Short this strength, short it!
Holy crap, it’s quite possible that Bela Lugosi’s dead.
_________
I was going to hit the gym today and play basketball until my knees were numb, but I fear I might actually kill somebody in my present state of mind.
Death by elbow.
At least there’s schadenfreudish (sic) comfort in knowing that OJ is having a worse day than me.
I know Jake but for the Holidays people will drive more, a lot more.
By the way I am done with FXP. Its going to zero. Money is best put elsewhere.
I’m pretty sure I laid out exactly what was going to happen today on Gio’s “Thunder Thursday” post. Feel free to refer to that as often as possible.
yeah DoucheDog, go ahead and raise your ssf to whatever.
putz
Get this — UUP off 20 cents from its’ high today.
That’s huge for a dollar ETF.
__________
Fuck it XOM just hit my entry point. I’m short XOM, that fucker
O.J. finally in jail!!!
White people riot in the stock market.
I charge $250 an hour to fix your time machine….
you nailed it devildog. gap down and get weaker all day. pound sand.
If dad comes on here after the close and tells me he made 3.4% today I will be forced to call him a liar.
here gas has gone from 1.10 a lire to .76 cents a litre… that money will be spent on stuff…. for the metrically challenged there are 4.4 Litres per gallon…spend what is in your pocket hasn’t been recinded by the recession….
LMAO at Meredith Whitney.
WFC up 35% since she tried to talk it down. Put her in the corner with Abby Cohen.
Fuck the Martians and their cookbooks and microwave deathrays.
Just bot more FAZ & FXP, both at 44.
Ain’t that a stitch?
Carter Worthless says we’ve hit bottom again
here gas has gone from 1.10 a lire to .76 cents a litre… that money will be spent on stuff…. for the metrically challenged there are 4.4 Litres per gallon…spend what is in your pocket hasn’t been rescinded by the recession….
Bought 12K of plastic clogs @ 1 and 1/4. Shorts @ 25% of float today.
What nonsense is this? HIG says ha-ha just kidding, everything is fine now, really, just fine… and the market *believes* it and rallies?
We will pay dearly for this insolence. There’s no way, shazam, the insurance companies are just fine.
Gahhh!
Long time lerker, virgin post. Anyone like LVS – its coiling and looks sready for a pop, HIG style.
I’ve stockpiled large quantities of ERY over the past 90 minutes. Can’t wait for Monday.
the market is going to crush all the shorters, then drop….
that’s a real grinder market. crush both short term bulls and short term bears.
no day traders can make money easy! That’s why Warn Buffet make more money than all the day traders. That’s a great lesson learned.
Fundamentally, the market is far from out of the woods, even the market is forward looking. I can not see the light at the end of the tunnel.
We will hit the new lows sooner or later, and see all the happy longs get raped again
Gaps, to be clear, I am not arguing with your (temporary?) bullish argument here.
But I think Fly’s point is that tax revenoos will be down across the board for fat egregious state tax hogs, and the dropping in gas prices will exacerbate that situation.
Luckily for us, this is not “Soviet Union,” and the State does not make up the predominate piece of GDP.
Yet.
______
this is where you buy FXP. Then sell it at the open Monday.
Jumped in with Junior on ERX at $31.45.
Thanks Junior, you’re doin’ yer Daddy proud.
(Sniff! Ain’t it jest touchin’ to see ’em all growed up like that?)
_______
Jake, nonetheless the gummit is continuing to expand as quickly as it can in any direction possible. Have you heard the news from the Limeys?
http://www.engadget.com/2008/10/27/uk-police-to-wield-mobile-fingerprint-scanners-facial-recogniti/
Donny buys FAZ at 44.00
Congrats to the bulls who played the right side of the trade.
However, understand the market cannot ignore this news much longer, and we will be making new lows in the future.
Jake I know your not but here is my thesis. I live in a fucking greedy tax city with an idiot mayor. I honestly saw train ridership explode on the gas price increase to $5. Now we are paying $1.89 and cars are all the new rage, and not just those cock sucking hippie cars. My point is people were not buying gas at all while the price was roaring in the city, now its like filling up at the cocaine pump. That has to be good for this 28% per gallon gay mayor. But I do see Fly’s point, its just if no one is buying the product then you make no tax revenue versus when your selling it like crack and taking a lower cut.
“anjing bau Says:
Mondays light volume sell off was the brainless part… that flushed out the weak longs and emboldened the bears…next week we have an upside down 6 handle on the SPX… gunning for the 970 area… intrady lick up against the 1000 area….”
B I N G O !!
When are you asshats gonna start BELIEVING me – you had a GENERATIONAL BOTTOM, interest rates are at a RECORD LOW, most new lows were reached Oct 10, governments are throwing money into the financial system hand over fist.
And you clowns are SHORTING!
All the other life insurers are moving up with HIG. I guess no one bothered to read what they (HIG) said. There P&C business is doing great and helping to make up for the awful life business. They also have an almost 50/50 split between life and P&C. I just shorted LNC (all life) on this insane 40% move up.
‘Bottoms’ and /cnbc hose-bags with matching bull’s blood blazers…none of these shills have a clue.
Art Hogan
Carter Worth
Bill Miller
…leaving out mustard seed douchebag perma-bulls
Just bot more FAZ & FXP, both at 44.
What??
Anton, my friend…
Do me a huge favor. Get your hands on a 90 day $SPX cabdle chart and set it to 15 minute bars.
Now, draw a line starting on the 9/19 high that the Dawg is always talking about.
Draw that line downwards through the following high points on these days –
9/25
9/26
11/04
11/28 (doesn’t actually make it there but it tried)
12/04 (same as 11/28, almost)
and keep stretching it down through today and into the future.
Now, look at where today’s candle ends. Notice anything?
_______
‘THE Bottom’ callers and /cnbc hose-bags with matching bull’s blood blazers…none of these shills have a clue:
Art Hogan
Carter Worth
Bill Miller
…leaving out mustard seed planting, tricycle-riding perma-bulls.
Donny,
You’ve been right a hell of a lot more than I have, but I’m pretty sure FAZ is cursed or haunted or some shit like that. That said, I bought quite a bit more at 44.
Anton-
I only bought 2k shares of FAZ. I know it trades like it’s on crack. I’ve been watching it all week.
Carter Worth is actually a pretty sharp guy ! imo
Not sure he should be lumped along with Bill Miller ! fwiw
.
Danny… the problem has been state regulated capital requirements and most of their problems has been a result of the annuity business linked to equity valuations that obviously weren’t properly hedged/insured. Most have raised additional capital now and have or are taking measures to hedge existing risk to the markets. This news is what really added fuel to the fire:
http://www.forbes.com/afxnewslimited/feeds/afx/2008/12/05/afx5786770.html
Re: MFC, they are Canadian based but own Boston based John Hancock … I think that is why they have has a tendency to lag behind the U S based insurers but I could be wrong.
I know the market is rigged by the government, however, they are going to push this fake shit too far one day. Anyway, you now know why I don’t day trade. Too much manipulation on the daily charts and too much range intraday without breaking the long term trend for the government to fuck with to fill the central bank’s coffers with day trader money. Still SHORT from 9/19 and holding until my intermediate target of S&P 580 – 650. Nothing the wizard can do about that without being exposed. Besides, the central banks will be position SHORT to take another chunk of “all is well” 401K money by then. Have a great weekend!
Off for some VIPER and bouncing 34D fun.
In a bull or even generally sideways market I’d love today’s action. But that’s not the case.
I personally think this about sums things up, and in a violent “Fly” kind of way:
http://www.cartoonstock.com/newscartoons/cartoonists/dbr/lowres/dbrn43l.jpg
Jake,
can you draw the same line on SPY (instead of SPX)? Just for the heck of it.
We closed above the downtrending channel once already, yet came down again. What makes you think this is it – the bottom?