Shout out to the neocons who spit on dollars. Apparently, the dollar is going down the sewer drain, again. If so, I do not view this as an opportunity to go long commodities, just gold. In my opinion, gold can sprint higher on dollar death, while oil and corn will suck wind, thanks to demand destruction.
$19.95 + S&H
WTF? Gold is for Angelo’s
Fly,
Thanks for the tip. How would you play this, GLD?
Is DIG dead? MOS and NOV are my other positions…
yeah i’ve been feeling like it’s the beginning of 2008 all over again, as well.
you know — gold is skyrocketing and that asia is decoupling. what the hell is this shit?
Fly
Don’t be too sure this doesn’t translate back into the commods. If its a reflation trade it’s a reflation trade. This really fuck the Feds intentions I think as a weak dollar although desired may turn into a trashed dollar which is what they don’t want.
SKF to the MOON!
The Fly is back to being old man the bearshitter … it harks back to early ’08 when he was up 40% in 3 weeks
good times
FAZ to MARS!
gold is like sex, the more you have of it, the better you feel… But if you have too much to fast, you’ll end up sore.
http://www.bloomberg.com/apps/news?pid=20601068&sid=aPJaeEa4m6U0&refer=home
Dollar is about to skyrocket! Longs are fucked!
What is the $ going down against … the yen, ok. How about the Euro, Cable, Aussie – those currencies are as much in the shitter as the $.
Jobless-
There is more to come of that front. January’s numbers will be terrible. as some companies have a little pity and do not want to cut people loose before the holiday.
Dollar is down a little against the Euro. Euro is up a little against the pound.
Gold is destined to go higher. Every currency is designed to inflate exponentially. money is created and in order to keep the system going, more money has to be created so everyone can pay interest on that money.
US increases money supply 15% every year lately… eventually that adds up. The world was in deflation as China hiked rates to slow growth. Now they’re stimulating to get things going.
Wow
Gold is fucking retarded.
Oil has more value then gold.
Fly,
I like my coffee black and over cooked.
We call it “cowboy” coffee.
Thick as molasses.
Spitzer in and out long SMH.
Fuck my NASDAQ quotes are down on my system
Lower dollar helping oil, oils are the only thing allowing this market to hold on. If money flow changes course from going into commodities then comes the crash
LOL @ Algae Jackets at Lululemon.
small change in gold spot, but check out the crazy rise in implied volatility this morning on gld options
SKF to 200 soon. The financials are once again sucking wind. C going back down to $5 and GS to $50. Buy SKF or short select financials and be rewarded
Fly,
Oil and the dollar are directly linked. Dollar goes down…oil goes up…simple…make a note of it.
TBP
Moe
If the dollar is lower because of reflation and it looks like it is because Euro/Yen is holding nicely (and Aussie yen to a lesser degree) stocks are going up.
————-
NYC currency buddies are saying there is a monster barrier option at 1.33 which is being protected at the moment. if that goes which it will- if not today then in a few days time it’s straight up.
Large government types trade barrier option as a form of income gathering exercise. Pretty fucking stupid but there you have it.
Fly I thought you kept saying “gold is a suckers joke?”
Are you buying?
ANother low volume day on the horizon. Some economic news tomorrow(retail sales, PPI, CPI etc.) along with a full moon for you celestial believing motherfuckers may bring more volume
Done for the AM. Thanx SMH. Will be back to trade the 2:15 PM crapola.
Aussie dollar is a huge marker for global liquidity conditions, if that’s going up against the buck as it is now, stocks are heading higher.
Nothing can stop TM, it is a force of nature.
I like TBT long right here on the death of the dollar.
The stock market looks like it will be holding steady for a few more weeks at least and TLT is extremely overbought.
If the Chinese are behind this run in gold (reallocating their reserves into the metal, the odds are that they’re going to be selling into this treasury strength).
In a little TZA. Longs are fucked!
AGU ripping higher
Phil
The Chinese are fucked. They can’t yet turn their reserves until they swing the economy around to increasing domestic demand. Until they can do that their head is in a dollar vice, because if they trash the dollar by buying gold they trash their holdings and they put their economy more in slide.
They can’t change a thing and will continue supporting the dollar until they see domestic demand rise materially. The only thing they can do is sit, watch and bite their fingernails wondering when they should start buying the US stock market to get out of bonds.
I agree, SKF is gonna rock and roll here. Financials are up too much this month. SKF should hit $150 in the next week.
I do believe a pound of Idaho baked potatoes is now cheaper than a share of MU (Micron from Idaho) stock.
that guy on cnbc has spock ears
Anyone here in DXO?
This is the freakiest frikkin’ market I’ve ever seen. First the Q’s are up, everything else down, now it is just the opposite.
Once again terrible job numbers and market that shrugs it off early in the day. How long can this continue in the face of more bad news. I realize the market is a forward indicator, but looking forward I don’t see any good news coming down the pipe. Do people really think that Obama has a magic wand?
Im in there with ya DXO since yesterday and waiting for it to double up.
I would never buy a stock because it “looks” like it is up or down “too” much. This is a prescription for financial disaster. The cheap keep getting cheaper and the expensive keep getting expensive.
Trade what you see and not what you believe.
Bought more DXO this morning pre-market. Liked the volume yesterday and today looks like more of the same.
J,
I disagree with you. I think this is the perfect opportunity for the Chinese to divest away from Treasuries. With mammoth global demand for Treasuries right now, there will be no problem “selling into strength” here and having ample buyers to absorb that selling pressure. China’s Treasury holdings will eventually be worthless. They have 2 options:
1) Sell now, with plenty of buyers to offload to.
2) Sell later into weakness and cause major dislocations in the bond and currency market.
The Chinese are very savvy. I believe they are selling now into strength. Gold is my indicator.
Good luck with your trades.
-Phil
Fly: Serious question for you. If you believe oil/gas will fall or things will continue to slow why not buy DUG here? DUG is trading near its low, which I find to be very suspect considering where we are. Can you explain why the fuck this is? I believe these ETFs have a lot of fuckery going on with them.
I agree with Phil. The Chinese are very savvy indeed. They understood how to take down the US, and have one last move to complete it. That is selling their ownership in the failing US Treasury. They must be selling their holdings during this ridiculous run-up in treasuries. Everything is pointing that way.
There will still be headfakes, but this looks like an end-game strategy for them to avoid being taken down with US.
Phil, Shorty.
They’re prisoners, which is why i said they have their head caught in a vice. They have around $1 trillion worth of bonds. Try and find a bid for that without wrecking the US bond market and forcing their paper down to about 30% of its value. You can’t even begin to sell that shit without the market catching a whiff sending bond prices down the toilet, sinking the US economy further and bringing their down with it.
Nope, that’s a 20 year trade.
“Neocons” is so Bushie. We now have “neolibs”.
Phil – Good call. I’ve been watching TBT, and just bought @ 42.90. To be simplistic about it… sell greed and buy fear.
J:
I am not saying they are selling everything. They are lightening up in as large a way as possible. This will take a long time to play out, and will most likely end up in a war when we wake up one day and realize we have been duped.
China is not in as bad a shape as the US. Not even close. It will take some time, but in the end, the US is a third world country, and China is first world.
Return of the Dead Dollar? I’m sure “the Zombie” will agree that Romero’s origional “Night of the Living Amero” is far scarier.
J: chinese can use not only spot market to sell bonds … they can use options and futures market and then deliver in paper … that market is huge enough to suck up big loads of bonds …
Well at least when Obama speaks there is a 50% chance the market moves up, which is more than W. can say.
About China. Number one, “j” is correct. Number two, if they “tank” the US, they are completely and utterly screwed; who will be the next consumer import juggernaut to purchase all of their poorly made toxic crap?
The game at hand is to print as much money as we can while understanding inflation statistics so that the money we pay them back with is worth significantly less than it was when we borrowed it. Or, as it was once written, “Kill with a borrowed knife.”
wass the difference btween SKF n FAZ, please? thanks,
SKF’s record high price is roughly double what its current price is, while FAZ’s is triple.
j is it time to buy TBT?
BTW…calling Anton “ants” is the most homosexual thing I’ve ever read on this site.
SLW ..ShamWow!
The president elect of USA is an incredibly good bullshit artist
Jeff Macke
11:15:00 AM
No positions in stocks mentioned.
It’s Quicky
Greetings from New York where Mrs. Jeffmacke and I are going to be heading for our first parent-teacher conference in an hour or so. I’m not sure what the teacher wants to talk about but item #1 on my personal agenda is a report that some punk kid tried to kiss her the other day. “Cute”? “Innocent”? “Chaste”? That’s exactly what Courtney Love’s parents said when she was 6. These things have to nipped in the bud and I’m a pair of scissors. Unless this teacher can put a leash on this would-be Lothario there could be an “accident” of some sort brewing. One involving the trunk of my car and an Uncle Buck style 3-wood.
Here’s what I’m doing when not muscling kindergarten teachers and 6 year olds:
* I’m gone Daddy, gone from a very short term, short the news (that wasn’t actually news) regarding the auto bailout. Played it via the SDS ETF and, not to brag or anything but I made almost 6-bits per share. The tape is hangin’ tough in the face of simply atrocious news. That leaves me long stuff I don’t consider “trades” (Wal-Mart (WMT) and a couple others) and looking for good stuff on cable.
* Has anyone (other than Todd-O) actually watched Uncle Buck lately? Forget Michael Jackson, the real horrifying influence on Macauley Calkin was the late (and admittedly great) John Candy.
* The rally continues in gold, coal and the like. Linked to the dollar? Organic? Pent up demand? I’ll go with “some of all of the above”. Feels late to play long and certainly early to fight the rally. As our resident Uncle Buck enthusiast and others have noticed, the dollar ripping coincided rather tightly with stocks crumbling. I’m out of the dollar and, gun to head and if I weren’t retired for the year I’d be bullish for a trade… Pretty much with the rest of the world.
* When does the rally end? About the time we realize you can exacerbate greed (and, boy, we did a heck of a job at it) but not all the hope nor stimulating in the world can reflate a burst bubble.
* Great (or sick) minds synch alike, I was just feeling queasy about posting the SDS trade as we worked higher. The Retroactive Good Trade makes you look silly and you learn more from losing (and teach more writing about losing). Happily, I’ve been wrong in public enough plenty of times.
* Electronic Arts (ERTS) is trading higher on a bounce-back from yesterday’s warning. Proctor and Gamble (PG) and Costco (COST) warn and go down by amounts which, frankly, are barely worth mentioning this year. It’s not a great reason to be bullish but, if you’re still shorting hard here, what kind of catalyst are you awaiting?
* Another stock acting well on daily misery? Toyota Motors (TM). Hey, I’ve leaned on them all year but you have to be able to see the market you have, not the one you think you should have.
Jeff Macke is the new Rodney Dangerfield
Free hazmat suits for all traders today.
I wonder if that Fast Money hedge fund chick is covering her COF short today.
sorry fly we’re breaking higher .. and oil will jump higher until christmas if not more it reads in the cards ..
Macke could carry a Cramer style show. Jim’s show is very gay and tired. Him and his Trustfund.
Market Fool Says:
The president elect of USA is an incredibly good bullshit artist
You read my mind. This guy is smooth, James Bond smooth. Cut from the bullshit Illinois political cloth., just better dressed. A good bullshit artist indeed..
Market will go up as we move closer to the Senate vote, however I wouldn’t be surprised if the vote fails just like the financial bailout failed the first time. So, I’ll be pulling out of all my longs leading into the vote, and will rebuy ERX on the dip, before dumping that long around the 17th and going 100% short again.
Fuck I hate the alarmist media…when Grandpa came out West he had to eat tumbleweeds and drink his own urine…
http://www.cnn.com/2008/TECH/science/12/11/drought.problem/index.html
That “No Diving From Bridge” sign is for people named Blagojevich no doubt.
New lows this month.
Dog’s here, get ready for the rally.
Fly, with all this talk about coffee, please tell me you’re in some commodity names
Imagine how the dog will feel should S & P breakout and run another 100 points up.
He will have missed the lows by over 250 S&P points.
Broke 903 — Chart Addict’s top. Off to the races…
I know, I know… you’re raising your ssf again… whatever the fuck that is.
DD, i sure as hell hope so..
Carefull being short this market.
My impression is that every sell-off will be absorbed for the next couple of months. The action in this market is eerily similar to that of 1929. We got the 50% peak-to-trough sell off this year just like we did in 1929. Students of market history will also remember that the 50% sell off (from 386 to 195 on the DOW) led to a 50% rally from 195 over the course of 6 EXACTLY months to 295. To put the current market in perspective, we bottomed at 7450. A 50% rally would take us to 11,175. I know it seems impossible, but just be aware that it’s very possible.
Keep your minds open.
-Phil
1929-33
Rallies % : 52, 19, 27, 31, 39, 28
Declines % : 49, 30, 37, 39, 45, 41, 55
Crude up 10% why arent all the oil bulls posting like crazy?
SKF interesting here. im in with stop nearby.
SKF reporting for duty.