Head fake or not, people are buying into the resurrection of the consumer theory.
Via PPT, top ranked retail names, all ranked “buy” or higher.
HOTT, JOSB, ROST, CTR, BKE, SSI, ARO, NWY, WTSLA, URBN, GES, DBRN, DSW, CACH, KSS, AMZN, LQDT, CONN, BBY, RSH, RSC, HGG, NKE, COH, WWW, VLCM, DECK, TBL, KSWS, SHOO, PSMT, FDO, DLTR, BJ, FRED, NFLX, PETM, BKS, TSCO, UGP, JAS, KIRK, LL, WFMI, TIF, HIBB, BGFV.
Choose one.
[youtube:http://www.youtube.com/watch?v=8cnzstOtW2k 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
impressive, you took the time to link each symbol.
Very un-like Fly.
Thanks for the extra time spent.
Just one?
Happy Green Day, Senor Tropicana.
“impressive, you took the time to link each symbol. “
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A fairly tranparent attempt at “stickin’ it” … to all of us “non-PPT subs”…to illustrate what we’re ALL missin’ !
NOT that there’s anything wrong with that !
.
I bot a pantload of TGT today.
Odd,
No?
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TGT is NOT on the list, Jake O’Asshole.
Hey, it looks like I Bank Loin…I guess you got to make it where you can…
…there was Pershing Square / TGT news today ! fwiw
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No JCP? Egregious.
‘Now that I subscribe to the PPT, my viewers will actually make money. Booyah!’ – Jim Cramer
I posted this last year. Might as well make it an annual thang.
An audio St. Patrick’s Day story: http://www.theseanachai.com/2007/03/16/st-patricks-day-again/
Posted by a Socialist out to sap and impurify all of your precious bodily fluids, yet approved by Jake. It’s a miracle!
TGT is not on the list, Jake…
Tough to get one pastyou, Encylopedia Brown.
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You know how I know this recession/depression has not yet reached it’s nadir? Because the dumb box down at the local corner WAG still had a job behind the counter. Until stupid fucks like her lose the job they don’t deserve to a previously unemployed stiff who has a modicum of customer service skills, I will stay on the short side. Couldn’t even get a “Hi. We’ll be with you right away, sir.” or “Nice evening we’re hanging, huh, sir.” Not a damn word as she checks me and the box of the wife’s Advil Sinus and Bitch ‘N Complain out. Unfuckingbelievable… Indeud.
lmao Junk…Bitch ‘N Complain out….indeud.
HOTT. Goth recommended; stupid baggy pantaloon-wearing dumbfuk approved.
Wood, bot me some more short ETF’s today on the suggestion of the “system”. Haven’t checked your threads, is the BB locked and loaded to the hilt?
Don’t say fuck you to fuzzy boots via DECK? Man, this is big news.
Cute……
by seriously, Freddie Mac will be a bigger burdon on tax payers than AIG most likely…….It could easily top 200 billion in money needed to repair the bullshit loan losses……….
just something on my radar.
And I’m not buying this rally anymore, there is nothing real behind it but a big “jump in cause everyone is jumping in” headfake. Soon everyone will be put back on earth.
This news today of “new housing building up” is total bullshit, no fucking home builder is building shit. Get real people, O so here we are just wanting some good news on the housing front and out of the fucking blue there is a report of home builders back to work building away? Fucking bullshit……..
Amen Junk! I couldn’t agree more.
TheArtist wears fuzzy boots.
Roasted turkeys all over again. Slap some mashed potatoes on your cranberry road rash, stupid Dad says gotta clean up the floor, no playing till there’s more legislashun. I think that’s what he said anyway, I’m never sure cuz he uses big words like posative divergens.
Right, Artist. Notice how all this “good news” started to surface around the time Axelrod started piping “optimism” into The Puppet’s teleprompter. I’m somewhat disturbed by Doug Kass’ apparently genuine bullishness. He seems too damn sure of himself. That fucker always hedges himself in what he says in public. Roubini bottom… I don’t believe it. I’m staying short.
Clean-up on Aisle 3, manatrader.
While the recession is clearly not over you guys who are holding short would serve yourselves well by at least hedging with something on the longside. This rally could and probably will move a lot higher from here.
Notable Calls:
Morgan Stanley (NYSE:MS): UBS telling to short – will be sub-$20 next week
UBS on box saying short Morgan Stanley (NYSE:MS)….says street expectations have gotten too high….will likely post loss…..says stock will be below $20 next week.
Also from Doug Kass: High above the Alps, my gnome says that it is widely expected that Goldman Sachs (GS) and Morgan Stanley (MS) could announce equity offerings shortly.
Contractor,
I input your suggestion into the AI of my system. Don’t take this personally, but my proprietary system spit out this reply from it’s Daisy Wheel printer: “Fuck Off” (in red ink, no less). It goes on to state that my mini version of Ft. Knox is a sufficient hedge. But thank you for the kindly suggestion, sir.
Contractor, how much is “a lot higher?”
There’s a lot of overhead resistance comin’ up (read: 50 DMA, Jan. 21 low, and sane individuals trading the market). There’ll be a fair number of those “swinging a heavy line”, as Jesse would say, around those.
selling into this rally but the higher it goes the more i regret about the selling i did couple of days ago 🙂
i was also surprised by the lack of volume, judging by the end of the day blow out i expected much higher volume but it came lower than yesterday
In the short term we’re toppy but I think there is another 100 points upside on the spy from here.
Right on, crazy. Volume ebbing. Sellers will smell the blood soon. This is buyer’s exhaustion we’re about to see. It may indeed go higher from here, but not before a pullback. The homo-hammer will fall soon.
Of course, I may be just be getting greedy. On Friday I was telling myself 800 was the top. 😀
No, I agree that another 100 SPX points is a good target.
I am just hoping that there is a nice pullback before it happens 😉
By the way, that would make a rally of almost 30%. Seems about right for a bear market rally.
Ah, the days of SPX 666. When we all thought if this pig ever got back up to 800, it would be the shorting opportunity of a lifetime. No one disagreed. But look where we are now — and look at the human psyche kick in. Bulls wanting another 100 points, bears in pain. Where did the opporuntity go?
I’m painfully averaged in to FAZ @ $48. Fuck stops. I’m about to impose my will on this bitch. Hopefully she lets me live. 🙂
smart people say 800-825 is first target with resuming downtrend. 875 is the next target if 825 is taken out. but in both cases revisiting 650 area is not out of question.
Watching this BSG special and just heard a great line… All of this has happened before, and will happen again. Seemed appropriate.
Past bear mkt rallies in this bear market have never been 30% yet – so another 100 pts maybe stretch. But hey wtf do I know … also love the pic on this blog entry 🙂
This isn’t your daddy’s normal bear market …. historical perspective s/b used when pontificating about future expectations …. here’s some analysis from Tony at OEW on the subject:
“Should the Mar 6th low at SPX 667 hold, and OEW then confirms a new uptrend, we can expect a Primary wave B rally to follow lasting several months. Historically, using similar bear markets (1929-32, 1937-42, 1973-74) as a guide, a Primary wave B rally can retrace as much as 50% of the entire bear market in about five months. The bear market decline thus far has been from Oct 07 (SPX 1576) to Mar 09 (SPX 667): 909 points. A 50% retracement would drive the SPX to 1122. Our Primary wave B target, all along, has been between the OEW pivots at SPX 1107 and 1179. Even after a 58% decline in the SPX, the waves and the pivots are still in alignment. After such a massive decline, a 50% retracement rally sounds quite extraordinary. But it is really only a rally back to the September 08 levels.”
Ferrari, looks like the biggest yet was 20%.
Based on past bear markets, seeing one that hits 30% would not be shocking.
This would have been more helpfull before the rally. Day late and a…
Chase on!
this decade will certainly be one for the playbooks in 30yrs.
i’m with wood, though. if this rally is going to maintain any durability, it needs pullbacks. otherwise it’s just going to fly up and fly back down, to use a cheap pun.
will be interesting to see if GS and MS try to do an equity offering like UBS seems to have speculated.
Whatever:
I regularly post these updates/recaps from Elliott Wave Theory … Sorry you’ve missed them.
A chart showing DJIA peaks/valleys and rallys from 1900 thru the current lows posted in March 09′:
http://stockcharts.com/charts/historical/djia19001920.html
where is Cap and PhilfromBrazil at?
excerpt from MerLynch commentary 3.16:
Levels to watch
The S&P can test resistances at 780-800 (16%-20% from the 666 low), then 840- 880 (26%-30%). Measuring Fibonacci levels from the May ’08 high to the recent low gives a 38.2% retracement at 963, 50% at 1055 and 61.8% at 1146. In our
view, the length and height of the move will depend on whether real buyers enter the market or if this is short covering. If it’s just a short covering rally, the lower
end of the target range is the most likely scenario. But if real buyers show up, the middle to the upper end of the target range could be a fair target.
3-0-8
Why are they using May 08′ rather than Oct 07′?
No idea actually, would require some further back checking, I don’t really get into or follow levels too intricately to be honest, just saw the conversation thought it might add something for the people out there.
For those who are really into levels etc they (ML) also go on a little bit about:
The pattern for the S&P 500 between
October 2008 and early March 2009 shows
many similarities with those of October
1937 and March 1938. Both then and
now, the S&P 500 recorded important
lows in October and then lower lows
November, and so far in March.
If the S&P 500 continues to follow a
pattern similar to that of 1937 and 1938,
we may see a strong bear market rally. In
fact, the rally off the March 31, 1938 low
lasted until November 9, 1938 and
resulted in a return of 62%.
A similar rally from the March 9, 2009 low
would project to 1075 on the S&P 500.
For history buffs, after the March 1938 to
November 1938 rally, the S&P 500
declined 45% before recording a major
low on April 28, 1942.Low –
Are they thinking of doing an equity offering to replace the government preferred, Aris?
That’s actually not a bad idea as it get them off their back.
John Paulson has bought over 11% of AU – just for your information, fuckers. Barney Frank and Dodd and Schumer all are bought and paid for by AIG, GS, C, etc. so is it just a little unseemly that they act outraged?
Nice traditional version of “BVB,” Fly.
‘Tanks.
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Anon — I am witcha and Paulson on the miner buying.
And you are spot on with regard to the kabuki whining by the “outraged” Dems, who just shipped over $100 bn through AIG’s coffers in the last six months.
What’s the use in bailing out a company (ie, “keeping it viable”) if you don’t pay the employees?
Unless… you were bailing out the company for reasons other than viability?
Aside: You should get yourself a screen name, and stick around.
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Can only hope it lasts but I am fucking banking large amounts this morning. Reference ADBE which I took a massive position in at 16.50 and posted here about it because of their cash on hand. Short HME looks good too.
anybody here shorting WYNN, by all that is holy that bitch should be near zero by now……who is propping this bitch up?
Nice call on ADBE Gappy, I’ve been watching that one… wish I’d followed.
Adding to TSO, and buying new DIG, and ERX here.
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