This sell off is not scary at all, sort of like a baby pointing a loaded pistol. It’s true, I am losing some hard earned coin today; but it is a necessary development. I want to buy stocks on a dollar reversal to the downside.
Watch UUP.
God willing, this sell off will create some bountiful buying opportunities, specifically within the oil/gas space. I am using ERX, as my go-to ETF, to buy the industry in durress.
Once again, MVIS is taking the fuck off and OVTI, FNSR and FITB are holding up rather well, despite the DevilDogged Monday.
“The Fly” is fighting off egregious allergies and zombified bearshitters, all at once. My advice, wait for the dollar turn, for it shall set you free.
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Agosto says that the bears will have a “free for all” when UUP crosses 100DMA.
Fly,
I’ve seen this before with MVIS. They usually run the stock up right before they dilute. I wanted to add more today but now I’m a bit worried. Have you heard anything else since Friday about why the pps is taking off like this? Thanks
Romanul
My advice, wait for the dollar turn, for it shall set you free.
To a weaker doll?
Although the RSI(20) is weak, Daddy Moose is still all about FAZ and other iETFs.
Agosto might be correct Cuervos!
Dollar is going higher. After all, for the $ to go lower it has to do so relative to other (euro) “healthy” curencies. Euro is much sicker than the mighty Dollah.
Loading up on gold miners today. I know, some here will say how can gold go higher if the dollar rallies? Short answer…It will. Now go buy some AEM or SSRI.
This is really funny shit…
So Forest Griffin (previous UFC Light HeavyWeight Champion) wrote a book called “Got Fight”
Immediately on the beginning pages, he insists upon you take a “MANLINESS TEST” to be deemed worthy of reading his book.
http://browseinside.harpercollins.com/index.aspx?isbn13=9780061721717
“I have imposed a restriction on those of you who are attempting to read it…All I care is your manliness. I mean, how would it make me look if a bunch of sissies were reading my book in between their pillow fights? Not too good, thats how. So before I fill that empty brain of yours with all sorts of smarts things, I am going to give you a test…”
“….if you score between thirty and forty, you must read this book at the privacy of your home. If someone asks if you read my book, you must say, “No I tried, but its far too manly for me to comprehend,”
LOL…KIND OF REMINDS YOU OF SOMEONE!?
Agosto says that the bears will have a “free for all” when UUP crosses 100DMA.
Cuervo — if you are talking simple moving average, that’s moer than a dollar and a quarter north of the current price ($25.45 = 100DMA).
Do you know how huge a move that is for UUP?
I would hope one would be short long before that, is all.
Easier than the Dollar, watch the VIX for a breakout.
FTK, Big H & S ,,,Rejection at the 50 day this morning. Neckline 1.70-1.80 . Will buy there tomarrow….
masterpain – Where do you see the “Head and Shoulders”? In FTK? Last one I see is on the weekly charts in 2008.
http://ibankcoin.com/cronkite/?p=5893#comment-547 is a note towards that Jake, one I made on Cronkite’s blog:
The closest thing to a sure bet right now is to buy DOG when the UUP shows every intention of crossing the 100DMA.
An off the cuff target might be around 75 for DOG (up from 64.40) but only when UUP crosses about 24.50
Just my $.02
Considering my optimistic target for 12/31/09 is 10.4k and my pessimistic target is around 5.4k for the DOW I’m figuring that that 7.75k area needs to be held by the bulls or we’re going to see some seriously ugly results.
By the way, Agosto doesn’t try to catch the first third of any move or even the first half of the move.
He just likes to be right when he directs the DOG into getting his money.
@joe, re your comment: Euro is much sicker than the mighty Dollah.
Actually – the Euro is manipulated to be weaker against the dollar as are most currencies that have to have a reserve holding in said peso.
FTK Daily chart
AAPL taking a bit of a hit.
What happened at that AAPL meeting?
Did Steve Jobs show up wearing a dress with size 35s announcing a sex change operation?
An off the cuff target might be around 75 for DOG (up from 64.40) but only when UUP crosses about 24.50
Ok, but that’s not the 100 DMA. That’s a buck south of that.
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Yes, Jake that is my off the cuff expectation.
The Agosto system doesn’t move that early. AND it’s only a valid system as long as there is a significant inverse relationship between UUP and DIA.
To date however, it hasn’t showed a loss however it’s only traded six or seven times since UUP started as an ETF.
masterpain,
Selsun Blue forming on FTK, better buy today.
Not seeing this H&S pattern. Why would you BUY?? it’s a bearish signal…
FTK is a deathtrap. Wow not much posting today.
I am also wondering what is causing this egregious run of MVIS. I think either they will announce an OEM name or another round of financing is ahead.
What did you minions report to you Fly?
Maria Bartiromo looks like a fucking penguin today…and how long has Pisani been saying that stocks are overextended?
I guess today is a “buy the dip”. Odd no?
This end of day buying is getting entirely too predictable.
You gotta feel sorry for the bears, they nearly scrape a win for the day and then Krugman comes out and says the recession will end this summer.
ROFLMFAO 🙂
I read this blog in the privacy of my own home and it is too godly for me to comprehend.
Pisani has always been saying ‘sideways’ for everything. The bears are dead again
WTF? Green? And you’re telling me it’s Krugman? (Krugman Sachs, maybe…)
very strange mkt action…
Bears take another homo throat kick, ouch!
if this bizarre rally doesnt hold…look out.
Sold CDE bought earlier at $13.73 for $14.09 (+2.6%)
Bought back MVIS sold earlier at $3.18 for $2.99.
Nothing to see here, just closing the gap.
Sorry this is so late… supposed to get it out at 2 then 3 o’clock:
Damn clients!
Special Devil Dawg Monday edition 3 oclock Rock!
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Still in DXO & FAS from beginning of 09′, well over 70% YTD.
Fly, what you think about COIN and SYMX ?