The following stocks were mined, in a very environmentally unfriendly manner, using my custom OVEREXTENDED (possible short sale set ups) screen, using The PPT.
Palm, Inc. [[PALM]]
Tempur-Pedic International Inc. [[TPX]]
Sears Holdings Corporation [[SHLD]]
[[CAB]]
The Cheesecake Factory Incorporated [[CAKE]]
Whole Foods Market, Inc. [[WFMI]]
Savient Pharmaceuticals, Inc. [[SVNT]]
Dendreon Corporation [[DNDN]]
Isle of Capri Casinos [[ISLE]]
That’s right, I’ve done lost my mind, posting charts and shit.
If you enjoy the content at iBankCoin, please follow us on Twitter
Charts & Shit.
isn’t that a new breakfast cereal for grown-ups that play the stock market?
we have a new Cramer now….. when fundamentals dont work time to turn to TA and say shit like “Overextended”
There is a disturbance in the force.
It is strong, this one.
Still double-taking at the charts on Fly’s blog.
I’m sensing that I’ll soon be fired.
I knew you would convert to TA.
CA, careful, this may be a trap.
good stuff.
Lifted from a non spam blog.
“Flush from last year’s 234pc rise in their Black Swan Fund, they are betting that quantitative easing and war-time deficits have sown the seeds of inflation reaching “10pc, 15pc, 20pc, or more”. They capture the mood of the times, but are they right?
We know that the Fed’s balance sheet has exploded (to $2.07 trillion), but that is only half the story. Data from the St Louis Fed shows that the “monetary multiplier” has collapsed from a decade-average of 1.6 to the depths of 0.893. The “velocity” of money has slowed to a crawl.
Professor David Beckworth from Texas State University said the Fed’s efforts to boost the money supply are barely keeping pace with the deflation shock. Stimulus is not gaining traction. The credit system is broken.
Where will the inflation impulse come from given that capacity use is at a post-war low of 68pc in the US, and nearer 60pc worldwide? The immediate threat is wage deflation.
Tim Congdon – a hard-money Friedmanite from International Monetary Research – says the Fed is still not easing enough, perhaps because it is spooked by so much criticism or faces a mutiny by its own hawks. “If Ben Bernanke and his officials are listening to this sort of stuff and taking it seriously, they are making the same mistake as the Fed in the early 1930s,” he said. The US “output gap” is near 7pc. That is a powerful lid on inflation.
The sin has been to let M2 money growth wither since January, to let bank lending contract at a 5pc annual rate, and to let 10-year bond yields rise to nearly 4pc. The Fed pays lip service to the Friedman-Schwartz theory of the Depression, but has not digested the lesson.
Mr Congdon’s prescription is what Britain did in 1931 and 1992: monetary stimulus à l’outrance (today: bond purchases), offset by spending cuts. This mix – easy money/tight fiscal – would halt debt deflation without ruining the public finances of the US, Britain, and Europe in the way that Keynesian schemes ruined Japan. “The markets would rocket,” he said. …
Today’s danger is creditor revulsion as governments worldwide raise $6 trillion in debt this year. The solution is remarkably simple. Stop borrowing and step up the Friedman monetary blitz to stop loan collapse. Does any nation have the nerve to do it?”
It sounds about right. Perhaps one of the most successful presidency/ great economic policy periods was the middle years of the 90’s.
We had a period when fiscal policy was being used to tighten spending by simply slowing the rate of growth and a Fed that was on the ball in terms of using monetary policy to kick start the economy. The end result was an economic boom from 1995- 1998.
Similar to the present, the bond market basically took it up the backside in 1994 when the market felt the Clinton administration was a big spending government and the stock market only recovered when those proper policy initiatives were put in place.
lol
funny stuff.
sonic youth’s on jimmy falon.
getting myself ready for tomorrow’s action. looks like it could be a bleeder.
There is a disturbance in the force.
That’s no moon…
I tried to short PALM on Friday at 14.30, but TDAmeritrade cockblocked me and claimed they had no shares to short. I decided to buy FAZ instead, and it then slipped down at the end of the day on Friday. Luckily, FAZ went gangbusters today, and I am in the money big time. I am not sure what I’ll do with the faz, depending on what happens tomorrow, I may hold on for a bigger move.
I think this is the inverse of the picture falling off the wall. Ergo, we go higher. Yes, I said ergo.
Fly – did you rehang the picture with any extra/reinforced fasteners? Is it level? Was it damaged in any way, even a nick? Do tell all.
I don’t believe in charts, you fucking losers. I posted them in order to balance out all of the negative karma I’ve been doling out. This way, the stocks Gods return the favor via big stock wins.
“This is the type of market that you just lay your balls on the guillotine and say “I fucking dare you.””
I fold. wake me up when the next huge rally starts.
“When I say “fuck yourself”, do you attribute that to drunkeness, or to my estimate of your athleticism? “
Artist,
LOL at your breakfast cereal comment. Does each box come with a prize inside? On second thought, don’t answer that. I want to be able to eat breakfast in the morning.
Yen’s stronger again. This is very ungood for the stock market.
It’s too bad Blizzard Entertainment isn’t public after seeing how this kid reacts to his mom cancelling his warcraft account.
http://www.youtube.com/watch?v=K9Q1Eegn2hw
Try ATVI ….
Fuck me, the nerd play has been there all along and I was asleep at the wheel.
Fly is a clueless hick.
FLY is posting charts?
GET OUT NOW
THIS WILL BE KNOWN AS THE FLY “GOOD KARMA” TOP…..lol
j:
The article you quoted from the London Telegraph:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5586043/Dont-believe-the-hyperinflation-hype—dare-to-make-cuts.html
had more replies from the public than we normally see here. And those replies seemed to be from people who knew what they were saying. Scary stuff.
CNN Money – “Obama’s banking end around. The government wants to make it harder for retailers, industrial firms and other non-banks to own banks. But six months ago, it made a big exception for GMAC.”
The disturbance in the force is the demise of freedom and liberty and total submission to the federal reserve/world bank. Any resistance is being beaten down on every front. Your new priorities won’t be financial survival, but physical survival. Cash and guns won’t help in this scenario when your achilles heels are food, air, and water.
OVERSOLD rally due. Sell rally; shorts will be back in play. Fly your charts are child like go back to your instincts. Good charts are 60% correct and great charts are 61% correct. Great instincts and experience does better. Stop joking around sand bagger.
Thanks Zen
price runner:
Simple charts are usually what the best traders use along with their feel and understanding of the market and the stock.
It’s only those that don’t have any feel whatsoever that seem to apply all these silly formations such as pizza gaps.
It appears this post may have reversed the markets up. Let’s see how the day plays out.
yea right you don’t believe in charts… you may not rely solely on them but you know you need them
What else are the stock gods telling you to do? DO IT!
Good joke En1gma.
ok, maybe your proprietary flux capacitor dispenses the need for tech analysis, but funny how all your elite traders rely heavily on it
“Sleep is for wimp’s”
———–The Fly 2009
ENTR 1.7 premarket?
Zen – Thanks for the link.
http://dailybail.com/home/there-are-no-words-to-describe-the-following-part-ii.html
Now I can sleep better, knowing this dingbat is watching over the Fed for me.
Why not just break out the industrial sized FAZoline and let the gay goat orgy begin?
Saying a stock is over-extended is like saying a drunk has had too much to drink.
Who are you to judge?
Good Morning Vietnam……..
Thought this was worth a chuckle.
An upgrade for SBUX with a target of $171.
Starbucks SBUX Robert W. Baird Neutral » Outperform $15 » $171
It was on Briefing.com this AM.
Any takers?
DSB Says:
It’s too bad Blizzard Entertainment isn’t public after seeing how this kid reacts to his mom cancelling his warcraft account.
http://www.youtube.com/watch?v=K9Q1Eegn2hw
***********************************************
Both spoiled kids in that video need to have the shit beaten out of them a few times.
I will be glad to volunteer. For bankers, too.
“There is a disturbance in the force.
It is strong, this one.”
I don’t think you need to worry Woodshedder. The Fly is probably just a little gassy. I warned him about having that extra serving of lentils but he said he was hungry from not eating all day and only drinking Dunkin Donuts coffee. It should pass by this morning.
blizzard is public. it’s part of ATVI
Steve the Neighbor- You are an impostor.
You are not my Dad.
FLY,
I thought the only TA you followed was @ Scores..
Fly since you went against everything you believe in . I took a bit of that ISLE…cant be worse than FTK…or can it
Son, I was worried hanging around Fly Jr. would have a bad effect on you. Keep it up with the attitude mister and I’ll have you over at Fly’s house volunteering your services with his contractor for the entire summer.
Kids! Oy!
I am still mad at you for stealing my Bar Mitzvah money so you can buy your beer.
Get a job. Maybe Fly will hire YOU to dig his new septic tank.
This is what I love about this market shit….
here is the actual headline right now:
DJN; “Rambus Demonstrates Superior Power Efficency of World’s Fastest Memory.”
and how do the investors respond to this headline? down -13.01% right now……I guess this memory just isn’t fast enough (they want faster than the WORLD’s fastest, the worlds FASTEST just isn’t god damn fast enough!)
Today’s danger is creditor revulsion as governments worldwide raise $6 trillion in debt this year. The solution is remarkably simple. Stop borrowing and step up the Friedman monetary blitz to stop loan collapse. Does any nation have the nerve to do it?”
This made my morning – which was spent staring at code.
Look – the reason no government has the “nerve” to go all Friedmanesque on the problem is because, well they know that the public reactions to the spending cuts will be so brutal they and their parties won’t be re-elected in their children’s lifetimes.
Shock Doctrine by Naomi Klein is perhaps the best medicine for the disease that is Friedman-mania.
There’s a reason it’s only been implemented in dictatorships – because only a strong military can force the people to accept the piss poor plan to move all available wealth into the ultra rich in a society.
Friedmanism is economic fascism.
LULZ
The disturbance in the force is the demise of freedom and liberty and total submission to the federal reserve/world bank. Any resistance is being beaten down on every front. Your new priorities won’t be financial survival, but physical survival. Cash and guns won’t help in this scenario when your achilles heels are food, air, and water.
Go back to infowars.com and take your tin hat with you.
Cuervos;
Are you kidding? The Clinton initiated a variation fo that policy from 1994 onward and we had a huge boom from then to 1999.
They are simply suggesting cutting the fiscal stimulus and taking the budget back to balance over a shorter period of time.
That’s not Fascism. Unrestrained turbulent governance and out of control spending brings fascism as we recently saw in Britain.
HEY NOW! 1 fucking day I was on the road to st augustine and I got clocked for 5%.
Greetings from St Augustine FL.
Dang merket!
Lucky coincidence j –
The internet boom and Greenspan’s monkeying around with interest rates made it look like that worked.
Smoke and Mirrors.
To anyone already wealthy, Friedmanism seems to be the antidote – to anyone that has lost their job, can’t find another one, seeing jobs being headed out the country or employers pressuring down “livable wages” – it’s an entirely different thing.
Balance is what’s needed. Protect the free market but, protect your greater economy from those that would pillage it for their own “greater good”.
There is a reason why the banks here are as well respected as they are – they are kept in check and know their proper role in society.
They were never allowed to become banksters.
Hey Henry…were you on A1A? make sure you hit the Mill Top Tavern…..
Cuervos, please. I really respect and like you a lot. Don’t say this. please take it back!
The internet boom and Greenspan’s monkeying around with interest rates made it look like that worked.
Not true. That was a golden Age of American style capitalism and despite his personality issues Clinton’s presidency was the continuation of Reagan’s with a slightly softer edge (after 1994 to 1998 and the brief interlude with the older and just as stupid Bush.
To anyone already wealthy, Friedmanism seems to be the antidote – to anyone that has lost their job, can’t find another one, seeing jobs being headed out the country or employers pressuring down “livable wages” – it’s an entirely different thing.
Bullshit. Perhaps you should ask Chileans how they feel and why it’s the richest nation in that rat hole south of the border.
Balance is what’s needed. Protect the free market but, protect your greater economy from those that would pillage it for their own “greater good”.
Protect what? Protect whom, the rent seekers?
There is a reason why the banks here are as well respected as they are – they are kept in check and know their proper role in society.
They were never allowed to become banksters.
No, like Australia there was smart and effective regulation. The US market is over regulated and stupidly so. Lot’s of it makes absolutely no sense.
Shock Doctrine by Naomi Klein is perhaps the best medicine for the disease that is Friedman-mania.
Naomi Klein is such an obviously innumerate ponce (not to mention tinfoil hat wearing conspiracy nut), that I’m taken aback that one who seems to be able to work his way around a spreadsheet could be conned by her dimwitticisms.
Of course, we know what Barnum said …
___________
J — no need to respond in logical argument. If you hit Youtube for a review of Naomi Klein’s “speeches” on the subject matter, after a couple of gales of laughter, you’ll see why.
_______
Go back to infowars.com and take your tin hat with you.
Rofl, coming from a guy who was just touting the English major Naomi Klein’s analysis.
________
That’s not Fascism. Unrestrained turbulent governance and out of control spending brings fascism as we recently saw in Britain.
Exactly. Fascism doesn’t work with the cutting of spending, because fascism has to have money in Gubmint to exert authoritarian control.
Fascism is bailing out “too big to fail.” Fascism is the State taking ownership through “partnering” with the auto industry.
Fascism is the State taking ownership of the health care industry.
Most socialists wouldn’t know a fascist if they tripped over them, as they are merely different degrees of the same molten mess.
_______
Tut tut, foolish dip buyers. The markets are slipping, despite your feeble attempts. Perhaps you should cover your backside, maybe shorting a little PBR? No? How about writting some nice puts on EMN or COF, then? Go ahead, ignore this post, and feel the peculiar sensation of being castrated, as we rip lower.
Jake,
It’s an historical text not an economics book.
are you in FL?
Mr. Jake,
very well said.
henry, no I was in Flagler last month, we road the Harley’s up to St. Augustine for the day, my favorite place is the Mill Top Tavern…..
are you still in the market or are you all cash?
Cuervos:
Umm I missed that part where you mentioned Klein.
In short, she’s a fucking moron. Not that I believe it should be so, but she makes the case for those who think women should only be seen in the kitchen and in the bedroom.
Dr Jon Najarian pumped DTO yesterday: double short earl.
FRPT..acting will – kind of a fuck you North Korea related play..
Zen – Boiling is long DTO at 68. Thinks crude is going to 65.
Watch that PALM short. Earnings out this Thursday after the bell.
WTF happened to GME this morning?
I find very few people understand fascism as well as they think they do, nor do they understand socialism as well as they thing they do.
Liberal (original meaning of word) Capitalist states bailing out their banking sectors and implementing watered-down national healthcare is not fascism – I’m sorry. Finland is not a fascist state, nor is it on the road to being one. We are not on the road to fascism – we’re finally veering off of it.
Dr. Lawrence Britt has examined the fascist regimes of Hitler (Germany), Mussolini (Italy), Franco (Spain), Suharto (Indonesia) and several Latin American regimes. Britt found 14 defining characteristics common to each:
1. Powerful and Continuing Nationalism – Fascist regimes tend to make constant use of patriotic mottos, slogans, symbols, songs, and other paraphernalia. Flags are seen everywhere, as are flag symbols on clothing and in public displays.
2. Disdain for the Recognition of Human Rights – Because of fear of enemies and the need for security, the people in fascist regimes are persuaded that human rights can be ignored in certain cases because of “need.” The people tend to look the other way or even approve of torture, summary executions, assassinations, long incarcerations of prisoners, etc.
3. Identification of Enemies/Scapegoats as a Unifying Cause – The people are rallied into a unifying patriotic frenzy over the need to eliminate a perceived common threat or foe: racial , ethnic or religious minorities; liberals; communists; socialists, terrorists, etc.
4. Supremacy of the Military – Even when there are widespread
domestic problems, the military is given a disproportionate amount of government funding, and the domestic agenda is neglected. Soldiers and military service are glamorized.
5. Rampant Sexism – The governments of fascist nations tend to be almost exclusively male-dominated. Under fascist regimes, traditional gender roles are made more rigid. Divorce, abortion and homosexuality are suppressed and the state is represented as the ultimate guardian of the family institution.
6. Controlled Mass Media – Sometimes to media is directly controlled by the government, but in other cases, the media is indirectly controlled by government regulation, or sympathetic media spokespeople and executives. Censorship, especially in war time, is very common.
7. Obsession with National Security – Fear is used as a motivational tool by the government over the masses.
8. Religion and Government are Intertwined – Governments in fascist nations tend to use the most common religion in the nation as a tool to manipulate public opinion. Religious rhetoric and terminology is common from government leaders, even when the major tenets of the religion are diametrically opposed to the government’s policies or actions.
9. Corporate Power is Protected – The industrial and business aristocracy of a fascist nation often are the ones who put the government leaders into power, creating a mutually beneficial business/government relationship and power elite.
10. Labor Power is Suppressed – Because the organizing power of labor is the only real threat to a fascist government, labor unions are either eliminated entirely, or are severely suppressed.
11. Disdain for Intellectuals and the Arts – Fascist nations tend to promote and tolerate open hostility to higher education, and academia. It is not uncommon for professors and other academics to be censored or even arrested. Free expression in the arts and letters is openly attacked.
12. Obsession with Crime and Punishment – Under fascist regimes, the police are given almost limitless power to enforce laws. The people are often willing to overlook police abuses and even forego civil liberties in the name of patriotism. There is often a national police force with virtually unlimited power in fascist nations.
13. Rampant Cronyism and Corruption – Fascist regimes almost always are governed by groups of friends and associates who appoint each other to government positions and use governmental power and authority to protect their friends from accountability. It is not uncommon in fascist regimes for national resources and even treasures to be appropriated or even outright stolen by government leaders.
14. Fraudulent Elections – Sometimes elections in fascist nations are a complete sham. Other times elections are manipulated by smear campaigns against or even assassination of opposition candidates, use of legislation to control voting numbers or political district boundaries, and manipulation of the media. Fascist nations also typically use their judiciaries to manipulate or control elections.
Look, I presented Naomi Klein because she writes in English.
If you want to read about the total failure of Friedmanism as it was put into place (even with Friedman personally advising Pinochet) then you should do yourself a favour and read any of Eduardo Galeano’s histories of Latin America.
Especially “The Open Veins of Latin America” and “Memories of the Fire” (trilogy).
That goofy Darwinistic “free market” fascism is the other hand of the brutal dictatorships that disappeared their opponents.
Only those so blinded by their ideology are not able to see that the economic oppression of Pinochet was hand in hand with the military’s tactics.
Furthermore, his rise to power was at the behest and impulse of the American companies who screamed bloody murder when the people of Chile voted in leaders that were interested in not so much remote economic planning by ITT and the like.
You should read up on the Congressional hearings in 73 when the CEO of ITT famously said that he was aiding the coup in Chile so as to “look after number one” and refused to acknowledge that he was out of line, because he was, in fact, operating as a kind of foreign diplomacy and was castigated for them by Congress.
Naomi’s arguments are not new – but, they are the most prominent from a non Latin American.
Naomi’s a bonehead, and if you can’t see that by watching two minutes of one of her you tube rants, you need to go back to school for some education. Pick someone who understands — even remotely — how capitalist systems actually work.
And please, spare me your Latin American socialist “histories.” If I want to read magical realism, I’ll stick with Marquez.
If you want to debate hard facts and numbers, that’s one thing, but crying about failed socialist or communist states — given that they’ve ALL failed — is not going to garner you much sympathy. Maybe find a website dedicated to the Shining Path or something.
I suggest you take this over to my blog, btw, Fly hates politics, and I think most of his readers are bored by it.
______
Look, I presented Naomi Klein because she writes in English.
So did my kid when he went to preschool. Klein is the same level.
If you want to read about the total failure of Friedmanism as it was put into place (even with Friedman personally advising Pinochet) then you should do yourself a favour and read any of Eduardo Galeano’s histories of Latin America.
Friedman was asked to give economic advice. The regime absorbed most of it and the Chilean economy turned around. The trouble with the idiot that wrote that book was that he causally dismisses that Allende was about to do a Castro. Pinochet was asked by the Chilean Supreme Court to intervene and stop the lunatic from breaking the law. The best thing that happened was that Allende put a bullet in his own head.
What’s exactly wrong with economists doing consulting work? He advised according to his beliefs.
Especially “The Open Veins of Latin America” and “Memories of the Fire” (trilogy).
Sorry but I don’t read romantic South American leftist propaganda. You’ve read one idiot you’ve read them all.
That goofy Darwinistic “free market” fascism is the other hand of the brutal dictatorships that disappeared their opponents.
Oh yea, show me one brutal dictator that runs a “free market”.
Only those so blinded by their ideology are not able to see that the economic oppression of Pinochet was hand in hand with the military’s tactics.
Pinochet should have left after he restored the country from the clutches of the left. However to suggest he was brutal while ignoring what Allende was about to do is dishonest.
Furthermore, his rise to power was at the behest and impulse of the American companies who screamed bloody murder when the people of Chile voted in leaders that were interested in not so much remote economic planning by ITT and the like.
Yea, and you would have expected those firms to lie down and allow their property to be expropriated?
You should read up on the Congressional hearings in 73 when the CEO of ITT famously said that he was aiding the coup in Chile so as to “look after number one” and refused to acknowledge that he was out of line, because he was, in fact, operating as a kind of foreign diplomacy and was castigated for them by Congress.
No he wasn’t. Geneen was looking after ITT’s interests and that’s a good thing.
Naomi’s arguments are not new – but, they are the most prominent from a non Latin American.
Noami is a moron.
Horry shit.. That large green bar on the EUR/USD should lead to a nice rally IMO..
The regime absorbed most of it and the Chilean economy turned around.
Untrue. He didn’t fix the country. It was the centre-left coalition government that increased social spending and reduced the impoverished from 40% of the population to about 20% after Pinochet was voted out of office.
Which is a abrupt slap in the face of the Friedmanistas who zealously believe that only the “free market” can save economies.
If by “saving” you mean 40% of the country living under the poverty line (zero middle class) then you live there because I sure won’t.
You counter the human rights crimes that Pinochet committed vs what you conjecture about Allende could have done and it’s a false comparison.
Look, there is a very famous story regarding Allende and Castro and it goes along the lines of Castro sending a gift to Allende with a note that read “My friend, I think you trust democracy too much.”
This is a direct counter to the false accusations by those that would defend someone who’s dictates violated his citizen’s human rights both civil and economic.
If you would prefer a corporation backed, military coup which installs a dictator who imposes a police state all for the sake of your petty economic ideology then you have less of a concept of freedom than I do my friend.