You are the proud recipient of a Mike Tysonesque upper cut to the scrotum this morning. It’s all over. Run for the hills, pack the kids, put the luggage in the car seats and drive to a desolate area for sweet Jesus safety. Protect your scrotum.
Apparently, based upon consumer confidence data, the economy is still not kicking ass. That’s odd, since no one ever said it was, nor did anyone ever put forth such an egregious argument. I suppose, eventually investors want hard data to back up their insane buying binges. Still, I contend, just because you don’t like stocks, doesn’t means the Dow should be at 8,500. For the love of blue horse shoes, criminals were committing broad daylight shootings in NYC, when the Dow was last seen at 8,500. Granted, that past sentence offers zero reasons to own stocks: I insist, the economy is not nearly as bad as you think.
Nonetheless, today’s set up is of the fucked up variety. I am sure the Dow will slide between 1-2%, sending all into a frenzy. To be honest, as opposed to just lying to you, I’d be remiss to say this type of action usually precedes a longer drawn out decline. With oil dropping like a stone and the dollar strong, the market will have a difficult time rallying today. Furthermore, since today is the last day of the quarter, abject amateurs will sell the market—wholesale—thinking they will somehow avoid some post end of quarter window undressing tomorrow.
In short, I still recognize the current trend and it is up. Anyone who says otherwise is plain ol’ vanilla gay and is well deserving of an electric chair.
If you enjoy the content at iBankCoin, please follow us on Twitter
Plain ol’ vanilla gay is right.
How easy is it to be a bear?
Fly:
The buck is stuck in a 1.3800 1.4200 range for what looks like the better part of summer. That’s no big deal. However, it could eventually scare the shit out the bears when they realize that the buck isn’t going to go to the shitter in a hurry.
Everything goes up with inflation. Longer-term is another matter, since the economy is a bit more complicated than just considering inflation. Determining that the world is black or white with no in-betweens destroys one’s credibility.
Neither a bull or a bear am I.
Just a daytrading fool trading what I see.
I see most chips up and small caps via Russell doing well.
Should be good for trades (and it has been thus far).
That tropical whatever is over my house now and has rained about 4-5 inches in the last half hour.
I will be in your bullshit state, late July- early August, in order to enjoy the many luxuries of Disney.
How is GLW down?
“Second-quarter glass demand is much stronger than we anticipated even a few weeks ago,” Chief Financial Officer James Flaws said in a statement. “As a result, we now expect second-quarter sequential volume to be up approximately 100 percent at our wholly owned business.”
i’m asking the same thing, bought more yesterday aswell
What about the potential H&S that Chart Addict is prophesying for the last little while.
Specially with today testing 930 (S&P) it really looks like there is an imminent correction. We’ll have to wait for a break of the neck line
DD
it was even moving down at open whilst the market was moving up (b4 consumer confidence report came out)
Fly:
What is The Fly’s personal favorite ride/attraction @ Disney?
remember, we’re not dealing with chump change here…..
TC — you must meet the Fly for a beer (or at least brief convo) as you have now established an iBC “Disney Tradition.”
Of course, I could not blame you were you in the mountains of North Carolina in July and August, like most sane people from Florida.
_____________
Techno Viking your avatar is ready.
__________
One other thing about the buck…
Last week the Euros basically adopted quantitative easing by introducing a 12 month repo of around E400 billion. This operation has the same effect as QE and it will get bigger too over time as the only way out for them is through inflationary monetary policy.
That’s why I think the Chinese yesterday announced that they weren’t moving reserves to other currencies and were sticking with the Dollar. I reckon they understand too that if anyone needs to follow a devaluation policy it’s the Euros as their economies are far too inflexible to adjust and sort itself out. The policy also eases pressure on the Euro banking system’s exposure to Eastern Europe.
The point is that the US asset market could continue to hold up well and move higher in the face of a stronger dollar against the Euro as people begin to understand the ramifications of the ECB’s actions last week. I think The Chinese already have.
Chart Addict’s reasons for success finally revealed.
_________
How is GLW down?
I dunno but check out ARMH and the Angry Aztec god of Technology.
Both down nothing but a smidgeon.
Techno Viking’s INTC up too.
_________
FYI: PPT gamblers have been buying CNXT since early morning.
Jake- I’m game if Fly is.
Henry Fool- Based on GE deal with GERN is STEM worth a gamble?
Hey Jake why dont you get a life!
Any of you ever check out Rosenberg’s “Breakfast with Dave” from http://www.gluskinsheff.com/
good stuff and free to register…
of course he is a deflationary spiral guy so you inflation groupthink won’t like
Fly- You have to try this ride they call Dumbo the Flying elephant. It is scary. Almost as much as the Mad Tea Party ride. Wild stuff.
If you’re a bull, you should be blaming all market commentators for this death march. All morning, these assholes proclaimed there was absolutely no possible way the market could end down.
Such karma is more or less why you’re getting fleshed this afternoon.
My Gawd the Fly is on fire today. Keep up the good work and for Gawds sake stay away from Obama.
The Fly has begged me back to these boards again…I bought 15,000 shares of TCK in the last few minutes…top print was 16.02
I will sell this by days end
We like the Small World boat ride at Disney.
We brought Eddie Haskell with us and he created a scene when he was diving into the water for coins.
Disney security arrived so I would suggest you keep your hands in the boat.
You will be happy to know that Obama was added to the President’s Hall of Fame last week.
He seems like a nice man but he is no Ike.
Also, if I see the market plummet/explode one more time based on something as arbitrary and retarded as “consumer confidence”, I’m gonna punt the Obama puppy.
Mr. Cain…should the mkt tumble..its not because of a stupid fucking news headline all you CNBC idiots follow like gospel…wake up
Fly,
Disney is awesome. We take the RV there about every 2 years. Make sure to ride Mission Space at Epcot, it is amazing.
What a shame, I had visions of SnP 1000+ for my final dumpage.
disney sucks…long lines, nothing but fat out of state housewives…chubby kids whining….plus its hot as hell in July here…go to a fishing or surfing camp in Costa Rica..man up..
who fiollows CNBC, Cash. I don’t even watch TV.
Who said anything about CNBC Cash-N-Guns? This garbage was on every site I visited.
ok..ok…not CNBC…sorry if I offended…
The term “green shoots” has been replaced by “brown poops” for the foreseeable future. Please make a note of it.
You are all a bunch of kitchen bitches.
Cash-N-Guns,
You are right, Disney actually does suck in the summer except for the water parks. I always go in November or Feb/March. But if you do stay at a Disney resort which with Fly’s bankroll I am sure he will, you have the “Magic Hours” which lets you in the parks early and late so that helps.
And what is wrong with fat out of state housewives? wouldya?
It’s been reported widely that the Fly’s favorite ride is “It’s a small world” followed by the Peter Pan ride.
The Fly may buy Neverland and don a white glove ala his recently deceased idol.
Fly dont generalize…not all…alot yes.
Caveman…yep…fat sloppy used housewives..not me buddy…too much talent in south florida to even spit on the chubbies.
sickofjake says:
June 30, 2009 at 11:18 am
Hey Jake why dont you get a life!
Ironic, no?
(not that the anonymous douche would discern it.)
___
Fly — watching CNXT… still.
I always go to Disney in late April. I guess my face is going to melt off in late July,no?
Bought 5000 more TCK @15.95
Fly…bring an umbrella like michael jackson…yes you will melt in July…and get rained on every fucking afternoon at 3:51pm for 27 minutes…
Head over to Palm Harbor I will buy you a beer at a few local Tiki bars, with bikini clad half sluts.
LOL @ SRS.
BTW: The At&T network is taxed, due to iphone. Do you hamburglars know who benefits (I Do)?
My wife made all the reservations. I am not sure what hotel we are staying in. But I know it’s inside the complex. Melted face and all, I love me some Disney.
Fly just start the day with a few bloody mary’s and meds…you will be fine.
Just do the locals a favor.
No fanny pack,no eating giant smoked turkey legs, and no black socks with shorts.
TraderCaddy…excellent points..although i dont think he can avoid all three…
WTF ….Florida?? This board is full of trailor trash drunks…The proper way to vacation is to send your kids with wife to some sweaty shit box resort run by a 6ft rodent while you go somewhere exciting and cultured and fuck 19 year old local girls until your pelvis is black and blue…..
Here is somethin the V.King just did ….. 430m mountain in South Africa is the hardest golf shot in the world, and more than $US1 million awaits the player who can score a hole in one. (I shot Par)
Players must take a helicopter to the top to play the longest – and highest – par three on the planet.
Taking the shot also requires courage – a player needs to teeter terrifyingly close to the edge of the mammoth hillside.
Indeed, the Extreme 19th Hole is so high the ball takes almost 30 seconds to reach the ground.
The hole is based at the Legends Golf and Safari Resort, within the Entabeni Safari Conservancy in South Africa ‘s north-eastern Limpopo Province. The other 18 holes were designed by world golfing legends including Trevor Immelman, Sergio Garcia, Padraig Harrington and Australia ‘s Robert Allenby.
A round of golf – including a budggy and lunch – will set you back R450 ($A70).
The Extreme 19th costs is R6700 ($A1060) per four ball, that includes helicopter ride, souvenir cap and glove and a DVD of you playing the hole.
Fly, yes your face will melt off. It is damn hot that time of year in Disney unless it is raining ON you. But be sure to check out the water parks, they are pretty cool and will keep you cool. And if you are staying in the park, surely take advantage of the magic hours. Also the fast pass deal is nice and saves some time if you use it right.
Everybody come to Florida.
We need your $$$.
V.King- Those four tour players may design a good course but three of those four live in Florida for much of the year (Harrington doesn’t).
V.King…par 3 sounds cool…what club did you use?
V.King, for your sake I hope you are right but the hourly chart looks negative from here. Hope it doesn’t take out the 15.54. If it doesn’t take out 15.54 you may have something but it may not be in your time frame. Best of luck.
Yes Palm Beach is worth talking about… And dining with Nelson Peltz in his home is quite enjoyable,,or with the Hearst family ….But my dear boy like The V.King will never Venture to Orlando to sweat it up with a Rat and a Retarded Duck…. The first step in being Big is to start being Big
Fly, is that your commercial on CNBC. THat bald guy who says he made couple million dollars starting with just 30K. CHACHINGA!!
He also says his system works in bull, bear, tiger, panda markets.
I know CNBC sucks but that is the best commercial on CNBC by far.
Fly, you are freakin hilarious, you turn shit talking into a dignified art. this blog is the Sistine Chapel of talking shit. always cracks me up
Fly-
We are in a terrible downtrend still. Don’t pretend.
I don’t know what the big surprise is….Guy Adami told us the market was going down well in advance of today.
I’ve always maintained….that if we were staring at the end of the world in Sept. that we would not be rolling again for a couple of years.
I’m starting to believe that we are going to see sweeping changes in the way we do business in this Country. Some good some bad. Most of it won’t be good for equities.
V’king is kinda right.
I never participated in those Disney Family holidays in the hot stinking sun. Best to send the wife down with the kids and enjoy the A/c.
my better 1/2 is always pushing to go to south Africa but unless I had a 50 cal automatic to protect from the natives and the wild animals I’m never going. Too fucking risky in that shithole.
Fazio and I both shot par ….Used Callaway ft IQ’s he used his driver I believe ….I shoot long , I used a 5
Concerning my TCK I have set a limit to sell at 16.19
lol Jake @ way, way above comment
Dow will only be down 40 by 1.10pm
Fly,
Any word of advice on ENTR? Anyone out there holding XOMA?
mrkcbill was ejected from Disney last year for groping Goofy
Busch Gardens,TPA is a better choice. We live 6 miles from it.. Enjoy what you can on tour in MouseLand-your resort is only a a/c monorail ride away.
Watching CGEN for a 1.80 buy.
This is the one when we visited in March. It was kind of cold the first couple of days, but that’s when our Spring Break was, so whattevah.
If you stay there, make sure you do dinner in the nice restaurant in this complex… good wine list.
I think it was Victoria & Albert, but I may misremember… the other decent one was Citriquo or something along those lines. Make sure you get a winder (sic) seat.
____
mrkcbill:
You want change? You want change? You can’t handle change. But, its coming.
Have you read the Rolling Stone article on how Goldman Sachs owns the US Gov’t?
http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html
Are you sure it wasn’t Goofy doing the groping?
http://www.clickorlando.com/news/3734794/detail.html
VKing
Unlike you, I actually care about my family and enjoy the company of my kids. Perhaps you need to do a little inner searching and realize you are nothing more than floating garbage.
Bought some BAC and MS just here.
Sold Euro against Aussie and bought straight Aussie against US. Generous stop on Euro Aussie, tight on Aussie/US.
For the love of blue horse shoes, criminals were committing broad daylight shootings in NYC, when the Dow was last seen at 8,500.
thats haha funny. I like it!
DVAX running
Fly, yes your face will melt off. It is damn hot that time of year in Disney unless it is raining ON you.
Like N’Awlins in late August?
Still remember driving down there, not too long after I got married, and having to pull over, because you literally could not see anything out the window, no matter the speed of your wipers.
Got all the skeeter crud off the windershield, though.
_____
Jed, always likes to emphasize to new employees…”Hey we work hard but we play hard” followed by a fist bump.
Fly,
One can love one’s kids and not have to go to Disney and stand is the stinking sun. I’d give a limb for mine which is why they got the holidays, but dad hates the sun and fat butts.
Fly-There was an article in the Orlndo Sentinel the last few days (can’t find it online) but Disney is thinking of bringing back the buy four nights and get three free special they ran last Fall.
Be on the lookout.
Fly unlike me I am raising my own kids….. while you raise the garbage and Valet drivers…..
My children get plenty of love ….My wife, there AuPar, boarding school staff …have all been instructed to deliver affection to my offspring. So mind your own or I will smack you with a shovel.
The V.King
Fed says buy stocks and take big fucking risk. Well sort of.
The Federal Reserve has promised investors that zero interest rates will linger even if the economy picks up, said James Bullard, the president of the Federal Reserve Bank of St. Louis on Tuesday. Rather than focusing on rates, the Fed’s innovative asset purchase programs will be the central focus of policymakers, Bullard said. The Fed’s innovative programs to keep credit flowing through the economy could end next year if financial conditions improve, Bullard said. The central bank’s exit strategy may have to involve the actual sale of assets that the Fed has bought over the past two years, Bullard said. Other exit strategies are untested, he said. Bullard is in the camp of Fed officials worried that the increase in bank reserves could lead to inflation down the road.
They’re trying to push up GDP growth with the help of huge monetary expansion. That’s how they hope to close the deficit. It’s all they have and they’re going for broke.
Fly is correct about the kid and family thing.
One will especially realize this when the kids are grown up and out on their own.
IMO it’s the best time(s) of your life when you do stuff with your kids.
Let me rephrase the DVAX thing.
DVAX is getting jiggy on hope of imminent news on HEPLISAV, cause the company said they hope to have data within the first half of the year. They never promised shit about BY JUNE 30th so really it will get sold with no news (possibly) but then it will sink it’s claws in deep an drag the doubters over glass in the not too distant future.
Fly unlike me I am raising my own kids….. while you raise the garbage and Valet drivers…
You’re a charming sack of turd, Hornblower. The kids developed a drug problem yet?
V.King, having an AuPar [sic] raise your children is not the same as doing it yourself. Maybe you are being facetious.
Anyway, I have been spending the entire day trying to get my 3 year old to poop in the potty. Poor guy, he wants to so bad, but it messes with his concentration, I guess. Maybe he needs a magazine?
I’d give a limb for mine which is why they got the holidays, but dad hates the sun and fat butts.
Good thing you live in such a gloomy and cloud infested country.
Do you hate sharks and box jellies, too?
________
IMO it’s the best time(s) of your life when you do stuff with your kids
Kidding aside, that’s true, Caddy. Funny you say that, my older Kid is doing his final law semester in Nottingham this year and he announced this very evening that he was unlikely to live at home again. Kids live at home while going to university in oz .
Thinking back I wasn’t a real participatory dad and I have lots of regrets as they’ve grown up now , even almost shed a tear for my misgivings.
S&P up 16% this quarter, NASDAQ up 20%. Haven’t you bulltards ever heard the expression “priced-in” before??? How much higher can we really go???
C’mon fellahs… Techno Viking is either Chuck or another version of Ass Napkin.
My money’s on Chuck. By the way, there was just a big publicity splash on that 19th hole in South Africa, complete with Drudge links to youtube vids, etc.
Try not to be so obvious, Techno.
_______
Never waggish….How about we get to business…. Like China banning our products, N. Korea testing your affirmative action prez, Iran…what AIG exec said today about gov’t control…
Good thing you live in such a gloomy and cloud infested country.
Jake, there’s a freaking difference between a pleasant 80 degs and the florida inferno in the summer. Get real.
I live in Melbourne which is quite temperate… you draw a circle around 65 degs for most of the year.
AND GINT …the Fly knows who I am And I he…I trust you should settle down…Also i’m familar with Chuck…please don’t insult me that way again
ATHR and RFMD are studs. Props to FLY on those picks.
V.King is a waste of pixels.
ATTENTION BULLS:
Dennis Kneale just stuck a fork in this rally; “This recession is over, right here, right now, June 30th!”
Always got a kick when I was caddying and there was an Aussie in the group and I said nice shot,putt or whatever and they always responded with “cheers.”
Dennis Kneale couldn’t stick a fork in anything. Even if he was being attacked by a giant vagina!
He’s a world class Dill Hole I believe.
Also i’m familar with Chuck…please don’t insult me that way again.
ROFL.
Poor Chuck.
_______
If Dennis Kneale fell in a barrel of tits he’d come out sucking his thumb.
Always got a kick when I was caddying and there was an Aussie in the group and I said nice shot,putt or whatever and they always responded with “cheers.”
All the Commonwealth guys say “cheers,” even the Canuckistanians!
In fact, it’s become so common, I’m starting to hear Yanqui dogs use the phrase.
Not Southerners, of course, who are more assured in their colloquialisms (“Thank you, kahndlee”), and not the Noo Yawkahs, who tend toward the more abrupt solecisms (“Yeah, right, go fawk y’self)
_________
Wait, I think I know V.King. Oh boy.
GREAT NEWS FLY (and others)
http://www.marketwatch.com/story/new-etfs-let-investors-place-bets-on-home-prices
(yes, it was necessary to shout)
Wait, I think I know V.King. Oh boy.
It’s not “developing” is it?
Don’t keep us in suspense.
Richy, also, he could not get fucked in a women’s prison even if he had a handful of pardons.
Danny,
Yes, this is cool news IMO. Note I posted a PeeG post about it earlier today: http://www.ibankcoin.com/peanut_gallery/index.php/2009/06/30/housing-pricesa-forecast-new-etfs-trading/
I have done alot of analysis on the Case Shiller and on these ETF’s, you can take a look at my blog for more on that but I plan to post some PeeG posts in the future after these ETF’s trade a bit.
ahhh, sorry I missed that.
Did you see my reply to your candlestick color question in my blog?
GS…potential double top..couldnt happen to a bigger group of urban fuckheads…
Danny, no I didn’t see it yet but I will check it out. Thanks.
Here’s an Interesting article on chicken farmers.
http://globaleconomicanalysis.blogspot.com/2009/06/chicken-farmers-have-hearts-plucked-out.html
My cousin raises boneless chickens. When fertilizer prices were peaking, he said the chicken poop brought more money in than the meat. One of the nearby processors went under so a lot of chicken houses are sitting empty. This has had a big effect on hispanic workers.
Hold on… he raises chickens with no freaking bones?
Whatta they do? Flop around the coop all day, flaccid-like and bawky?
______
That is correct. No skeletal system. The beaks are like rubber so they can’t peck each other. Those are the chickens you see in the little tiny coops. They can’t move around very well, so they don’t need much room. ; )
I tell this to girls at the bar all the time.
The greater than expected contraction in UK GDP might have had something to do with today’s selling…? There are currency implications – weaker EuroZone stronger dollar – pointing to renewed deflation.
I’m buying into my dividend allocation tomorrow and taking the rest of the year off. 50% short gain is enough for me.