While you dine at your favourite [sic] eatery, Le Chateau Feces de Bear, your life savings is withering away. Like sand in the wind, you are allowing all of your hard work and effort go up in smoke, all due to your thick skull. Believe me, I know the feeling, being wrong and digging in your heels. There is definitely a case for being bearish, but not now.
Think about it: do you really think the market is going to crash? Do you really believe the architects of this economy will allow 230+ years of work to fritter away, thanks to some overzealous bankers? Well, there is an argument that supports the notion that it does not matter what the government wants, since it will happen anyway. The country has too much debt and we do not produce anything of substance. All of these things may be true: however, as a nation, we still possess incredible wealth, through investment, and other nations invest here because we are the gold standard. All of the talk of China supplanting the US, as top economic power, is accurate–eventually. But for now, we have a recovery underway and there is nothing you or your stupid friends can do about it.
My advice to you: cut your losses and invest in what is working now.
Thanks to a Cramer pump, my TEKELEC [[TKLC]] is vamoosing to the upside. My opinion, following the Cisco Systems, Inc. [[CSCO]] for Starent Networks Corp. [[STAR]] deal, TEKELEC [[TKLC]] , Ceragon Networks Ltd. [[CRNT]] and ADTRAN, Inc. [[ADTN]] are prime takeover candidates.
In other news, my POSCO (ADR) [[PKX]] has catapulted to new heights, trading above $114 now. I bought the sucker a week ago, from $99 to $106. This is a classic $100 roll. I discussed such things ($100 roll) in The PPT and put up a custom screen, so that you—the non-ingrate—may attempt to duplicate my success.
In short, I like the market and all of my positions. Let the bears eat sod, while we eat cake.
UPDATE: I sold 6,000 [[PKX]], north of $114.
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fig
Fly…
Any thoughts of taking some off the table here? Everyone (everyone) is expecting blowout earnings tonight/tomorrow. My thesis is that Goldman blowing the doors off is baked in here.
Your thoughts?
take some off, but leave some on.
Wax on, wax off.
Repeat
Clap on.
Clap off?
Le Chateau Feces de Bear
Is that in mid-town, Fly?
flatiron
The word vamoosing will not be used on CNBC or other 3rd tier sites today.
true.
Just bought 5000 COGO @ 6.80
In a news letter I receive the guy writes, Obama is bullish for stocks because he destroys real value.
My feeling… it’s just not him alone around the world.
CHIO
CHIO
CHIO
Anybody elses bid-ask screwed up?
Sloooow motion quotes?
The country has too much debt and we do not produce anything of substance
come on Fly,
we, America are the proud manufactures of J-DAM bombs, MOAB’s, Nuclear waste, Patriot Missiles, Liars, Ponzi Masters, Waterboards, High Frequency Trading, Tradebots, Crooked Politicians, and we have the largest mounds of man made garbage on the planet that you can find all across america in towns everywhere……
shoot, we make lots of stuff…….
Double top forming in SMH,INTC,TXN,etc.?
It was about three Friday’s ago when INTC pre-announced about 8:50 and the market gapped up and SMH,INTC,TXN etc. hit a wall at about these prices around 10:30AM.
Watching aand waiting.
What’s in the independent research report that just came out on DVAX?
It looks like it might run. Has opinions on how to view DVAX as a swine flu play if at all?
1100 SPX cash today.
EDAP btfo
I once visited Posco Steel in the South of South Korea. Biggest damn plant I have ever seen. My host made sure I wasn’t lonely at night. Good hospitality down there.
How was te kim-chee?
Dee-rishous.
One day I will be right!
what about all of the rest of your days?
Enough of the TIM bashing. Find a new target.
can we switch back to Dennis Kneale?
There’s always SOL and Attila I suppose
TIM is a nice guy despite not being able to trade effectively
If I had to choose between Tim who will lose 50% of my cash and miss out on a rally that would have tripled my cash OR The Fly who would be constantly cursing at me and putting me down, but triple my money…there is no doubt in my mind that I would choose The Fly.
Tim is one of those nice guys that seems to lose everyone’s cash…even his own. The best he can do is take few good scalps from UNG and maybe pump a small float stock on his board. However, he is no trader as nice of a guy that he is. He has no business running a blog that is related to trading if he can’t make dime one through a 50% rally. For Christs sake, I could have just bought the Spy and made more money then him this year.
One day Terranova will be right.
Out of swing play OCLR at $1.30 for 30% gain
Prepare — the bears will roar again
http://finance.yahoo.com/tech-ticker/article/353831/Prudent-Bear-David-Tice-Battles-Bull-Run-Says-Market-Will-Make-New-Lows?tickers=BEARX,%5EGSPC,%5Edji,SPY,DIA,FPGIX&sec=topStories&pos=9&asset=&ccode=
Too funny
As always, if it is true, the Fly will use his time machine to let us know. Meanwhile… more upside.
Fly,
I’m working with a partner to start up an iPhone/iPod Touch app company. We have developed a method for parsing news feeds and web sites and packaging them in a standalone app that is perfect for daily readers of sites with commentary, comments, and media. As a daily ready of iBankCoin.com I would love to work with you and Jeremy to put together a custom iBankCoin iPhone app. You have my email address. Let me know if you are interested or would like to know more about what we could do.
Jeremy (the other Jeremy)
One positive for Tim Knight’s site is that he has women posting.
We have none since Boca left?
This may be the don’t ask don’t tell site?
Whattabout Lindsay?
________
and don’t forget my buddy across the other side of the states- chanci– she is a gem with an eye for
stocks that is amazing
thanks jake– the slope has a couple of really strong women traders, but ibc is my home!!!
love and appreciate you guys, ibc and the ppt!! lindsay
(Trader Caddy– I was mostly MIA the last few months due to family illnesses and losses but things
are better now)
Hey Lindsay! (you’ve got to be about the sweetest trader out there), and there is Suzanne and Controller, too.
I do miss Boca, though. I would never have kept reading here if it wasn’t for her, way back when.
Also, what about Scumbucket bitchez (sp), I kind of really liked her/him. She/he was funny as hell.
yikes, sorry suzanne and controller!! are you in the ppt yet?– if you are please say hi on a thread in there as i don’t know your user names in there!
WTF happened to my post?
__
FAZ hitting new lows…….
speaking of this header.
on a second note, DRYS was doing well….then all of a sudden….
Are we going to have a ticker-tape parade at 10k? I’m ready to party!
History repeats itself:
I was gonna post a photo of Art Cashin in the Dow 10000 hat but the link is way too big…find one yourself.
FIG: http://ibankcoin.com/flyblog/2009/09/11/next-stop-dow-10000/
Will Fly be right AGAIN?
http://ibankcoin.com/flyblog/2009/10/12/10500-or-die/
(duh, that was a rhetorical question.)
anyone buying CY or AMD ahead?
Dow touched 10k. Cheers, gents.
I propose a toast. Raise your glasses, in honor of The Fly, our fearless leader. His genius has helped all of us. CHEERS to Dow 10k, and to Senor Fly!
Cheers. Long live Le Fly.
major major major cheers to our leader and the ibc team
TheArtist says:
April 29, 2009 at 3:07 pm
Jake, I will try to drive thru with a video camera and film this development up the road. It is quite the scene to see 108 for sale signs in a row, with 7 spec houses with 5 for sale signs (each near one million dollars a pop) in the front. I just drove thru again a minute ago. I will take a video camera next time. people have to see this, it has been this way for one year now, one year this month, when the last spec house was finished.
when I see a new foundation go in this very same development, I will consider the economy on an up tick. until then I will be playing the market with light feet.
I still believe thru sheer fuckery and lies from the government and the media that they will push the DOW to 10,000 from here before people really start to see the cracks and the spackling that has been used to try to cover them up.
_________________________________
this is a post I left back in April….funny, here we are at 10k, and those houses are still for sale, and not one of the lots has sold either….
2 far + 2 fast = 4 sure it can not last I hope my math is wrong
VISN might get that late day lovin.
Check out COGO before it shows up on radar screens like the PPT. Doh!
took some off the table until we get confirmation above 10K
Fonzi site is teh gay. Go long, stay long, eat tube steak, jump shark, blah, blah.
PPT at 3.00 yet?
Will INTC be negative by eod?
On market upticks it just sits.
Distribution?
To: Bean Counter !!
I must admit that those last lines were not only funny but also spiritual. Good comment guy !!
Have a beer !!
P.S. We can hardly hope such intelligent lines from an insect !!.
Funny story about Illinois town’s police cruisers being repoed.
Tough times (except for Wall Street).
http://www.cbsnews.com/blogs/2009/09/29/couricandco/entry5350588.shtml