Someone pulled the rug from underneath the market floor. I suspect the Goldman robots are pissed off at Congress for getting all McCarthy on them. As a result: massive sell programs ensue.
I sold out of TriQuint Semiconductor [[TQNT]] and [[TAN]] , bringing my cash position up to around 30%. [[TLT]] is ripping to the upside, as it is the preferred safe haven for investors. And, [[VXX]] is initiating lift off now. If the market slides here, [[VXX]] will be back to $30 in no time at all.
On the long side, fuck, I have a lot of exposure in a variety of names. The main thing for me is to be patient and try to avoid over analyzing today’s sell off. It happens and losses are part and parcel of the game. On dips, I have a list of names worth buying. With 30% cash and 9% in [[VXX]] , I am well positioned to weather the storm.
Are you?
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Fly
The also downgraded Portugal That’s the one they’re really gunning for now. If that one goes then Spain is taking too.
This shit worries me a little more now as it really does seem infectious.
It’s not infectious in the sense that Portugal, Spain, and Greece all made their own beds. If wolves are gunning for them all at the same time, it’s just to increase the likelihood that none of them get helped.
I really don’t understand why they can’t remain in the Euro zone even if they default on their bonds. Say Greece defaulted, the upshot would be that the bondholders would take a haircut of perhaps 50 cents in the dollar and the fuckers wouldn’t be able to borrow any more. Why is that so fucking bad I don’t know.
If doesn’t matter if you can balance your budgets, don’t need external funding, and have a trade surplus
This shit reminds me of the 07, 08 and the final culmination in 09. We have the sub-prime shit. and everyone says it’s ok. We have the Bear Sterns fuck up everyone says all okay. We have the Lehman clusterfuck and down she goes.
Greece has been festering for months now.. everyone is saying it’s okay and now Portugal gets downgraded. There’s no money left for Portugal and Spain let alone Italy.
The real serious mess is going to come from the currency side as there could be a currency crisis in Europe fronting up. If the Euro heads to parity it really tightens monetary the US and elsewhere causing another mess.
Time to be really wary That;’s all.
I don’t think it’s so much a matter of them not being able to remain in the Eurozone as it is they simply won’t want to. Remember, if they return to their national currency, then they can proceed to devalue the shit out of it. It’s a quick solution to their problems. This fiduciary approach takes a lot of effort.
Holy dog shit, the VXX was the right move! At least I paid attention to the TLT move… it would appear The Fly does not, in fact ever lose. Can’t wait to see this week’s Devildog episode.
Sour grapes maybe, why are the witnesses ducking and playing stupid.
Downgrades of portugal/greece-and sellers still can’t break friday’s lows.This is why you don’t pile short into a 4 month old trend.
Still think IWM heads downward, swingwise. But, euro shorts are setting up to get themselves squeezed over next 48 hours.
friday’s EURUSD lows–1.3200
As long as we stay above that, euro is showing extreme bullishness here
Let GS be your guide.
Anything with “gold” in its name is a good bet, btw.
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tole ya
sell sell sell
dont doubt da noodle
Congrats on being the first to call this selloff for what it is.
Small door, lots of elephants…
Buy the dips. It’s time to get our 40.
more like a 40 smashed over your soft skull,
big bear style.
http://www.40ouncebeer.com/pics400/bigbearbottles.jpg
I’m sorry that was a asshole comment from me.
I mean to say :
“Please do be careful, Mr.Huggie!”
Thank you for your concern, noodelboy.
Awesomely cynical Madoff thousand dollar bill illustration.
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VXX ftw! That shit is too crazy for me.
It’s going up today, but it’s still stupid. The VIX is significantly higher now than it was when I first bot VXX. I averaged into it to lower my basis, but then decided it was retarded, and sold out. Had I held on, I’d still be down quite a bit. Some of the inverse ETFs show higher correlation with the VIX than VXX does. I swapped out of VXX for EUM and RWM.
Sitting great in radio stocks – SBSA, EMMS, SBGI, ROIAK – that are getting takeover bids, and a very large TWM position…also looking to buy some CALX & MXL on this pullback – two hot IPOs that investors are panicking out of now.
I’m positioned to take a dump on the Pai Gow poker table that stupid bitch of a politicain is gambling on.
Short BCS, Short FXI, Long GLD….as my hedge
Congress is doing a great job making themselves look like “shitty” lawmakers.
Embarrassing.
We are responsible.
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Does Claire McCaskill “shitty” outburst invoke Howard Stern obscenity fine for CNBS?
Congress = Shit-tards..why be surprised at the level of incompetency from a skank from Missouri.?
Isn’t she the one that glommed the seat because her husband (another asstard) croaked it?
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not sure..but the fat pig should be flogged with extra crispy fried chicken legs..then made to walk home
Thank you program trading computers for buying all my SDS at the close. Since you sold me so many shares on Fridays close I had to unload into the bots again at today’s close. I am now going to Jamaica.