If you are buying into today’s rally, you might as well do so while wearing a mask of a pig. Today’s pig-faced rally is nothing more than a small lesson to be learned, regarding gluttony, greed and how it pertains to short term investing. I’d be lying to you if I pretended to care about today’s rally. As a matter of fact, upon seeing the futures spike this morning, I made my way to the gym, in favor over lamenting in front of a fucking screen, bitching and whining about pigs and stocks.
Fast forward several hours and here I am doing bitching and moaning about pigs buying stocks. It’s nothing more than sour grapes, so pardon my candor. Also, it’s worth noting, my position is not bad. My only downside hedge, VXX, is down 4%. That sucks; but I have a portfolio of stocks screaming higher. As for TZA: it could be a lot worse.
Opportunity cost. That’s what is at stake here. The opportunity to partake in a little short squeezing is a coveted one. I regret not being heavily long today, so that I might press my boot on the necks of those who bet against me. Nevertheless, I still believe, emphatically, this market is nothing more than a time bomb, ticking away in the most whimsical fashion possible. It’s almost as if this exchange, between buyers and sellers, was designed by Dr. Suess.
For the remainder of the day, I will lament and feign injuries (ouch, my finger is hurt, I can’t trade); but I will not change my allocations.
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Rally of last resort.
It is an evil rally based on absolute falsehoods. And those who buy into it will certainly end up paying the piper in this very month.
Who would not take profits on a day like today? How could this market close at its very highs?
I do not follow.
there are a ton of people who watch financial news like CNBC and get caught up in the idea of stocks. Permabulls will probably buy more here, believing that the rally will bring stocks to new all time highs. They believe in teh easter bunny and crap. They say “2007-2009 was a fluke and once people start realizing it, jobs will turn around just like they were in 2005, and stocks will return to greatness. There are others, that only start to beleive in a rally after it’s too late. Then they tell all their friends pumping themselves up even more… it’s just how things work. Of course this will not lat forever. Cash is good right now.
Cash is garbage right now… stocks you bot at SP 666 are good right now.
bought just a smidge of BGZ at $13.75. Will add more if it goes to 13.50.
Truly it will take weeks, if not months to work off all this bearish sentiment.
What happened w. the EDZ position?
_________
I swapped it for TZA last week. It was posted.
I figured you were out… I just missed the switch-out.
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I will try hard to kick your balls
I will break legs, snap necks, and all
You will not bank coin, no indeud
Unless you have the PPT
Dr. Seuss probably had nightmares about the word “orange.”
Rhymes with “Panama”.
I went on a store binge to buy an orange…
Got my foot caught in the door hinge
went to the doctor and got a syringe
to fix my foot they fed me pourage in…
the hospital where the machine went “vrr-ringe”
I went home in the storm with avvenge.
went back with a poor wrench and sat on the store bench
fixed it then I went home with my orange
-true you have to “butcher” the proununciation of “orange” to O-ringe but it’s as close as you’re going to get!
Taste just like Chicken.
Red is my favorite color today….
Fly, do you have a target on GLW?
20
great call. terrific…
I am refusing to sell FAZ or VXX until the initial stage of a bullmarket is hindsight. Here’s to MGM and APC!
I forgot my pig mask but did remember to wear my top hat today.
Going to the gym is not only good for body but also the mind and soul.
I plan on watching how this rally plays out this afternoon before taking those piggish profits.
Upright walking pig!
PPT is at2.95 as of 1 p.m. So it is neither overbought. Nor oversold, right? What’s the rush to get out now?
FTK ripping
FTK rising from the dead.
thoughts on TLT?
Fly still buy TZA?
Added to today
Le Fly, you are being blamed for being a troll at Slope of Hope:
http://slopeofhope.com/2010/08/a-couple-of-changes-to-comments.html
OMG…he actually did call us out….
LOL. Who reads Tim. I do not.
I second that..lmao slope of no hope…
They got me today. Unless we retrench and end up only 1%, they got me.
I knew it on Sunday, i could feel it. But who knew they would do it pre-market. They are extremely wily.
oink..oink…..
http://www.youtube.com/watch?v=8F_G2zp-opg
I’m only 80% long, and think it’s not enough.
There’s money in sour grapes~ France wine people
Today is merely an orchestrated first-of-the-month huge broad rally day. It will be followed
by an even bigger decline day within the next three days – most likely Thursday.
Position yourselves accordingly.
What is the panic level of people in short positions right now?
patience young grasshoppers…this rally makes no sense
I am panicking.
My panic level is zero.
Started building into swing shorts after open. The “bullish descending wedge ” in the Dollar is extremely bearish for
this market.The only thing that could keep it from ripping higher would be bad
jobs data on friday.
But, Bad jobs number would hammer all retail, discretionary, housing stocks.
Bulls lose either way. 25% total short, currently.
if your position losing.. and it doesn’t make sense to you…newsflash… get the fuck out of it…
What?!!! I’m going to get my money back on FTK???
ripping tits higher
i shorted the tech spike…
sold fas @23.90…yes i am a pig
adding some VXX here @21.48
don’t be hero… heroes die by sword.
Having boatloads of fun being heavily laden with emerging markets…BIDU, EWM, EWS, EPP. Also EWA as developed market play on the EMs.
Your EWZ is working nicely, I see.
Adding to these on pullbacks. This may be the last big rally of the year, for the Fall is around the corner.