Today’s sell off is garden variety. It’s nothing. There is no pain being distributed to you jelly bellies. Let this marinate a little then the ZING! will sink in.
So you know, I will make money in my AEM, SPG shorts, despite the boom in CRE and gold. Things can get out of hand for a long, long time, as evidenced by the share prices of CMG, NFLX and CRM. That’s what I call multiple expansion. Cramer likes to remind people of how right he was, recommending those stocks. Trust be told, he had no idea those stocks were going to the stratosphere. It’s Resorts International all over again and no one can predict that. Buying NFLX is more than retarded, but reckless.
Having said that, I am long a variety of lotto stocks, due to their nature. They are outliers and tend to ignore the trend, as evidenced by the pin action in RARE EARTH and other Chinese stocks today.
Finally, there is much to bellyache about the performance of VXX. However, I am not delusional and do not expect it to do well during melt ups. Big mistakes should not conjoin with weakness, in the form of public displays of unhappiness.
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1st!
Yeah, market wisdom is either hard or expensive to come by. Sometimes both I guess.
Da Ra-jun Cajun and chessNwine are fantastic bloggers. One should reward them with a colored cape or maybe a fancy hat.
They will both get capes.
What about a #12631?
FIRST???????????
FAIL!!!!!!!!!!!!
Capes with cowls. Only the best for iBC
eighth.
FIST!!!!
Along with Tudor Jones the other must read today is Grantham’s quarterly letter
Night of the Living Fed!
http://www.fundmymutualfund.com/2010/10/jeremy-grantham-gmo-october-2010-letter.html
>>It’s Resorts International all over again…<<
Reminds me of a great old interview, with the most famous guy who shorted it:
http://www.thestreet.com/story/920199/the-itsci-streetside-chat-robert-wilson.html
I predict VXX with quadruple on November 9th
I know everyone here hates Cramer, but he was very right. You have to appreciate his conviction.
I’m sure the conviction is coming…ala Dan Dorfman…but the problem is that he is always bullish – yes, that makes you money during long bull runs, but does it offset the losses from buying the whole way down, and the continuous buying after the top??? From his own performance, no.
So you know, I will make money in my AEM, SPG shorts, despite the boom in CRE and gold.
Did you at least get a partial AEM cover at $69.00? I know you shorted some of it above that number.
__________________
Jake
I have covered nothing!
Good day to you.
You have to say it like this…
I have covered NOTH-ink!
Good DAY, sir!
________
Bullish
His conviction is equal to a broken clock
Read first:
http://mpettis.com/2010/10/xin-fa%E2%80%99an-a-modest-proposal-to-resolve-the-coming-trade-war/
Read second:
http://laist.com/2010/09/14/china_wants_to_build_californias_hi.php
FAUST!
MEPHISTOPHELES!!!
Forked!
_______
how to cope with being a terrible trader:
http://slopeofhope.com/2010/10/coping.html
They should name a psych condition in his honour [sic]. But it does remind me of my absolute favorite Market Wizards quote: “Everyone gets what they want out of the market.” I guess Tim is happy being miserable.
LOL ur long a lot of stocks. U fuck loser retard I told u last week that wen u got long I got shorter because u were a monster bear hat turned bullish near the top. That was the best indicator. Now i know tis sel off is for real I have so many short bombs that it will shit on ur portfolio of gay men staying long. u fukn faggat
Dad? Is that really you!?
Sir Fly,
I noticed that 35% of vxx shares are being shorted (from wsj.com as of 10/15/10). This is a lot right? Where are they trying to take it down to? Do you think when they cover the stock will bounce back strongly? You should take your billions of dollars in net worth and run a short squeeze! Finally, Barclays announced a 1 for 4 split of vxx is that good, bad or neutral for those of us who are long vxx.
Great quote from Bloomberg Radio: “You can’t hedge cheese.” Really.
especially fumunda cheese:P
they don’t go subtle while disengaging the bomb uh