Despite the worrisome action in California munis, I sense another turn is coming in the market. Using the new PPT breadth tools by industry, I can tell you that auto parts stores, dairy, restaurants and refiners are holding up well in this tape. I can also tell you that despite CSCO and the little chum fish that feed off her, today’s tape is not all that bad. Granted, I am taking a drubbing in HEAT (sold half yesterday), SNIC and FUQI. However, I am making lots of clams in FTK and EJ (#1 and #2 positions by size), putting me +1.76% for the day. You have no idea how big my FTK position has become. Nonetheless, I am ardently convinced it will trade up to $3, AND MORE, by year end.
Aside from CRK and BORN, I nibbled on some WFR down here. I played this stock, back in the day, from $9 to $90. It was one of my biggest winners ever. With RC giving it the green light and earnings behind the company, I have no problem buying it sub $15.
Aside from that, I like the action in FORM, especially considering its bountiful cash position.
Bottom line: The Gilded Era of POMO/QE2 nirvana is upon us. Do not let a little CSCO or soon to be bailed out Ireland get in the way of a perfectly good party.
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First Clam!
Can you make jam out of clam, and spread it on lamb? I think you can!
try spreading it on green eggs and ham
Green eggs and clam. Sounds like what you find in a witches knickers.
Next week is National POMO week. 15 – 16 – 17 -18 – 19. Much more behind that. WE even got a double popo day coming up on the 29. Cant fight the feds.
dude smells clams..must be next to a whore house.lol
iBankClam….developing?
I love the smell of clams in the morning….
FIRE! the boy is on FIRE…
Did y’all see the AAII survey today? Bullish % is highest it’s been in over 3 years. What would be even more interesting is if stocks move lower between now and the release of the updated survey next week and the bullish/bearish %’s go up/down, respectively. Then we could say “officially” that the dumb money is convinced that they won’t get burned buying the dips. It seems many are convinced that the next pullback will be both short in duration and shallow in terms of index points given back. Because of this certainty by many, I’m becoming more convinced that the next pullback will be both extended in duration and deep in terms of index points given back. Bring on the asshole dip buyers!
fid
The Euro futures could rise 120 pips before hitting any volume profile resistance. http://chart.ly/gj7kb7i . But, if we hit that resistance, the Russell 2k is a strong short.
Shouldn’t you be counting stupid megaphones or something?
As a blog follower and Fly style enjoyer for a few years now I will submit to you that I am quite happy to see the doubters getting FTK’d.
FWIW I have no position but the steadfastness and holding power displayed on these here intranests is magnificent
:golf clap:
thanks
listen to the call.
http://www.videonewswire.com/VWP/VDAT/frameset.asp?e=74396&w0=590&h0=0&w=240&h=70&sh=235&sw=350&s=False&ch=False&sm=False&c=False&c1=False&mc=False&p=False&i=False&pp=False&cp=False&v=False&a=True&sid=134818&aid=136192&pl=&pr=&u=4393401&pid=1&pt=2&pc=False&qo=False&hs=&cuts=6&t=Flotek+Industries+3rd+Quarter+Conference+call
I like his patriotism preamble.
this market is so f*ing boring.. everyone saying the same shit – bens got your back. you know this shit is gonna blow up in your faces , it’s just a matter of when. i got my cash ready to deploy bitches.
You gotta ride it up before it blows… kinda like playing chicken. Build the cash pile and sell just before the meltdown. That’s the fun way to play it.
Who said this is apposed [sic] to be exciting? It’s about banking coin. That is all.
My grandma used to make the absolute best spaghetti with clam sauce rest her soul.
People would come a long fucking way to eat her spaghetti w/clam sauce man
God bless your grandma and her clam sauce
Fly,
Quit your NY arrogant crap and get the facts straight. Your NY munis have been hit just as hard as CA (RNY, NAN) as well as every other national muni fund. Oh you don’t live in NY with the common folk, your Conn munis are being crushed also (NGO). They are just reflecting the fact that idiot brokers have put their clients in these and told them that they were just like a money market (based on your past, you should know all about that). Now that the bond market is moving against them they’re bailing as fast as they can and there aren’t any buyers.
ps this morning I had tree bark and pomagranates for breakfast! Lol!!!
Cali sux and deserves a vat of boiling oil dropped on it. NY would be the second course. I live there and believe me – there’s not a level of government in this state that doesn’t need a full azz kicking.