Tech and banks are leading the market up today, as oil and other commodities take the day off. I bought some VCLK back, after selling it higher last quarter. If you recall, they smashed numbers. Only God and his twelve elves know why it traded down after such a perfect earnings report.
I anticipate the asshole dip buyers to come racing back to oil, specifically refiners, starting tomorrow. If not, I might consider adding to them, despite their overweight status within my portfolios.
Into the bell, expect a melt up, as always. And, do not be surprised if commodity related stocks rally off of this post. Money managers tremble at the idea of taking the opposite side of “The Fly,” for I will rip their spines out and send them seaworthy.
Cordially,
Le Fly
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Everyone must be busy. WNR has been a roller coaster today. I also like BEXP right here after a 4% pull back
Indeud!
First!
FWIW, China Govt is upping Oil Prices when they open tomorrow http://www.gov.cn/english/2011-04/06/content_1839097.htm btw, I am still amazed, and I bet China Govt is so Pissed off about, about the strong rally Shanghai Comp had after they raised rates last night. Shanghai Comp closed at 3000ish which has been a resistance point for them before.
…it’s also possible the Chinese raised rates to show how misguided a fortune cookie The Bernank really is.
Big Dog…China really has a inflation problem and their repeated moves in the Interest Rates, Reserve Rate Requirement RRR, and Oil prices is just not slowing that train down. Cookie says “Many Rate Hikes needed before Clam is made into Stew and Yuan takes over the world as Global Currency”……I am so pissed off with USA risking global currency status over QEing. Buying our own debt each day is a Ponzi Scheme even Bernie Madoff would say say dammmn they got balls…We now own more of our debt, of course, then China and Japan does. Just Stupid.
Perhaps China should re-think pegging their currency to the $US.
But what have they done about their current account surplus and pegged currency? That’s the driving factor here, as told through the eyes of the great Bernanke. I am a firm believer with Ben that their persistent low pegging of the yuan is a major issue. It was the same with the USD and Franc in the 20s-30s and the Asian financial crisis. Although there were regulatory and fiscal/monetary layers on top of those situations, the large surpluses and deficits definitely play a role. All of that money China receives does not flow to its citizens.
Your best post ever nymphy. Maybe you should write fortune cookies as a side-job. 😉
raising rates has the counter intuitive result of increasing spending at first. lets say for the first 18 months. more or less, depending on how steep the rate hike is.
Indie, If that is true then China’s Housing Bubble won’t ease?
I think you have confused God with Santa.
God and Santa are the same
Whaaaaaa????
They both represent hope for those who require it. For the time traveling space magicians, there is only the realm of known.
I know one person we won’t be hanging with on the “other side”. Yikes.
amen. truth coming out of the magistrat himself.
i talk to santa every night and he talks back to me. he says buy more commodity with your CAD.
Ah, the Santa as God debate. Maybe I can shed some light here. Santa, like God, gives us gifts, like FTK. Both have long flowing white beards. The concept of Santa is used to introduce our youth to the notion of God as a beneficent fat white fucker. Ergo Santa and God are the same. QED
That makes no sense, as a child quickly learns there is no Santa. But keeps pretending to believe so he can continue to get the Christmas presents.
Exactly the same as pretending to believe there is a God so you can go to “Heaven” after you pack it in?
its kind of interesting seeing tech and the banks moving in lockstep to an extent
make the money managers walk the plank Fly…….. send them out to sea…….
Adding a little WFT before close….
Fuck yeah BOT more WNR at 18.55
I proclaim hogballs, sir!
Wicked treasury sell off today.
Bonds look nasty. Time for the Fed to pull liquidity and scare some people into treasuries?
If the 10 year inches up to 4% you can pretty much guarantee it.
yeah thats great sell more real estate to foreign countries. Especially in DC