We’re not only climbing the wall of worry, but a wall of shit. Let’s call it like it is: the EU has failed. Greece, Ireland and now Portugal have been bailed out. Going with the old acronym, I imagine Spain is next, no? That’s the big one. Forget about all of this small fry stuff. When Spain fails, the euro gets fucked.
Well, until that happens, stocks should continue higher. Look at this mornings retail sales: better than expected, across the board. I told you, based upon 2012 numbers, the Dow should go to 14,000. It makes people very upset to hear that, only because they missed out on buying the bottom. When will you accept the fact that the market never deserved to be at 6,000? It was a one off event, sort of like when you dated that hot chick in high school for one week, until she realized you were a fucking dork.
HOC caught an upgrade this morning: big deal. The analysts are woefully behind the curve on the refiners. I piss on their estimates. I shit on their reports.
Having said that, I’ve been told that many of you have not been adhering to iBC’s strict dress code, when visiting this site. Remember, I am watching all of you and know exactly who is in violation of the law. When you get your face punched in with a jelly donut, don’t act all surprised and shit.
Anyway, it’s time to visit your personal jeweler (I assume everyone has a private jeweler), in order to diversify your assets. To go with your stock, bond, art and collectible assets, you should have a healthy reserve of diamonds. You can cash that shit in just about anywhere, like gold—only more stable.
During this morning, I will be ignoring the market, for it is starting to annoy me. I will “revisit” this shit around noon.
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got a couple of old fender guitars i’d like to barter for more wnr..fig mother fucker, and i nailed her in freshman year.:)
And I bank coin.
$BAC $GRMN $PNFP $RDN $PPT (money well spent…thanks fucker)
Maybe Krugmans right..holy shit all this sound money bullshit is putting me in a bad mood.
Off to get $5 cup of coffee.
Raylan Givens?
Marshall Raylan Givens!
Nice!
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I think AAPL may really bust to the upside at some point today. Just based on technicals (not paying too much attention to the re-balancing.
don’t forget 200$ oil will be here soon!
Not to mention diamonds can be doubled as working tools and primitive weaponry for the “2012 HOLY SHIT THE MYANS NAILED IT JUBALEE”
“sort of like when you dated that hot chick in high school for one week, until she realized you were a fucking dork.”
LOL – She told me it her not me when she broke it off. LIES
Classic line
I literally dated no one in highschool ha ha
I’m shocked
you are shocked by nothing
You must have not yet mastered the garotte arts at that point?
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Ha, f’n Jake!
I had to look up another word, but I already had in inkling of the flavor from past comments.
http://moonpans.com/signed/
More interesting than diamonds…
How wide is the crack today? My WNR wants to know.
Your WNR is drooping today.
look under oprahs’ dress,there’s lots of crack there.
LOL
Are the blue blazers complimentary?
Hey fly are you drinking yet like me?
I’ve already made 3 billion dollars this morning off all the small plebs in america.
Fcking idiots!
Like I said last night, heading down bitches.
Did the Japan aftershock just cause the market to dip? If so, time to buy.
Bought XLF @ 16.60 on panic dump as BAC,C,etc held up rather nice.
Homies held up nice, too.
A 3-4 foot tsunami?
My fat Brother In Law generates twice that when jumping into my pool.
Great post! btw I saw that hot chick from high school last week. She looks like hell.
Speaking of jewelers; ok I don’t have one, but I do have a long established pm dealer. I was there the other day picking up a few silver coins and another guy was there selling a set of sterling silver utensils. Top or not? I bet not.
Global bankruptcy, revolution, tsunami, government shutdown, Charlie Sheen and nuclear whatever. I’m taking another bong hit, counting my money and going back to bed. Wake me when the gold falls to $900.
but hydro will be 900 by then
Watch what happens to the market without QE. I am amazed at how blinded the bulls become after such massive rallies.
DOW 14k with oil rising over $110 a barrell??? Good luck with that.
lumber just did a major major puke,this is not good.
What amazes me is how the bears can continue to be so wrong and stick with the same end of the world thesis.
PERFECTLY PUT, Bullish.
The ones in the triple bear etf’s got quiet a long time ago.
Even if QE ends, that additional liquidity is already out of the bag.
That’s what I’m thinking. However if Bearded Clam ever starts selling his treasuries that’s a different matter. It’s the old liquidity in-out game. Like I do with my WNR.
Its called a liquidity trap which eventually leads t massive deflation.
Japan anyone? This rally is nothing but hocus pocus by the Fed.
It works until it doesn’t…
It’s all about oil. It is affecting everything now. Fuck the inflation talk on CNBC, it is here. Only Santelli has it right. It may not be today, but we are heading down in the near future. $110 is already too much.
I agree with you, man.
11:51 AM NHK reports 2 of the 3 power systems are out at TEPCO’s (TKECF.PK -7.1%) Onagawa nuclear plant. Fortunately, that means one system is working. Kyodo reports no abnormal radiation levels have been detected there. Comment!
WNR dips with the crack spread. I suspect this is just a short term dip, as earnings will still be through the roof!
Otherwise known as a quickie.
XLF at 16.66
woohoo
Railroads? Are we buying railroads today?
lol, OK more end of the World Thesis……Spain…85% of all home loans are Adjustable rates, rate increases will kill their property market and a F/X (foriegn exchange) trader told me, you need a property collapse to cause the pop…we will see. FOR today, Jean Claude Trichett used the words “very closely” in his press conference…which traders use to translate rate increases, but not uber every month stuff, so I expect the eur/usd to loose the bid over the next few days after this mere .25 rate increase…..SO agree with Fly, this is a Wall of Shit…but I have to learn the pieces that are needed to be in place when the Shit hits the Fan.
Talking about Shit, The FT Fincial Times Article failed to point out that about half of the Copper stored in those ports are being used for Short Term Financing Deals, which if Copper does start to fall hard could cause a Ugly Bit of Panic with those Players doing that. But Bottomline, Traders were playing the After New Years China will pick up Trade, which failed…now they are playing the Start of Construction Time, China will pick up Trade, which with Baosteel (One of China’s biggie steel Mills lowering May Prices) and think will disappoint again…anyway good article on copper http://www.ft.com/cms/s/0/05d0e5a8-6135-11e0-ab25-00144feab49a.html?ftcamp=rss#axzz1IrPIcXaD
“which I will think will disappoint”…I shoud proof read…and not just think/ramble write… oh well, but I am normally wrong, so it really doesn’t matter.
Ever read a good fantasy novel where gold was for kings, silver for merchants and elite class, while copper was for the serfs? It occurs to me that there are a lot of serfs in China. A “copper” is inherently worth more than a piece of paper with a face on it, and it is possible that China is taking all that copper in, partly as an insurace against fiat… As in, a Chinese nobody might prefer payment in “precious” metal with a stamp of Mao on it to toilet paper with his image as paper currency can’t be melted for use.
DR. Fly,
I was reading WNR 10-K. They say seaaonally the 1st and 4th quarters are the worst due to the nature of thier business. I know they store oil and benefit from rising oil prices, and crack spreads for the refining piece, so my question is will you be out before they report or is this a longer term view? With their Yorktown site shut down, where they able to capitolize on wider margins since production is cramped? I love the profitabilty per barrell for WNR, and i am bullish still,, i would love to hear your thoughts and how you will position moving forward.
Thanks
also open to any other WNR traders to comment
wnr is a the type of company right now,that has become a little more grown up in its sector of players. its in a sweet spot, and these kinds of companies that show this much growth and strength,and now so much attention are prime candidates for being a major,or a damn good buy out target.oil is going higher before its gonna go lower.
Any news on HEAT? Running back up today +8.5%
I like SOL here for long term all the way down to $8/share. Might start buying and if it sells more just buy more.