One day removed from S&P’s dire warnings over the United States’ credit quality, stocks ripped higher, as Ben Bernanke did lines of home grown blow off of his favorite printing press.
I recovered all of yesterday’s losses, gaining more than 2%, on the backs of WNR, MWW, X and OXY.
My refinery stocks are “Costanza trading” by responding inverse to the crack spreads. That makes no sense, whatsoever. But I will not complain. The important thing to note here is the market spit in the face of low end credit analysts at Standard and Poor’s. There is nothing imminent about their warnings. Therefore, it’s business as usual, with POMO and QE3 on the front burner.
Basic material stocks are in play here, as investors hedge against the demise of the dollar. There is no better sector to have my money than basic materials. Everything else is simply too hard.
Going into earnings season, look for outrageous results from a slew, mind you, of oil and gas companies. One of my favorites is OXY, so there.
Consolidating all of my thoughts into one sentence, I will say this to you: bet against refiners and lose your fucking house, car, and wife— as she will leave your ugly broke ass for someone with coin.
[youtube:http://www.youtube.com/watch?v=ntmZM4f_NrU 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
Fifth.
…of Scotch?
indeud
BHI cold rippin’ shit up the last few days.
I just love it.
Tomorrow all ratios will be restored just in time for the long weekend. All the relative trading discombobulation shall be rebalanced before any egg hunt takes place.
SLV, DYNT, WAB, WNR
its all good.
Seriously.. why should anybody give credit to Standard and Poor’s ratings? They have won over 20 court cases citing the ratings are “an opinion.”
And as they say, Opinions are like assholes. Everybody has one.
Bernanke’s opinion is the only one that counts.
The Bernank for Prez
Fly, Do you choose which ads go on your page? That iPad 2 Case/Keyboard looks amazing.
The Zaggmate? Looks very nice, maybe I’ll buy one.
It’s random.
Fly, I figured you had to be right about WNR yesterday, so I bought some. I made coin on it today, but, since I didn’t sell, I didn’t bank coin.
I don’t know about the rest of you, but I’m seeing a lot more crash calls on the finance sites lately. I keep hoping that any crash will not include the stocks I’m holding. The last time I hoped was when Barry O ran for President. All I got was change–change for the worse, by the worst. When it comes to the market, I hope that this time it really is different.
You know MC Hammer is a principal investor in the zaggmate..
I did.
The Google bot tracks what you have recently searched for and pops up an ad appropriate to your previous search or wherever you may have been cruising.
That’s interesting. So everyone gets a different ad?
I have a VectorVest ad now… I know I never searched for that one.
You’re on a website geared toward what some would call investing………….
Prior to coming here I was conversing with a customer on a forum geared toward boilers. Wood burning boilers to be precise. The ad that popped up when I opened this page was for a ……….drumroll here………….wood burning boiler.
That’s better.
Jack Welch did say that having a lot of coin is like being 6′-0″ tall with a full head of hair.
Michael Jordan might disagree with Jack Welsh.
You have missed the point entirely.
No, that was an attempt at spreading a little levity. I had no idea that this site was for literalists only.
I’m talking about Jack Welch, not Jack Welsh dip shit.
You really are a pedant. In fact, you are so anally retentive that you’ll probably look up the term to check to see if I left out a hyphen.
Jack Welsh the jelly king?
or this Jack Welsh?
From his bio:
What I do:
I am interested in creating new sculptural forms that offer possible narratives that draws upon the reference/use of existing objects and materials.
These forms/objects thrive on the tensions of the relationships between the constructed forms and found materials present in my work. I aim to manipulate our knowledge and understanding of the systematic value and perception of specific objects.
Chance is often an arbiter of my work and decisions are often dictated by the conditions of production. The importance of materials that I use/find/gather often have a critical significance to the reading of the work alongside evident geometrical and spatial concerns.
The creation of these new forms is paradoxical in that whilst the objects are often heavy and cumbersome, they are balanced or propped at odds with their state of existence – the threat of failure/collapse every present.
(cough! ) (cough!) (Bullshit!) (cough!)
_________
________
No, it is Jack Welch, the ugly little troll of a GE CEO, who was the king of outsourcing jobs to China.
It was a funny quip, don’t let anyone slow you down.
What’s On Your Mind, Jane ?
http://youtu.be/4KKXektRX3Y
Damn, I did leave out a hypen…sorry about that “dip-shit”.
What’s a hypen?
I wish I was born rich instead of so damn good looking.
Maybe not. You can get rich, but ugly is forever.
You can always improve your appearance if you have enough money. There’s Michael Jackson… and a… never mind.
CVI? What ever happened to asset allocation? You are way too invested in Refiners right now. I know crack spreads are at record levels, but don’t you think they are going to come crashing down like they have in the past?
If you read the earlier blog posts, the author clearly states that he has a very high conviction in the refiners due to the crack spread. He brazenly added to his favorite refiner positions when the market was saying otherwise.
This is what real conviction looks like.
I mean if you want to “play it safe” and “stay diversified”, maybe you should follow cnbc and buy a suze orman book. No one would think less of you.
speaking of Poker:
http://www.youtube.com/watch?v=XYiy7L1grVk
Nozzle rage— funny video
http://www.youtube.com/watch?v=zSaZ5v1eW5I&feature=player_embedded
When she leaves me for the guy with coin, her luck will continue — the guy will turn out to be a transvestite with the clap, his coin will be Cuban and the “it” will be a democrat.
File under you heard it here first………..
Spring planting for some crops is running 14 to as much as 20 days behind normal. Most around here have all their tillage work done by now with cool season crops in the ground. Another week and much of the corn starts going in. That is not the case this year across much of the northern tier of the ag region.
I was through Ohio, Indiana, Kentucky, Tennessee,Wisconsin and Minnesota within the last 10 days on business and saw very little activity in any of the crop growing areas of those states. Fields are flooded and little tillage work has even been started. (There was also a butt load of CRE with vacancy signs on it around Indianapolis)
The two week forecast for the upper Midwest doesn’t look like much warmth or drying will occur and that will put things squarely behind the 8 ball in terms of getting seeds in the ground. Keep your eyes on the weather for the next month. If this cold/wet streak hangs on we will be looking at $7 corn far behind us in the rear view mirror very shortly.
As I type this it looks like the MIDDLE OF FREAKIN’ JANUARY OUTSIDE my radiantly heated domicile. They are talking 6-9 inches of mixed snow, sleet and freezing shiza for our location over the next 36 hours. I am beginning to wonder if there is a known pattern of weather for the midwest ag region when coming out of a strong La Nina cycle………..??? Where’s DR Cane when you need him???
Now we need someone with citrus sense…food->good….I don’t recall anyone here really talking perishables…corn/wheat…oil and gas is about all . Thanks for info, I’m stuck in the new arctic as well
West coast’s ag appears typical as April 1.
West coast is in good shape with abundant rain over the winter months. Reservoirs are at levels not seen in many years so water should not be an issue this year in the central valley. Barring onions and lettuce mutating into plants with eyes and walk, due to the radiation blowing over from Japan, ag in Cowleefawniah should do just dandy.
A poor or even below average corn crop in the US following all the other disastrous failures around the world would have the commodity people pissing their pants with excitement.
Point. Consumer non-cyclicals perhaps? Buffett doesn’t have s*#@ on SEB (for example).
Keep in mind Manitoba is flooding, with the potential for Saskatchewan to fall victim to the same floods. So there is s low probability the soil is so saturated that 1/3 of the world’s corn and wheat supply has a terrible season.
Much of Alberta too.
Exacltly…. Fuck S and P
Rating agencies are sooooo 2008…
All this partying like it’s 1999 will not end well. The Bernank and Obama have teamed up to explode confidence in the dollar, while not fixing the insolvency issue of the US govt. For those of you bean counters out there, GAAP-based accounting puts total federal obligations (including Soc Sec and Medicare) at over $76 trillion, or more than Obama’s re-election campaign fund. Seriously, that is more than 5X U.S. GDP. That, friends, is insolvency.
Taxes cannot be raised high enough, nor enough assets confiscated through dubious means to bring deficits into balance. Washington is bankrupt. Short of growing balls and an iron will, our government reprobates will opt for the easy solution of cranking up the currency presses, a la Bernank-style.
QE3 is coming down the track.
All this means is that we are headed for hyperinflation down the road—-within 2 -3 years tops. Stocks will be ok for a time, so get all you can, but don’t give S&P the finger, as their call did more good and is probably giving people enough notice to begin to prepare for the inevitable—a total collapse of the dollar and the loss of reserve currency status, not necessarily in that order.
There is no stopping this train wreck. The only thing you can do is jump off at some point. Kudos to S & P for speaking the truth.
The Emperor has no clothes.
“QE3”???
Not without the Fed stopping QE2 and seeing what happens.
It will be a rinse and repeat of August of last year where the S&P sold off 16% after QE1 ended.
I don’t expect the “bearded one” to let the markets down for long tho. Expect QE3 by year end in order to stave off another recession.
We are range bound until the Fed announces it’s QE plans next week IMO.
“Consolidating all of my thoughts into one sentence, I will say this to you: bet against refiners and lose your fucking house, car, and wife— as she will leave your ugly broke ass for someone with coin.”
Lol.. That’s the funniest thing you’ve said for the week.
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