I am down 2.4% intra-day; but we’re going lower. Yesterday’s rally was the crossroads to redemption or hell. Market participants chose the latter and they shall get what they deserve and more.
Do not be tricked by the idiot Greeks with sticks. The market is going lower due to a lack of confidence in the President, the Fed and every other asshole in between. As much as I would like to ride my race car over your faces, it appears I am tied to the tracks of a railroad, cartoon style, as some jackass races to cut my head off with his train.
My leash is now short. If I have to take losses, I will. I am willing to give this market a little more room, before I start selling. I need to see some sort of courage before the day ends. I will be watching closely.
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first?
FIG
If you’re a long only kind of investor stay long gold.
My comment is also developing, but it probably won’t be worth waiting for.
I’m confident this market is going to the shitah. When we buying VXX?
Oh yeah almost forgot, first-er!
Fly, this actually goes along with your post this morning…nobody can fail and everybody is a pussy. When you don’t know how to lose, when you haven’t had to suffer defeat and pick yourself back up, how can you possibly know what the “right” things are?!
Our current leaders are all “victims” of a generation filled with people who think that if you hope hard enough, if you really really believe, it will just happen. They have no concept of reality, and when you’re talking professional politicians, they definitely have no concept of anything “financial.”
Unfortunately, reality is a bitch.
Actually, I will quickly contradict myself and say that reality is great…it’s just a bitch when you’ve been living in a mirage for all of your life.
We should bounce between 1249 and 1256. After that, it’s time to get out of the way of the train.
Yesterday’s rally was impressive but it was just (iv)th wave of C down. It did not clear 1291 pivot and rolled over to the (v)th to make new low at 1263 so far today. We should find a bottom between 1247 and 1254 where the bull will resume not roll over again!
the market fuck me hard today …
enter the vice….
One term president — what a worthless fuck
http://stockcharts.com/h- sc/ui?s=QQQ:IEF&p=D&yr=1&mn=0&dy=0&id=p66763005169
Ratio of low yield 10 year bond (IEF) allocation, vs allocation in (QQQ) tech
The Risk on trade, in tech, hasn’t been crowded long since November. Its been sideways and bearish for the better part of a year.
This is another reason that, when we turn up here, the Nasdaq could rally for 5 or 6 months nonstop. Fund managers are way too far on the risk off side of the boat
http://tinyurl.com/3dm9s9a
Had to compact the url to get chart to work
BUY CSCO!
CSCO? How about Microsoft and Yahoo too. They all suck.
MSFT has a deal with NOK, which appears fucked for a while, plus MSFT spent 8 billions for nothing
I do not see upside of YHOO with GOOG and AAPL competition
CSCO has a future
But MSFT just took their unsold zunes, and glued on a phone earpiece. Complete joke.
Does anyone on this website know why the US is at war with Libya?
I don’t and cannot find an answer from anyone, including my congressman.
Nobody cares….they bomb whoever they fuck they want for no damn good reason. Its hard to keep up.
To help the AQ and other extremist elements takeover the country.,
Raytheon had excess Tomahawk inventory.
I heard that Gaddaffi wanted gold in exchange for his oil. No faster way to get bombed today – either these dictators give us their oil for our paper or they will be eliminated. Getting rid of him would also help get the price of oil down w/o having to take down equities.
Nice “spin”. The U.N. is at war with Libya, not soley the U.S.
Where are the anti-war protests? Oh that’s right all of those protests were really anti-Republican protests more than anti-war protests.
Come 2012 you better get your protest parade signs ready!
It’s not the US so much as the Euros. They just don’t have any forces so they use ours and call it NATO.
Libya isn’t directly about stealing Libyan oil. Gadaffi had already changed over to accepting Euros for oil (Like Saddam was trying to do), and Gadaffi was about to change to accepting only precious metals and hard goods in exchange for oil instead of fiat of any kind (after the banks simoultaneously stole/lost billions for him in an instant. Google “Gadaffi Conoco Euro” “Gadaffi gold dinar” “Gadaffi JPMorgan” as starting points. It’s about ‘Merican hegemony. If some upstart poor country thinks it can make something of itself (independent of heavy handed US hegemony), then they get blown the fuck up. It’s fucking retarded, but its what the international banksters who control Obama want him to do.
France and UK suddenly felt like being tough guys again. We had to come in and babysit because they forgot how to fight large scale theater operations.
Come on!!! CNBC shows what looks like a Subaru with exhaust problems in Greece and we’re going to unleash the black swans…I’m staying in the game
So 3 years ago it was impeach Bush for invading Iraq and now it’s green light bomb everyone?
You don’t get it, all politicians suck. Don’t get distracted by the opiate rhetoric. Psssst Bush is more negro than Obama.
THE REVOLUTION WILL NOT BE TELEVISED!
What I don’t get is that no one is demanding answers.
Where is the news media?
Where is the outrage?
The media? hahahahahaahah. We don’t have any media. Read Rolling Stone magazine while its still legal. The average person the in USA is more concerned with the release of the latest iTard. These politicians are all the same….totally owned by wall street.
Yep… this comment rocks.
Rolling Stones’ Matt Taibi is one of the few who get it and report it.
“Psssst Bush is more negro than Obama.”
Leave it to a liberal to make a comment like that.
Liberal? I’m a fucking anarchist you ass-tard. The only difference between a liberal and a conservative politician is the issues their retarded followers argue about. Get your head out of your ass and realize that there is no difference between a democrat and republican politician, they are both fucking the middle class. GE doesn’t pay taxes. Welfare tards don’t pay taxes. The stupid fucking middle class pays ALL the taxes.
Why doesn’t the middle class get upset about being fucked so hard? Well we’re too busy arguing about don’t ask don’t tell, or abortion, or Libya, or whether Sarah Palin is retarded, or was obama birthed in grass hut in muslim kenya, or (insert stupid worthless shit topic here), the opiate of the political idiot.
So yeah, Bush is more negro than Obama, and Obama is more honkie than Bush, and they are both owned by the same evil institutions.
It’s not that politicians suck, it’s that they don’t have any real power…
1)Businesses pay lobbyists so they have a say
2)Lobbyists fund politicians
3)Lobbyist write laws
4)Politicians sign laws
To say “big business is bad” or “big government is bad” is essentially the same argument since big business knows that the way for them to continue to grow is to have a say in the laws that are made and stay one step ahead of things.
The Revolution will not be tweeted nor will it be on your Facebook wall.
True Conservatives vote for Ron Paul.
True Liberals vote for Kucinich or Sanders from Vermont.
Bush and Obama are part of the same faction.
The revolution will not give you sex appeal.
Now the Republicans in the House want to enforce the war powers act against 0bama! There’s some change for you.
NWO,,,,
I just drop kicked my BYI…up a stick and a half…off to lift arm weights and throw cinder blocks for distance
Stay away from the canadian bacon
BAC double bottom?
same as xlf – so far
I walked away for 15 minutes…looks like we might have bottomed and are coming back up?
This market is so fucking tricky and nervous. Any shit could happen from here.
I sold some Euros early this morn and just bought them back. Fuck it I’m going to bed.
yes, a worthless president and even more worthless ones waiting in the wings
While only The Fly practices an ancient form of Buddhist stoicism and wears a protective spacesuit, I still find it helpful to see a semblance of his pain threshold.
What (s)he said.
i been telling the fly that he is an aboslute idiot who prides himself on making money in the market through some ridiculous algorithm based on bullshits and fantasies. Just put all your money in to gold, silver, oil, agriculture, and strong currencies against the dollar and the euro and watch your wealth increase beyond your beliefs. I can’t tell you my secret formula to buying stocks but as u all know the only way to buy a stock is based on value. Any other form of investing is gambling period! most of you are stupid because you listen to a guy who writes in riddles and speaks about his life like a retard writing a letter to his retarded step cousin.
NO SURPRISE THOUGH, for every winner there are 1000 losers!
Tell that to my 1,000% gain last year.
BANNED
Blasphemy, the PPT is never wrong! Its takes all the risk out of gambling.
Fly…do you add to your TNA position here?
help !!!
help me !!! i see blood in the strreet
Act accordingly
Get out of Tahir square and go have a pita.
You know, Romney is a bone fide business guy. Hedge fund experience, ran the Olympics, got along with liberals in Massachusettes….. Mormonism can’t be much worst that Rev. Wright.
hell, what a great excuse for “owning” sister wives. oop’s, sorry, i mean mormanisim.
As if you don’t think the idea of owning sister wives is cool.
If you can’t respect “family,” you’ll never be a (/the) man. Be what America’s “F”athers intended.
If romney is mormonism is obama moronism?
Neither he, nor you, will ever know… . ….
She can’t go down, not with 3 barrels on her she can’t.
Aye Captain … She be tirin’ soon and then we’ll have our way with her!
LOL, you remember what happened next right?
Yeah, I got eaten by the shark!
Courage, Merry, courage for our friends.
Paragraphs and syntax are over rated imho.
Tell that to my sitemeter.
Practice makes perfect.
CREDIT SUISSE: IT’S TIME TO BUY EQUITIES AGAIN
15 June 2011 by Cullen Roche 15 Comments
Credit Suisse’s Andrew Garthwaite is sounding the bullish siren after the 8% decline in equities over the last 6 weeks. He says short-term indicators are becoming consistent with market troughs and that the odds of a bounce are increasing. In the note he cited the CS Surprise Indicator (similar to the CitiGroup Economic Surprise Indicator) and notes that equities have tended to rally 7% after readings at these levels
From a broader perspective, they remain quite bullish on stocks in the long-run and still believe equities have quite a bit of upside into year-end. They see a 1,450 target in the coming 6 months:
“Fundamentally, we remain bullish and stick to our year-end S&P 500 target of 1,450 (our US strategist is more cautious): a) we think this is only a mid-cycle slowdown and look for global growth of 4% this year and for US growth to reaccelerate to 3% in 2H 2011, with global IP momentum bottoming now, according to our fixed income strategy team and our 10-factor indicator of US growth recently stabilising; b) equities offer relative value: the equity risk premium is 6.3% versus our warranted equity risk premium (dependent on ISM and credit spreads) of 4.8% (potentially falling to 4.5% if the ISM improves); c) equities hedge investors against rising inflation, until inflation rises above 4% (currently inflation expectations are 2.4%); d) margins typically peak 7 months after the developed market output gap has closed and the non-financial profit share of GDP is below its 1950-70 average. We forecast 14% US EPS growth this year and 9% next; we estimate releveraging can boost EPS by 10%; e) equities are still underowned by insurance companies, while 85% of mutual fund flows since the start of 2009 have gone into bonds.”
Source: Credit Suisse
.
ROBERT SHILLER: STOCKS AND REAL ESTATE REMAIN GROSSLY OVERVALUED
15 June 2011 by Cullen Roche 1 Comment
Robert Shiller is certainly sounding gloomy these days and that’s generally bad news considering his positive track record of finding overvalued assets and warning investors in advance. This morning Dr. Shiller sat down with Aaron Task and Henry Blodget to discuss why he believes equities are 40% overvalued and why housing could fall another 10-25%.
This is why it is hard to have any confidence!
Ride your race car over your faces. LOL. I used to do that to my little brother when we were kids…
The problem is there is no catalyst to take us higher.
Fed is out of bullets at least for awhile. Housing, finance, the credit markets and Wall St in general all suck ass.
There is no tech or housing boom to pull us out of this. Philly Fed will be interesting tomorrow. If thats negative like the Empire today then this market is going to puke.
1250-1257 could create a bounce in the near term. Longer term We R fucked.