It’s truly unbelievable to me that Europe cannot hold another gain. Do not be surprised if we go negative too. This whole SocGen crisis, even if manufactured, is infecting the minds of investors. Without confidence in the banking sector, you will get a run on the banks. When you get a run of the banks, pandemonium (no Hulk Hogan) strikes.
I’d love to celebrate my Goldman upgrade of WNR this morning. After all, it’s not everyday when an analyst makes a smart call. Gasoline is much cheaper than it was a few weeks ago, but oil is even cheaper. The prospect for demand destruction is down significantly. Hence, the refiners are more attractive.
Back to the market. Whenever the true short squeeze hits, it will be insane. This shit you see here today cannot hold. It’s too tepid, too weak, to scare any short out of the market. We need another +400 day. We need it on monster volume and Europe needs to do their part. Don’t get me wrong; we can build from here and get to +400. But, we cannot fiddle around, +100, following a fucking -500 day and expect short sellers to cover.
They need to be slayed with African spears, bones ground into dust, ashes placed inside an urn, and then tossed inside a fucking incinerator. Anything short of that simply doesn’t get the adrenaline going.
Today’s tell is BAC.
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Fly – Can you please explain how “The prospect for demand destruction is down significantly. Hence, the refiners are more attractive.”
Could you explain how you managed to graduate from high school and acquire a computer?
because when oil was $100+, gasoline was near $4 per gallon. People tend to cut back on gasoline consumption as the price nears $4. Now that oil and gasoline have dropped. people can afford to buy more gas. Higher volume means coin for WNR. Plus, the spreads actually increased as oil dropped. A best case scenario.
I kept saying this all along. the best thing that could happen to the mid country refiners was a falling oil price.
Here in Upstate New York, gas is 3.75 a gallon and we’re all wondering when gas is going to drop. On the West Coast of Florida in places like Naples it was 3.65 a gallon and the same in Boston, Mass. Shouldn’t it be lower as it was about 4.08 a gallon when oil was above $100.
Another reason that I laugh when I hear these cnbc assholes talk about “lower gas prices” and how that’s going to allow me to go on a shopping spree at walmart and best buy. Oil goes down 20 dollars a barrel, and price at the pump is 15 freikin cents lower, and CNBC is celebrating a relief that never came to me.
Come on, who really stops getting gas when the price of gasoline goes up? That’s media propaganda BS. When the price of gas goes up, everyone still goes to work and still picks the kids up from school. They’re just more pissed about it.
We must rally huge today!!! you are right.
Dog is not going to like this thread one little bit.
Irrelevant
covering some of my BAC shorts here. Been shorting that POS for a long time, taking some money off the table
ive posted about food before , bacon at 12 oz, same price as 16 oz, a case of coke 20 same price as 24,,its been a slow grind. we are like frogs in a slow boil pot
dont even get me started
I ran across an interesting Buffett quote…….
“If we find a company we like, the level of the market will not really impact our decisions. We will decide company by company. We spend essentially no time thinking about macroeconomic factors. In other words, if someone handed us a prediction by the most revered intellectual on the planet, with figures for unemployment or interest rates, or whatever it might be for the next two years, we would not pay any attention to it. We simply try to focus on businesses that we think we understand and where we like the price and management.”
Now on the surface most would say…..”That’s nuts!”……but I tend to agree. Over the years I simply find more attractive prices in bad markets than in good ones. So in good markets I tend to lighten up and sit more in cash. Rinse and repeat.
Just bought a bit of GE. ABT next up is it falls a bit more.
As usual I hope for success for all………though DevilDog may not be on that list…….
he was also interviewed after the ge buy and said he should of waited ,
good luck dude. Thanks for the comment.
Thanks for the comment. However, quoting Buffet is strictly prohibited here, punishable by death.
Good to know. I will ban myself to save you the trouble…..:-)
RUT is lagging. Sell this rally.
Fly
you spoke too soon, perhaps?
That’s just kidding around of course.
I said we could build from here. We need a monster rally.
I actually reckon you need to annoying little rallies. They aren’t big enough on one day to get the shorts to panic. just nice little ones.. 40 80 points for a few weeks and then fucking whack. Those are the ones that teach those evil bastards a lesson, as they’re psychologically damaging.
You want the Dog around here for the next week or so abusing all and sundry, as the market teases higher getting him angrier and more hostile…. and then the big one which sends the prick back to his kennel in Dante’s hell for the rest of the year.
I agree, but what has changed since yesterday? Down 519, up 240+. Still up for the week.
I would love this market if I had more cash. Too scared to use margin!
Almost time for the bear hunter song?
not yet. HOLD, HOLD, HOLD (braveheart)
it concerns me when we open big, it seems we always get infront of ourselves
Open big? A 700 point gap would be big
Who would win in a fight? An african lion strapped with hand grenades or the Fly?
I’d laser beam him and take his shit.
For making a little statue of lion shit I assume?
dicka!
Fly even though you are one crazy gorilla balled bastard you are a voice of reason in an otherwise wacked out market
damn FLY, quick recovery… up at least 5% on the year now
I like retail here – bot some XRT.
Deeeev-el Dog! here boy, come on !………………………………………………..
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must be under the front porch licking his balls again..
We have the death cross on the SPX today. SELL ALL RALLIES !
WNR up 8 frickin percent
Tomorrow is Friday. If we don’t have a decent close today, it could be ugly tomorrow…
A close above Tuesday’s will have the shorts skullfucked
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