Here I am, sitting here in my gold throne, adorned with high grade diamonds and buckets of rare/priceless painite, grandidierite and jeremejevite, unable to find places to park my cash. Truth be told, as is always the case, I am very much interested in going long here. However, at the end of the day, I mustn’t betray my disciplines, buying into names that are in danger of an EPS cut.
Most of the tech sector is in grave danger of having dramatic (no homo) cuts, as well as retail. I love the balance sheet and numbers coming out of DECK, but wouldn’t be surprised to see a 15% slash in expectations, based around the idea the world as we know it is down the shitter.
Commodity related stocks are risky, due to the pervasive deflation plaguing the world. Should we have a credit event, oil will be back to $30, swallowing whole companies amidst debilitating and crippling debt restructuring efforts.
My conundrum is serious, one that will need to be hashed out by my calculator brain, assisted by my fucking space capsule. At a minimum, TNA is an option, as well as a variety of diversified ETF’s.
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grow a pair
man up you bum
Fuck everyone on this thread.
Fly, your thumbs system is lately acting differently than it has before. These Marthur and Chivo comments got a lot of thumbs up for stuff that usually doesn’t get thumbs up.
With certain kinds of computer systems, I suppose someone, if terribly interested in doing so, could put in multiple thumbs up on their own comments, or on those of particularly obnoxious commenters, making the whole system reflect only that one person.
the market will close green today …
Doug Kass tweeting potential end to Mark to Market for Euro banks, remember FASB 157. If this is indeed implemented, could spur a nice rebound in markets as it did in 2009.
when we ditched mark to market in the US, to no small extent mark to market was wrong. plain and simple, many assets that were paying were being marked at 40, 50, 60, even 10 cents on the dollar. ACAS had one asset marked to “fair value” at, if memory serves, $15-20 mil that was kicking off $12 mil of cash flow per quarter. THAT quarter. Mark to market in the US was greusomely failing some companies, especially BDC’s… Nobody in their right mind was selling assets, unless forced, at 20% yields when they were paying and expected to pay, resulting in some markets with only forced sellers, which resulted in actual severe damage (via regulatory and loan covenant issues) to many companies. Changing it ahead of time actually would ahve made, or could have made, a material difference to the economy and the fortunes of many firms.
In Europe, it could still help, but in all honesty marking Greek bonds back to par on balance sheets … it doesn’t actually improve anything…
The changes in the US were rational, if they just mark all sovereign debt back to par that is sort of the “mark to myth” that the bear-turds have been screaming about here for years.
I am hopeful for any help. I’ve little interest in raising kids into the teeth of a depression. Or, in fact, living in one.
But I wouldn’t bank on the same effect over there.
Truly, some (probably not small) part of the great recession was caused by mark to market as it existed back then. A tradgedy for all of time.
Well said Checklist.
PPT nailed it again today. So far so good.
I moved to 100% cash earlier today. I don’t feel like I have an edge on this tape, and trying to trade without an edge is like trying to beat the house in a casino.
WFM pulled a nice turnaround Tuesday.
how big are your balls? mine weigh approximately 10lbs 4oz…….BIG ASS BALLS
you should keep up with your pennycillin (sic) shots !!
What about the freaking TAAFFEITE??
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How about VMW it upgraded guidance and looks like a $100.00 roll . Have position now myself .
Vmw is on my radar
If dollar breaks $76 market going to 1100…then we’ll see who has the big balls.
best sign of the onset of the next secular bull market may well be a feirce stock rally in the face of a rising dollar…
its not coming tomorrow, or probalby next year. but it has happened many times. In fact the feircest stock rally ever, ending in the nasdaq bubble, saw a mega dollar rally…
Are there any food companies you like?
SVU, WINN, DF are all dirt cheap. SVU pays a good yield and appears to be in the midst of a pretty impressive turnaround effort under new management.
Gun to my head it sees 15 within 1-2 years.
HRL
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http://tradingstocks.me/ look here, i did this last week
typy in food stocks
Crikey!
Congress has returned from its summer recess and the ‘Super Committee’ is working overtime, giving the printing press a run for it’s money. Lmao…..
Mainlining ETF’s today……..
bot TNA sub 39 .. wait and see
TNA is in hypercoil mode. Own the 38 calls
@ 4, 6.80?
Relax. We may close out the day near the lows.
I am aligned with Fly for the moment…
I sold my GLD and TZA earlier near the bottom (missed it and bailed on the way back up). Held on to a small SPX put spread that is extremely ITM but yet still not paying me enough to exit.
I think buying is the right move, but I am outright afraid to do so. I don’t believe fundamentals/earnings are going to drive anything higher in the near term…and that leads me to my conclusion that things are going lower…but it sure doesn’t feel like we’re going lower in the coming hours/day.
Sitting on my hands for the rest of today and waiting to see how tomorrow looks before making another move.
GDP numbers trending over the past year show sustained strength in fixed investments, most likely bolstered by the IRS section 179 legislation as reflected in last week’s GDP report- “Spending on machinery & equipment (7.0 percent) was especially robust, as was investment in computers & other office equipment (13.0 percent).”
Since Section 179 will remain active for 116 more days, I think there are still opportunities within these two industries. These areas remain in my focus. As capacity gets built out in the form of machinery or computers, utilization and productivity should increase and industries dependent on those fixed investments should benefit. Machinery is easier to track what will use that excess capacity, but computer hardware/software is a little tougher.
Oil futures down, looking like a Head and Shoulders with 9.16 key time series.
went boating today, pulled in to a local restruant . met a guy who said “ive never run aground here”. my reply was, u never boated here before. lol. kinda like this market. ill get thumbs down for this but, i boat here alot…i know to not say never.
Germany Supreme Court rules tomorrow on constitutionality of the European bailout.
This is major event risk, the best for the bailout banker class would be a ruling that requires a budget subcommittee approval and not an entire legislative approval for Merkel.
German Supreme Court? Talk about oxymoronic. Remember a million people lining the streets while some mustachioed maniac screamed into a microphone?
Charlie Chaplin?
I thought he was talking about Freddie Mercury at the World Cup.
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I didn’t notice a mustache on Merkel, but will switch to the Hi-Def channel for her next speech.
Fly, do you still like JCP?