iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,446 Blog Posts

Relief is Right Around the Corner

I know this market is making you sick. Do not fear, the BEARDED CLAM is watching, blunt in hand, saying “I’m gonna get those bitches on Wednesday, GYEAH.”

Internals blow. Stocks, save AAPL, are being bludgeoned to death. I sold out of AMCC and BYD for losses. My cash, including treasuries, is around 45%. The pain is bad, but not nearly as bad as the pain you will feel when the pendulum swings back to the bulls favor. For now, I remain positioned strongly in MU, VMW, FFIV, TLT, CIEN, GSVC , LCC with a small legacy sized position in WNR.

Unfortunately, gold and silver is where the money will flow, once risk is back on the table. Stocks like AG, EXK and AGQ have melted the fuck up on almost every rally this year.

Best case scenario: the blood flows heavy into the bell, spilling over into tomorrow’s session, leading to a late day reversal into the clam on Wednesday.

 

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59 comments

  1. Marc David

    This headline could mean a lot of things.

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    • gsavli

      still quite undeveloped… hope it doesn’t stay like this, it sounds like a good read around the corner..

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  2. ruggyup

    As we all read here just a day or so ago, here’s a comment from Josh Brown: We’re a week or so away from the end of Q3 2011 and Wall Street’s analysts have spent the last few weeks slashing earnings estimates for almost all S&P 500 sectors.

    The question is whether or not the year-over-year growth estimates are now chilled out enough to account for the undeniable slowdown in the pace of business activity on a sequential basis.

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  3. London

    … and after this new minicycle of panicy angst has worked through, will “tech” still be the favored sector? Total reset. New strategy will be needed, flavor unknown.

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  4. stinkystank

    One has to wonder if The Fly (and Mrs. Fly) sit back at night with a fat-ass blueberry blunt and glass of something obnoxiously pompous. Who knows, maybe they rock 40s of OE?

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  5. noodle

    Pretty nice reversal on nasdaq to like the midground of the day. I am looking for more upside (not advice).

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  6. jammin

    fuck the clam and fuck your stupid shomping list.

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  7. Mark

    “Stocks, save AAPL, are being bludgeoned to death.”

    And here I sold my Jan calls last week thinking this market was going to roll over and take even Apple down with it. Grrrr….!

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  8. @Wahican

    Buying GLD calls here. Love the Risk/Reward right here although im prepared to loose money with this play.

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  9. Rainman

    The fed will do something truly unexpected… Shock value and wow factor mixed with a WTF, and a real gamechanger.

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    • jose mann

      is that what ‘shock’ and ‘awe’ is going to be …

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      • drummerboy

        the “shock” will be he’s gonna give someone some coin.the “awe” will be, it aint us.

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  10. Goldie

    Ben ain’t saving this shit mkt this time..

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  11. chuck bennett

    As I predicted before.

    We will be at war with Iran in the short term. Watch and see. Stimulus is needed, the claim will win.

    regards

    chuck

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    • DMG

      A claim is a claim is a claim.

      ; )

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      • The Equalizer

        …you claim,
        And if he is right then it’s fame he’ll claim,
        But if he’s wrong, there is no shame,
        Bernanke gets the blame!

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  12. TMoe

    TMoe short JOE on Friday working really well right now. Screw berkowitz

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  13. JakeGint

    Relief is right around the corner…

    First

    Majestic

    Silver

    Corporation!

    _______

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  14. Raule

    Who put the spicy lemonade juice in WFM’s ass today? (no hipster)

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  15. TeahouseOnTheTracks
    TeahouseOnTheTracks

    The Bernanke should buy homes from the banks and torch them … the damage to his balance sheet would be repaired by the ensuing inflation to his other assets from the conflagration while resetting S&D in the housing market.

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    • JakeGint

      Google: “Bastiat, Frederic”

      _________

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      • TeahouseOnTheTracks
        TeahouseOnTheTracks

        No broken windows … no repairs. He can burn paper or wood, both the same though burning the wood gets to the “root” of the problem.

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        • TeahouseOnTheTracks
          TeahouseOnTheTracks

          Maybe old man Greenspan was right … reset housing and win the battle for reflation with one stone.

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          • JakeGint

            Still destroying value… unless you can completely recycle every peg and pane.

            ________

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          • TeahouseOnTheTracks
            TeahouseOnTheTracks

            Ok, sell all for the taking to the builders but then why wouldn’t you just do what the banks should do … auction them off. Maybe the banks/builders won’t buy them all back and a few lucky tent dwellers will get some cheap housing.

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  16. TeahouseOnTheTracks
    TeahouseOnTheTracks

    Fly … what’s your avg cost on the MU position you bought last week, 6.85?

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  17. JakeGint

    Holy scheiss — my snark-tweet made it into the WSJ — Obama’s Twitter Disaster.

    ______

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    • TeahouseOnTheTracks
      TeahouseOnTheTracks

      Way to go “Jon G” … You got no respect from that conservative rag, Hahaha!

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    • Bullish

      Obama misspelled your name on purpose. That will teach you a lesson.

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  18. The_Real_Hmmm

    Bought some PCX weekly calls for a gamble oversold trade.

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  19. The Super Clam

    How you like me now, fuckers?

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  20. BanAlf.com

    Poor Alf his 5% gains have evaporated.

    Now as we rally into Wednesday, Alf is going to have to go back to flipping burgers.

    We are paying attention Alf, and we don’t like what we see.

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  21. TheArtist

    where are “the car people”!…ha

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  22. La Fayette

    Cramer having AAPL orgasms on the air..just like he did on NFLX…

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  23. DRAXWIN

    IF you are banking on QE3, I just laugh, clowns. not. going. to. happen.

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  24. pitbull

    Yo, Its time for the “who gives a shit what u mother f,,think.”..don’t u think ! ppt man w/ the time machine?

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