After yesterday’s orgy of degeneracy, I’ve decided to, respectfully, bow out of the stock market for the day. I have a bunch of fucking positions that I didn’t want in the first place. It’s as if some pervert with a knife forced me to buy all of this shit, as I panicked the fuck out of VXX and into a goulash of gambling stocks.
I still have about 10% total short exposure, which will be dealt with at my earliest convenience. Although I didn’t take a big hit yesterday, I am now positioned to get punched in the liver, providing we trade down from here. But that’s not gonna happen is it?
The Fed has the longest line of cocaine, stretched from Maine to San Diego and Wall Street has the straw. QE3 is Bernanke’s gift to Wall Street, as no one else benefits from such a punitive act of injustice. The average Jack ends up paying more in gasoline, heating oil and groceries. And we get to live high off the hog, long millions of dollars in commodity stocks.
I don’t give a fuck.
I’m gonna do some “channel checks” today because I’m a fucking psychopath. I am going to take ridiculous anecdotal evidence and apply it empirically, ’cause that’s how I roll.
NOTE: GRPN is coming public today. It is going to ROAR. GSVC is the only publicly traded company that owns a piece, albeit it is small. Nevertheless, a successful GRPN offering opens the door to other companies on the fence to iPO. Either way, a net positive for GSVC, one of my long term positions.
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does that mean you are going shopping?
We going higher from here. If you sell where are you gonna put your money. This in and out will only make you Chase at Dow 14,000. All corrections are intra day. There is time to jump on the choo choo. This market resembles the March 2009 lows, where all dips are bought.
DOW 30,000
Just a reminder during oct 2008 we saw a week gain of over 11% and everybody thought the market bottemed and guess what ? from that point it went down about 45% and then bottemed
YES. I remember it vividly. I have the same concerns as you. It just gets lame talking about them as the market continues to trend higher.
the difference between then and now is we are in the midst of having the world flooded with money. Back then, everyone got caught with their pants down.
huggie, also back then the we were bailing out corps, now sovereigns, and the sovereign plans thus far are pretty lame. Not goign to argue that we move higher, just different times and bigger numbers.
other thing has me thinking short pop then a drop. all the hedgies and other long managers I have talked to say Risk On.
Of the distressed nations, who’s printing right now?
Japan. Australia, apparently.
But the U.S. and the EU, who are in just as much debt, do not seem to be printing right now.
Scratch Australia off that list, I forgot for a second that I was talking about nations with distressed debt.
One point I don’t get. If US GDP is at 2.5 %, SPY at 1300…it means no QE3, no more liquidity, right?
i think a dose of some scott bleier is needed right now. hey scotty ,you out there. marco………marco
Im ready for some Scotty B as well. I want a post in all caps, so I can feel the fury through my monitor.
Scott has missed this rally because he is too scared and too cautious. Sometimes you have to ignore the noise especially stocktwits and risk some money. This baby is headed to 15,000 Dow.
i visit twitts maybe 4 times a week. and what was yesterday, really.
Lol you ass clowns, the high at 1308 was reached yesterday last short squeeze & profit taking. Copper even put a short term top yday but I guess that useless PPT that you noobs copy off like a bunch of elementary school kids who cant pass their math exam forgot to print that up. 5-8% correction from SPY 130 before we rally again in Xmas.EU will rear its ugly head again next spring and well be below DOW 10,000 by Summer. Your drink is on the table retards.
BANNED
And yours as well —
BANNED-tini, extra-dry. Shaken, not stirred.
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Empirical evidence…provable fact that shows questionable results…sounds good to me.
NFLX IS DEEPLY UNDERVALUED
CMG short based on double top not to mention burrito stand with a 53 p/e…sounds like a short to me.
Watch, like clock work, the market trades down today and ALL OF THE FUCKING LOSERS crawl out from their couch and say “bahahahah, yesterday was the absolute top. We’re going so much lower.”
You can go fuck yourselves.
Take a chill pill chief. The dollar broke down in a significant way over the last couple of days. That means there’s something going on outside the headline news w regard to the Euro situation.
It’s highly unlikely it bounces in any way more than a dead feline manner here until at least the July and or August lows (i.e., sub $74 on the index).
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in the meantime this consolidation day is super boring.
Contrarian analysis no longer bullish on stocks.
http://www.marketwatch.com/story/wall-of-worry-gives-way-to-slope-of-hope-2011-10-28?
You can send Mrs. Fly over to Whole Foods to do a “channel check” on the locally grown, sustainable,organic products that are unadulterated by artificial additives, sweeteners, colorings,preservatives,and taste.
I am going to take ridiculous anecdotal evidence and apply it empirically, ’cause that’s how I roll.
LOL. Peter Lynch just called me from his personal island in the British East Indies and said to tell you “Me too!”
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I think we can all agree that it is time for The V.King to be awarded “Tabbed Blogger” status. AND we all know which blogger should be voted off the island….Developing
You are the laziest blogger in all of the world. Why would I ever tab you when you don’t even have the common decency to sign up for the Blogger Network?
Typical German bullshit.
Well played.
I concur, and you even cheat while doing push-ups.
V-King is German?
Not Norwegian?
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German and Scandinavian
Mr. Flyaway
Shut you hole. Your opinion is like your life ….(wait for it) … worthless. (unless you read my blog)
Well I read a lot of your blogs here, until PG was nuc.’d. Wo kann Ich under oder ubermensche gehen fur sie leheren? Where can we go to read more V.King?
Watch out, there could be a V.King revolution!
Ok. I’m officially tossing my hat in the ring for tabbed status as V.King has been sadly denounced.
But I do have high compensation demands, I require some gratis IBC gear (at least shirt and mug) for my joyously ominous contributions.
(laughter) Wait, give me three guesses…
fly-ask the mrs. for a bottle of 05 latour for anniv gift. or a maybach.
old lady fly aint gettin him shit,till he tells old man deluca to stop throwing meatballs at the gardner’s,cause their eatin em
The big question is this:
Are we still in the bull that began in March ’09, or are we in a bear that began in May ’11?
I don’t know, but we’ll probably find out fairly soon.
Since we usually have a 4 1/2 year cycle, 2 1/2 years up and 2 down, this cycle should end near the end of 2013; and the 2 1/2 years of bull are about over.
Unless Ben keeps PRINTING like he should.
actually,once we break the dow 14.5k we bee’s out of the bear
Should happen by next Wednesday.
Fly – why don’t you send out e-mail updates with your posts? WTF
Long and Strong Silver, Gold – all that shit…
Go drink some fine red wine tonight and take a drive – in that order
i can do that.
I don’t know guys… I’ll say we pull back abit or trade sideways because we are overbought then off to the races throughout the reminder of 2011.
Bear in mind, the “smart” strategy was to be bearish or in cash. Lots of managers will feel the need to “panic buy” as they are under performing. Seasonality too on top of that helps bulls.
I get the feeling however, next summer we are going to be in the same shit.
OK, so I was expecting a little bit of a pullback in $TNA at the open due to futures being slightly down. I did not expect a fucking 5% gap up at the open for sure. How the hell does that happen?
seriously, whats up with TNA and TZA this morning?
God damndest thing I’ve seen in a long time. This is freaking insane.
I think the “closing price” from yesterday is a glitch. That’s what I am hearing, at least.
I am pretty confident that this is true, as I’ve got a little TZA right now (ugh) and the market value of my holding did NOT get shot in the groin down 5% overnight
It looks like you’re right.
Hell it looks like all quotes from yesterday’s close are ftucked up. Every stock I checked is basing today’s move on a much lower close than actual from yesterday.
Must be nice to own a stock quote service. They all have in their contracts that they are not responsible for their glitches. Everything they put out can be completely effed up and wrong and they bear no legal responsibility to people using their data.
consolidation. see how we digest. or we reach for da brioscci bottle
The upper level of the George Washington Bridge is closed due to multiple accidents.
This was a PSA.
4
NFLX up 4%, GMCR up 6%, AMD 8%.
Somebody is covering shorts here big.
In times like this – look to the charts – there is a clear inverse obtuse reverse head & shoulders followed by two balls and two feet – we go higher!
Hmmm…I think we finish green today…around 80ish point on the DOW.
We are holding 1276 pretty well…
GRPN is next week, not today.
So when does the Groupon IPO come out? I don’t see the ticker on yahoo or google.
Feels like a lottery. In yesterday with QPSA and today, olé!
SO … are everyone’s quotes F’d up are is it just me ?
WTF
.
Men of Burlap, short here if you have the cajones! I’m longgggggggggg!!!!
Some of these etfs are a mess.
Some mispricing going on?
For example: SPY -.09 and yet SSO (2x) is up 1.50%.
I have calculated that the top 70% or so of the SMH is down (with the major components of TXN and INTC down 1%) and yet SMH is up. And it holds very little AMD.
… something is definitely odd !
Previous Close is wrong … which of course screws up today’s Change numbers !
That’s at least what I’m seeing !
.
People panic out of bonds because they finally realized that CDS are worthless peices of garbage. No insurance on your bonds? Fuck that. So I suspect no one will buy bonds now and it will have the opposite effect. They didn’t save Greek bond holders, they saved those short CDS and fucked every euro and bond holder in the world royally, and they killed any future sales of bonds and CDS. Thus panic into stocks because fuck insurance on your bonds, stocks is the only insurance on bonds.
They (govt’s) will have to invent some new kind of insurance that holds in order to sell new bonds.
Sovereign debt now backed with AAPL shares.
Fly
No QE3 with oil at $94 IMO. Ben had room to pull this lever when oil was in the 70’s.
That option is gone for now.
Italian bond yields back up at 6%. Thats really BAD BAD BAD.
The bond vigilantes know that the EU cannot afford to bail them out.
There’s your next crisis.
Noone will read this as it is late to
follow on . Strogly suggest a weekend
rental on WLT .
Do the bloggers on this site get paid?>
IF EVERYONE IS BULLISH WHOS LEFT TO BUY?
Not sure what the technicians call it but silver has done a dipsy doodle.
From up 4.5% to down.
Maybe not.
It looks like the SLV etf was also mispriced this AM.
And then it was fixed?
.
“that’s what Capitalism is … taking advantage of the weak !”
~ Jon Najarian (CNBC “Fast Money”) ~
—
Brutally honest I guess !
.
DECK’s earnings blew the door off analyst’s estimates. I missed that one, I was waiting for a cheaper entry point. Stock is up over 9% today!
ZZZ ZZZ ZZZ !!!
Whoops … I must’ve dozed off there for a sec !
The silence in here is deafening !
.
Next week we get the FINAL PMI’s from around the world and Aussie lowering interest rates. No QE from the Clam after that ADVANCED GDP numbers. I see Shipping Rates drop off cliff followed by Spot Ore Prices and everyone is buying CLF…just one stupid QE hoping month. Hey, fwiw, I am going to be a Dead Cheerleader for Halloween this year..what are you dressing up as?
The only people over 9 years old that “dress up” for Halloween are retards. Congrats.
Did you TZA holders of ETF’s just get paid a divy perchance? Sometimes my bank takes into account a divy in today’s pricing. i.e. they subtract the amount paid out yesterday and consider that figure to have be the new zero for today’s open.
Hopefully you’re right Nymph.
Yep,CPI data out of Australia was the key for the rate drop.
Fly, When I tried to play with your new toy..the blogger network, I was directed to the Peanut Gallery were I posted my blog. Is that where it is showing up at..I don’t see it yet?
Hey Nymph,
I think the system recognized your account from your KoPG days. Once logged in (anywhere on the site), you can set up your own blog here:
http://ibankcoin.com/wp-signup.php
Let me know if this helps 🙂