I don’t give a shit about Italy, France, Germany and especially not Greece. All I know is stocks want higher. Are you so dense to see what is in front of your face? The market is begging for you to get long, yet there you are studying CDS spreads.
I am going to make this very simple for you. The Turkey Gods never lose. Getting long ahead of Thanksgiving, following an up October, is a high probability trade. Forget about the news and scary shit that is promoted by your favorite news anchor. I want you to understand that after everything is tossed into a frying pan and reduced, all that is left is a big ol’ turkey leg, nothing more or less.
Into said Turkey Rally, I like DK, WNR, EXK and AG. Oh, and GSVC bottomed today.
Check out Hugh Hendry singing this song.
http://www.youtube.com/watch?v=-io-kZKl_BI&feature=related
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Green Bean K-Cup machine!
I thought I’d wait until Isfahan was a glowing molten puddle of glass, but I guess I’d better reconsider. No need to get the Turkey gods pissed off.
The CDS market will collapse and result in bond yields sky rocketing around the world. Afterall, the corrupt banks that found a way to avoid paying the “default” after a 50% haircut basically just told the entire 700 BILLION dollar market that your CDS’s are worthless. So who wants to own CDS, and those that are holding CDS for insurance, why do they want to own bonds without a much fatter premium on their yield. Of course that will result in unrelenting destruction of capital. Then again, there could just be another 700 billion dollar bailout and have a nice day, who knows.
Of course, the real question is “when” And The Turkey’s will vigourously defend their rally, and when the bears are down they will point a shotgun at the bears as if they are terminators as they say “Gobble Gobble MF Global” (TV edit version)
It was quicker to write: “I thought I’d wait until Isfahan was a glowing molten puddle of glass” than it was all of that CDS stuff.
I just saw Die Hard’s TV edit. They have changed “Yippie Kai Yai Yay, Mr. Falcon” to “Yippie Kai Yai Yay, MF Global” Also, the TV edit on Snakes on a plane has sswitched from “who put these monkey fighting snakes on this Monday to Friday plane” To “Who Put this ‘MF ponzi scheme’ snakes on this ‘MF Global Plane’.”
LOL.
You do realize you’re talking about something that institutions have been considering for at least the last 4 months. Do you think no one has taken the conservative approach and started dumping exposure to get ahead of the curve?
What if yields are so high because the above scenario has already largely played out?
The CDS market may end up in a long convoluted legal battle between multiple individual parties and thus lose a lot of it’s usefulness, but to say it WILL collapse as though it’s certain is ridiculous.
There are buyers in today’s market because everywhere else to put your money is even shittier.
The financial world is drifting aimlessly without direction or leadership.
I am sitting on the sidelines and letting the gamblers have their fun.
what exactly is “the sidelines”? Bonds? Cash? Money is not a store of value, gold is not a store of value, stocks isn’t either. There only exists medium of exchanges, and you have to pick one or multiple, one way or another, or else load up on things you plan to consume in the future now instead of later.
taxi medallions
I ask myself those questions and more all the time. Same s it ever was.
Fly is right, the market is going higher. The strength in the face of the italian yields tells you everything you need to know.
But, i bet we don’t go MUCH higher…prob 3% – 5%.
Cramer turning bullish on housing tonight.
After XHB housing etf went up almost 30% in a straight line, in a single month
http://www.youtube.com/watch?v=9rmUZQrvF5o
lol
My time has come, once again. Greece will burn, and so too will Italy. In the distance I see smoke rising from the streets of Paris. Wait and see.
Bialek: He stuck his hand under my dress and reached for my genitals and grabbed me by the neck and pushed my head into his lap … “I said, what are you doing?”
GOP Candidate: You want a job, right, Bitch?
Down goes Frazier!!!
Gloria Alred should be a signal to even the dumber Dems among us. Maybe you should switch to yte Michael Jackson story while there’s still time?
___
Hahaha … right Jake. Your fav GOP guy just got a face attached to his cookie jar … He’s toast … Hello Mitten!
Zero must be sweating in his jock if he felt he needed to pull Allred out of his magic box already, just to de-rail the Herminator. How low will you Dims stoop?
Oh, and class move using the Frazier epigraph — never mind the implicit racism — the poor guy died today!
Duh!
__________
No surprises re Cain.
His funny and clever guy act puts off people who “believe” in America.
In a world of fellow cynics, this is a laughable.
For the left, this is opportunity.
Mean while, traditional America refrains from rubbing their eyes, reach for handkerchief and eye drops. Would make a judge snore in sober incredulity.
Yeah cause that whole story makes a lotta sense. Is “pushing a head into a lap” considered a suave move now?
A test of the April highs certainly seems to be where the market wants to go. And it seems to want to get there by Christmas.
While the April high in the $RUT is 16% from here, all I want from the Turkey Gods is another 7% on the $RUT. That should get me to b/e on my URTY position. Then I can get out and start looking at the market from a more purely analytical position.
That’s an interesting candle printed by TLT today, and it looks like it wants to take a stab at breaking out very soon. If all you had were precious metals and bond ETFs you’d be doing pretty darn good.
I rolled the dice on the lows of day and got max boogie long. I missed the Oct rally, have been on sidelines for a while but it does feel this mkt wants to go higher.
Stocks wanna go sideways.
Gold and Silver is where its at when the printfest begins in Europe. Miners also look good. Been in GDX calls for awhile now.
Any large move is to the downside. Italian yields soared again today. Bond vigilantes are going for the kill in Italy.
Too much risk for me. I’ll take the other side of the trade FLy. We’re headed lower.
This is why I follow your website Fly.
If the bears are going long, then it is a pretty good damn bet I should be going long too.
Just like if the bulls are going short… well, you get the point.
How can one find out if there are warrants trading for a certain stock? The warrant market is always shadey, and the symbols are hard to look up – I find at least. SO anyone know a good site that lists warrants???
I want to be clear I’m not max long for the long haul. I put this very risky bet on at lows of day with intention of closing position by day’s end. Greed got best of me and I decided to leave it on overnight . However, I will not let the mkt shake me out without profit on this .haha
why are warrant prices so hard to find or even if a company has warrants or not? ERggHH!H
Great title Fly.
I hope things work out.
I really do.
I’m sitting cash and moving into real estate.
Still some Fx, I especially think it’s safe to expect a continued increase in USD/JPY now that JPY’s intervened.
http://www.dailymotion.com/video/x9776j_jim-rogers-was-right_news#rel-page-7
This market is confounding. My only guess is that there are people in the know buying each and every dip. Perhaps they know that QE3 is on the horizon here in America, and similar actions are on the horizon by the ECB.
Yep.
I hear that from all the Clintonites, no joke.