I am going to be a bit more methodical, as 2011 winds down. There is no fucking way I am going to cede these gains in the last three weeks of trade. Therefore, I am officially in sell mode, unwilling to play the euro-game.
I sold out of AG and a little AKS, upping my cash position to 20%. Earlier today, I doubled down in RBCN–reducing my cost basis to $10.5. Rarely do I double down in a dog. However, RBCN has all of the markers of a short squeeze waiting to happen and indeud it did.
So the dicksuckers at S&P are going to put Europe on credit watch negative. Well, color me surprised because last I checked the entirety of the EU was on the precipice of total and absolute collapse two weeks ago. In other words, welcome to two weeks ago, fuckfaces from S&P.
Bottom line: I am big into GSVC, LULU, RBCN, AKS and CVI. I intend to close out the year with gains ranging from 17-20%. Please do not misconstrue my TZA purchase as being bearish. It is nothing more than a small trade, in light of the S&P news. I will likely blow it out tomorrow, providing the downside horror show doesn’t materialize.
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indeud
Fly, maybe u be kind to explain how TVIX ended in the red while VIX by the CBOE is green?
VIX is not necessarily for short term volatility but for a 30 day period. TVIX is short term, but if you want to play longer term volatility like the VIX, try TVIZ
ok thanks but the volume there is low i wont be able to sale ahah but thanks for the answer
A lot of levered ETF’s are voodoo financial instruments that lose money over time.
examples – SDS, SRS, SKF, etc, etc..
They’re only for day trading ..
After reading that 20 page Hayman Capital Management letter inside the PPT blog, I am amazed that people want to buy anything.
Of course the ECB will print trillions of Euros when this is all said and done.
However, I could see Merkel pulling some crazy crap that shakes things up at some point between now and Friday.
Kyle Bass is badass.
Bass-ass? (sic)
You better not sell LULU or you will be spending an extended period of time in the downward dog position (longer than this morning).
You sir have balls of steel to play RBCN with such light volume.
Now that Cain has ceded his campaign he can go to Europe and get them up an running on the 9.9.9 plan…
Nein…Nein…Nein…you damn Euro swine!
Colonel, that’s a good idea. I just made a bundle off my book with all the publicity. I never expected to be taken seriously, but then again, the morons elected Barack. See ya later, suckers.
The “9-9-9” was an outburst of Cain’s stream of conscious; code numbers that meant # of women, # of days & a reference to measurement.
Still holding WNR from Thursday… not sure I want to play with that one for much longer. Crack spreads started to rip when the S&P downgrade rolled through, spiking the dollar and hitting oil, but damned if oil doesn’t have an endless bid underneath it.
It’s tempting and easy to just say that whatever European leaders are cooking up right now is bound to fail, like every other past attempt at ending the crisis.
But here’s a noteworthy market fact: Italian yields are collapsing today. Whereas a few days ago, the Italian 10-year bond was yielding 7.3%, today, that has fallen to less than 6%. And nobody is challenging it either… it’s been improving all day.
What’s going on? It’s not just that Italy announced austerity measures yesterday — since that’s really nothing new — it’s that the market anticipates that after a fiscal compact is reached, the ECB will step in and backstop the whole thing, and that’s a gamechanger.
Remember, even after the ballyhooed October 26 deal, Italian yields didn’t even end lower on the day, which was an immediate sign of how little confidence the market has in the agreement.
Business Insider
thats exactly what the market is betting: that the ECB will eventually step in and backstop the whole mess..
As fucked as things are over in EZ, I am sure this is all in the playbook.
The Bearded one wants to print but cant just yet. What better way than to get the US agenices on side to downgrade sovereigns and push the EZ and ECB into a corner. The corner being so tight that they will NEED Fed intervaention as well. No sense in letting a good crisis go to waste.
This will move risk assets higher throught 2012, likely after Jan., and help 0bama in the meantime, and get all those pesky indicators turning positive once again if only ofr a short time.
To think there is no solution is ludicrous, the question is at what point to the hit the presses? sub 1000 on SP? who the fuck knows besides the bearded one.
I’m thinking the S&P warning is simply a way to temper the inevitable. The hit to the market was minimal as it gave up 50 percent and reclaimed 25. Now, when the real downgrades come, and they will, it will be baked in limiting total damage to 50 to 200 points instead of a monster move down.
Go CRAMER!
Today’s Mad Money advice: Sell what you have, and DO NOT BUY until a real pullback.
Gotta love that CNBC.
Oh bullshit. Advice from their guest, Dan Dicker, was buy RIG as only company able to drill and recover at depths of 10,000. Check the facts man, I have a list in front of me now of 4 Seadrill rigs that are operating at 12,000 feet. I don’t mind bullshit opinions but, bullshit facts are unacceptable!
Ruggyup-
You obviously missed Mad Money today.
You might want to check out the first 5 minutes of today’s show, where Cramer said EXACTLY that.
Great. If Cramer said that, it’s time to get longer! Ugh.
Dan Dicker is a complete dumbass. He said the spring / summer 2010 market sell off was all due to Macondo. Hey bitch, that was when the Euro shit really got going hardcore.
Recovering oil in harsh environments is expensive and time consuming. Because they can only use floating rigs to explore and extract, weather becomes an issue as well. Once oil prices skyrocket when we attack iran, demand will plummet and demand for ultra deep oil will wane.
Those solar powered stealth bombers are da shit.
Well played, good sir.
it remains true that there is nothing presented thus far that will prevent a Euro meltdown. Even a fiscal union won’t. Forcing austerity on current account deficit nations is a disastrous idea that will bring about economic calamity with little realistic catalyst to end it, we could see a decade long recession EASILY as austerity causes economic output to drop causing deficits to never actually shrink…
To stop the problem and let the continent move on they need to change their monetary system. Breaking up into seperate countries that each issue their own currency, OR setting up a centralized means of dispersing new currency to allow net private sector savings (the way that US gov’t deficits allow net private sector savings here).
Only when some means of allowing currency creation is created will the crisis come to an actual “end”
Downside is limited imo. I hope everyone had a profitable year.
is that thesis based on technical or fundamental reasons?
I am out of my long trades and now looking at shorting.
On another note, get rid of your mercury-filled energy-saving bulbs and buy LEDs instead…
http://www.dealextreme.com/p/e27-ha003-4-2w-4000k-290-lumen-72-led-warm-white-light-bulb-110v-ac-36090
$11.20 each includes shipping
These last 100,000 hours, work in cold weather, and use a fraction of the power. You will never need to replace these, like you will the expensive mercury bulbs.
More light, for more a little cost, but only 6 watts… replaces a 60W bulb.
http://www.dealextreme.com/feedbacks/BrowseReviews.dx/sku.39034
ive been using led lights for over 3 yrs. they r efficient. they use 1/8 the power. they should last 20/28yrs with normal use. they have overcome many obstacles,