I don’t need this shit. Did you see how stupid the volatility was today? Wait until the deviants from Europe get together and poke fun at one another. The last thing I need is a heart attack for X-mas. “The Fly” intends to drink whiskey and splurge on holiday nonsense. I will eat rib roasts and consume large quantities of left bank Bordeaux.
I edged higher today by 0.45% and opted to sell a large position of mine, CVI, because crack spreads are nose diving again. My cash position stands at 37% and I have a lot of fire power to buy shit like GMXR. Call me Santa Fly.
In closing, fuck this end of the year homo shit. “The Fly” is much more interested in gaudy watches and unnecessary discretionary spending.
Top picks: RBCN, GSVC, LULU, GMXR and TZA
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“The last thing I need is a heart attack for X-mas. ”
best quote this week.
There are more underperforming fund managers , going into the end of this year, than in any year in recent history. About 75% are underperforming the SPY
I see that as bearish, because those desperate clowns will keep running in to chase news spikes, but then end up tripping over themselves. If you are desperate and under performing, it means you are nervous, and likely using tight stops. This is why every news driven spike has ended up falling at a near 90 degree angle, shortly after occurring. These guys are now scared money, and the whole market is being forced to echo their confusion.
VXX and TLT stayed green, and UUP barely dipped. Even at the very highs today. That was telling you this spike is BS .And If Nasdaq QQQ can’t break Monday’s highs by Friday, there’s a good chance this daily chart “bearish head and shoulders” will hold.
The bus is full of under performing fund managers, they pile into high risk junk in mass thinking as long as everyone does it they will be ok. Scott B pointed out Minsky last week, sure looks like the Ponzi level to me.
Why are you buying a greasy GMXR lottery ticket if you want to remain chill through Xmas?
Because it is small position and the sellers are pussies.
here’s some gaudy shit that tells you when the various markets are open:
http://www.timezone.com/library/news/200701248818
10 minutes before the close BAC and VXX were both up 2%. Some people out there are shaving with spinning helicopter blades. Agreed upon EU austerity without concurrent spending is a sell the headline news trade, however the prospects of a US recovery are cautiously optimistic.
Shaving with spinning helicopter blades… very nice
Wasn’t it so strange that the IMF rumor broke RIGHT during the bearish time of 3:30ish??? I wonder why it was planted and released right at that time of the day? IMHO, pros may have wanted to sell before the EU meeting but knew they would be watched like a hawk during that time period. The false rumor created a trigger for all the trend buyers and mo mo’s to lock in before the ECB, BoE etc a long position and let the real pros slip out quietly thru the back door. We will see, but that VXX pop sure looks interesting.
strange indeed,just as we were gonna close exactly close to the dax,as has been pretty much for some time now,as soon as it turned,it was easy to see sompin up.
That’s a very interesting concept!
I’ve always wondered about how companies and governments time their announcements. Like, “I’ve got an idea, let’s put out our next quarters shitty earnings PR release to our subsidiary office in Dhakaufuckingbangladesh where we employ two kids on our weaving looms – that way it’ll be a good four hours before it actually makes stateside wires and we’ll be long outta Dodge.”
Yes, I like your theory on today.
I wasn’t aware that bears own a particular time of day.
I bet if we backtest a strategy of selling every day at 330… well my BS meter is flashing bright red. You get the idea.
yea dude,when C was going from 40 to 5,the first 20 min of trading everyday was when those puts were flying, the rest of the day you were just floating and waiting……….god how i miss 08
tell em Ima need reservations for 20, I’ve never really been one for the preservation of money, nah; I’d much rather spend it all while I’m breathin that OVO and that XO is everythin you believe in, I know – Drake; Crew Love
Bullshit…we rip higher once weight of Europe is off our backs. Buy VIX 30 Sell VIX -20. V MA INTC are where its at.
And to think this could go on for years.
They are apparently recycling rumors now.
And for those who care here is a copy of the NY Times for Sunday 12/7/41 (before the attack).
http://www.freerepublic.com/focus/f-chat/2817099/posts
And Fly if it isn’t snowing try smoking the rib roast using hickory chips soaked in bourbon.
TC — a tip, when you get a “corked” bottle of wine use to soak your wood chips. I always hated pouring the stuff out, and it’s no good to drink but soaking chips in it works fine. And for prime rib = hickory & cherry 50/50.
Good tip.
I will give it a try soon as rib roasts should be going on sale soon.
Sometimes I use citrus or apple wood chunks for smoking, although I ran out of dead citrus tree branches a long time ago and I have to buy it.
We’ll be doing a nice big rib roast this Christmas dinner.(Turkey doesn’t cut it anymore).TC-How much/how long would you soak the chips in Bourbon for? And would you have to “flare-off” the alcohol prior to grilling
?
Are you a follower of Cdn junior O&G’s? Been looking at the Swan Hills plays and the Alberta Bakken.
Nope, burned too many times. I like Suncor and Husky.
Don’t worry about it, alcohol has a lower boiling pt than water, so it will all evaporate, especially with low an slow cooking times.
Correct.
Use about 2-2 and half cups of bourbon for every 4 pounds or so. Soak the chips in the bourbon for about 30-45 minutes before using.
Not sure if you are using a smoker (use a secondary pan of cold water)or a grill (use indirect method), or charcoal. It will take awhile so keep replenishing the chips (and charcoal) and use a thermometer.
I put a whole chicken on the grill for dinner tonight and used the “chicken on a can” method.
Most of the time I stand a can of beer up the ass of the chicken but tonight I used a can of mango nectar and smoked it with some fruit wood.
Highly recommend this.
yo baby,fuckin manja
Thanks for the info TC and Muktuk,I look forward to expanding my BBQ skillset.
Brilliant, thanks Muktuk, I’ve a bottle perfectly suited to this very task.
The king of Belgium needs to slow down on the wives.
Today’s Poll: Are you concerned you won’t be able to retire when you want to?
Gaudy. LOL
you know the last 20 minutes on the session was bull.so if the eurotards come up with anything it still dont mean shit. POOF: all shit solved. and every one is gainfully employed again,(sarc)
How funny is this?
http://www.dailymail.co.uk/news/article-2067456/Record-254m-powerball-winners-accused-collecting-fortune-mysterious-client.html
Not funny at all! If I were the one who originally held that ticket and lost it all, I would have to kill myself repeatedly!
How much hassle can it be to take a $245 Mil win? What is dude trying to hide? Escaped convict? What bills could be too much to pay off if it becomes public you won all that? Maybe Corzine just cannot catch a break.
Not sure if this is relevant as the rules likely apply to Powerball and Megamillions just the same but in the article, it states the rules that apply to Megamillions and does not mention Powerball. The winners hit the Powerball jackpot, not Mega.
fly
what do you make of the ppt score? we are closer to oversold than overbought despite being at 2 weeks highs?
That’s a great question for inside the PPT
indeed
the market is at 2 week highs
ppt can stay ob, as well as os. decide where you want to exit.
I somehow knew Fly was whiskey drinker, I’ve sworn off rum. The spice is an absolute killer.
Spiced Rum is merely a laxative.
Try some real rum: Zacapa 23 year old from Guatemala (no question if it’s legal that way ;), ONLY to be sipped on the ice; ice to be made only from spring water or filtered water, but never from the tap; sipping not to commence until ice has introduced itself properly to the rum.
You will never try any other.
Thanks GM! BTW: Absinthe was recently “legalized” in the US FYI (though, based on your kindly suggestion, probably unwarranted mention).
I fish in Costa Rica in the winter and love to experiment with the C.American rums. Found Zacapa a couple of years ago. If you can find it, Centenario 30yr old is worthy of attention.
Just chug a pint of Italian Swiss Colony muscatel. Quicker, easier, same result.
Hmmmm, I wonder if we just stay in this range until 12/23?
I love the owl! You could post a middle finger but if the Owl was the image used, I’d think it was the best post of the year.
Something hypnotic about it.
OK, I hate doing it since you hate advises.. this is not an investment or trading advise…
stop watching this crazy market.. go shopping for some watches or something.. it is very tense and almost ready to explode… I can feel it big time and annoyed from the chopfest.. but it is beyond our control… one thing i can say as true Mr. P would: if I sell out of my positions now.. where I would be than, after all it’s a bull market, you know 🙂
Not a bull market. Market turned bearish in Feb of 2011.
TN
I only argue my point of view for entertainment.
I couldn’t care less what other traders think…
I couldn’t care less what market does tomorrow or next week…
But I also never look at yearly charts.. just because…
I learned long ago – seeing something in front of my nose never explains the big picture and I am always need the big picture.
Mr.P
Mr. P, So what is the big picture? And why don’t you care..well you actually used a double negative, so maybe you do care, lol.
the big picture is – the world is not going to end next year lmao.. I love double negatives 🙂
Me too :-), the Double neg thing. For the world, maybe not, plus, knowing my luck I will have the perfect mix of shorts, and the world ends and I won’t be able to close positions for profits, lol.
hmmm….dont remember you having this philosphy before…interesting
Nirvana live sucks. Great band, shitty show.
(Maybe that’s true but keep quiet, better than Rap).
You’ve heard “Unplugged”, right? That most certainly doesn’t suck.
Gaudy and (Rive) gauche.
The Jamaican exchange down 96658 points today. Anyone see this or am I just getting a messed up print on Bloomberg >>> http://www.bloomberg.com/apps/quote?ticker=JMSMX:IND
Not sure what’s up with Bloomberg. Today was flat for the Jamaican exchange according to this:
http://www.jamstockex.com/controller.php?action=view_index_history&IndexCode=1
hahaha holy shit! what’s up with that? must be some kind of misprint.
Thoughts regarding Europe……..
Heaven is Where:
The Police are British,
The Chefs are Italian,
The Mechanics are German,
The Lovers are French and
It’s all organized by the Swiss.
Hell is Where:
The Police are German,
The Chefs are British,
The Mechanics are French,
The Lovers are Swiss and
It’s all organized by the Italians
Pretty accurate, no?
ROFL!
Very good.
santa, can we get the answers to the questions, please?
you shall all receive coal this year,none of you are worthy.loyd blankfein said this to be true,all traders are jitbags, to only have there funds taken from their purse because they are stupid plebs
I just watched Bernie Sanders on Current T.V.
This jackass thinks SS/Medicare/Medicaid can exist as is.
He also wants to break up big banks (which I agree should be done).
I may sound uncaring and harsh, but we can’t spend more on someone than they earned in their entire lives to keep them from dying for a few more years in their old age(thanks medical care inflation).
As the baby boomers near the end of their lives, there is no way we can afford all the hip replacements, heart surgeries, and cancer treatments.
He’d be better off not in public office
So you’re the one that watches that channel.
We need strong American banks. The people who run them are not all bad people.
sure we can. its the boomer plan. keep themselves alive at all costs. fuck the future since they will be dead anyway. finally getting some thought on the real problem. its all about age. not political party or anything other sideshow. old vs everyone else. something will give.
Can I confess that I have hope?
I even have hope for Europe!
At least while there are still guys like Nigel Farage fighting for democratic rights.
That guy is a pistol.
_____________
great post.
Agreud.
http://youtu.be/7movKfyTBII EUROPE..LOL
I know you guys are always making fun of Zero, but this is good. Obvious, but good.
http://www.zerohedge.com/news/time-will-not-be-different-interactive-chart-market-reactions-all-prior-2011-eurozone-summits-a
ecb cuts rates, 25bp.
Does anyone know of any reason why AXL is up 7% in premarket? I can’t seem to find any relevant news.
did u see it ah yesterday?
no I did not see it ah yesterday, what did I miss.
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