But you will soon.
There is extreme complacency in this tape, the type of laziness that gets people dropped into hidden water wells or eaten alive by demented sharks, whilst sun bathing on a fucking raft. NFLX is trading north of $130 and the world is chockfull of cash, even though it is heavily burdened with debt.
We’ve become believers in the idea that Ben Bernanke controls the market with his beard. When he trims it, the Dow goes lower. When he lets it grow, the NASDAQ screams to the upside. So you know, that fucker is looking like Merlin right now.
The term “long in the tooth” comes to mind, while observing this tape. As such, I’ve taken profits on the entirety of my SODA position today, leaving me with just CPST. I will be holding through earnings, scheduled for 2/9.
Today’s tape is mixed; but I see more weakness than hardiness. As a matter of fact, if I was a betting man, I’d bet on a late day sell off, graping all of those who haphazardly tossed life savings into the market today.
I am about 95% cash, keen on acquiring the opportunity to buy your future margin liquidation, as bored as a vending machine inside of a blockbuster.
NOTE: We have more than 100 slots left in the March Madness contest, where I am gifting $1,000 to the winner. For some reason, members are being lazy and haven’t bombarded the comments section inside of The PPT. Contest submissions will most likely be closed by tonight.
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LOL love the blockbuster comment !!
your bored? go slap some homeless guy down some stairs to the subway,that ought to make you smile till close.
Already did that.
He fell down a sewer pipe. It was quite funny.
Egads sir, if I didn’t know better I’d think you nearly sound like one of those bears you regularly eviscerate. However I agree with you – even though bull/bear black/white is too simplistic, it is shocking how quickly mass psychology can swing from euphoria to terror. usually for all the wrong reasons too.
I’m waiting for a pullback before getting back into the market… 6+ months off have been long enough… But it’ll be hard to judge when the pull back has pulled back enough without the PPT to be the guide… Looks like I’m due for a membership renewal 🙂
LOL!
“When he trims it, the Dow goes lower. When he lets it grow, the NASDAQ screams to the upside.”
Trims it = raising rates
Lets it grow = ZIRP continues to 2014.
Hilarious post!
Hi Fly,
Are you still expecting a short lived 5% pullback or something more?
Thanks!
lol, I knew you playing that CPST for earnings yesterday. ANYWAY, while the US markets buy up AAPL and all the MoMo’s, China is Busy Cutting RRR, ROFL!!! NO!! (you guys are so lame if you believe that)…THEY are busy Increasing Gas Prices, its their way to slow things down without raising rates, plus they are telling Govt Car Owners to drive their cars one less day each week.. http://www.shanghaidaily.com/article/?id=493886&type=Business
Weird! My quote system says AAPL is at an all time high of $470?!
There must be an error. That FIBO thingy was supposed to send it lower $65 points ago.
It is very uninteresting reading anything said by Perma bears (look above) or Perma bulls (look below). I am pretty sure I am clear on your investing ideas.
I have nothing of importance to say, except I was pointing to the left field fence as I entered my March Madness pick this morning.
“So you know, that fucker is looking like Merlin right now.”
^LOL
But… that fucker IS merlin!
A great trading market. Be nimble be quick and trade trade trade. gotta be in it to win it….cheers!
You know it’s a Bull Market when a Chinese Buritto like SOL is up over 9% today!
Dylan Ratigan must be the real deal:
http://www.youtube.com/watch?v=_HmBJDB0DdA&feature=uploademail
Merlin! love it. Ye gods! This is a dull tape.
I miss Ratigan’s coked up rants on the trading floor during “The Closing Bell” in late 2008. He was fun to watch and a straight shooter.
Fly, you may now resume your coffee consumption and dispense with that tea nonsense: http://www.theatlantic.com/health/archive/2012/02/coffees-effect-on-the-heart-is-so-small-you-should-stop-worrying/251539/
Dylan is the man.
I remember the dark days of the fall of 08.
And thee days that Congress was voting on the bailouts.
On Fast Money he was consistently telling it like it is.
He got yanked because he was speaking “too much truth”.
The whole “scare the markets thing” and GE being the parent company of CNBC and all.
Dylan is a straight shooter IMHO.
I am going to use 100K from my trading account and go short TVIX, EDZ, FAZ right now. I am willing to loose it all. But basically my bet is that at the most the market goes to 13200 for the year. So upside is about 2%-3% Vs my gut tells me we will go to 12400’s or 12000’s by October 2012. So I am willing to loose this money and sit on this indexes or double it….
Jnrod…I know this will scare the shit out of you, but, I love your plan. I just could not stand to loose $100k.
Just bought a shit ton of TZA today at 18.50. I just can’t see us going up forever.
I’d but puts on TNA. Fuck TZA