The ECB, with the help from Germany, will fund bankrupt countries, indefinitely. The EZ is in recession and cannot grow out of their debt burden. As a result, people clamour for stocks. They want them (stocks) all the time because, well, it’s a bull market.
If you think about it, literally, nothing can stop stocks from going higher. If growth slows, the central banks step in and print more money. If a country or two fails, someone else will step in and bail them out. The end result is the same: stocks trade higher, not because economies are robust, but because no one is permitted to fail. It simply isn’t an option.
Do you remember, back in 2011, when European indices were knifing lower by 5% per session and our basic material/financial stocks got cut in half? That was all fucking fear mongering horseshit. Like it or not, President Obama is getting reelected, via landslide, because he makes stocks go higher. Bush was a fucking gorilla who threw banana peels at the economy.
As an aside, I’ve booked a mini-vacation for next week, heading out to Florida. The kids want to visit Universal, maybe Disney, and I want to eat grotesquely large turkey legs. I was down 1.5% on 8% of my money today aka a big nothing burger. Despite all of the fun and excitement outside, Le Fly remains indoors, reading books, drinking tea, shutting the blinds to avoid seeing all of the depravity being committed by outright perverts.
http://www.youtube.com/watch?v=HSrVIX_jfdg&list=FLEIciWvVLqrS9jdkxpjKL9A&index=4&feature=plpp_video
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Hey whats his moving van doing outside my house?
At least you did not load up with shorts. Things can change very fast as you already know.
Cheap Euro vacations are on the horizon. If not this year, probably next.
Steve jobs will come back from the dead, and when the ECB runs out of money with all the capital flowing out of bond markets into cash, apple will be a 100 trillion dollar company and be able to bail out EUROPE. Their money will say “In Jobs we trust” and he will inflict pain upon anyone who doubts him. Apple will then bailout japan and the UK who will also fail to grow their way out of it, and everyone will be forced by the governers and elected dictators to send all their money to apple. The apple will get so big, it will fall on Newton’s head from which, Eve will pick it up and mess things up again for the paradise, as the Mayan Calander finally comes full circle in 2012 meaning we start all over as our “garden” variety life will come to an end and eventually we will get through the Genesis and prepare for the Exodus… or something.
okay so the national debt of the US in 1929 was 16 billion. It’s now closing in on 16 trillion. the stocks were above 300 then. So multiply that by a thousand to keep in line with the debt increase and you get the value of the Dow once money leaves all the debt markets around the world (not just the US) and goes to stock. Of course it won’t completely, but the nations will hyperinflate taking turns trying to save each other injecting money in the bond markets from which people will happily use as a selling opportunity and they will hide their money from the elected official “money managers” known as government and put their money in stocks!
DOW 300,000, here we come! All Aboard!
GOOD SHIT.
FLASH TO THE UPSIDE
Spring break is crazy busy around “the attractions,” so pack a good Pomerol and some demerol. I hear Harry Potterland is actually even kind of fun for adults.
I have express passes. I’ll be scowling at the fuckers sandwiched on lines.
“Daddy, why is the man in the top hat eating the turkey leg scowling at us? And what’s a ‘fuck-tard?'”
Enjoy the vacation and the Turkey legs sir.
What a difference a day makes.
Written amongst the stars, and the Talmud too, is an owner’s on vacation episode from Neighbor Steve. Sooner than soon. Disney/Universal are mere manifestation of street life post Obama reelection and the burning of America.
OEW Daily Recap:
“Today the SPX retested yesterday’s 1341 low and then rallied to a new uptrend high. While the short term wave count is getting a bit complicated we thought we’d review the entire uptrend to put it into perspective.”
“This uptrend started in late November, and has thus far rallied in five Minor waves. These waves, 1 – 4, are marked in dark blue on the chart below. Minor wave 5 is still underway. Within Minor 5 we have had five Minute waves, i -iv, labeled in dark green. Minute wave v is still underway. After the Minute wave iv low at SPX 1337 this market has bounced around a bit without making a whole lot of upside progress. Minute iii topped last thursday at SPX 1354, and a week later Minute wave v has only made it to 1359. We can now count the internal waves of Minute wave v as either an unfolding diagonal triangle, or Micro waves 1 and 2 complete with wave 3 underway now.”
“Either way we still expect the OEW 1363 pivot range to contain this uptrend. Short term support is at SPX 1337/41 and then the 1313, 1303 pivots. Overhead resistance is at the 1363, 1372 and 1386 pivots. Short term momentum is quite overbought.”
Chart: http://caldaro.files.wordpress.com/2012/02/spx60min.png
The range for a pivot is +/- 7 pts, therefore, if I understand Tony correctly, this uptrend will top out within the 1363 pivot range of 1356 to 1370.
Prechter and all the Ellioticians have trying to get these waves correct since 2009… but it never happens …
Every time there is a 5% selloff, they rejoice, Wave 1, of subwave II, of Grand Wave (3) has started … and then they all go silent, when the “Waves” never come … But they keep going back and making “adjustments” to their wave counts …
sad!
Lol at Martha
You should try reading someone that knows what they’re doing … Tony!
Thanks Tea!
How long is that fifth wave supposed to be?
it’s a minor 5th that could complete tomorrow or Monday between 1356 and 1370. Then a consolidation wave (A-B-C down) followed by the 3rd and usually most dynamic wave up.
Went to both before Christmas. Harry Potter over-rated. Mummy ride was boring. Must ride at Universal: The Simpsons. Terminator 3-D was cool too. Rip Ride Rockit roller coaster is a blast.
As a family we much preferred Disney.
And who the fuck asked you?
Succinct and effective.
Just fucking around off of the Harry Potter dis.
Rude and unworthy of this fine blog.
Kinda funny, though.
Harry Potter is the Spiderman ride. Same crap.
Fly waiting to pounce
http://tinyurl.com/83f935h
http://tinyurl.com/6scjtvv
High volume consolidation in RENN , on the cusp of breaking out of bullish cup and handle
Only thing in the whole market I can endorse long. China will NEVER let real facebook in their country . It triggers nothing but unrest. RENN is their next closest thing.
should move off Bidu’s earnings..RENN is up AH
This vacation should provide some excellent material for a ‘Fly Story’.
The public masses forming lines in the heat like cattle going to slaughter…
So true…LOL
Be sure to tell the mice and all their cronies we said, “Hi” and have a blast..
myspace layouts
well now shit!!
That was suppose to be a smiling Mickey..
Gotta love those turkey legs. That’s good that you have the express passes. You’re staying on property I hope? Even with express passes that Harry Potter takes a bit. That whole part of the park is packed. If you are on property get over there early before the general population rushes in. I’ve had the annual passes for Universal for the family for the past 8 months. We’ve gone up a few times now and I have to say I still like Disney better. Universal is more for the teenagers I know but there is just something about Disney.
Obamama say long time no sholt!
Bullish repression. Bearded clams panzers will smash thru any technical barriers. Time to stop fearing the upside.
I welcome the chance to have 0bama as my fearless leader. I can quit work, still get a paycheck and have full medical/dental coverage. Of course my children will go to college free, Harvard will do just fine. If I do re-enter the workforce I fully expect to have a four day work week, six weeks paid vacation and a pension waiting for me when I am fifty.
This is all very possible if you put in my tax plan: 110% tax on ALL income above $250K (from every source).
Firefighters already enjoy those benifits
fly what changed your mind from yesterday?
nothing
I would like to see a pic of Senor Tropicana in Mouse ears….in a Hawaiian shirt and cargo shorts, with a snarl…next to Goofy….yeah…tres kewl….
Fly – Still looking for a house in NJ? perfect crack-house on the market in Mendham – celebrity owner recently deceased
http://beta.local.yahoo.com/news-celebrity-real-estate-whitney-houstons-jersey-mansion-still-lingers-market
Jersey? isn’t that where that noisy bitch midget with the fat squished body and the big mouth lives? Smookey? Spookey?
all that Euro shit is so last year..it’s all about retail and coffee, and apple, honey.
melissa lee’s mouth is so disgusting…I betcha she masticates with it open so you can see all that chewed food hanging from her gummy little orifice. ..we would throw her under the table in the cafeteria if she tried to sit with us.
ugh. you are not funny. do your bitch on the rag routine a favor. think wit and sarcasm. then do it again.
“I was down 1.5% on 8% of my money today”
VXX will once again sow a trail of tears for your, sir. Luckily, it’s a small position so the tears shalll be from crocodiles.
With the $VIX on a death cross, VXX is dead money for a while.
In the big scheme of things, what do you really know?
Orlando? Home of white trash central? how awful! …where the non elite go to eat on their fat sweaty asses in poly shorts and leave wet sweaty shit on the seats of over-priced rides? ..I was never allowed in such places as a child! We went to places like Lake Chatauqua where we went to concerts and literary events and the ballet and had tea in the afternoon on the veranda. So much nicer with much better weather. Cheers!
Hey Fly. Is your neighbor Steve and family going with you or will he be watching your house for vandals?
as luck would have it I shorted the market into the end of the day…Love the capitulation..it is when big boys make cool money…
Senor Fly,
Do not forget, my dear friend, that it was thee who spoke of the disintegration of the smoke and mirror “eternal prop up mechanism” of world banks and governments who print money.
I didn’t say that I don’t agree with you, though!
A while back, I predicted 3 to 4 down days that would be bought, then a real down day, that wouldn’t be bought, and then the start of real down days to follow.
We shall see.
Disney is definitely in control of this market right now.
Ironic, I fly out to Disney tomorrow. See ya there with all the Chinese tourists 🙂
This sounds like a capitulation post, Le Fly.
The ECB can print all they want. There is nothing, NOTHING, they can do to forestall the depression that’s imminent in Europe. Tack on the social uprisings that undoubtedly will follow, and the ECB is rendered irrelevant. They came too late to the money printing party.
Obama will make it rain for 4 more years.
For the love of god.
Seriously.
This wonderful website, created and run by the free minds of creative and men of freewill, shall always be available, to those who care to read them.
Or shall they not?
We are losing the long game right now, my investor/trader/crazy baterd firnds and alumni.
Please just decide if you cherish this, or would rather have it taken away, with no say in the matter.
Even the Fly is not an illuminati yet!
These days, it REALLY matters. Are you in, or are you out?
Click it or lose it:
http://theintolerableacts.org/
Bull Market !
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