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18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
15,420 Blog Posts

Celebrate the Dow 13,000

Things I don’t like:

Refiners are trading like shit again and oil is getting smashed over the past two days. However, the market has been going up on oil weakness, which is nonsensical. Basically, the indices go higher no matter what. Generally, stocks look tired. Solar stocks broke out today because of the China subsidy news. But if you were long solar over the past month, you got your fucking brains kicked in.

Auto stocks and banks are looking good, as well as retailers. But volatility is basing out, fuckface. It’s done going lower and a storm is brewing.

LTRO is the stupidest shit in modern finance. It is barbaric and it will end in absolute failure. You can bank on that.

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58 comments

  1. Dan R

    Can I retire now since the Dow closed above 13,000?

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  2. surplusdroids

    LTRO is fucking dumb.

    And as capital flows along a path of least resistance, Spanish and Italian governments and banks keep piling on the debt.

    Governments issue debt.
    The banks buy their own governments bonds. And then use them as collateral at the ECB.

    Shit. The whole thing will end in war. IMHO.
    Or we just keep tacking on zero’s to the end of balance sheets. (Just promises to pay. LOL.)

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  3. Say it aunt Su

    Evening entertainment.
    Pal vs Mother
    Husband: What’s for dinner Mother? (Wife: Mother of your children)
    Wife: What did you say?
    H: What’s for dinner Mother?
    W: Did you just call me Mother?
    H: silence
    W: First of all I’m not your Mother!! Secondly, get your own fucking dinner!! Who the Hell do you think you are calling me Mother?! (door slam)

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  4. Bullish

    Looks like Marc David is going for the kill!

    and it’s only Tuesday.

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  5. MetalLeg

    The US is turning the dollar into the peso

    http://www.vevo.com/watch/artist/asap-rocky#0

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    • Blind Read Ant

      Can always disavow current currency, and repeg. Not unlike peso.

      Wait. That’s the goal!

      SDR’s here we go. You’ll have to find the letters USD somewhere on the note.

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    • fxtradex6

      People have been saying this since i was born.

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  6. riggedgame

    Larry Silverstein is trying to make ANOTHER big profit off 911. I wonder if the Bushes and Cheney are still his partners.

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  7. LVS666

    This is going to end in tears

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  8. riggedgame

    Guy Adami. What a piece of shit. Bearshitting all over the place YESTERDAY – and today he is bullish. Are these CNBC clowns for REAL?

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  9. pjdempsey

    Spoiler alert: the old dude’s lasso goes limp and the cheerleader chick ends up pregnant.

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  10. Eric

    Sensing your upset because unobankcoin at the moment.

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  11. TeahouseOnTheTracks

    China isn’t gonna support non-Chinese auto makers even if they mfg in China … Protectionism works for socialized-capitalism.

    http://www.autoblog.com/2012/02/28/china-issues-list-of-approved-vehicles-for-government-purchase/

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  12. JakeGint

    Meanwhile, in a triumph of legislative will, the Mustached Tax Deduction Bill is referred to the Ways & Means Committee

    __________

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  13. Rick

    The trend is your friend … getting a bit too difficult for most to stick with it IMO, and most retail investors just don’t have the balls. The IIs are still buying the minor dips. This will continue until it doesn’t.

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  14. older than dirt

    Since insensitivity is almost unknown on this blog, lemme axe youse’all:
    How many NASCAR drivers does it take to start a fire?
    Just Juan…. Pablo Montoya!!!

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  15. Funny because it is ridiculous
    Funny because it is ridiculous

    If it trades up tomorrow…
    APPLE IS A FUCKING HALF A TRILLION DOLLAR COMPANY…

    Although when I look at the national debt, the unfunded liabilities size, the derivatives market, etc I feel like it still has more of the world to take over.

    Next step, 1 trillion… LOL!

    ALL ABOARD

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  16. JTU

    Based on the mathematics of Le Fly I went to over 60 % cash today.
    Almost every financial advisor parading in front of the TV screen today is Bullishly Long!

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  17. Cindy Bindy

    and so how do you feel sir fly.. knowing that 99% of all jackwagon dickwadds bullshit fuckhead pundits are saying the same thing as you are? TSK TSK you disappoint yet again.

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  18. Cindy Bindy

    Long some penny stock…Indeud!

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  19. Cindy Bindy

    FID (fly is dead)

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  20. Yogi & Boo Boo

    I think I’ve finally had enough politics for the year. While watching Calista and Newt on TeeVee, Newt called himself “the Professer” [sic]. Oh so now we have Newt as “the Professer” [sic], Calista as Ginger, Ric [sic] Santorum as Gilligan, Ron Paul as “the Skipper”, and of course Mitt Romney as Thurston Howell III.

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  21. Negative Real Yield
    Negative Real Yield

    Negative real yield…
    http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=realyield

    Stocks are going up because gold is at all time highs and real yield is negative, so there is no other option.

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  22. xxxHuggieBearxxx

    They are literally creating/forcing a valuation bubble. It will not end well.

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  23. Hack

    The world will end tomorrow. (Sooner or later I will be right).

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  24. alf44

    ROMNEY WINS ARIZONA & MICHIGAN PRIMARY !!!

    Yawn !!!

    .

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  25. cdude

    What’s the point of any news at this point? Mkt rallying on consumer confidence is the biggest fucking joke of all…wasn’t it consumer (over)confidence that got us into the 2008 mess in the first place? ANY news now and mkt screams..
    CNBC: “Neighbors dog seen licking balls”…. mkt rips up 275 points. “I new he could do it”, says Buffett.

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  26. JakeGint

    Celebrate Romney’s win over the pinch-faced Santorum with your finest local boxed wine.

    Especially if that shit was up 15% today!

    ______________

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  27. Karmabroker

    Does anyone else have a problem with the new CNBC location or am I still in bizarro world?

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  28. Karmabroker

    “exclusive media provider”

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  29. Trading_Nymph

    You know EVERYONE is calling for a rally on the euro on any amount of LTRO, if they take a small amount then Banks better, if they take a lot then more global liquidity. FWIW, when everyone is in a Win/Win can’t loose position..it doesn’t come out well. I so hate this…and the Clam on the Hill too.

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  30. JTU

    U.S. dollat eating goat’s balls this morning!

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  31. JTU

    t=”r” A fucking game!

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  32. JTU

    GDP above expectations!
    We rally higher!

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    • JakeGint

      I think you may have stumbled upon something…

      When they devalue the crap out of the dollar, they’ll issue a new currency, “the Dollat.”

      It’ll be all the rage, to hollah for yo dollah-T!

      ____

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