Sterne Agee has some great research out on retail today and how equity price correlate with sales. Out of all the names in their universe, TIF has the highest correlation to stocks at 0.92. Considering stocks have been on a fucking tear over the past three months, logic dictates TIF will blow the barnyard doors off earnings this quarter.
I’m looking for high quality stocks that are selling off, with the hopes of catching the next inflection point higher. I’m not suggesting today is the day to buy. However, I am telling you the whole purpose of having my bountiful cash position is to eventually purchase the liquidation, buy the fear, and put money to work.
Thus far, this is my list (subject to change, posted in The PPT for constant perusal)
TIF
BID
EXK
AG
LEDS
CREE
SONC
WNR
TRIP
YELP
MTW
FWLT
CX
HFC
ALJ
CATM
TDC
IPGP
RAX
BWA
FLS
ONNN
FXY
Granted, my opinion can change, rather dramatically, should the wheels in China fall off. The essence of this sell off is China related, not so much Europe. Make no mistake about it: this market isn’t pricing in troubles in Europe whatsoever. Should we begin to worry about Europe again, banks and brokerages are heading much lower. This sell off is more related to basic materials and industrials, due to China.
Friday’s job number can turn this market on a dime, higher. Or, we can just brush it off and continue to worry about shit we have no control over. It’s very tempting to step in here, with hopes and dreams that everything will be okay. But hope doesn’t pay the bills. Before getting back in, I am looking for a fucking flush out.
In The PPT, we haven’t been this overbought, for such a long period of time, since QE2. This LTRO shit threw the algorithms through a meat grinder and pushed prices higher, no matter what. If we are going to unwind some of that move, it will take a lot more than a mere 140 points to satisfy the wolves who are savaging stocks today.
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#1 CPST
Worst investment i’ve made yet. I do see potential but will need to wait awhile.
looks like shit. I don’t buy when they tank.
right but OFF THE LOWS for now
Yeah but what about Birinyi?
Hi Fly
I don’t quite understand the concern with China people have.
The US export little to China.. while it imports a large amount from them.
If China slows how would it greatly imapct on the US as I don;t quite see it.
Sure stocks could fall, but they would come back as people see the impact is far less muted than the potential damage Europe could cause.
I understand the chain with europe and China.. germany for instance sells a large number of cars there..
However the US internal market wouldn’t be impacted so much and there’s also the fact that gas prices would take a hit.
J, I am not the Fly, but IMHO nothing happens in a vacumn, China can shake Japan, EU, S America..in turn they can shake us. Also, China is a BIG buyer of US Debt, if they need to raise cash badly due to bad loans they could go in and sell that debt or at least not be buyers. And most important, China is in the top five of our importing countries to them..so they do buy a bunch of our stuff.
CATM is absolutely breathtaking. A stock that requires space alien magician credentials before placing a bid. WTF?
THREW the algorithms…
liar. i wrote that
you still have it wrong…you THROW something THROUGH a meat grinder.
you are making shit up now
Centuries ago people were executed for far less offenses than shoddy, careless grammar. Take more care in your work next time, you deviant.
once you throw it through, someone says he/she/they threw it through.
man,why dees sluts always tryin to frush me out.
What is wrong with the IBC Newsbot 3000 link?Has not worked for a couple of days.
Dozer upset over CPST…Dozer no like lose money
OFF THE LOWS
ONTY??? Margin call
All Greek banks seen taking part in bond deal according to unnamed sources
That is about 20% of the 75% they need. IMHO its how much of the paper that is held by Vulture Hedge Funds is the question.
BORN earnings tomorrow I AM LONG
so much for my bac calls…doh!
1.03 BID
Adding to my DSCO position
not dsco….CPST my friend
keep on rockin DSCO
Wow! On a day like today SOL is up 3.69% on no news!
Shitigroup close under 31.90, short with a tight stop. Looks like it will bounce though…
I put some of my Income Acct cash to work (prematurely?) here … UAN & PVR
Great dividends!
Thnx … I’m somewhat concerned about coal with PVR though their natty pricing is improving and it is a LT buy so we shall see.
Losing my ass on SKUL today. Their dipshit CFO decided to quit.
Bovespa getting wacked and I’m buying
EWZ as Brazil will cut overnight .
Fly,
Thoughts on your VXX exit ?
Vxx is not done going higher.
28
Is that NJ in the front page pic?
Bought CPST.
I bot AAPL. What the hell, new iPad tomorrow. Sellers are selling.
DSCO halted
looks like someone at 1pm knew something
sold vxx.