Let’s just hope people weren’t paying attention to that bad, bad, bad Chinese data.
I have to be somewhere in about 1 hour, so this will be brief. Retail sensitive names, like JWN and BID, seem to be shrugging off the fucktarded Chinese data. However, the same cannot be said about the basic materials, who are getting smashed for a 3rd consecutive day. All in all, I am pleased with my new positions, sans RS and AKS. Nonetheless, it is our duty to have faith in THE BEARDED CLAM, with hopes of more printing press sensationalism.
In al seriousness, the most likely scenario to play out will be my original thesis of black smoke and depression strewn across the globe. I knew it the second I capitulated on VXX. But VXX is a magnanimously asinine product to begin with, so I feel no sense of remorse for parting with that shit. Commodities are lower, as well as commodity related stocks due to fears that everything isn’t paved with gold in the Orient. Now if you believe last night’s data was wrong, today is your dip. Or, if you feel the data is just a precursor to progressively worse data, today is the day you cut losses and head for the hills.
For now, I am holding firm.
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cracks up..refiners down…what gives??
So the major indices correct to the 50 day and bounce. Yawn. Buy it all blindly on bounce off 50 dma…
VXX is fucked up….the contango is a killer. It would take a massive unforeseen negative event to make it profitable given the current futures pricing.
Anyone know why $TIVX is down so much when $VXX is up today? Thanks in advance
2X Inverse Short
It isn’t really. Its due to contango and contract timing.
I was trying to joke because Huggie mentioned as to why in his post. I don’t want to mislead. Its an ETN also. Keep that in mind.
Uh Oh, better get MAKO
Now showing in a theatre near you…
Muppet babies… Goldman Sachs edition
Covered short here
The only thing I have found to somewhat work is to Short XIV when vol is low and Short VXX when vol is high.
I believe that last night’s data were wrong, but I’m not buying. I believe it is worse than reported, as it has been for some time. You know things are bad when made up numbers disappoint.
ouch fdx, should a sold this morning even. but i still has it.
Bot some LGF– sold some SBUX to get $
“VXX is a magnanimously asinine product to begin with”
VXX tits are stupendously glorious when bolted on at the right time. The right time is 2 to 3 weeks before a golden cross on $VIX. The wrong time to bolt on VXX tits is when “volatility just can’t get any lower”.
Genius. The right time to buy is before it goes up.
no wonder…I been doing this all wrong…
He’s pretty sharp, you idiots!
50 and 200 day golden cross?
yerp.
I found the source of bad Chinese data
http://yhoo.it/GMA7qu
more pics here
http://imgur.com/a/RjInD
I can’t stand watching this host of Fast Money Halftime Report anymore. S&P down 13 points this morning and has now bounced a whopping 4 points from the lows and all he can talk about is the V shaped intraday turnaround, and the “strength” in the market today. I feel sorry for these marionette hosts. Obviously they must fear for their jobs if they are anything other than super bullish all the time. He is so smug when he talks down to Steve Cortez… disgusting. Scott Wapner is a Dylan Ratigan wannabe and would be a good fit over there at PMSNBC. Any tabbed blogger on this site would be a fine replacement FM host. Except The Fly – he doesn’t do teevee.
Bring back Jeff Macke
LOL – I had thought about suggesting him as the replacement host. He is hilarious. I think CNBC has had enough of Jeff though.
“Dennis (Kneale)… – I am going to talk to you like a child… nod if you are with me” Jeff Macke meltdown.
http://www.youtube.com/watch?v=79HLnTPxMho
TVIX this crap should be illigal
Amazing thing is it’s technically trading perfectly. Like the robots are guiding it down.
I am no technician, but just eyeballing a trendline from it’s highs in October, I see it trading at about negative $65 by August.
TVIX earns the name of Velocity in “VelocityShares Daily 2x VIX short term ETN”
anyone buying the blood in TVIX?
Chinese data was blown out of proportion. VXX is garbage. TVIX is the antichrist.