Well this officially sucks. Apparently, the market wanted more than a stupid election win. The G20 idiots needed to come up with a plan. Instead of enjoying great success and a cocaine gorilla rally, we get classic sell the news, paired with black smoke, ash, and metal trading action.
Spanish and Italian yields are higher, as well as TLT. Commodities are lower, as well as the euro. And, Europe gave back a huge rally, with our futures fucking itself from +10 to -5.
Now it’s not the end of the world, mind you. We had a terrific run last week and the original buttfuckers are still in the euro; but if yields in Italy and Spain don’t drop soon, there’s not gonna be a fucking euro to stay in.
Yields above 7% are unsustainable, meaning: the ECB needs to start buying bonds right now else the worst case scenario will play out.
Once again, I am floored by European impotence.
Bottom line: today could get very ugly; but I am holding firm because nothing has changed. The policy makers will intervene at some point. It’s not a question of if, but when.
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no selling to protect gains?
not likely
Hey Fly, do you have to be long for some reason? No prob if you do or don’t, and good luck either way, but inquiring minds want to know.
Maybe if you were able to read, you could answer it for me.
Last I checked, my “reason” to be long just swung my -3% loss to a +13% win.
lol…yea, I read I get it I got it… just trying to create some context.
No you’re not. You’re trying to fucking gloat.
Don’t try that shit with me. I am not stupid.
Absolutely not. In the words of Layne Staley “as of now I bet you got me wrong.”
I’ve been doing this forever. I guarantee you that gloating is a sure-fire way to set yourself up for a fucking beating.
fair enough. I am always paranoid, since people are literally out to get me.
Paranoia will destroy ya!
Think Egypt
Think QE3
Anyone who expected any different from the egyptian nazis is an idiot
Prediction:
Civil war, or the non declared equivalent, in Egypt within 6 months. The Islamists believe they have a mandate from the people. The military does not, and will not relinquish control.
1+1=war
These “Europe is saved” bailouts seem to be having less and less of an effect as each one of them is rolled out.
The bond market is starting to call bullshit on the who Euro project.
I don’t see how the market turns bullish longer term as a result.
The central planners are losing control and Greece will almost assuredly leave the Euro no matter what fucking idiot is in power because there is no answer to fix things over there.
I’d take my 13% and run if I were you Fly but that’s just me. Happy trading.
Spain only needs a 150bill EU payday loan and the clam speak Thursday…..all will be saved…Praise be to the Clam!
maybe they could do a reverse morgage?
Sham wow to the rescue.
As surprised as I am that Greece means nothing – the bears will be just as surprised when our markets refuse to go down and they enter the meat grinder once again.
Well at least some money can be made in a Meat Grinder.
I’m a wus, not as brave as El Fly, selling off stuff to step back and clear my head for the next round.
Everyone long and covered for expected QE this week? Common knowledge Feddy floods the system no?
Greece is highly over-rated. It just goes to show.
WNR???
Girth
aapl??
Help is trying to get above water for me. C’mon little darlin’…
http://i48.tinypic.com/hug080.png
is greece pullin a fast one? yea will play we just need a few more bucks..3yrs n counting. secretly thinkin europe wont let them fail. we have the power , they dont want to let us go.. cause it will cause a collaspe, nero thinkin.
Let’s go gentlemen cough them up
well some of you seem to be cost avg.up….never a good thing to do in a down market ….
you are going to need another 30% decline just to cost avg.down..thats going to be painfull isnt it ?