I started a position in MRVL and added to my VHC position.
There is a great deal of money, under my direct supervision, invested into this market. As long as bonds sell off, I am content with being overweight. As a matter of fact, I am on the verge of making a rather large bet, one that will shape the direction of my year.
Into the bell, I am up a little bit more than 1%, eagerly awaiting the earnings of CPST (my micro-cap lotto play).
Top picks: VHC, MRVL, CTRP and TEA
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If nothing else, the one thing I have learned over the past 2 years here at iBC is to never bet against The Fly.
Bet against me, lose your house, kids and car.
Whoa there Fly, I never signed up for kidnapping children.
No kidnap. Your kids will hate you so much for betting against me, they will leave you.
God knows you’re letting them off easy!
..which is neither a promise nor a threat, if your Irish.
CPST
That junker brings back memories. I remember humping that stock back in ’05.
Best of luck to you, sir.
TLT bounced off the 100 day exponential moving average like clockwork today and closed near the highs. Really, I was very interested in buying but got sidetracked by a trip to Rockport with my daughter. In my mind, if I really wanted it, I would have set a limit order and gone about my merry way. As far as I’m concerned, today’s close on TLT was not good for the bulls.
There is a great diner in Rockport, MA called the Red Skiff, you should try it next time.
Hi Betty, I tried it July 4 weekend with my BFFL and it was fabulous. The homemade muffins were light and tasty, best we’ve ever had. Check it out with YOUR BFFL sometime, you’ll be glad you did>
So your large bet has not been made yet and you are 15% cash (prob less since MRVL and VHC adds)?
I’d think VHC is your large bet, no?
I sold JACK and CGA
I added 1/2 on NVDA before the close.
Probably one of my better trades of recent note.
Hookers are on me, boys.
CPST coughs up a hairball.
Damn it! I broke another rule, stocks are $1 for a reason.
Time to pick up a tube of hairball remedy. You can buy a good sized tube for the price of a few shares of $CPST. The malt flavour [sic] is pretty good.
You wouldn’t have Negative rates, if global outlooks were good. German/Swiss 2yr
Big money still looking for safety
FIO to the moon
OEW Daily Recap:
“The market opened about flat today, edged up above yesterday’s range, then went sideways for the rest of the day. The bullish uptrend count we have been tracking continues to look good while this market consolidates its recent gains. The recent 11 SPX point pullback fits within normal pullback parameters for this uptrend. And if it’s done, the market should make new highs shortly. The SOX index made a new high today, and 10YR yields rose to a new high for their uptrend as well. But keep in mind the OEW 1386, 1372, and 1363 pivot scenario noted yesterday.
Short term support remains at SPX 1402/03 and the 1386 pivot, with resistance at SPX 1413/15 and 1422. Short term momentum remains hovering around neutral. The short term OEW charts remain positive, with the swing point now around 1391.”
http://caldaro.wordpress.com/2012/08/09/thursday-update-343/
Thanks Tea!
TCAP my biggest up on the,otherwise BCE STX still doing yeomans work. TTC surprise down or consolidation
Fly,
I got into CHK at 17. I’m feeling greedy here and not selling at 20, even though that was my plan. What do you think?
S sprint will not be denied
“CNBC needs to decide whether to compete for the active trader and fear market, getting ever more negative and political, or to get back to their foundation of helping regular investors.
They are not helped by images of a car going off a cliff, or stories about Congress going on vacation. Their viewers need to know what segments of the market are cheap. How to succeed in the face of these threats. How to rebuild retirement.”
Jeff Miller “A Dash of Insight”
Miller’s got an interesting but misguided take on financial media. His example of Dwyer’s call for S&P at 1575 by year end, shows exactly what’s wrong with the current regime, never mind the incessant political screaming. The media should require that these forecasts come with a probability attached. Anything else is just a bunch of BS. If Dwyer said S&P 1575 by the end of December has a 6% probability, then people wouldn’t listen to such malarkey and would move on to more useful investing/trading pursuits.
BTW, I didn’t pull the 6% number out of my ass, it’s the probability of a December 2012 $SPY 157 option expiring in the money. If the financial press really did their job and moved into the 21 Century, maybe they would serve a useful purpose. Until that time, the current crop of hacks over at CNBC are on the endangered soon to be extinct species list.
Also the precursor to CNBC, FNN, and some of the early CNBC staff (Mark Haines, Ed Hart, etc.) had the chops to do real financial news. Unfortunately for the current viewers, their broadcasts are only available on the Celiestial Broadcasting Network, where options never expire worthless, and drawdowns are unknown.
Nefarious Rapscallion is now Nef Rap. I know you all don’t give a fuck and neither do I.
Here it is.. now.. kiss both sides of my ass. (no homo)
Make sure to let the hallowed halls know the instant you get get the braces off as well. Just kidding dude. Sometimes it is so easy one can not help it.
The action in YELP today was wild to say the least. Look for a further pullback.. and then nail the sucker. Go to the site and do DD. This mo fucker is going to be huge and world wide.
I got the Fontainebleau background!
Many childhood and adult memories for me from that place.
If you are talking the Fontainebleau in Miami Beach- I grew up in Miami.
I took the Florida Bar exam at the Miami Beach Convention Center in ’78 and I recall when Lincoln Road Mall was full of porno shops and dives (1970s). Spent a college summer working at Flagship Bank on Alton Rd.
Pumpernicks and Wolfies were decent delsi and I recall eating at an Italian place called Piccolos. I think it closed down when South beach went yuppy.
Where you been?
Out and about.
Tired of trading and went looking for employment but gave up- too much experience and too old (not necessarily in that order).
By the way, I got a Kamado grill/smoker a few months ago and used the recipe you sent for a pork dry rub.
It turned really well and the pulled pork was top notch.
TC! Great to hear from you. I’ve got the big green egg. The only real extravagance I have, actually…dont give a shit about big screen tv’s etc. But I do dig on smoking (no rasta) and grilling on the egg. Good pulled pork and beer-can chicken.
Waiting for FGS to opine tonight. The 0 is coming after evil oil speculators that is just so flaming amazing. Grab the fresh knee pads and go to work people. Gobble gobble.