Well, I caught a respite and sold into it, discarding of MCP like a deformed Spartan baby from mountain top in exchange for menial positions in EXK and ANR. Yes, both EXK and ANR are part of my new thesis, so you can shut the fuck up about it from now until infinity.
My TC ripped higher, making me feel somewhat good about myself. And DECK and FFIV bounced, like all dead cats should.
Semis charged higher, helping my IDTI position too. But this isn’t about me. The market, as a whole, needed today. We needed a big lift to soothe the spirits from the specter of damnation, going into Turkey Day.
Make no mistake (no Bush), I am still incredibly somber on the markets and fear being heavily exposed ahead of the elections. But there’s lots of money swashbuckling around and its always been my place to grab some, whenever the the opportunity arises.
The heart of this bull run is in housing, banks and basic materials. Tech has been fickle, subject to dramatically gay earnings pitfalls. I need to make back a quick 5% before I am able to take on risk again. Today’s 1.75% helped, but it’s merely a trifling compared to the elephantine, “colossus” losses incurred at The House of Fly these last treacherous weeks.
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Fly , you do realise ANR release earnings tomorrow right?
May the gods be with us.
EXK is reporting Nov.7. It should be good since they guided significantly higher the production of silver and gold
If Obama wins, do you expect ANR to still rise? I think coal stocks are still in oversold range regardless.
there is no if. Romney was declared the winner by Fly’s time machine, just as Obama was in 2008. Get up to speed.
On that same note, if Puff the Magic Dragon shows up at Wall St next Wednesday, is that bullish for HAL?
Unfortunately, Puff lived by the sea.
Seen any pics of walled street lately?
Speaking of housing, IMH was worth 150 bucks 7 years ago. Worth only 2 bucks 7 months ago. Now above 13 on egregious earnings. FWIW.
I have been shocked by the way Silver has continued to rally, despite a bit of a stall in Gold. It makes no sense especially as Silver is seen as more of an industrial use type commodity, while Gold is not. Any opinions on why?
OEW Daily Recap:
>> The market opened higher today, quickly breaking out of its recent SPX 1403-1421 trading range. Then it rallied slightly through the SPX 1422/27 resistance area, when hitting 1428. After that the rally stalled, but remained within a four point range for the rest of the day. Today’s 16 point rally is the best one we have seen since the B wave rally of this month long correction. Certainly looks like the path of least resistance is now up. However, to get all the indices aligned again we would like to see at least a retest of the lows in the next few days. If this does not occur, and the market continues to rally, we will have to assume the downtrend ended at SPX 1403. We can currently count three waves off that low: SPX 1419- 1406-1428.
Short term support is now at SPX 1422/27 and 1413/16, with resistance at the 1440 pivot and SPX 1463/64. Short term momentum was quite overbought today, and remained overbought at the close. The short term OEW charts turned positive today, for the first time since SPX 1450, with the swing level now at 1422. <<
The Weekend Update has a nice chart of the current Primary Wave III with expectations and markers to keep an eye on.
http://caldaro.wordpress.com/2012/10/27/weekend-update-368/
Thanks, Teahouse.
“Silver is seen as more of an industrial use type commodity”
That is just not true, during times of fiat printing, Silver acts more as an alternative currency similar to gold. As for the out performance, it is a much smaller market and their are a number of concentrated shorts that are being mismanaged. i.e. JPM, etc. so you will get periods of non correlation, but typically it stick with the larger trend of Gold.
A great place to store ibc coin and gold, and paper too: https://www.ibc.com/en-us/Pages/default.aspx
Why is the leftard media pumping bad polls? Can not quite figure this one out. Are they preparing for a “they stole the election!!” again? One can not put anything past those fucktards.
The shock and anger is getting set up. Why else would they not be scaring the poor to get off their fat ass and vote?
Which companies deal with crowd control and rioting could become a nice play nov 7th.
You should put your money where your mouth is (homo) and short the market in anticipation of a Romney win, no? Gutless?
Short a Romney win? Fuck that. Shorting the euphoria spike sounds better. All in due time.
The fear amongst the Republicans is high…
Do not see it. But home is Cali so what do i know. The bullshit polls are being pumped. Why? Trying to make coin off the election. MSA TASR should be good on chaos post a rombot landslide.
Hurricane Sandy is wind in the president’s sails
For all its destruction and displacement, “Hurricane Sandy has given Barack Obama a lift beneath his wings,” says Roger Simon at Politico. The public gives him high marks for his response to the disaster, and it has “provided him with one thing he has most needed since the first debate: The opportunity to look presidential.” I can even see Obama “getting a significant boost from a Republican Governor who also happens to be a chief Romney surrogate,” says Doug Mataconis at Outside the Beltway. Gov. Chris Christie’s post-Sandy love-in with Obama might not win the president many votes in Ohio or Virginia, but it could easily sideline his challenger “just enough to prevent Mitt Romney from crossing the finish line.”
LOL … Fatboy Christie screws (no homo) Mitt Muffin for a FEMA (Gov Safety Net) handout …. Oh the irony!
GOP Flipflop: Gov’t spending good (Bush) …. Gov’t spending bad (Obama) …. Gov’t spending good (GOP Pols looking to bail out own states from Sandy)!!!!
Big fucking if. The asshats of the destroyed areas are already 0 supporters. Obviously the storm is good for the prez. But will it be enough? Doubtful.
Read the returns and weep … LOL
the Party records:
Bush ….
Terrorism (Fail)
Economy (Fail)
Iraq (Fail)
Katrina (Fail)
Obama ….
Bin Laden (Dead!)
Economy (On the Mend)
Iraq (Over)
Sandy (Fast Fed’l Action)
The only failure to lead takes place in the Congress with the Cry Baby Bohner ….
Tell that socialist propaganda to the screwed in New Jersey. Wait for the post clean up reality of no money. The left east coast is gonna get a huge wake up call. Sorry all the money is spent on pensions and gubbermint. Cali is the same way.
It sounds insane but the Jersey Shore will not recover to what it was. Game changer.
You don’t know the difference between socialism and government …. Gov’t does the heavy lifting that the private sector cant. Ford didn’t build the highway system … Bristol Meyer can’t provide healthcare to all and no state or local community can provide for it’s citizens on it’s own after a natural disaster.
The strongest defense of a nation is from within and it’s economic strength resides in it’s infrastructure not the power of it’s military alone. It’s about priorities my friend … we can spend billions on converting the world to democracy and trillions on defense to make ourselves safe or we can make our own cities safe and well prepared for the future economic growth we need and will see regardless of whose president.
If the $ doesn’t come there will be one person to blame … Crybaby Bohner!
Where is Bohner? Has he been kidnapped by his own party or just hiding out hoping Mitt wins and the teaparty gets off his back?
+1
Fuck. Watched EXK for a couple of years. Decent quarter. Re-added to watch lists and then deleted again today. Now this. Fine. Will fucking track EXK. 8 – 10 – 8 – 10 – 8 – 10
http://www.marketwatch.com/story/9-scenarios-and-all-lead-to-stock-plunge-2012-10-30?link=MW_story_popular
Agree? Disagree? Or something in between?
HTG.L
That is all.