I hate when the market gets fixated on one thing and pins its hopes to it. Remember when the market couldn’t go up without AAPL? Or how about the price of oil and copper? Whenever commodities went down, we died. Or how about the dollar and the euro?
Need I remind you about Italian/Spanish yields or Greek tragedies?
The panic button for the moment is the Japanese yen. We can’t do anything without first looking at the exchange rates of the yen. Try being a professional money manager, then telling your clients how stupid everyone else is for behaving in such a manner. After a while, it starts to sound like mental illness, psychotic behavior coming from an ego-maniac.
These days I just go along with the flow, acknowledging the ‘great risks’ to the system without even a hint of cynicism.
As it so happens, I am flat for the day, thanks to AMBA, YELP and FRO. I know IMMR is cheap, so I am not concerned about today’s decline. The world is ending, after all, what do you expect to happen to your stocks?
I suggest reading iBankCoin over the weekend. The Option Addict, Chess, Rc, Myself and others will have a lot of things to say about the current state of things. Naturally, everything hinges on the economic experiment being conducted in Tokyo.
Make sure to watch the teevee on sunday night and monitor asian trade. If Japan brushes it off and trades up, we are going to punch scrotums into the open of trade on monday.
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I had some notes for today’s trading…but my iguana ate them.
Funny!
A little dumb to think a 1-day rebound was bullish?
How many charts are at least a little broken.
And with a few currencies be a little cautious?
Did reverse but still SDS,QID,EPV
Lot of resistance now for bulls
XLF the tell for late reversal here
Fu*k everything. Longing OEX contracts like its my job.
Le Fly- I wish you were my fat toe so I could bang you on my coffee table everyday. That is all.
No Sgt Hulka
Le Fly- I wish you were my fat toe so I could bang you on my coffee table everyday. That is all.
that sounds kinda gay.
“Le Fly- I wish you were my fat toe so I could bang you on my coffee table everyday. That is all.”
—————————————
that sounds kinda gay.
testing 1,2,3,4,- – -html worky… no worky?
it worky.
yen/rates/eem – none of it matters. The experiment in assetpriced induced growth is not done until at least SPX – 2000. Why does noone listen to the fed – he says they will keep it floored until 6.5% unemployment – they know as well as anyone that that’s likely years off. Everything else is just noise.
I’m buying HYG,EEM, and IWM for the return of risk trade that should unfold in the next week or 2.
Fly – FRO and the rest of the vessel haulers are in a bind right now on day rates over various industry issues. Watch them after July 1 rate increases. If Asia/EU rates stick, they will rocket.
Detroit handing out black spots to all creditors
lol, i’ll gladly pay you tuesday, for a hamburger today…
wow coals.. just wow
WLT trading like boncroup company… this might be it
Tune in Tokyo Tune in Tokyo
Japan Rocks, hand Rolls!
Let’s not forget that issue of several nuclear reactors in full-meltdown, bleeding into the ocean.
This happened after the Japanese financial minister said: “they were going ahead with the Lexus of QE”, and the US said: “we will use our earthquake machine against you if you do!”:
https://www.youtube.com/watch?v=NqJRE5jK71I
Extrapolate that, into the 9.0 quake which followed, causing the biggest-ever, totally under-reported, nuclear clusterf-ck in our lifetimes.
Look. The USAF has HAARP. To create BOTH, severe weather, and deep u-low frequency earthquakes, amongst a bunch of other VERY bad things (like mass cetacean die-offs, zombie cities):
https://www.youtube.com/watch?v=hNahvVa_fSI
Japan still said “Hey, U aSs Aaa, F’ off!”. Crazy like a fox, indued.
Er, do we not share the oceans?
Just for fun….Fukushima fallout detected in Atlantic fishes:
http://enenews.com/study-fukushima-fallout-detected-in-fish-from-atlantic-ocean
One more order of glowing Toro sashimi, coming right up!
ARIGATO, Senor!
dude,quit scaring people, this will happen in the blink of an eye..
Why would the US want to prevent the Japanese from QE to infinity?
Stop and think rationally for a minute about who ultimately benefits from a flight out of the Yen and Japanese debt markets.
Just carrying forth the testimony from the Japanese Financial Minister, that the US threatened them with an earthquake machine.
The only thing we have that can trigger earthquakes, is HAARP, when they bounce billions of watts of microwave energy off the stratosphere, this creates scalar waves at ultra low frequencies which penetrates under the surface.
When used in the right strata, it can set off natural harmonics, multiples of amplitude higher than the original signals. This can trigger major earthquakes, especially along existing fault lines.
hum, economy at%? stocks rise @ ? gov prints money= stock prices rise? fed stops, stocks stop…get the picture? ponzi or am i just paranoid?
Everyone and their brother too, knows it’s the biggest ponzi scheme ever. Designed to make the markets go up and up and up until everyone thinks that equities are the ONLY safe haven and dives in.
When I hear the newspaper boy giving stock tips it’s time to get out………..someone famous once said.
I have not heard that yet but we get closer every day.
hey there is a book that tells of this. i read it daily. it is the way the truth and the light. but im no profit just a lamb, but i have the faith to keep me from harm. if you come to me i will tell you. but you make your own bed.
Shout out to CityMD (upper east side- 86th) for great service to my wife this past Sat. night.
While visiting our daughter my wife had chest pains and they took her right away. We did cancel the rest of our trip and left the next AM (6 AM- no.2 in TSA line and no bathroom lines).
Tokyo Rose say: “honorable Fly, how you want your tuna rolled?”
Never order “white tuna” for there isn’t such a fish. It’s fecal matter, banned in Japan.
The next direction for the market is down. They are going to taper in spite of a weak economic situation, because they are extremely worried about asset price distortions.
I don’t expect any meaningful downside for a couple of months however.
WRONG.
Ben doesn’t taper for anyone.
Have you taken a look at commodities lately?
MARKED DOWN.
Stocks go up.
My guess is they are worried about skyrocketing housing prices…after all, it was just a few years ago the world almost imploded due to credit driven, artificially inflated housing prices.
I was sitting here a few weeks ago asking myself how the could knowingly let housing appreciate at 10%+ per annum.
I think the taper is because of that.
Housing prices are hardly skyrocketing. New starts are still anemic, and many homeowner’s are still underwater on their current mortgages preventing them from moving up.
Low interest rates were not the only factor in the housing bubble.
Underwriting standards that required you only be able to fog a mirror played a major role in the massive expansion of MBS and housing prices last time around. Another set of housing regulations are due to hit the real estate market in January of 14.
Sequester, declining commodity prices, anemic housing market= don’t expect a taper anytime soon. They certainly want you to think that though, and that’s why Ben is a genius.
Good points Wilmer. Yes, i agree with you, they may just be wanting us to think that, with no intent of really doing it.
But i disagree with you on one point — housing prices are skyrocketing. Here in Denver it is literally a multiple bids for a given property on the first day its listed. Properties are selling above asking price and doing so within 24 hours. Nationally, prices are increasing pretty much everywhere and at a 10% annual rate.
I can tell you that properties are starting to be inappropriately priced, simple as that. I do agree that all the factors from the previous bubble are not present, but that doesn’t mean FREE FUCKING MONEY isn’t causing enough problems. I mean, they are giving money away.
I just borrowed 50k for a car at .5%. .5 Percent. I am closing on a refi next week for my house at 2.5% for 700k. Add in my tax writeoff and they are literally just giving me money to use for 30 years.
In the end, i think you might be correct. Make people fear the taper, cool things off a tiny bit, but keep it going because the economy is anemic.
Interesting times we live in…
lol, I remember each and every one of those worries/fears…………………
all’s I can say is the best looking chart on my screen is the dreaded VXX, omg, lol, 20 month lows
if market is rigged, biggest chunk of money is hitting market first week of july, the big question is:
a. sell off hard now, they buy em wholesale and u get summer loving
b. ramp from here they must pay retail, and u get a sizzling hot summer
earnings should be weak, I read about 50 earnings calls and they were all the same
1. our big project of cutting costs is wunderbar, we are cutting cutting cutting
2. our big customers are good, tad bit of growth
3. no other big prospects on horizon
ibm is classic, we miss and miss big because sales can’t close orders, lol………….how about the other side of the exchange, buyers ain’t buying because problems are not persistent, and u see no growth to get in front of, so status quo is fine
and imho, that’s the economy status quo, ie, maintenance
as peter lynch says
growth in credit
leads to growth in sales
leads to growth in earnings
we have unlimited growth in credit now being questioned
growth in sales, ehhhhhhhhhh
and the big e is now??????
two weeks ago ism told ya things are slowing
in kiss terms a two week sell off is better than a two week blow off
we shall see
http://www.newyorker.com/online/blogs/borowitzreport/2013/06/murdoch-divorce-stuns-satan.html
EFII > IMMR
http://www.marketwatch.com/story/doomsday-poll-87-risk-of-stock-crash-by-year-end-2013-06-05?pagenumber=2
Lock and load, pulling the trigger on ACAD and PAAS.
POMO is huge on Monday, So go ahead and run Bulls…stupid Clam.