I told you Portugal was a non-factor. Now how many suckers bought into the futures market, going short, thinking the US was about to nosedive? Whoever did, especially when the SPY futs were down 12, now find themselves floating around in outerspace, locked in a ‘fagbox‘.
I am 120% invested, long, without a care in the world. I told you yesterday, the market isn’t chasing higher, but simply resting or “taking it easy” ahead of the 4th of July festivities. Mark my words, we are setting up for another leg up.
The FRO is running again. There will be winners and losers in this Egyptian unrest situation. Just know, FRO doesn’t bother taking stupid crude from the middle east and delivering it to China or the US. PFFFFFF. There isn’t any money in that, believe it or not. They prefer to do business with the Africanus, a much more pleasurable route, albeit a money loser as well. So perhaps the specter of the Suez canal closing has people in the bit of a frenzy to own oil tanker stocks? Perhaps.
However, they’d be remiss to believe this run up is sustainable. I am a net seller of FRO into what I consider to be “another gift.” It’s not that I do not like FRO. It’s just that the time and the place for it to really go higher isn’t now.
In other news, AAPL looks encouraging and OCZ is always of interest to me. I’ve been thinking about buying into this stock for weeks now. With 40% of its cap in cash, no debt, and its peer, STEC, being bought out at a 100% premium, OCZ looks intriguing.
For now, top picks are IMMR, O and FWM.
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largest POMO of the month today 4.75-5.75 billions
Ben wants the USofA to party this July 4
if the market can’t go up with that firepower on a 1/2 day, watch out below
God bless him
in-deud
i say the mkt runs 2 n fro. im not short just vertically challenged, as i only have puts on my longs. lets see if the mkt PUTS on a show here
watch CAT and the shanghai index. china is very close to a major breakdown and CAT is a leading indicator of this, continued weakness everytime it has a chance to reverse
Bonds up and O down 1.7%. Fuckery at its finest. Nice chance to buy more here.
IYR is down
What is the average price you bought FRO?
Avg cost is around $2.15. I sold a lot when it was above 2.35.
Selling at a small loss isnt an issue for me.
you still holding as an investment – right??
The peoples of Europe have been in retirement mode after the last Napoleonic war. All they do is eat cheese and drink espresso in the south and drink beer and eat potatoes in the North. The middle East will eventually blow itself up. All this is already priced into the market. We are going higher. Happy 4th.
$OCZ – thing you gotta be careful on is that they have not filed with the SEC for almost a year and are still restating financials from the prior CEO who should be in jail. Best of breed products with a lot of growth ahead if they can overcome the current hurdles. Announced today/yesterday they should have filings cleared up by August. Given all that, things should be looking up for them as long as they can pull through.
That’s what holds me back
When are we getting the LED play
spooze were down 60bps this am, hardly panic and doubt there are “trapped shorts” from this a.m. but rather profit takers from the 4 previous gaps higher
Has The Devil already left for the Hamptons or is he/she above that crowd?
Fly no mention in a while of ENPH the solar energy storage play. Do you own it?
Raul does! Tune in anytime