Let’s make it official: The PPT oversold signal won again. This is the last free oversold signal that will be donated to the reader class. It’s for members only.
The blow off top that I’ve been waiting for is in progress. Today’s melt up can only be described as euphoric. No one saw it coming and naysayers are still reeling for the force of the move. There wasn’t any let up and it was done on light volume, which offers a tiny bit of solace to the bears who like to fixate on things that mean nothing. With earnings in the rear view mirror and the technicals of the market on the side of upward momentum, I am expecting a short squeeze to occur from now until Labor Day. Expect your shares to rise to new heights. A common side effect will be a feeling of invisibility. You might look at yourselves in the mirror and say “that’s a man who knows what he’s doing.”
The wife, kids and mistresses will thank you for all of your ‘hard work’, when in reality you’re just going along for the ride (extra creep show).
It’s pride that will lead to your ultimate downfall, along with hubris, stupidity and other unsavory character traits.
The point I am trying to make is this:
The market did the same exact thing in 2000. Everyone got all comfy with stocks in August of 2000, as it reached new highs. People at my firm were pistol whipping their cold callers and smoking marijuana cigarettes outside of the building. As much as I would like this cocaine party to last, it won’t.
Brace yourselves for the rollercoaster of your lives and don’t forget to shut the lights off when your leave.
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You still like ZU? I may start a position soon.
Alright chief. So the market shits itself but my JCP Penney puts don’t pay?
They don’t make money. The days of double pleated stafford’s are over, pal.
Or shitty sweater staged family photos for that matter.
I think you always say this is the last free oversold signal for the reader class.
If anyone doubts the blow off top thesis of the Senor Fly. Take a look at GILD.
The overbought/oversold signals can easily be gotten from Nymo/Namo. I have traded them successfully for years.
“There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly build into human nature, that always gets in the way of human intelligence. Of this I am sure”. – JL
A little outside the Chinese burrito genre’ …. but what is the collective wisdom here on a value for THS?
The other name I’m looking at in the segment is WWAV.
I don’t foresee a 2000 style meltdown. The Naz went from 5048 to 1140ish. That’s a 77.4% bloodbath. I just don’t see it in the cards in the near future.
Not picking a fight with you Fly. Just agree to disagree like the Gentlemen we are.
JLG fka I Am Jesse Livermore
We will have a 300 point S and P correction after we reach 2062-2150 on The S and P.
I’ve been saying 2020 for the past year
ooh, xtra-kryptic
It’s too bad I missed this weekend’s portfolio judging post. Alas I was busy cavorting with and having ecstasy parties (cocaine is so 80’s) with some lovely high end escorts in Monte Carlo. Those Europeans really know how to do August right.
Be sure to post when we get that overbought signal.
I printed this glorious post and taped it to my screen. Long live Le Fly and IBC !!!
It is “invincibility” A game please
JAZZ overweight @ JPM with target of $190- FYI.
$X still werkin…
brilliant Sinatra cover, my brother did a couple of shows with him at Carnegie Hall …..
I’ve gone cash except for LULU calls but at lot of it is personal reasons and I’m sad to be missing out on this money!
Sold the LULU meh
You’re like a meme for behavioral biases. Not sure if it is intentional but it’s entertaining
reiterating my holdings from yesterday
1. GOGO 2. NAME 3. VRNS
(+9.99% today)
Look into GOGO and NAME if you don’t already know the stories there. Long term winners.
bought more NAME today on weakness and still accumulating
NAME opened +8% this morning as well – but on light volume. When it starts moving back up good luck accumulating…