The celebratory hang over of another all time high is in full effect this morning. After all, the stock market has never been better. All of the bad news is good and the good news is great. There isn’t any great news–but that’s okay. The Federal Reserve, and more importantly, the savage swine out of the ECB, have been busy making sure social disorder doesn’t become a reality. All of you beer swillers and sockdolagers of this era of unprecedented decadence have left the upper middle class in a state of permanent bohemia, hipsters with an indelible appetite for perversion.
All the while, the internals of the market speak to another truth.
Over the past quarter, 131 stocks were up 30% or more, while 172 were down more than 30%. When you lower the threshold, the results are even more damning. Two hundred and fifty eight stocks, god damn it, were up more than 20% over the past quarter, while a mind numbing 433 were down 20% or more.
For the average Joe, the guy eating donuts out of a greasy paper bag, this is detrimental–yet harmonious to the algorithmic based demons who man the trading turrets at Goldman Sachs.
Ove the past six months, The PPT oversold signal has proven to be right 6 out of 7 times for an average return of 1.35%. The overbought signal has been even more impressive, with the market going down 5 out of 5 occurrences for an average market loss of 0.86%.
Without question, we are in a period of hidden volatility, all the while that stupid garish VXX instrument, which was created inside of Darwin’s seventh level of hell, is at new lows. It’s a stock pickers market and I intend to take an ax to the faces of anyone who gets in my way.
The drifters and the wastrels have been dispatched over the past 3 months and come here to my blog to vent frustration. Back in April, when I displayed a certain air of mortality, these parasitic roads slobs left countless messages, which spelled out foreboding doom and an ending to the era known as Fly. You sold my bottom and now I am dancing atop your skinless skulls.
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As an average Joe who likes chocolate cake donuts, I’d like to thank you for your cogent market analysis.
You can thank me by attacking the trolls when they appear. I want you to man the Tower and shoot anything that moves.
I was actually eating a donut as I read this.
Also, drinking a beer. But it’s a fancy, handcrafted beer in a glass bottle. None of that canned swill.
Tower
You were supposed to shoot this guy.
You’re fired.
Sorry I was watching Beau Geste for inspiration when I dozed off.
Check, boss.
Nice post as always. Conference looks super exciting.. wish I could make it.
You should all feel ashamed at yourselves for not coming. If the conference is a flop, I will never forgive any of you, for as long as I live.
Still love ya. I don’t trade much anymore and just started a new gig so doesn’t make sense for me, sadly
Nobody is going because it is so expensive. Fly, perhaps you’ve forgotten where you came from in life, but it is where almost 75% of people also came from: no money. There are three kinds of people who visit this site: People who already know markets, people who don’t, and trolls. Trolls don’t want to go to the conference. People who have been around and know the stock markets only wish to come if they have a lot of free time to do that short of thing. People who are learning don’t have the means to go. Most of the people here are on 4-5 figure personal accounts and can gain a lot more from AHWOA than a one day seminar. Some people, like me, have a large short position in credit card debt, so to speak, and cannot put together enough money to go to Vegas much less the conference. You have no idea how bad it is (extra Cramer) and the fact that you think the conference is a flop shows that you are more in touch with the moves of the stock markets than the lives of the common man.
Helicopter Ben,
Please, pray tell me the ways of the common man. Having grown up with absolutely nothing, not even family, I invite you to relive your self indulgent life in my shoes. You talk about credit card debt? I once had 150k. You speak of 4-5 fig account sizes? I had one when I was 15 years old.
A great person once mentored me, taught me how to speak to rich people. He said “rule number 1 is to never, ever, speak with your own pocket.” Just because you think 699 dollars is a lot to you, that doesn’t mean it is to others.
As far as the comment of the conference being a “flop.” Far from it friendo. VIP is nearly sold out and we are on pace to hit our numbers.
Perhaps you should stop lamenting how pathetic your life is and do something about it instead. No offense intended.
Fly, I misread your flop statement earlier and was trying to explain it based on general demographics. I obviously went too far in assumptions about you as well as the reader class as I have met many people who improve their lot in life and suddenly forget what actual work is. It’s good the conference is on pace and I always wish you the best. I try everyday to improve myself as everybody should. I apologize for such an unbecoming comment.
Ben
Stop trying to make me feel bad for debating you.
Just a mistake on my part that led to another mistake of letting my inner Zeroed Hedge come out. I usually hold myself to a higher standard in these halls.
Volatility is good. Shaking the money tree.
As the Average Joe, I’ve been doing just fine holding my old man portfolio of Vanguard Total Market, AAPL, PEP, and MO. Haven’t needed any fancy algorithms and the money keeps stackin’.
shouldn’t it be either chocolated cake donuts or chocolate caked donuts that may be liked by the averaged Joe
We are already in a bear market and no one knows it yet. The divergences are epic. Small caps are death. Everyone should go to the IBC conference.
only one of these sentences is true
Alty
So serious. Clearly I am tounge and cheek. Lighten up Francis.
Fly’s evil gay twin:
http://bit.ly/1rc52qs
Can I invest 50k with you?
No
The Yen is moving like a small cap tonight. Booyah.
Any thoughts on the shippers? Positive articles on things picking up for 2015. DRYS?
Sir Fly – What do you think of my new Gravitar? Also, if you subscribe to the Netflixed.. You should check out the movie this is from – Only God Forgives. Something tells me you may like it.
Utilities going swimmingly thus far.
Thanks