I am very sorry to inform you of this, but my top 3 positions are higher this morning (EMES, PANW, BITA) and you wallow about the dirty rugs festooned with devil dog wrappers and stale cheesed doodles. Looking at the tape objectively, plainly, it sucks. Small caps are weak. Bonds are strong and there seems to be an overall sense of pessimism in the market.
Howsoever, we’re still in september and there is a large wall of worry to climb. I expect the rally to ensue, full fledged, within 7 business days from now.
It appears I’ve jinxed myself, even before publishing this, as PANW is now lower for the day.
Lots of red ink out there. Let’s hope for a firming of the tape.
UPDATE: I started a small position in CYBR
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And QIHU keeps going down. Incredible short opportunity last month, on absolutely no news whatsoever. Never seen anything like this before.
Now down over 2% a day for six days straight, I believe. Can you believe this, Le Fly? Oh, wait–yes you can. You’re in BITA, not QIHU 🙂
QIHU didn’t impress last qt. In order to be released from its fag box, you need to wait for an earnings beat. A big beat.
Thank you for your wisdom, Sir Fly.
QIHU: maybe it is fraud like Muddy waters/Citron said 2 years ago and now 600% higher. How ironic would that be?
BlueStar: it would mean that every single ADS from China is suspect. QIHU’s annual reports have been audited under additional scrutiny since Citron’s research. Again, EXTRA accounting scrutiny from major American accounting firms.
It’s quite possible there are no major buyers out there until the next earnings report, or funds are liking BABA and BIDU’s more steady growth.
If it gets out that QIHU has been paying for users, this information will blow the top off of all Chinese stocks. They already had to modify a press release re: top rankings by confusing Chinese rankings with Google Play rankings.
By “blow the top off,” I mean utterly and totally destroy. In between that and HK, I’m thinking King USD stays strong and everyone moves into Treasuries and utilities 🙂
Having said that, check out December options. Whoa Nelly, amiright?
That stock hits $30.
OptionsTrader, you think this is going down by *another* 50%? You short? A little late, dontyathink? Capitulation just happened today…
P.S. OptionsAddict, now that you’ve chimed in, maybe we find out the founder has been selling his shares to make it easier for someone to do a buy out 😉
Hmmm…maybe unaudited numbers need revisions once formally audited?
It’s coming.
what’s coming. Tell us.
The final leg of this bull mkt. The final leg is straight up. A daily beating for bears until there are none left with homes, computers, or mobile devices with which to spread their insidious beliefs.
Then the mkt falls apart, of course.
I like the EW theory on this one… probably rip up until about late October to end Wave 3, then huge sell off into Novemberish for Wave 4 down, then wave 5 up for the riches.
Yea, that.
not quite how markets top. usually it’s 10-14 months of churn and heavy volatility and then the floor falls out . Elliot wave thoery is crap. the only ppl who make money with elitot wave are those who sell worthess newsletters
Those are some pretty crappy numbers. Pessimissim abounds, maybe Oct is the new Sept?
Arrrr!! Avast ye scum!
That is all.
Arrrr me matey! Shall we shiver the markets timbers or hold onto our doubloons and simple have our ways with the wenches?
Took a position in ARWR this AM at 14.85. Looking good so far
Also bot XNET looks to be the YY of 2013
I agree. XNET is a great opportunity here.
Think CMGE gets its act together once everyone stops fretting about Hong Kong?
How is SOL working out for you?
sol short working out pretty well
SOL sucks – flea market of renewable energy.
CSIQ is a much better company/stock.
market gonna drop hard real soon…ymmv
Reversal my ass. Your first call about correction was g?ód one. Just it gonna happen in october. Hope you wont get burnt too much.
Oil is getting clobbered… deflation get some
Bulls start to pray now. The market kind of weak
Plunge Team defending spy @ 197.00…could be futility.
shippers gonna come about??
With an investing time horizon of 40 years, months like this are a beautiful thing. I’ve been going bargain shopping for the last week and a half and will continue to do so. That’s the beauty of funding purchases with income and being 50% cash.
Le Fly {hawk, rake, spit} gonna feel the sting from the business end of the Stupid Stick, soon now – Le Fly will be rolling around in his own faeces, wishing for merciful death, as his starks fall like anvil thrown from empire state
Sell, brothers and sisters. Sell!
Last chance
You’re welcome!
Sold three weeks ago.
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