First let me start off by saying there are just 5 spots left for the first ever, and most likely last ever, iBankCoin VIP cocktail party. If you wish to mingle, get inebriated and eat like a glutton, act soon. Pricing for general admission is still at the early bird rates. Once we pass a certain threshold, they will be going higher. I realize it’s a bit of a commitment and your wives don’t trust you. Nonetheless, it is your duty, as gentlemen of iBankCoin, to attend and grace us with your presence.
As far as this market is concerned, I know many of you are wondering how the market is up so much, yet your stocks are struggling. Just 70% of stocks are higher today and the energy sector is getting de-balled. Before I give you my opinion, just know, lower oil prices is bullish for retail, restaurants and chemical stocks. I expect names like TJX, M, ZOES and PNRA to continue to do well. Additionally, airline stocks will guide up, thanks to jet fuel expenses dropping. Lastly, shipping companies spend upwards of 60% of their operating expenses on fuel. I don’t have a stock for you there, as the industry has been wrecked. Nonetheless, it’s important to understand that lower oil is a big plus for numerous industries.
Cramer thinks Saudi Arabia is lowering the price of crude, on purpose, to bankrupt US oil producers. If true, that’s a brilliant plan. However, it will only result in giant oil companies buying up the property for pennies on the dollar. US oil production will continue, regardless of whether or not Saudi Arabia likes it. The true loser in all of this is Russia, so there are plenty of cross-currents in this story.
But one thing is for certain, at least from my perspective: today means nothing. If you made 0.1% or more, it was a good day. If you are underperforming, do not be concerned. This phase of WTI and Brent liquidation will pass. All of the sellers in EMES and SLCA will be castrated and the market is going to explode in October.
I am expecting the NASDAQ to lift off anywhere from 5-10% in October, climbing the wall of worry to new post Ebola highs.
Today’s action is nothing more than an opening salvo in what will be described as the ‘Greatest 4th Quarter Run’ in recent history.
Now you know my feelings.
Ciao (the most annoying form of goodbye).
https://www.youtube.com/watch?v=YdL2XSg-o-w
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Q4 is going to suck.
Not a chance. I am going to take out your innards and festoon my bedroom with them.
(Extra Hannibal Lecter)
More importantly, best pumpkin beers:
http://www.businessinsider.com/best-pumpkin-beers-this-fall-2014-9
God I hope you are right I need some big gains in Q4. It’s been a tough year with the indexes chugging higher and lots of stocks getting hit. I’ve basically given up and rolled it all into the SPX & NDX because the outperformance is huge, consistent, and I hope will continue.
With all of this Ebola, plus tuberculosis, paralyzing flu, etc, who in the hell is going to want to ride in a damned plane? I would never bet against you, but am very averse to the idea if airlines…
Only pussies think like that.
-_- Doctor – I don’t want to die…
I fly to client locations every week. It’s how I make my living–typical road warrior schedule. I’ve even been flying to Texas for almost a year now. I have no plans to stop.
Moonshot – I can only presume you’re now flying in a full-body hazmat suit?
Life is cheap. We are but particles of dust. Stop clinging onto what is fleeting.
Said by the man donning an Ebola mask since 2007…
GOOD TRACK, its been awhile since u have posted one.
‘I’m on a mission, that niggaz say is impossible
But when I swing my swords they all choppable’
I love reading your bullish theses, I almost always start breathing hard. Thanks doc.
MY STAND. I WILL BAN MYSELF FROM FLY.
IF IT GOES. HIGHER THAN.
2011
S&P
GAME
ON
no ban needed. you are a gent showtime
We can only hope.
No higher than 2011 until when? You’re obviously wrong in the long term. I think you’re wrong in the short term too. My prediction would be higher than 2050 S&P within 6 months.
2011 by next week. 2250 by Jesus’ birthday.
Showtime, I stopped blogging on my site when we went over SPX 1755. All of this is so strange. IMHO all of the movement over the past five years have been over the massive move in commodities which spurred the Chinese CNY, that money moved into massive Carry Trades of USD/CNY, AUD/USD, USD/JPY, etc. Since the end of 2013, with the announcement of QE ending, the commodity sector in China is slowing (esp with the Port Scandals), the Carry trades around the world should be falling apart like crazy with our stronger dollar and weaker China….but YET this market still stays up. Go Figure?
After all these years, I am still amazed at your lack of accurate research but you keep on truckin’ in a few years you will probably get close to being half correct
My deep down personal goal is 2092
Live or die by GPRO into the end of the year. It’s already made my year for me.
that’s insane. That stock is up a gazillion percent.
Ciao really is the most annoying form of goodbye.
Give me fashion or give me death, Ciao
Your phrase “Gentlemen of Ibankcoin” is a most annoying form of being sexist, but I know you do it purposely. Ciao.
I prefer the company of a lady anytime of the day, over stupid, barbarous men.
Also, are you ever going to sell Apple? I was long forever based on your comments about it.
hold that shit till you die n00b
I will never sell apple.
And now Blue Star, CI., says it’s a sell, and, franky, he nailed that down move with precision, albeit it was likely his 3rd or 4th attempt at shorting the market since June. Still, it was a nice call.
btw- You may have seen that Ben Bernanke said he was not able to refinance his mortgage recently.
I think this is a spectacle likely arranged by one of his clients, who may be interested in shaping public opinion for business purposes.
Certainly Bernanke could get financing “handled” with a brief conversation, no need to go in the front door.
It’s also possible Mr. Bernanke seeks to burnish his image with middle class people, for reasons yet to become apparent.
“I will never sell Apple”
I imagine it was the same mindset for RCA holders in the 80’s-early 90’s.
Absurd comparison to the largest company that ever lived.
That main page pic is from “Red October” isn’t it?
yes
Why not recommend balt. What has changed specifically about company since last time u said u would buy and hold since it’s the best shipper out there
Direct beneficiary of lower oils is plastics material maker berry. Great mgmt, great growth and innovation. A penny drop in pp is huge to their bottom line
Fly: any thoughts on the retirement of Brad Hintz? He seemed to think The Times They Are A-Changin.
For Jim Cramer and Oil, IMHO, with China Thermal Coal Prices dropping and China buying up Russian Oil on the cheap, we have a combo of a slower China Manufacturing and less need to pay top dollar for Oil. Oil Needs to come down fast and hard and the dropping of prices don’t surprise me at all.
Wow So glad to read that you finally connected with Shawn Meeks after all this time and his grandmother moved from Down south to Colorado and was the only woman to be ordained by the Dali llama and is now volunteering on a Llama Buddhist nun farm? She has truly been an inspiration to us all
please let Shawn know the some us still miss his Charts of Art
I will
hey wait a minute, why utilities & staples lookn so damn GOOD?
.
… So … yet another head is lopped off by these ISIS barbarian mother fuckers …
… another American is NEXT !!!
—–
And … we’re UP 200 + on the DOW !!!
PARTY ON, AMERICA !!!
—–
Oh … BTW … EBOLA IS IN “BIG D” !!!
GAWD !!!
Help Us !!!
.
Fly, man i hope you’re right about SLCA, i sold a few Oct 55 puts after looking into the company last week. 7+ points (12%) OTM the day i sold them and 3 days later they are ITM $.60. Appreciate your thoughts on this stock at this juncture to calm my nerves.
thats easy re SLCA -by the chart a 200Dday ema gang raping puncture through to 47 and change, then straight back up and through again till 60 handle.
enjoy the ride
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