Yesterday I alluded to three things that needed to happen in order to get the market going, for the sake of Santa Claus. The exact opposite has occurred and we are now descending into pure anarchy.
Although some of my positions are resisting the temptation to trade down, it’s inevitable, at this point, that all of them will. The downward action in oil has scared the life out of people. It’s not only that, frankly, but the price of iron ore, dry bulk shipping rates, and copper too. I am painting a very dire scenario for you because that’s what’s being presented. If I wasn’t so stubborn, I’d bulk up on utilities and REITs here, discard the high beta crap and be done with it.
Unless oil reverses off the lows, I am not optimistic about this market and fear it can start unraveling rather quickly.
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Buy some puts on oil related stuff – USO, leveraged E&Ps. You will feel better.
Time to buy points was a loooog time ago. Market may be down 300 today. Yesterday was a bull suck in job. Today it will be anarchy in the markets. FLY this fucking site has too many pop ups!!
Correction “time to buy puts”
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Based on your thesis that lower oil prices puts extra bucks in the pockets of consumers … why aren’t you buying retail and restaurant names?
He’s either chicken shit or doesn’t really believe his own ramblngs.
I initiated my long oil position. via ‘OIL’ at 14.51. nickel position.
@Fly what’s your take on NLNK here. Looks beautiful to me
IWM still holding steady. Maybe they haven’t run the sell programs yet.
We should sell Texas to Mexico before its too late.
Tejas.
Fly, with all do respect, listen to yourself; you are capable of changing opinions three timae a day from one extreme to another. Yes your posts carry good entertaining value, but honestly, other than that, are they supposed to be helpful navigating financial markets…
I don’t see any reason to respond to you.
Maybe a hot slice of pizza to his face should be your response.
This market is in unacceptable condition!
This decline in Oil related stocks looks eerily similar to the 2008 EOY charts for the financials. Tread carefully ….
appropriate hip-hop video…that is if you are still shinin’
https://www.youtube.com/watch?v=gps6J9SKi6I
I buy Assured Gty (AGO) @ 25.91…Let the desolation begin
We need an economy to emerge other than China that can make use of all this shipping and cheap iron, copper, and oil/energy. They just can’t keep building at the pace they have been over the past couple decades.
In order for that economy to emerge, a country has to be able to offer something for those goods & services. China worked because of a massive population who could offer cheap labor, with an advantage of having control over much of the world’s rare earths. The only other country that might be able to build on a scale close to what China has done is India. They have the population at least, and their rivers flowing with diarrhea would suggest they need some serious infrastructure built, but what can they offer other than cheap labor that is already being provided elsewhere in Asia?
Tech support?
Bought PEIX at 10.95
Are REITs getting crowded?