I was actually flat for the day. I would’ve been up had it not been for that murderous hamburger stock knifing lower on me each and every day. I walked away from today’s horrendous decline a champion, King of all Kings Boss of all Bosses. At least that’s what they want me to believe.
The only reason why I was flat is due to the miraculous turn in energy stocks, with SLCA leading the way for me. To be content with a draw is to be a servile, third estate, canaille, beast of a man. I am not a savage.
Pardon me as I fill up my wine glass to the brim, much to the chagrin of Mrs. Fly.
I am back.
It’s days like today that give you false hope. “I was only down a little, so maybe tomorrow I will do better.” And then the hammer of certain death punches you into outer space. Speaking of which, the homos at BBRY rebuffed a Samsung offer? Really? Those idiots need to be ousted from the company.
This is the bottom line: oil stocks made a miraculous rally today and are probably the best trading vehicles next to biotech right now. All of the issues with this market still persist and the bears are still in control. Despite the market being near new highs, let’s not kid ourselves, whole sectors have been a raging bear market for almost a year. We are getting more of the same and I expect death, extreme death, to come calling next week–should the transvestites at the ECB decline to undergo QE with irrational vigor.
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The purpose of Q.E. is to encourage
the purchase of stocks and avoid interest bearing instruments because there are none left to buy. Seeing as interest rates are already at fuck all how could Q.E. in Europe
be successful ?
QE is not supposed to lower rates. It is supposed to cause inflation.
Feel bad for BBRY longs now.
going to make a disk, spin it really fast to time travel, buy options, profit
I like the line “the ECB couldn’t organize a party at a bar”. Reminds me to expect nothing of those f’tards….especially some sort of market elevating stick save.
School us, Fly. Give us the “either / or” scenario. What happens if the ECB does QE, or (likely and disasterously) doesn’t?
Cocaine filled QE= gold/silver/stocks rock higher. Not oil because oil is priced in dollars.
Zero cocaine QE: bonds rally, stocks down, gold/silver decapitated.
I think the issue will be how large the QE program will be, if it is a dud, the market will turn and force his hand at the next meeting. Markets want shock and awe, similar to what the BOJ and FED have done in the past.
Dr., will this widen the spread between WTI and Brent?
No. The House of Saud is pressuring Brent lower.
can’t rule out the possibility of an increased crack spread with WTI exceeding Brent. the pre-2011 crack spread. would surprise me but trending that way.
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“I would’ve been up had it not been for that murderous hamburger stock knifing lower on me each and every day.”
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Doesn’t take Ralph Acampora to see that $HABT …
… really needs to somehow hold SUPPORT @ the $30 level !!!
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Oil is not immune to a ‘dead cat bounce.’
well I’m not sure I ‘dead cat bounce’ is apt. was covering due to options expiry. suppose that is apples and oranges. cramer’s remark was a bit astounding though. to paraphrase: ‘oil went up so sell the airlines.’ WTF. that came out of nowhere. why I never trusted the guy, he thinks his entire audience is filled with tools. unless it was a bad attempt at sarcasm – it was only backround noise so a possibility …
So financials are the next sector to be dismantled?
Oil just tagged the demand area from 2009 sucking in early buyers and getting shorts covering. Price could go up and down very quickly here for weeks, no reason to think it has bottomed here. It may be trying to bottom, but could take weeks or months. There is a lot of “old business” here to work through. This is a monthly chart: https://www.tradingview.com/x/OkUlT5Pl/
There is a huge fuckery move coming. The supposedly least likely would be a surge in rates. The ultimate pain trade for the eurotrash governments would be a bond market collapse. Far fetched no doubt but we will see.
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It is during turbulent times like this that I often harken back to the sage advice from three of the great Market Mavens of our generation …
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“Don’t confuse brains with a Bull Market” !
~ Humphrey B. Neill ~
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“It’s not how right or how wrong you are that matters … but how much $$$ you make when you’re right and how much $$$ you don’t lose when you’re wrong”!
~ George Soros ~
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“Everyone has a plan until they get punched in the mouth” !
~ Mike Tyson ~
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