Someone left a comment the other day, accusing me of being overly dramatic. He said the market was merely correcting, all very normal aspects of a bull market. Fucking moron. I will show you the type of normalcy this market has been exhibiting over the past 30 days, the type of stuff ordinary for a day in red hell.
(Stock, YTD returns, min mkt cap of $1 bill)
Basic Resources (median return -21.5%)
CHK -61%
ETE -58%
MPLX -56%
PAH -57%
ENLK -51%
Consumer Goods (median return -18%)
VC -47%
GPRO -43%
TSLA -37%
FCAU -34%
ST -34%
Financials (median return -16.9%)
NRF -47%
AEL -46%
FDC -46%
CS -41%
SC -40%
Healthcare (median return -21.5%)
ALKS -60%
RDUS -57%
PRTA -56%
RARE -52%
ACAD -50%
Industrial Goods (median return -16%)
ABGB -47%
TGI -40%
MOG’a -35%
ESL -35%
CSTR -32%
Services (median return -17.3%)
FRO -88%
HTZ -49%
LGF -42%
RH -40%
URI -40%
Technology (median return -21.1%)
SCTY -67%
DATA -57%
LNKD -54%
FIT -53%
MOMO -51%
Epic carnage.
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Yet so many still buy the dip, not sure why? Well, actually everyone Buying for the last two years have been really confusing for me. It is so ugly out there, yet they ran up the indices?
Dr. Fly, think we can see something like this? I believe yesterday you said this was more serious than the last crisis…
http://content.screencast.com/users/toad69/folders/Jing/media/de5193f2-e606-4afd-b4f3-002a0184a2c2/2016-02-11_1204.png
FYI, I think your stats on FRO are not accounting for its reverse split.
Fly is never wrong.
Click bait. Prepare for upside.
$40 may be first target for good old /CL…. everything lined up nicely for oil rally.
http://content.screencast.com/users/toad69/folders/Jing/media/f15dcbf2-e9e1-486f-90f1-1f310e58302e/2016-02-11_2255.png
I feel like a celeb having been called out by you Le Fly! Indeud. The “fucking moron” comment seems a bit offsides, esp. for a gentleman.
I will say the stocks you mention here LNKD, TSLA, FRO, FIT, GPRO… How do these stocks matter in the long run? Aren’t you long SPY?
I didn’t say I disagreed with your analysis simply stated my opinion in the change of mood and raising the stakes in your language. You’re post used to have more of a sarcastic flare…fun and funny. Enjoyed reading them daily. Have been a ppt/exodus and 12631/traders lounge member since 2010. Look not every bit of commentary is an argument Fly but you immediately take a defensive stance by going into attack mode.
You certainly have stepped things up around here from Exodus to the new look and feel of the blog. I wouldn’t want you to feel your tireless efforts are going unrecognized. With that having been said, I am a loyal customer and reader, are my thoughts on the blog really not welcome?
Sure, I know, you don’t need my business or anyone else. You have your own money as you have stated time and again.
I know it sucks to be in your position as head guy at ibc. No one ever really recognizes your efforts the way you’d like them to and frankly no one is going to invest as much or work as hard. In retrospect I should have been more thoughtful about submitting that comment publicly. You’re a genius dude, I respect and admire you and all you have accomplished here. I’ve made a lot of money with PPT/Exodus and the boys over at Traders Lounge.
gpro, that time honored benchmark of retail lol
Every correction / bear market has to be accompanied by excessive drama or people would ignore the declines. The market is currently positioned with low enough prices to create another epic squeeze leaving sidelined people wondering what happened. Not saying it will happen but the scenario is set up perfectly.
If this is a recession please tell the thousands of drivers clogging the roads around here on a Thursday at Noon. It’s insane. Apparently they don’t see a recession.
I thought “overly dramatic” was a compliment.
UBS just issued a price target of $0.50 for CHK, A year ago it was in the 20s. I’m guessing that Carl “Carl” Icahn is feeling overly dramatic about this.