The brokers are really fucking the market here. Rumors of mass Exodus at [[MER]] are destroying their shares. I can tell you, when times are tough, brokers love to leave their employers, in exchange for a big fat signing bonus at another broker/dealer.
The incentives are huge, typically 100-200% of the reps trailing 12. So, a million dollar producer can leave MER for [[MS]] for a quick 1.5 mill. Hell, in this market, up front money is very enticing.
With my money, I shorted more [[LEH]] today, mainly because I can.
The general feel of today’s tape was extraordinarily bearish. It’s this sort of tape that reminds asshats, who suck the balls off of [[GE]], that we are in a bear market.
As for me, I kept most of my longs, with exception to [[FMCN]]. I sold out 3/4th’s of my FMCN position, mainly because it did not respond to BIDU‘s numbers.
I will be looking to buy a few energy names, over the next few sessions. Too many jerkoffs are short. I will take their money, then kick them into an active freeway of mud stomping bulls.
In closing, “The Fly” feels like a fucking douche for covering his bank shorts the other day. In order to make up for this “pussified behaviour [sic]. he intends to punish the shares of [[TCB]], [[MI]] and [[LEH]], while living lavishly off of gains in [[SKF]].Comments »