I took today off to escort Mrs. Thaler to an appointment. We got back a short while ago and I just finished making some lunch.
Looking at the market then, my mood is sour. This run up is mostly unwarranted. Do you have any idea how much energy it will take to nationalize the entire European banking system?
I am mostly tired of every jack off pricing the rest of the world ahead of America on every issue. “Well, China is superior because they’re communist and won’t let their economy fail.”. “It is my opinion that the more Socialist countries of Europe can support their banking system far better than us here.” “The emerging markets are far better situated to weather this storm.”
You people have no national pride. You surrender your country to foreign nationals, declaring their superiority at the drop of a hat, and without any evidence at all.
Why would China be free to face a housing collapse without injury, when we could not? You would put your faith in a nation of bureaucrats with no respect for it’s citizens rights over our own home?
This is appalling to me.
Well watch yourselves carefully fools. Faith placed in such a way is faith misplaced. At the first sign of trouble, what do you think the “infallible” Chinese will do to an outsider?
Your investment will be the first loss. The Chinese nation’s ignorant and minority groups will be the second. The People’s Republic of China goes third.
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The Chinese are far more efficient at lying and removing the doubters…
They also have more cash.
are we near the top then?
this is just insane, nothing resolved. Just your plain vanilla short squeeze.
we should trade lower (no bear shitter) before we can really move. But heck last year this time we ripped hard.
I’m trying to stay as objective as possible, but zooming out to a monthly chart sure looks like we’re on the other side of the mountain, regardless of how strong this move is. Two month rallies all the way down are not out of the question.
I liked your previous idea of trying to double your position size without impacting your net value. Far easier said than done.
I try to navigate this market on a daily basis and I will say this. The number of head fakes I see is fucking mind boggling. Doesn’t matter what time frame you look at. (5-min,daily,weekly)Support/Resistance are out the fucking window. Break outs, turn into reversals on a regular basis. New highs are faded, and new lows are bought. Simply insane. Looking back over the passed few months, I can see at least a dozen or so times when this market looked to have recovered, only to break down in the next week. Knowing the above, I believe this “breakout” is going to be faded. This rally is the Markets way of sucking in as many bottom pickers as possible and shacking out the weak shorts, before heading lower.
Who knows…Many we continue rallying for the next week, but I haven’t positioned myself for that.
the chinese have a built in gene for deceit. it’s a way of life for them.it’s how they think business and gamesmanship is conducted.so it’s ok to screw the ones you deal with on a daily basis,no matter what it is they are doing. so if i screw you out of,”whatever”.than, thats ok,it’s their culture. but they go to far. and thats the problem.cheats,thieves, corruption, bribery. geez,youd think they learned all this from americans.
Are you saying the Chinese are Ferengi?
ee gad that’s classic!!!
On the flip side, our markets should not have sold off 20% to begin with just because Europeans are a bunch of fucktards.
But should it sell off more when news of a China Collapse starts to hit the presses?
Agreed, Europe be damned. China is the much bigger issue.
Thank you gentlemen, thank you. I couldn’t have done it without you. This community is amazing. Reading here truly brings out the “A” game in a trader. Thanks again for all your hard work. It is much appreciated.
I think the Chinese got into stocks at some pretty darn good prices. If some of us got in before them, hat tip to us. That’s what capitalism is all about.
Dear Mr. Thaler,
I swear, at times, your writing is shear poetry, like Pablo Neruda. Would you mind bringing a manuscript or two, to the next open mic nite? I don’t know how you and Mr. Fly do it. How can two mere mortals be so talented? Back to the markets. I am positioned in size for JPM to shit the bed tomorrow and the market to react in kind, just in time for people to realize they are staring a great big weekend of potential European shenanigans straight in the face. Is this world of ours too small for full moon fuckery, Hindenburg Omens or just plain ol’ channel trading? The clam lover in me says “yes” while the romantic says “no”. At least there will always be poetry.
@horsetradin nice #’s call on the jp morgue no? yes? ouch,maybe.
I’m gracious for the kind words.
Nice move shorting JPM.
CT — check out how you and Wood have dueling headers today. Love it.
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I saw that; I did worry some. Wood is a respectable analyst and I don’t like sitting across from him.