Oil can’t get any traction here, and copper is selling off a bit. The dollar is staying tame and the Euro still above 1.30.
With another jobs report tomorrow, will that cause the highly anticipated sell-off? making it 9 sell-offs in a row for NFP? Or, will $TZA continue to trade to zero?
There’s not much on my radar here, Fly pretty much summed it up yesterday:
The market should be sold here. Fuck what you see; do what men in top hats are doing: selling. This is a classic blow off top in the making; you just don’t know it yet. I am elated to see SFLY and SODA shuffle higher. But let’s face it, you have to be a fucking monkey with a hard-on to buy this shit, at these levels.
As a result, I’ve stopped looking for stocks to buy. The way I figure, if I’m not looking, I cannot be lured into money losing ventures. I’ve been fucked too many times buying into ejaculation. No thanks; you eat it.
I will get pretty light near the bell, and plan to take it easy for the rest of the day unless something jumps up at me. That $GSVC is starting to flag out here, maybe a another leg higher? That one still has my attention.
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KUTV H.A.M. again?
http://ibankcoin.com/rcblog/2012/01/18/trading-ideas-11/#comment-59519
Guess you noticed …
Nice call @ tea.
GMXR en fuego!
Agreements to purchase 35,524 acres in the Bakken (150/1,280 acre Units) and 40,191 acres in the Niobrara providing the Company the opportunity to switch from primarily a natural gas producer to predominately an oil producer — Issued equity for approximately $105 million of cash and $200 million in High Yield Bonds to make acquisitions and fund drilling — Suspended natural gas drilling in July 2011 to re-direct capital to significantly higher rate of return acreage — Reduced H&P Flex Rig contract obligations by $47 million — Successfully completed a natural gas VPP for $49.7 million — Captured $18.5 million of natural gas hedge value — Terminated credit agreement and related financial maintenance covenants; no longer dependent on commercial lending — Successfully generated $100 million in new liquidity in connection with Bond Exchange — Implemented plan to reduce cash G&A by an estimated 21% for 2012 — Established operational footprint in one of the largest and most competitive oil plays in USA — Prefunded planned 2012 drilling program with recent liquidity events
54% now…..Nice!
Ok make that 61% to bad FLY missed out on this one.
68% LOL