It’s sort of like waiting for a bus, in a really bad ghetto—always a bad idea.
With [[GS]] numbers due, “The Fly” has zero interest “playing a bounce.”
This is serious business, ladies and asshats. Instead of getting all confident, buying dips and shit, why not play a few games of chess or darts?
Right now, I’m setting up for a worst case scenario, which I anticipate to occur early 2008.
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Do you cover around SPX 1400 or hold tight for “The Big One”.
I think we chop around until January when earnings and earnings visibility will result in a repricing. Not sure which way that will be but think folks are prepared for worst possible scenario.
BKX holding 88 is a good sign IMO.
Solly Challie.
recession is a done deal
still lots of downside, not withstanding bear bounces
the bear has arrived, all cash and looking to short any spike up. downside is 20% on the S & P early next year. Folks, this is a recession.
We wirr have a nice bounce the first week of the New Yeah.
You guys are arways a dorrar sholt and a day rate.
you ladies need to quit watching so much CNBC, its messing with your reasoning.
in what i view to be the perfect storm of contrarian indicators, everybody on this blog is bearish, and barrons actually had a bunch of bullish things to say this weekend….while barrons individual picks are shit, their macro forecasting is usually pretty good (but usually 2 or 3 months early).
you guys will make money in the short term, but you are gonna get burned in the end.
NewE- what changed?
All of you are late. The Honey Hole was dishin’ out honey, at least 3 times, over the past 2 weeks, and NOW you get bearish?
Based on my proprietary (and priapismic) chart-reading methods, I can state with confidence that XFML is nearing a bottom at -$3.45.
The company will turn around when, after a surprise merger with SWC, it introduces poster ads printed on sheets of Pd.
The Nasdaq closed the big gap.
I’ll look at the technicals tonight. A bounce might be in store.
Market conditions and leaders like RIMM and AAPL breaking down on volume. Initiated two double-shorts this afternoon. Will cover only if we close above Friday’s high.
Sounds like a good plan NewE, though we will no doubt get another oversold rally soon.
Your best bet to judge when something has changed is to look at the downtrend line of resistance that has been established starting from the Oct. high. If that get seriously busted, you know, a break above it, and then a successful re-test, there will be a big rally, imo. But I don’t forsee that for some time.
Wood, if there’s a bounce, it’s not going to be much, or if it is a decent bounce, no follow thru on the upside.
We are in bear mode for the near term. One more time to test 12,750. However, I don’t expect it to hold the test and we’re going to see 12,000 before all this is over.
I think neweq’s 20% downside on the S&P early in 2008 is a bit overblown (how did he come up with that number?), but we go down nonetheless.
juju, I don’t see any sustainable bounce either. I do however note that even in bear markets there are rallys that take the indexes up to or just above resistance before resuming downtrend.
I’ll have to look more in depth tonight, but most everything is looking oversold to me at this point.
Oversold is the word… at least over here.
We have a lot of short covering here today, which I’m hoping develops into a squeeze. Not really bullish enough to charge in head first, but have built up a nice collection of call warrants that should reap some decent 50%+ moves in the next day or two.
Cleaned up with some index put warrants over the past week or so, to the tune of around 200% 😀