The market shit the shower today, in dramatic fashion, thanks to the spastic ‘tards at [[CFC]] and [[T]].
Right now, I have zero confidence in the markets ability to sustain gains. As a result, I’ve been selling into this bullshit, all day.
Plain and simple, before we can bottom, there has to be bankruptcies and extreme pain.
My advice to you is this: take a look at your portfolio today and analyze how you performed. If you lost money, you need to sell more stock or hedge, via inverse ETF’s (prominently featured on the front page for weeks).
Worst case scenario, the economy slips into deep recession and your favorite stocks get cut in half.
Don’t be the dumb guy at the baseball game, waiting for a foul ball to come your way. The odds of you timing a bottom are slim to none, mainly because you’re too stupid.
As for [[MVIS]]—
It’s funnel action, as everyone wants out. Full disclosure, I have sold more than 80% of my position and will revisit it, late 2008.
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Believe it or not I got stopped out of SKF this am. Would you wait for a possible bernanke bounce tomorrow before taking more short positions?
no
Amen. Sage advice.
what your YTD% fly?
I’m amazed they’re going to let a $200 billion bank like CFC file, with all the counter-party risk to the money center banks and investment banks. It could be like knocking over the first domino, as fragile as the banks and I-banks are.
Get your helmets.
+7% ytd.
Nice.
That last hour had the smell of pure panic.
Any big follow thru in the a.m. should be bought for a trade.
Trading in the AH is quiet…………too quiet
Nice investment BAC made in CFC when it was at about $20, if I recall.
I had to be away from any market info for the last 2 hours of trading. Sorry I missed the slide to hell.
I had limit orders to sell my remaining SRS Jan calls. All but 2 got taken out about 10 minutes before the close, so got an excellent price — for today, anyway.
The small amount of FXP I bought near the close yesterday is looking a lot better than it did this morning. Also have covered calls and some utility and healthcare stocks that ran counter to the market. Made it a reasonable day even for someone who owns a big chunk of AAPL.
My surprise for the day, though, is to see my %(%*)#$@^! VDSI green on the day. Maybe buyers thought that a company called “Vasco” must be involved in cardiac treatment.
And MVIS is the only other company that could lose money producing Pd during a Pd price boom.
The Fly is God
Fly:
If China really goes all “back to the Stone Age” on us, then where would FXP be? What is the max price you see on the long term horizon?
I see $400+, but then again, I have no time machine.
The amount of bearishness on this blog is very interesting.
Just saying…
Just a couple of weeks ago, you stated that you and your friends were responsible for buying MVIS. Are your friends still holding? Or do you really have any friends?
Odd yes!
“The amount of bearishness on this blog is very interesting.”
You mean to say the amount of market wizardry.
Fuck face.
Show some internet respect.
“Just a couple of weeks ago, you stated that you and your friends were responsible for buying MVIS. Are your friends still holding? Or do you really have any friends?”
Wholesale liquidations.
I warned you all. Don’t cry now.
Hey Insect;
No crying here.
Watch for a countertrend spike thursday-ish, give or take … you’ve been forewarned ….. however, that spike should be sold/shorted.
China has not yet, nor ever will, leave the Stone Age. And if they did, some Prez would bomb them back into it 😉