For those of you who are young/stupid traders, listen up.
If the economy is in the tank, all Federal Reserve cuts will be met with selling. It will not matter, until economic growth recovers.
Keep in mind, we have yet to see a big spike in unemployment. If you think the market is bad now, wait until that shit brick hits the fan.
What’s amazing to me is the bullish sentiment of all my bearish friends. These fuckers have been waiting for this moment, forever. Yet, here we are, down a mere 7% YTD, and they’re trying to catch upside trades.
Unlike them, “The Fly” is able to bank coin in all kinds of tapes, with the marked exception of summer time tapes. As you know, by summer, “The Fly” will be fat and lazy, from living off the fat of the land, during the colder months.
It’s worth noting the annoying rally in [[XOM]], which is keeping my [[DUG]] lower.
How dare they.
If the Fed doesn’t cut rates by 3:00 today, we will close at the lows, no doubt.
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So you are suggesting that the market will go down day after day until economic growth improves which will not be before 2009. So if the Dow drops an average of 100 points every trading day of 2008 we will at zero by November no ?
Yeah, XOM is annoying the piss out of me. WTF?
Down with Rockefeller!
Don’t drink fluoride guys, and you may too become adept in remote viewing such as ‘The Fly’.
Didja notice that Cali’s unemployment rate rocketed to 6.1%….that’s gonna leave a mark.
The market just goes down every day. Although VIX spiked yesterday, there’s very little fear. No anxiety. The bulls are not fighting. It’s almost like everyone agreed stocks were too high and had to be taken down. I don’t remember the ’01-’02 bear having this feel to it. Anyone else?
I believe the Bearded One’s Princeton economics book would call it “pushing on a string.”
2001 was a recession no ?
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&st=2001-03-10&en=2001-06-01&id=p16579619100
Cap:
What kind of BS is that?
In 2001, the market got ripped to shreds, same with 2002.
Fool.
“Cap:
What kind of BS is that?
In 2001, the market got ripped to shreds, same with 2002.
Fool.”
LOL. Fly what I was trying to point out is that even in bear markets and recessions you can still get sharp rallies. In the chart above the S&P rallied 20% in a few weeks in 2001 amidst a recession.
Cap- There were a handful of rallies of at least 10% during that time . The recession in the early ’90s was the same way. The recession of the early ’80s and late ’70s was one that seemed to drag on and on day after crappy day. The great bull began in Aug. 1982 when everybody gave up. The bear will kill everyone (except Fly, of course) eventually and when the last person throws in the towel a new bull will begin.
Cap:
I know.
But, pull up some charts of early year declines and you will find the dips last until Mid Feb- Ealry March.
There will be significant rallies. My point is that they should be sold.
But in 01′ you could never be sure if the rally was real … by the time you got in, it was too late and off with year head …. after having that happen 4 out 5 times you get gun shy…
Good Luck with that!
This tape has rolled over halfa dozen times in the last hour, and everytime the Treasury has put a bid underneatht the futures. Complete and total fucking bullshit.
in 2000/2001 the market dropped about 30% before recovering. Currently we have dropped almost 20% from the peak amidst much stronger fundamentals than seen in the early aughts. I guess we could see another 10%… but I think several stocks are starting to bottom here.
Ed Lazier would win the asshat award if I did not nominate him for the cuntass.
The drop from the peak of last year, DOES NOT COUNT.
Money managers go with YTD data.
Thus far, we’re down 8.2%.
If you think the worst recession since 1973 warrants a mere 8% sell off, go long.
Be my guest.
face it fly, you are going to be out manned and out gunned by the bulls.
I am not trying to catch anything.
But I think the EWJ is good for a bounce here.
Ya buncha crackah ass crackas!