iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,422 Blog Posts

Reverse Lotto

Instead of banking big bucks on dicey Chinese solar burrito stocks, the market is ripping out the spines of speculators, then spitting them down idle drain pipes.

We have a scenario where leverage needs to unwind. It needs to unwind at the long/short hedge funds, who have a long bias. It needs to unwind at life insurance companies, who have regulated stop losses in place. And finally, leverage needs to be taken away from the investments banks, else they will taste pavement.

With every market crisis opportunities present itself. The trillion dollar question is: Are we low enough to start buying?

In my opinion, without doubt, the answer is no.

Considering the carnage in foreign markets, coupled with the massive economic problems at home, I suggest waiting to see some earnings reports, before stepping into the markets.

The last thing you want to do is start bargain shopping, ahead of some abysmal earnings reports.

Be patient you dumb fucker.

With my money, I will use any strength to sell more [[DECK]] and buy more [[DUG]].

In regards to crude, I believe we are on the other side of the mountain and can see much lower prices.

Finally, if you’re long, take a deep breath and relax; then start selling like an over caffeinated margin clerk— at an over leveraged firm.

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118 comments

  1. Danny

    sold aapl at 154, filled at 147.

    “That sucks”
    -Danny

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  2. Granpa

    Thank God Cramer is gone for a while, my mute button is getting worn out.

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  3. Juice

    fwiw, I’ve tried to buy a few bounce candidates & cover a few shorts. Stocks traded through my prices & I didn’t get filled.

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  4. JakeGint

    Well, Bruce… you know what Bette Davis says:

    “Buckle up, boys, we’re in for a bumpy ride!”

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  5. tehdrunky

    what price would you buy dug?

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  6. JakeGint

    Holy crap, DECK back over $120. Crazy.

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  7. JakeGint

    Maybe it is “holy crap?”

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  8. kd

    Fly,
    You think this is still a good time to sell?
    How much lower do you think we still have left another 10%, 15%….?

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  9. Juice

    financial led snapback in the works

    got to be careful on both sides

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  10. CAP

    If we close at the upper half of todays range than this is the bottom. SERIOUSLY the headlines can’t get worse. Everyone is screaming recession. The end of the world is near based on all the news stories. Apparently US consumers will stop spending money and therefore retail sales for the year 2008 will equal $0.00 . US homeowners will all default on their mortgages. 100 million homes nationwide will go into foreclosure. US consumers will stop eating and sales at gorcery stores will fall to $0.00. Americans will stop taking their medication and thus drug company sales will equal $0.00 .

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  11. Woodshedder

    Cap, you may be right, but doesn’t it bother you that you’ve been saying the same thing for over a week now?

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  12. jeff

    SMN?
    FXP?

    I say hold for now…

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  13. CubsRock

    Right on CAP, all McDonald’s and Wallmarts will soon be empty cause of this recession we are in…

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  14. TraderCaddy

    My broker loves me. Made 18 trades strictly homebuilders (RYL,TOL) and regional bank ETF (KRE). Done for the day and will now go play golf.

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  15. alphadawgg

    CAP Trying to pick a bottom here is dangerous to your account. Bottoms take time. Look at history.

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  16. Juice

    I’ll say it again … very dicey for both sides right here

    If you’ve been a bear & have minted money, you’ve got to take some profits & thats whats happening.

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  17. pablodpt

    Paul Krugman today

    Preemptive easing

    Wow. First the markets, now the Fed’s reaction.

    What you probably should know is that Ben Bernanke, in his capacity as a professional economist, spent a lot of time worrying about Japan’s experience in the 1990s. (So did I.) What was so disturbing about Japan was the way monetary policy became ineffective; by the later 1990s the short-term interest rate was up against the ZLB — the “zero lower bound.” This is alternatively known as the “liquidity trap.” And once you’re there, conventional monetary policy can do no more, because interest rates can’t go below zero.

    There was a lot of discussion of various unconventional monetary things you could do. But the best answer was not to get there in the first place. A 2004 paper co-authored by Bernanke argued that the ZLB could and should be avoided by “maintaining a sufficient inflation buffer and easing preemptively as necessary”.

    And here we go.

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  18. falanke

    I sold all my ultrashorts and purchased GS and ABX.
    Never fight the Feds.

    The Chinese, Turks, and Romanians do not know the subtleties of your hubris. Their mkt will only see one thing – Helicopter Ben. We will have a worldwide rebound tomorrow and your EEV and FXP will be burnt to a crisp.

    Fly, you’re an amateur. I beat your record last year with a 260% gain, and I’m up 28% this year…

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  19. CAP

    LOL WOOD,

    Yes I’ve only being saying it for a week. I would be bothered if I was saying it for a month or God forbid a year. But this is how bottoms are formed. Irrational panic and heavy selling.

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  20. Gunners

    fuck this rally, screwing my shorts

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  21. Black Bart

    Sold FXP first thing this morning. Will eat a rib eye later for the Fly.

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  22. alphadawgg

    Financials are up in reaction to Fed cut. But we are not seeing a broad based rally. Until we do, no short term bottom to this yet.

    Down volume is 2.5x up volume on NYSE at this point. VWAP on the decline.

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  23. calvino

    They haven’t learned a fucking thing. There is no more fuccin Walmart shoppers left, no more credit card, HELOC, refi bullshit, no more 0% percent GM loans.. it’s over fuckholes. Helicpoter is saving 300x multiples pieces of shit with this wonder cut. When shit like CRM and DECK and SHLD rally on this shit, fuck your restructuring Eddie.. this is not close to over!!!

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  24. Employee8

    anyone get a VIX reading?

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  25. CubsRock

    Home builders and Retail up nicely also alphadawgg.

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  26. Juice

    FXP & EEV pricing in a mongo asian/global rally overnight.

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  27. BOOMER

    cnbc testing a new hottie on a high viewership day. mark it down, shes a new reporter. and um… um… umm… dum.

    um.

    could she say um again?

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  28. gappingandyapping
    gappingandyapping

    FUCK FUCK FUCK Ameritrade is slow and I am trying to short ANF!`

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  29. Juju bear

    Nice call on FXP, Fly. It did hit 20 pts up this morning at one point. Time machine firing on all cylinders?

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  30. calvino

    Cramer cunt wants to reblow the housing bubble by trapping hapless homeowners in underwater loans. That’s gonna work.

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  31. gappingandyapping
    gappingandyapping

    Fuck you Joe Moglia your fucking website is down!!!

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  32. Weed

    Boomer,
    I love it when women go ummmm. Good vibratons.

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  33. CAP

    FTSE up over 2%. Here in the US we are making up for 2 market days in 1. We got that close to 500 point drop and now we rally. Up over 300 points from the lows. With Europe up, look for this rally to continue. Things are shaping up for a bottom. I think we have 7-10% upside from here. Wasn’t it Jon Najarian who called a market bottom for today.Something about lack of put insurance after op ex on Friday. Therefore people would sell Tuesday causing a sharp drop followed by a rally .

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  34. Weed

    VIX 30.55 + 3.37

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  35. CAP

    VIX made a double top 38.5 from its August highs. Bottom is in.

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  36. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    CAP, my son, do not sin in word and deed.

    We will revisit today’s lows before you get your “bottom,” surely even the sunniest servant of Apollo knows that much?

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  37. gappingandyapping
    gappingandyapping

    You fucking cum guzzling queens faggot ass licking ass plungers goddamit fuck you Ameritrade. You fucks shut off your phones now. Fuck you. Goddamit I am selling them short two times over now. Fuck!

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  38. bulliSHIT

    Fidelity is shut down….can’t even put an order in to short WTF!!!!!!!!!

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  39. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    CAP, my son, I fear you have been tricked by a “glamour” contrived by some ill-meaning pixie.

    Even the most generous of your technology gods’ charts shows this $VIX market totage at a mere 37.57 at it’s acme.

    I fear you’ve stumbled into the Labrynth and the Minotaur himself has taken you for wife.

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  40. gappingandyapping
    gappingandyapping

    izone.com gets you into Ameritrade if you are Apex.

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  41. DanB

    Just gonna put this out there Shorticus… last post… little fruity. Calling cap your son, combined with the words “glamour” (especially with the gay spelling), “pixie” and the whole “Minotaur taking you for wife” thing.

    that is all

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  42. duckbutter

    The bigger the cushion, the sweeter the pushin
    That’s what I said.
    The looser the waistband, the deeper the quicksand
    Or so I have read.
    My baby fits me like a flesh tuxedo.
    I love to sink her with my pink torpedo.

    Big bottom
    Big bottom
    Talk about bum cakes,
    My gal’s got ’em.

    Big bottom,
    Drive me out of my mind.
    How can I leave this behind?

    I saw her on monday, twas my lucky bun day
    You know what I mean.
    I love her each weekday, each velvety cheekday
    You know what I mean.
    My love gun’s loaded and she’s in my sights
    Big game’s waiting there inside her tights

    Big bottom
    Big bottom
    Talk about mud flaps
    My gal’s got ’em.
    Big bottom
    Drive me out of my mind.
    How can I leave this behind?

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  43. BOOMER

    anyone think MOT is down on AAPL leak? maybe iphone is crushing results? everyone i know has one of those things. hmmm…

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  44. BOOMER

    Shorticus is Woodshedder?

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  45. calvino

    Looks like the financials an retail is leading this rally. Good strong leaership, it is not.

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  46. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    DanB–

    Before turning you into a shiny eggplant till the Autumn Harvest Season, I will permit you an hour to have someone break you out a copy of Bullfinch’s Mythology — the pleasure of which you’ve apparently been deprived in your misspent youth or ill bred education.

    Perhaps this person will read you a few chapters as you sit on the vine and ripen handsomely.

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  47. gappingandyapping
    gappingandyapping

    So we are going green? Thats the bottom? Fad retailers are going to take off to the moon again? All is clear? What the fuck?

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  48. Richard A.

    Boomer MOT is down because of Sprint. They saw a large number of subs run off to V,T, and T-mobile.

    The Nextel part of Sprint is MOT only. Both phones and the network they run on(iden).

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  49. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Woodshedder?

    Better ye seek Bearonidus there. Ripper-off of all “bits” that are humorous.

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  50. BOOMER

    thanks richard

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  51. calvino

    Just covered shorts from this morning… fuck ing helicopter fuckhole faggot

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  52. Employee8

    Boom, Isn’t MOT reporting t’morro?

    Weed/Cap, Thanks for the VIX #’s

    GapYap, Etrade is wrking fine …. Odd, no?

    My longs are up and my shorts are down …. did Weed say Hummer?

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  53. Gunners

    i cannot believe this shit. we are up over 400 points from the open. damn i really fucked this up like the internet fucktard that i am.

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  54. gappingandyapping
    gappingandyapping

    Employee8: izone.com works fine for Ameritrade Apex. Although I am fucked being short here. We will gap open 1000 points with another 50 basis point cut and an ECB cut.

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  55. alphadawgg

    Financial crisis is not over by any means. We still have the monoline insurance company shoes to drop. Things are also spreading to leveraged loan area (private equity).

    Use any rallies to go to cash or inverse funds.

    The winds are blowing down the mountain, not up.

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  56. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Alpha speaks truth.

    My servant Bernake’s cutting of your primitive specie lending promissaries are a mere poultice of mustard and witch hazel placed against an arterial wound jetting gouts of life’s essence.

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  57. gappingandyapping
    gappingandyapping

    Just received an order for 10,000 furry boots. Evidently everyone is spending their $800 on boots.

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  58. calvino

    This is just a huge fuck you to all the shorts and a fucking squeeze played by cocksucker helicpoter.. selling more deck, have some cavegirls boots kelicfuck for your fingerfuck session with hammerhead hank

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  59. Hoplite Hank

    Shorticus,
    The merciful Bearonidus has retracted his request for me to place you in chains. You have done well to sink this market. He joins you in revelry and requests your presence at the next bacchanalian festival on Mt. Olympus.

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  60. calvino

    anyone wanna buy an internet company, 500x multiples and a 10x on the peg, come on guys, it’s a deal. crm

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  61. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Calvino, my son… I am pleased with your sacrifice of 12 genetically perfect goats and six vats of Medean Grappa, and am hereby granting your request to smite CRM.

    Both their CEO and smarmy head of sales have been afflicted with an aging deficiency which will render them wizened and addled by the end of this day.

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  62. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    And $52.25 (ie, right now) is an optimal point with which to smite CRM.

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  63. Dinosaur Trader

    “Life with diabetes is about going for it!”

    -DT

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  64. calvino

    I’ll put you on my Myspace friends list if you can make crm shit the bed.

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  65. NewbieWantsToMakeMoney
    NewbieWantsToMakeMoney

    Ok newbie questions to the Pros (whoever claims them to be), I am a college student trying to get rich. Should I invest all my money into DUG,SMN or any other ultrashorts now? I have abt 10k of hard-earned money from my ebay biz. I don’t mind losing them all for a chance to double. Thanks

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  66. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Feel no qualms about shorting the Cubes here again ($44.05), my children.

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  67. TraderCaddy

    Golf course too crowded. It must be the 78 degrees outside. Doesn’t anybody have a real job anymore?
    Looks like we need to test the bottom?

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  68. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    If you choose SMN, my son, then as my old friend and fellow immortal Percival, who guards the Grail, says:

    You have chosen….. wisely.

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  69. calvino

    and kick a rock up bidu’s ass if u r in the mood to help

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  70. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Calvino my son, have no fears about your CRM CEO defecating his mattress tonight.

    It’s a bonus of the aforesaid affliction.

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  71. PleaseKillMe

    NewbieWantsToMakeMoney,

    LOL. Just from your question, it’s obvious that you’re not ready for trading.

    You’ll make more money using that 10k to enhance your ebay biz. Looks like you’re good at that.

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  72. BOOMER

    Pay down any debt yo have with that 10k. credit cards, car loan, etc. you have lots of time to get rich if you build from the right foundation.

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  73. Ian

    NewbieWantsToMakeMoney

    You missed your shot to play the lotto. Now, you need to wait. If you are dying to lose money, bet on AAPL earnings.

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  74. CAP

    NewbieWantsToMakeMoney,

    Buy QLD. Hold it 4-6 weeks.

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  75. NewbieWantsToMakeMoney
    NewbieWantsToMakeMoney

    Thanks for all the sarcasm. I always pay off my credit card every month. I wont get a car unless my financial status allows me a Mercedes. Long story short, I am debt-free. I have 10k of cash lying in my saving account with a crappy 5% rate. I have read some cramer’s books… rich dad poor dad series. “I want my money to work for me” :). I did earn a bit of moohlah with Mvis by following the fly’s advice. PPL here are making big bucks from this fuked up market. I dun want to be left out.

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  76. JakeGint

    Anyone get any of that sweet SLV at $154.56 or lower this morning?

    I mean, besides me? ;0

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  77. JakeGint

    Kid —

    better off long in SLV and GLD right now. Or buy some leaps in those, if you want a little “get happy” leverage.

    Rate cuts means paper money floods.

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  78. CAP

    NewbieWantsToMakeMoney

    Go long via QLD DDM SSO . The market is very oversold. Based on the comments u r reading on this board, u can tell most if not everyone is short the market. Therefore its almost guaranteed the market will do the opposite. Take August 16 2007 for example. Everyone was throwing in the towel going short. If you had bought that day, you would have been up over 10% in a couple of weeks. If you were long QLD DDM SSO you would have made 20% in a couple of weeks.

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  79. BOOMER

    wasnt being sarcastic, mr thin skin. i suggest you go stand in the cold until you “thicken up.”

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  80. TraderCaddy

    Stay away from trading. Get a good job, save your money, dollar cost average in a well diversified portfolio and when you have the capital keep your eye open to start your own business. Most fail as a trader and your odds are better if you have your own well capitalized business.

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  81. JakeGint

    CRM gets at very special Ray Liotta Laugh with a “Bing! Pow!”.

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  82. gappingandyapping

    Jake you think we still go lower?

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  83. JakeGint

    CAP– let me ask you a question. Have you been net short at all since mid November?

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  84. JakeGint

    Gaps. Hell, yes.

    You think all that shit from this weekend is just “poofed” away because Helicopter Ben decided to cheapen our currency again?

    Keep in mind the $VIX action here… the market is still full of delusionals who think this is just a “temporary blip,” etc.

    Guess what? If it were, Bush wouldn’t be talking about mailing out $800 checks, and Helicopter man wouldn’t be cutting rates 75 bps.

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  85. TraderCaddy

    I didn’t like the fact VIX didn’t get to or stay above 40 at all. My broker answered my phone call on the second ring and I never felt like throwing up during this “decline.” It can’t be the bottom, temporary or otherwise.

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  86. jeff

    newbie

    If you want to play it that way, consider options.

    options on fxp

    calls on gold stocks

    only play with 2k and put the rest in gld, dxddx, prpfx

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  87. Flux Capacitor

    Jake and Caddy: ditto – today is too anticlimactic, after yesterday’s global shitstorm.

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  88. CAP

    Jake,

    I’ve been net short since early December via QID SRS SKF and some DXD SDS FXP. 30% of the portfolio has been in cash. Sold of QID last week . Added a little QLD last week in small increments. I build up a position using 10-20-30-40. Right now I am at 30% of my intended QLD position. Will likely add more depending on strength into todays close. Sold half my FXP today. Might sell more SKF and SRS. Financials and RE will likely bounce hard in coming weeks. We are in a bear market but a countertrend rally is close at hand probably starting today.

    And close to 20% of the portfolio is in GLD SLV and DBA. So I am up substantially YTD.

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  89. Newbie,

    I agree with the earlier sentiment that you need to put the money where it made you money – in your business. Once you get a block that allows for continuation of your business AND investing, you can make the trading/investing mistakes that are necessary. Taking all of the profits from your business to invest may be ballsy, but could lean to a fucked up mind set that ultimately damages your business as well – not a good state to be in. If you must, take 20%, have fun with 4 different trades and take the rest and beef up you’re true money maker. If you lose the 20%, wait until you make it back with your business – all the while studying what went wrong and learning from your mistake. Three strikes and you are out. Another words, take a long vacation and educate yourself if you lose 6k over the course of the year. Not everyone is cut out for this business. I thought I was going to be a futures trader because I had the money and could sustain losses. However, 100k later and I needed to admit that futures were not for me. Good thing is that I didn’t lose the farm before I got to the conclusion. Whatever you do, do not get geeked out and lose all discipline. Develop a plan and stick by it even if that plan includes walking away from trading if you shit x dollars.

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  90. Brandon Jacobs

    I got a motherfuckin’ chuckle out of this. German Cowboy fan.

    http://youtube.com/watch?v=K2triiYXSY8

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  91. PleaseKillMe

    Newbie,

    Let’s just get the pain over with. Take all your money and short AAPL with me before market close.

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  92. TraderCaddy

    Newbie:
    Go over to the Peanut Gallery and watch the video posted by MDAWSZ entitled “The Stock Market Ruined My Life.” It was posted yesterday at 2:54 AM. Think twice about trading for now.

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  93. Alvari40

    Brandon,

    Too fucking funny!

    Killme,

    Just went LONG 250 AAPL shares! I was in Park City over the past few days, and while I sat in the hotel with my family, I noticed all the fucking Apple gadgits on the table – 2 Iphones, a video ipod, and nano ipod….WTF? I never owned an apple thing in my life and now I have all of this shit? Told myself I was going to pick up those shares as my one long vice during this shit storm.

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  94. Juice

    The world coming to an end has been priced in … for now.

    Beware we may have to price back in eternal life for a while.

    Place your bets … or take a vacation.

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  95. Propsectus

    @TraderCaddy:
    Ironically, if HPT had held his position, he’d only be down 100 Dow points now.

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  96. CAP

    “The world coming to an end has been priced in … for now.

    Beware we may have to price back in eternal life for a while.

    Place your bets … or take a vacation.”

    Well said Juice !

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  97. kd

    Newbie,
    Wait 2 to 3 weeks for shit to settel and INVEST in MVIS (and not trade) with 2 to 3 year outlook. Park that money and forget about it for 2 to 3 years. As you said you can risk 10k then I say, and fly and others may agree with me on this, MVIS offers the best risk/reward ratio. I personally believe investing is lot more profitable than trading over the long run. Some people have to time markets because they have to meet client requirements, meet margin requirements or have to pay bills from the profits. If you don’t have to deal with those things than just invest and don’t try to chase the quick buck. Some very smart said this: first rule not to loose money and second rule don’t forget rule number 1.

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  98. Alvari40

    Goin green boys! What a fuckin gap closer.

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  99. PleaseKillMe

    Alvari,

    Cool. I’m playing the risk/reward ratio here. I see bigger downside than upside short term. With Zune getting more fanfair this Christmas, AAPL suppliers cutting production, and Job’s iPhones numbers disappointing investors at MacWorld, the risk outweighs the reward.

    Also, I don’t see MacAir as a game changer like iPhone was. AAPL shares might be going from growth investors to value investors from here on out.

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  100. NewbieWantsToMakeMoney
    NewbieWantsToMakeMoney

    much appreciate your advices.

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  101. gappingandyapping

    Am I number 100? Fuck I guess they sounded the horn, all clear to get drunk and buy stocks!

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  102. goatblowtacus

    CNBC goat fuckers now speculating what the FED will do at their next meeting. WTF is this a crack house?

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  103. TraderCaddy

    STUPID ME. I didn’t know the job of the FED was to make sure the stock market always went up.

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  104. joesb

    Glad as fuck i bottom ticked this morning while CNBC was instilling fear and I made more than I ever have.

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  105. Alvari40

    Please Kill,

    Difference between you and me on this trade is that you have sound reasons based on an objective assessment of competition, stock valuation, and product popularity. Me? Well, it’s pure gambling based on casual observations of product, stock price drawdown and market capitulation. We have all been led to believe that we know what is happening with Apple products and stock valuation. However, they have all been proven wrong up to this point. There will come a day when they are right; however, this is not the time given the holiday shopping season just passed. During that holiday shopping season, many, many stores were empty; however, that was certainly not the case here in No Cal for the Apple store – packed every time I walked in. So, based on nothing more than my ameturish observations (no number crunching here) and a twitch in my left shoulder, I am pushing my long position in this one stock. I think the fallout from macworld was way overdone and the short covering after the report will be worth a nice long trade. Longer term, you may be correct. However, I do not believe that will be today. But remember, I am the sorry fuck that went long INTC before earnings. Once a dreamer, always a dreamer.

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  106. calvino

    There is no fucking fed anymore. it’s been merged with Treasury.

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  107. nullpointer

    calvino:

    do know that i will be rooting for you on the CRM short. i am a software engineer, and i am telling you, a couple guys could write that thing (i.e. their “product”) in about a month. i have had interview questions that were more labor intensive.

    i typically dont hate, but there is something about CRM that just sticks in my craw. complete P.O.S.

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  108. CubsRock

    Now they are pumping buying Puts. Today was the perfect chance to load up on Calls.

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  109. goatblowtacus

    I think Cramer is going to be drinking cheap whiskey and throwing kerosine and firecrackers into his lit oven tonight

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  110. calvino

    null, thanks for that info. I know that they are up against the two most greedy grubs that have ever lived. If Bill Gates and Larry Ellison can take your money and bankrupt you, they will.

    Post Scriptum. Still can not explain the BEA purchase – well yes, unless that’s just eliminating competition in a monopoly move.

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  111. BOOMER

    I think AAPl is goning to blow it out tonight.

    Santa bought me a MacBook Pro. Awesome. Unreal. The stores were packed, people falling over them selves to buy. Old ladies getting training. Kids playing games on those rubber ball chairs. hipsters “multi touching” the new iPod.

    AAPL is the new new. Hot in music. Hot in puters. Hot in phones. Hot is the new new. So AAPL is hot.

    Wait just in…Orange is the new hot. AAPL is orange.

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  112. Weed

    Consumer discretionary and industrial ETFs have joined financials in positive territory so far.

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  113. BOOMER

    who is this moe on cnbc? is that tom petty?

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  114. nullpointer

    cal-

    the bea move i understand; better app server than orion, the last one they bought (LOL), and a sizable install base. we are almost to the point where there are only 2 or 3 one-stop choices for the entire stack.

    on a somewhat related note: the stupidest thing i have seen in the space was SUNW (ok, JAVA, whatever) paying a BILLION FUCKING DOLLARS for MySQL. Thats just retarded.

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  115. Alvari40

    I flew in to The City yesterday and was nauseated by the number of iPod billboards – all over the fucking place. There will be a backlash, but it ain’t now.

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  116. Employee8

    Sell AAPL on the ER before it gets bitch slapped!

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  117. DanB

    Boomer,

    Everyone expects that AAPL kicked ass. At some point, investors will be hypersensitive to forecasts as things continue to slow down. We are numb to the bank forecasts, but we ain’t done with earnings yet…

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  118. bulliSHIT

    here’s how i see things:
    10,000 on dow. 100 on fxp.

    Avg recession decline from peak to trough since 1950 is 32%. Here are a few examples:

    2000-02: -49%

    Aug87-Dec87: -34%

    80-82: -27%

    73-74: -48%

    You could argue that 73-74 was a similar time with Vietnam, oil, etc but I’d need to do more research. Either way, if you believe we’re in a recession, there’s much more to go since we’re only down 16% on the s&p. you have to stay in the short and buy more on strength for it to work.

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