Thanks in large part to the beard of Bernanke, we averted a stock market crash.
It’s funny how sentiment changes. Now, all of a sudden, banks and retailers are rallying— crazy man style.
[[ABK]] and [[MBI]] are screaming higher, while [[SHLD]] is kicking some serious low-end ass.Are people fucking retarded, thinking the credit crisis is over?
I mean, we have yet to see quarterly earnings reports or a really bad employment number.
However, in the short term, none of that matters. The only thing that counts is the delicate balance of fear and greed. Right now, thanks to the vix topping out at $37, after the opening plunge, investors are getting greedy for a “short term bottom” short squeeze.
With my money, I rather take the easy path and bet against oil. There isn’t much bottom fishing being done in oil, especially since lower oil prices bodes well for a stronger economy.
Bottom line, if you were lucky enough to scalp a few trades off the bottom, take profits, else see them vanish—like tanning oil in Angelo Mozilo’s “tropical room.”
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They have to justify another rate cut, so down we go boys.
All Hail Helicopter Ben!
Fly. can you give some buy/hold/sell recommendations on our favorite ETFs? FXP, SKF, DUG, SMN
thanks in advance, if my internet fucktardness deserves your answer
I’m getting kicked in the balls by some twit with UGly boots (DECK) on! What gives?
that did not seem like capitulation…. more like manufactured capitulation, like a bunch of smarties who feel like they timed the bottom. i’m still in cash, like a decision-less wank, so i’m not one to talk.
The financials and retailers leading this bullshit is self referentially, bullshit. No fucking way.
I’m out of all my inverse ETFs. Preparing to buy more QLD. Lots of QLD.
Come on Barbarella cavegirl bitch, that’s not a boot, that’s a tampon.
Fly,
What is the best retailer to buy:
a) Apple bottom jeans
b) Boots with fur
???
Looks like we might have a weak close.
Neither:
UA – Baggy sweatpants
GCO – Reeboks with the straps
AAPL and RIMM up nicely, I sure hope no one was suckered out of them this morning.
So, what happens if AAPL disappoints tonight?
I broke out my iPod, and it is talking. Seems undecided:
A Matter of Minutes: Shawn Colvin
Time and Good Fortune: Duncan Sheik
Too Soon To Tell: Bonnie Raitt
You May Be Right: Billy Joel
Mysterious Ways: U2
Where Will I Be: Emmylou Harris
How about the House of the Rising Sun by Eric Burdon and The Animals? It was my dorms favorite while protesting.
im buying aapl puts
It will be very tempting to grab some AAPL AH if it tanks. However, The Fly brainwashed me into thinking we go lower next Friday 🙁
Added another 250 long AAPL shares. Riding 500 shares long into earnings. Ride that horse until she tosses you. I have made money on the downside the past month, but have not totally bought into the market’s demise. Another words, I believe something like a bullish report and outlook from someone like APPL could bounce this market enough for profits to be made. It’s not necessarily all down from here.
I like this edit button – you can respond to someone that posted after you.
Alphadawgg – what if there is no “wash out”? Then all those waiting become the “wall of worry” that just serves to propel the market up, up and away.
Tradercaddy – that would be something if TXN mentions a stock buyback. That, on top of a positive AAPL report, would be an ass kicking for those that are beginning to be set in their bearish ways.
Gapping – no. Dont buy DCR, it’s a dog.
We still need to see that “wash out” day before I’ll even think about a trade to the long side. Doesn’t look like today will be the day. We need to take the ass kicking like a man and move on. This Fed bullshit just prolongs the inevitable.
TXN also reports in AH. It will move the chips. It has slower revenue built into the price, but I suspect they may ramp up their share buyback which would be positive for the price. It’s a crap shoot.
Fly is DCR still a buy?
I agree a wash out is needed.
However, can’t deny the bullishness of the day, either.
Went long CPHD and VVUS.
Fly, remember you said AAPL, RIMM, et. al. would kill VVUS on a bounce?
Wood, I would call this ‘bullishness’ short covering. Fannie and Freddie leading the rally with Ambaac and shld??? Heck no!
Wood,
Why the call on VVUS?
Wow…bought SHLD calls this morning on a whim (remembered some headline from the weekend about restructuring) and some technical backing (bounce off bottom of downward-trending channel), but mostly because I hated to sit idle, and BAM! 15 points in the bank!
If we are just beginning the our Bear Market, it will be quite a while before capitulation.
Carter Fucking Worthless
Alvari- relative strength and technical breakout for VVUS.
Calvino- I don’t disagree with you. A retest of lows would not surprise me. However, these types of days, throughout history, typically signal at least a small upside follow-through.
Don’t worry, I’m like 8% long. I’ll have a better feel for things this evening after reviewing the charts and looking at the internals.
Big block buys on AAPL
fuck this shit. i really wanted a down 500 day.
Wood-
VVUS?
“MUSE (alprostadil) is a medicated pellet that is placed in the urinary opening using a disposable plastic applicator.” [Who wants to stick a suppository in there? Fuck that.]
“MUSE should not be used by men with….abnormal penile anatomy.” [So they’re saying that because I have a big three pound swinging dick, I shouldn’t use it? (not that I would want to anyway)]
“You should avoid activities such as driving or other hazardous tasks within one hour of using MUSE because you may become light-headed, dizzy or faint.” [So, will I still be able to “get it on?”]
“Side effects can include penile pain.”
‘Nuff said.
No offense. I just thought the descriptions were painful and funny at the same time.
Also, I went long VVUS just to piss Fly off.
Fly, you staying short?
Sorry for the daytrading banter, but anyone else seeing the bullish H&S on the 2 min DOW chart? Head was the open this morning. Neckline about to be broken to the upside. If a true H&S, then we may have 500 pts to the upside. I am going to nibble to the long side with EWZ and UWM. Of course, will not take the position until the break of the neckline is confirmed.
Alpha- its their treatment for female sexual dysfunction that is the killer.
Do some research. There is no treatment/cure for loss of desire in women.
All clear back to 14,000+. Come on in kiddies its warm inside.
Please note I am getting messages from some friends wondering if the recession is over since we didn’t go any lower. LOL
but they have a drug for women too
Picked up final 250 block of long AAPL shares (750 tiotal, ave price $155.40). All set for the report and the mini rally over the next week.
Wood – thx for the info on VVUS
Dawg —
For my part, I always get light headed and dizzy after shoving alien objects into my mushroom cap.
I’ll have to do more research on the women’s product. Does it have something to do with putting something inside their “girl parts”?
Jake,
My guess is that the light headedness and dizziness is subsequent to the “Ieeeee….Arrggghhh, Fuck!!!”
Ready for Apple earnings!
Picked up some cheapo calls at the end…low risk, high reward.
Ps.: Chances are, everybody will be selling the news, good or bad. Still, it’s hard to stay away…
http://www.fool.com/investing/high-growth/2007/04/30/vivus-revives-investor-interest.aspx
It’s a mist … not sure what’s happened with the partnership and FDA approval but the obesity drug may have other pursuers/partners coming.
Sold to K-V Pharma: http://biz.yahoo.com/e/070809/vvus8-k.html
Seems the obesity drug is where the excitement is coming from ….
http://www.thestreet.com/_yahoo/newsanalysis/biotech/10380134_3.html
>> Qnexa is a combination of unspecified low doses of two currently approved drugs, Topomax (topiramate) and phentermine formed into a single capsule. The idea to combine these two drugs to help people shed pounds (the former is an antiseizure drug, the latter an appetite suppressant) comes from a West Coast diet doctor who claims to have used it for years with great success. <<