Today’s melt up, erased Friday’s melt down. Quite gay, if you ask me.
Much to my chagrin, crazy people continue to press their bets in banks stocks, causing swift annihilation for holders of [[SKF]]. Despite ridiculously bad economic news, market participants are painting the pig with gold—snapping up asshat stocks like [[KBH]], [[PHM]], [[BAC]] and [[WM]] in size.
The downside of all of this optimism is a Federal Reserve let down. If so, prepare to die a very “unglorious” death, at the hands of filthy old bearish guys.
Quite frankly, I hate bears. As a matter of fact, even though I am bearish, I still wish all perma-bears a unique death, similar to the one’s featured in Final Destination.
On the long side, “The Fly” managed to pare some of his stubborn bears bets with gains in [[RIMM]], [[CLX]], [[GME]] and [[GD]].
In short, I am not willing to go “all in” on the bear side, especially ahead of an FOMC meeting. Additionally, throughout time, the market always seems to find a way to fuck the bears.
Lucky for me, I own a time machine. Therefore, I do not need to wait for “time to tell” anything.
Off to prepare several 2 1/2 inch rib eyes.
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“Despite ridiculously bad economic news, market participants are painting the pig with gold—snapping up asshat stocks like (KBH: 25.77 +8.96%), (PHM: 13.80 +5.34%), (BAC: 41.15 +4.23%) and (WM: 16.95 +5.15%) in size.”
Looks like bottom action to me..
You’ve been trading this tape very well. It’ a bitch and has nearly killed me. I managed to “homo up” 200k in losses at the worst, but have carved back 100k of it.
Chest
Tight
Too
Many
Biscuits
Send
Help
Looks can be deceiving…
bottom or covering, you decide.
indices are broken. you want easy, sit in cash until they are unbroken. then go long.
fuck bargains. you want shit going higher.
Boomer,
BOOM, BOOM – out go the lights.
Careful man.
Consider the possibility that the fed stands pat and goog misses. All the rogue uncontained dope on a slopes will be printing worthless pesos everywhere.
Perma-Bulls, Perma-Bears, they are both gay if you ask me (of course you didn’t ask). I say perma-Bank is the way for me. Anything else is just roadkill.
Melt up today & tomorrow.
Armageddon on Wednesday when the Fed cuts ‘only’ 25p.
End o’ story.
clearly a short squeeze but how much more can be squeezed? market goes down on msft positive report on fri and goes up on terrible housing and earnings data. the ISM and NFM data are released at the end of the week. the ISM and NFM figures are what pulled some of gay bears out of the closet. if the ISM figure goes down a few more points, it indicates a recession. if that happens, bye bye to the dow’s 12 handle.
i do hope the mkt rallies just so i can add to my short position.
What it comes down to is this:
At the end of the day, you have to be able to go home, look yourself in the mirror and say, “I fuckin’ banked coined today.” If you can’t say that, give yourself a set of steak knives.
Bumped (for importance sake):
______________________________________
Children, Children!
What is the meaning of all this weeping and wailing at my Temple this morning?
What is it you fear? My buffoonish servant — bearded like Sophocles with a third his wit?
Be at peace, young ones, I bring you a horn of plenty dipped in Apollo’s kissed golden honey comb:
Children when the transparently damaged CETV approaches $89.20, you’ve a blessing from both me and Zeus.
Short that Athenian bath house whore with two bags of golden denari, children!
“bulliSHIT Says:
clearly a short squeeze but how much more can be squeezed? market goes down on msft positive report on fri and goes up on terrible housing and earnings data.”
the market does what it can to confuse the most number of people at the same time. That’s why, like Fly says, you have to have a thesis that you believe. Hopefully it was guided by objective research and not what someone on TV says.
This allows you to ignore the day-to-day gyrations and positions you to bank hard if you are right.
If the market has bottomed, why do the CUBES languish, children?
Surely even the least experienced of you know that “tech leads?”
_______________________
More Skiffles, children! More Skiffles for protection!
GLD, SLV
GG, RGLD, AUY
SLW
Six juicy pomegranates, children!
short yhoo to 15
Well VMW only dropped 22% after hours… Rally tomorrow? That shit is bananas.
wow, tanking hard
Wow…I thought the INTC & AAPL sell-offs were outrageous. But VMW is just fucking nuts.
Update: AXP is also dropping…
Danny, my thesis since July has been that we’re heading into a recession, the consumer will finally go down for the count and this is only the beginning of the real estate decline. all this should lead to more than the avg 28% peak to trough decline in the index during a recession. for the first time in a long time, both real estate and the stock market are getting crushed.
i was dumbfounded when the dow took out its prior record in october. i was so convinced about the recession that i started building my short position at 13,000 in aug, shorting more all the way up to 14,000. unfortunately i got out at the end of the year and missed the first couple wks of 08 so my new basis is ~12k on the dow. solid advice about ignoring the s-t gyrations, as hard as it is to do so.
I see this as a result of program trading. As you know, a major portion of trading these days is algorithm-based program trading by the big brokerages and hedge funds. There were a lot of retail shorts out there, so the programs started the short squeeze to shake them out. You see the same thing all the time: too much bullishness is met by the market falling, and too much bearishness is countered by inexplicable rising of the market. Our interpretations (‘Its rising because of rate cut expectations’) are just plausible attempts to explain these counterintuitive moves. Its simply the big boys calculating and making the moves to shake out the most weak hands.
Shorticus,
Shut your fuckin’ ambrosia pie hole!
You loving son,
Bearonidus The Conquerer
EMC will take one for the team as well.
zran anyone?
VMW action is not spilling over to CTXS (so far). Interesting.
zran, vmw, all homohammers
I need to upgrade my time machine. It’s telling me Dow 14,000, sizzle chest.
ISRG is a homohammer short tomorrow.
RE: VMW
What do you expect from a stock with a 166 PE.
I have a fast growing business that netted me $85,000 last year. Would you buy it from me for $ 30 million ? Add in a few zeros and thats exactly what you have with VMW. Anyone who paid over $80 for VMW is an ASSHAT.
Although I am short right now, I actually kind of hope for another weak-volume rally tomorrow – we could be setting up a huge “sell the news” opportunity? I think this is looking like a very good possibility.
CAP
CTXS a much better buy than VMW. Bottom might be in on the stock, but looking for better confirmation before buying it.
The Fly is GOD
GHM during the day is another stock that sold off hard on good earnings, due to the failure to promise that GHM employees would be shitting .999 pure gold the next quarter and year.
Alpha,
Correct . MSFT is trying to eat VMWs lunch in the arena of virtualization. If MSFT fails they may end up buying CTXS at a considerable premium. CTXS is therefore a really good buy and trades at a huge discount to VMW. Short VMW long CTXS might be a good play going forward.
Bearonidus, what ho?
Has that trickster Bacchus hidden your anal pacifier again?
CAP —
Or “short both, with both hands,” as an alternative strategy.
Okay, I may need a geiger counter reading here, but I’m over at DT’s blog right now and getting “dangerously, perhaps fatal” readings of “gayness.”
Apparently, “Liberace” was not sufficient. DT, with his new “Obama ’08” ad/header is shooting for a brand spanking new avatar:
“Oprah!”
Wow look at VMW just rocking in AH! Holly fuck face! Look at EMC too. But let me guess the Q’s will be up 1% or so. Craziness! Who has the steel to throw up a bid on either name?
If you struggle through anything with regard to the market these next few days, children, you should struggle through this important work of scripture:
SPX Secular Bears.
DT should Obama get elected you can pay my extra taxes, deal? What’s 11% between friends?
The FLY:
I really want to save you. I tried to save you from MVIS and now I try to save you from meaningless day trading. Two words: PAL and SWC. Nothing else is needed. The prices of PGM metals are exploding upwards now!
Community sentiment on the front page of Yahoo Finance shows people Bearish DECK.
Vermont; my kind of state !
LOL !
Brattleboro…. the place formerly distinguished for allowing underage undergrad fucktards from Massachusetts to drink “over the border.”
M.A.D.D. officially voted to disincorporate the town when I was in college in Western Mass.
“Despite ridiculously bad economic news, market participants are painting the pig with gold—snapping up asshat stocks like (KBH: 25.77 8.96%), (PHM: 13.80 5.34%), (BAC: 41.15 4.23%) and (WM: 16.95 5.15%) in size.â€
LOL, That’s what they said about housing before it crashed… sure there will be temporary rallies, and volatility is a sign of a potential bottom, but when stocks go up in the face of bad news, it’s not a good thing in the long run… remember the dotcom?
It’s a freakin bull trap you tools, we’re still in freefall for months, it’ll be months before the propper bases set up!
But if you want to bottom fish go ahead, I hope you have a system to catch the bottom, or hedge shit…
The dollar ain’t worth the ring inside a crackerjack box. Look at Dow, nasdaq, and S P compared to gold or oil… it’s BEEN in a reccession since 2005, but most people can’t see that because they look at the dollar compared to the stock…
If you have $100 in print, and $50 buys you 10 unit of gold, and the amount of gold available stays the same and the demand in gold remains about the same, and then you print $100 more dollars, how many dollars can you get for your 10 units of gold… $100! You printed twice as much money, so the gold is worth twice as much… But how much gold can you get for $50.. 5 units… HALF as much. With this valuation if you can’t buy shit worth of gold with your $50, and you can’t buy a shit worth of stock because the prices are up, your dollar ain’t worth shit!
Does it matter if your $10 turns into $20, if there’s twice as much in print…
from George Washington to Clinton, $1 trillion was spent… Bush administration and congress alone spends 1 trillion in 4.5 years, how’s that for being “conservative” (cough… Bush is a LIBERAL who likes war!)
Now the govt is in debt 50 trillion dollars if you count the unpaid promises of social security.
The people saving money have gotten raped, the housing industry has gotten raped, the american workers are up as jobs will be cut, and downsizing occurs, and the stock investors are on deck!!
WHOOOOOOOOOO!
Recession!! Billionaire cofounder of quantum fund Jim Rogers called it in ’06!
And up next for president, Hillary tax the shit out of us AND spend, carrying out the Bush Agenda to perfection better than Bush himself! We’re FUCKED!
oh yeah, and I forgot, they don’t even put rings in the crackerjack boxes anymore so they can cut spending.. dollar ain’t shit, overseas where the jobs be at!
Learn chinese!
Nee How bitches!!!
And I hate bears too, but with the dumbass removal of the uptick rule, and the dumbass spending, living rich while in self hatred is better than being a broke POS who jumps out of a window cuz his dream of putting all his money and then some on “red” didn’t pan out.
If you go long try some LEAPS for Put options!!!!
And if you think history F’s the bears, ask the people about the shit that went down in 29… shit’s real. Optimism gets equally raped, it just hits you a lot harder and a lot faster. Takes years to build wealth, and one day for it to all get raped away…
FUCK this, I quit this capital gain shit, it’s time to get some passive income.
All these jobs going byebye=a lot of fucking people looking for ways to make money…
It’s time to join an MLM CULT BITCHES!!
Learn to trade options, get passive income, or to get the hell out and speak chinese!
Shit’s goin down!
-FUCKERS!