Just when I was getting bored of being a bear, the cup fuckers who operate this place (the market) had to go run up the DOW 200 points—for no good reason. While it’s true, the Buffett deal will protect the secondary muni market; it does nothing for mortgages—which is the real problem.
If anything, the proposed Buffett deal will make certain the insolvency of both [[MBI]] and [[ABK]] comes to fruition.
Let’s make this perfectly clear:
No one gives a fuck about the dead beat mortgage guy. The big fuss is due to the muni market. Once that is off the sheets of the monolines, the rating agencies will rip the heads off of the monoline bulls, take their heads—and slam dunk them while exclaiming “BOOMCHAKALAKA.”
The market was due for a rally. In hindsight, the writing was all over the filthy walls, with tech showing its hand early. However, we’ve already run up a good 250 points, in two days. As a result, I will suspend my urge to go long and wait for a short set up.
I’m a bit tentative because the market usually rallies from mid February until mid March, even in bear markets. However, my thinking, the market already had a 1,000 point rally from the lows. Therefore, there is a good chance the mid-late February run may be today, if you get my drift.
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Classic Reversal, Part IV?
This isn’t a seasonal runup. It is the economic recovery from the January 2008 recession.
The market will soon price in the next early-2008 recession.
At least CMO is doing orgasmic.
Fly, you still trading for Summer 08? The market is trading at Spring 09. Gas is at $4/gal. A loaf of bread costs more than a Sprint Centrio. AAPL has gone back underground. Banks are stable again, however real estate is still bad because they all want 20% down. Dubai GNP just passed 5 African countries, and Ford just came out with a Chinese branded car.
BTW, where’s the short-BWLD party?
The market is only now starting to understand what happened in 2007, but refuses to believe that it is true.
.
“Just when I was getting bored of being a bear”
Never heard the addage “Never short a dull market” Chief?
Fly, yr DECK long is +3.8% at 118.99; btw, what do you think the retailers are gong to report tomorrow, gots any insider info?
I will reup my DECK short at 130.
In other words…what the fly is trying to say is the market might go up…it also might go down. Be sure to check back with the fly often for more nuggets of helpful market insight.
Fuck you “NoFlyZone”
NoFly,
Would you give us a link to your blog, so we can see how to bank coin in this market? You know, how you’ve been doing it.
we’ll come off these levels but the rally is not done, yet
the pundits are saying this rally going to (not today) 12800 dow, 1425-50 SP and then may roll over to test the lows or, they may not what with the Fed in play, maybe better news from housing soon, the bond insurers, etc. – developing I guess
Could you please forget about election year, mid February, and all non sense seasonalities, Earnings are not looking good, guidance is lower everywhere, wait for the next shoe to drop very soon, wait for one more leg down and then start buying….
Buffet news are meaningless, he is just taking the opportunity, getting the good business for him and leaving the crap to others, bond insurance are going down it is just a matter of time, downgrades are coming, are we clear?
Well guys, I didn’t expect to see anything like that here. It’s amazing. So many shocking news on one website. I’m not sure I can agree with everything , but I’m totally astonished by this words. To be honest, I have never heard this kind of information online. It’s really something very special.