There’s no plausible scenario where the market can rally today. Looking at key stocks in important sectors, there is too much red for a recovery to magically occur. Stocks are getting kicked in the scrotum, as the “must retest the lows” camp takes control.
The biggest negative, once again, are the financials—with typical losses in [[ABI]], [[MBI]], [[C]], [[LEH]] and [[SOV]].
In addition, Ag stocks are breaking lower, alongside basic materials. Frankly, I’m shocked to see a certain someone break his promise of Lent, in order to buy [[BOOM]]. That fucker, mark my words, is breaking lower.
Other stocks with notable breakdowns include: [[AAPL]], [[INTC]], [[ORCL]], [[GILD]], [[DECK]], [[EDU]], [[APOL]], [[CRM]], [[INTU]], [[CTXS]], [[PMI]], [[GHL]], [[CALM]], [[UA]], [[BID]], [[CTRN]], [[SIGM]], [[AMD]], [[TSCM]] (boo-ya), [[RATE]], [[GM]], [[JPM]], [[AXP]] and [[VMW]].
In the bull camp, very few stocks stand out. Actually, the ones that are up are worth fading—which includes [[AMZN]], [[LULU]], [[NVDA]], [[GRMN]] and [[ESRX]].
Quite honestly, I’m making buckets of coin in my reverse etf’s, while giving up a few pennies in long term positions. During the remainder of the day, “The Fly” will drink multiple cans of Monster Energy Soda, while throwing jumping jacks out of his office window, mainly for fun.
Oh, and I may buy more [[SRS]].
If you enjoy the content at iBankCoin, please follow us on Twitter
Fly,
how much more til the bottom or we are already here?
When will you stop eating bear food and come out the bear cave? 2 months, 3 months, 4 months???????
thanks.
KD:
There is no bottom.
So sorry.
Alias BPOE:
I will now proceed to BITCH SLAP the SP500
below 1320. Only the Fly can bitch slap Mother market!!!
I would cover if I were you. Word is a big institution and hedge are going to cover on the triagle break and run up with buys on the back of it.
No reasonable explanation other than technicals.
If the S&P holds 1333-1337 for the close there may be an attempt to PPT the market higher next week.
Dear Warning,
Funny, isn’t that what the Central Bankers have been trying to do now for 2 months?
You would think that if all the money in the U.S., added with some ECB funds can’t prop up this market, that you, Mr. Warning, would have figured out that it can’t be done by a “big institution and hedge.”
Grab some QLD while your waiting for SRS to come back to $109 😛
It is interesting that SRS is down with the down market and skf doing so well. I think we break out of the triange lower in next week and I want to be ready.
I am very tempted to dip into put calls in rimm and apple. They are good companies but bad times ahead.
Woodshedder,
Fair enough. Good luck.
New post:
http://www.ibankcoin.com/peanut_gallery/index.php/2008/02/07/giving-up-trading-for-lent/
Boom:
You’re mentally ill. You have zero staying power.
If I was within 10 yards of you, I’d have my dog bite your arms off.
Thank you sir, may I have another.
Nice post BOOMER.
“Where sin abounds grace does much more abound.”
Lulu, good luck fading that one – I was lucky to be able to borrow four shares this morning. If it’s up today, that is only because it’s down 20% the last two. I still can’t remmenber who alerted me here to the dude doing the cancan in the tree, but I had to short at that point. My gratitude to the alerter.
btw Boom.. you still can go to the local titty bar, have three plates of nachos, not tip the waitress while she serves on you hand and foot, then you can be pissed off because service is slow, throw your beer at the dude next to you and soak his Pattek Phillipe, and walk out without saying thank you. That would cover you on lust, gluttony, sloth, wrath, envy and pride. You got greed done already with the buy today.
Hey Fly,
Are your a girl!?
short bsc now, they are going red and they have to catch up to the other brokeass cowboy bankers
I warned you all an hour and a half ago. Sorry shorts.
Hmm. Market is near the lows of the day.
That was some warning, fuckface.
Hey Fry!
How was Loxbully rast night?
You do dah head-bob ting?
Mennnnyy, mennnny, lairies!
Nothing gets past you. Good luck.
I have funny site fo you, white devirs…
Top Ten Lap Songs White Devirs Rike Most!
We’re setting up for a late day rally.
thanks calvino. i got the others covered this am.
i love stripper nachos for breakfast
Why? Because the yen stopped trading in NY?
It’s trading somewhere fellahs.
It’s the Charlie “the Insane Pitbull” Gasparino rally.
my opinion maybe sounds weird, but why do you all write so serious comments? I mean, do you REALLY think it’s true? Why? What makes you think so? Please share your opinion.