Yet again, the market gets bailed out by some sort of crazy Government plan. If you notice, the only time the market rallies is when the Government is intervening. Fucking socialists.
Coming into today’s trade, my cash position was too big. So, as a result, I put a small percentage of it to work. Now, I never try to time bottoms or tops. It is very likely I will be under water on much of the shit I buy or sell today. However, that’s why it’s important to buy in increments.
I expect the bulls will try to bring the market up, by the short hairs if need be. My perspective is vastly different from theirs.
I’m not looking to get cute. I will not buy a few bad stocks, in order to take advantage of a short lived rally. Since my bias is to the downside, where I deem all the risk remains, it’s nonsensical to go long. If I did that and lost a boatload of bullshit dollars, I would not be able to swallow it. It would eat away at me forever.
As you know, “The Fly” lives and dies by his convictions.
Ahead of next week’s rate cuts and brokerage earnings, anticipate a lot of volatility.
NOTE: With [[SRS]] reversing from $120 this morning, down to $111, I like my chances of a short term rebound here.
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I legged into some SMN a few days ago, waiting to add more
It would not be “cute” or even antithetical for you to purchase some shiny heavy metals here.
And I don’t mean HOG.
The fake money has to go somewhere after all.
Oh good, Barney Frank here to pander, i mean save the poor homeowner.
If you bought a house or maxxed out a HELOC on all that “wealth” from it anywhere from 2002-2007, you’re fucked. Depending on where you live you could be underwater for a decade or more if you choose to get all sentimental and try to fight for your house. I say go for it!
All these “plans” are trying to trick people into paying principal and interest on something that could lose 1/2 of it’s “value” and not doing the smartest thing, walking away.
Well I guess Oil is going to 200. Its all but baked in now. Fuck that I say, I am buying DCR here.
Gapp-
I don’t know about DCR here, considering the dollar is getting whacked every single day.
I really want to buy a shitload of +3 month USO puts. This can’t keep going straight up much longer. That Euro/Oil chart on Fast Money last night was tight.
http://www.reuters.com/article/newsOne/idUSL0854496320080310
Fly,
Is the recession over this time, the men with the suits keep saying it is but it starting to look like their time machines don’t work right.
CubsRock,
“This can’t keep going straight up much longer.”
Funniest quote I’ve heard all day.
agreed, Cubs didn’t see Monday I guess.
The FLY:
Can you continue to be so stubburn? Look it up. Buy some PAL and SWC. If you buy these two you will stop being a loser. Without these two in your portfolio you continue to suck and continue to lose money.
How is your MVIS doing nowadays? I wasted 5 hours of my precious time doing research on MVIS and came back to tell you why I was not impressed at all, remember? You were just so stubburn!
I spent 5 hours on your recommendation. Would you be willing to spend even just 5 minutes on MINE recommendation?
http://seekingalpha.com/article/63529-investing-in-a-resource-constrained-world-part-ii
The real news today is that foreclosures are up 60% year on year. Everyone knows about Davey Rosenstein collapse. However the one that is really fucked up is the lame hellhound announcing that Chrysler is shutting down for two weeks this summer. That means that there is so much inventory that they could shut down for two or ten months to work it off. Ask GM. The ratturd fuckholes running at the bears are sparking a squeeze. If you sold short on margin, yes you are fucked. However I have beseeched cereally here to cut that crap out. They are going to catch you time and time again. Of course it’s not so easy to fuck the fx traders, who shit on these top-tickers out of tree canopies. The oil boys at the Nymex as well as the LME gold fellers are doing a pretty good job of it as well. It’s a huge fuck you to the bearded cumgoon and his stock stooges. Join the fuck you chorus.
Alias:BPOE
This is the time like the FLY to position yourself like a sniper. It is so boaring I dusted off my Bowflex Machine. I might even use it if this bullshit contest doesn’t stop.
JJ:
Go to school. “Would you be willing to spend even just 5 minutes on MINE recommendation?”
way to emphasize your mistake, douchebag
UNFUCKINGBELIEVABLE
Better to not be “cute” than trying to be “fancy” at this time.
In frustrating times like these, it is a blessing to have a punching bag like JJ appear every now and then.
With all the gov’ment cheese being thrown at the markets, the “sideways” market thesis could still be in play. However, they can’t repeal the business cycle, and they CAN’T stop the recession that is already here.
I want my “folds” back, JJ!
Should have listened to my post last night. Instead you look like you got SMN all over your face.
BRING BACK THE ROGUE TRADER
every fuking time the mkt is driven lower someone bails the bulls out. when will the mkt stop reacting to the PPT and since when do rating agencies carry any credibility?
FUCK FUCK FUCKING MOTHERFUCKER FUCK YOU.
Sorry, had to get that off my chest. I was about to punch one of my monitors
but seriously, FUCK!!!!!!!!!!
Why the Fuck is everyone so pissed off ? This morning was a great opportunity to cover your shorts and go long. Seriously the 200 point drop was a gift. If you call yourself a trader and can’t make money in this market you should go get a job at McDonalds or Burger King.
i agree with lurker, 100%
i agree with lurker, 100%
WHAT IN THE FUCK??
at this point, the market would rally 2000 points if the golden gate bridge was attacked by terrorists.
Fuck you CAP.
I hope that you get viciously sodomized by a pack of enraged bulls while visiting Pamplona