You fucking lemmings are hoping for a rally, while the banks get “homo-hammered.” Sure, keep betting on tech, see where it gets you.
However, its been 2 weeks since our last 400 point spike. Perhaps the Government will give us a nice bailout package for tomorrow’s trade?
Nonetheless, “The Fly” had a stellar day, with large gains in his short positions, especially [[FED]], [[DSL]] and [[WM]]. In addition, my double inverse ETF’s did well. My favorites include [[FXP]], [[SRS]] and [[SKF]].
Those fucking bastards from [[POT]] and [[MON]] will not trade lower, effectively deballing my [[SMN]] position.
My strategy is to just wait it out. Time is on my side.
Finally, I want to take issue with the asshats who say “the worst is behind us.”
Says who?
Last time I checked, banks are doing dilutive deals 30% below current market valuations. In my opinion, as a whole, bank stocks are 30% overvalued. Should they trade down to their true value, SKF will print $160.
When trying to pick a bottom, keep in mind, the “commercial loan shoes” have yet to fall. Literally, there can be 2 trillion dollars in future write-downs, effectively rendering all banks worthless.
Odd, no?
UPDATE: [[CROX]] longs are preparing for a unprecedented “Baseball Bat to the Balls” treatment, when the stock reopens for trade. Another nice call from the retards at Fast Money.
If you enjoy the content at iBankCoin, please follow us on Twitter
….and, surprisingly, here is what i think most people are overlooking
not only are all the banks diluted to FUCK and back, the only way they printed $$ was being geeked up 30 to 1.
i.e., dont think that just because MER was at $90 a year ago, that its gonna go screaming back to that neighborhood any time soon.
no bailout trade till wednesday although the anxious may try & jump the gun sometime tomorrow
when the world shows up in an el camino waving a flag that has ‘we’re all buying energy and ag stocks’ printed on it, why would anyone waste their time with a bunch of shitty banks? i just don’t get it.
We’re in the 3rd inning of the “Unwind”!!
Strap the Fuck in and Buckle-up<<<<<!!
Think “T’s” as opposed to “B’s”.
Multiplier Effect.
Fly:
Shouldn’t the banks be more like 60% overvalued if only 350 billion has been written down and we are expecting a 1 Trillion dollar loss?
Been riding DSL and FED down too.
Birthday Girl
S&P was down .35% today and China was down over 3%, yet FXP had a whooping gain of $2.
SKF @ $160, wow! Just need the big money to get short I guess.
CROX warns, DECK as good a time as any to reload shorts? Death to fucking ugly shoes.
Banks are printing money… for the short sellers.
Love it…
Fly what’s your thoughts on oil right now?
How much higher can oil go with more discoveries, in convienent places like North Dakota?
http://minx.cc/?post=259960
I’m really starting to get a yern to short USO, or to buy DUG, and to hedge a “hyperinflation/doomsday scenario” with more DGP.
Wouldn’t suprize me if we got the go ahead to drill offshore of Florida (the chinese already are, yet nature lovers say “no there might be leakage), and perhaps in Kansas and Colorado… maybe even Alaska but I wouldn’t count on it.
I would think that it’s going to happen before the election if it does. With the economy in the shape it is, democrats will leave themselves open to potentially get crushed on the issue of the economy if they don’t let us drill in the US, while simultaniously complaining about war profiteering through oil companies. People care more about their pocketbooks than the war now, and it’ll get worse as November approaches.
Repubs will work overtime to get it done.
I would think such an act could take oil down quite a bit, while sending Royal Dutch Shell (RDS/A, RDS/B), and speculative names like JWHK and BRNC higher.
On the other hand you do have potentially the whole “peak oil” thing going on.
Either way, with the prices this high, there’s going to be entreprenuers jumping in, and I would think that there’d be more suppliers and competition, that would send DUG higher anyways even if oil remains flat around 112.
What do you think, do my theories have any merit?
I’m going to do some work and find a few american drillers in places like colorado, kansas, north dakota,etc
I might consider a pair trade like BRNC and long DUG.
The reason is simple. The drop on friday was already priced in fxp on friday (look at the intraday day for fxp on friday). The FXP/FXI are influenced by the market, and if the investors want can reverse the direction of what is expected. The only time the prices will correlate when in the opening bell the prices will come to the real value of the stock.
If you believe and invest in FXI to inflate against the drop in chinese 25, you will fail, unless that is there are low amounts of volume in the day and you have billions of cash flow to deflect the prices (aka manipulate), but then again you have to watch for the specialist who will sell you the FXI at the high price that your willing to spend to inflate/manipulate it.
If i am wrong in my thinking, please comment
How could anyone be long CROX? Just dumb. Good lord, look at this “wealth transfer r us” chart:
http://finance.yahoo.com/q/bc?s=CROX&t=6m
and, unrelated, food riots:
http://www.cnn.com/2008/WORLD/americas/04/14/world.food.crisis/index.html#cnnSTCText
Did you just call K-Fin a fucktard?! Took the words out of my mouth -kudos to the value girl. I wish Macke would just leave, then there would be no reason to watch it and I could get Bllomberg.
Boomer- Actually, the two stories are related. I noticed that the rioters in Bangladesh were wearing Crox shoes. Now we know where the excess unsold inventory went. I would just be careful and not let those Crox get too close to the fire as they could melt.
Interesting that they were rioting in Haiti over high food prices but not high gas prices. But, then again most of the population in Haiti doesn’t have cars.
I got burnt on a few hundred shares of Croc. Shoes are gay and chart is broken now.
CROX from $75 to $13 in 5 months, damn.
CLOX??
CLOX??
I would laddah dlink CROLOX den buy dah CLOX!
Har! Har! Har! Har! Haaaar!!
Anyone short CLaMS or Cubes today?
I’ll be looking for an entry in CROX now. Usually after the 3rd gap down, a stock finds some sort of bottom. It could take a few months but I’d keep an eye on it if you’re into bottom fishing former high fliers.
I was looking for a chart for DSL today but thumbed the buttons and came up with a chart for DLS by accident.
Guess what DLS is the ticker for?
Juice how drunk would you have to be to buy CROX.
Seriously who is their market:
Toddlers
Medical Assistants
Mental Patients
Amazing how DECK still trades way up here. It might be worth re-visting for a short no?
hahaha fucking CROX. just another HLYS, and that’s how it’s going to trade for the rest of its miserable life.
DECK at least has products that people are buying because of the label. celebrity trash like lindsey lohan is still photographed in uggs regularly, so they’ll probably continue to make money over at DECK.
Just a note on IBM, if your going to buy it or short it just know this. My company and many others that I have been talking to are cutting way back on buying new servers. Basically they are upgrading their current servers with more RAM or drives but not replacing or adding many new servers. Of course this could hit Dell or IBM or Sun or HP but I know someone or possibly all will be hit by the capex cut backs.
Hey, I have a pair of Green Bay Packers CROX, so stfu.
I have a pair of Uggs. Anybody have a problem with that?
Just a thought for two struggling products. CROX should merge with HLYS and then put wheels on the Crox shoes. They could call them Hox shoes or for the Long Island or Miami Beach crowd Lox shoes.
CROX has a lot more lasting power than HLYS. Any time my son wears Crocs to the park, I save the 3-4 minutes it takes to get most of the sand (92.4% is the theoretical maximum sand removal, 3-4 minutes gets me to 80% removal) out of his other shoes.
Every parent I’ve ever seen has, while accompanying a heely-wearing child, looked like they were sorry they bought the damn things.
KCBILL … like I said, after the 3rd gap down, I start looking for bottoming action. Its a rule I have followed over the years that has served me well. I don’t care that their shoes are ugly or plastic or whatever. Its about making money.
No rush. This train is not leaving the station any time soon.
As far as my 3 gap down rule; take a look at 2 stocks that Fly people are familiar with – NTRI & BWLD
They both found lows not long after that 3rd gap down. NTRI sits 70% off its low & BWLD sits 30% off its low after rallying as much as 55% off its low.
I’ll bet you CROX has a similar bounce off a low thats made within 2 weeks to 2 months.
ottnott –
crocs – aka “flip-flop” technology.
heelys – neurologist/trauma surgeon sales pipeline
4 AH winners:
[[AFFX]] [[CROX]] [[NVTL]] [[STLY]]
DECK is a good short chart-wise – has rallied up to the 50 and 200 day moving averages on very weak volume after the huge, earnings-related down day on huge volume. Volume has gotten progressively weaker the higher it has rallied. If it breaks below $110 on higher volume, it would probably be s nice entry point.
Mac — it’s already below $110 in AH.
I’m gonna DECK it tomally.
LOL, I just noticed the Fly calling bulls “lemmings,” up top.
Gotta love the fauna choices, you’re either a dirty leech, or farking lemming.
This is a good site for the mortgage mess, as well.
Fuck u Brett Favre.
Juice thanks for clarification… I guess the magic question is– when would it be done falling.
Or get hit by a giraffe driving an ice cream truck. The Fly is king of the name callers that fuckface.
Shit is starting to really get bad. Every headline I see now is looking nasty as hell. May be time to buy like crazy, water and camping survival supplies that is. I am 90% short now. Fuck it. Its just too fucking nasty to be long. I ripped fucking 3 bandaids today and have no regrets. My only longs are TSO, GOOG and GS at this point.
Pretty funny story about a Red Sox fan who as a construction worker on the new Yankee Stadium buried an Ortiz uniform in the concrete so as to put a hex on the Yanks in the new stadium.
http://www.citynews.ca/news/news_21670.aspx
For weeks, I have been depressed by the lackluster “bear market”. News of HELOC’s and continued consumer spending has caused me much trauma. My world was spinning out of control.
But now, I see CROX getting the “Atom-Bomb-Espresso-Enema” to the tune of -30%, and suddenly, the world has turned right-side up again!
Nevermore will I underestimate the power of old men selling fewer and fewer amounts of plastic shoes to make everything all better.
anyone ever watched this? i’m 30 mins into it.
http://video.google.com/videoplay?docid=-515319560256183936&q=money masters&total=2484&start=0&num=10&so=0&type=search&plindex=0
facistinating
Thanks for that site Jake, I already am enjoying it.