Here we go again. [[FXP]] is officially being deballed this morning, thanks to the heavens bestowing great equity surges in [[LFC]] and [[CHL]], amongst other Chinese related names. This is truly a hex on “The Fly,” as he meanders around—shifting from one land mine to the next.
Sure, [[ABK]] and [[MBI]] are done, but who really cares? The mortgage insurers are old hat. Ag plays are retracing, particularly [[MOS]], [[POT]] and [[MON]], but I’m sure it is a temporary phenomenon.
In short, I have no choice, but to swallow my courage pills and buy more (slowly) of that God forsaken double inverse ETF from hades.
It is now near its 52 week low.
In other news, all airlines are going to be bankrupted in 2008.
More good reasons to buy stocks.
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I went to work buying the ag names around 10:00. Man, there’s a shitload of stock for sale, I’m doing my best.
I should have the sellers cleaned up in another hour or so. Be patient.
fm minyanville – on crude earl
Given the active discussion about crude oil’s bubblicious tendencies, I would offer this: over the last nine trading days the commodity contract (CL1) has moved just under 9%, with the bulk of the moves coming late in the day (let’s call it between 2:00 and 4:00 pm EST). From a trading standpoint, should we see a hard selloff in those time periods, I will treat it as a pretty decent signal that this blow-off move may have run its course.
Juice:
Quit pussy footing around and rub it in. You know you want to.
Oh no! Fluck me!!!
http://www.news.com.au/business/story/0,23636,23586655-31037,00.html
If China only has 12 days worth of coal left, that means it’s time to buy Chinese stocks.
Fly – It ain’t my bag to rub anything in. I still don’t think FXP is a good trade, even here. Maybe it bounces from here, but why bother. I’d rather see you do well, than lose.
Have one of your voodoo chart people look at HSI & SSEC.
update .. sold 1/3 of my FXI 157
If crude tops out, the first thing anyone is gonna want is Uggly shoes & COH bags.
Who cares that summer is coming up or that theres a food grab going on.
Mine more coal.
It’s a super two-fer……
More mining=mining deaths=fewer mouths to feed=reduce rice shortage=
We win!
GE “planned cost cuts will be increased this year to $3 billion from $2 billion.”
But that’s good news for the economy, because that extra $1B of ex-employees will all have much more time to shop for shoes, travel, and do home improvement projects.
So it looks like we are celebrating todays losses with another rally, with financials leading the way. Thank god for that kitchen sink.
I come back to this board upon the orders of my master, and with the greatest of shames and abject pleas for forgiveness. I am to do magnificent penance for my terrible pog-wasting recommendation of the SLW shares, may Allah curse their peripatetic ways!
On my kirpan, I have sworn to lash myself no fewer than 400 times with my cat-o-nine-tails, and then make my bed and repast in the master’s hog pen for the next seven days.
Only if you were a gambling fool would you endeavor to purchase more here at $15, and I would never raise my eyes to such stalwart gentlemen as yourselves with such an accusation.
Dennis Gartman has no more gold, FWIW. Hasn’t gone short yet, however.
http://www.thegartmanletter.com/
Melissa Francis STOLE MY IDEA about buying rice on COSTCO and selling it later for a huge profit. BITCH!
Thank god, I’m single…my living room is about filled with bags of rice…Ebay anyone?
Does anybody know a way to get free copies of the Gartman Letter? Shit is expensive…$400 bucks a month…which could be spent on rough rice instead.
You’ll get my gold when you pry it from my cold, dead hands, ya goddamn dirty ape!
(whisper, whisper)
What’s that? I’m what?
(whisper, whisper)
Oh…
Sorry.
Yeah, I’m wondering what the link was for?
You gettin’ a commish, Dawg?
dump your lice, and buy some eggs for some yummy Egg Foo Yung, and gimme some “fry’d” noodles to go. [CALM]
golly POT looks like a “coiled spring” way down here at $208; especially as it only does down on one day in five. I guess I’d have to say “nice dip” about now…
update: woops
Fuck rice. The post office sells something called “Forever” stamps. You pay today’s postage rate and the post office honors them, well, forever.
Postage rates go up a penny next month. I bought $1 million worth of stamps. That’s 24,390 stamps. After I hustle them off to my family and friends, I’ll make $243.
Fucking A. Get rich or die trying.
No commish on Gartman Letter. Unfortunately for Mike, the cost of the subscripton is non-negotiable. Link was just to point you in the right direction; admittedly, cost may be prohibitive for those with “one comma” trading accounts.
I’ll see what I can do to “pass on” tidbits of info w/out upsetting the powers that be.
Btw, Mike now has enough rice to make copious amounts of Saki.
Fly here is another chance to start a KBH postion, come on, You Can Doooooo It!
Also the Cubs bandwagon is filling up quickly, you best ditch the Mets and jump on soon.
Cubs, when are you gonna win a Series?
go ahead….sell naked calls on aapl…
I fucking dare you.
I started a position in FXP, and I am looking to buy Ags/Steel in a pullback (I am hoping that when I go long, the bubble pops.)
Isn’t this just flat out hilarious that Ambac/MBI are tanking…possibly going bankrupt sometime, yet financials are still positive? Shit, if we Ambac had great numbers, financials would have been up 10% today.
I’m with you, I bought some ‘god forsaken’ SMN today around 31.40 after it pulled back and regained momentum. I think people might just be waiting on POT earnings tommorrow, so I just grabbed a little SMN for now.
After POT earnings I’ll have a better idea… Maybe I should have just bought a straddle/strangle on it.
Arb postage if you only got 24,390 stamps — you got screwed out of 500k.
I’m sure somebody at the PO likes you though…