iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,316 Blog Posts

Chicoms Shitting the Shower

Is this a key tell or more Chinese fuckery?

Go down the list of stupid Chinese stocks, from [[LFC]] to [[CHL]] to [[CTRP]] to [[PTR]] to [[ZNH]], they’re all receiving the “Stalin Shiv” to the neck treatment.

Keep in mind, previous market tops started with the collapse of the chicoms.

At any rate, just to be cautious, I am paring down many long positions here, while adding to [[FXP]].

I could be wrong. But, either way, it doesn’t hurt to book some gains and wait to see if this dip is buyable or a fucking suitcase nuke in your oven.

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19 comments

  1. jeff

    The dollar is artificially strong. Prepare for continued destruction.

    http://youtube.com/watch?v=ei0lKQRADVg

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  2. King Dollar

    You call 1.53 euros ‘artificially strong’? What was it at 0.80 euros in the summer of 2000?

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  3. Nostradamus

    This is NOT the end of the Not-a-recession bear interlude rally. Look for more grilled bear meat mañana and Friday.

    Then go short, in size, young men.

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  4. jeff

    By the theory of relativity, you are correct; however, we here work in the scalar realm, where we know where this shit paper is headed.

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  5. kurt

    Can’t one of you guys just go through the tape for the past couple of days (past two to be exact) on DIA and see where the “size” has been setting up. I mean this is an obvious consolidation period before another move. The tape will tell it before any of these technical indicators would. Maybe I’ll just do it myself but I would think the people that do this shit for a living would have already done it. Fly don’t you have some kind of slave/servant that can do this??

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  6. The Fly

    Kurt:

    There have been no tells, until today’s China massacre.

    All in all, the market action is very bullish. Any bear bets are most likely early.

    I’d rather be early than sorry.

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  7. Dennis Hopper

    Any failure from this level will be a fast move.

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  8. The Game is Rigged
    The Game is Rigged

    1405 spx fails and all you bulls can join the shower shitting party. Very tiny door for everyone to cram through before memorial day.

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  9. punyandy

    Anyone playing the CROX lotto? I picked up some retarded calls, and I expect to get kerploomied like I did with GOOG puts last month. In other words, short CROX to 0.

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  10. InternationalGroupie

    (aka CrazyPatel)

    Although this so called “profit taking” reaction of shanghai by the media, it may have to do with the good ol “fear”, in this case the incurable virus that has struck china. I am not too sure if this profit taking will last, but i do know that decoupling is fraud, im a pro-recoupling when dealing with china and US economy. You make your calls because i still find it too risky to jump in now, maybe on thursday for another dip on friday.

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  11. gappingandyapping
    gappingandyapping

    Are you watching SPX 1405? Thats the key level, acknowledge it bitch.

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  12. Employee8

    Game ….

    From EW Lives On: For the past several weeks the SPX has held the rising 55 hma as support, now at 1401, as it has worked its ways past two important OEW pivots: 1383 and 1410. The next pivot at 1438 should be a level of significant resistance. Not only did it provide interim support in September, November and December of last year. But this pivot is a long term pivot which goes back to the year 2000. Just as the long term pivot at 1383 offered significant resistance in February. Expecting SPX 1438 to offer significant resistance in May.

    I would expect 1383 to be the support line offering time to sell longs and get short.

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  13. sniper6

    I’m guessing CROX will be in the shitter by the closing bell- immediate 15 – 20% drop

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  14. sniper6

    Relative to the Chinese, I do not consider them trustworthy. Their biggest accomplishment throughout history is the “Great Wall”.

    I say this: if that wall is so fucking “Great”, how did so many of those little bastards manage to escape? I think we are looking at an culture of shoddy workmanship that dates back centuries. It would probably be covered in lead paint too, if they had lead paint back then.

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  15. gappingandyapping
    gappingandyapping

    Fly not buying more FXP?

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  16. Chairman Mao

    Gaaaaaahhh! NOT dah “Starin Shiv to da Neck!!”

    I arways feaah dat! Fo yeahs — even aftah daht moostachioed cocksuckah dead!

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  17. PleaseKillMe

    sniper your words are futile. America is now a colony to motherland China. We feed her food, metals, oil, and for the past 10 years…money.

    We have never seen the motherland besides what is shown in the papers. When the Olympics are telivised this summer we will be awed by the skyline stretching for miles, the congested 10-lane freeways, by the longest bridge in the world, by the most advanced airport in the world, by the Chinese driving around in Land Cruises while we box around in Honda Civics. Where are all the rickshaws and water buffalos we ask?

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  18. Pudfucker

    Who wants to bet that Goldman is short equities and long crude?

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  19. sniper6

    PleaseKillMe-

    I suppose you are right. Lost our chance to throw in with Ze Fazzaland back in WWII the Big One, now eating China’s shit with extra MSG, mmmmmm good. But I like firecrackers, so, pass the duck sauce. And 200 CPSL @ $3.80

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