My suspicions of a top, due to the crappiest stocks in the world rallying, came to fruition—as men with money took their coin and went on vacation.
It really was a grand day for “The Fly.” Everything worked. My blend of shit and shorts put me up 3%+ for the day.
On days like this, you must pay attention and protect recent gains.
I’ll have you know, the brokerage industry is in flux, scrambling for producing brokers, while cutting back on overhead. A very close friend of mine owns one of the largest black car livery services in NYC. He is telling me, “business has not been this bad since the early 90’s,” due to major cut backs at Goldman, Merrill and Morgan.
In short, protect your gains and get ready to take the elevator down.
NOTE: Should commodities bust here, I like [[POT]] short and [[VSE]] long.
Top pick: VSE
UPDATE: Corn is cracking here. Do you know how to play it?
I do.
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Anyone have any idea what happened at about 13:30 to start all this off. News ? Or just good old fashioned PANIC selloff.
StockTraderDaddy:
2:30 pm : The major indices take a sudden retreat. Tech stocks (-0.5%) are seeing a notable amount of selling pressure, sending the Nasdaq into negative territory for the first time since the early-going. The S&P 500 and Dow are holding onto modest gains, but are well off their best levels.
There is not a specific catalyst for the recent weakness, other than traders looking to lock in some profit after the stock market’s strong 2.7% gain last week. Four of the ten economic sectors are now in negative territory.DJ30 +56.50 NASDAQ -11.75 SP500 +2.47 NASDAQ Dec/Adv/Vol 1577/1241/1.51 bln NYSE Dec/Adv/Vol 1531/1574/701 mln
The drugs wore off.
eventually, all this cynical inverse-o-logic I’ve heard here lately will fail its espousers.
I, for one, welcome the denigration of the cynical Inverse-o-logic Espouserists.
some tech company issued a warning, i believe. i was only half-paying attention, however, and i didn’t catch the name.
SNDK warned in conference.
More reason to spit on the small investor.
The asshat dip buyers couldn’t even wait until tomorrow? they had to bid shit up in the last 10 minutes? impatient fools
BTW — you may be on to something w. regard to “The Limo Driver Tell.”
Gary Savage (of SMT) lives in Vegas and has a good friend with a similar company. He said they haven’t seen such a bad market for limo’s since the last Cally housing bust in the early nineties.
And everyone knows Vegas is just Wall Street with indoor smoking.
jake, how was vegas?
SNDK warns every time eli opens his mouth, thats why i love him.
he has got to be the most pessimistic CEO on the planet.
hope it goes to $20 again, so i can buy more.
This company is big doins in NYC. They are the biggest and is a great tell of the state of the business environment.
told ya to short DRYS…
The bearded one gave me a heads up on the stock..
Watch for a Shooting Star this Evening 😀
doji style
Danny — annoying, but all my brofises were there (it was a bachelor party), so we had a good time.
I’m not a good “tell” w. regard to that shit, though. For one, I’m married with kids, and I hate to be away from my family.
Two, except for the market and poker, I’m no fan of bullshit (ie, “house odds”) gambling. Unless I’m the house, of course.
Three, although I think smoking bans are nazi-istic and I’m against them in principle, I don’t like cigs smoke, and even with the best smoke-eaters on the market, you cannot escape that embedded cheap cig stench in the casinos.
Again, the drunken bachanal and the copious amounts of space-age constructed females mitigated much of the above.
long VSE:
One of the first times I’ve been very impressed with a call you’ve made here — maybe that’s why I read your blog.
Was that a technical call or just instincts?
No black car means no OT – the investo trolls get those when they crunch late.
Alias: BPOE
I bought back into RCH. Just a litte for some fun. If you like day trading this was hour trading. I got out when the elevator started to go down. Lucky me!!!
VSE – the corn planting this year has been for crap, as far as I saw. Take your friggin money before it goes up another two dollars on the bushel. imho
Speaking of Vegas , MGM Grand has rooms for $49 . $49 ! Is business that bad or what ? Even the Wynn has rooms at $119( normally $299). I figure these casinos must be taking it up the ass with this economic slowdown.
I’ve been going to Vegas for 10 years and have never seen room prices so low.
yeah I like poker but hate gambling, fuck house odds. Glad it was a good time, I always have some good fun in Vegas.
“Three, although I think smoking bans are nazi-istic and I’m against them in principle, I don’t like cigs smoke, and even with the best smoke-eaters on the market, you cannot escape that embedded cheap cig stench in the casinos.
Again, the drunken bachanal and the copious amounts of space-age constructed females mitigated much of the above.”
Agreed. This is America, people should be allowed to smoke a carton a week if they want. However, I hate the fucking constant alarm sounds and smell of old women smoking pall malls by the handful in the fucking casinos.
The girls, they are top notch.
I have some girl friends, who, due to their god-given resources make something insane like 500-700/week in cash tips. Serving drinks at a topless pool, promoting clubs, etc. Not bad for a 22 year old broad whose only future is golddigging.
How will you play corn cracking?
Not that I care; my master’s gone away.
I have some girl friends, who, due to their god-given resources make something insane like 500-700/week in cash tips. Serving drinks at a topless pool, promoting clubs, etc. Not bad for a 22 year old broad whose only future is golddigging.
Look at the start, why not?
Brings me to an anecdote… I was sitting out by the pool with said brofises on Sunday, and the hotel had decided it might be wise to copy Hard Rock’s “Rehab Sunday” idea, and pepper the place with cheezy eye candy. So we’re sitting there when this little girl– and I mean she weighed 85-90 pounds tops– comes by with “free passes” to her club for later.
With her standing there reciting the Gettysburg Address (or was it the Alphabet song?) we were all marvelling at her recent engineering– specifically enough silicon to fill two regulation sized NFL footballs. Yet, once she’d walked away and the spell was broken, we all came to the same conclusion:
She should’ve saved the tat and boob money for a good dentist.
_
Interesting how slow & subtle sentiment shifts combined with low volume allows institutions to sell into a fakeout breakout. Joey bag of retail got his arms blown off today.
Off to drink $300 cadillac tequila.
minus 5!
Hey Jimmy with crack and corn, ovah heah.
Doan botha me.
Yo, these stocks is volatile ovah heah!
As corn collapses, inputs at ethanol producers decline, leading to greater margins.
And, CMG and BWLD will eventually benefit.
I am walking over to the CBOT tomorrow to try to sell corn. Anyone want to go?
whoever recommended rapidshare.com is a douche
Down with MON
Down with the Vatican
Ethanol is going to get drawn and quartered. Drivers don’t like it. Eaters don’t like it. Greenies don’t like it. Deficit hawks (all 2 of them) don’t like it.
But nothing happens until after the election.
And then CMG and BWLD will really benefit.
To all feens, never doubt the power of seeds and stems. Go crush and smoke
In A Cave
Cracked corn = short DBA etf which is equal weight corn, wheat, soybeans, sugar I believe. Do your research.
Seeds and Stems—my broker doesn’t know what this means.
Jake I know you must of made some egregious sports bets in Vegas. I can see you getting down on those horsey’s that pull the little rickshaw.
My broker knows what seeds and stems means as he has all of the Cheech and Chong videos.
Anonymous: Suck a purple pickle queer, rapidshare is the shit. What don’t you like about it?
i have no quarrel with the rapidshare.
Commander Cody and his Lost Planet Airmen are friends of mine.
Panama Red
Panama Red
He’ll steal your woman
Then he’ll rob your head
Panama Red
Panama Red
On his white horse, Mescalito
He’ll come breezin’ into town
And your woman’s up in bed
With ‘ole Panama Red
VSE is just a bounce. Ethanol is doomed. Please keep buying so I can get another nice high price SHORT entry. Thanks!
Commander Cody, execute Order 66.
It really was a grand day for “The Fly.†Everything worked. My blend of shit and shorts put me up 3%+ for the day.
You took a dump in your pants? You must be very proud.
signed,
Lumpy Britches
Jake I know you must of made some egregious sports bets in Vegas. I can see you getting down on those horsey’s that pull the little rickshaw.
Actually, we did spend half of Saturday in the sports wagering room, betting on all the pony races leading up to the Preakness, where my UPS truck made all the other nags look like they were still attached to the merry-go-round.
But never ever do I bet the bullshit rickshaw races. If you’re going to fix a race, then at least don’t make it so goddamn obvious.
At least when you bet the ponies, you can tell yourself you’re doing some “analysis” before you throw your money away.