Choppy markets are the death knell to sloppy investors. It is almost impossible to time this market, so why bother?
Obviously, my bias is strictly to the downside. However, I do have a variety of long positions, that I have outlined, to hedge against my shorts. I cannot stress this point enough.
With my money, I might buy more Barnes & Noble, Inc. [[BKS]] and KB Home [[KBH]] here. I like BKS, based upon fundamentals. And, I like KBH because it’s nonsensical.
In addition, I will be selling out my Hansen Natural Corporation [[HANS]] position. I bagged a quick 15%+. I’m out. With the proceeds, I will buy more Chipotle Mexican Grill, Inc. [[CMG]] . It’s a bit of a risk. However, should CMG get their act together and report good numbers next quarter, the stock will rip the heads off of short sellers’ necks and sprint to $100, easy.
Once again, tech is strong, led by Research In Motion Limited (USA) [[RIMM]] and Co. Also, Ctrip.com International, Ltd. (ADR) [[CTRP]] is smoking higher on a good quarterly number. Focus Media Holding Limited (ADR) [[FMCN]] might be a trade off of it, or not.
Finally, I want you to understand something. The whole write-off business is going to crush New York’s fiscal budget, for years to come. 20% of New York’s revenue is derived from the banks. I got some news for you: because of the write offs, the banks will be able to operate tax free for years to come. Where will NY and NYC get their revenues from?
Answer: sue the banks.
Top picks: BKS , CMG , short Cathay General Bancorp [[CATY]] .
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You know you want to tell somebody to go fuck a goat!
Its hard being nice huh?
I am not exactly being “nice” per se.
Since I am never permitted to curse in real life, this whole clean act has me going batty. I use the site to vent. Now, it’s all bottled up. I might throw a cannon ball at my trader/servant today.
Fly,
Does your cursing sabatical extend to the rest of the net, or just this site? You could start sending out an email newsletter, dropping f-bombs left and right.
re: VMC
I’ll say it for both of us Fly…….fuck this, fuck them.
Inflation is only at a 17 year high. Surely that’s a cause for celebration. And the best way to celebrate is to buy “bargain-priced” financial stocks.
Lot of douchebaggery going on out there today.
Whoa.
Didn’t sell HANS yet. Look at this thing run.
NYC will get their needed revenue from a special tax on egg creams, NY style pizzas, and corned beef sandwiches (on rye) sold in the city.
Fly,
With regard to the swearing/cursing thing, your self-discipline and self-control are commendable.
I’m the same way, maintaining pleasant and edifying speech in public. Obviously, you cannot “carry on” at home like you have on this blog.
However, everyone needs an outlet.
The solution for me, is to go for a 2 mile run deep into the woods and then yell my brains out until the bark falls off the trees. Sometimes, if I’m really ticked, I’ll execute a few knifehands and roundhouse kicks on a ponderosa pine tree, prior to pissing on the poor sapling.
If it gets to the point that I go all “richter” and shit, I break boulders into little stones.
One outlet would be to go to the local dump and shoot at rats.
TC, I do that just for s&g’s, when I’m in a pleasant mood.
Billy Bob- What do you shoot at when you are not in a pleasant mood?
It appears the only prayer crude and natty have right now are a tropical system blowing thru the gulf. The weather gods are not smiling on this scenario as there are serious hints of early fall weather and La Nina completely dissapated and even mild El Nino type phenomena at present.
Weather can change quickly like sentiment though.
There is now a tropical low which should form into a Depression named Faye in the next 24-36 hours. It should then develop into a hurricane (after it becomes a tropical storm) and within ten days, depending on the strength and location of the Bermuda High ( plus the wind shear intensity) hit Florida or the Carolinas.
Bank on it. This is the time of year the action begins.
TC, it’s moving due West… I’m praying Florida gets slammed. You guys keep your storms to yourselves.
-DT
I will gladly take the other side of that trade/thesis Caddy.
How’s that scrote sack indicator working today, Fly?
Damn, those johnny boys must be painful, if you know what I mean…
Have to somewhat agree with TC, here. He is talking about Invest 92L. Recon is in it right now. Actually, it may very well be called by 5:00 today…might be a TS, too…nice winds in it, although a compact storm.
Usually a storm in this area recurves out to sea, but looks like this one may hit the gulf up to NC.
RIMM to 150~
Critical thinking at its best on IBC.
Gotta love it.
My models have the current system dissipating and another one behind intensifying quite a bit and becoming a hurricane a week out (next THU) due EAST of Puerto Rico.
This shit changes as fast as you can hit the sell button though.
Oh thanks DT. If it hits here I’ll go outside, shake my fist at the sky, and yell out a few karmic curses upon you, which shall get you when you least expect it. Don’t sleep well, now, y’hear?
Fascinating, Captain.
Not only am I getting “shit-socked” by VMC, but it seems I cannot upload a post from my throne of Peanuts.
Ironic, as I’ve much to say, and fear being tagged as “lazy as a Woodshedder.”
___
Buy the Cubes and Monsanto, I’ll explain later, maybe.
_
I was hoping one day SpockGint would do the market wrapup. Too bad the PG tab is not cooperating.
MF, not sure what models you are looking at.
Look at the 12z HWRF that just came out….not a pretty scenario….Keys into the gulf
Check that…it has it bombing and hitting MIA.
I don’t use computer models to predict the hurricane paths. I use the idiot neighbor model. I monitor and update their behavior patterns. If he puts up the shutters and I see him heading to Home Depot for supplies then it’s a slam dunk any hurricane won’t hit Central Florida. He hasn’t done anything yet so I believe their is a good chance of a strike.
Let’s Blow Something Up on Youtube…. good stuff.
http://www.youtube.com/watch?v=VCZmVVhLfsk
A link for boca:
http://www.cracked.com/blog/2008/08/13/the-foaming-raving-lunatics-guide-to-amazoncom/
MON is kicking my account to the curb today. So is EOG. At least DE is/was holding up (got an upgrade this morning)…
Decent chance of a NASDAQ reversal soon led by fall in AAPL, and chips. GS slipping.
LMAO, love Cracked and the guide to Amazon, thanks DPeezy.
The Quant funds are sucking money from everyone. Any trade you see they will take your money. Stay away from oil and Gold until they are extreme oversold. If you buy pick longs and hedge. Position traders etc. need to wait until overbought/oversold conditions appear. It may take until September to get oversold and make a double bottom.
Only trade oversold/overbought. Charts will not work due to cross trading etc.
Listen Boca, I’m a northerner and hence, not really used to your white trash southern storms… however, one word of caution… if the storm does come and hit your trailer park, don’t step outside to shake your fist at the sky.
The sky is much bigger than you, and will most likely get the last laugh.
I’m not so much wishing ill on Florida (although I blame you for the last 8 years) as I am wishing good things for the northeast. So any karma I lose down there, I regain up here… and since the population centers are in the northeast…
DT wins again!
-DT
DT, you must be confused. All the “trailers” in Boca have marble floors, gold plumbing fixtures in the egregiously decorated bathrooms, and gardeners for our impatiens, bougainvillea and palm trees.
Apropos of nothing, I found my house on Google Earth the other day. Interesting.