I am so tired of Cramer’s endless rants. See, what you know about Cramer is that he is a flip-flopper. What most of you cannot fathom is his ability to manage money, in a responsible manner.
But, you’re wrong.
There are two types of investors.
One: The guy, like Einhorn, Ackman or Buffett, who sticks to a thesis and doesn’t waiver, unless proven wrong.
Two: The guy, like Cramer and everyone on realmoney.com, who trades based upon the wind patterns of Wall Street.
The problem: Cramer style is terrible for the unwashed folk watching his show/reading his blog, especially those who have an investment time frame of more than 3 days. Because he is constantly changing his mind, he appears to never make any sense. When in fact, his nonsensical advice is perfectly sensible to someone who trades like a degenerate OTB guy.
I digress.
China’s stock market is down more than 50%, year to date. I am here to remind you that markets do not go straight up, after killing so many people. There is so much overhead resistance, littered with people trying to salvage their life savings, it will take years for the Shanghai to recover, sort of like Nasdaq 5,000.
On this faux hype, I want to go short China, via [[FXP]] or outright positions in China Life Insurance Company Ltd. (ADR) [[LFC]] , China Mobile Ltd. (ADR) [[CHL]] or [[CEA]] .
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yah, but after being wrong so many times the odds are Cramer could be right this time. He could be like the guy in the photos, his shorts are off but they are still on.
LM just broke $39, thanks.
Fly wins again.
Buylo:
You shut up too.
Is this the end for FNM/FRE? What does Merlin have up his sleeve?
I love that photo of that little panda. One pissed off little fucker!
Let’s get this straight. China is such a fucking, retarded country, they enjoy fried baby sea horses on a stick, with a glass of cheap plum wine.
BTW, James Altucher says the last time crude traded at 112, the S&P 500 was 10% higher. In other words … “BUY” opportunity. What a fuck face!
F Cramer….not China…
FXP has provided great trades, but is not a thesis….
the lack of shorts makes it even harder for china to go up because everyone has to be buying and not covering…
if the US did not have shorts, the market would be 2000 points lower…all these gibroni novice hedge fund managers are doing the same trades thus fucking each other and catching each other offsides all the time
Fuck Russia and Fuck Putin.
There, I needed to get that off my chest.
Thanks.
A $58 billion stimulus package = about $50 per indentured servant/ChiCom citizen. Even for someone making $120/month, at some point 50 bucks is still 50 bucks.
Reinstating some of the fuel oil subsidies they dropped prior to the Olympics would have a bigger effect, but I don’t know if their gov’t will do that until a few thousand people freeze to death in their poorly constructed concrete hovels this winter.
Their bigger problem is that the cheap labor jobs that built their economy are leaving the country. Doubtful that the gov’t can convince all the youngsters who’ve migrated from farms to factories to migrate back and grow food until this labor pricing issue stabilizes. Maybe the gov’t will just eat it and subsidize factory worker salaries and drive Vietnamese workers further back to the Stone Age and rice paddies.
But I think FXP goes down for a few more days before “the market” catches up with “The Fly”‘s time machine.
______________________________
“buylo Says:
yah, but after being wrong so many times the odds are Cramer could be right this time.”
Tho I am actually quite impressed with the New Civility brought about by our host “The Fly”‘s foreswearing of swearing, this is the most efftarded effing comment I’ve ever read on this site.
All apologies.
AIG at a critical point here, Double bottom or a 5 dollar dive.
The machines (cranking out 60% of the equity trades) have been quiet so far.
Many machines.
How long will they remain quiet and which way will the machines run it?
The frequency with which the machines have whipsawed the market has increased.
Don’t fight the machines – just scalp the dips and rips – this is the best trading market you will likely ever see with such a defined range.
Anton, oh yeah, did you ever think about this: hows about the US lets enter all the cheap labor from China you said exists and is unhappy and wants to come here and thus our big corporations can once again manufacture everything here for export and the US can once again have the preeminent manufacturing base and supply the world – just think what that would do to our economy and stock market. Besides, Fly said he’s tired of Tex Mex gardeners and dishwashers, busboys, etc.Time to go Chinese!
Well put about Cramer, however Shanghai was not the same as Nazz 5000. Chinas equivalent to Nazz 5k is still many years away.
The “angry panda” is a new sex move that permabulls just love.
CUBS ROCK…AXP is in a similar boat to AIG
this market cracks me up. there’s not one stock i would own for more than 3 days.
buylo,
Thank you for the correction.
Now your previous comment is only the second most efftarded effing comment I’ve ever read on this site.
My gentle criticism was regarding your, “Cramer’s been so wrong, odds are this time he could be right” comment.
With this logic you could well conclude that, “John Daumer killed and ate so many young guys, odds are this is the perfect time to hire him to babysit the boys.”
I use Daumer as an example because he is dead and therefore you cannot actually hire him this weekend, just in case this seems like a good idea to you.
“The Fly”‘s restraint in his language choices inspires newfound respect.
Again, all apologies.
Bennet Sedacca
12:10:42 PM
No positions in stocks mentioned.
Credit markets still a mess…
I sit here all day and watch real-time TRACE trades of round lots of all sorts of financial names.Everything from banks to brokers to Washington Mutual (WM) to AIG (AIG) to American Express (AXP).
And every day they get wider.
This means that every day we inch closer to the credit market being completely shut to new issuance for these guys.
And that is when the fun begins.
Even if the SEC changes short selling rules as I expect (bring back the up tick rule, etc.) it doesn’t allow companies to borrow.
The end game seems set to me. It’s just a matter of time. Personally, I think it’s soon.
On a side-note, and a follow up from yesterday’s buzzes on Lehman (LEH), its benchmark preferred continues to get hammered into the 16% vicinity. I don’t except the company to be around much longer.
Anton, is John Daumer the baby-sitting brother of Jeffrey Daumer? Now, hold still while I position these bowls on your head, it’s time to trim that nice hairstyle of yours.
LMAO at The Angry Panda, the new dance/sex move to sweep Wall Street.
BTW I love NOV.
Boca,
Okay, now I’VE said the most efftarded effing thing, etc, etc.
So hard to keep my psycho sexual serial killers straight.
Not that Jeffrey was.
Not that there’s anything wrong… um… never mind.
Just a trim, then. A little bigger bowl, please.
great song ” Flip Flop and Fly” by Downchild Blues Band
Anton, please don’t tell me you want to emulate JD? You used to wanna be like Mike, then the Fly, now JD? Do you need help? What’s going on in that once fertile mind of yours? Too much whipsaw? And look, if the US can spend billions in Iraq, they could spend billions in drilling for new oil and get it on the market quick and billions to import the Chinese legally and voila! you got yourself an re-born economy. But, its guys like you and in Congress who say this is too simple and “it cannot be done”. Well, there you go. And no matter where you go – there you are!
Don’t worry about it Anton, after your haircut we’ll go for a long drive in the country looking for deserted gas stations. Don’t forget the bag of quarters. You’ll feel much, much better, I promise you.
mathematically, the ‘bet against the streak’ (cramer’s in this case) doesn’t jive. it’s like betting on roulette and picking black, because the ball landed on red the 5 previous spins. you haven’t increased your odds in any way.
*however*, if you apply chaos theory to the situation, betting against the streak does, in fact, work.
so now we’re back to square one (black or red).
sums up this bi-polar market.
Buylo, pardon me, but your Chinese immigration plan does sound a bit impractical. No big deal though, our government is used to being impractical. Carry on.
Adding, Aris “gets it”.
Grazie, Boca.
buylo,
NOW I get it. You’re nuts. Thanks for clearing that up.
http://www.marketoracle.co.uk/Article5931.html
Jumbo Jimbo Rogers interview.
POOF. Your bullshit shoe is untied.
Losing It
WTF FDIC in the mortgage business??
FDIC to offer better terms on thousands of IndyMac mortgages
By Wallace Witkowski
Last update: 1:54 p.m. EDT Aug. 20, 2008Comments: 39
SAN FRANCISCO (MarketWatch) — The Federal Deposit Insurance Corp. said Wednesday it will offer thousands of homeowners with bad IndyMac-originated mortgages better terms to rehabilitate the loans. By the end of the week, FDIC said it will send out “several thousand modification offers” to homeowners with IndyMac mortgages that are seriously delinquent or in default. The modifications will cap interest rates at 6.5% and payment options will be designed to keep payments at a 38% housing debt-to-income rate. In July, FDIC was named conservator of failed IndyMac Bank, which was renamed IndyMac Federal Bank.
Buying the indexes on this mornings dip worked out nicely. Long VLO is a moneymaker as well.
Hey Fly… my thoughts exactly on the Nasdaq vs Shanghai relationship… take a look at Nasdaq 2000, I posted about this a few months ago AS THE shanghai was dropping…
http://www.thehawaiitrader.com/2008/03/big-trouble-in-big-china-shanghai-crash.html
However, lately I’ve been studying some other stock markets in countries when their economy just started to boom, and I have this idea… China/Shanghai boom just might emulate America’s Industrial Boom, you know, early 20s. If that’s the case, then my theory on China Great Depression might come true, (which will really suck because it will suck down our economy too). The market is so inefficient in China right now, and economics will tell you that the market ALWAYS rebalances itself… Government intervention only encourages a crash, laissez faire is what will get China back on track… who knows how many years that will take, or for them to figure that out.
Try trading off that. 🙁