I am calling it a day. I sold most of my longs, near the highs of the day and have been making errors ever since. I find myself tempted to allocate capital into The Mosaic Company [[MOS]] and National-Oilwell Varco, Inc. [[NOV]] ; but my insanely well tuned brain says “asshole, cut it out and go home.”
So, I am taking my ball and leaving you fuckers on the field, with nothing to toss around.
As predicted, there is obscene carnage in NYC commercial RE. I have clients who manage money for some of the biggest commercial RE guys in the country. Let me tell you, they are not interested in dumb ass NYC buildings.
From Vornado Realty Trust [[VNO]] to Simon Property Group, Inc [[SPG]] to SL Green Realty Corp. [[SLG]] , it’s bloody murder. If I was thinking fast, I would have bought 30,000 [[SRS]] . However, I was too busy “roaming” around my fucking office, reciting the words of Marcus Aurelius.
To sum things up:
I enjoyed bountiful gains today and remain optimistic. The key tell on this market will be how it responds to today’s bout of profit taking, first thing tomorrow morning.
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(Jake slips spanking new spaldeen out of pocket, chalks up “box” on Fly’s spanking matte black bullpen walls, and prepares his stickbat…)
Developing…
_________
Don’t go away we may finish up 2000 points
JAKE BUYS QLD!!
Go Jake go.
Jordan Kimmel thinks this is a ‘classic bottom’ and I think Jordan Kimmel is a ‘classic Asshat’. So I think the market goes down. Asshats like Kimmel are always wrong. Always !
Why is it every time I refresh my page my name changes to the last person who posted?
CAP-
Weren’t you calling for the end of the world last week, and just yesterday you said the DOW would hit 10k by Friday?
That Dali is one weird looking guy.
I may have nightmares.
Market Fool-
Me too.
JAKE BUYS (MORE) TSO!
Correct. Mr. Kimmel, as a point in fact, is an asshat.
http://www.ibankcoin.com/flyblog/index.php/2008/03/28/asshat-of-the-week-award-jordan-kimmel/
Well done, sir.
Anyone know where I can find a measure of the option volatility premiums? I want to get in to some options but have no desire to pay absurd vol premiums like whats happening now.
Colors –
The Dow nearly hit 10000 today. I still think we hit 10000 by Friday. It just worries me to be long alongside asshats like Kimmel. My trading strategy is to always fade the asshats.
Gotcha, CAP. I couldn’t remember if it was you or someone else that made that comment. Thanks.
Fly- When I saw Kimmel on CNBC on the NYSE floor and before they mentioned him by name I was thinking where have I seen that Asshattish face before HHHMMMMMM. I thought for a few brief seconds before it hit me . Aha – Thats Jordan Kimmel Asshat of the Week award winner from IBC.
this is the most ridiculous action i’ve ever seen in the market. it’s like watching a bunch of circus clowns jump around in a panel van.
Awake –Options Xpress has that tool, but you can always use the VIX as your proxy.
________
Dont forget this: http://www.youtube.com/watch?v=RSzFIGZLNuo
Re-watching that video is great in hindsight.
You need to go in the money Awake. No freebies with the VIX way up here 🙁
We don’t need a Ball, Kick the Can is going to make a huge comeback.
C hits a new HOD. It’s so happy to see Government (taxpayer) $$$. It should fail.
Circus clowns are disturbing but somehow fascinating.
Aris- Funny. I picture the Shriners parade with the clowns driving the little cars in circles.
Shriner clowns are just plain disturbing.
I’m buying TSO here.
(didn’t I say that at $20 also?)
I sad it before and I’ll say it again: Short Boeing. No progress on the strike, tomorrow they will lower earnings expectations, and ain’t no airlines buying new planes (or governments).
I met Steve Liesman outside the White House this morning. Super nice guy – definitely not an asshat. Wish I had my copy of the WSJ for him to autograph.
punyandy-
I saw him from a distance about last Thanksgiving time outside the Alexandria, VA Metro station.
OMG you guys are you serious!?!!
Is INTC a lottery pick before AH earnings report? Has bad news been discounted in the price?
What the fuck is going on at HIG?
Another big gap up tomorrow.
NOV rocks.
its bounced hard – twice
Topper: the market just realized that, even though it has the word “investment” in the company name HIG is a shitty, conservative life insurer, not an investment bank or fucked financial.
TC — definite Costanza.
__
Forget it, the stock market is going to go back down. Why? Because Dr. Death said so!
Nouriel Roubini, the professor who predicted the financial crisis in 2006, said the U.S. will suffer its worst recession in 40 years, causing the rally in the stock market to “sputter”. ~ Bloomberg
punyandy:
I met Liesman in March at CNBC HQ. Was surprised by how short he is, but agree he is a nice guy.
Curious, is there anyone here that has NOT met Steve Liesman?
^^^
LOL
Did I mention my SFI was doing ok… 😀
I want to meet Joe B.
TC – I got a medium sized call position in INTC.
JakeGint,
Why QLD? The NDX showed considerable weakness today.
…INTC is trading higher at the moment
INTC looking good, should bode well for MY precious AAPL & GOOG.
GASBAG-arino set next cramped table over @ ’21’ about 8 years ago before he was ‘on-air whatever the fuck’ on CNBC…loud, drunk GOOMBAH interviewinge Georg Schultz of all people.
The bear market rally is still alive. It depends on closing above yesterday, which will probably happen but maybe not as soon as some expect.
In case we eventually close below Friday’s lows, it may pay to do a little planning for your SIPC accounts. Most brokers insure the balance over $100k with Lloyd’s, which may have some solvency problems if serious economic problems persist.
So, unless you’re counting on another bailout for the insurers or are confident that you’ve called the bottom, it may be beneficial to have a Plan B in mind.
AAPL up 10% AH? And I thought MacBook World was a letdown…
I traded APPL three times today and made money on each trade. First time in a long time. Felt good!
Anyone have any thoughts on the INTC action?
DP I show AAPL at 105.69. No 10% here.
DPeezy – AAPL is up 1%, not 10% AH.
Dpeezy obviously sees the future, he is refuring to tomorrows price action.
[sic]
Strange; it showed 10% just a few minutes ago…
ALTR looks good AH- earnings beat by .01 and rev. in line. Don’t know about guidance.
I’m banking on INTC (aka. the men upstairs/in the other building) to give a nice push to tech. GOOG will bring the 2nd effort.
Of course, it could all go the other way as well. INTC’s “cloudy outlook for the future” won’t help things…
Conference call will be the key for INTC, however, it looks like the bad news may have been discounted. Classic setup in the AM to buy SMH at the open if the market takes a hit.
Shroomz–
It needed a healthy pullback from the snapper, and got one today. I also figured that INTC has been mudstomped enough that even “meh” news would already be priced in.
Looks like “Jake wins!” at least temporarily.
I have not met Liesman but I did meat Felicia Taylor last night. Very nice woman. She is in 100% cash.
CEO shenanigans –
Terry Woo
02:55:58 PM
No positions in stocks mentioned.
Forced Selling?
Here’s a summary of the forced selling by executives that Toddo was referring to. From the Wall Street Journal this morning…
* Apartment Investment Management (AIV) reported recently that two family partnerships in which CEO Terry Considine has an interest in sold about 600,000 shares. CIO David Robertson may also have been subject to involuntary sales because of margin debt secured by about 173,000 shares.
*
Boston Scientific (BSX) two founders sold about 31,000,000 shares last week.
*
Sumner Redstone’s National Amusements were forced to sell $233 mln worth of CBS (CBS) and Viacom (VIA) nonvoting shares.
*
Chesapeake Energy (CHK) co-founder and CEO Aubrey McClendon had to unload most of his 5.8% stake in the company because of margin calls.
*
Coca-Cola (KO) executive said last week JPMorgan (JPM) took over his 18.6 mln shares that were pledged as collateral. More might have to be sold.
*
MBIA (MBI) CFO Chuck Caplin also another victim forced to sell about 25,690 shares.
*
And Tesoro Corp (TSO) Chairman and CEO Bruce Smith was forced to sell over 250,000 shares, about 14% of his holdings. More sales may come.
*
Finally, XTO Energy (XTO), which was is also known as the Ospraie killer, said CEO Bob Simpson had to sell 26% of his stake, or 2.8 mln shares.
After handshaking yo’ all fucks, I met Maria Bartiromo. She was all orgasms and shit after that rally yesterday.
You gotta love TSO closing above $11.00 like that.
I may like that play (to first fib of… wait for it… $21.00!) even better than “CHK into cash!”
_______
Don’t you hate when Fly goes all “pre-pupal” & shit, throws some go to sleep Icelandic music on vlog and then lights out early?
__________
Jakey,
tso will show you the money.
i had a dream, soon to be true, 28-32
i will be pissed.
Jake,
are you still bullish on QLD for tomorrow?
It goes a little something like this…
Red Sox win tonight, market rallies tomorrow. Rays win, I dunno what’ll happen. Maybe a rally anyway. Cue the monkey.
The football Giants showed what they were made of last night, Eli Manning’s a bitch, hehehehe, Cleveland rocks!
Go Rays.
Go Browns. They were happy in the Flats.
Steve Liesman was arrested when he was in college. He was pledging a frat. and his brothers paid for him to spend time with a hooker. Im sure he thought he was going to get some “stank on his hang low” but she was given intructions to tie him up, take his clothes off, and shit on his stomach.
The cops came in and busted them both.
Google it
One of the greatest movies ever: “Wall Street”. Covered in NY Times and mentioned on Fast Money tonight:
http://video.on.nytimes.com/?fr_story=069023a0ac58e39826872e17505d62e5d94ec801
Gotta have a let down some time. Better than getting your nuts all swelled up to 19-0 and having a premajac like the jackass Pats last year.
A little humility goes a long way. That said, their defensive line better show up next week, or we’re flocked.
Also hoping for a Tony Gonzolez (sic) trade here…
__
Chivas — from your mouth to God’s ear, Martin Luther King, Jr.
___________
Jig — yes.
__________
Liesman is my kinda people.
LMFAO
I thought I had a corner on stock tips via dream. Dang. I lost my edge!
It’s “McKuen”
in the ghettttooooooooooo
…in the GET-TOE
Chivas – Here’s hoping that your TSO to 28-32 dream comes true. I have a boatload too. Initially took a small starter position at $19. Doubled it down at $15 and loaded the boat in the 9s.
Haven’t met Liesman. But wouldn’t mind a gentle slide right into some Becky.
Gap up tomorrow?
Hmmm… the fact that Ass Napkin Mike actually knows this story about Steve Liesman, means that either 1) he truly lives up to his name of Ass Napkin or 2) he is Steve Liesman in disguise.
CNBC Watcher–
Would that action be accurately described as a —
(wait for it!!)
++++++++++
————-
+++++++++++
“Becky Quickie?
(badump-chaaaaah!)
_______
Gap up tomorrow is a Freudian slip.
Karen TSO is looking spectacular tonight at these levels.
its freezing up in this bitch, better warm up tomorow or the people are going into an long ass winter..
The following is from the best trader of all times, I give you his predictions for 2008 with winners and losers separated.
LOSERS
——-
Goldman Sachs (GS) makes more money than every other brokerage firm in New York combined and finishes the year at $300 a share. Not a prediction—an inevitability. In fact, it’s only January, and I think it’s already come true.
Verizon (VZ) becomes your cable provider.
Cramer praised Verizon’s Fios, and predicted that the stock will be the best performing in the Dow Jones averages. Time Warner (TWX) and Comcast (CMCSA) will be hit hard, he adds.
Who the fuck is Verizon?
Cramer is bullish on Google (GOOG):
Google stock reaches $1,000. The company becomes one of the top three companies in the U.S. in market capitalization… and succesfully challenges Microsoft (MSFT) for operating-system dominance.
1000? Really Jimmie?
With the dollar weak, Cramer foresees European companies swooping in to buy up the likes of Merrill Lynch (MER), JPMorgan (JPM), Colgate (CL), Clorox (CLX), Whirlpool (WHR), and Black & Decker (BDK), which, he forecasts, will all see their stocks rise as a result.
LOL, MER stock price rises
Apple (AAPL), he predicts, will reach $300. He sees it successfully taking over the music business, and, among other knock-on effects, he forewarns that Warner Music Group (WMG) will file for bankruptcy.
OK well this will soon be a winner but its a loser right now
Turning to the media, Cramer posits that the cash-strapped New York Times (NYT) will accept a buy-out offer from Mayor Michael Bloomberg at $20 a share.
The NYT is for cock smuggling men in Halloween uniforms, maybe the Mayor is gay.
WINNERS
———
Oil goes much higher, maybe as much as $125 a barrel… We are running out of oil more quickly than people can imagine, and that means great returns for oil companies. Just buy the stock of the company you filled up at today or buy a driller (Transocean (RIG) is my favorite), then sit back and make money.
Dead on, although you did need Eric “Oil Barrel” Bolling to make you eat your hat, by the way did you welch on that bet?
The Fed arranges an Arabic Heimlich maneuver on Citigroup (C), so the banking giant doesn’t choke on the worst mortgage portfolio in the country.
Pure Luck
Turning to private equity, Cramer predicted that Cerberus Capital Management will fail to resuscitate Chrysler (which he attributes partly on the choice of Bob Nardelli), and that Congress will agree to bail out the fund.
If GM buys the former DCX then this will be a loser too
Returning to his lament over governmental and Fed policies, Cramer predicts that the victims of foreclosure will lead a march on the White House and lay siege on the Fed. This, he says, will lead to Bernanke resigning, his replacement slashing rates, and the markets rebounding. As Cramer admits, this one’s a very very long shot.
Actually Jimmie when you try to make up shit you do better than your honest opinions
Over all not too bad although the losers were way fucking off. Maybe we can update the score card in 3 months. I am eager to see 2009’s bullshit. By the way where is NYX now, remember that top pick?
Roubini and others keep predicting the future – my objective is profits – what to do? Just buy bear ETFs and hold’em?
I missed the big bounce, still in cash.
With that today im drinking cheap shit bush beer.
However listening to Physical Graffiti. aka Wonton Song
http://www.youtube.com/watch?v=NWN474a_Y5A
not Bohnam
I tried googling that and can not find it.
Link me up
Actually it was two hookers.
And a goat.
“Nobel” Prize humor:
One day after the Nobel committee announced that Paul Krugman had won the 2008 Nobel Prize for economics, colleagues of Mr. Krugman voiced concerns that winning the coveted award could turn him into an egregious douchebag.
http://www.huffingtonpost.com/andy-borowitz/krugman-could-turn-into-m_b_134477.html
http://dallasvintageshop.com/wp-content/uploads/2007/07/hi_fashion_suit.jpg
paulsons ill legidiment market.
Owww! My eyes!
Looks like “casual Friday” at Fly’s office.
http://www.youtube.com/watch?v=AmZjD2UWoso
How about those Rays?
BoSox who?
What the fuck is wrong with Cramer telling people to sell the open and shit today. This man is giving advice to who? People that go out and sell the open or buy the close each day? What the fuck? Is he targeting traders now or investors? This man is off his fucking rocker.
Feeling better,
Owwww My eyes.
That market Froth hasnt reared its head on this board.
Heres an oldie but goodie,
http://www.youtube.com/watch?v=jZyyFh2GV6U
wtf is wrong with me – I keep watching Cramer?
Needle and Anton…that reminds me of one of the greatest movies of all time.
http://www.youtube.com/watch?v=u0TYI5b-Lmo&feature=related
http://www.youtube.com/watch?v=yM5N1IGfKnk&feature=related
I was watching some old charlie rose youtube videos and doing some wallstreet history, tonight.
Just scrolling back the charts on the S&P and DOW, you realize just how far we fell. I mean, the DOW was at 8000 in 1997 for fucksakes! Now it’s just over 9000. It’s time for perspective.
I think this market is cheap. I’m staying 100% (was 100% going into Monday) until December before re-evaluating. I don’t care if I’m a fucking pig or not. Of course up to 40%-50% will be traded in and out using volitility. But no shorting.
The media has become so focused on the day-to-day, but since Friday something changed. Friday just FELT different.
Whoever was impersonating me please atleast say words like fuck shit cunt bloody gash cum queen slut hole ballsack licker and other shit like that. I keep it real and don’t use faggot words like “wtf”. Its FUCK all the way, no pussy shit around this shithole.
By the way that shit FoxBusiness is running is the funniest shit I have seen in a long fucking time. Cramer has to be fucking throwing water bottles at people up at that communist NBC building. We all know they lick each others assholes up there when that fucking idiot Immelt comes in, what a knob slobber.
Anyone, looked at Energy Solutions Inc. (ES)? I don’t see why 10X EPS is a bad thing, but maybe I’m not getting it.
Hilarious! note: Click on picture and volume up
http://palinaspresident.com/
That is really funny.
gapandyap … I like your style! 8)
haha funny
click on the red phone
this sox/rays situation sucks. just like the market, boston sports peaked in ’07.
Sawx were definitely “overbought.”
Fuggin pink hats sunk ’em.
______
I just saw an CNBC lambasting Jim Cramer? Fox was the sponsor. Pretty funny that they can buy an ad on CNBC and rip on them.
Fuggin’ Gay Rays are playing good ball, without a doubt.
‘Sawx have been behind 3 – 1 before. However, this time, no Manny and no Lowell. Plus, Beckett and Lester decided to serve up candy-ass home run balls in each of their games. Wake did no better. Bleak, really bleak.
Pretty funny that they can buy an ad on CNBC and rip on them.
Hey, CNBC is laughing all the way to the bank.