I know it is the rookie thing to do to sell right now, considering everyone is trying to do it all at once. Both my trading system and order entry system are experiencing “technical difficulties.”
Mind you, shit like this makes me want to pull my computer out of the wall and throw it, mind you, into the window of my local Best Buy. Howsoever, I was able to execute most of my trades, taking profits in [[UYG]] , The Mosaic Company [[MOS]] , Apple Inc. [[AAPL]] , Citigroup Inc. [[C]] , [[UKK]] , Smith International, Inc. [[SII]] , amongst a variety of other names.
If this market is in classic melt up mode, it will trick the shorts into believing we are heading lower. They’ll get back in, then BAM, the “guillotine of certain death” aka the “executor of all things homo” will reign down on them, towards the end of the trading session.
With my money, it’s all about keeping it classic and real, of course. Already, I have retarded profits and find no need to over stay my welcome. So, I will sell 75% of my longs today and kick back, relax, and proceed to launch fake scud missiles at Tim Knight’s homo blog.
No, seriously, I might buy some other stuff later. It all depends, frankly. Keep in mind, the last two days have been insane.
Taking profits in UYG. Buying SDS, reducing risk.
yes, indeed.
I did the same, took profits on UYG in pre-market. I may have been too early though, got out at 12.00. Still, entered at 7.93 thanks to the Fly, so not too shabby! Thanks a bunch, Fly! Can’t wait for the PPT, man.
Indeed. Lots of volume on that fade.
-DT
Asprin.
Treasury plan is getting ready for the Obama administration. Reward the financial institutions that screwed up and punish the ones who did the right thing.
Why is tech so weak?
Developing,
The FED is growing another TIT to feed this BS?
“They’ll get back in, then BAM, ,the guillotine of certain down with reign down on them, towards the end of the trading session.”
Translate please ?
For the most part, I will hold NOV until I die, or it reaches 45.
Good idea to take some profits.
Going to try holding my QQQQ, RIMM and JNPR March calls till xmas rally. I have to be patient, I am up too much to care about losing a lil here and there.
LOL2 – why are they weak? Are you retarded son? Was it the little bus that picked you up everyday? Did you not see what happened last week and what happened yesterday? Are they weak? Go shoot yourself in the face and save the good O2 for the rest of us
CAP;
The MArket may explode to the upside, after all this rookie selling gets washed out.
I am scaling out of position, holding out for better prices.
I feel so smart this morning because I took my profits in BAC and UYG this morning before I read that you had. Hooray for me.
If you want to go short, how about Boeing? This strike is going to cripple their next few quarters’ profits, they have a lot of debt, and frankly I don’t think the strike is going to be over soon.
Fry:
As of now, I have no desire to potentially fuck up my wins. I am content with cash and TBT.
Consumer playtoys doing well:
14-Oct-08 06:08 ET Polaris Inds beats by $0.04, beats on revs; guides Q4 EPS in-line; guides FY08 EPS above consensus (35.17 ) : Reports Q3 (Sep) earnings of $1.13 per share, $0.04 better than the First Call consensus of $1.09; revenues rose 6.7% year/year to $580.3 mln vs the $563 mln consensus. Co issues in-line guidance for Q4, sees EPS of $1.07-1.10 vs. $1.10 consensus; co expects sales growth in the range of 0-2%. Co issues upside guidance for FY08, sees EPS of $3.47-3.50 vs. $3.45 consensus; co expects sales growth in the range of 10-11%.
Industrial supplies kicking ass:
08:01 GWW WW Grainger beats by $0.26, beats on revs; raises FY08 EPS above consensus (84.45 )
Reports Q3 (Sep) earnings of $1.79 per share, $0.26 better than the First Call consensus of $1.53; revenues rose 10.9% year/year to $1.84 bln vs the $1.8 bln consensus. Co issues raises guidance for FY08, sees EPS of $6.00-6.20 vs. $5.90 consensus, prior guidance $5.80-6.10. Co said, “Our third quarter and year-to-date results are a testimony to Grainger’s winning strategy and our employees’ ability to execute… Going forward, the credit crisis and its effect on the economy create uncertainty; however, our national scale and local inventory availability help customers be more efficient as they maintain their facilities during these challenging times.”
Railroads hanging tough:
3-Oct-08 06:34 ET Genesee & Wyoming say traffic in Sept 2008 from continuing operations was 65,999 carloads (25.77 ) : Co announces traffic in September 2008 from continuing operations was 65,999 carloads, an increase of 2,052 carloads, or 3.2%, compared with September 2007. GWI’s traffic in the third quarter of 2008 was 204,053 carloads, a decrease of 807 carloads, or 0.4%, compared with the third quarter of 2007.
WHERE IN THE HELL IS THIS RECESSION EVERYONE FEARS ?
Fly,
Which level did you buy TBT at? How long do you think you’ll hold it for? Thanks.
Fly – both you and Tim are the ones who have a trading beat (bead?) on this market … this professed hate for each other is gay, love … maybe unrequited love 😉
60ish.
It’s a long term hold, up to $200.
The tail cannot wag the dog. TED Spread now 428 bps.
Agreed Donny-
Every time the govt. has intervened in the markets since Bear the result has been a new low. Bank on it.
Tim is just jealous that his blog has been rendered “useless” and “entirely useless and filled with off beat rhetoric” by the Blogging Association of America, while saying “iBankCoin is a beacon of truth and justice in this crazy, crazy world.”
Don’t get crazy and start shorting everything. This is how you get trapped.
Wait it out.
Thanks for the “heads up,” Petey.
More upside to this SRS run?
Donny
It takes some fucking time for that shit to correct. Stop being so impatiently gay, you homo. Everyone has a screen and can see where it is without you having to tell us. If you can’t wait a few weeks and think it won’t come down go out and sell.
Fucking newbies. They’re all Ted spreaders now. Ask them what he ted spread was a few weeks ago and they would have said it was a gay porn movie.
Fly what you think of Morgan Stanley here.
And donny
The fucking ted spread is down there for a reason. It’s not that lending rates have gone up substantially, you homo. A great of deal of the widening has to do with govt yields going down a big big way.
So tell that to CNBC next time those gays mention ted.
Weak tech right now reminds me of how the brokers were the past few quarters. Everyone new they were going to be going down, but every earnings was better than expected.
This quarters tech earnings will still be better than they are pricing in.
I think the market is run by a bunch of pre pubescent teenagers on crack.
Please bring back the edit function, ^ knew.
http://images.google.com/imgres?imgurl=http://secretsofamortgagebroker.com/3%2520month%2520libor%2520mar%252007.jpg&imgrefurl=http://secretsofamortgagebroker.com/3_Month_LIBOR.html&h=300&w=835&sz=232&hl=en&start=14&um=1&usg=__ACS42OJrqmLsFntRA4vuy9RxO2M=&tbnid=8BueDiDQkvzdOM:&tbnh=52&tbnw=144&prev=/images%3Fq%3DBritish%2BBankers%2BAssociation%26um%3D1%26hl%3Den%26safe%3Doff%26rlz%3D1T4GGIK_enUS280US280%26sa%3DN
Any of the talking heads in our GOV look at 10 year historical 3 month libor rates? 4 – 5 % range is the norm. Shit with all the shit CDO’s one can argue LIBOR should be higher!
Buy the banks, asshats—and quit trying to figure out my interest rate spreads. I’ve purposely skewed matters to confuse the rookies. This is so much fun!
http://finance.yahoo.com/q?s=GFED
Good short. Offering 1 year CD’s @ 4.5%…Sounds like trouble.
Jake,
if you could pick one gold stock which one would it be?
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Sorry, RC, damn meetings again, this time of the useless “board” variety. (“Bored?”)
RGLD would be my “cherce” (sic) here.
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Also, be sure you jump on TSO with both feets here. Same with QLD.
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As a layman, the Ted Spread is pretty much over my head…er, wait…that didn’t come out right.
“J”
I’m not even going to waste my time with you. LOL 8)