What a fucking market. The commodity sector is meeting its maker today, with massive losses in everything from fried rice to oil. I am having my balls set aflame in National-Oilwell Varco, Inc. [[NOV]] and The Mosaic Company [[MOS]] . The only good thing is my cash position, now currently at 65%.
However, the mess in NOV is really starting to grate me. The stock does not belong here. But what do I know? Maybe the CEO of the company got caught with a hooker, shooting up heroin in some third rate hotel room?
All I know is the market cannot be trusted. BIG FUCKING SHOCKER.
Hey, I got some advice for you stock market junkies: throw your money into a fucking barrel of flames. You will enjoy it more. This method of capital destruction, via the internet, is entirely asinine. At least when you can toss a few million into a flaming barrel of garbage, you might get to enjoy the warmth of the excess energy, before some homeless guy stabs you in the neck for taking his barrel. On the internet all you get is big fucking zeros.
With my money, I am not touching this piece of shit market. I have too many gains to fuck around with asshole tapes, inside a failing banking system.
However, knowing me, by the end of the day I might nibble at a thing or two.
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WFC hitting highs of the day as I type
RF is hanging in well.
SOmeone is going to make an offer for them soon.
CANNED CORN FUCKER.
Fly-
Agreed it is a fucked up market. But, being that I am equally fucked up I am considering DIG here. You?
Fly – Thanks for putting the fucktardedness into perspective.
I think we end even taoday. Big Ben will hint at a rate cut and the market will bounce.
I’m beginning to agree with Donny. The 3 month is a tell and until it begins to unwind the bias has to be down.
I have an old CRT monitor, it provides plenty of heat, radioactivity not withstanding…Can anyone provide the US percentage rate of consumers that have credit score over 700?
Did the TIme Machine end up in the ditch?
OIH = play of the day
I sold DIG like 12 points higher yesterday.
Nuts!
Buying 500 NOV, because of this post.
I will scale in, this is my first chunk.
God bless mushroomz.
I have a gagillion dollars in cash. Somebody make a bull case.
Quick.
WTF is up with NOV ?
Buy NOV right now FLy. P/E of 7. no bullshit retail or tech stock, real world real economy stock. cant go wrong
Bull case is if we break to the upside, a higher low will be proclaimed by some technician somewhere.
SRS here?
My bull case is this:
We all know the markets are crashing….why not buy?
We did a 50% retracement from the lows, it’s time to be bullish.
Oh shit, run.
Here comes Merlin.
Bull case is there is an enormous amount of cash on the sidelines.
Napkin, that was a lovely case, very moose knucklish, LOL
I’ve got a brief case made out of a bull. Horns on each side too. I gouge people with it whilst I’m walking downtown. Some people call me Don Gaucho. It iss one way I leave blood in the streets
NOV is low because people are pricing in the collapse and destruction of businesses, complete failure of companies dependant upon oil, and large taxes eating into oil companies profits, and the next president looking for energy independence. The market seems to think that oil is going to hit below $20 a barrel… Maybe it will.
Bull case is there is an enormous amount of cash on the sidelines.
Fly’s by the sound of things after the past few months trading. the market would go up 670 points if he went fully invested.
That serves you right for spitting on my blog!!! Now continue to get ass raped while we continue to bank massive coin!!!
I completely concur with Fly, make small bets, and build on those bets if they start to work in your favor … look for extremes. No time to be a hero … This market will rip your gawd damned spleen out via sphincter exit.
Gotta get me one of them bull cases.
Go fuck a hungry lion in the mouth, Tim.
http://www.theguyfromboston.net/Rant%20Pages/Tree%20Huggers.htm
Fuck this market.
Must say the market looks like absolute shit. There’s no bull case because there isn’t one.
Whatever. I’m choosing to ignore this reality. The stock market is just plain wrong.
All computer monitors will be flipped upside down. There, that’s better.
haha, I had some “fly like precision” yesterday. I bailed out of FCX at about a 10% gain and bought FXP @ 89. I knew something was a miss about yesterday.
Went ahead and open a position in MOS in the 34’s.Looks damn cheap at these prices.
Bull Case? I looked in the beer section, I don’t see a bull case. Lotta bear claws hanging in the beer cooler though.
we have jobless claims in the morning. This might be a run down to those numbers.
bug fucker:
We’re moving the 8% unemployment. Is this a huge surprise?
I concur, neither claims data or employment reports have moved the market in a long while. It’s just Ozark’s retards playing with dynamite. Just think, once they blow their arms off they won’t be able to sell/buy.
Let’s get it over with. May the GREAT DEPRESSION, the sequel, BEGIN.
There have been been 36 days in the last 80 years where the S&P 500 has climbed more than 6% in a single session.
Of these, 32 occurred between 1929 and 1933 with 12 occurring before the bear market hit rock bottom in June 1932.
The four 6% plus days not in the 1929-1933 period occurred after the 1987 crash, two days in the late 1930s and this past Monday’s blockbuster +11.58% gain.
Revenge is a dish best served…
…OFF THE BUMPER OF MY CAMARO, YOU FLY FUCKERS!!!
bullshit fly.
We’re not moving the another great depression
Benny B started in speech and we start printing the lows. Fuck this shit.
Fly,
does that mean we start to short?
If it breaks down much from here then look out below.
Ozark, Who is left to sell?
Bernake makes me nervous.
where is that bald guy who kicked ass on Monday morning..the assistant treasury guy.
Bernanke is a train wreck
Yogi, it has finally slowed down enough so that I can pay more attention to the market. I am tracking some of my new retards’ accounts, and they really are getting blown the fuck up, even the ones who bought “good” stocks.
Revenge is a dish best served…
…OFF THE BUMPER OF MY CAMARO, YOU FLY FUCKERS!!!
LMFAO
“Fuck this market” 🙂
Ozark – Thanks. That makes perfect sense.
Barclays gets unwanted Lehman assets due to Excel error-Finextra
Barclays’ (BCS) law firm has filed a relief motion asking the US Bankruptcy Court to exclude 179 Lehman (LEH) contracts from the purchase deal that were erroneously included due to a Excel spreadsheet error
Those Redmond nerds found a way to fuck the fucked
For you fuckers who just can’t resist … go buy shares of PFE.
That’s some funny shiet needle dick
Right. The bald guy was great. Wall Street at its finest.
This Bernanke guy is a nervous nelly.
…OFF THE BUMPER OF MY CAMARO, YOU FLY FUCKERS!!!
(I have to admit, that was pretty funny.)
The Devil Dog Bottom is in!!
________
Even the prison ho’s feel cheated in this market.
Watch “The Beard” Live: http://www.cnbc.com/id/24596546
Unfortunately, that was not the real Devil.
He has not recovered since the 1,000 point melt up on Monday.
My guess, his account is negative 300k right now.
Professor Bernanke just repeats himself. He really should just light himself on fire on live TV.
That might get wallstreet to rally.
PS. Did that dick just mention inflation? Huh?
2 words, my friend. BIG BAMBOO!
Tim Knight is putting a quarter-million bucks in SKF. So says he. Can’t understand the rationale but this guy has nailed the market to perfection.
Wishful thinking makes me hope Tim gets clown-raped in the next few weeks.
Devildog went through a neutering procedure Monday and is resting comfortably.
“DEVILEDEGGS?” Hello?
Do you think Dog is going to be making with the jokey-jokes when he comes back?
He’ll also be taking questions from the Hair Club for Men.
Shedder … right-O. High five to you … BIG BAMBOO was on top of this shit!
Buy SKF in size – you got 20 points downside, 100 up
hahaha @ humane society
Shed, any updates from BB?
The only bullish thing I can think of is that oil is dropping so low, that chemical products made from oil will be cheaper to make… so Dupont or 3M for the long term???
or, is there a company that makes flame proof mitts to assist in grabbing your ass when it’s on fire?
I’ve given up on NOV (a long time fave) right now, a week or two ago I saw T Boone Pickens on TV, he was saying if the price of oil continued to go down “they will lay down the rigs”. I believe he’s correct, and imho that’s what is making people run from NOV. The rigs are a cyclical business no??? (many moons ago ex-hubby worked as a machinist at a company making rig parts) and I remember the boom/bust cycle well.
not to be an alarmist but this market is in a precarious position … we are very close to systemic meltdown where there are no winners, long or short…of course mucho better to be short in that case … but this is really bad .. not sure the powers that be can do anything
I’m hoping for a save here but I’m concerned to say the least
I sold my puts on the Q’s this morning, nice overnight trade, all hail the Big Bamboo trade! (It’s about the only thing I got going on…)
Ben needs to shut his beard.
humane society… lol. Deviled Huevos!
Your Flyness: You and TK both ad value which is why I read you both. Occaisonal humility can be ingratiating. Point up – TK.
Another bullish case….the market seems to be consolidating monday’s huge move up……
Go with the flow – I just look at my SDS and its pretty green color and ignore that ugly red stuff. It is a bear market and trying to be cute by catching bounces is a tough way to bank coin, no?
Bullish Case:
Most sellers out of the market
Lot’s of money on the sidelines
Valuations at these levels, may, be reflecting a deep recession already.
DevilDog is bearish.
Bear Case:
3 month treasury is still reflecting a great amount of fear.
Economic conditions may be worse than expected?
More Bankruptcies ahead?
Anything else?
Yogi, Personally I want to buy stuff now. I am dipping my toes in the water. But I do see the demand for dollars, not to mention outright fear, outstripping the ability of bulls to rally for long. There are still lots of retail customers wondering what the fuck to do, since the talking heads on TV have given them such bad advice. Wall Street must keep the public involved at all costs in order to unload stocks. The real question is: Who is left to buy?
As a positive, and I am half serious, is that Mercury is going direct and we just had a full moon, which probably marked some sort of culmination in the emotive aspects of the past two weeks trading. Maybe the next couple of weeks will see a ramp down in the tension, and even if we put in a new low, perhaps the emotional atmosphere won’t be so crazy. LOL, maybe more rational selling.
Countme in the camp who went long big this morning and racked up some monster losses.
We should all just go short… Back to the stone ages here we come.
On September 18th, there was fear of a meltdown during options expiration week. Again, we were pulled from the brink. This week, options expiration week, has no such outcome available. The rally was too small and too early.
The SPX must be at 1200 by Thursday afternoon to mitigate the exposure to the options chain. I believe that the options sellers got a whiff of fear last week and, with the help of the PPT, staged a rally in which they could recapitalize their book by buying calls for pennies and selling them into the rally.
Now that they are recapitalized, they can buy back the put contracts or Gamma Hedge by selling the SPX short to reduce their exposure to the huge overhang of put liabilities. Wall Street will win this one again. Investors will lose, big time.
Go short, young man, NOW!
I did say buy SKF yesterday…
Pull the handle fuckers the FED is the house money. I’m starting to think gold.
If the CEO of NOV has done such he should be elected mayor or govenor somewhere.
I’ve theorized for awhile that one of these times the Fed would not be there to save the day right before options expiration, and the result would be magnificent for us Road Warrior types. But having been burned before, I am holding off. Fuck it.
Oh yea I forgot [this is with the PPT pumping the market during Benny’s talk]
Bob Pisani just stepped on his dick. Cost of production for Saudis and Hugo 85 bucks a barrel.’
Bwhahahahaha what a turd.