It really is the end of the world. Today’s failed rally is so funny/hysterical, I am doubled over in uncontrollable laughter. True story.
What a crock of shit.
Again, can Morgan Stanley [[MS]] and Goldman Sachs Group, Inc. [[GS]] just get it over with and file for bankruptcy protection? Buying [[UYG]] was a mammoth error, on my behalf. However, the good news: I didn’t buy too much. But still, come on, the world markets soar and we can’t rally for more than 1 hour. How pathetic is that?
Even if we recover today, the damage has been done.
With that in mind, I find little reason to believe the Dow will hold 8,000. Hell, with all the fuckfaces out there getting panicky, this fucker can nose dive to 5,000 and they’d still say “we need a bigger flush out.”
These people are fucking idiots. They were idiots when we were going up and they are idiots now, as we go down.
With regards to the Fed:
It really doesn’t matter what they do. They can only hurt us at this point. If they cut by 50, the market will yawn it out. If they cut by 25, the panicky morons will use it as another excuse to sell.
So, just to sum things up:
The world is going to explode and your portfolios are going to zero. Which one is worse?
NOTE: I am long National-Oilwell Varco, Inc. [[NOV]] , The Mosaic Company [[MOS]] , [[UYG]] , [[DIG]] , [[ROM]] , [[M]] , [[EEM]] and many other stocks, with ZERO intentions of cutting losses or hedging. Gentleman/asshats: this is “Titanic Trading” and I am your captain. We are heading for some white matter in the middle of the Atlantic and I have no interest in dodging it. We have a limited amount of life boats, so act accordingly.
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Fly I agree on the Fed.
They can’t control LIBOR and that’s what all these ARM’s that are adjusting are tied to. If they cut to .50% then we may see something big happen
I want to make giant smores when the world explodes.
Fly doesnt believe the rally….
Up 717 today!
THIS is either the double bottom folks have been asking for or the end of the world.
You have to nibble at stocks today…. save lots of dry powder but you have to nibble
Look at a fast food place like Jack in the box (JBX) 6.5x earnings double bottoming today.
Look at crown holdings (CCK) – can making company with cash flow yield of around 14%… or better yet it’s U.S. focused peer SLGN.
For the record:
I am NOT hedging. I AM going down with this fucker. You get to see “The Fly” unravel, live, should we nose dive.
I still have 25% cash and I will use it to buy, when the Dow hits 1,000.
Jason Goepfert
11:05:01 AM
No positions in stocks mentioned.
Lack of Confidence
The plunge in Consumer Confidence is getting a lot of attention, but it might pay to step back and see what that has meant before. The previous troughs in Confidence were in December 1974 (43.2), May 1980 (50.1), October 1982 (54.3) and February 1992 (47.3). By six months later the S&P 500 was higher every time by an average of +21.1%.
On the other hand, Confidence reached its all-time high in May 2000 (144.7), and October 1968 (142.3) prior to that. You wouldn’t have exactly been happy holding stocks after those instances…after a year, the S&P was down both times by an average of -8.8%.
“The world is going to explode and your portfolios are going to zero.”
True that. Also:
The cheque is in the mail and I won’t cum in your mouth.
Feel free to add on-
Its all good to make a stance and show ones true colors and stand up to the challenge of mother market and all that.
But what is the point you are trying to prove? That you can lose money as good as Bill Miller, or that you and Warren Buffet are good market timers ?
Up, Down, Up, Down, Down, Down, Down, and more Down!
Important Note added to post. Sort of a financial suicide note, mind you.
GS and MA are fucked. Won’t be able to lever up on their prop desk anymore = less profits. Buffet and Mitsubishi are losing their asses. Of course Buffet is getting a deal if they can pay the dividends
the fact that we can’t hold a rally makes me bullish.
The true Fly move would be to incinerate all the life boats.
up, up, down, down, left, right, left, right, b, a, start
Fly:
It’s the close that everyone watches. No one outside the US gives a shit or even looks at the intraday gyrations. How the close goes is how the Asians will trade and so on.
I dug myself out of a fucking hole that started yesterday only to dig another hole that was deeper this am.
I finally decided to dig down, to China, and broke through to polluted Chinese daylight.
Break even on the day.
And
I
Am
Done
Stocks suck my ‘taint.
Damn, I can’t swim.
Fly — I think you’re right — just need to take the volatility.
When GS / MS became banks — they shut off the hedge fund credit. There are 10,000+ douchebags that MUST sell at any price to deleverage.
You are right that MOS — for example — will be rolling in FCF for years — they could go private for $50/share in 2 years — that’s worth buying now. The only ones who get this price are those that have any REAL cash left. And that’s just you a few other traders — most of whom are 99% cash and shitting themselves.
Consumer confidence at a 40 year low. Christ — I really don’t know who else hasn’t sold already. The hedge funds screwed themselves because the rewards were great (2 and 20) and the losses were OPM — so it HAD to go down this way.
I am slowly buying in with longer term money. MOS could indeed go to 10 – -but not for long. Forced selling is providing an opportunity of a lifetime but it has to be undertaken with an investment perspective now.
When the forced deleveraging stops — the sale will be over. But maybe we can get it for another 10% mark off.
FYI – Amazon has the new Snow Patrol album (today is street day) for $3.99, digital mp3s.
http://www.amazon.com/gp/product/B001IXQDTU/ref=amb_link_7772422_3?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=browse&pf_rd_r=0FG6DA3951TPAF6T1M34&pf_rd_t=101&pf_rd_p=456183201&pf_rd_i=163856011
The dollar is dictating all commodities, most large financials, commodity stocks, and now the indexes. Everything is moving inversely.
http://finance.yahoo.com/q/bc?s=DX-Y.NYB&t=1d
It’s been that way since Sept 15th. If the Fed does not weaken the dollar, we’re done.
Donny buys DUG @ 54.25.
Crude to .01, the Dow to 1k.
Fly,
What do you think of UA down here?
I’m long CIT @ 2.98, taking on water (no life vest)
The sellers’ pimp hand is strong.
Bombay stock exchange was open for just 1 hour today and it closed up 500 points. That shit is more ridiculous than anything going on here.
They will be eating the rich soon in India.
Ditto for China.
Delicioso.
In the movie Titantic, Jack’s last image was his beautiful girlfriend Rose…My last image gets to be Dennis Kneale saying it ain’t a loss if you don’t sell…cruel fuckin’ world
This is piker Volume – I’m going to go run a couple miles on my treadmill until the volume picks up
I’d rather buy M, than UA.
donny is a stupid coward and a pussy.
DSB isn’t that a street fighter code, lol.
Bitch of a whore, I am up today. This is unacceptable. I want to be down.
This market isn’t gay, oh no, it’s downright fucking queer.
“mammoth era”
I thought that was 10,000 years ago. [grin]
Should see selling pressure into close. 70% of mutual funds have YE 10/31. Today is the last day to sell and not have a position show up in YE reports. Sell it today, it settles on Friday. They’ll be blowing out every dog possible so as not to show in YE reports to shareholders that they hold the massive losers.
On the lifting of mutual fund selling after today, tomorrow should see nice upside.
Correct.
I just ordered my trader/servant to punch holes in the lifeboats. You fuckers have nowhere to go, but sea worthy.
Full steam ahead!
Buying (UYG: 7.38 -2.77%) was a mammoth era, on my behalf.
Don’t you mean mammoth ERROR.
Is it true mutual funds have till end of today to sell and not have position show up in YE reports or is Eye No Stuff full of shit ?
Master Fly, tell us a story from your 2001 bottom picking endeavor?
This market is run by blind retarded monkeys mashing buttons while eating bananas.
Cap:
Thanks. My brain is fried.
I will tell of no such stories. I hold them near and dear.
Maybe later.
Dog:
You’re uncontrollable when the market is green. Stop barking at everyone and settle down.
someone get a muzzle and put the pooch in his kennel.
To those of you still doubting the outcome of the election, consider: Fort Collins is a remarkably purple city – lots of older Coloradoans, cowboys, and gun lovers as well as many environmentalists, outdoor sports enthusiasts, and students. We have a population of 128k. 50k showed up for this rally –
http://www.youtube.com/watch?v=Q6mTs3AsuGU
I was there, and the masses were filled with a positive spirit of progress that rivaled the Hale Bop comet cult. Rest assured, confidence will jump following the 4th. This will be the icing on the market cake following the higher moves coming this week.
If the dow nose dive to 0, I suggest an investment in guns and some sort of truck that has no problems driving over audis and beamers. Because, all that money you make shorting the market will only be good to start fires. Luckily, McCain will start WWIII to simulate the economy and reduce the population.
When you give up all hope, it can be very soothing. I can just relax and watch MOS drift lower in peace.
MArket is going to do ok today. Two markers for liquidity/investor tension is the Aussie and the Euro/yen. Both are up.
The Aussie central bank intervened and turned the Aussie around, There were a great deal of rumors that the Bank of Japan was in the market this morning buying dollar yen on the QT.
If these two gals hold up it could a decent close.
so does Palin know what the vice president does yet? You can’t make this stuff up!
ALL YOUR BASE ARE BELONG TO US
“The Conference Board said its index measuring consumer sentiment tumbled to 38.0 in October from an upwardly revised 61.4 in September. That was the lowest reading since the index began in 1967.”
What the correlation between consumer sentiment and the market. This 38.0 reading might mean we are at a market bottom no ?
I spoke to some retail investors this weekend and they had all pretty much sold out of their 401ks and into cash. They tried to convince me that we are entering a depression. The pessimism was very apparent. Sort of got me worried about my short positions. Maybe I will cover sometime this week and go long.
any thoughts on ENER? this thing popped like crazy and now its back close to its 52 week low…
The market will not go higher, without MS and GS.
We can only pray for a stealth bull market to emerge in utilities, in order to capsize Dog.
SHORT RTH @ 68.68.
Short AAPL stop at 94.8
Volkswagon is more expensive that XOM, rightfully so!
Auto maker. That makes sense.
Zen, I’m no Palin fan, but even she hasn’t said something this stoopid:
The most important function of a vice president is to serve as a spare president. Using the spare president in the ordinary course of business is as unwise as driving on one’s spare tire. Spares should be kept pristine, for when they are really needed.
–Glenn Harlan Reynolds is a professor of law at the University of Tennessee.
http://www.nytimes.com/2008/10/27/opinion/27reynolds.html?_r=1&ref=opinion&oref=slogin
Nice reverse play on the pikers “Fly”.
what happened with VW? did porsche buy them out?
“The market will not go higher, without MS and GS.”
why do you say that fly? why not.
Fuck you Freud. Pervert.
BTW, you stupid bulltards holding your losing long positions waiting for the FED to save your stupid ass are DEAD! The FED is DEAD. The FED is the lying private central banks and everyone knows thaey are full of shit. bernanke will be retired back to academia to teach 2nd graders their ASCs where his corrupt ass belongs. paulson will be a janitor at gs. buffett will be a hotdog vendor in a speedo on miami beach.
Because MS and GS are “too big to fail.” Any panic within those shares will fuck with investor sentiment.
MS has loads of counter party risk in the oil space. Lots of companies have hedges via MS.
Nov 5th will be when the market pulls it’s thumb out of it’s ass and starts trading rationally again. All the douche-nozzles running around on the trading floor worried that Pres Obama is gonna raise their taxes and regulate shit so they won’t be able to leverage up on hookers, blow and lambo’s as much will finally see that maybe some competence and a cool head is what we need to turn this fucker around.
Until then, coke, whores, coke-whores, and lambo’s for all!
sorry, but that still isn’t as stupid as Palin, even worse, she is running for VP…now that is comedy!
Dog:
May you twist in the wind, just prior to being hit with an anvil.
All you idiots buying MOS and making price predictions, i have not ONCE heard any of you sleazebags mention that Cargill owns 64% of the shares. Do you guys even pay attention to shit like that?
It won’t be forced selling that takes it to $10…in all likelihood, they will cajole the price much lower…. then offer a “premium” takeover offer at $12/share and take the thing private. Good luck with those Delaware appraisal rights.
2 Public announcements:
Kill the BULLS!
DevilDog, stop tea bagging Larry Kudlow, and start thinking clearly!
SDP to the MOON Alice and my account. HUGE $$$s!!!
But VW is using the money they would waste as dividends or survival cash to buy up their float. Exec options are now green, too, tho this is purely a coincidence.
So VW>XOM
And CROX>VW
kudcrap is the biggest supply side trickle down elitist on the planet. I hope the mob kills him first.
TP:
You’re a fucking idiot.
Parent companies DO NOT sell stakes in the open market. How stupid are you? Let me guess: really stupid.
It is cheaper for them to buy MOS now, than to drive shares down. Or, they will sell MOS to another company.
The shares will not hit the market.
DEVILDOG:
The Captain of the SS Titanic would like you to join him for a glass of brandy, below deck.
What time does Europe close ? I thought their trading ends at 12pm EST.
When I need a laugh, I look at the daily chart for VLKAY (ADR for Volkswagon). DAX up 9ish% mostly because the high short interest in VLKAY (after all it is a car manufacturer) along with Porsche keep raising its stake in VLKAY, the shorts are now impaled on the rampaging bulls’ horn. Hilarious price action.
Breadth in the US markets today started off strongly in the bulls’ favor, and then slackened off, slightly skewed to the bears at present. However, the majority of sectors are heftily green; TNX being sharply green is pointing to the flight from safety, rest of the market will just have to pull up the bleeders: XBD, SHB, OSX, and RUT.
Any rally is meaningless until the three-days-long consolidation is broken to the upside decisively. Until then, go eat a sandwich.
Euro time is off by an hour.
1pm close.
Meant XHB, not SHB.
DEVILDOG, get your 185% milkshake ready, I’m coming over to drink it all up.
I believe FLY can fly – out the window of his cheese maze cubical – SPLAT !
How many floors up are you?
Sorry Michelle, the damage has been done.
I bought SHB because of your post. Now you will pay.
DevilDog … you stupid fucktard. I knew that Larry “AssHat” Kudlow was a cocksucker last October, when I was buying SDS & DXD in the 40’s.
One more thing you fucking cum-swallower. I have made egregious sums of coin since last October … I’m not new to this party, you FUCKFACE!
donny you’re a coward plain and simple. People like you are why this country will fail. If you only figured things out last October you’re a stupid idiot too. So suck my big dick mamma’s boy.
Would someone please give me the fundamental story behind shorting utilities at this point in the economic cycle?
Oh boy, the felon martha is coming on POWER luch. Time to rally bulltards!
BOOOOOOOOOOOOOO-YYYYYAAAAAAAAHHHHHHHH
Jim Cramer Blog
No Relief From This Wicked Market
By Jim Cramer
RealMoney.com Columnist
10/28/2008 11:59 AM EDT
URL: http://www.thestreet.com/p/rmoney/jimcramerblog/10444613.html
Why can’t we rally? When I look at how much we are down, it is staggering that we can’t rally. We have been hit by an endless series of program sells and redemptions, but when Goldman Sachs (GS) is able to reverse and the whole market was focused on Goldman, we are entitled to a good day, a day that’s up 300 points to make up for most of what we lost in the last two days.
Of course, I don’t want to rally. I want washout, capitulation and bargains. I don’t want this endless “today’s the day” analysis of the big rally. And I don’t want false hopes.
That said, we have prices for companies that would make it so that anyone looking for an acquisition — and surely someone must — has to be salivating. It is true that orders will be canceled in infrastructure, but not as much as is reflected in the stocks.
It is true that oils are awful, but it is much cheaper to drill on Wall Street than in the ground, and those all have capital.
The fact that Embarq (EQ) got a bid and the Boeing (BA) strike might be ending and the foreign markets did well entitle us to a big up day. The mark-ups assure it. And a big up day might make funds of funds reconsider their redemption requests for a couple of days.
That’s worth waiting for, now that we know that Goldman won’t be folding its tent any time soon!
Don’t count out the consumer!
i love that they’re bidding up bidu by 10.
OK, OK, OK….Enough with the Yahoo message board language!
skip to :20
http://www.youtube.com/watch?v=b6qkeB6LtIE
Will someone coordinate an official caged Death Match of:
Donny VS DevilDog
Two man enter….one man leave
Oh yeah, make sure to slip Donny a weapon just to assure the
favorable outcome….
NEW RULE: Anyone who attempts to degenerate the threads on this site to the point of Yahoo message board material must go out to Palo Alto and lick Jerry Yang’s balls. Two times.
Soon we will be receiving spam text messages for penny stocks such as C, MS, DRYS, FCX etc.
Odd, No.
JNPR has put in a nice double bottom on the daily, all in.
Donny
Tell the dog how you really feel and don’t hold anything back this time.
WTF?
XLF +2%
UYG -1%
im convinced the market is attempting to discount the Obama presidency and his anti-business and anti-capitalism agenda
In the end, if obama actually does win, we go down hard next week, in my opinion
Currency crashes coming soon…
Jim Rogers is laughing right now with me over a MaiTai…
DEVIL , DONNY , Hug it out bitches !
SHORTING RTH again at 69.
SHORTING SKF again at 173.65
DD, stop fucking around with your 100 SDP shares and come give me a rim job.
Devil,
Your playing the obvious trade that’s baked in…..
No death match between me and The Dog. I actually like his spunk, though he needs to tell his wife to watch the fucking teeth … it puts him in a bad mood!
RTH SHORT @ 68.88.
ALLPROz, no you’re doing the obvious FED trade.
FLY,
Short SKF sounds logical with a 185 stop…ouch!
Expected rate cut is also baked in…I’m thinking more macro….
SHORT RTH again at 69.18. THANKS!
Dog
How margined are you now.
Damn Schwab. Quotes are screwed. They show UYG green, and event possible only in an alternate universe.
an event
Damn head cold.
SHORT more RTH @ 69.45.
ott – Yahoo has UYG@$7.67@1:10pm
Schwab blows
Fuck the Auto Industry
Fuck CNBC
Fuck Charlie Gas-bag-arino
Fuck the Market
Fuck Money
Fuck Everyone
Let all make a pack and commit suicide (same time/same day). How dope would that be if we all got dressed up in a robe with sandles and od’d on pills in our bed. When we are found we will have an ibankcoin t-shirt on and a letter from The FLY.
Waco style.
Anyone in?
(AMEX: UYG)
NEW Real-time: 7.68 0.09 (1.19%) 1:11pm ET
anyone else see that yen creeping up?
Anton, it was a jo…hey! Put that damn quarter back in your pocket!
Careful DevilDog, your climbing a slippery slope with your stubborness….
I mean down?
SHORT more RTH @ 69.67. Love this stuff!
What are you doing Ants. Express yourself and stop using coded gibberish.
———–
Cap:
get ready to give yourself a blowjob.
SDP has a bit of a liquidity problem. Last trade almost 2 hours ago. Yikes.
DD, You added to your short position on a 30 cent move in RTH. That’s highly fucktarded. You suck my man.
Oh Devil, i am so ashamed of you. I only wish you had died of syphills on the Ho Chi Min trail.
Cap:
get ready to give yourself a blowjob.
J, Why do I have to give myself a blowjob ? I offered to eat my cock if we close this week above 8900 on the Dow. Still winning. I might even lower than target to 8700 just for fun.
Ott – Quotes were fucked up early this morning. Trying to work and read iBC.
___________________
j – I’ll stop talking in coded gibberish (English) when you stop talking with that ghetto British accent (Australian).
We haven’t had our 400-pt swing yet today.
We need to drop about 320 or go up 150 from here.
oh no!!! aaahhhhhhhhh!!!! Not the knife, no, not the knife!!!
Dog, i would cover rth above 69.90
Ho Chi Minh trail “joke” was over the line.
I’ll eat that for ya
The fact that eating your own cock became a voluntary part of any equation is troubling regardless of the outcome…..
Cover RTH short at todays high DevilDork
MSO should be a penny stock me thinks……….
Rest assured, confidence will jump following the 4th.
Sounds great for the makers of Birkenstocks and hacky sacks, but what about the bulk of the productive economy?
____