These grotesquely deformed men are sweating in their burlap shirts, as the market slowly melts higher. What scares them is the “fuck you, you’re dead” move in commodity stocks.
As you know, people who short stocks, after the market craters 25%, are well deserving of having all of their coin taken from them. These people are worthy of insult to injury afflictions too. May their brokerage accounts go to zero and their bullshit bachelor pads be burglarized, all in the same day.
With the Fed meeting ahead, I would not want to be short equities. The text book says, we rally until the the monstrous faces of bearshitters are ripped off with old pick axes.
Also, brave men, like Vince Farrell, are calling bottoms on CNBC. This, as you know, is an excellent omen.
With my money, I am buying small lots of [[UYM]] and [[EEM]] . My cash position is still north of 20% and my gains are extraordinarily bountiful.
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“Also, brave men, like Vince Farrell, are calling bottoms on CNBC. This, as you know, is an excellent omen.”
LOL! This quote made my spill coffee all over my monitor due to sheer laughter.
I am not selling UYM until at least 30ish level from down here…
Ditto the LOL comment.
DEVILDOG now lives in a discarded cardboard box…you think it still may be burglarized?
No rate cut for you!
Now that Libor is down, and oil/gas is down, and inflation “under control” we have decided to save our bullets, sorry.
Mr Market Says:
DEVILDOG now lives in a discarded cardboard box…you think it still may be burglarized?
What ever happened to the viper?
Pretty soon it’s going to be the Dog vs the the Sovereign Wealth Funds. That’s going to be a nasty fucking train accident.
200% short sounds like a terrible place to be.
The rate cut will need to be at least 75 basis, in order to rally. A full percent would instantly decapitate the shorts. A 50 basis cut will likely invite a yawn, maybe we even close down. They need to be aggressive.
PCX- the bitch is back!
No, DevilDog will act like he sold his shorts and flipped “185%” long to disguise the fact that he has to pimp out his wife’s titty job on webcams to make ends meet. And then when we go down, he will come out guns ablazing like he was there all the time. New Script please.
and JRCC putting the squeeze on, love that coal today
First page on Craig’s “for Sale” items list: Devildog’s viper.
I put this intellectual masterpiece on the other thread. Here’s my thesis on why the US stock market will go much much higher than people think.
Pro
In the whole scheme of things who really gives a shit about Russia. The only thing we need to worry about is that Putin doesn’t turn the gas off in Europe if he wakes up pissed at them one morning…. The Frogs have to worry about the Luxury goods market not being so much in demand with the Ruskies. so other than oil gas getting pumped Russia is a big fat fucking zero in the world.
China is interesting.
The fall in stocks won’t effect them all that much because basically the average Chinese is not wealth driven like westerners in the sense of having lots of hard assets and a stock portfolio. He doesn’t have have any and is just stating to buy the shitty little apartment. What he has is income. The stock market over there is treated like a casino, so the drop is going to have zero effect on them. Their wealth is left in the banks which the government inflates away and steals it from them through inflation.
What they have is a budget surplus and a coupla trillion dollars in reserves. They will pump prime to blazes over there like there is no tomorrow. Seeing it’s still a command/control economy in lots of ways the commie fuckers who run things won’t give shit if they build a tower that remains empty for a while. So China is still going to grow even though it will be really unbalanced. Their comeuppance will come, but not now.
Seeing they own 2 trillion of reserves and have no shot of getting out, they’re fucked. the US will basically inflate the value of that away from them. Don’t think they get it yet, but they soon will and once that happens the sovereign wealth fund will be looking to escape the inflation by buying US assets such as stocks like crazy. Watch. commodity companies too as they know what end demand there is in that stuff.
Interestingly the other SOV’s will too once they see what the Fed is up to as they are all long up the ying yang in dollars.
So I actually see the SOV’s being a big bid in US stocks starting in the next few months once they get wind of what is going on in terms of the value of their dollar holdings. They have no choice as they can’t get out of the dollar as they’re too big and will lose a ton of value trying to get out, so the thing to do is to invest in the US. With that size it is impossible to get out. Watch them all scurry looking to buy pieces of large US firms. That’s where the bid for US stocks is going to come from pretty soon is my bet and in a large aggressive way.
Didn’t Vince call the bottom in July or Aug
Tonight’s guest…the story of Devildog, a trader and his father that went from s networth of millions to pennies on the dollar in a week…Heeeeeeeeeere’s Johnny!
Fly how long are you willing to stay on this commodities ride? For instance MOS, I know you rarely give targets but do you think it can get back to 40ish in the near term?
Rate cut, schmate cut. Don’t worry, there will be another scary drop in the next couple days. Soros and pals want Obama to win, so need to promote last minute fear and loathing.
This Public Service Announcement brought to you by Conspiracy Theory of the Day Foundation.
Scully
What do we do with MS now. Stay in or get out? Nice turn for the day for both of us.
Cramer…how are those sell ACI @ $16.63 (now $20.42) and X @ $30.82 (now $34.40) working for you? Also considering your bullshit gasoline-on-the-fire call scared retail investors and made them sell these stocks down to $15.08 and $28.43 respectively?
bought some C it ain’t going broke it heading back towards towards 20
I find the obsession with DevilDog fascinating. And I say that as someone who himself has caught the fever — I find myself sneaking peeks at RTH and snickering to myself. It kinda sucks that some of his recent posted trades seem to be BS. I would love to know he’s really eating these losses.
No kidding with the way the Aussie dollar and Euro/yen is bid the stock market could have another 800 pointer.
Finally read your “It Feels Like ‘02” post.
Thanks.
DevilDog was literally posting every 5th post during the crash talk. So I dont think the obsession in watching him cry at home with a blankie calling daddy for his 1.5 million is unfair. Also, I hope he did end up getting his hands on it and shorted it all.
Small fry
He behaved like a dick: almost wanting to kill people that were bullish. He was nothing other than an obsessive compulsive bear- a truly “grotesque, deformed” human.
I find it appropriate that the perma bear short DevilDog can now be reflected back as “The Devil” and longs being “Angelic”……..
whatever happens this afternoon, it’ll be entertaining as all get out
Too much Agent Orange me thinks….
Ford Credit Has Access To Fed’s Commercial Paper Plan
At the rate the Fed is going down the ratings league most of us will be able to swing a non recourse margin line with them at the discount window.
Yes, it’s true. I win again!!
what is happening to commodity stocks? all up big across the board. did i miss some kind of news?
Since 2:15 EST seems like an ideal time to sell this 1000 point, two day bear market rally, they’re probably buy them even harder.
Market trickery at its finest.
GIO
Fly told everyone they were going up so they went up. That’s all there is to explain it.
Trailing stop hit on GS. It was a fun ride for the few hours it lasted……
reloading PCX $15.40 for the next leg up
They’re putting the future inflation trade back on. Even though everyone knew the FED would take rates to 1% last week, the worry then was deflationary depression. But today they’re no longer worried about deflation, but future inflation, so commodities come back in vogue.
Typical schizophrenic behavior.
rails are acting nice here… if you believe in commodities then the rails are a play on that theme….
I suspect the FED decision this afternoon will be fairly anticlimactic…might be good time to fade it…
Gio: lower interest rates => inflation (or at least less deflation) => higher commodity prices.
yeah, i like long gold heading into the Fed. Gold seems manipulated though.
At the rate the Fed is going down the ratings league most of us will be able to swing a non recourse margin line with them at the discount window.
I for one, will be looking to leverage the shit out of my
“Fed Visa Card” for extra airplane miles.
In fact, I fully intend to quickly make myself “too big to fail.”
________
I got too big.
I still failed.
well if your HELOC’s are set off prime you nearly have free money already Jake…. Canucklehead prime is higher than yours is so the cheapest money around is about 4% up here….
someone just bought 5mil shares of ABK
RC: maybe the Fed is going to do something more than lower interest rates, another retarded 4-letter acronym program?
Ah yes the same Vince Farrell that called a bottom back in March
http://www.thestreet.com/p/rmoney/marketanalysis/10408745.html
A broken clock is correct at least 2 times a day.
Hey! I AM DD’s VIPER! Anus viper, that is.
Ass Napkin Mike swears by me!
hehehehe Marlon Brando +5
J;
I think you are right. We are the only game in town. My concern is social issues in these country’s. A lot of people left the farms for a better life and are out of work. Do they have unemployment or shit like government work camps. The fact that Putin is still pulling the strings could go either way if they terminate the fucker.
Your Post was great and I thank you very much.
FCX is a screaming buy if there’s any kind of european rate cuts. frankly, it was a buy 2 days ago, but, as usual, i’m unable to trade and missed that move. hopefully the fed here only does a 25 or 50 at most, so it will sell off a bit. if the euros followed with a nice cut of their own, it would be a 200 up s&p party, regardless of economic fundamentals.
however, i don’t think the world economy is out of the woods by a long shot. all the efficiency gains that we created in the early ’00s to raise stock values are no longer available. that boat sailed. mergers and acquisitions are our only hope for stocks to go up. that said, there could be nice gains in the large caps going forward, especially if we can ease the credit market. stuff like XOM may start snapping up smaller players.
Would someone please explain to me what the phrase, “buy the rumor, sell the news”, means?
I did some research, and rumor has it that the Fed might cut interest rates by 1% today. Wow! When did that come about, and who knew? Anyway, they’re about to announce their decision, I think today.
I’m confused. What should I do? Advice appreciated.
Thanks.
S.A.I.I –
Rate cut news will be out @ 2:15pm est.
sold PCX @ 16.25, check the chart, IMO short it for a gap down if it hits $16.50
There is a figure off in the mist – he is nervously pacing and chain smoking and …..wearing a tall pointed hat. Yes, Merlin has decided to do the perverse thing – tank the market after a rate cut.
SHORT the Fed.
Market took 1000 points pre-Fed rally. This is going to be an easy fade.
Once the selling commences — there’ll be no buyers here — why would there? There’s a 1000 point gap between today and yeseterday.
Thanks, DMG.
That means keep buying (?), I think. I don’t know.
Still confused.
Thanks, again.
Now, what rate are they cutting? I forgot.
I am NOT DevilDog, nor would I want to be.
FLY, are still planing on taking profit on MOS at $35
The last time I lost money like this, I took it out on some poor unsuspecting hot chick.
the person above isn’t me, i’m ever so slightly long into the rate cut.
Looking at the day chart for the Dow, it is set up to tick the top of the channel around 2:00 or so and then head south towards the lower channel line. If it stays in the channel is anyone’s guess, mine is that is breaks through it slightly and closes about 20-40 points up for the day. Tomorrow’s GDP numbers will be released and any component can be used to justify an excuse to give back a lot of yesterday’s gain.
JMO.
me too. Exciting, isn’t it?
Fly, nice call on X … I bought that drip, much to Cramers chagrin.
Jake, with your personal stash of shiny metals, you are already Jake “Too Big to Fail” Gint. Can I be your assistant when you start running the Gint branch of the Fed?
will I regret asking what “mudkips” are?
much as I hate it, thinking about shorting here, Costanza style, maybe AUY.
yes you would regret it:
http://www.encyclopediadramatica.com/So_i_herd_u_liek_mudkip (NSFW, NotSafeForEveryone)
It’s from a 4chan copypasta.
I threw out my Bloomberg and Reuters and Cnbc and Cramer.
All I need is the FLY.
The Fly is God!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
It takes all kinds….
The charts say: up, up, and away.
I’m skeered!
You betcha, apparently I do like mudkips haha.
Damn, do I live up to my name or what?
Come on now, we need a monster rally!
Death and destruction coming our way!
0.5? fuck this i’m all cash.
is this the headfake I was reading about earlier?
Tug of War started, who will win today?
funny boca hehehe
the meadows are alive with prancing bulls, while us bears wait in the woods. enjoy your dancing and rejoicing. My crystal ball still says november fucks you all. economically and election wise. Then I will shit into your dehorned skulls.
I am keeping a tight ass leash on MOS, they could sell that shit off 30% the way things have been going. Fucking retards out there.
Crap. I bought some stocks just before the announcement. This sucks.
what is it they say about pigs getting slaughtered?
Trimming 25% my longs for hopeful pullback re-entry…….
like to see the market consolidate yesterdays gains for a few days…then next week take the first push at the Oct 14 th highs.
The short term trend change is confirmed when the markets regain the lost ground from the 14 th….
follow the XLE that is what is going to be taking the markets higher…by extension follow XOM…. its the largest weight in the DOWager and The Spoo
XLE broke it’s short term trend channel to the upside today and looks good for a trade…….