ROFL@ the “jobs market.” We’re now at 6.5% unemployment, which is the peak of the last recession. In other words, when it’s all said and done, most of you fuckers will be “tin cupping it,” in order to pay for your gas bills.
I always say: let robots work: fuck people. Really, if we could program robots to perform low-end tasks, such as dishwasher or waiter/waitress, the country would be better for it.
Or, we could just elect a fucking robot President. How cool would that be?
I have meetings to attend this morning, so I will be out of pocket. But, seeing the early action, I almost regret having to meet with this fucker. Nonetheless, [[FXP]] shall and will be bought on this asinine gorilla drop.
My gut says we go higher today, despite abysmal news. However, I cannot vouch for Monday.
Ideally, we gobble-gobble higher, all the way to Thanksgiving. If we get going again, I will be quick to cover my shorts/sell inverses, and get long. So, don’t be surprised by anything that I may say or do.
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New lows before T-Day.
Its a tough call here .. maybe today is up but I think we may have to have another look at the lows next week before any Costanza rally can have some real legs.
who knows .. but it’s bullish that china did a 6% reversal off its lows in the face of obvious US gov fuckery with #’s.
DevilDog .. whats your call on today?
Let me guess:
WE’RE GOING TO CRASH!!!!!!
Meeting with HR regarding severence packages? Hmmm?
Dog
last time you made a prediction you got taken away in a stretcher and put on life support. Stfu,
any thoughts on the obama press conf today?
maybe more toned down talk about cap gains taxes?
could affect the market today
Yo Fly,
Are you buying FXP down here?
It’s funny, on CNBC they’re talking about what type of recession we’re gonna have.
DD-
I’m shocked! You have a child in collage? WOW.
British Airways had a pretty decent result under the circumstances and its guidance going forward was also pretty good.
The dog’s predictions should be faded.
WTF
No. The last thing they would be fucking talking about is CAP gains taxes. It would spook the market when there is no need to as there aren’t any fucking gains to the tax so the point is pretty moot anyways.
They will be very soothing.
Rubin’s advice would be not to scare investors especially overseas investors in order to fund the deficit.
Rubin was very bond market focused. He believed that if the bond market is behaving you get a second term.
They don’t just have domestic investors to worry about now, the external deficit has to be funded so they need to be pretty nice to everyone as the fight for the second term really starts now.
Crude is gonna get gang banged soon. It’s gonna visit the 40’s before year end. It’s gonna bankrupt half the gawd damn energy complex.
With the PPT being the only large buyer manulipulation is the major mover. Manulipulation only lasts 10days to 3weeks. To me the next move should happen within the next 2 weeks. Only 1 of my 3 major indicators is at the buy signal. This could change any time even inter-market. They are all close.
DOWN, however, maybe not BIG due to the timing of the Obama press release at 2:30 PM EST which of course is when the stupid money managers always push the buy button. Actually, I don’t care what happens as my work says we hit new lows next week. I have a target and when that is hit I’m covering everything and going to all cash. I then leg in long for the bottom off the intermediate low and ride the B wave then 200% SHORT for the BIG C wave DOWN to the real bottom in at least late 2012. I’m not day trading. I’m only positioning for the BIG cycle moves and those will be my entry and exit points. Some of my accumulations go red for awhile, however, I don’t care because I know they will end up BIG green. The long, long term is DOWN. As long as I’m positioned BEARISH I’ll be making money for a long time. I don’t care about daily or weekly moves due to all the “it’s priced in” or “the market looks ahead to the recovery”(what happened to the 2nd half “08 recovery that we rallied on earlier this year…duh). I expect the same bullshit in early ’09 that will be the catalyst for the counter-trend B wave. Of course, there will be no 2nd half ’09 recovery and we will cascade DOWN for a couple of years after that 2nd bullshit recovery doesn’t materialize. After that the cascade down will rule as even the stupid cows won’t believe the next bullshit spin about a 2nd half recovery in ’10. That’s my plan and I’m sticking to it regardless of the bullshit that spews from the mouths of lying greasy new york scumballs.
thank J.
yeah, everything up to this point HAS spooked the market.
so any sublte change or soothing comments would be recieved well by the markets.
thanks
It’s not the administration to be worried about, we need to worry about the fucking trogs in Congress. That’s where the real fuck up will occur and the question will be whether the new administration will stand up to those fucking lunatics. If it’s seen that he does we should be ok.
At least he has a plan.
A buddy who works for COF out in Kansas called me last night. They’re closing down the finance division out there and 500 jobs just went *poof*. The last day for most of them is December 4th. Merry Christmas.
“At least he has a plan”
That was supposed to be for something else. One of the hazards of simultaneously replying in different windows.
DevilD, there are hedge funds that would pay big bucks for your crystal ball.
Dog
you’re counting waves? Dude, I have never seen any fucker ever make money counting wave patterns. Take the cash and treat it as a lottery win. Seriously.
Wave counting has to be the worst technical system ever devised by mammals.
thx D-Dog .. actually, I have a similar view, although forecasting as far out as 2012 is too far for these eyes.
Juice I second that. I have the bearish view also. But I don’t see how anyone could forecast that far out. DD must be betting that OBH does shit to help the economy. I do think that this market and economy will take a while to repair, but 2012 come on Devil
I will be hedging into this lift today.
If a washout low is coming in Q4, it will likely be soon.
Short covering bump
J, Obama is from Chicago. If I’m right the “trogs” in congress will be kept in line by “The Enforcer” Rahm Emanuel.
Last night, DEVILDOG said big gap down tomorrow (today) and we hit new logs. So far, 0 for 1.
I will wait until next week to put on any trades. Longer term I think we may see a test of 7900 in December. I want to see what BRK-A reports after the bell.
This market is going lower in the coming days.
j, Elliott waves are only one indicator I use. I use everything. The foundation of my 2012 call is economic FUNDAMENTALS. Actually, my 2012 call is my OPTOMISTIC forecast. I’m actually more fond of THE BOTTOM in 2015. The US economy is a fake POS and America is bankrupt along with it’s individual citizens. You want to believe all is well and will be fixed next week then please start buying now to position yourself for new 30 year bull market to DOWCOW 100K. I’ll take the other side.
Look I was around when Clinton took over in a shitty economic environment and had bob Rubin advising him. Of course Clinton being Clinton was looking forward to re-election as early as the first coupla months in the first term.
Rubin’s advise was that every policy had to be tested against the effects on the bond market as he believed and correctly so, I might add seeing where we are now that the bond markets was the animal that would determine his reelection in 96.
He told Clinton that if the bond market was friendly all the other assets markets would follow. This wasn’t stupid advice.
Although the climate is much worse than it was then we also have to remember that we had a pretty shitty situation with the S&L and banking crisis then.
That was the best advice given to Clinton. My best is that they will follow similar lines.
Dog…
There are lots of opinions out there about what wave we are currently in…
allallan.blogspot.com – makes money counting waves…
The open almost made me piss myself laughing. I’m in FXP +$25 at close yesterday. It is my single largest holding. I see this morning’s open and laughed so hard I may have to wear depends. I’m not really a bear, but what good news is on the horizon? Employment numbers, consumer spending??? What a gong show!!! Salad Days baby…
j, I don’t give a shit what they do. The rules of mother nature reign supreme. MANipulation of nature’s cycles is BULLshit. However, have it your way.
Dog
Elliot waves is crap. Most techs are but that is worse because people actually lose all their money following that voodoo nonsense.
As for the fundamentals.
Ok so you think we’re going to reach new lows by 2015. Okay.. Let’s take a look shall we.
Cumulative US GDP by 2015 will be $100 trillion even assuming zero growth until then and no compounding . It kinda makes an $800 billion problem seem like nonsense.
Oh but the US has unfunded pension liabilities of trillions of dollars… and medicare or trillions also. Big fucking deal as they won’t pay on it and renege just like they did in Australia in the 80’s. They began to means test pensions until the middle class understood they would not be getting the pension so the problem disappears straight away.
Really, if we could program robots to perform low-end tasks, such as dishwasher or waiter/waitress, the country would be better for it.
Waitress could work, but only with the proper model.
_______
DD,
Your post may be the reason I could need a catheter…at some point I will eat permabears for breakfast, lunch and supper…and I won’t bother spitting out the bones…I think permabears are (on an intellectual level) in the same category as conspiracy theorists who believe oil companies assassinate people
WAVE C, thanks for the link.
I’m shocked! You have a child in collage?
I have a child that makes collages. (She’s 8)
Devil Dog’s kiddies?
_________
El–
I haven’t met a permabear yet who wasn’t, grouchy, grumpy, irritable and had a negative outlook on life in general.
It takes an extraordinarily patient and understanding person to be around them for any length of time.
COIN looking good
j, yeah and when those paid for obligations are not met the masses will just say ok and keep working for the American dream and all will be well. Why don’t you take some time and read about world history. You’re an idiot.
Your post may be the reason I could need a catheter…at some point I will eat permabears for breakfast, lunch and supper…and I won’t bother spitting out the bones…I think permabears are (on an intellectual level) in the same category as conspiracy theorists who believe oil companies assassinate people.
True, dat.
Anyone ever see Devil and Jeff in the same room together?
_________
VASC another small cap basing nicely!
I haven’t met a permabear yet who wasn’t, grouchy, grumpy, irritable and had a negative outlook on life in general.
You mean, like this:
I haven’t met a permabear yet who wasn’t, grouchy, grumpy, irritable and had a negative outlook on life in general.
That “fool and his money” thing is ringing a bell, too.
_________
Like clockwork, when DevilDog reappears the market starts to go up.
Sorry, Dawg, the second quote didn’t “Take” — should’ve read:
You mean, like this?
j, yeah and when those paid for obligations are not met the masses will just say ok and keep working for the American dream and all will be well. Why don’t you take some time and read about world history. You’re an idiot.
Fucking edit function! (shakes fist)
___
If Obama had a sack he would begin means testing all pensions immediately and tell all those under 40 they were on their own.
Medicare could be fixed by moving everyone to cheap funded clinics or they take out their own insurance.
The US doesn’t really have a budget problem at all when we think about it. Take out the surgeons knife and cut out the money going to the seniors who have enough of their own money to survive.
——–
next up
Let Detroit go bankrupt and take out all the pension liabilities once and for all.
I am pretty amazed that nearly all the major car-makers have plants in the US set up with the last 20 years because the US was a cheap place to make cars with good productive workers. A recapped Detroit not saddled with pension liabilities would kick fucking arse.
You Americans are far too pessimistic about your country. Man up you big marys. it’s still the best country in the world ( after Australia of course) and the stock market is really cheap over the long term.
DevilDog,
Instead of crazy predictions and then saying “When my target is hit”, you give something specific that way people can follow.
Buy Buy Bot…This is what rallies are made of: Over the last three months, 650,000 jobs have been cut from payrolls. In manufacturing alone, a whopping 90,000 jobs were lost in October. As everyone knows consumer economies thrive on job losses…not to mention the economies that support them like China. On a more positive note, got to love unions as 27,000 Boeing assembly workers were on strike while everyone else is losing their jobs.
j, yeah and when those paid for obligations are not met the masses will just say ok and keep working for the American dream and all will be well. Why don’t you take some time and read about world history. You’re an idiot.
No dog, you’re the idiot. The US thinks it has a problem because it thinks it has to meet those unfunded liabilities. Cancel most of that out, increase the 401 ks and there’s no problem.
Suddenly the debt situation goes away the US is on top of the world again.
You’re the fucking idiot if you think those liabilities are going to be met for the middle classes.
forget it.
Dog
You are welcome…using the FLY (short creative trends) and ALLALLAN (longer trends)…I have been doing well…
I love the fact you can make money as long as the market moves. and I don’t disagree with DD in the short term.
The most salient thing with permabears is shorting only has limited gains and unlimited losses. They have called 50 of the last 10 recessions. Bad news is bear markets are about 3-4X shorter than Bulls. Not good odds for wealth creation.
List of my calls:
1) Huge market rally 2 weeks ago – CHECK
2) Bad selloff after Obama gets elected – CHECK
3) 1 day rally today as bad jobs numbers already discounted in 2 day selloff – CHECK
4) Re-test of new lows in coming weeks – WILL BE CHECK soon
Every call above, Jake calls me idiot along with Devildog. Who is the idiot now?
Oils leading this rally. I think it is short covering from the beating they have been taking lately. Another head fake don’t be fooled. Last weeks rally was a head fake and short covering. The clam before the storm. There is no recovery coming if we keep losing jobs at the present pace. What 500,000 if the last two or three months. Ouch
Where is everyone going to get the moey to buy iphones and blackberrys and other shit for Christmas. Credit cards? aren’t banks cutting credit lines for some borrowers. we are in to test new lows before you sit down to stuff your pie hole with bird and gravy
RBS???
WHAAAT THAAAA FUUUUUUUUUUUCK???
_________
well, since noone else is pointing it out, today empirically demonstrates:
– ADBs are still alive and kicking. The last two days, all we had were A’s…
– not just up on bad news, but up on horrifying surprise, sickeningly bad revisions to past data, and an already-apocalyptic-before-we-even-start-getting-grumpy employment rate.
market looks great. another great buying opp…
EB making up shit as he goes along.
Check!
_______
I see that RBS is undergoing a 1 for 20 reverse split today. I expect to see more of this over the next couple of years as stocks continue to disintegrate. Prime candidates will be the stocks that did multiple forward splits in the credit boom.
j– I thought you were an American?
Michigan has a lot worse wrong with it than just legacy pensions.
We just got through a due dilly process that was alllll fucked up because of their new tax conventions that were pretty much just thrown in there, fiscal year end of your bidness, be damned.
OTOH– The governor is a commie, but she’s kinda MILF.
_____
Jake you’re an idiot. You know very well I posted those calls here over and over again. Why can’t you admit I’ve been right and you’ve been wrong? Geez. Face reality.
Has the market priced in lower commodity prices owering the cost to produce goods hence increasing profit margins or allowing manufacturers to lower the price of products thus benefiting consumers ?
What about gas prices down 50% at the pump from 3 months back ?
Lower commodity prices could potentially have a huge positive impact on the market.
Ozark — okay, thanks, that makes sense, since the preferred (which I have) hasn’t moved at all…
I don’t own the common, so I was a bit shocked to see that ticker… lol.
_____
I was just looking at the RBS reverse split also. Their web site search is broken. Ozark, are you sure it’s 20:1?
Sorry Fly I had to take profits in BEAV, I should not have been in the name anyhow considering I got in after the market event occurred and the expected outcome did not materialize. On to the next one, good luck.
Shorting does not really have unlimited losses. Rubin is like all the other Aholes who are given economic guru accolades – doesn’t know squat or briefly knew squat but it doesn’t work anymore. Like someone suggested, John Paulson may be the guru who could help at this time.
CAP,
While lower gas prices put money back into people’s pockets, there is no reason to believe they had the excess cash to begin with…so potentially a nil effect.
I wish I had CNBC on the self flagellating fuckers of goats on so I could here, “…the markets are efficient and all of the bad news is already priced in…”
Anonymous Says,
No shit it is only theoretical, but the main point is limit opportunity for gains…
I really lost respect for Rubin during his tenure at Citi. He was a main driver behind bringing Vikrim Pandit it with $800M HF buyout, which turned out to be worth $0. $800M Poof! In a year. Sick.
Now Citi is a total mess with Prince CEO “gotta keep dancing until music stops” destroying the company with ridiculous mortgage investments.
If the lows from yesterday hold, this will be a very healthy uptrend for the market – 3 consecutive higher lows. One can go long here with a stop at yesterdays lows.
Jake, I think I had the same preferred, the T. Sold it a couple of weeks ago.
Yogi, I haven’t done the math but it looks right. I got the number from my own company, and I assume it came from official channels, ala the DTC.
Jake:
American? Na I lived there for 16 years until a 4 years ago.
Yea Michigan is a shit hole, but there’s no reason for the car firms not to go bankrupt and recap and get rid of the union in some way. What’s their fucking choice anyway?
GM/Ford/Chrysler would be great firms without that monkey on its back once they were recapped.
DevilDog says:
I don’t care what happens as my work says we hit new lows next week.
Hmmmn, hasn’t your work shown “new lows next week” for like the last three weeks?
Two days of big Zags so time for at least a little zig? I sold SKF near the close yesterday but my SDS is big time red today.
Ozark – Thanks. After I posted the silly comment I was wishing the edit function was back here.
Anonymous
Hold on to your SDS. This is a short covering rally.
We have seen this movie before. October 13th the big pop after the lows rally into November then down from there. Your SDS will pay off.
I agree. We’re going lower after today.
VASC is BTFO over 10
End of bullshit rally. We finish red today with new lows next week. I’m going to lunch with the wife. Have a great weekend.
T MOE, What if there was really, really, really horrrible news and there was nobody left to sell. Just imagine… What would it mean if the market went up on bad news? I have no opinion on how we end the day. (In the interest of full disclosure I am net long.)
Hey DD, have fun at the track. Take a few laps for me. (Lucky dog!)
Don’t you just love hearing idiots refer to “my work” in predicting where the mkt is headed, and when? Funny stuff.
Be careful what you wish for Fly:
http://www.youtube.com/watch?v=W1czBcnX1Ww
so…
…is DUG a BUY here on this pullback ?
EB — you’re full of shit… post the links to your “calls.”
The ones not made retroactively, I mean.
___
Yogi, will do. Thanks!
OMG … GM lost 7.9B
imho the car makers have been getting there legs sawed off
for 40 yrs now.
the reasons:
1-UAW(lazy,stupid & entitlement mentality)
2-Socialist’s (hollywood,envirocoms,Trial Lawyers,politians)
And get this,the uaw supports these fuckers with with campaign contributions.
that said whatever happens the above assholes will still be there.
Fun with “Actual Quotes” brought to you by iBC Limited Partners:
This week’s special guest: “T-MOE”
Last weeks rally was a head fake and short covering. The clam before the storm.
_____
I have been doing some preliminary research on the ground here in the San Diego area and the finding are quite revealing. The distress in the commercial real esate sector is serious and just beginning to expand. Mostm if not all marginal businesses folding like tents. Other service oriented businesses getting compleely poleaxed…mortgage and finance (obvious), insurance among others. The commercial real estate brokerage community is like the non-distressed residential seller late last year and earlier this year…shitload of denial regaring lease and sale price per square foot…commercial real estate NEVER goes down (yeah right). This is the beginning. Why am I telling you this? It is very possible SRS could double by next summer if you’ve got a steel stomach to hold thru 30-50 point down days. Either way it’s a great trading vehicle.
^^^ My typos are egregious.
CRUDE has a destiny … there is no gawd damn way to avoid it. The oil complex is gonna get killed! Fucking slaughtered!
Donny,
Here is your crude oil price:
http://i33.tinypic.com/2dgs7l3.jpg
This is NOT the Raptor speaking:
Goldilocks ate my fucking mustard seeds.
That is all.
Thanks for pointing out my horrible typing skills. Another thing I have to work on.
I must have been watching Trish Regan and her fine ass look today
This batshit market ain’t got time to bleed today.
http://www.youtube.com/watch?v=lXr-N5tJY8I&feature=related
Mr. Yang,
Are you prepared get resume your position?
EB, you seem to want to highlight your mad skills. Sign up at Covestor, and lets see your audited, transparent record. It’s so easy a caveman trader could do it.
Foreclosure Crisis Now An Epidemic On Long Island
http://wcbstv.com/topstories/foreclosure.crisis.long.2.858238.html?ref=patrick.net
Donnymon, tell us about DUG vs DTO. Is DUG going to rejoin DTO? There was a parting of the two – your thesis that the oils will break down and finally follow oil sounds good to me.
I need a bailout too! If I don’t get 2 billion before the end of the month, I will be forced to layoff 50,000 Americans.
This rally looks about as healthy as getting drunk with a $2 whore.
(wood)
…Dude, not funny.
Anon-
There’s been all this talk of “dividends” & “value”, and that more than anything has boosted the scumbag oil complex. But they are fighting a battle they’ve already lost. CRUDE is going down further … possibly much further, and they’re gonna get slaughtered.
As for DUG … dips like this create another opportunity to build a position. That fucker is gonna paint a 6 handle once it becomes so obvious that the oil complex is screwed.
Am I the only one whose testicles are starting to tingle in anticipation of hearing the Messiah’s next words this afternoon?
I think my vagina is wet. It gets wet everytime The One says “uh.”
I’m gonna call that fag, Barney Frank, and tell him the cold hard facts. I need 2 billion before month end, otherwise 50,000 Americans will lose their jobs.