Going into the closing hour, expect the market to whipsaw about, in an effort to fuck as many people as humanly possible.
Just when it looked like we were rolling over, BAM, we melted up. The quick knee jerk reaction is to buy now, in anticipation of a late day rally. However, the market does not follow predictable patterns any longer. So, my adivce, as always, is to stick to a thesis, hedge up if you can, and deal with it.
If you are net short, prepare to average up. If you are net long, prepare to average down.
Basically, the volatility is so extreme, one could make money, with timely buys/sell, playing both sides of the market.
At the moment, I am net short. However, it’s worth noting, I am a little nervous about that, due to seasonality.
Until the Goldman Sachs Group, Inc. [[GS]] and General Motors Corporation [[GM]] situation is resolved, expect a black cloud to loom over the markets head. With that in mind, I am comfortable loading up on shorts here. Of course, my position is different than yours, sitting on big year to date gains.
Whatever you decide to do, be sure to think “worst case scenario;” because this market is all about making peoples worst nightmares come true.
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I hate stocks again.
Where did all that bullish weekend talk go?
The Chi-Com’s are fucking dead!
Donny:
Good point. But FXP is still down. Hold the champagne corks Willie.
CAP & ALLPROz,
BTW, I love that standard bulltard shit about “all that cash sitting on the sidelines” instead of paying off all time historic national and personal debt. Can’t you come up with another bulltard bedtime fairytale? Hey what happened to krudlow’s goldilocks and the 3 BEARS? I know “mustard seeds” will fix everything. BAHHHHHHHHH!!!
http://www.youtube.com/watch?v=iv5E4XccCj4
Devil Dog mount up!
DEVILDOG:
STFU.
You are a jinx to me. Quit talking shit until the market is closed.
I went 100% short today… but like the FLY I’m pretty nervous about my positioning. The market can kill you if you blink or go to the bathroom.
I was up nicely 1 1/2 hrs ago, then down small, now up small. In the last hour, who the hell knows.
Christ, chill out.
It’s called a RANGE. It’s supposed to be hard to trade. Just play the channels for now.
Not every day is a fucking homerun 10% trend up/down day.
Major whippage everywhere you look
Fly, in all seriousness, what is the GS situation?
I just decided to do options hedges on my long plays for this week at least. I feel safe that way.
That FXP has some pricey options….hmmmm
Don’t we need China’s market to screw the pooch for that sucker to rally?
There’s absolutely NO REASON for this market to rally. It’s not oversold, there’s no positive news, there’s no tangible rebound in the economy anytime in the foreseeable future.
Gawd Dammit, I hate to sound so negative, but we’re fucked! There is no escape.
New lows are coming.
The GS situation is the market pricing in Goldmans Sugar Daddy Paulson leaving Treasury in January.
GS looks like a fortune cookie.
This is not a range. This is idiocy.
sick of HK yet?
that Floyd is a tricky bastard.
I suppose we’ll also see the return of the Yen carry trade, as China bids up commods. Wash, rinse, repeat.
I am 100% short with no long positions. This is confirmation of a continuation
Crazy thing is, GS isn’t even oversold yet. Close, but not yet. Another down day should get it there.
BOTD:
You are quickly becoming an arch enemy of iBC.
You’ve been warned.
Go read the fucking newspaper some more you bearish fucks.
Wow….what petrid volume, I keep slapping my flat panel because it seems like it is stuck, but there just aren’t that many ticks!
It’s like watching a swimming pool drain, hard to detect real movement until the end…..then sluuurp…then all your shares get sucked out the bottom.
The bear trade could work thru Wednesday-ish, then prepare to reverse course for the bear deballing Thursday.
i hate china so much.
Anyone who saw Obama’s body language last Friday after he had been briefed on the economy knows that we are in deep shit and haven’t been told the half of it. MY BGZ shares will bootstomp this market American History X style and put me in Routan for the holidays.
Watch out Mother Market will make you a real Idiot. Take some time hedge and wait for a trend. WTF kind of trading is this?
i’m still on the sidelines, but the ‘buyers’ strike’, as art puts it, is still on, and it was also what precipitated the july and october disasters.
just sayin
*Roatan*
There is nothing to like about China. Nothing.
GOOG at 310.29 for a trade….stop at Oct. low…
Fly:
Peking duck?
No. I hate Chinese food.
This is nothing to like about the Oil & Gas index. Nothing.
There is nothing to like about DevilPup…nothing…ask his Mom
The market is in Fukio “Housewife” Fukura’s hands now. She put on the carry trade yesterday on the announcement of the Chicom stimulo package, but she’s gonna get spooked seeing US markets didn’t think much of it (barring a buying frenzy). She will repatriate Yen and eventually test the ability of banks to stop the Yen rise.
Meanwhile, Nigel “Eurofag dickbreath” Hedge Fund manager will contemplate his meaningless leveraged long existence. Joe “dickhead” Hedge Fund will contemplate more redemptions while he reads the help wanted ads.
Also, Ivy League endowment managers get more private equity investment “margin calls” and contemplate what to sell.
HK will not go lower.
Hey j & GENERATIONAL Bottom, time to wake up and count your losses. BTW, you’ll be doing that for the next 7 days. BAHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!
HK will surrender, eventually.
http://www.rallymonkey.com/video/kenindex.swf
Fly,
What’s the PPT say about OXY-clean?
_____
China is bullshit. This was a move to stop protesting. People were going for their pay checks and the management left town. If you have no one to run the factory for fear of being killed [ All the fake money in the world can’t start the market to advance]. FXP is still the best move at the right time.
The Fly – I bet you will surrender before HK .
Will the afternoon program buys emerge?
Is Thunderpup my old pal Calvin?
That last post sounded somewhat “Calvino-esque.”
______
Come on, quit picking on China.
I’m long FXI foo’s.
Wrong Juice.
HK is my enemy,
Long SU….short HK
I’m long FXI as well. although, I’ve sold FXP Nov 65 puts as a hedge.
Keep an eye on GS & GOOG as tells
also, per Helene Meisler, if XLE can hold in there & outperform SPX, dat is a good sign
It Feels Like they are going to sell it into the close, although that is just a gut feeling here.
For the last 7 years or so, we’ve been hearing a bunch of absolute bullshit about the Chinese. The fucking PermaBulls were so consumed with searching for a reason to buy stocks, they devised this foolish idea of “decoupling”. Fucking decoupling … how stupid is that!
China’s number one peril is political instability. The population is growing old faster than their banana republic economy is growing. It could become very nasty, very quickly.
It’s about the break in the counter trend move. It’s over, at least for a day. I can’t vouch for anything past Wednesday.
I’ll make this bullshit market close down 200. Lucky for you, I’m in a relatively good mood. If I were grumpy, I’d close it down 400.
Is Thunderpup my old pal Calvin?
Not unless you called me Calvin without my knowledge.
One additional prediction:
Karen Tso will once again look exquisitely stunning and happy as she reports the carnage in “A and Zed” bank.
Japan will get clocked tonight.
Good news for one of Jake’s “monopoly” holdings.
Seeya Krauts. Stick to making the “biers.” (sic)
_________
I thought I had a post about redemptions/liquidation trumping seasonality this month, but who knows.
SRS at the highs and giving this whore market a full on facial.
Me rikey!!
MOS just bounced off the previous days close, they are doing everything they can to keep it above it…as it keeps printing new day lows.
Here’s comes the “Ernie Kovacs Half Hour of Fuckery” brought to you by Westinghouse.
Right on time.
________
donny, i agree with you partly. irrespective of their political system, the fact is, they’re only sitting on buckets of cash because we used credit to buy all the shit they build. now our credit is gone.
they’re ass-out now. they’ll be back to selling arms to iran, north korea, and syria as their full-time job until we start buying ipods in size again.
also, take a look at all their ‘infrastructure’. half of it is sitting empty, with the exception of a few cities.
China has been following the Japan model of the 1950s – export cheap stuff and import commods. China’s basic problemo is about 500 million too many people. The no.s do not add up – use 9% growth for 10 more years and those commods will be $200 oil and $200/ton coal.
U.S. Post Office laying of 40,000 employees, first time in it’s history!
http://www.ksla.com/global/story.asp?s=9247633
SBUX after the close looking U.G.L.Y.
Just like me old stock tradin’ Grandpap used to say:
Son, et’s not a fuggin’ bottom until ye’ve thrown up yer guts
four,five,six,seven, eight times!__________
What is wrong with CLNE. Is Pickens having a going out of business sale?
DD is a jinx. Thats funny.
Damn, I’ll bet those towel heads are pissed at C. How about asshole buffett and his buy American stocks now call. He sure is doing well on GS and his selling of Oct. put options. Cheating asshole. Mother Nature is totally fed up and is going to the elitists their own balls for an appetizer. BAHHHHHHHHHHHHHHHHHHHHHHHHH!!!
Speaking of casinos, somebody is operating on LVS today. Got a huge spike around noon, followed by an equally big selloff.
Then at 3:15 they ran it up like a scalded chimp again.
any thoughts on LVSreporting after the close
This tape is making me dizzy
There is no way that this shit is healthy.
china get mola..china people love vegas..the play is LVS long
Buffett sure likes selling puts – all the risk, little reward. He’s not going to get in Becky Quick’s panties that way, methinks.
Circuit City bankrupt. Who predicted that last year? Oh, I know … it’s right here:
http://www.ibankcoin.com/flyblog/index.php/category/predictions-for-2008/
Fly,
Anyway you can implement an “ignore user” button…so we can tune DEVILDOG out. That dude is simply a broken record player. Total fuckin douchebag.
jt
Look at FXP today. It’s down on huge volume. Opened at the low of the day, and now threatening to head back to the opening low.
Amazing how they can manipulate that thing with all the buying interest.
Fly is on a major losing streak.
Jake, you brought back memories. I worked for Westinghouse for 10 years back in the ’80s.
MOTHERLESS WHORE!!!
Sorry, make that the “Ernie Kovacs Final Twelve Minutes of Fuckery.
Brought to you by Roto Rooter and Philip Morris.
________
What a day. My only bright spot is that the Giants won last night (although in their typical ugly manner).
…and actutally, that was last night. So yeah, today sucks monkey gonads.
Circuit City bankrupt. Who predicted that last year? Oh, I know …
You really ought to think about taking that mind reading act on the road, Donnie.
_____
I’ve never said I hated a fucking market, but I hate this fucking market…
Jake-
You mean The Fly.
BTW, I think I’m gonna buy a small position of FXP at the close.
Late day fuckery is incredibly lame, as far as late day fuckery goes. Plus, it’s another contrary indicator. Fukio “Housewife” Fukura wakes up in a couple hours.
FXP trading like it’s made of melamine and still sticky w/lead paint.
Bought FXP @ 68.79
Grab a lil FXP for a hedge, damn you Master Fly.
XLE — Green.
CHK — Green.
TSO — fucking verdant!
________
Fly,
Perhaps a “punk buster” feature here…a semi-democratic voting system to kick off some redundant douchebags?
There goes SBUX……….
Donny,
Sorry, I thought you were talking about your own prediction. Even last year, the writing was on the wall for Crazy Eddie’s, er, I mean, Circuit City.
This was my favorite prediction, btw:
UPDATE: The Earth will explode, much to your chagrin.
____
Fuck corporate coffee, man!
TSO, finishes up at $10.60….
hmmmm… buyout looming?
______
Very long DIG in the upper 33’s.
Election’s over, so is political fuckery bringing the prices down temporarily.
The price of gas shall rise again!
Get you some DIG and DUG…can’t lose right?
Nice break even portfolio.
China… small potatoes