Deservedly so.
UPDATE: More late night pick-me-ups:
[youtube:http://www.youtube.com/watch?v=fSo2GsxMSYs 450 300]UPDATE II: Classic Krull.
[youtube:http://www.youtube.com/watch?v=shOv8Y_RNnY 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
Stats on PPT:
Overall market (3,397 stocks)
Technicals: 1.299 (strong sell)
Fundamentals: 3.593 (buy)
Hybrid: 2.259 (sell)
Top 25 ETF’s:
No. Ticker Acc/Dist Price Perf. Rel. Strength Volatility Volume Final Score
1 SEF 5 4 4 5 4.25
2 PSQ 5 4 5 3 3 4.15
3 DEE 5 5 5 5 1 4.1
4 DTO 5 5 5 5 1 4.1
5 DGZ 5 4 5 1 3 4.05
6 SSG 5 5 4 5 2 4.05
7 SMN 5 5 3 5 3 4
8 RWM 5 4 4 3 3 3.9
9 DRR 5 4 5 3 1 3.75
10 SRS 5 4 3 5 3 3.75
11 MZZ 5 4 3 4 3 3.7
12 SKF 5 4 3 3 3 3.65
13 SHV 5 4 5 1 1 3.65
14 DOG 5 4 4 2 2 3.65
15 UUP 5 4 5 1 1 3.65
16 PLW 5 4 5 1 1 3.65
17 SHY 5 4 5 1 1 3.65
18 IEF 5 4 5 1 1 3.65
19 SDS 5 4 3 3 3 3.65
20 SH 5 4 4 2 2 3.65
21 IEI 5 4 5 1 1 3.65
22 FXY 5 4 5 1 1 3.65
23 DZZ 5 4 5 1 1 3.65
24 REW 5 4 4 5 1 3.6
25 SDK 5 5 3 5 1 3.6
I find no need to chase performance in top ranked stocks now. The market is all about defense and effective short sales.
frankly, they deserve to have the crap kicked out of them. china has been a big pile of horse shit for years. it was a scam when the bowtie moved there, and it’s still a scam now.
Remember it has been scientifically proven that n bailouts are never enough. Without n+1 it will be the end of the world as you know it.
The rabbit hole is getting a little crowded and may get thinned out tomorrow for a little comic relief.
No Robster for you Mr Fry.
No Derivery. To expensive!
http://video.google.com/videoplay?docid=8483214695191142670
Asian no like dog. Cat vely good. Your articre is vely lacist.
Dim Mak – http://www.youtube.com/watch?v=QPWh24YQ1go
Does anyone think that companies are starting to exaggerate their losses and make the economic environment seem as terrible as possible so they can get a piece of the bailout. GM is a case in point.
Also Best Buy (BBY) CEO Brad Anderson “Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we’ve ever seen.”
Anyone think BBY will start asking for a bailout ?
Just read that – seismic changes in consumer behavior.
INTC SBUX DELL GOOG soon to follow.
Black dog makes good soup.
CAP: No. Those guys are habitual liars – however bad they say it is, rest assured, reality is much worse.
Fly good find….hilarious…is that Gappy?
Flux Capacitor Says:
CAP: No. Those guys are habitual liars – however bad they say it is, rest assured, reality is much worse.
Flux – I don’t see it. I live in metro Phoenix. We have been one of the worst hit parts of the country in this downturn. Yet I go to the malls and its crowded and people are buying stuff. Restaurants are crowded. I just don’t see this economic malaise that everyone is talking about.
That was some good stuff.
I think you should start playong some Dean Martin.
I mentioned, Sinatra till Dow 7,500.
I think you should start playing some Dean Martin.
CAP: I guess it depends where you’re at. I know a LOT of out-of-work realtors; title companies shutting down or going BK. Sales tax receipts are down in many places, and I know a bunch of insurers are desperate (bordering on panic) to get as much premium in the door by the end of the year as they can.
On the other hand, I don’t go to the mall our out to eat much, so I couldn’t tell you if people are really out there spending money.
Chart porn:
http://spiralmarkets.com/wp-content/uploads/2008/11/11-3-2008-3.jpg
Tim the Enemy has a poignant post on signs of a top.
http://slopeofhope.com/2008/11/12/no_happy_ending.htm
Tim is a fictitious character.
That clip was off the hook. Dude is gonna bust an artery.
i want some of whatever that guy is on
Check out our buddy JK …..holy shit..classic
http://www.hitthebid.net
Shanghai trading higher.
China is irrelevant. It’s all about Hong Kong, getting dog raped.
big ups to krull
Krull and I have had equal levels of success this year!
The thing about living in mud was hilarity.
Tim is REAL…and my hero….then Fly, in that order.
KC —
No, that guy is more me than Gappy.
Well, me before I went to college and lost my ax-sent.
__
CHINA is irrelevant? okie dokie
I begs to differ. Shanghai is NOT irrelevant. It was the canary in the coal mine, it led the drop in Hong Kong by 2 weeks. Perhaps it will bottom first.
What you mean, “getting dog kicked out if it,” Fry?
I jus’ ate, muver fluckah!
______
good stuff on fractals in WWIII’s video link.
What makes me really think, is what if there was a socionomics mania? If everyone in the world traded what was hot, and everyone traded upon the principals, and everyone anticipated a certain change, or intentionally tried to avoid “following the herd” by doing exactly the opposite of what the elliot wave pattern is supposed to be
Jake – how are you feeling about the market grinding out a bottom here?
The only bottom it is grinding out is mine, apparently.
Any thoughts?
So what would be the Fly’s course of action tommorow for a pussy who is 95% in cash sitting on a very low 7 figure investment account.
The Chinese market does not trade freely. All of the important Chinese companies trade freely on Heng Seng. Therefore, the true value of those stocks are better represented on the Heng Seng.
But doesn’t FXP trade on China? I do not like seeing green there very much.
No, FXP trades on Heng Seng.
“Join me in not knowing sheet!”
Har! Har! Har! Har!
______
Here, I am watching the FXP components trade live now
http://finance.yahoo.com/q/cq?d=v1&s=0941.HK%202628.HK%200857.HK%20601398.SS%200939.HK%202318.HK%201088.HK%200883.HK%203968.HK%200728.HK
You’re welcome.
Guys, for tracking FXP (which will be up huge in the am), just use this link:
http://www.bloomberg.com/apps/quote?ticker=XIN0I:IND
The Fly is God.
Jay Pee
Gotta start buying some gold.
Buy some of the better dividend plays, like JNJ and PZE.
Over the next few weeks, maybe nibble on some tech with big cash stashes for the LONG haul (e.g. MSFT, CSCO), and the banks that just can’t fail (e.g. WFC, JPM).
Short GS to $3, SHLD to $2, and OIH to $0.
Very nice. Thanks, Fly.
Boom,
I hedged with some FXP today after many days of surprise buttsecks.
But I am longer term digging here, looking for the swing low, sweet chariot.
Could be here tomorrow with a test of the Rocktober lows…
When it comes, I don’t want to be caught gawking on the sidelines.
No catalyst though in sight, which is somewhat riveting.
______
FXP is banking coin currently. Let us pray that the losses on HSI continue through to the close unlike last night.
If they do, we should see 95 open and over $100 for the close.
Thank you to the fly for a wonderful call.
FXP should open at $90++ tomorrow. Thank Wo Fat, dreaded Chicom secret agent and arch-nemesis of Steve McGarrett, for advising the Marx family to double down at $70.
All 25 holdings and a beautiful graph showing that the index underlying FXP still has a few hundred percent to fall are here:
http://www.ftse.com/xinhua/english/Indices/International_Investors/Downloads/FXI_China_25_Index_Factsheet.pdf
Was “j” also put on read only?
No J, too, is fending off surprising surprise buttsecks, and cannot come to the phone right now.
____
Comrade Marx –
How does something fall a few hundred percent?
Things that rise a few hundred percent sometimes fall a few hundred percent.
Like my readership after 1917…
How does something fall a few hundred percent?
Communism math.
Down 1,500 tomorrow.
Any takers?
Looks like the Chicoms have a gun to their head 2nite – Shanghai is actually up. I think that this will be the required one up day per month as required by the Little Red book of Capitalism
Fly – you serious?
Idiots.
The Shanghai is irrelevant. And, the Heng Seng is irrelevant. Today’s move in Asia was priced into FXP.
If the market goes up tomorrow, FXP is going down.
Period, end of story.
However, unfortunately for Tim Seymour, we’re going down 1,500 tomorrow.
Any takers?
NFW.
Unless it’s for about a microsecond.
Is he any relation to famed CNBC stock analyst, Seymour Hyney?
____
He’s a distan cuz of Seymour Butts.
Also co-authored a book on China investing with Hu Flung Poo.
SHOOD back in the news:
http://finance.yahoo.com/q?d=t&s=CROX
This thing is going parabolic on the downside, and as a consequence, it’s almost over, at least for now. 1500 would be a nice washout. Devildog would go 300% short at the bottom, then get blown out, because he thinks it goes to the 19th or something.
I’m in, what the hell.
http://www.youtube.com/watch?v=xlwkNDj_YqM
Why would I be put on read only? I’m truly loved.
Here’s the deal: the despondency in Asia is extreme. I’ve never seen it like this. A coupla fuck wit broker heads called me today and it was the most despondent i have ever heard them. I carefully got out the fact that their clients are almost catatonic.
I’m not shorting stocks down here. In fact I bought some decent well run firms that are carrying a yield of 6.5% (before tax) and don’t have much debt.
If they get me they get me.
I’m now around 35% invested.
Fly headline that shit.
Fly:
I’ll have a bet with you that we don’t go down 1500 on the dow.
How much?
Fly what offshore bank do you run your IBC through?
Buy into weakness in the energy and commodity sector. If oil hits 50, load the boat on related stocks. Get ready for inflation. Trillions of dollars being printed, sure thing.
“Put on some Slayer…some Hell Awaits and rip the fuck out of something”
Krull rules.
Krull in 2012
nice call on FXP and DUG
As I was driving tonight, I thought there should be some new license plates issued for the handicapped – the mentally handicapped. We need a way to identify these morons.
Hank “I don’t know what the fuck I’m doing; I never knew what the fuck I was doing (besides stealing)” Paulson should be issued the first one.
Masterful Fly: 75%
PS Thanks for the FXP components
Yep, FXP/DUG was epic call
Another 25K of GNW @ $.96…So, 50K @ 1.04…no stop. Fuck it. This panic will be bought for a trade. Well..it worked with RDN @$.90 6 months ago and I sold it all @ 3.63 instead of 6+ like an idiot. Shit, I made money on the plastic shoes co gone penny…just in time as it turns out.
Still short HIT from $70…I will cover @ sub-20. Why do I pick the one big cap Japanese Co. that won’t tank with the rest? THE one.
RJF short FINALLY paying off (its a personal thing)…which, for those following along, has partially offset $40 FUCKING THOUSAND in profit evaporated in CBS in 5 days. Stopped out 100% @ 7.5 this AM. Actually, -1K in the end after taking not enough profits last week. So, Krull I empathize.
But, I’ll back in in CBS and GCI soon enough.
Tomorrow, INTC, MS and C if we gap to Hades.
Fuck yeah. Karma’s back.
EDIT: AND EDIT!!!
this picture says more than i could
(safe for work, etc.)
http://i35.tinypic.com/4gfw6.jpg
Is it the full moon yet?
He might be wrong (hope so) but I doubt he’s acting here:
http://www.reuters.com/article/Finance08/idUSTRE4AB7HT20081112
the only hope we have of getting ourselves out of this deficit mess is to bring down other countries, so we don’t appear as bad on a relative basis. if we can convince everyone to take down a trillion or two, to spur ‘growth’, then the real estate agents will be driving ferraris again in no time.
I’d like to understand DevilDog’s reasoning behind this statement:
“Needless, to say my SDP is going to the moon soon”
with fossil fuel prices collapsing and demand for electricity fairly inelastic. Shed some light?
if i remember correctly, devildog’s thesis revolved around an apparent fact that most utilities fund a lot of their operations through short-term borrowing and credit. thus, with all the problems in the credit and bond markets, it would spell trouble for utilities.
i’m paraphrasing, and i’m a little foggy on the ‘short-term’, but i believe that’s what he said.
i don’t pay close attention to utilities, so i also just took him at his word. maybe when i’m not feeling lazy i’ll go look it up.
80/20
demand for electricity is short term inelastic but not longer term.If there is a recession demand for power falls. That’s it.
let’s not forget that the utes depend upon the users to pay for their consumption.
latest trade on spy= $86.69, 6000 shrs traded
880 S&P is the drop off point according to a really good analyst I know. If we get several consecutive closes below 880… not one but several then it’s over.
am i seeing futes rallying?
Krull: Join me in not knowing shit.
An edge, based on pattern recognition, whether it’s fundamentally or technically based, does not require insider knowledge. In addition, risk/money management ensures against risk of ruin. Krull is unusual in the sense that he has so much expressive energy, but I am afraid he is quite usual in the kind of mistakes he makes. Still, I feel almost guilty that I have no debt, own my home free and clear, and can mint some market coin after watching this sometimes hilarious (…move back to Sheephead Bay and live like a snook.), but essentially very sad vid.
Scully
What do we do with MS today?.
Wal-Mart – ass kicking quarter. Expects solid XMas selling season.
Went to the mall this weekend, couldn’t find a parking place.
Depression? Recession? Fuck no. The crises is limited to financial fuckers running around like chickens with no heads, rich fuckers who own stock up to their eyeballs, and stupid fuckers with big houses and giant mortgages. Wal-Mart America – strong and getting stronger as gas gets cheaper and cheaper.
Dear j – yeah, it’s always a smart move to short utilities ahead of an Obama administration pump job on moving the entire country to electric vehicles within a decade. Go ahead, mortgage the double-wide and short with impunity.
Eye No
My take has been that at some stage the monetization, throwing the kitchen sink at the problem will eventually become more of a force in the economy that the de-leveraging that’s going on.
I get the shit kicked out of me every time say that by dog etc.
Here’s Bill Gross agreeing with me. He must read this blog obviously:
There will come a time, however, perhaps over the next few weeks or months, when deleveraging of the private sector is met by the leveraging up of the government sectors: the TARP, CPFF, and MMIFF will inject over a trillion dollars of liquidity into the system over a short period of time. At that point, our nuclear atom will begin to stabilize and it should be safer to move a little distance back out toward the perimeter where yields and potential returns are very attractive. PIMCO would focus on the following:
1. A continued above-average allocation to agency mortgage-backed securities – now yielding close to 6%.
2. An overweight position in bank capital – bonds and preferred stock in companies where the Treasury has an equity stake. With Uncle Sam as your partner, default seems remote.
3. A focus on the frontend of the yield curve. The Fed will stay low for an extended period of time while the inevitable inflationary pressures of government bailouts lay further out on the yield curve.
Fly,
Props to webmaster…
1) Karma back
2) Edit back
3) viruses gone
Last but not least…
4) DEVILDOG silenced
Nice
Why does China have a stock market?
We thought Mao and the bad Communists ran the Godless China.
Xinhua 25 was UP overnight. What the fuck?
down is the new up?
http://www.bloomberg.com/apps/quote?ticker=XIN0I:IND
The Devil is gone and we go higher…
Oct. 10th lows we need to hold:
DJIA 7882
S&P 839
Nasdaq 1493
If not…look out below…
Fly
Why did you ban DevilDog?
I would guess that DevilDog is one of the reasons a lot of people post on this site. I would think that without him your traffic will decrease. Bring him back. I need someone to help counteract all of the bull cock sucking sheepeople that know nothing
FXP is not in the top 25? Mr. Rimm does not correct Hang Seng vs Heng Seng? DevilD was gettin outta control – that’s all.
Eeeeyyyy, Krull!
What dah fug is wrong wit Sheepshaid Bay, anyways?
Fo’GHETABOU-dit!
___
T MOE
There is nothing wrong with being a bull or a bear. But when you mix bull or bear with being a complete fucking zero, like DEVILDOG, then you get nothing but a bunch of bullshit rants that get boring after about the 1000th post, especially when he talks about his blow up dolls 34D’s and his toy viper.
Jimmy
Im clamouring for MY PPT
I deserve fly’s brain on a computer
I deserve superior analysis at the touch of a button
I deserve sexy, sleek, boner-inducing graphics
I deserve free money for a nominal fee
However, I DONT deserve waiting so long. Make quick with the PPT service so I can increase my fortune from piker-size to Fly-size!
moe
Not for nothing but if you were long or bullish he would take it as offensive. Seriously he would have beat you up if you were together
The only reason he like you is that you trade from the short side.
The Paulson is worse than Hitler kinda showed he was a few cents short of a dollar.
Anyways he’s reading the site avidly is my bet so he isn’t too far away.
Doug Kass
Contrarian
11/13/2008 7:46 AM EST
Rallies occur when investors least expect it.
I now expect one.
Position: n/a
Dog
We could be going up in the next few days. (That will rattle his chain)
Fly banned DevilDog, because the market tends to bottom around the time DD starts posting. Fly is short and wants the market to head lower. So banning DD was a ‘strategic’ move on his part (in consultation with Fly’s Witch Doctor).
I will sub-penalahz you, Fly.
________
“If there is a recession demand for power falls”
(agreed in principle, but having trouble believing the degree implied)
“utes depend upon users to pay for their consumption”
(agreed, but are you talking mass homelessness ?? .. more trouble believing the degree implied. factories will ramp down, yes, and plants will stop postponing maint. ratepayers under obamalama prolly’ll be forced to pay for “green” retooling. not altogether unhappy tarpit in which to be thrown)
Interesting, shorter edit times.
Good idea.
I will still sub-penalahz you, howevah.
_____
I’m still looking for a one day wonder today … is that no wonder?
when I see a good risk/reward spot, I am gonna go full guns with upside ultras
of course we needed a dumbass up open that failed to set up the possibility
Dow DOWN 1500 today. Yeah. Right.
FXP to 100. Yeah. Opened DOWN FOUR at 76.
What a bunch of DUMFUKS here shorting at the bottom.
Thanks for sharing. Nice one.