Don’t be 100% long or short, if you enjoy the luxuries of money. The market is directionless, with hilarious weakness in the banks and boot stomping gains in select commodities.
If you’re long [[FXP]] , you may want to own [[ROM]] too. Or, if you are long [[UYM]] , you may want to own [[EEV]] .
One thing is certain: uncertainty.
I don’t think anyone would be surprised if the market was up 300 or down 300 today. My approach, as always, is to win. If that means getting long National-Oilwell Varco, Inc. [[NOV]] , with a 30% hedge being short Transocean Inc. [[RIG]] —so be it.
Right now, intra-day, I’m down close to 2%, thanks in large part of the homos who trade Chinese stocks, via [[FXP]] . However, I am optimistic about my burgeoning National-Oilwell Varco, Inc. [[NOV]] position breaking $30. And, at the same time, I like the comfort of being short the big oil producers, via [[DUG]] .
Basically, I am not sure where the market is going today or tomorrow. But, I do know, with the courage and tenacity of a hungry lion trapped inside a room full of techno dancers, we will touch down on 7,500 before 2008 is complete.
On a side note, CNBC is hitting a new 52 week low today, with their bullshit Russian propaganda. They actually sent Erin Burnett to Moscow? For what?
Their bullshit market is down 75% this year and opens 2 days a week for trading. Why the fuck is CNBC wasting the corporate dollars of General Electric Company [[GE]] , trying to paint that fucking Russian pig gold?
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BIDU.gone
I think we dick around today & tomorrow .. big move is wednesday .. best guess – up BIG
I’m really surprised we have not tanked yet. Too many shorties?
Why do you hate Bolshevics so much?
Today will end around unchanged. No direction in the market till later in the week. I agree we go higher before lower though.
Hedging is lame. Roll your sleeves up and get ready for Mr. Market to give all those put-holders a sharp stick in the eye during this expiration week via a massive 7-9% rally.
Once expiration has passed, however, I make no claims as to the sustainability of Dow 8,000+
Sure Andy, bet against the guy in the time machine. Let me know how your 9% rally works out.
Erin Burnett is, along with all of CNBC, profoundly embarrassing to the intelligent people of this country. I cannot watch that program. For that matter, I cannot watch prime-time TV. (okay, 24 was great) Sooner rather than later, when history begins recording our demise – see Rome – they will look back at what mindless crap shone from our American TV programming and will ask only one question: How did they held on so long? (see Dancing with the Stars and American Idol, and just for good measure, toss in some Dukes of Hazard)
Think about what it says, just one of endless examples, that Erin Burnett even exists. The #1 financial program of America, and they place Erin at its helm. Wow. Maybe someone who has a certain, I don’t know but call me crazy, financial/economic expertise might be of a certain value? No, no — we couldn’t find anyone hot enough who had an informed mind, so we went with Erin. Good right? Everybody wants to do her, really helps with the ratings. Substance? Uhh, yeah, we’ll get back to you.
Nothing new here of course — It’s just profoundly mind-numbing. But one thing is for certain: The big tits and big screen American culture is coming down, and hard.
If you would have told my grandpa that Chevy was going out of business, (unless we offer another bullshit and ultimately useless bailout) he would have just shook his head and simply not comprehended how that could be. Chevy is America he might have said…so what’ that say about America?
“But, I do know, with the courage and tenacity of a hungry lion trapped inside a room full of techno dancers, we will touch down on 7,500 before 2008 is complete.”
After reading this sentence a few seconds ago, a medium-sized turtle-head squeezed off in my underpants.
RUSSIA IS DOWN 75% THIS YEAR AND DOESN’T OPEN FOR TRADE. EVER.
Fucking clowns.
Famous Andy Swan Quotes:
“I think this whole internet thing is a ’90’s fad”
“This .com stuff is a sure bet”
“I think we’re in for a 9% rally”
“Maybe I am straight afterall”
correction: hold not held and what’s not what’
Andy is a great man. However, I believe he has swallowed one too many Quaaludes today.
Don’t worry, Andy will become accustomed to the taste of boiled beets, eventually.
pirates drive up price of oil
http://www.theglobeandmail.com/servlet/story/RTGAM.20081117.wsauditanker117/BNStory/International/home
Top Ranked stock, via PPT:
No. Ticker Technicals Fundamentals Hybrid Score Hybrid Change
1 ASEI 4.35 4.2 4.28 13.23%
2 CWT 4.1 4.4 4.23 11.61%
3 ACGL 3.65 4.9 4.18 0%
4 INT 4.05 4.2 4.11 13.54%
5 WINN 3.85 4.4 4.08 0%
6 ENSG 3.5 4.35 3.86 10.6%
7 SBNY 3.65 4.15 3.86 12.87%
8 VPHM 3.4 4.45 3.84 12.61%
9 WTR 3.85 3.8 3.83 0%
10 ORH 2.9 5.1 3.82 3.8%
NOTE: At the present, I do not recommend chasing performance.
What is up with RBS!?!?
Wow, where did that little rant come from? I picked a bad week to stop sniffing glue…
My wife has asked me to petition the US Govt to become a Banking Institution due to the fact I’ve eaten 14 $183,400 hot dogs the last ten trading days.
look at BX, remember everyone on CNBC hyping this one! hahaha wow
Comrade Fly:
It is not permitted to discuss Russian stock market by orders of Mr. Putin. Soon you will have this policy in U.S. as well thanks to socialism. Only politically correct opinions will be voiced. You are on the blacklist sorry to say.
Odd no?
I am not expecting a big rally, or much of any rally, into options expiration, since we had a huge fake out rally last Thursday.
But, I do know, with the courage and tenacity of a hungry lion trapped inside a room full of techno dancers, we will touch down on 7,500 before 2008 is complete.
Shhooooooooooooby doooby dooooooo, exchanging glances….
Bobby dobby daaaaaah, what were the chances?
Before the night was thrrrouuuuuuuuuuuuugh?
__________
Shit it’s gonna be a great three or four months….
_______
I’d like to kick Vince “this is the bottom” Farrel down an open elevator shaft.
Is Vince Farrel related to Will Farrel?
I dunno…he said “Yeah we could go lower, but these prices haven’t been seen since the civil war in a hypothetical price to sales index I made.”
sounds pretty compelling to me, all in.
If the rest of the Depression is this boring, I’m gonna be catching up on lots of sleep.
It’s very quiet out there.
-DT
7,500? You trying to get on friendly terms with Cramer or something? The two of you jokers sure are having fun trying to scare the crap out of everyone. Why?
Just got back from the mall. Shopping for tires and other manly shit. Had to wait in a line to talk to someone at Sears about tires. Customers wall to wall on a fucking Monday morning.
Walked around the mall. Tons of people scurrying around with shopping bags in hand. Although the parking lot wasn’t full, you didn’t see many stripes on the pavement. This crises is largely isolated to wall street fuckers who don’t poke their heads out of their trading turrets.
OH GOD, THE SKY IS FALLING. We’re headed to 7500. Right. Got it. And chicks with dicks will rain down on wall street trading floors. It’d serve you stupid wall street fuckers right.
Have some faith people. The world is not coming to an end.
Was Vince Farrell a “dead head” before he started calling himself an investor? He strikes me as a person whose brain cells are are desperately struggling for life.
What a waste of a Princeton education.
turns out what school you go / went to doesn’t mean shit when it comes to overall intelligence.
I had a dream last night that the market was at 7200. And I was like (how did it get there so fast? last week it was 8800 or maybe it was 8400, and itis only down 250 today.
Looks like SLW wants to join HL,CDE on the silver junk heap.
That would leave PAAS by itself, I guess.
With apologies to Jake’s brother if this happens.
There’s an “education bubble” everyone is paying overly gay prices to go study and learn the same information you could get at a library,. Heck, you can even buy harvard books online.
Do people really still believe that it’s worth paying the same amount you would pay for a house, just to be in a position where maybe you get a better job? and do businesses really think it’s worth paying an extra 100k for someone that studied under a different roof?
Just picked up 1000 AAPL 88.9, for fun and because I suck.
whats the edge?
Don’t buy into close. We open lower tomorrow.
This is a T MOE market…very gay.
Fly, assuming you did go to college, where did you study?
CUNY?
Danny Says:
turns out what school you go / went to doesn’t mean shit when it comes to overall intelligence.
Or Investing/Trading
or maybe Barnard….
I am beginning to hate the stock market. Hopefully that is a good sign.
Same Contractor. 100% cash here and waiting for Fly’s 7500 to go in
Splain somethin’ to me Loosey:
Why is the SPX down 2.58% end of day and the SPY (admittedly, still trading) down only 1.40%?
that’s 118 bips, and that’s about where the spread was at 3:59 too.
What gives, market denizens?
_______
I am about out of my industrial drum of aspirin from Costco.
I did some “extra study” at Barnard once.
Very… enlightening.
But Pine Mattress has more dumb blondes, fwiw.
_______
Be long. Be short. Be a fuckin’ DICKHEAD.
CLF – ANR merger terminated …. CLF moving up fast
Jake: Looking at spx/spy discrepancy too, can’t figure it out.
Extra studying at Barnard…. sounds v productive.
Also DIA/DJIA shenanigans.
Futures boys are just having some fun with OPM.