Good thing I gave my longs “an hour or two.”
The market is on the verge of recovering from a pretty big intra-day hole. However, don’t get all happy and shit. There are many, many stocks down big today, unable to get off the mat.
At a minimum, I will avoid torturing myself through buying more [[FXP]] . And, I will look to sell off some longs into strength. I have to take a position, one way or another.
Either I bet on a fucking meltdown or some sort of disingenuous Thanksgiving rally. At the present, I am in no mood to bet on anything. So, for now, I’ll just hang out, roaming around my office, all neutral and shit—white robed and fully sandaled.
Top long pick: National-Oilwell Varco, Inc. [[NOV]]
Top short pick: [[EEV]]
Can I get an upside, hold the relish?
Don’t forget the bowl of grapes and the scantily clad attendant fanning you with a palm frond.
Welcoem to the team. I know most of us dont want to take part of being short or long. Everytime we short, we get hit with 300 point rally. Everrytime we buy its a 10% loss on investment. And the inverses dont seem to work lol.
Nothing works. This market owns everyone.
When do we get to take over the streets, string up CEO’s who fleeced shareholders and give them the guillotine, like the French Revolution?
X-mas 2009
that will be the prevailing x-mas spirit of O-nine … if it works out well, it may carry over to O-ten
guillotines will be the new cabbage patch doll .. they’ll propel WMT to new highs !
Any suggestions on Biotech ETF’s to play on long side?
How about the Gibbet before the Guillotine FLY?
http://www.ushistory.org/oddities/gibbet.htm
Mark Cuban going to jail. If we can’t rally off that, what can we rally off?
http://www.dallasnews.com/sharedcontent/dws/bus/stories/111808dnbuscuban.1c00744a4.html
i dont think any CEO knowingly fleeced investors..with the exception of Jimmy Cayne maybe..they just didnt see the tsunami coming.
Shit, there goes the Cubs only chance for a real owner.
Ed how did Cayne fleece investors?
Cuban going down!
3000 more CBST @24.30
Bennet Sedacca
12:15:50 PM
No positions in stocks mentioned.
Warming up to closed end muni funds
I have not ventured into this area since late 1999 in any sort of size, but am getting interested again.
Retail will likely puke them into year-end, but I may begin slowly legging in soon.
Keep in mind that many are leveraged, so size matters in terms of position. Also, they are not terribly liquid so you must be careful when buying.
Many sport yields of 7+% and trade 15-25% below NAV.
Given the expected 45% tax rate, the tax equivalent yield heads towards 14%.
Equity-like returns without equity like risk.
More on this in an article later.
by virtue of being too ignorant..
Nice tits on the brit in blue
We will start lynching CEO’s and other perps in Summer 2009. Remember you heard it here first.
wow the market is gay as shit…
… all neutral and shit—white robed and fully sandaled.
>Fly looking to smite an evildoer.
_______
Nice one T MOE…trying to sound un-gay. Just so you know…it aint working.
Dear FLY,
Could you run the PPT score on CBST for me.
Thanks!
Todd Harrison
12:33:40 PM
No positions in stocks mentioned.
Monkey? I’m a Gorilla, You Clown!
It’s been a LONG while since we’ve spotted this type of flow and, as such, we wanted to pass it along.
On Friday, a gorilla bought 275,000 QQQQ December 32 calls and word has it he’s again in the midst of further exposure.
Maybe something, maybe nothing but so you see it.
http://www.youtube.com/watch?v=cWKtv4gxuvQ
Jacobs isnt half the player this guy was.
EARL!!
November 17th, 2008 at 12:32 pm
Through 880.
Significance.
______
“On Friday, a gorilla bought 275,000 QQQQ December 32 calls and word has it he’s again in the midst of further exposure.”
Yea, that was me hedging my SDP position. No worries though.
Herpes:
No doubt, Big Earl was a freaking Space Alien Rampaging Robot in the late seventies… like Jim Brown, a man clearly ahead of his time.
Did you see him knock that one Ram DB completely out of his career in that one clip? Looked like the poor foo’ needed an immediate replacement solar plexus.
That said, Brandon Jake — though he’s got a ways to go to equal Earl’s exploits, is doing THIS to 225 pound NFC Pro Bowl Safeties in the NFL in 2008.
That’s some wicked shit.
__________
Mr. Russell’s “Crappy Little Index That Could” is still gleen!
I think I can, I think I can, I think I can….
_______
Despite your ill humor, D-dog, you make a good point. It may be a hedge, so calling it an outright bullish datapoint could be a stretch.
The only biotech etfs of any volume I am aware of is BBH and IBB. BBH is made up mostly of DNA, GILD and AMGN (about 70% of total). IBB is a bit more divers with all NASDAQ bios and AMGN,GILD making up about 20% of assets.
Research it as I am doing this from memory.
FCX is looking strong
“On Friday, a gorilla bought 275,000 QQQQ December 32 calls and word has it he’s again in the midst of further exposure.”
Yeah
It could be that someone is positioning himself in calls, so he could short the market in a massive way. The calls would then act as a stoploss at 32.
Or the gorilla could simply be an investing bank in a position where it might be heading towards bk.
If it’s going to fail, it might as well take a huge risk to save itself, or fail hard.
anyone want to start an investment bank? We’ll call it suicidalbank ticker symbol DIE
How do 275K contracts trade when open interest is only 62.5K contracts?
yeah Topper harley, FCX got a downgrade to nuetral from jpm today and holding up well.
CBST:
Debt/Equity 3
PEG Ratio 5
Price/Book 2
Price/Sales 2
Profit Margin 4
Sub Rosa 0.1
Final Score 3.60
PPT Recommendation: Buy
Accumulation Distribution 2
Price Performance 4
Relative Strength 4
Volatility 1
Volume 4
Sub Rosa 0
Final Score 3.35
PPT Recommendation: Buy
3.45
Buy
CRASH ON AGAIN!!!
Fly et al,
Wise words from a wise man.
_______
What’s this shit like Karate Kid? Crash on. Crash off. This sucks. I’m takin my marbles back to Jellystone. Back to my cave…
Things that are up in a red market:
MON
OIH
SPY (yes, SPY)
Odder n’ odd, no?
___
Clash off!
Again, Daniel-san, Again!
_______
You’ve got to read Weinstein’s book if you want to join the club:
http://www.amazon.com/Stan-Weinsteins-Secrets-Profiting-Markets/dp/sitb-next/1556236832
You can’t trade here if you haven’t read Weinstein’s Classic:
http://www.amazon.com/Stan-Weinsteins-Secrets-Profiting-Markets/dp/sitb-next/1556236832
wierd Jake,
but MON did get egregiously and disproportionately (is that a word?) pounded on FRI…
Jake- Don’t forget IWM. That along with the Russell 2000 have been resilient all day.
FCX and SMH have been good for daytrading action thus far.
Can you believe I have the balls to continue making recs here?
Must be the donkey Irish in me…
Ronnie Jame DEO ($55.80) is about to bust the triangle here.
It’s a “buy on” if it clears $56.40 with some unctiousness, and a “get dah fluck out” at break down below $54.10.
Nice yield while you wait, as well (5.70%).
________
Dunno jake, everything feels soft and mushy to me. No longs at this time.
oil getting the smackdown
fly is the crash on or off??
i cant figure this shit out anyomore.
fly,
are you still bullish on DUG?
Going long EEM here. Trying a little anti Fly.
Boom,
You are probably wise. I am feeling fucktardedly optimistic this morning, and it may be wholly based on the smackdown the Giants put on the Ray Lewis Thuglifes yesterday afternoon at a swirling Giant Stadium.
As a reminder, both times the Giants won the Superbowl prior to this one (’87 and ’90) it augered a market downswooping of bearish proportions.
Looks like we are three for three. What happens if we repeat this year?
__________
If Giants repeat, Dow goes to a five handle.
Jake – I am so skiddish right now. I’m an optimist, but the market has broken me.
I am one tenacious muddfuggah, always sending myself back into the fray for another round, only to come out bloodied worse than I went in. I keep trying to win, long or short, but I can’t.
I put together a few good days two weeks ago. Made $35k. Gave back $70k last week.
I can’t keep standing in the way. If I miss the bottom, I don’t care. If I miss the top, I don’t care.
Now I just chant “Swiper, no swiping!” and rock myself to sleep like a Romanian orphan.
Sorry about that CBL. Shit, that is just a bottomless pit.
Jake, Is that Giant shit contagious? I know CBL was. (BTW the Ravens = insect analogy was priceless) Why do I feel like a Raven today?
Boom, no worries re: CBL, I’ve made this trip before. Used to bank those folks. As insane as it sounds, I remain (relatively) unconcerned.
But in honor of everyone’s gloom today, and of the one company which is Costanza’ing it’s own fundamentals, I give you one of my favorite R.E.M. tunes:
Dusk is dawn is day
Where did it go?
I’ve been laughing
Fast and slow
Moving in a still frame
Howling at the moon
Morning found me laughing
Up and down, down
Low, low, low
Night suits me fine
And morning suits me fine
I’ve been so happy, happy
Way up high, high
In between
Down below
Low, low, low
Low, low, low
I skipped the part about love
It seems so silly and low
Low, low, low
LOW, low, low
____
Jake, Thanks. Being that I’m a glutton for punishment, any thoughts on RBS common after it’s done going down post reverse split?
Yogi,
I don’t know if its contagious, I come by it genetically, however.
_______
Being that I’m a glutton for punishment, any thoughts on RBS common after it’s done going down post reverse split?
Only to short it as a hedge against the preferred.
Seriously, the preferred has got tons of upside here, a huge dividend yield, and is “safer” than the common, so I wouldn’t mess with the common, unless you want to do lotto ticket size stuff.
________
I’ve been a Giant’s fan since I was a kid. Don’t tell anyone though… (I don’t think I’m as rabid a fan as you though)
It would purely be lotto ticket on the common. From the looks of it it could be back below 5 pretty soon. I’m waiting for a 401K rollover to get some more of the preferred.