Why do I even bother going long? You bulls are a bunch of headless horsemen.
I am shocked to see this rally unravel. If the Dow closes down today, look for a sharp decline tomorrow.
The fact that tech stocks cannot rally, in the face of robust guidance form Hewlett-Packard Company [[HPQ]], is retarded. There is so much pessimism, so much disdain for equities, it will take the hand of God himself to lift the spirits of money managers and force them to get long.
Some stocks are just getting blown out. It is so stupid, I have no desire to rehash. Let’s just say, the fucking homos from [[M]] are not prancing around today.
Basic resource stocks are in a death spiral to zero. Banks are asinine. And, the gov’t is stupid.
I give up. I’m on a buyers strike. I will reserve my cash to potentially average in, down below 8,000. Or, I might just dive back into some shorts.
Stay tuned.
NOTE: Thank God for [[FXP]]
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A week or two ago , I wrote calls on SRS Nov 220 for $7.00. They may be in the money by todays close at this rate.
Yes I agree with everything you said. Nobody will step in, every single pop gets shorted twice as hard.
I’m hoping we hit SPX 768 so at least there will be a place for people to step in.
Nasdaq is close dropping through key support, things could get real nasty today.
Another day of all red on my board, except for that bitch HK which is just laughing at me.
Send in the clowns, bitch!!
Hmmmm, I think the Fly has a diamond encrusted phallus
We are headed to DOW 2000 all because of some bad home loans. Unravel the past 100 years, lets kill these markets! 200% short is a promised winner.
Jason Goepfert
12:55:30 PM
No positions in stocks mentioned.
Dow Trends
100% is the percentage of time the DJIA has been positive by Wednesday’s close when closing lower by at least 2.5% on both a Friday and the following Monday.
It has happened 6 times since 1897, and the Dow’s average return over those two days was a whopping +8.7%.
Caveat…small sample size!
come on fly..
we all knew this was a rally made of air and false ilusions.
2 drinks of scotch and a glimpse to the markets will help you get back in track..
FCX is going to zero!!! MOS to zero!!! No one will need food any longer. Gold is worthless. Small donkeys are worth millions. Goats are for target practice. Aliens are real unless they are flares tied to balloons.
I sell into large pharma companies and I can assure you they’re not spending, in fact most are 25% less capex than last year. And auto’s arent spending and neither are consumer goods companies. And when they dont spend, then all the companies that trickle down from them dont either. I dont know what is going to improve to make this a long market anytime soon. I know we’re forward looking, blah blah, but companies arent improving anytime soon. Almost all companies that sell to manufactures have pulled their jobs away in the US. SAP, Siemens, etc.
It’s not just disdain for equities. High yield credit spreads are at brand spanking new record wide levels, so there is no new high yield issuance. The Markit leveraged loan index indicates spreads for leveraged loans are again making new record levels. The asset backed securitization makret is down 80% Y/Y, or basically dead.
Equities just aren’t going to have a sustainable rally when there continues to be so much risk aversion creating a lack of liquidity in the credit markets.
No way the lows hold.
Get the feeling this is going to take years and years to recover from? As if there wont be a bid for a very long time?
We need a quick trip on The Fly’s Time Machine.
Will that be broth with or without salt?
It’s a BEAR! Embrace the BEAR! His breath stinks, but stop trying go against the flow. If Jake Gint mentions a stock …say CBL….short it!
Would you like some crust with that?
Take it to zero boys its all over for the market players. BooYah.
fly, as usual you are long and wrong. I guess you’ve been sniffing too much of j’s retarded money supply bullshit. New lows as I’ve stated many times. Keep ignoring my superior intellect at the expense of your own financial peril. Odd no?
AAPL is very close to its Oct lows, which is nice. For someone. I guess.
Holy Shiite muslims. MTW is $5?? They are projected to earn north of $3 next year wtf. MDR is $7, JRCC is $6?????? Reality has gone out the window. Stocks are all trading as if bankrupcy is imminent. Might as well roll em all up close the doors and sell the fuckign fixtures.
Long MER — 10.69 — eat me.
Long AMAT right here: 9.22
REAL Hogan test needs more volume
If I were a CEO I’d be taking my shit private.
The DDog just gave the buy signal .. BIG rally Mañana !
I’m buying the weakness, thx D-canine
wish me luck .. I’m gonna need it ! 😉
Hey Chivas post the monkee
http://www.youtube.com/watch?v=7tfx51C0aCs&sdig=1
Ah yes, life is easy when the big bad bear works for you.
It is going to FLY right through the HOGAN TEST at least down to 7000…
ADY ripping higher everyday.
Fly, speaking of ADY; what you think of WBD @ 19.00 ? Can it pull an ADY from here?
Is it me or is Jeffrey Cooper just guessing with all his Magnum PI patterns and other grotesque gayness. There is no way this fucking market is going to turn up. Its down to 4000 in 4 more days. Fear! Ha! No one is fearful out there with the messiah in charge.
BOOMER Says:
AAPL is very close to its Oct lows, which is nice. For someone. I guess.
Gee, somebody I know was SHORTING AAPL. Oh yeah…ME!
BAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!
fly you are a nimble son of a gun
good one DD.
you ever going to cover?
Gapping – fuck off !
Jeffrey Cooper
01:55:00 PM
No positions in stocks mentioned.
Divergence
The VIX is higher now than when the market hit it’s lows on the 13th at 817 S&P.
There is more fear now than last week. More fear and loathing is good if you are looking for a turn up.
There are also many fewer new lows than at the previous series of lows in Oct/Nov.
Jeffrey Cooper
01:44:25 PM
No positions in stocks mentioned.
S&P Set-Up
As long as no new lows are seen today, we could have a double-down-inside day on the 10 minute bar chart of the S&P.
Checking an hourly chart of the past week: 840 = left shouder, 818 = head, 840 that we just tagged = right shoulder.
Who’s the asshat now, you crankly little bitches…
Bennet Sedacca
01:30:00 PM
No positions in stocks mentioned.
1 Year Bills Reach 0 Handle
The outstanding 1-Year T-Bill that matures 10/22/09 are trading at 0.99% discount.
Treasuries are bid through the roof and insurers like Met Life (MET) and Prudential (PRU) act like there is trouble in river City. And like I said yesterday, I looked through their portfolios and reached for the barf bag. They are train wrecks. Also, REIT’s continue to get unmercifully hammered.
The market seems to smell something nasty in this space.
Risks still remain high.
Lessee: All you asshats BEARISH at 9AM. The you all got bullish all together just at the wrong time – 11AM. Now the market is decining again and you all are bitching
that it should be going up.
Did it EVER occur to all of you ASSHAYS to go to work mowing lawns or stocking Kroger shelves rather than attempting to trade stocks?
Oh. Pardon me. You clowns already HAVE those jobs?
I don’t have any ASSHAY. I use Veet.
Awe fuck DEVILDOG is back. Looks like I better adjust my positions accordingly. Buying 1000 blocks of UYG until 5.50 every nickel down.
I’ve been emailing Cooper since I have his paid service and in fact his comment about being accused of being complacent were my exact words to him the day before. After his long call on AAPL today I SHORTED it again and sent him an email to that effect. Unfortunately, he is a committed complacent idiot. I told him if he doesn’t start getting his direction correct he will not be getting my $800 for the next year. I only pay for performance and his recommendations suck ass. Fortunately, I’m smart enough to know he is wrong. Wake up COOPER! I can come here to hear endless BULLSHIT or tune in hanky panky and bernanke to get jerked off.
This is only my third year of trading actively.
Has it always been this kind of mind fuck?
I remember buying dips and shit, chomping a stogie, thinking I was Midas. Damn if I can’t make one cent and hang on to it.
I’ve started laughing out loud at myself. It is ridiculous!
PS what ever happened to Calvino?
No highlife for you!
Observer – I’ll have you know that I have none of those jobs.
My job is to make something that people don’t want, and to charge a premium for it. Now THAT is a job!
The DEVILDOG be BAAAACK , and BAAADER than ever!
Nice to see you …
One of us is gonna enjoy mañana …
although I wouldn’t bet its gonna be me 🙁
Dear Fly,
I would enjoy this website a lot more with DevilDog
Signed,
Everyone
i’m w/ dog here…this market just needs to f’ing crash…lets get back to times where we buy something and we can watch it go up rather then refreshing my screen every 5 seconds.
Fuckin Dog
Sold MER 11.09…from 10.69
C wants to see sub-8 although this is being defended with TARP $. Tired of watching this pissing contest.
Meanwhile, Calvin pissing on GM.
DEVILDOG still sucks…I miss his wife’s 34D’s
DD, welcome back!
Boomer, Welcome to my world. yes…
Gasoline below $1.15 on the futures market … down from 3.63 in July.
Who needs gas?!
http://www.bloomberg.com/markets/commodities/energyprices.html
My wing man Atilla says we drop below spx 780.
Today’s market tape was a small example of a “Sysiphus Rally”. I wrote about it in my latest post “Sisyphus Ralles… bulls get squashed… over and over again.” It’s basically a study on some of the major bear market rallies we had this year.
“… the boulder came down and smashed a lot of Sysiphean Bulls today.”
If the Dow gets under 8,000 in the next few weeks, i will notch November’s miracle rally a Sisyphus Rally.
How’s this for “justice” in the inverse ETFs today!…
Dow +150, SKF down $1
Dow -50, SKF up $13
… go figure. Panic?
I earned and gave back the same $2000 three times today. And finished the day with a delicious $600 loss.
Thank you, Jesus! My best day this week!
Gio, when you get a chance try reading this: Richard Ney on the Role of the Specialist
http://w3.tribcsp.com/~fredj/ney.html
Today is a prime example imo.
4fl3x… k. bookmarked.
Dirk Says:
DEVILDOG still sucks…I miss his wife’s 34D’s
I only suck 34Ds.
All stocks to 0. Let’s just get this over with.
A no bid market.
Here come the clerks.
Shoot, I’m gonna miss Frank.
________
ahh fuck here we go
boomer you seriously need to stop trading. just stop. seek counseling.
Bad few days for me and my UYG. To boot I just bit my lip, now Ive got a fucking knot in my mouth.
This sucks.