Right now I am hermaphrodite trading, holding both longs and shorts. Into this weakness, I am taking off some inverses and I might cover my Transocean Inc. [[RIG]] short, in order to catch a quick upside move.
Basically, I am saddled with a bunch of long/shorts and need to time this fucker just right, in order to bank ridiculous coin.
Wish me luck!
UPDATE: I sold out of 50% of my [[DUG]] position, north of $38.25. And, I sold 75% of my [[EEV]] position, north of $95.
UPDATE II: Selling the [[FXP]] that I bought in the 60’s.
UPDATE III: Buying The Mosaic Company [[MOS]] @ $32ish and more National-Oilwell Varco, Inc. [[NOV]] @ $24.90
UPDATE IV: I am buying [[UYM]] , sub $14. I am getting net long.
Final Update: I upped my cash position to 30%, while reducing my shorts to 20%. Simple math dictates I am now 50% long. My hedges include: short [[RIG]], short Petrohawk Energy Corporation [[HK]] , [[FXP]] , [[DUG]] , [[SDS]] and [[REW]] .
My longside bets are on [[NOV]], [[ROM]] , [[UYM]] and [[MOS]].
I do not think we will run hard. However, I do get the sense the market needs to lift, in order to sucker in some more long term investors. All longs are rentals. My cash position will stay idle, waiting for an opportunity to buy back the inverses cheaper.
Rocky part V Update: I covered my [[RIG]] short, sub $70.
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G’luck !
wow literally in about 5 secs I refresh and dow goes from -.4 or something to +100+
10 daytrades- +$9.22 net.
Gonna go pick some oranges and tangerines. Much more productive now.
Once again the oils holding this shitty market up early. Lets see what happens after Hank and Ben finish blowing Barney Frank
Wow, Citi is dead. Other Banks are doing ok and C is lagging.
GS setting up for another attack on the short side.
Bullshit small rally while people take some profits from the short side.
Go get’m boss !
I am not (yet) taking off the table, my call for a rather large rally tomorrow … but I also haven’t placed a substantial bet on it yet, either
What would happen if the roadies ran TARP?
Anybody knows how much that broad’s hedge fund from Fast Money is up YTD?
I am having troubles finding the 13F on the SEC.
Another piece of shit that I have been shorting since the beginning of November is MCO
What a piece of shit
jump on that bitch, it still has lower to go down to $12
It’s a highly evident tragedy that an incompetent windbag named Barney Frank is acting as a leader of America. Mark my word, until this man is completely thrown out on his melon, there will be no recovery in anything.
This country (USA) and it’s financial/economic system could be run better by a monkey in a clown suit.
DOW to 3500.
yea, MF, Barney is very gay.
Market-
I agree. The cock sucker Barney Frank is dangerous fagot
http://www.youtube.com/watch?v=aIm5Mp-mmRU
Billy Pilgrim is the man. His idea bests anything that we’ve heard from the idiot Paulson. Hell, just give TARP to the roadies to run. Economic problems solved. Way too funny.
I really wonder, WHAT IF the roadies ran TARP? What would our nation look like a year from now? Any guesses?
I just watched the latest Jefferson Krull.
Now I feel much better.
any thought on GOOG here, sub 300?
did anyone get into the ANR short I mentioned last night. I caught it on the upswing at $23.90 and am banking astronomical amounts of coinage.
materials weak again.
smn looks good heah
Still watching DXY and RUT, warily.
Playing “We Won’t get Fooled Again” on the phonograph.
_________
Bennet Sedacca
10:37:10 AM
No positions in stocks mentioned.
credit, RIET’s and Insurance companies
The credit market remains frozen, MUCH TO THE CHAGRIN of commentators that would like I think otherwise. Sure, LIBOR has come in. CP levels has come in as the fed can try to control those parts of the market.
But when it comes to the corporate bond market, trading has ground to a halt. There are a scarce number of new deals and they are all utilities and a handful of industrials.
Enter REIT’s. REIT’s are a perfect storm of a slowing economy, loads of leverage and a need for constant financing. Right.
Then comes the insurance companies. Talk about a mess! Their portfolios are a disaster (I looked at many of them yesterday) and heaven forbid they would have to actually mark their balance sheet to market. If they did, I believe all are insolvent. Their portfolios are rats’ nests, period. And even if they wanted to sell, rotsa ruck, Rastro. THERE ARE NO BIDS, for what they own.
So no matter how much the authorities want us to believe all is well, it isn’t.
Risks are high.
yes Jake..
i love the scream in that song!
Ron Paul handing politicians their proverbial arses LOL
Big Mike:
Karen Finerman’s latest 13F filed 11/13:
http://www.secinfo.com/d1721p.t6.htm
Ron Paul is scaring me. I am curled up in the fetal position with a beer in each hand.
Ron Pauls problem ( also a great asset ) is he needs to get up there with some fucking fire & brimstone, & rip those A-holes a new A-hole, but he’s such a damn gentleman.
He needs some ranting & raving lessons from Cramer. This country don’t pay attention to gentle men. We need fire from the right corners, not gentlemanly discourse. More talk is the last thing we need.
Don’t worry NO STREEN ATTACHED!
Turned the corner? WTF? Which corner is that Hank? The banks have been leading this market lower.
This once again is a joke
Fly question…. So how deep are you fxp ? you didnt seel all of it ? just the lot you bought at 66 bones right ?
I got some FXP sub $63 too.
I am selling about 30% of my FXP.
Juice
The guy’s a kook.
Sales of foreclosed homes showing steady uptick:
“November 18, 2008 · Housing areas that saw a lot of foreclosures are starting to see more sales. In Sacramento and Riverside counties in California, sales have been up for the past six months. The same is true in Prince William County in Virginia. Some people wonder whether these pockets of recovery signal a bottom to the housing downturn.”
What about our little BEAV?
Wacking GOOG, God knows why, likely “because they can.”
I’d say it’s good if it can hold $290 here… for the “batwing.”
_________
RUT green, DXY red. Let’s keep it that way, shall we fellahs?
_________
A short I likey right now is Petsmart (PETM).
If old fuckers (like Devildog) are having to decide on food vs. meds, then me thinks fido is truly SOL.
They just built a ridiculously large Petsmart in my hometown – population 70K.
Fly,
You got any GOOG in your clients’ ports?
I just started buying it for the first time, ever, last two weeks.
_______
Fuck BEAV.I am done with her.
No way. I hate GOOG.
“The American BIDU”= GOOG
Do tell why no The Google?
My guest today, Christopher Whalen, Managing Director of Institutional Risk Analytics, says he’s hearing that “old family friend” Paul Volcker may be tapped to serve in the role for one year, to be followed by Tim Geithner, who runs the New York Fed.
good choice.
I never liked GOOG. Shady advertising model. Advertising is dead on a vine, even in China!!
FMCN.
So we are are opposite ends again… FXI looks to be rolling over on the daily (probably to put in a double bottom).
Stay hedged.
That means Volker is going to come in to do the nasty shit, and then bail.
A good sign.
_______
He used to move the feds funds rate like a Trojan, Jake.
None of this gay 25 basis point stuff. The guy would wake up in morn and move the funds rate by 100 basis points even before he had breakfast. Now that’s a man.
What’s the story with RIMM? She looks like she maybe ahead of her self and
Seems to be getting a little close to resistance.
i know that they are launching the new touch blackberry, but is it going to really be a hit with people and companies holding on to their wallets?
Wow, DUG sucking rhino balls.
Moe
Tech isn’t doing that bad?
Nov. 18 (Bloomberg) — Hewlett-Packard Co., the world’s biggest personal-computer maker, posted a fourth-quarter profit that topped analysts’ estimates, sending the shares up the most in six years in New York trading.
Earnings were $1.03 a share, excluding reorganization expenses and other costs, Hewlett-Packard said today in releasing preliminary results. That exceeded the $1 average of estimates compiled by Bloomberg. Sales rose 19 percent to $33.6 billion, also surpassing projections.
interesting that FCX held its low at 22 ish
T Moe, The Storm (touch) is not the one, it’s the Bold that’s kicking ass.
Feels mushy. Elevator down?
4-Mxplx —
You know what they say:
“Fortune favours (sic) the Bold!”
(Badump-chaaaa!)
________
All Longs are Rentals is my new mantra.
I like the idea of Volcker and then a hand off to Geithner. Good move.
Sniper, look at the hourly on DIG and DUG, neither has made up its mind since Friday.
Definitely. Soft as a grape.
Okay anyone thing GOOG hitting $280 on the dot last week and today hitting $290 on the dot is a bit curious?
In “market fuckery” terms, I mean?
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New longs (as in hundreds of hours):
INTC @ 13
AMAT @ 9.63
Both have billions of $ and no debt. Both well under 2X book/10X free cash flow on annual basis. INTC warned…so fuck shorting it. AMAT has $5 billion in back log and warned too.
FCX is officially a whore!
i had to roll down my options TWICE!
whore