Sorry, I do not make these laws of reason up; I merely obey them.
The Turkey Gods of Thanksgiving have spoken:
“Let there be cranberries with our stock market rally. And, through the powers vested in us, may the stuffing get kicked from the bearshitters, with the full might and venom of 2,000 turkey legs.”
I suspect a one to two week rally is in the cards, then the market will fucking vomit on itself, like a run down ghetto K-mart. Just so you know, whenever I need to vomit in a public area, I pull over and run into a Sears Holdings Corporation [[SHLD]] store then vomit all over their merchandise. On the way out, I tip the Jamaican security guards one dollar for watching my car.
Good stuff.
Via PPT, Top 10 Hybrid Rank movers today:
Huron Consulting Group [[HURN]] Victory Acquisition Corp [[VRY]] Emergent BioSolutions Inc. [[EBS]] Valence Technology, Inc. [[VLNC]] Pharmasset, Inc. [[VRUS]] Carrizo Oil & Gas, Inc. [[CRZO]] Contango Oil & Gas Company [[MCF]] Cubic Corporation [[CUB]] STEC, Inc. [[STEC]] Unibanco – Uniao Bancos Brasile SA (ADR) [[UBB]]
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Damn, that was funny!
They say your pretty Fly for a White Guy….
I love a rally with my Turkey, my god SHLD at $30, no rally for SHLD – 0 you go.
Lampert is a goner, he just continues to screw himself as well as his investors.
SLV GLD, the dollar is about to roll over, its easy fuckin money right now.
Could we have a peek inside your brain and hear what your top picks are sir fly?
“…So if you don’t rate,
just overcompensate…
“Pretty Fly for a white guy”
-music by The Offspring
http://www.youtube.com/watch?v=f7-E1qTVJgE
Enjoy.
rotag Says:
SLV GLD, the dollar is about to roll over, its easy fuckin money right now.
Wrong. The Dollar is ready to make another leg up. Markets another leg down. Thanksgiving and Christmas have been officially cancelled.
“Let there be cranberries with our stock market rally.”
LOL.
____________
“Carrizzo Oil & Gas?”
I hear they make a nice anduile sausage as well.
Good w. gumbo.
______
CAP-
It seems you’ve changed your tune. It was only a couple of weeks ago when you said something about the market bottoming, due to a lack of volume. I recall, you were very confident. That was over a 1,000 points ago. LoL Do you remember that?
Donny! Where you been? We thought maybe CAP did a “Joe Pesci, a la ‘Casino'” on you in the desert.
________
Love to eat turkey
cause its good
Love to eat turkey
Like a good boy should
cause its turkey to eat
So good
Turkey for me
Turkey for you
Lets eat the turkey
In my big brown shoe
Love to eat the turkey
At the table
I once saw a movie
With betty grable
Eat that turkey
All night long
Fifty million elvis fans
Cant be wrong
Turkey lurkey doo and
Turkey lurkey dap
I eat that turkey
Then I take a nap
CAP-
It was only a couple of weeks ago when you said something about going long, and banking “egregious 40-50% gains overnight”. How did that work out for you boy? Now you say we’re set for “another leg down”. How much money have you lost the last few weeks?
Wrong, Wrong and more Wrong!
Jake-
I didn’t see CAP in Vegas because he stayed in his room snorting blow, and entertaining 2 gay sailors!
Hey fly, is that ibankcoin website on your picture?
Wow to the detail.
Fly
Has the Dog vetted your predictions before you went to the presses?
He’s going to be awfully angry. This could send him over the edge in a fit of barking fury.
DONNY – F U . I was at TAO on Friday night and Tryst on Saturday. Were you the fucker with the Rolex Submariner waiting in line for 2 hrs at Tryst on Saturday ? I was the fucker with the pin stripped suede Versace jacket and the True Religion jeans with those those 4 hot chicks in my arms walking past security without having to wait. VIP Bitches.
BTW Asia is taking a shit. Guess they didn’t get your memo FLY. Don’t worry. You will be bearish in ….oh about 12 hours or so.
Annon at TAO and TRSYT was me.
fly, you’re schizophrenic. Very sad that you can’t find the right direction and stick with it. New LOWS for you.
Anonymous … when I go to Vegas, it’s to drink lots of Stoli and skull fuck pit bosses, not to dick around in nightclubs.
j, prepare for death by stupidity.
How so Dog?….
I’m around 35% invested with most around these levels or a tiny bit higher. You’re an idiot.
In fact you’re just as bad as the idiots buying at 14,000 as you think trends move in linear direction. Obviously you have little to no market experience turning this into uninformed idiocy.
And stop wishing hardship on other people, it’s really bad form to be so on a trading site.
The market is looking for ANY reason to rally, it barely flinches at bad news now.
Get long.
I was at TAO on Friday night and Tryst on Saturday. Were you the fucker with the Rolex Submariner waiting in line for 2 hrs at Tryst on Saturday ? I was the fucker with the pin stripped suede Versace jacket and the True Religion jeans with those those 4 hot chicks in my arms walking past security without having to wait. VIP Bitches.
http://www.hcwdb.com/
I didn’t see CAP in Vegas because he stayed in his room snorting blow, and entertaining 2 gay sailors!\
A man’s gotta do what a man’s gotta do to get his fair share of railies in Vegas baybee!
____
Seriously, the last post entitled “Tonguey McCooties” is your exact outfit.
Faux hawk?
I was the fucker with the pin stripped suede Versace jacket and the True Religion jeans…
Maybe the “gay sailor cocaine acquisition ploy” came easier than I had first imagined?
_________
Whoa….Fly dude…read this:
http://market-ticker.denninger.net/archives/663-Dont-Believe-The-Rally.html
TradingGoddess posted it via Twitter. Interesting stuff, but it goes against long term bottoms. Food for thought.
Sheep hard.
The Fly has gone all bonzo rally monkey. Egad.
you guys do realize futures are down 108 while you fucks keep talking about a rally.
stay in cash until we get confirmation.
The only thing the Turkey Gods will provide this year are the trots.
The runs.
The big Die-o-royaaaaaaaaaaaaa.
This country is so fucked now that old Beardy doesn’t even know where to start.
Staple your Balzac to the inside of your thigh and ride SRS to $300.
A few months back at TAO – great times – how was business?
Anyone up? Bueller?
Gobble. Gobble.
Shepard –
KD is 100% correct. And full-disclosure: I’m so bearish that I make Nouriel Roubini look like Ben Stein. Having said that, the market, IMO, is going to experience another couple violent two-to-fifty bear-market rallies on it’s way to DOW 2000, S&P 100.
My gut tells me that Fly & Andy are dead on short term.
I wouldn’t be suprised if the market has a 1000+ point day very soon.
Loaded up on SKF puts,XLF and SSO and others to hedge my 1500000020000007009% short position.
Top picks: FXP, NOV.
Mmmmm…. cran-burries.
Fly, check out Danny’s, when you get a chance… see if it makes any sense.
___
Hey, F U C K T A R D S Schizophrenia is hearing voices and Multiple Personality Disorder is or for that matter self explanatory
Got to be schizo, else lose it all fucktard.
What would make the market rally 1000 points?
Anyone?
Check out Roubini’s latest – his near term shit would make even Devildog blush.
Longer term, the whole world is fucked.
Long SPAM (kabobs), long SRS.
FLy,
I think top pick should be EEV – China is up to shenanigans and the lack of visibility hides the rot…so the voices are saying…
Are you ever going to trade your PPT picks?
You got NOV on the brain man.
By the way, that whole throwing up in Sears and tipping the guy on the way out was first rate stuff. Hats off to your doctors, they have done remarkably good work in stemming your obvious mental illness. Would love to know what type of meds they keep you on.
I wonder if that’s because OIH and XLE are rallying here, counter to oil?
Use your head instead of your hands, working man.
__________
Thanks Working Man, I appreciate that.
Don’t you worry about the PPT.
I use it every day.
Bears set it and forget it. Bulls jump around like tweak all day.
death to polo shirts.
RL!!
What’s the PPT say about LHCG?
Yesterday 11:07pm
(US) A grand jury in Texas has indicted US VP Cheney – Press
Hey Fly, I found the latest BEAV for ya, MDR. Mua ah ah
How are you doing month-to-day Fly?
better than you.
Assholes, in this market, you gotta take a short term view (~2 weeks) and then adjust it every day or even every other hour. I’ve been shorting XOM, HK (thanks Fly) and FSLR since last week. I picked up UYG and UYM and re-shorted XOM yesterday in the contra hour.
XOM is getting the homo hammer to earnings this quarter.
China is rallying. We will see what happen to FXP tomorrow.
Fly, nice to have you aboard the for retards only, Death to Turkeys (and bears) Day, Rally … and overflowing into early Dec. Can you say Dow 10K/SPX 1000? Then, I am also with you (and the Devils Dog), for fresh, brand spanking new, multi-year lows into the January Inauguration of our new Leader, Comrade Obama and his team of helpless fixer-uppers.
Shanghai is up 6% but Hong Kong closed down. Europe down. Oil below $54 – fuck XOM.
Bonds Paint Bleak Picture
By Jim Cramer
RealMoney Columnist
11/18/2008 6:42 PM EST
URL: http://www.thestreet.com/p/rmoney/jimcramerblog/10448762.html
You have to recognize the divergence between the total collapse in the credit markets that occurred in the last few days and a closing rally that seemed like it was a true hold of nasty levels.
I am seeing mortgage bonds made up of FICO 700 plus, Triple AAAs, trading in the 30s. That means we are in huge trouble. We have basically given up for now trying to fix the mortgage problem. I have seen high yield bonds without bids. I have seen Treasurys trade to absurdly high levels because no other paper is worth anything.
And then I see beautiful sell programs in part because Chevron (CVX) and Exxon (XOM) are being bought in huge amounts to get things rolling.
The struggle between bonds and stocks isn’t and hasn’t been playing out right for two years now. The stocks are signaling that we are finding a bottom. The bonds are indicating that there is no bottom in sight.
When in doubt, go with the bonds. And that is what I am doing.
At the time of publication, Cramer was long Chevron.
Anyone think solars have fallen far enough for a bounce today?
Solars – I think we have a few more weeks to short strength.
The sun has shined for the last time.
short the pop on ldk and tsl.
What is Cramer yammering about?
I am seeing mortgage bonds made up of FICO 700 plus, Triple AAAs, trading in the 30s. That means we are in huge trouble. We have basically given up for now trying to fix the mortgage problem.
We know that the AAA ratings on mortgage securities mean squat, because they were based on flawed models (nationwide housing prices never drop) and a willingness to bend over to please the client. We also know that FICO scores mean squat when the home”owner” put a pittance down and is underwater by $30-300k. Where does Cramer expect that crap to be trading? In the 30s means that that part of the market might actually be working. Correct pricing is the fix for the mortgage problem.
If he’s waiting for crappy securities to trade in the 80s or thereabouts before he declares recovery, he’s going to be sitting on his hands until the last principal payment in the mortgage pool.
Sure, there is a lot of nastiness in the bond markets, and a good part of it reflects the bad state of the economy and justified pessimism about the next year or more. But the problems also reflect the fact that the rot in the system has been exposed. Ratings are bogus. Overleveraged counterparties are blowing up. Chains of credit default swaps can crumble if there is a single weak link, and the lack of transparency means that you have no way of knowing who is part of your chain. Credit markets that are pricing in worries about such landmines are probably not the best leading indicator of the future real economy.
Bond market says we go lower immediately. That was a fakeout rally in the indices yesterday. Gold and silver must be shorted with conviction right here, right now. Watch 8,000 get taken out in the next 3 days (maybe today). This is no time to try to squeeze a few extra points long.
Doug Kass
Memo to Jim ‘El Capitan’ Cramer
11/19/2008 7:42 AM EST
Upon the completion of the InBev acquisition of Anheuser-Busch (BUD), $50 billion of capital (Anheuser-Busch’s market value) was distributed to shareholders.
About 11% of Anheuser-Busch’s shares were indexed to the S&P 500.
A portion of that 11% (about $1 billion) went into the shares of Stericycle (SRCL), which replaced Budweiser in the S&P. The balance of about $4.5 billion was distributed to the other 499 stocks in the index, depending on the market cap of each company.
This created upside pressure on the market in the last 15 minutes, which I discussed in The Edge throughout the day yesterday.
Position: None
The Lehman 10-year note ignited higher yesterday above a multi-week consolidation zone. CPI numbers reporting biggest drop in inflation since the 1940’s. DOn’t get sucked into this bullshit rally. There will be no rally. Either stay in cash or get short.
Phil
I CPI drop is not deflation. 3 months ago you would have been complaining about the rise in CPI.
the drop is a good thing, a great thing actually as it helps consumers or is kept as extra margin.
And of course, as the bond market is CPI sensitive the Lehman note could trade higher.
You could actually see a drop in gold etc. and stocks going higher. I’m not suggesting that is the way to go, but that combination is quite possible.
no rally from futures
J,
You’ve got this all wrong.
We are currently witnessing massive asset price deflation.
What you keep refering to as inflation = monetary expansion.
The definition of inflation is ambiguous: it varies depending on whether you’re a monetarist like Milton Friedman or whether you believe it’s purely symptomatic of general price levels. I’m less of a theorist so I focus on what matters in the practical world, which is prices.
Right now, the monetary base is expanding rapidly in the US and across the world but the effects of global deleveraging, rising savings rates, plummeting housing prices and falling corporate profits on a global scale means the latter is more than offsetting the former.
Some price categories are dropping rapidly (ie. check gasoline prices, home prices, retail good sales). Currently, the environement in the US can be classified as disinflationary because there’s still some price growth being reported in government stats. But watch for us to eventually go negative in CPI. It started happening in Brazil earlier this year (PPI and CPI had gone negative — they have since gone positive again because of the dramatic depreciation in the Brazilian real, which has made dollar-denominated import prices skyrocket).
Gold and silver are not the place to be. That’s a fact — and the market will prove you wrong via continued lower prices for both metals.
No Phil
We’re seeing an adjustment take place from the previous monetary expansion. It’s not deflation.
Please explain to me how the previous rise in CPI of a few months ago was bad and the fall we are experiencing now is also bad?
this is the nuts-oid thinking that really is getting under my skin of late.
Brazil’s rise in CPI PPI if brought about by currency depreciation is a bad thing as it raises the cost of living and reduces living standards.
We should welcome the fall in the CPI.
The adjustment taking place in the credit markets is also a good thing as it is clearing out the crap.
the stock market is falling and can continue to fall is it figures out where future earnings are going to be.
I never said we should buy gold either if you read my comment carefully.
GM and Chrysler merge….Obama appoints Nardelli Secretary of the Treasury….Americans have a choice of 3 vehicles all charcoal gray…Malibu–Ford Truck–and Camry. Good Times!
“like a run down ghetto K-mart” been there…man that’s good.
and the TED spread is 5 basis points lower to day.
auto industry hoocie coo. man is there 11th way to short crap., dont do it now, bailout is comming, long F GM
i feel a bit positive about markets.
im not sure ( as always)..
but we could have a gobble gobble rally.
ppt looks interesting , lets do some d.d. on it and check.
on the other side,
Devildog, your insights are quite apreciated, you are the yang and fly is the ying,..or maybe you both trade on different time frames.
keep BARKING!!
Nov. 18 (Bloomberg) — John Paulson, the hedge-fund manager who generated sixfold returns last year with the help of bets against subprime mortgages, has started buying debt backed by home loans, investors said.
Bonds linked to U.S. residential mortgages fell last week after U.S. Treasury Secretary Henry Paulson abandoned plans to buy distressed securities using money from the $700 billion Trouble Asset Relief Program. The ABX-HE-PENAAA 07-2 index of credit-default swaps tied to AAA-rated securities has fallen 13 percent to 36.25 since the Treasury’s announcement on Nov. 12, according to Markit Group Ltd. That indicates the bonds might fetch about 36 cents on the dollar.
John Paulson, whose New York-based Paulson & Co. oversees $36 billion in assets, said at a conference in June that he sees “opportunities this year” to buy mortgage-backed debt. While he said it was “premature” to start buying, the ABX indexes have since fallen 35 percent.
“Paulson’s timing is typically very good,” said Louis Gargour, chief investment officer of LNG Capital LLP, a London- based hedge fund that invests in distressed credit markets. “Pulling the TARP program was the last straw for this market. Now that Paulson is buying others may say this is a great trade.”
Gargour said he isn’t buying residential securities for “technical” reasons, including the prospect for legislative changes to home-foreclosure rules in the U.S.
they have since gone positive again because of the dramatic depreciation in the Brazilian real, which has made dollar-denominated import prices skyrocket.
????
If the real is depreciating, then gold should be appreciating, no?
If I lived in Brazil, I’d have a bagful or two in the family safe, guarded by the family Lurch, with the family Uzi.
_____________
This market has more snakes in her head than Medusa…as mommma used to say,gotta run away from those kind of skanks.
Americans have a choice of 3 vehicles all charcoal gray…Malibu–Ford Truck–and Camry.
Sclew Mariboo!
You buy Camly, Joe?
__________
DXY and UUP, breathe in, breathe out. Those are your keys.
J, please hammer DXY today, huh?
Call a few buddies. I’d like it down at least a buck, thanks.
________
Futures not looking so hot.
I predict market will be down today.
yea Jake the buck deserves a through kicking from here, hey?
DXY down 0.60!!
The Turkey Gods have spoken!
GOBBLE GOBBLE!!
_______
If one wants to trade long today an index I would say the Q’s,QLD (they’re up while futs are down) and maybe EEM if dollar goes down. GLD,USO if dollar is down v Euro today.
listen to Jake .. the USD holds the key to any rally right here … if the buck tanks, stocks will rise
– Byron Wien, the chief investment strategist at Pequot Capital Management Inc., said the S&P 500 Index will advance to 1,200 during the first half of next year after the government’s rescue stabilizes the economy. The benchmark index for US stocks must surge 41% from yesterday’s close of 850.75 to reach that level.
UUP down 24 cent!
Die George Washington, Die!!*
_____________
*(the malign paper currency of course, not our blessed Founder.)
Wien was a a Wienie at MS in the nineties.
But smaht.
_______
Where does oil go??
$20?
I’m starting to think it might be worth nibbling on USO every 10 dollar drop in crude at $50, and 40, and $30, and $20.
Consumer prices drop by largest amount in past 61 years as energy prices see record plunge
WASHINGTON (AP) — Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.
The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947. The drop was twice as large as the 0.5 percent decline analysts expected.
PHIL
The big drop reflected not only a huge fall in gasoline and other energy costs, but widespread declines in other areas. Core consumer prices, which exclude food and energy, fell by 0.1 percent last month, the first drop in core prices in more than a quarter-century.
The big retreat in consumer prices reflects a remarkable turnaround from just a few months ago when a relentless surge in energy prices raised concerns that inflation could get out of control.
So core CPI fell .1% which is a good thing as you would expect restocking to be taking place as evidenced by Fly’s weekend shopping spree extravaganza and observations..
The real drop in CPI was from energy, which is a fucking terrific thing.
It also gives the beard a further chance to cut rates later next month without having to worry about the bond market going haywire as the CPI is well behaved.
I can’t believe how some of you are treating this as bad news. It’s fucking great news. The best news we’ve had in quite while.
We freaking know there is de stocking and that adjustment is taking place. The price of energy has dropped like lightening and is having a great effect on consumer prices.
The bond market behaves itself and the Fed cuts rates.
In fact get ready for another cut in rates all over the world as this gives EuroTrashLand a chance to accelerate their own moves.
This in itself is great for stocks.
Hey Bro.
Should I average down on my SLW?
Today marks the beginning of a market downturn.
Where the fuck is Fly when you need him.
Hey Fly talk some freaking sense into you readership before they go face a bankruptcy judge willya.
And Bryon Wien has a tiny pecker.
Kevin Depew
09:08:27 AM
Position in QQQQ
It’s Never Easy
Two things about the S&P 500 and Nasdaq-100 daily juncture. Today is important because of the higher close yesterday which raises the potential for qualified downside breaks IF the close is low enough to blow through our major levels.
For the SPX the major level is 777.21. A close below that TODAY would qualify the break and suggest the longer-term target I had penciled in for next year, 593, is in play.
For the NDX the level I ma watching is 1098.54. A close below that today would qualify a breakdown and suggest the longer-term next level down of 839.28 is in play.
On a shorter term basis, if those levels are not closed beneath, the most bullish price action today would be a move below the lows of last week for both ND and SP. That would perfect the recent buy setups that followed last week’s buy signals on both and without closing below our longer-term levels would be yet another sign of tradable exhaustion off these lows.
Those are the parameters. My posture is short-term bullish but longer-term bearish. It’s never easy.
NOV !
The goto stock.
Jake,
If you’re in Brazil, yes, gold must be bought because it’s an inverse play on the US dollar. In fact, gold has outperformed all foreign currencies expect the US dollar and the Japanese Yen in the last 3 months.
For US investors, though, I disagree on buying gold because the US dollar continues to be a play on global deleveraging.
The negativity is so thick that you can’t cut it even with Fly’s ego. Many here are going to lose significant money on the short side in the coming week. Not Fly though. He knows the Turkey day rally will be a thing of beauty.
Besides, max-pain on the futures is significantly higher. And there are so many fucking puts o/s at the 910 S&P 500 strike that the big money will work it’s ass off to pull the market significantly higher in the coming days. They can’t have all those fucking puts expire in the money.
Phil… dollar down today… on a break.
Bro ?
You mean “average up,” from your last buy, no?
_____
damn Pirates stealing the ARabs oil ships… Any thoughts on the big C today
We need to retest the 1987 lows. I don’t think they trust them and had been worried about them since 1988.
First of all, Jake’s brother (this one anyway – there are 4) would never say (or type)’Bro”Brah’ or any such gaiety.
Yes to the SLW question imo.
JG – that wasn’t me (Jake’s brother)
question… how many of you work within the same office ?
We all do. Fly has the window office and won’t share it with anyone.
CitiBank = Fortune Cookie
Good to have your back Donny.
Open for business, c’mon in!
I’m feeling it … an explosive rally, that is
or selloff .. something is gonna xplode
I’m hoping its the DevilsDog
How does DECK go up in the face of GCO news?
http://finance.yahoo.com/q/cq?d=v1&s=deck%20gco%20pvh
The CEOs of the big three automakers flew to the nation’s capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.
hang your head in shame fellas.
keep your eyes on the dollar & bonds … if they both sell off, we rip higher
Is a momentary green print considered an explosive rally?
STOP THE PRESSES!!
Until stocks show better health, you’re better off waiting and watching.
Rev Shark still doing nothing.
Carry on.
Jeffrey Cooper
09:45:14 AM
No positions in stocks mentioned.
Buy Set Up
Dollar dropping look at the Bullish Dollar Fund (UUP) breaking trendline and gold is exploding.
Seems to confirm the buy set up for stocks.
Ah devil dog.
reminds of the funniest Australian poem about a mangy dog.
Coupla grifters were “fishing” in a creek using dynamite. They threw a stick in the creek and while they were hunkering down to protect themselves a grifter’s mangy dog jumps into the creek puts the dynamite stick in its mouth and then goes chasing the grifters thinking its a game of catch…… and on it goes.
devil dog is like that when the market is rallying.
If Jake decides to buy the PPT he should get the family discount as he has almost enough brothers for a basket ball team.
AAPL is go.
You negative fuckers are going to get your asses kicked. We’re headed to 910 by Friday. And if it blows past there, we’ll very quickly get to 950. Options expiration pull higher in the works.
TC — I actually have enough brothers for a basketball team.
DXY anyone? Down a buck, thanks J!
________
For the record, Jeff Cooper notices about 72 buy setups per day.
Down a buck?
Dollars just a little weaker ag the Euro.
Ginnie Mae 6.0% – 30 year Up 12 at 101.281
Fannie Mae 6.0% – 30 year Up 9 at 101.281
Fannie Mae 5.5% – 15 year Up 4 at 100.781
Fannie Mae 4.5% – 7 year Up 6 at 100.718
Fannie Mae 5.0% – 7 year Up 0 at 100.609
Ten Year Treasury Note Up 14 at 102.312
30-year Treasury Bond Up 32 at 107.5
Above are bond prices in 32nds as of 10:25 am EST
TC: Jake + 4 = 5
If there is no deflation why is there a hot air balloon in my backyard?
J,
You’re so wrong it hurts. The drop in energy is not a “great thing”. It’s symptomatic of a precipitous drop in aggregate globally consumer demand coupled with deleveraging. In fact, if the plummeting oil price were such a “great thing”, stock markets, forward-looking as they are, would be igniting.
The “Turkey Gods” are gay.
-DT
I’ve got to go deleverage my bowels I should not have put that Monster Energy Soda in my coffee man.
J,
Looking at DXY (Dollar Index Spot Price)…down 58 now, but was down a buck earlier. I think that incorporates a basket of global currencies. Could be we are down against the yen, and the carry is coming back?
UUP is another one I look at. Down 21 cents right now… going the wrong way…
_________
Phil
FFS, yes the consumer is troubled and the de-leveraging been going on. We know that. It’s what we’ve been happening for a while now.
So let me ask you, would you think it would have been better if CPI was up 1% in this climate and oil was hanging around at 120 bucks a barrel?
You think it would have been better if the retailers didn’t discount and hung around with the stock?
Stop it.
Boca – can you help me sell my blood on Amazon? I need some Christmas money.
Turkey rally will be gay unless bonds & the Dollar crack
exactly phil. well said. SRS- dance with them what brung ya…
Dunno what’s moved in the index, Jake as I really look mostly at the majors and have never traded the contract. I presume it also has its own demand and supply within a limited range.
They started selling into a +45 DJIA rally. Sick.
You fuckers calling for a rally are degenerate OTB gamblers. Someone explain why common stock prices should rally when credit market instruments, which have a higher preferred position in the capital structure, continue to be sold or whose markets are dysfunctional.
Junk bond spreads continue to blow out and break new records almost every day now. The new issue junk market is closed. Leveraged loan spreads are at or near record levels. The primary and secondary convert markets are in even worse shape than junk. Convert arb hedge funds have blown up. The securitization market is barely breathing. Investment grade spreads are very near the widest in post WWII history. Everybody drew down their unused bank lines in Sept/October after Hank and Ben went on TARP TV and scared everyone shitless, so the banks aren’t going to be in a mood to do much new lending. Banks with $2 trillion+ balance sheets like Citi and BAC have stock charts that look like they’re headed to $0.
And those are signals to buy stocks?
Welcome to the Costanza Rally ( read: selloff )
what a market!
J–
I had just assumed it was an aggregate, and its price was reflective of people trading the individual currencies within it, and not so much the index (excpept perhaps as a hedge?).
_______
A $5000 check to every American would do wonders for the economy, mortgages, retail sales and credit card payments.
The $1.5 billion cost is about what we are now HANDING to the bankers and brokers. There is little or NO inflation risk with this idea, and whether the Federal Debt is $10 trillion or $11.5 trilllion is insignificant.
Just what we need. Another bear converted to serial bottom caller. Asshats unite!
I just sold half my shares(500) of fxp at 80 bucks, bought at 69. Holla and swalla bizitches…
A $5000 check to every American would do wonders for the economy, mortgages, retail sales and credit card payments.
Why not just write yourself a $10,000 check?
Then put your kids on payments, and tell them to get cracking.
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You bought fxp at $69 and didn’t sell yesterday but you sold today? Uhmm k…
And those are signals to buy stocks?
To George Costanza, yes.
Off to put a bid on a nag in the fifth at Churchill.
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DevilDog wins again !
going down fly arent’ we qqqq points to lows freefall
I’m all short today , from pre market
Jake,
I still have a bunch and wanted to free up some more cash. You say it all the time the market is like a 16 year olds dick in the playboy mansion doing the helicopter ? all over the place. I should have bought more SRS.. what are you guys looking at now ? I like the short treas etf
last comment was mine
J,
You’re dancing around the issue. Now you’re mulling the MERITS of retailer mark-downs(?). No one here is trying to assess whether retailers are doing “the right thing” moving inventory at discounts (in the face of waning consumer demand) or whether gas retailers are doing “the right thing” (amid a weak oil price environment and a squeezed consumer). The debate here was never about the qualitative merits of the rational decisions made by economic agents.
The original discussion was: is this an inflationary environment. The answer? No.
We are in the following stages:
Current: Disinflation
Next: Deflation
You can post as many links to the Fed’s balance sheet as you want, but you’re not going to convince anybody that prices are rising.
Period.
can you be the greatest country on earth without a big carmaker. Yes, the only way to be the greatest is without a big carmaker
we just firmed up/ hmm
Is anyone watching SRS? Hitting against its previous high right now. Resistance and reversal or does it push on to higher highs? FYI – The STS says to go long next Tuesday (at Monday close) for the T-Day seasonality trade.
it shows cleraly there’s no bulls with balls out there ane the bulls out there are still not afraid to dye ( but they will eventually , deaths starting today , afternoon )
watch the qqqq heading lower , then trying to head high , then again lower , ( headed for the bottom , still )
mark hanes discoveres rationality, Will Obama follow?
Interesting article to bring home to your kids…
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Been holding SRS, now through 200, on its way to 300.
As turkey is to salmonella, the rally is to-
Francesco
You can’t a bull without a set of balls , son, otherwise you’d be a steer.
Fly can you check DDP on your trusty machine please
Where is DD when you need him?
B-U-U-U-R-P !!!
Pass the giblet gravy please !
.
Hotdogs down hallways ?
Geneticists will eventually discover a method that enables plants to produce the animal protein required by human beings. Scientists will finally realize that this process is actually feasible through genetic manipulation. This realization is to be expected very soon, although its enactment will not occur until much later. Blame for this delay can be placed on the anti-genetic-manipulation gripers who, insanely and incomprehensibly, are against gene technology and gene manipulation. Anti-gripers’ efforts must be blamed, therefore, for the burden upon life for long-time mass-breeding, mass-transports and mass-tortures of billions of animals. The solutions brought about by vegetable-animal protein production and a perfectly acceptable meat substitute could have been effected long before through gene-technology to be
marketed as food supplies, were it not for the decades of insane anti-griping efforts that impede these actions. The blame for the suffering of many billions of animals must be directed toward these idiotic gripers until they are ultimately forced into silence and kept quiet. Only then will the ills of mass animal breeding and all other related tortures for animals find an end.
The predictions also failed to mention that scientists will soon realize that Earth’s atmosphere is truly not conducive to prolonging human longevity. Although mention is made in the predictions of the genetically-manipulated descendants’ adaption to the Earth’s atmosphere, no information is given about scientists discovering the Earth’s atmosphere being unsuitable for human beings,
and the fact that it contributes greatly to their rapid aging process. Furthermore, no mention is made about scientific discoveries which will, supposedly, lead to the imminent production of air that is more healthful and beneficial to the human body than before. This air will be a different yet more suitable composition and will be available for purchase both in bottles for personal
consumption and as “little life extenders”. Currently the oxygen-nitrogen proportion of terrestrial air is not only unsuitable, but its oxygen content is much too low and it also contains a variety of dangerous gases inhaled by humans.
Volume at 840 was not impressive. Very weak defense of that key area.
Looking like death to the bulls.
If they don’t come in at 811, the bulls will have to live life without balls.
Jakegint,
Missed your post from way before — yes, the dollar continues to be a buy on weakness.
The AAPL is no.
wait for aapl to break support later today , then later next days to break lows , then watch the market to be sucked sharply in a toilet flush
(where very badass hell beasts scream for revenge)
I am very heavily short gold right now on this morning reversal. Holding this one for a big move to the downside.
Costanza rally of death
put/call going thru the roof
players scrambling for protection
that will eventually yield a big rally but from where?
I was wondering what to have for dinner tonight, steak popped into my mind after that read. Odd? No! Thanks.
UUP broke it’s trend line, AND killed my father.
Therefore, it mus’ die.
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Bruce, look at the UUP 60 day, 15 minute chart.
Take a line from the 11/13 high and draw it down through the 11/18 high.
Interesting, no?
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UUP is setting up for a mother-of-all short-squeeze rallies out of this beautifull triangle pattern.
Commodities are done.