Can it be this simple? The Turkey Gods are gone, so now the market shall plummet into a deep abyss?
I knew short sellers would lean hard on this market at the first sign of weakness; but this is ridiculous. What’s even more ridiculous is the tepid spike in FXP.
Call me crazy, I think it’s too late to sell, following a quick 5% dump out. As you can see, the market is like a funnel, with a wide entrance in—-but woefully small exit out. Across the board, people are panicked at the first sign of weakness, which makes this fucker of a market incredibly hard to stay long— for a duration longer than a few days.
Nonetheless, with my money, I will sit and watch, instead of cashing in my chips.
NOTE: I am not buying, since that would be stupid. I just need more time to evaluate the tape. And, because FXP is such a laggard, I may buy more, just in case.
I’m ready for inverse etfs to rocket higher.
Fresh lows, ovah heah! Get your fresh lows!
Not a fan of Hillary. Just saying.
This market is full of IED’s.
Juice,
Agree re: Hillary.
For whatever reason, I think this market is a buy though. Not that it’s easy.
-DT
FUCK FXP! This shit monkey doesn’t move for shit. I am in at 59 and still under water. I will stick with TZA for now with smaller amounts of capital.
It can’t be this easy can it? The Market is just going straight down just as we all expected today.
Q’s coming close to support.
Just as Donny predicted:
OU jumps over Texas in the BCS rankings
FXP rallies off the Wednesday close
Fuck Yes!
8)
BTW, New Obama lows in the markets are coming in January & crude is going to trade in the thirties!
Watching the Obama presser is reminiscent of JENN-GISS khan, no not really, but it does remind me of an old Beastie Boys classic.
And now I’d like to pass the mike to…MC HillDog
And now I’d like to pass the mike to…MC J-Napolitano
And now I’d like to introduce…what’s up…E-Holder
Not so sure, DT … we may, or may NOT, make news lows before the handoff in January. Too early to call but December will be full of potholes.
Speaking of marijauna, POT displaying relative strength.
people are panicking?
What are you talking about? Is there some kind of positive data that you are clinging to?
Why the market jumped last week was the Great Mystery. But that will be erased — unsurprisingly — today.
Goooooooooo Obama … not
someone please wake me up in 4 years. i cant take it anymore!
I liked it better when Bush said he would “smoke em out of their holes”
what is this shit? I want my gunslinger back!
Bought a little more C here and bought some KBE. Also bought sprinkling of EWJ.
What the fuck is up with GM?
It took a big dump.
GM is a great stock Ass it’s heading to 30 in a month.
just kidding.
There’s a lot of short option plays in that crap at these low levels
Obama is having to defend his Hilldog as Secretary of State pick and is getting his ass handed to him by the press.
Like McDonald’s says…”Do-do-do-du-du, I’m lovin’ it.”
Fly:
implications of GE possibly lowering guidance tomorrow?
Are you still in GE?
Anyone see any alligators down here? There are some signs they were here – bloody bull carcasses everywhere – but I think they may have escaped.
FXP has been cancelled. Anyone long it will have their money evaporated faster than camel piss in the desert. If the market is down again FXP will probably go down, fucking scam of an ETF.
So long as Jeff Immelt runs the show at GE…GE is a sell. Immelt has not the tools to lead this company on the path to recovery. Nothing personal…I just think he is a very weak leader.
I believe they tried to cancel Christmas last year also. It didn’t work out so well for the bears.
Gappy…FXP is twice the inverse of FXI. If FXP is a scam, the FXI must also be a scam…since they do correlate according to their charters (FXI down 4%, FXP +8%). What makes you think it is a scam?
Jimmy
Still long GE.
I sold a little less than half of my Citi position last week and may sell the rest. I am still up big.
I just want to watch how the market reacts to adversity, before I make any big moves.
“…getting his ass handed to him by the press…”
————————-
What press conference were you watching ?
Obviously, not the one the rest of the world was watching !
.
Fly,
Reconsider…Today may end up engulfing 3+ previous days, then the buyers will REALLY panic.
Good luck.
Just bought some S&P index. Put a stop 25 points away and going to bed.
Fuck it, this is a stupid move, I think.
Oils will determine the direction of this market. As long as they continue to fall along with the commodity the market will follow suit. The oils are the only companies that continue to hire and that continue to increase capex. If oil prices continue to fall it may make some of the oils to reconsider their capex, hiring and contracts with the oil service companies.
It wasn’t too late to sell last week, when I said to sell.
Silly Fly;
What’s that saying…”If the Bulls eat Turkey, then Bears will run a train on Santa?”
FYI: “Train” does not mean a transportation vehicle
I’m back humping a bounce…
1000 BGU 31.77
1000 QLD 23.88
lets see what happens
Every time I look at FXP I long for EEV…funny while Shanghai was losing $s daily FXP was also going down and now that the Hang Seng and SSE were up marginally FXP’s reaction is muted…it was really looking as if it was trading in an attempt to be predictive to what move may happen in the overnights…fuck if I know now…
One day does not make a trend, you idiots.
Just calm the fuck down and go get a sandwich.
Alf,
If a question makes the President-Elect answer by saying the following: “Hahaha, obviously you guys are having fun with this…” (paraphrased) and he completely deflects/ignores it.
Then, yes, I think that qualifies. They also asked him pointed questions regarding India/Pakistan several times to which he said he would not comment on it right now. (Great leadership we’re getting for the next 4 years)
The man can say nothing better than anyone this world has ever seen.
Shedder-
I’ve been following your comments. You’re fucking brilliant!
You people trade with your nuts.
Anybody buying TBT here?
I really want to be bearish for about a week or two but I have to say that I took a road trip over the holiday. I can tell you with 100% certainty I felt like I had more money. Yes I know it wasn’t really a big deal but I was able to fill up my vehicle for $32 versus $80 a month ago. Again this is just peanuts but from a psychological level it was a huge deal. I really think the consumer is going to feel reinvigorated with these savings. They will take this money and pump it into bullshit they don’t need guaranteed.
By the way, no fucking way that guy Obama will be able to deliver his promise to lower gas prices unless he is going to nationalize and give the shit away for free. Look for some resentment there if anyone talks about it because oil will only go up from the low levels.
Point of interest:
Pershing’s order entry system has been down all morning and will be back up and running in 15 minutes.
Pershing is the largest clearing firm in the country. So, there may be some knee-jerk reaction, once this fucker gets fired up again.
FYI.
global political tension brewing.
India clears bodies from last Mumbai siege site
• US deaths in Afghanistan drop dramatically
• Thai protesters reinforce besieged airports
• Iraq: Bombs kill more than 30 in Baghdad, Mosul
• NATO trucks attacked in Pakistan; bomber kills 8
• Orphan of slain rabbi in Mumbai leaves for Israel
• Pakistan blames ‘non-state actors’ for attacks
I’ve been taking a real hard look at TBT here. I posted this on the last thread but I think it bodes well for TBT. How much lower can yeild go before everyone says F it and pulls out of treasuries?
I also like LQD here and it pays over a 6% dividend.
Fly: what do you think of TBT and LQD?
http://www.bloomberg.com/apps/news?pid=20601213&sid=aIKuL6Qk19bU&refer=home
Might end up being a “ball-kick” reaction.
-DT
TBT is a buy of a lifetime. However, since no one trusts banks, money is flooding into t-bills.
To sum it up: buy of a lifetime, yet I am not buying it.
Seems odd.
“One day does not make a trend, you idiots.”
Neither does a 5-day, 20% rally…Asswipe
Shit, even VINCE FERRELL is bearish…
Why must you always say mean things to people? How about a “Good Job there, Sport!”, instead of “Pleaseeee…committ…suicide”
Mike:
Quit being such a dram queen. If you want people to say nice things to you and brew you a nice warm cup of tea, you’ve come to the wrong site.
But you already knew that.
VINCE FARRELL is an ASSHAT.
…uhhh…“President-Elect” !!!
—————-
You DO understand the “Elect” part of that title don’t you ?
He’s not the “President” yet…how the hell do you expect him to answer questions about India/Pakistan ?
The man hardly got “his ass handed to him by the press” !
Get a clue, fool !
.
IMPEACH PRESIDENT ELECT OBAMA AT ONCE!!!
Covered 1.5K short DIN @ 9.75 from 11.36…tired of waiting to be seated…and the retest of the 8s.
Big mike is big mary.
Clean up your act. This is a pleasant free site and no gays are allowed.
or a big nancy.
very odd indeed fly with regard to tbt.
Boy, you sure would be a nice fella to hang out with…
You also like this in your everday life?
mini H&S forming from 11:00?
How I behave in “every day life” is of no concern to you. All you should be focusing on is your pocket book, since some masked man with an alligator in his hand is about to take it.
After the Oct. ’02 capitulation low was made, there were NO 5% down days before the near retest in March ’03. That we’re having yet another major distribution day causing the index to decline 5.5% is not encouraging for the bovine crowd.
I also don’t like that we broke through the 2002 closing low of 777 pretty decisively. The odds favor a retest. When is the question. I originally thought March, which would provide symmetry with the pattern traced out in 2002-03, but that was before today’s 5.5% washout.
Now I suspect we waste little time before we get the retest.
Big Mike, you are nothing without The Fly.
Apologize at once.
Fly…fwiw…
…Wayne “Trapper John” Rogers named TBT as his BIG PICK…on one of the Saturday morning FOX biz shows this past weekend !
.
Fly is a dick which is why people like hanging around here, Big Mary.
X-Mas is a bust. Let’s redouble our efforts for a “January Effect” rally.
I love how the market has nicknames for rallies.
Fucking imbecile, the market is.
Trapper John should shut his fucking trap.
Actually fly that’s a good question Big Mary asked.
Are you as obnoxious off the site as you are on it.
Now be honest.
Pershing still down.
You e-trade homos have no idea how big Pershing is. It shall and will move the tape.
Developing…
Fly, your thoughts on a possible nay vote on the BAC/MER merger vis-a-vis financials? Or is that to french gay for you?
Dram Queen:
In real life, I am as nice as pie, who regularly offers $1 bills to homeless men and peach cobblers to my neighbors.
Fly,
Where did you get the Pershing info… can’t find it anywhere…
(Insert Sarcastic Answer Here)
lol
BAC is a buy.
5 BS days don’t make a trend. I’d say the last year makes a trend. Going to NEW LOWS this month just like I said. Wake up fly.
j, you’re an idiot. You’re going to wake up poorer.
What’s you point about Pershing, Fly? It’s only clearing, not position. The volume simply goes up. Stop worrying the bulls and needlessly juicing up the bears.
Master Fly what are you learning from this pos tape? Retail shorts getting too cocky?
Fly, JCG at 9.00 for an entry point for Santa like last year?
Dog
You’re supposed to be only out at night, so who opened the coffin lid? Oh yes the red ink did.
I’m doing great thanks for asking. I have my stops set where I’m long so if the market takes me out it takes me out, fucker and not a moment sooner.
So no matter what the fuck you say, you not scaring me outta my possies. By the way how did the 20% odd rally work for you fucker. I did great.
I trade off Pershing.
BofA C and WFC all issuing bonds insured by the FDIC and GS issued some last week. If they are FDIC backed that has to get some $ out of treasuries. I am buying TBT right now.
Can’t endorse JCG, while long M.
One headcase at a time.
Only a reject would buy TBT.
Today’s tell will be in the close. An ugly close will beget more selling tomorrow.
Then TBT is the stock for you Dog.
The Fly Says:
Today’s tell will be in the close. An ugly close will beget more selling tomorrow.
December 1st, 2008 at 12:23 pm
Duh.
Pilgrim’s Pride (PPC) tells you all you need to know about how chickenshit the rally was…
Screw this market. Sold all my C @ 7.05(BOT @ 3.80)
The selling will increase as everyone’s conservative stops from their 5-day gain start getting hit.
Merry Christmas. Thanks for shitting under my tree Santa. This is fucking depressing.
Hows silver doin today? Donnymeister is very perceptive in his calls – $30 oil – watch it happen. Does the Fly follow the Trump Predictor? If Trump is gettin in trouble, the market goes down? Anyone seen Trump’s hair on a very windy day when the hairspray gives away?
CNBChit has 9 fuckers in boxes now. How many assholes do they need to tell us shit sucks? We know, fuckfags!
The Fly is God.
We are trying to print our way out of this mess. To finance the trillions we are going to spend we need other countries to keep buying treasuries. to get them to do that the yields have to go up. i am going to keep a tight stop on but i love tbt.
Here we go again, Vince is going to call another bottom
UUP dropping to lows of the day. ($26.62)
That’s your tell, people.
“If it goes red,
You’re right, said Fred.”
_________
I need to reboot this freaking computer. Why do I feel like I’m on the arm of a slot machine right now?
_______
“It’s official: Recession since Dec. ’07
The National Bureau of Economic Research declares”
LMAO, it only took NBER a year to declare it…
Kinda neat that the market hit the lows for the day while the CNBC asshats were all talking about the bottom being in again and you need to buy retail and financials now for the recovery just around the corner. What a bunch of morons.
Lowest ten year yield since 1955?
Holy Brooklyn Dodgers (they beat the NY Yankess in the Series)!!!
Fly sez BAC is a buy.
BREEHEEHEE!! BAC is a $2 stock waiting to happen.
Remember last week when Bob PissAnti, shill for the NYSE specialists and pro traders, was saying AFTER the market was already up 4 consecutive days in a row (and nearly 20%), that the traders he talked to were wanting to tack on an additional 20%.
I pointed out then that if I were cynical, I’d think he was trying to to hustle up buyers for people to sell to.
Well done Bob.
Covered 2nd half of RJF @ 17.93 from 23. $4 higher than 1st half…but I don’t trust these dumber than dirt hayseeds…they’re actually hiring:
“Raymond James Financial Inc. is expanding amid other firms’ travails. While many of its peers are laying off workers in a bid to weather the credit crisis, the St. Petersburg, Fla., company is looking to boost its market share by snagging brokers, traders and bankers from these troubled firms.”
Ken Lewis is the 2nd dumbest bank executive on the globe … of course, just below Dick Fuld.
This fucking moron, Ken Lewis, loves to overpay for toxic assets, and do it on the shareholders dime.
I’m telling you, these fucking asshats are creating beast that are Too Big To Fail! Once you understand that, then you realize how this game is gonna end.
Who’s the ultimate bag holder? You and I, that’s who! But you can guaran-damn-tee, Kenny ain’t gonna give back any of his bonus money once he’s fired by the shareholders or the government. Bank on it!