Oil is sprinting here. Without the outperformance in oil stocks, today would be a bear parade. There is abundant weakness in a variety of sectors, particularly in the banks. If you are 100% short this market, your fucking brains must be swollen by now, with all the mindless rallies this market is producing.
After this mornings data, coupled with earnings warnings, you’d think we “clown dive” a little bit and begin a new leg down. No. The Magic Jack lovers are here to save the day. They have their nets and they are willing to buy any stock, no matter how bad the news is.
Sometime soon, my guess, research houses will downgrade oil/gar stocks, based upon reality. The reality is: oil/gas are fucking inexpensive. Thus, with cheap oil/gas, stocks like XOM or CVX are expensive. Taking a gander at some of the oil/gas names, you’d think oil was at $150 again.
Unreal.
Sometime today, I will sell me ERX position and buy ERY.
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The Fly is God!
OIH has lost 2/3’s of its value since July…errrr THAT was $140 oil.
What to do with DUG….hmmm Duh,buy more.
PS Great Sunday Story…I told it to my kids at bedtime.
Well my oil trust stocks certainly DO NOT reflect oil/gas back up to 150 a barrel. My stocks are down 4-5000.00 each. They have come up a little the past few days but no where near where they use to be. I am in the hole big time with these stocks. We are a long way from being back to 150.00 value barrel= expensive oil stocks.
May I remind you that at least in my families business we need oil to be around 60.00 a barrel to keep producing ‘ made in America’ by Americans.
yeah fly its a slow broil for tha shorts and if we hang in the green there will be more short covering going on but im lovin’ the action in DXO not dumping it today tho…
INFLATION — Bernanke has been pumping for months — it was bound to take hold.
First bubble to reinflate on Govt. intervention is commodities.
This is the inflation rally. Ben does not give a shit if it’s justified or not. He just wants people to stop hoarding dollars.
Razn,
DUG is trading where it was in July at the peak…that should tell you something! Caveat emptor.
So you are suggesting a short on oil or on the names? Why is DUG this low Fly, something has to be decoupled here.
IMO XOM is hiding the salami. I won’t go into it, but suffice to say I feel certain that they will be under $50 by march.
Anyone here follow a company called Rambus (RMBS)? During the recent market nosedive, shares went to $4.95. Today they’re trading at nearly $14. The reason? The company was the apparent victim of a cartel of DRAM vendors that colluded to suppress Rambus’s proprietary RDRAM (now XDR) memory, thus cutting off billions in potential revenue. The company has had a string of recent wins and the lawsuits all seem to be weeks/months away from finally being resolved in favor of Rambus. One firm has raised the target to $40/share in strong anticipation that Rambus will win. Anyone here familiar with this company and have any comments?
Gap, think on it. What if you sold both DIG and DUG from day one? It’s a pattern that’s been on the table for months now and discussed on many blogs in detail. It makes no sense to hold the inverse ETFs overnight.
DUG = FXP
Buying DUG here 28.20
Sir Douchebag, you got me thinking that some of Ben’s pumping may be inadvertantly offset by brewing bubbles bursting.
Is Santa too big to fail?
How many elves would be thrown out of work? What about all the Santa suppliers?
We should have a tough North Pole restructuring plan. The naughty kids should only get coal instead of ipods, especially since coal has become cheap again.
Our economy depends on Santa. He deserves a bailout. And don’t forget Rudolph. The reindeer jobs bank must be preserved.
This market is like watching paint dry. Where is the volume?
SRS = Buy and hold.
Lord_Tyrannus
Rambus was a client of mine. They are entirely an intellectual property (IP) company. They don’t manufacture anything. They are all about coming up with the next great tech patent and selling it to AMD, Intel, etc.
Their model was simply to mint money by licensing tech designs. However, there have been IP lawsuits with other major players over who got particular patents first so much so that the company’s fortunes have descended into lengthy complicated court battles. In other words, you’re gambling here with legal outcomes. Is that the way you really like to invest?
I’m betting my future on SWHC gun sales.
Long 60,000 SWHC into numbers Monday!
This is your life, and it’s ending one minute at a time.
Anyone know anything about guns. specifically SWHC and it’s value?
Is book value on SWHC of $2.40 as per link realistic?
Technically I’m looking for it to trade back toward resistance @ $4.00
http://www.finviz.com/quote.ashx?t=swhc
Fly: what’s that old rust bucket you call PPT say on SWHC?
If I may be so bold as to ask.
FLY –
Got one for ya ! thank me late 09. WTF up with SLW? Are we looking at a buying opportunity of a decade? Actually buying something and putting it away for a few years. Something i have not done in years.