No use fighting this fuckery. It’s hard to ignore intraday reversals like this.
As a result, I bulked up on more FAS and will trade no more.
Oils are reversing here and following the banks higher. Who the fuck knows why? All I know, the market is batshit crazy and I’ll be damned if I let it torch me.
Thank God I sold SRS. However, if that fucker gets in the 70’s again, I shall and will back up the truck. All in all, I’ve lost my patience trying to make sense of this market. I’m much better off trading in and out like a fucking dodo bird with a laptop, than trying to stick with a theme.
How is GM up? The Congressman said their would be “pain” for equity holders, in the form of dilution. This makes no sense.
Off to eat a sandwich.
If you enjoy the content at iBankCoin, please follow us on Twitter
music of gods.
The Fly is god like.
I made-off! get it Bahhhhhhhhhhhhhh!
I’m much better off trading in and out like a fucking dodo bird with a laptop, than trying to stick with a theme.
Caution: dodo bird is “no more.” He has “ceased to be.”
________
That “congressman” was Harry “the Extortionist” Reid. A dummber mofo would be hard to find within the beltway (when that crazy bat from Cali is not there at least).
Always fade him.
_______
you’re over thinking the market.
all the smart people are either too scared and on the sidelines, or are forced out because the government has been fucking over smart money and they’re all out of money.
it’s only retards left, there’s only reaction to news, and all the rest of us can do is technicals/emotional-trading.
the big item today is watching whether TLT breaks below ~110, nothing else to it.
Anyone seen DevilDog? Must be that time of day again.
Sold F…thanks for the bitch slap
Nothing to see here.
Please move along but not before mailing a check of your lifelong savings to:
Bernard L. Madoff Investment Securities LLC
885 Third Avenue
New York, NY 10022
United States
Thanks in advance!
NEW LOWS THIS MONTH WRITE IT DOWN I’M A TASTY BACON FLAVORED MEAT CONCOCTION
I grew up in the deep south and was ignorant of religious prejudice. Hell, everyone went to a Protestant Church. It’s where they sold the best drugs. The church kids had good weed. I never met a jewish person until I went off to college.
As a young adult I heard the terms “within the tribe” and “outside the tribe” and didn’t have a clue what it meant. I had to ask. An experienced, jewish business person explained to me that in business, jews tended to want to do business with other jews “inside the tribe” … before “going outside the tribe”.
It appears there are now a significant number of jewish families waking up today to this Madoff thing and wishing the hell they never heard of the “tribe”. $50 Billion. Holy crap. There are alot of formerly wealthy jewish families who are now dirt poor.
I say … welcome to the Tribe of Americans who were fucked by piss poor oversight of the markets. Welcome to a tribe of investors fucked by sorry assed Republicans who preach “free market” shit and hide when oversight is needed.
WELCOME TO THE TRIBE OF THE FUCKED AMERICAN INVESTOR – we don’t care what god you worship. Welcome brothers and sisters.
mudkips-
I think you may be right. This light volume is boring. Most of the big money on the sidelines may be waiting for the new year. either way my bias is bearish
He’s right ……. nothing but retards getting into this market. They will buy F and GM even if they do go bankrupt, because they think the stock will go back up after the reorganization. Then I will get phone call after phone call in which I have to explain how equity holders get wiped out in bankruptcy.
“Sorry sir, your account is worth zero. Muhahahaha!”
Poor dumb bastards. But I really don’t feel sorry for them.
I have to change title.
Here we go.
What’s the over/under on when Bernie either commits suicide or get’s taken out by a swindled disgruntled sucker? How much of the $17B was siphoned to off-shore accounts?
A Japanese company (Toyota) and an American company (Ford Motors) decided
to have a canoe race on the Missouri River. Both teams practiced long and
hard to reach their peak performance before the race.
On the big day, the Japanese won by a mile.
The Americans, very discouraged and depressed, decided to investigate the
reason for the crushing defeat. A management team made up of senior
management was formed to investigate and recommend appropriate action.
Their conclusion was the Japanese had 8 people rowing and 1 person steering,
while the American team had 7 people steering and 2 people rowing.
Feeling a deeper study was in order, American management hired a consulting
company and paid them a large amount of money for a second opinion.
They advised, of course, that too many people were steering the boat, while
not enough people were rowing.
Not sure of how to utilize that information, but wanting to prevent another
loss to the Japanese, the rowing team’s management structure was totally
reorganized to 4 steering supervisors, 2 area steering superintendents and 1
assistant superintendent steering manager.
They also implemented a new performance system that would give the 2 people
rowing the boat greater incentive to work harder. It was called the ‘Rowing
Team Quality First Program,’ with meetings, dinners and free pens for the
rowers. There was discussion of getting new paddles, canoes and other
equipment, extra vacation days for practices and bonuses. The pension
program was trimmed to ‘equal the competition’ and some of the resultant
savings were channeled into morale-boosting programs and teamwork posters.
The next year the Japanese won by two miles.
Humiliated, the American management laid off one rower, halted development
of a new canoe, sold all the paddles, and canceled all capital investments
for new equipment. The money saved was distributed to the Senior Executives
as bonuses.
The next year, try as he might, the lone designated rower was unable to even
finish the race (having no paddles,) so he was laid off for unacceptable
performance, all canoe equipment was sold and the next year’s racing team
was out-sourced to India.
Sadly, the End.
Here’s something else to think about: Ford has spent the last thirty years
moving all its factories out of the US, claiming they can’t make money
paying American wages.
TOYOTA has spent the last thirty years building more than a dozen plants
inside the US. The last quarter’s results:
TOYOTA makes 4 billion in profits while Ford racked up 9 billion in losses.
Ford folks are still scratching their heads, and collecting bonuses…
XOM is screaming for a downgrade.
6 strong Buys
4 Buys
Are you fucking kidding me?
Morning boys, new lows this month.
It’s days like today that had I practiced my own trading rules to the T. Had I sold the open rip and bought the mid day rip, I’d have made a dumptruck full of coin today, instead of spending time getting back my gains lost from mid morning right now.
Oh, by the way, we’re closing -200 or more in the red today.
bailout positive = sell the news
bailout negative = buy the hope
that’s the tape …
Damn, what a crazy market. I think we close right around no change for the day.
http://www.youtube.com/watch?v=a-lPOmr7LtQ
In my very humble opinion, anyone who is trying to play this market is a dipstick of unparallelled stupidity. When anyone learns what the NEW rules are, please let me know and I’ll consider getting back in the game. Until then, piss on ’em.
BSNBC just had somr Dumbo Clown Pants on saying that the market should now rally because all the bad shit is “priced in”. Were I in the NY area instead of the Chi area, I would have immediately taken a Cab to their studios and throttled that SOB until he begged for mercy, which would not be forthcoming. FUCK EM!!
No reason to get excited, the thief he kindly spoke,
Many here among us think that life is but a joke,
But you and I, we’ve been through all that,
and this is not our fate, so stop talking falsely now,
the hour is getting late.
:
Boring markets bring out long time lurker….
CAP… Nice post !
I enjoyed that !
.
Wyatt, I don’t watch TV. The rules I attempt to follow are simple: buy dipping weakness, sell ripping strength, stay nimble, and reduce exposure after taking gains.
Bob Dylan’s been lurking here?
Cool.
Here we go——-It’s PPT Time!!
Cap-
Excellent post….I’ll never mention you sucking your own junk again. Promise!
Thanks
Why is it that every Friday at 2;30 PM,
when the $fvx, $tnx, and $tyx are negative, the market rallies? Anyone know? Odd, no?
re: the afternoon meltup (started at 2:30 and was worth 200 points in half an hour… then another at 3:55pm which was worth 100 points in FOUR MINUTES in Dow futures)… it was rumours of an imminent announcement that GM/Chrysler will get money from the Taxpayer-Anal-Rape-Program (TARP).
That rumour did the rounds THREE times during the session… the first time was when Dow futures were -330 before the cash market even opened.
Plus (as I said earlier this week) nobody wants to go home short when the US government has made it a habit to make ‘market moving’ announcements every Sunday.
re: the Maddoff thing: if contributions were $17b and the damage is $50b, you might wanna know which banks were the ones providing leverage, don’t ya think?
Somewhere there is a bank or banks with at least another $33 billion of writeoffs still sitting on their books: and that’s just as a result of this one piece of fucktardery.
The whole shit-show reinforces my faith in karma; “George the Turd” fucked up every enterprise he ever got involved in (Arbusto, Harken) except when he could rely on political cronyism to get taxpayers to bail him out.
Now he’s applied the Yale-legacy-MBA-C-student paradigm to the entire US economy, with the predictable result.
Heckuva job, Turdie (not that I hold high hopes for the mulatto metrosexual y’all replaced him with – I want all political parasites to be ground up and fed to pigs).
(Turdie is your third president called George, if I recall… that’s why I call him ‘George the Turd’).
Cheerio
GT
GT’s Market Rant