I am putting cash to work, which is burning a hole in my hand.
I bought the following:
VCLK, sub $7.10
ITW, sub $36.25
PFE, sub $18.05
C, sub $7
NOTE: This allocation is very small, less than 5% of assets. I will not rush into any trades, long or short.
NOTE II: My premise for buying VCLK is for personal reasons. Recently, iBankcoin started utilizing their services and I am impressed.
UPDATE: I allocated another 5% of my cash into the following:
BAC, sub $14.10
C, sub $7.05
NOV, sub $26.5
Also, to fully hedge my FAZ position, I bought FAS.
If you enjoy the content at iBankCoin, please follow us on Twitter
Are you still bearish oil with this move?
confused on the C trade. Can you elaborate on your reasoning?
I’ve always though VCLK was an excellent acquisition target for either OMTR or EBAY. Lord knows why they haven’t taken my unsolicited advice hah!
MVIS currently up 19% to $2.00. FWIW.
I am long mvis too.
Still bearish on oil. C is my upside hedge against my stupid FAZ pos
Why argue with the market?
Bad economic news and markets go up…WTF ? Thats what you get for trying to rationalize the market like Dennis Kneale.
Just go with the flow and dont argue with Mr Market.
Slashing Bear’s throats with shipping stocks!!!
Yah
Freddy:
That’s what lemmings do. My time horizon is longer than yours. Therefore, I will not buy shipping stocks.
Freddy:
don’t get me wrong, I will buy stocks into a rally. I just won’t go all in.
Wow, there are NO sellers.
Fly,
You want to argue with my 10% plus gain on my EXM and DRYS?
Dont argue with me, argue with the market and the charts. Dont hate.
Slashing Bear’s throats with shipping stocks!!!
YAH
This melt up is the actions of retail investor brokers as they convince clients to put the money back to work that they had taken out from tax loss selling.Oils leading the way and pissing me off.
I am going to jump on the SRS ride.
Fly- are you still on the SRS train
Still in SRS.
Love the enthusiasm of Mr. Krueger. I’ll be sure to not short shipping stocks then go to sleep.
when an overbought market takes out stiff resistance, it is usually a sign of incredible strengh.
Hush Chivas. Your messin’ up my fantasies.
The Fly Top….
just kidding
if the BKX can get going, this rally can really gather a head of steam .. if not, an adjustment looms … not one that will make Ddog happy, though.
RE Steel: http://news.yahoo.com/s/nm/20090102/media_nm/us_steel_usa
‘WASHINGTON (Reuters) – The ailing U.S. steel industry is pressing President-elect Barack Obama for a public works plan that could be worth $1 trillion over two years to boost flagging demand for U.S.-made steel, the New York Times reported in Friday’s editions.’
‘Since September, U.S. steel output has plunged about 50 percent to its lowest point since the 1980s, largely because construction and auto production have fallen sharply.
The fall-off in production of appliances, machinery and other electrical equipment has also reduced steel orders, sending the price of a ton of steel down by half since late summer.’
Shall we all give each other lessons on the market?
I think every one knows when stocks go up, no matter what, it is bullish. The question you have to ask yourself, are we at the beginning, middle or latter stages of the rally?
If you missed the rally, you fucked up. The first mistake can double itself by capitulating and buying near the top end ranges.
Woody,
LOL.
DAVE:
It’s priced in. Everything is priced in.
Stop paying your mortgage and tell the bill collectors,”hey quit calling me, it’s priced in.”
After listening to you guys for weeks about SRS woes….I also bought some today only during the peak time of 10:00 thinking it was moving up and then it went down. So I have some at 53.29 or 53.45 breakeven after fees.
920ish seems to be holding…for the moment. I am waiting to see what happens last hour on SPX.
Next week might be more telling than today.
Woe spoke too soon SPX going higher…..
Fred … I tripled my EXM position on Wed for this rally …
I think we are about in the middle of the rally. I see more room on the upside. However, dammit, we are supposed to pullback, at some point!
Still really light volume on the day.
So ibankchange profits went up from $5.43 to $8.49 a day since you started using VCLK?
Great info as always old man!
The fly is now too positive. He’s going to get swatted.
The asshole dip buyers are out and about.
Looks like the indexes want to go parabolic, and blow their collective wads. I hope they don’t get any on me.
DEVILDOG Says:
Downtrend to undercut the lows starts tomorrow.
January 1st, 2009 at 8:00 pm
Last 3 predictions have been wrong.
Slashing DevilDog’s throat with shipping stocks.
YAH
did not miss the rally but have gotten kicked down by it as I have been 40% short and 60% cash. I am waiting like a hawk for the big boys to come back to the game and waiting for some volume and 2008 style volatility. It will return as all of the lemmings buy into this rally only to have the big boys chop off their balls when they return.
AAPL on fire and about to touch 90 and some resistance points. Setting up for a good short for a quick trade IMO
Wood, I’m with ya on that. I thought we’d get some sort of pullback before continuing the rally. I got blown the fuck up on my QID position. Zombie parts everywhere.
The Fly is God.
markets at the top of the range usually exibit divergences, weak a/d lines and up to down volume. this is not the case here. can we get a pullback sure, but so far this is showing incredible strengh, suggesting a lot further upside left. i welcome comments from the ta guys here. only the ta guys.
Wood, agree, watch out for a Dow Jones Jizz Bomb.
Screw this stuff. I’m going shopping. I don’t want to be around for the Jizz Bomb.
See you guys before the close.
I want to leave the thought that a lot of players are still on vacation.
You asshat bearshitter fools! The S&P itself projects 2009 earnings of $81.80, which will put the index at 1280 even with a 16 multiple!
Look at the box in this site, open the “Excel” spreadsheet. set column width to 10 and look at the “O” column to see $81.80 projected 09 earnings!
Why don’t you asshats learn how to research?
http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_500/2,3,2,2,0,0,0,0,0,1,6,0,0,0,0,0.html
Break out the AJUs* – this is still a December market.
*AJU=anti-jizz umbrella
ella
ella
ella
A
A
A
Hey
Hey
Danny,
Sure feels good to be long well ahead of the “dumb” money though, ya must admit you wish you were long a few weeks ago in retrospect.
Wood,
I just got a call from the sellers. They said Monday they will be back at work around 2:30-3:00.
Ok thats it I am calling for CNBC to cancel PowerLunch. This is the gayest show there ever was.
Looking for clarity please….
A lot of you guys are waiting for a pull back to get in this or that…..
Isn’t that the definition of “asshole dip buyers” ?
___________________________________
agree CNBC has been nauseating today
Generational-
Only a fool like you would believe the estimates given buy S&P for the S&P 500 index.
Especially for financials, which make up a big part of the index. Growth in earnings for financials, give me a break. the only growth they will get is from injections by the govt. The CDS story is not done. Most firms hold them off book so we don’t know what they have in exposure. I believe that if they would show the world there would be another run on the banks. Those lying sacks of shit
Still bearish on oil. C is my upside hedge against my stupid FAZ pos
Jumped from previous thread:
Have Woody, or a more adjacent trader servant, pull up a daily chart of DXO for you.
Please.
Pay particular attention to those black long things at the bottom right under “volume.”
________
DXO is insane today .. +21 % .. thats practically a quadruple etf … I have UCO, a double crude; only +13%
Lady G – “A lot of you guys are waiting for a pull back to get in this or that…..”
Exactly…
Please refer to Fly’s comment at 1:20PM
My third tier advice would be to sit back and watch. Don’t lose any more capital today. Live to trade another day when the risk is lower.
buy on the pullback for a lower risk entry point.
I agree on the new years resolution of turning off CNBC. The bullishness makes me sick
LOL these bull vs bear discussions have been hilarious.
Why does everyone think big money is going to buck the trend?
Jake DXO is fucking chopping shorts balls off.
Because the big money makes its money by chopping off the balls of the retail lemmings who chase. They wait for them to get sucked in and then they start chopping
If retail is just coming in, wouldn’t it be”hove” them to wait till mid or late next week?
reason why dxo up so much is that it was only up 10% when oil was up 10% on wednesday. it recorrected 5% after hours etc and went up therefore more when oil was up/
TA 101:
Multiple momentum indicators confirm the uptrend at the same time, and that’s your buy in. Use scaled trades to build a winning position, and move your stops up the entire way. Who cares if it’s the beginning, middle or end of a move? Most money is made through proper money management and consistently using multiple predictive indicators across multiple timeframes. Minimize the risk and you make money.