Mortgage brokers, in rooms the size of airplane hangers, work feverishly to “save homes,” via loan modifications.
I know people in the business and it is stomach turning to hear what the government/banks are doing. People 13 months delinquent on their mortgages are getting preferential treatment, instead of the fucking Marshall at his door. They are modifying all loans, regardless of credit history or income.
It is ridiculous.
We’re (our government) just throwing money away. Call me naive, but all of this reckless behavior has to come home to shoot the faces off of equity holders, no?
In the meantime, the market is break even, year to date. The tone for January will be set after tomorrow’s numbers.
If given a clean slate or lots of new money to invest, I’d keep a bias to the short side, with a 40% short, 15% long, 45% cash blend. Should the market respond positively to tomorrow’s bad news, I’d buy VCLK, STT, NITE, FFIV and maybe a little C.
However, I insist, all trades must be short term. There is a lot of bad news out there, that hasn’t been “baked in.” Furthermore, the imbecilic tea baggers on CNBC are incredibly, and I mean incredibly, bullish as of late.
Cramer has been penning a 100 part series on “why 2009 is going to rock.” and Larry Kudlow is calling for a “panic buying” spree in stocks.
Take what you want from that.
With my money, I will remain cautious. “The Fly” has been talking a lot of shit, as of late. But, please take note of the fact that he has held a 30-60% cash position, for the better part of three weeks. Despite having convictions, I am cognizant of the outside chance that I may be wrong.
Hence, I am patiently waiting, with 30% cash on the sidelines.
Bottom line: If your only hope for a rally is based upon the prospects of the dollar weakening or banks lending money, I think you are disillusioned, to say the least. Rarely do I hold cash, as many of my readers know. Most of the time, I am in the field, shooting howitzers at scared cats in trees. But, for the time being, sometimes the best trade one can make is no trade at all.
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I like the idea of shorting China. They are screwed.
The day ends green.
Write THAT down.
I am hesitant to get heavily short in front of a $1T stimulus plan. No?
I can’t be the only one.
That’s obvious, MDAWZ.
Maybe you should ponder as to WHY we need a 1t stimulus plan?
And, moreover, how much of that will be offset by steep budget cut backs, on a state level.
Wilmer:
Today’s tape is irrelevant. Tomorrow is key.
wilmer Says:
The day ends green.
Write THAT down.
January 8th, 2009 at 2:19 pm
Tell that to DevilDog so you can see his head explode.
Mdawz:
What are you long?
Stimulus won’t work. You can’t fix a problem of too much debt with more … debt.
Freddy:
You sucked in all of the Nightmare flicks, expect part 1. I’ve been meaning to tell you that.
However, the last one, Freddy vs. Jason, was better than most.
Between ADP and retail numbers, along with energy inventories, you really think that tomorrows number is not baked in?
Sir Flyalot –
Why are you pro-dollar … or anti the anti-dollar trade?
The Real Stumpy
My feeling is tomorrow’s job numbers were discounted in yesterday’s selloff with ADP. I bet stocks are bought when tomorrow’s horrendous number is reported. Then all the Fuckface Franks on CNBC can talk about how strong the market is because it’s rallying on bad news.
F2cking stuff up, screwing with the eCONoME, throwing money into black holes and sh^t, that’s what they do, that’s all they do. You wouldn’t want to put our poor petite whittle gubbermint out of a job, would you?
My bet, is that eventually, all this bad news will be realized in the market. I believe that eventually the bizarro world of bad=good will right itself. I believe that day of reckoning is coming. The stock market is indeed a very gay place. But, who gives a shit what I believe.
My 5 wonderful children Trig, Track, Willow, Piper and Bristol want to wish you a horrible 2009.
My new grandchild Tripp wishes you the same.
May Dow go to 5000.
Palin 2016 if not 2012. May be 2020. Whatever boys, elect me.
I believe we are in a deflationary spiral. Hence, the dollar will remain strong, as all alternatives are useless.
I am long some select energy names, and some basic materials and PM stocks. Also holding some E&C names and one steel producer.
Short Cramer though.
Buying or shorting ahead of tomorrow’s data is pure gambling, just so you know.
That’s not to say that I’m not willing to change my tune, just not likely this quarter.
You probably cleaned house over the last few weeks.
Why not take profits?
It’s a long year.
ANOTHER PONZI!!!!!
Catholic newspapers!!!!
Beautiful!!!!
82 yrs old!!!!!
Can’t make this shit up.
BTW:
Do any of you want a mobile comment version for ibankcoin be made avail?
One that puts the most recent comments to the top.
I do. It’s a bitch scrolling all the way down.
http://www.fresnobee.com/263/story/1101238.html
Might want to sink an oil derrick whilst you’re back there at the ranch.
Help pay for that toll increase.
__________
Start-up Idea: “Fly’s Fuggface Ferry”
Ma-ha’ah — ten balloons.
Joisey — eight semolians.
_________
Your Highness, the Fly,
Clearly there is a bubble forming with the Fannie & Freddie loans. Do you know if these default if it is ALL covered by the Almighty Bailout father?
-Much love from your devoted follower
the stock market is a gamble every second of every day…..
that’s why we play…..
anyone thinking of gambling a short position in Sears today and into tomorrow? it sure is up alot now considering the cooked numbers they just spewed up….
NASDAQ just jumped whats the news?
From what my sources are telling me the jobs number will potentially be positive due to the half million or so Mortgage Brokers Paulson just hired at the direction of Barak “the builder”
Most recent comments at the top would be better IMO
Superb site.I like to follow the thread as is ..Oh as an aside does anyone else ever see Chris Fernandez on Seeking Alpha touting GEOY..I look at his photo and fuckin feel like he’s package peekin
Just shorted aapl at 92.84 for fun. small lot
Do any of you want a mobile comment version for ibankcoin be made avail?
One that puts the most recent comments to the top.
_____________
I check comments from my mobil all the time, and it’s not such a big deal to scroll down.
That said, if it’s easy for Vincenzo, sure.
________
and yes Fly…..what I would like is this site have the most recent blog on top, not bottom and the most wonderful software upgrade would be that all blogs written be automatically refreshed to see it without having to refresh all day…..that to me is number one upgrade, so as the readers post, it automatically comes up and is visible….like an instant message type outfit…
Did anyone here receive a gold watch in the mail from Madoff? I’m still looking for my package…….
From Lucky’s article in the Bee:
“You might have George Steinbrenner wanting to buy this,” Mirigian told her one day, referring to the longtime New York Yankees owner.
“Who’s George Steinberg?” she asked.
_____________
Fly —
Got a link on the Catholic newspaper thing?
________
I am a pathetic loser. After all of these years paying mortgages on time and in the early years working two jobs to do so. Fool.
Steve Jobs must have a sniffle.
Jake
It just broke on CNBC.
Another day of weak volume
TraderCaddy Says:
I am a pathetic loser. After all of these years paying mortgages on time and in the early years working two jobs to do so. Fool.
Watch, credit cards will be next….
I was thinking about adding a separate im type comment section, tailored for mobile users.
It might be a waste of resources. But I find it to be a pain in the ass to scroll down 200 comments.
All you shorts need to cover since I just added some shorts to my account to hedge my cash….LOL
yeh the newest Ponsi (ponzi…whatever) was a mear tiny 17mil by an 80+ year old…..I have to say….anyone dumb enough to hand money over to an 82 year old deserves to loose it having the 82 year old spend it on hookers and hard dick pills……
Good job SEC.
Nail the 17 mill ponzi. Swing and miss on the 50 bill.
Well done.
Top 10 ranked ETF’s, PPT:
No. Ticker Acc/Dist Price Perf. Rel. Strength Volatility Volume Final Score
1 DTO 5 5 4 5 3 4.27
2 DEE 5 5 3 5 4 4.22
3 SCO 5 5 2 5 5 4.17
4 CSJ 5 4 5 1 3 4.07
5 FXY 5 4 5 1 3 4.07
6 MUB 5 4 5 1 2 3.87
7 MBB 5 4 4 1 3 3.82
8 IEI 2 4 5 1 5 3.72
9 CLM 5 1 5 4 3 3.47
10 SHM 5 4 4 1 1 3.42
o my god who is the hottie on CNBC with the fuck me necklace on right now?
Fly Says
Freddy:
You sucked in all of the Nightmare flicks, expect part 1. I’ve been meaning to tell you that.
Fly,
I saw your movies, you looked real ugly and at the end you got splattered.
I’ve been meaning to tell you that.
Why is it that good (what are left us) on time bill paying MFERs get stuck paying for the NINJA (No income no job verification)loans? Screw Madoff, somebody needs to put a size 11 sideways up Mazillos evertan ASS.
Where is DevilDog with his crappy SRS trade?
They aren’t using debt; they are printing new money.
Existing debt is gradually being converted to debt at lower interest rates.
Through Monday, the Treasury Department is up 4%!
Devildog said he was going to get his hair cut in his F430……before 3:30 today…..he is gone….(he might of been confused with his F150?) maybe not, laughs….
Fly,
Yes on the mobile version. Now, as a Catholic, I’m sure there will be Papal dispensation, after the money is returned, or Bros. Nunzio and Carmine will be making a prayer visit to whoever is behind this…..
DevilDog,
i told you earlier to jump in the Gold/Silver Gravy Train. Im already up 3% plus today
DevilDog left because he saw a rally coming…and all his BS talking and rationalizing the market went down the toilet
Fly, you amuse me, which, presumably, is why you are here?
What a disgrace our nation had become. I can’t believe we are at a point in time in our country when we are discussing BK’s, bailouts, ponzi’s and whatnot. Man, I’m no Devildogma, but his cry for revolution is right on. Watching this motherfucker Dodd, knowing full well he got his VIP loan from the Tan One, makes me physically ill.
Freddy:
Touche.
I just sold my 1971 one owner Dodge Challenger……. now that I made a home run on….. can’t say much about todays trading however…….
Sears is BACK as a growing concern! I’m also quite optimistic on Montgomery Ward!
Yes, we can have a mobile version of iBC.
Yes, Monkey Wards was one of my favorites as a kid. Right up there with Burdines, EJ Korvettes, Jefferson Wards, and Kresges.
and Woolworths ….
Yep, I remember Korvettes and Kresges. Those were the days.
I usually click the B (goto bottom) key on my Blackberry. But on IBC you then have to scroll up past Dinosaur Traders link…
Where does a normal investor go to get info on a timely basis so he doesn’t get homohammered by the institutions unloading there shit based on “advance” information provided to them the day before crap is announced to the public? AS Booby Knight once said” Fucking Fuckers”
Devildog left because I asked for a picture of “his” car
don’t forget Zares………
Love your comments.
Go Fly!
Sniper6….you still have that PCX?
I’m still not playing ball. Waiting for two days prior to Merlin poofing away commercial real estate.
O for fucking crying out loud….who are these asswipe turd wrangling pimps on CNBC right now……. fucking commies………
I’m in a prolonged resting state at the moment. But I will be back in time…more powerful than ever.
I can taste the meatloaf blue plate special with a milkshake at Woolworths right now.
rest my friend rest….we will all need to borrow some money from you when you come back……..
BOT 2K SSO @ $26.56 in advance of an anticipated bounce on tomorrow’s horrible, horrendous, jobs numbers.
As Fly said, it’s a pure gamble, but unless the number is much higher than 600K, I think we get at least a brief relief rally.
Depression Pricing is Here! Bullshit Pleather Chairs on Sale Now!
http://www.npr.org/blogs/money/2009/01/deflation_pricing_is_here.html
Enter the time machine, TraderCaddy…
http://www.youtube.com/watch?v=pdtZl6lD6Q8&feature=related
Funny, I’m expecting 800,000 and a gap down buying opportunity …
Palm’s new shizz looks great.
http://www.engadget.com/2009/01/08/live-from-palms-ces-press-conference/
Stock is ballin’
That was either Stripper music or Benny Hill music.
I can’t take this cascade down!!! This is killing me!
-DT
TC … let me recommend a subscription to “Reminisce” … the magazine that brings back the good times!
Devildog is out walking the yard…
Getting a haircut is his code for yard time.
LOL, Warden.
Oil has slingshotted.
Tomorrow we Fly ————–>>>>
sorry for being slow.
ive only just realised
uncle Sam and C will reduce your mortgage for you.
its good to be american.
late stage capitilism = socialism. the we have gone full circle.
omg
see you tmrw, comrades.
TC, sorry to hear about Beaver … hope you still get your namesake or I should say initialsake:
http://www.youtube.com/watch?v=FBno9rWZhnU
DD
photo of this Ferrari of yours please.
What we need tomorrow is a split screen. After the worst employment report in 25 years, the left side of the screen is CNBC showing DJIA up 500 points. Right side of the screen is people lining up at soup kitchens…while Larry Kudlow says, “Things aren’t that bad.”
Has anyone seen my baseball, I mean my cascade?
E8, that’s why it’s a gamble.
An 800K loss is 75% worse than consensus of 500K. Jobless claims were actually slightly better than expected today. What are you looking at that makes you anticipate such a huge loss of jobs?
Lets all just hope Dennis Kneale one day soon is in that soup kitchen line…….
The tone of Obama’s speech ….
I expect the rally to resume but think the numbers (though baked in) will still spook weak hands and create a mid-morning buying op.
Devildog is going to be mad because it looks the market is CHURNING and it looks its going to bounce and not going down. Indicators are already start looking oversold in just 1 1/2 days.
January 8th, 2009 at 10:03 am
DevilDog says
freddy, stick your stupid indicators up your ass.
Freddy, please keep buying bull market stocks.
January 8th, 2009 at 10:06 am
Hey bullfucks, how’s the bullshit working for ya today? Stupid fucks.
January 8th, 2009 at 11:35 am
Freddy Krueger says,
Go get some Gold and Silver, not SRS.
Enjoy yourself
January 8th, 2009 at 12:43 pm
End of Day Tally
Im already up 4% in EGO and the market rallied from the lows. I told you.
TOUCHE
Stop sitting on the sideline and get leveraged people!
Soup kitchens in the US
http://www.metacafe.com/watch/33858/the_hole/
EGO looks nice. Wasn’t that Gio’s idea?
________
SRS = “the funnel.”
SRS for Devil Dawg = “the kennel.”
_____________
for Devildog and all the rest, first off devil, I hope your new hair-do came out well…..and for all the bears and bulls, what I predict is:
The businesses in this country have no real money coming into them at the moment. Not enought to cause stocks to move 100% up from here, but like all the bonehead fuckjawed pencil dicks out there in syberspace trading like they have sense, what will happen is:
The market will have this Obama rally kicking in sometime next week and it will go thru the 20th….I have no idea how far up these pencil dicks will carry the trades but I plan to be one of them…..but after the 20th…..I hope all the pencil dicks will come back to reality and realize that they have just raised the stock prices to an absurd level far exceeding the real truth and from there I expect the market to snap back to normal and go lower, how low I don’t know……but NO MONEY is coming into companies…..therefore, the run up we will get over the next 2 weeks will happen but watch out below afterwards….
E8- Good one.
Thanks E8. I put 0% weight on Obama’s speech.
He’s selling his stimulus plan to the public. He’s got to justify going $1 trillion in debt. That gives him every incentive to be as dire as possible.
Then if the economy does improve later this year or early 2010, wheter from his fiscal policy, Bernanke’s monetary policy, or simply the cycle playing itself out, he looks like the Messiah we all know and love. His approval ratings go through the roof. And if the economy doesn’t recover, he just blames it all on Bush.