Early this morning, I sold out of my EEV position. As you already know, I added to both SWHC and RGR positions.
Look, I am trying to get long, without feeling a sense of misery about doing so. I can’t sit here, with a straight face, and buy AA or BAC and tell you “they are possible bounce plays.”
I’m done trying to catch idiotic bounces in shitty names. I am up for the year (12%), while everyone else is near death. I was up nearly 60% last year, while people in my industry got annihilated. I must be doing something right.
I am starting to see some real anecdotal evidence that the economy is in trouble, from a NYC perspective. Business owners that I know are unable to get loans, despite having millions in collateral. And, good people are being laid off.
By the way, in case you were unaware, the yen (FXY) is getting cremated today, which in turn is helping stocks. Call me a banana salesman if you must, but if it’s not gun related, I’m not buying stocks.
I have approximately 55% in cash and loathe the notion of being fully invested. As a matter of fact, I may never go “all in” again.
For fuck’s sake, old fuckers in wheeled chairs lost all of their retirement savings, investing through Bill Miller at LM. I’m over here, like a fucking Saint, doing the Lord’s work and for what?
I get to enjoy the pleasantries of DEVILDOG and other losers. The life of a Blog Father.
In short, I have many tricks up my sleeve, with regards to commercial Re. So you know, tonight, I will be posting an article, exclusive to PPT (fuck you it took time and money to build it), on the cre market and what names can—go—all-the—way.
If you enjoy the content at iBankCoin, please follow us on Twitter
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWCVnODJ3GPA&refer=home
Mr Elliot Wave says to cover all shorts
When this bear is said & done, all trading systems will get laid to waste.
It took me awhile but I am back up off the ground and coming after you punk.
I was shorting Milken junk bonds and recall the JFK bounce before you even knew were Wall Street was.
For fuck’s sake, old fuckers in wheeled chairs lost all of their retirement savings, investing through Bill Miller at LM. I’m over here, like a fucking Saint, doing the Lord’s work and for what?
too good. thanks fly.
MSFT with new lows today.. happy birthday Steve Jobs!
That position was open for 19 months. Greatest trade of all time!
Come on and bounce wit me http://i42.tinypic.com/rt3v3n.png
Juice, he said to cover shorts and find a safe place for the money while you can still pull it out of the brokers/banks. He was promoting GoldMoney.
… and what names can—go—all-the—way.
I’m starting to think Pitino’s boys can put a run togetha, ovah heah.
Anyone who can get Clark Kellogg to root (on air) that hard against him is okay in my book.
____________
good point cubs
I also meant, all tdg systems would fail …. except PPT, natch 😉
8)
WTF is this “ALL DAY WITH BEN BERNANKE” day? fucking christ I’m falling alseep over here…..
“WTF is this “ALL DAY WITH BEN BERNANKE” day? fucking christ I’m falling alseep over here…..”
Yeah, you and me both –
http://www.ft.com/cms/s/0/7b52319c-0205-11de-8199-000077b07658.html
Fly,
Still bearish on XOM & Oil?
What is the preoccupation with beating up old men- we rule the world
CRE is fucked. I know here, in the great capitol of DC, buildings have been sprouting from the ground like weeds. These buildings are having trouble finding tenets and will soon be inhabited by the greasy underbelly of DC.
Business Idea I will submit to Donnie Deutsch: Record Bernanke and sell it as a natural sleep aid,put sominex out of business.
Is this a pullback in GLD and SLV or have they topped ?
Bennet Sedacca
11:50:00 AM
No positions in stocks mentioned.
Preferred Update
Bank of America (BAC) and Citigroup (C) preferred’s are getting hammered yet again. Also Royal Bank of Scotland (RBS) and ABN Amro (ABN).
The market is speaking loudly. These will not be paying for long and the banks will likely be parts of ‘our’, ‘We the People’s’ portfolio.
Long term target for XOM is $55.
Short term: oil can bounce, even though it shouldn’t
Anyone have any thoughts on a longshot AIG play? Down 26% for the day, at 39cents. Contemplating tossing $100 in and forgetting about it. Very real chance it continues the march to zero but the loss is pretty fucking easy to bare.
Fly, are YouTube videos permissible in the PPT forum?
Everyone over 30 should be put in retirement camps and force fed acid.
http://www.youtube.com/watch?v=rRLwV2xafpk
“and for what?”
for many
Charlie
sure
I couldn’t wait for an answer Fly, I enrolled 2 minutes ago.
FYI iBCers, the confirmation e-mail/password arrive immediately after the Paypal payment is processed.
“For fuck’s sake, old fuckers in wheeled chairs lost all of their retirement savings, investing through Bill Miller at LM. I’m over here, like a fucking Saint, doing the Lord’s work and for what?”
classic fly.
Retirement camps already exist (in South Florida). They go by the names of The Villages at _(fill in the blank)________.
Although they don’t consume acid they do probably eat brisket,kugel, and blintzes.
Uncle Ben- Keep bad mouthing housing so the homies can keep going up.
Charlie
Did you pay with an e-check? If so, email my it guy.
the prof is up 28%, a point in which he usually gets hammered and loses approximately 15-20% in one day….
No I’ve had a Paypal account for years. Signup took about 45 seconds.
Also, SWHC earnings are due out Monday.
TraderCaddy, I’ve been to The Villages in Ocala, my aunt lives there……it is a great place to live if you are retired….lots of shit to do, and free golf on all the golf courses, lots of booze at the squares, and all accessible via golf carts, 30,000 plus houses built so far…..it is huge……..
GE is still sucking today, along with other big names CAT, HPQ, UTX, & MSFT.
front page of yahoo finance reads: Bernanke Sees Chance of Recovery Next Year
BWAHAHA. He’s still smoking something. I just wish I knew what it was so I could feel a recovery coming.
They should rescind that headline and with this instead: Bernanke hopes for recovery next year, then drops his bong and realizes it won’t happen for another decade at least.
shorts about to be deep fried like a redneck lollipop(turkey leg) at shitfucked mud race.
cash… that would be me…
For the bullshit dipbuyers, check out the action in GE — stock is out in the cold with its thumb up its ass, bleeding lower, while the DOW gains 100 points.
Again, as long as DOW bellwether GE cant get out of this bearish funk, this market will not sustain any rallies. We need all or maybe a few of the following events for a real bounce:
-VIX 75-ish
-DOW 6000
-Dividend cut from GE
– Moody’s/S&P downgrade of GE credit from AAA
Unless this stuff happens, watch this market defy all odds and continue to bleedy lower with little hundred point rallies in between.
TheArtist- I have been to The Villages too (for the golf courses).
Nice golf courses, although the rangers can be a bit cranky(probably retired NYC cops).
FAS taking off.
The most interesting phenomena is that the market cleansed its own excess of illusionary wealth. When a system does this type of thing, it means it can’t be done and now they are trying to get it back to the state right before the disaster.
Now we know the Banks really had illusionary cash flow. They were selling bonds and charging premium to pay their executives millions. But in reality they created abstract money vaporization products that made them think they were making money. Obama can give these Banks 100 billion and it will vaporize.
There is not room in economics for this reality. They are going to need to burn text books.
All of you foolish Houston (and sure to spread in the age of Obama) people who pay your bills, start a small business, do the right thing, etc. read this and see how dumb you are.
http://www.dallasnews.com/sharedcontent/APStories/stories/D96I2PIO3.html
MI up 20%, come on and bounce wit me.
Is this pessimisum from shorts, or optimism from longs? Dont kid yourselves, the bears are in control.
CaaaChing!!! Cashing in on my list of stocks from my Widest Discounts From Book Value list. Along with DXO.
sniper6 sells UYG $2.33, bought @ 2.08 this morning. 12% return under in 5 hours on this trade.
Tim Knight eats dicks. Doosh has been adding to shorts and crowing about how he’s the best for a week. Enjoy your manhole sized asshole.
Ass Napkin Mike you still banking coin on that SKF short?
Can’t ya feel the sidelined trillions being put to work….?
READY….FIRE…..AIM…….
sniper6- Must be a coincidence. I bought UYG 2.05 and sold @ 2.29.
Just sold my XHB,ITB (homies etfs) for a nice 7% gain (although they may surge into the close).
Awesome volume….So awesome….
nice work TC, I’m glad you banked on the homies, I was not about to take that bet myself!
JakeGint Says:
… and what names can—go—all-the—way.
I’m starting to think Pitino’s boys can put a run togetha, ovah heah.
*********************************************
Pitino is a washed-up cokehead.
Sold 3k FAS
Sold 500 BGU
Sold 500 TNA
Sold 500 QLD
Just thankful for a little green
The air is electric,this market is about to explode…AIG represents 15% of the problem…Govt preparing to remove the cancer
Japan creating their own PPT ?
http://www.bloomberg.com/apps/news?pid=20601101&sid=ah4aA9IaTzT4&refer=japan
I know a guy who trades RMBS. It is moved by a few inside news letters. I would not touch this stock. Look how it trades. Manulipulation?
RMBS seems to trade quite a bit depending on whatever the most recent court ruling is at the time.
Fucking http://www.citi.com is down.
Cramer calling for Jack Bauer to be new Treas Secty
I brought you SWHC @ 1.78 and again, and again under 2.50 I then foolishly sold it all @ 2.80 because I thought I’d be cute with it. Stupid me. Oh well one of my favorites here is SFLY. Fly says it’s a Costanza trade. All I know is people are spending money on small ticket items like personalizing shit like mugs and calenders and sending them as gifts. They made a killing this xmas while few retailers did. I have every reason to think this trend will continue and thats why SFLY will rally to double digits by next qtr.
Under $8 SFLY is a screaming buy here!!
What’s the odds on a big profit-taking selloff into the close?
How bizarre people cant get their hands on enough guns and cute photo projects.
SFLY has birth announcements, wedding announcements, graduations, Valentines day, all this shit is recession proof. and that why SFLY will grow EPS steadily through these whack times.
A Welsh style loan defines how credit swaps operate:
‘Wil, my good friend, I am having a few cash-flow problems right now. You coudn’t lend me twenty quid, by any chance?”
“Oh, all right. On condition that you pays me back within the month.”
“Most kind of you, to be sure. Tell you what. Just let me have ten pounds now, which will be enough to keep me going. Then I will owe you ten pounds and you will still owe me ten pounds. Shall we call it quits?”
From a reliable source: A self-employed guy with good income wanted to buy a new house for $450k. He was going to put down $385k cash. The banks wouldn’t give him a mortgage. 2 yrs ago they would have financed 105%. Morons.
He got the deal done using builder financing.