Let’s not play games, shall we not? There will be no rally with GE in the penalty death box. There are all sorts of reasons to sell this market. However, none are as compelling as a GE failure.
On a very private level, I think the share price of GE is bewitched by demon sorcerers, who endeavor to see the end of America, via financial collapse. In the meantime, we must deal with trading ranges and other stupid things, prior to the ultimate “mushroom clouding” of American society.
Believe it or not, I executed zero trades today. As you know, I am mostly cash, so the daily fluctuations of the market are not of great concern to me. Sometime soon, I will sell out of the remainder of my SDS and DUG positions. I will keep my CPT short.
My longs consist of GLW, JRJC, WNR, CY and TNA.
In short, I expect to have my balls boxed around in any longs, until GE firms up and stops acting like it’s going out of business. My top recommendation: raise lots of cash and sit this fucker out.
If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is a demi-God.
GE Mar 2.5 puts trading briskly. At this point im almost hoping it happens just so i can see what anarchy looks like, you know, resume stuff.
It is CLEAR listening to Obama that he disdains the stock market.
He has haughty contempt. He is acting like a man who wants to send the market ‘ subliminal signals’ that HE is in control and not the market, that he will do what he wants and does not care what the market does on a day to day basis.
You can see this is going to be a battle….
Now we have to be tortured by TIMMAY’s prattle
.
Hey can any of you guys reach out and land a ballistic punch on that huge chin of Gordon Brown’s? I cant reach him from here.
Thanks
Don’t kid yourself. No one cares about GE.
Fly, you took the words out of my mouth.
I, frankly, got tired of reminding everyone about the GE “wormhole” indicator.
It worked 2 weeks ago, it worked 1 month ago, and it continues to “work” now. This market goes no where anytime soon with GE getting stuffed with German frankfurters to the backside on a daily basis.
You will start to care about GE when its failure destroys U.S. commerce as we know it.
GE needs to sell all of it’s businesses and go back to making light bulbs and “Ice Boxes” like Thomas Edison intended.
Lets save the automakers and ignore GE. This may be the best administration this country has ever seen.
U.S. Oil Refining Capacity Rises For 6th Year
Washington (Reuters) – U.S. crude oil distillation refining capacity increased for the sixth year in a row, reaching 17.61 million bbls per day at the beginning of 2009, the U.S. Energy Information Administration said recently.
That puts U.S. refining capacity at the highest level since 1982, when new U.S. clean air regulations began forcing many smaller refineries to shut because expense pollution controls required by the government made the facilities uneconomical.
Refining capacity during 2008 rose a slight 16,000 bbls per day, or just 0.1%, from the previous year, according to the EIA.
double post.
Geithner just said they are proposing a 10 year plan?
The president only has a 4 year term, are you guys reading into this what I am? They have no clue what the fuck to do and will push the mess onto the next guy.
Meaning, they know this shit will fester and linger in a pool of piss for years.
Some fun for a slow day. Go to a one decade chart of the SPY on a weekly time frame. Then apply a 62 period SMA and
you will see something funcky. Is it because 62 is a FIB number? I don’t know but it seems to work. Look how bad the market is right now. Looks like we have a long way to go.
Immelt is not a good trader…seems like insider buys now signal lower prices instead of higher ones by these skin head crackpipe whore CEO’s…also please punch Wrangel in the throat
Charlie Rangel talking about taxes and “fairness” is like Jesse James talking about Bank security.
GE goes down, then all the GE suppliers go down. Big domino that starts the major slide and makes me want to break into my local REI and fill up a storage unit with camping goodies. AIG was a bunch of cocky fcuks who thought they were getting free money. GE actually makes products that can be sold. Not worthless pieces of papers.
The Messiah just said “profit ratios” make stocks a good buy now.
He walks on water, makes lions lay down with lambs, and he still has time to be an investment guru and analyze “profit ratios” to tell his cult members when stocks are a good buy.
Vladimir! Fidel! Hugo! Barack!
I used to do legal work for General Electric Credit Corp (based in Atlanta) about 12 years ago and they were incompetent then.
Believe me when I say GE Credit holds a bunch of worthless paper.
I dont think I can stand to listen anymore to congress and TIMMAY…..
it makes me sick to my stomach. What a load of crap.
This is what happens when NEW AGERS take over the world…..
.
lol@brk/a… at this rate it’ll be a penny stock by May
QCOM just raised dividend. Wait, when did they start paying a dividend?
Maybe you are right, but we now have bearish divergences on both the 15 min. MACD and the VIX. higher highs on the 3x bear funds mid morning, but no higher high on the VIX or MACD.
I am buying puts on the 3x leverage bears. I sure as heck am not buying common stock in anything.
concistrading.blogspot.com
Obama analyzing the stock market and talking about “profit ratios” (What the hell is that?) is like Karl Marx talking about the benefits of starting one’s own business.
unbelievable…but i now miss Paulson…
TC on fire today 🙂
Had an extra cup of coffee today.
TraderCaddy,
THAT’S SOME FUNNY SHIT! 😉
It’s comforting to know that during the greatest financial crisis since the Great Depression, we have a man leading the nation whose biggest financial decisions have been centered around managing his household budget.
Oh wait. His wife was the breadwinner, so she probably controlled the purse strings.
Never mind.
Wow. Is that the first time Geithner actually sounded like he has balls in his briefs?!!
Geithner sure does have plenty of hand movement.
I say fire him and let him be the puppet master for Kermit the Frog or Miss Piggy.
Answer the fucking question. Where is the money going to come from
!!!!!!@!!
Hey Fly,
I have an idea for the website. This would make the end of capitalism a little more fun.
Start a subsite called deathpool.ibankcoin.com. On this site, have a game where everyone predicts bankruptcy for specific companies.
This way we can celebrate when the bastions of American Capitalism go under instead of wallowing in our depressed financial state.
It could even be a money maker for your website by charging people to take part in the game. The most beautiful part about it all, is that when the game is over, the money that you have to pay out to the winner is worthless.
GE’s stock is being pushed into the ground. it’s done. nobody is going to put a bid in for that.
Isn’t it funny how the Chairman of the committee and the Treasury Sec are talking about taxes and both are tax cheats.
http://market-ticker.org/archives/846-Here-It-Comes-GE.html
Timely post. Someone is betting GE goes bnkrpt?
Yes T MOE.
They are well qualified to open up an H&R Block Franchise somwhere.
Idea_man, that’s a good idea. Of course lets make it free, there is a recession on you know.
Winners get free iBankCoin T-shirts with the PPT “I am easily satisfied with the very best” etc.
The game can be a floating window on the right bottom of the screen that stays there regardless of where you are on the page. All the blogers sign in so there call signs (me= TheArtist) are up with the predictions.
The game has predictions for:
1)Banks of your choice that will fail and when
2)When GE will fail
3)When North Korea will invade South Korea
4)What will be the next industry to go belly up
and a line for further suggestions prior to the games official game start day (once the game starts, no more entries perhaps)
there can be daily contests, and weekly and of course the “whenever” ones like above.
great idea though. we need some other activity, this market is so fucked up and boring, I’m falling asleep over here.
mmmmmmmmm GE share price…..delicious
The fly is a homosexual cock sucker
I’m 100% cash and loving it. Why haven’t you made any plays on SKF?
I think a tax of 90% on the rich via consumption would be fair. Say you go into your local Chinese joint and they ask you to present your tax return, if you make over 150k as a family then you have to pay a 90% tax on your food, if you make under 150k then you get your food for a 20% discount. I mean this makes perfect sense right? Am I missing something comrades?
So if your a smart guy you call up your local transient on his Blackberry and say hey fuck go get my food, after he does you pay him 10% and you and him both get a 10% rip courtesy of the other unsmart fucking idiots. Genius I must say.
I feel like a mountain lion, trapped inside a rat.
Have to give credit for the “I am easily satisfied” quote to Churchill …Oscor Wilde also said something similar..probably where Churchill jacked it
I just want to see The Fly make money on this site. The PPT is a nice idea for a premium service, but in a market that is only headed in one direction, there is little need or desire for people to spend the money.
People want diversions from the malaise of the developing Economic Depression. Fly could bank coin on people’s need for diversions by providing a fantasy game where everyone can mock the sad reality that is Capitalism.
As long as it is a money maker, and a diversion for us all, I am for it.
I’ll tell you who is next, the insurers. Half of these fucks have modelled s&p 950 as the point where they can continue to pay things out. Wait till they all announce that every annuity out there aint gonna get paid as well as a good percentage of life insurance contracts.
After that i think we get to see a bunch of big pension funds fess up to how underfunded they really are. When calpers finally admits its 65% underfunded you’ll see gun lawys repealed in the republic of california in hours.
Dig a hole fuckers this country is done.
GE leverage 100 to 1
idea-man:
Large enterprises in a socialist/communist regime only go broke when the state fails. Until then, they bleed the treasury dry as the state continues to prop them up so the masses aren’t thrown out of work and rioting in the streets.
Failed companies like AIG, FRE, FNM, C, GM and Chrysler should have been bankrupt long ago. But they’re going to keep sucking hundreds of billions of dollars from taxpayers, er uh, I mean China to keep them afloat until China finally decides to take its ball and go home.
At which point, life as you know it changes. Forever.
The IRS will now fill out your tax forms for you. The clowns dick just grew spikes and will now spit acid into your ass.
I like that gapping, i’d vote for it. Heres a better one, since the magic negro is all about fairness how about no individual is ever allowed to earn more than 50k a year no matter what business they are in or how hard they work. Thats would certainly be more “fair” than having all these fuckgin people earning more than me, i’m fucking being oppressed by them ovah here.
Btw, Fly, GE isnt “bewitched by demon sorcerors”. The stock is getting the cock-slap to chin that it deserves for having such a diseased balance sheet/income statement.
Aside from 50% of its earnings coming from GE Capital, their debt is pretty high: $693B. Good luck with that.
Assets are $797B, of which $81B is good will. Yeah, write that $81B off. I’d also be curious to know how much of those assets consist of bullshit businesses that add nothing to their bottom line and can’t be sold.
Myself being a minority I guess I would go for that too TGiR. I mean honestly I only make about 12k per year as it is on my taxes.
Fly, are you going to make up a real actual “Asshat of the Month” award as in a physical trophy to mail each month to the winner? that would be so cool.
And photograph each award with the winners name etched into to like an oscar.
You could have a trophy shop mold some in plastic and have them plated in the gold trophy look.
Fly, have Danny get on this, you’ll only have to remind him 3 times. (as he has yet to put “ape raped” and “clown raped” and “godzilla raped” definitions into the iBankCoin dictionary)
SatanicChihuahua:
Very good point. Although, not all companies will be spared. We could still have a game where we predict who will be “saved” and who will be allowed to fail.
For instance, who would have thought they would save Bear Stearns only to let Lehman go?
For instance, choose 50 companies from the S&P 500 that you believe will go under. Then choose 50 that you believe will be saved by the government. And another 50 that you believe will not need any assistance (If you can find 50).
It really doesn’t matter. I am sure Fly can come up with some sort of game that would make sense, and would give us some entertainment in the meantime.
My compliments to the person(s)who do the concepts and execution of the artwork that accompanies your opinions, they’re some of the classiest things about this site.
TGIR,
I agree. The next shoe to drop for America will be the bankruptcy of the annuity model. When mom-and-pop lose their retirement income stream because ACME Insurance company cant make the monthly annuity payments, watch the pitch forks and guns get pulled out of the cellar.
If you’re unemployed, foreclosed, annuity-less, (and, perhaps, MADOFF’ed) you’re one angry, dangerous mother-fucker.
We joke about riots and revolution. But those are the ingredients.
The recipe for I’M MAD AS HELL, AND I’M NOT GONNA TAKE IT ANYMORE.
Is that Putin standing up there with the green tie?
Did he get swept into office with Obama?
And the guy on there now with the big bow tie. When did Pee Wee Herman get elected?
I must remind all of you I was the
greatest CEO of all time!!!!
IS ANYBODY WATCHING THE POUNDING GENZYME HAS BEEN GETTING AS OF LATE? HOLY COW!
GENZ is getting a venomous viper released up its ass.
Yes, Jack you were.
And the group on CNBC Squawk Box won’t let us forget it. EVER.
Phil:
But….but…. this is America. The Land of the Civilized. I am sure people would never do such a thing as riot in the streets. The LA riots never actually happened, it was all a media fabrication.
America is different, right? RIGHT??? RIGHT??!!!!!
What is really stupid about people who actually believe this country has a future, is that they have NO idea what poverty is. People in this country, including the “poor” believe that being poor is needing to get in the welfare line and food stamps while driving to a McDonald’s drive thru in a beat up Cadillac.
They need a wake-up call and a window into their future by taking an chaperoned trip to Warez, Mexico or Sao Paolo.
This country is beyond fucked! We have 100x more infrastructure to maintain than any other nation. How will that ever be paid for?
The Great American Experiment was fun while it lasted.
forming a vigilante team, we take turns going sniper on local pieces of shit…long ammo.
WTF pattern Alert !
WTF pattern Alert !
WTF pattern Alert !
Ok back to my cave….
Oh by the way.
NET FUCKING FLIX being bought.
The stock not the company…. then again volume is monster!
Prepare for war homos. Oil will moonshot soon due to middle east country desperation. Man your battle stations!
I got dibs on Disney World.
NFLX up in BBI bankruptcy news
OH BBI bad NFLX good!
What’s up with BX?
Did Mao buy more of the stock?
Jack Welsh was lucky. Let’s face it.
His tenure (1981-2001) coincided almost exactly with the start and end points of the greatest credit bubble/economic expansion this country ever saw.
GE rose with the market, levered to GE Capital (a risky business which credit rating companies chose to ignore as they assigned their AAA rating issue to GE) and an every-increasing appetite for growth by acquisition (over 2,000 acquisitions were made during the Welsh days).
Welsh paid up for acquisitions but was not hamstrung because the entire market had mojo and momentum. This was the same model employed by Sandy Weill at Citigroup. The model works great during bull markets. GE got the best of both worlds — the leverage of a souped up bank and rock bottom capital costs, courtesy of AAA credit (usually afforded to ultra-safe, risk-averse companies, which GE was not).
Oh FLY Oh FLY will WNR go up? Do you still have some. WTF if you don’t know what and how to buy a stock why are you trading? Thanks FLY for WNR. I moved my stop up just now.
Watching Obama talking to the Dep’t of Interior employees and he is constantly ripping the Bush people.
Never have I seen a new President rip the previous administration as much as he has.
NFLX is the new GE/XOM for institutional buyers. Looks expensive. It’s a miss for me…Probably go to $50 in the next few days.
Works for me if it goes up.
cheap and easy- NFLX SFLY TIVO
some biotech– PBE BTIM LZR ODSY
new gamble–JSDA $1 going to $2
TradeCaddy: Someone needs to tell him he is president now and that he can’t keep blaming others. The honeymoon is over bitch time for your promises to come to fruition.
Oh Yeah and who couldn’t use a little TNA
SatanicChihuahua Says:
idea-man:
But they’re going to keep sucking hundreds of billions of dollars from taxpayers, er uh, I mean China to keep them afloat until China finally decides to take its ball and go home.
At which point, life as you know it changes. Forever.
Yes, change for the better, at that point the dollar crashes totally and the rest of the world gets paid back gradually at the new dollar level (which works out rather well for you guys) Suddenly, American based manufacturing becomes competitive on the world stage due to the low dollar and America starts to base its GDP on actual products and services as opposed to just debt. Becuase the American people can make better shit that china the recovery of the USA is guaranteed.
Fin
This contest sounds a little like intrade.com
Idea_man,
You’re witnessing the end of the notion of American Exceptionalism. The idea that bad shit can’t happen to America b/c its citizens are more “resourcefull” than their international counterparts and the economy is by nature “more resilient” than others. There’s no such thing.
The truth is that the country lived through a 25-year period of credit-binging and excess. The tab is now due.
If you have ten vodka shots and blast your car into a tree, you’re going to suffer the consequences (injuries or loss of life) — whether you’re Joe Nobody or a rich celebrity.
The same applies to economic boom and bust cycles.
Somebody please take Geithner’s hands and handcuff them to his chair.
Doesn’t he know it’s not polite to point?
Becuase the American people can make better shit that china
———–
really? why? bacause we have more fingers? hands? legs? brains?
No we make better stuff than China because we leave stuff like lead and toxic mold out of the products we make.
only for about last 25 years… and what about salmonella in the peanut butter? was not made in china.
No. That was Jimmah Carter’s (peanut man) fault.
He is an advisor to Hamas.
2. Dogs won’t get ill eating kibble n’ bits
3. Electronic devices will last longer then 6 months
4. Meat won’t be substituted for newspaper.
5. You will not die from any mysterious illnesses eating food/snacks.
NFLX headed for $40 faster than a …
to Brit Trash Says:
Becuase the American people can make better shit than china
———–
really? why? bacause we have more fingers? hands? legs? brains?
Because you are superior beings who can create and innovate as opposed to just copying shit that others push in front of them, poorly.
we invented far more stuf than weget credit for. and we copy at the moment because that gets us quicker to our goal. Behave, or i will push “sell treasuries” button 🙂
We make shit alright, My wife and myself built our two story house, out of the city, with one permit and no help. Furniture too. From our business winnings. We did not cause this fuckery, but we are ready for the fallout. Zombie brain eater watch soon! Thank you Brit for the props