Okay, we caught a 10% jump off the lows. My gut says we rally until May. However, we will not run up in a vertical line. So, with that in mind. I sold out of my entire TNA position, in an effort to decouple myself from 300% upside etf fuckery.
Selling TNA gives me some buying power to nibble on other names. But, I would rather wait for a pullback, considering we are still in a bear market and all. Right now, my cash position is north of 60% and my gains are north of 23% aka “more than you.”
God willing, the market gaps up tomorrow, enabling Senor Tropicana to sell more of his well timed longs, just in time for a glorious weekend.
NOTE: My AXP ripped higher, despite multiple downgrades. Fuck you Goldman. Fuck you Citi.
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The Fly is God
The best bet would be to sell into this rally IMO as it ends soon. Yes I am net short and getting my teeth kicked in, but until the job picture improves I remain a bear. I will sit on 50% cash and wait until the hammer drops once again after this market is finished sucking in all the fools.
fig fig fig fig
selling into this rally as well, will be out completely if it hits SPX 800
23% is child’s play.
Zip
Keep in mind, you manage a child’s account, while I am dealing with elephants.
Jed,went ballistic when The Graty did not arrive with his Slap Chop.
let’s hope you put more research into your stock picks than you do in assessing the degree of my account’s pachydermata.
Enjoy your Benihana tonight.
WTF ?
Nice work Fucker! Fly thanks for blogging and PPT.
Something tells me its probably not a good thing that GE is up 67% in 4 trading days.
it is my understanding, and someone can correct me if i am wrong, that for the first time in the history of the stock market, there have been 2 days seperated by only one, that has seen breadth and upside vs downside volume exceed 9-1 ratios. never before that has occurred so close to each other.
imo, that’s important.
mcdongle,
quite frankly: go fuck yourself.
O speaks. Financials don’t like it/
This is why you have to be nimble and trade one day at a time. Hold one day too long and you get royally fucked. Look at SRS & SKF and any other iETF.
Chivas,
Good point on the 9-1 up volume and down volume day. There have been a few during this bear market and have failed. I noticed it as well which is why I went long in addition to the waterfall effect.
Wall Street vet Marty Zweig used to say two days in a row of 9-1 would signal a new bull market.
But then again, that was before Personal Computers, internet, a multitude of hedge funds, black boxes, etc.
So it probably doesn’t mean much anymore.
Chivas and Jake, here is a good link about the 9-1 up days. Within this article is another hyper link to “identifying Bear Market Bottoms.” Click on that link, go to the Charles Dow awards folder, and you can download the article. The researcher looks for clusters of 9-1 days to determine a bottom. I don’t think you’ll find better research on the topic.
http://quantifiableedges.blogspot.com/2009/03/why-tuesdays-90-up-day-may-not-be.html
this is not only upside vs downside volume but also advances vs decliners or breadth. both of them 9-1 ratio. in this bear market, this is the first time that’s happen almost back to back, and never has included breadth.
Wood,
i read that the last time you posted it. it includes 8 times.
like i said, this is a combination of volume and breadth. the combo of 9-1 ratio so close together has never happened before. in this bear market just the the volume side of it has not been this close together.
imo, the combo of volume and breadth in one day with 9-1 ratio, two days close together is important. unless you think breadth is not important.
Nice link Woody.
Here is one mentioning Zweig.
I knew I read it somewhere as I figured out I have his book gathering dust in my library.
http://icedrakin.wordpress.com/2006/11/05/upsidedownside-ratio/
Chivas, it is the link within the link that you want. And I have never posted either link before.
The link within the link, “Identifying Bear Market Bottoms” should deal with the clustering that you are seeing.
Wood,
yes you did, in Danny’s blog. the title was, Pretty Soon, in his blog. the date was 3/11 at 8:44 A.M.
does the article include the combo of breadth and volume?
Wood,
i went to the link and it only deals with one time events and not clusters. also, it is not the combo of breadth and volume.
maybe i went to the wrong place.
Wood,
just got your e-mail. sorry for the above. read that link. sounds very bullish to me.
Get ready for FRIDAY THE 13TH.
Alright … it’s been a while since I’ve posted here. First of all I want to say that I’m MAD AS HELL, and want to kill somebody. Scumbags (CAP) were able to capitalize betting against me, NOT because they’re smart, but because the Obama administration is more incompetent than the Bush administration. Something I didn’t expect. In fact, Obama can’t even speak without a teleprompter … yes, he’s a dumb fuck too. “Ahhhhh, Ahhhhh, Ahhhhh” … SHUT THE FUCK UP!
Now with that said, I bought more FAS on Monday & Tuesday, and have now managed to bail myself out of the fucking hole. My average cost is 5.92. I fully expect to double my money within the next few weeks. My positing in BAC is well into the black. I will probably buy more BAC tomorrow if it pulls back, because it’s going to $10 and above.
One final point! There is another fucking bubble that’s formed in the US … the “doomsayer bubble”. For the record motherfuckers, we’re gonna get out of this mess, and the market is just now starting to realize that. However, the economy and the way you spend will not be the same.
Now Fuck You!
8)
Chivas, I’ll be damned, you’re right I did post the link in Danny’s blog. Honestly, even seeing the proof right in front of my face, I do not recall it! Sorry…
Donny,
Now, Let me make one thing perfectly clear …
wtf does anything have to do with vietnam?
audit the fed
Today’s OEW Recap:
“The SPX broke through overhead resistance at the 734 pivot. This pivot was support for the market in November 2008, and failed support before the market made its recent new lows. It’s been a ‘key pivot’ for the last three trends. And, it appears it will continue this role in this potential uptrend. With todays rally this pivot is now support, and the 717 pivot becomes important too. It was tested yesterday and then retested again this morning. From last friday’s low at SPX 667 the market appears to be impulsing. This rally has not been choppy like the rallies we have experienced during the two month downtrend. As long as the market continues this type of wave structure, and holds support at these two levels, we can assume that the downtrend was over at SPX 667, and a new uptrend is underway. Clearly this market is a bit overbought.”
http://caldaroew.spaces.live.com/blog/cns!D2CB8C5EBA2ADE86!32799.entry#comment
WTF does Ann Skeletor Coulter have to do with Financial News? New lows for CNBC.
It was fun to watch Hugh Hendry clash with another Brit on CNBC Europe. The topic was deflation vs. inflation. In essence, Hendry made the point that all the overcapacity in the world will result in deflation, while the other guy thinks quantitative easing will reflate.
WTF
Nothing has changed. The obama PPT still has no plan. GE C & GM still are going to ZERO. WHY – WHY do you think this bull/bear market is going up???
We are doing the 1932 march to the big “D”. You can’t buy 9MM ammo or SPM Primers. Maryland is going to outlaw hand guns soon…
Adolph banded guns too……
Hey FLY, here is the Hugh Hendry youtube of him clown fucking the inflationista. http://www.youtube.com/watch?v=Eq2_L9x-6GQ
also this one http://www.youtube.com/watch?v=T7FjN2ZMdSk
DANGER:
Market is now like an Aboriginal, razor-edged, three-sided boomerang.
b/t/w: Anyone see how strange MOS behaved today?
I think a wicked wind Mosaics’ way blows…and it smells like super-skanky overpriced fertilizer.
Obama still prints…
And uses wide-lined paper…
Mike Capuano is a fucking blowhard, hippocritical, arrogant, asshat. He should be cleaning shitters in a Boston subway…
I guess Obama got the message about not talking down the economy. The crisis over. Go long everything.
BTW… If you’re afraid your monkey will catch AIDS get some of this stuff.
http://www.webmd.com/hiv-aids/news/20090304/new-vaginal-gel-stops-aids-virus
If your monkey is a total slut, it may let you apply it yourself.
Obama doesn’t give a rat’s hairy ass about the economy. He is a Communist. He wants a socialist economy (read: everyone equally miserable with him presiding over the suffering masses). I, for one, am wise to his fucking game.
Guppyworldwide:
Any idea why EOR popped 48% and MVIS up 27% today? Feel free to e-mail me. [email protected]
Mars.
Gotta love this… this would have hurt the mkt psych last week
China ‘Worried’ Over Safety of U.S. Debt, Wen Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=a.z1.V13_8G0&refer=home
(wait a bit for the story, they just posted the lead)
John Stewart you liberal bastard…
You my dear friend are “The Man”
Comedy Central.
History being made at 11:20 pm EST.
Cramer is on the verge of tears. Holy crap. Anyone else watching Jon Stewart?
The Fly is God.
Fly, not for your eyes. Please don’t read any further.
Zombie:
Has there ever been a time when you thought the Fly was a mere mortal?
J: I’ll have to check my early posts from over two years ago. I’m fairly certain the answer is “no.” I knew he was God after his HANS, RIMM, BWLD, GME and AAPL calls. His timing on the entry and exits points on those stocks was quite Godly.
Have you checked out that Midnight Oil debut album yet? Or any of their following kick ass tracks?
The Fly is God.
Stewart should do a month with a different cnbc asshat each night.
Stewart does his show with an asshat every night…
cramer is to stocks what stewart is to politics