We’re long in the tooth here. I like AXP, UYM and SWHC, but lower. Stocks can go much higher than where they are now: but before they do, we need to retrace a little.
It’s worth noting the carnage in commercial re names, specifically VNO, KIM, TCO, SPG and ACC. It appears investors are placing large bets against retail oriented REITS. I find little reason to bet against such wise men. Moreover, I find many reasons to fade the recent run up in REITS, via selling short “The Four Reverse Horsemen of Certain Death” (WRI, ACC, MAC and HME).
As for oil: I’m not feeling it right now, in either direction. Part of me wants to throw meatloaf at XOM. And another part just wants to eat pretzels, while ignoring everything about oil and oil related stocks. However, at the end of the day, oil shall and will trade lower.
Finally, the run up in C is just plain stupid. As a matter of fact, the run up in all of the banks is borderline ludicrous, absolutely gay. However, numerically, banks are cheap. So, should this rally continue, you FAZ holders may find yourself switching places with the FAS losers, if you know what I mean. Levered ETF’s are the work of the devil. Holding them for more than a week is dangerous. Fuck around with FAZ, next thing you know that fucker is hitting single digits and you are on the back end of a foreclosure proceeding.
Do yourself a favor and stay away from the banks.
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Today’s action is bullish for oil. It wants to go up.
The Fly is God.
God is Good.
@Phil_from_brazil.
Are you feeling we’ve started on our way to DOW 6000 yet? DOW may be headed there IMO, now. When we hit what sector will offer leadership? Can the banks be leaders coming off of 6000, or should I stick with Fly’s TNA reco, or both?
FAZ good for a bump higher here…banks overextended..and as fucked as a redheaded stepchild…GE back to 8.
Fly,
I have 0% on shorts/iETFs. Do you recommend shorting one of the reverse horsemen to keep little bit of short bias?
btw get ready for a big whoosh down in the USD… commodities up, gold up, interest rates up, treasuries down, USD DOWN.
locked and loaded.
Speaking of carnage.
Just got back from making the rounds around my house shooting my BB gun at the squirrels trying to destroy the outside of my house by trying to claw off my wood siding.
Must be mating season because they get pretty aggressive every year about now.
I tried fox urine (not pleasant when the wind blows), etc. but nothing works.
I live on about three acres of mostly woods so they are all over the place.
The little bastards.
…trying to claw off my wood siding. Must be mating season…
————————
you think the squirrels were trying to get to you?
Could be trying to get me.
I haven’t hit one yet so they have no fear. I have probably done more damage to the house with the BBs than I have done to the squirrels.
My bad on ACC, I made the innaccurate assumption that was an online diploma place. Fuck me and my lack of due diligence. Its going to zero with HME. I prefer HME though loving it long time before my due diligence.
**** UPDATE ****
Total equal weight diversified return short the horsemen as of now: 2.90%
I will keep tracking and updating, god willing we will reach 50% return.
Caddy:
Sounds like a scene out of Caddyshack.
So what you are saying Fly, for your money, you would not buy FAZ even right here when indicators point to way overbought conditions in the stupid insolvent bank stocks that should by all sane reasoning go back to where they were before the last five days of stupidity?
What is the indicator you are looking for?
FAZ should work over the next 24-36 hours
“Long in Tooth” is an understatement.
They must have put some plutonium inside the ticker machine to it going at this point.
Good god FAZ is down 70 points in 4 days? That shit is volatile as hell!
FAZ looks yummy at these levels
WRONG again Fly. Just stay in cash until you figure things out. Only professionals should be playing today. BTW, we rally BIG tomorrow right into the closing bell. Odd no? Hopefully, you’ll get a clue soon.
D-dog … you are not the real DDOG … if u r, you’ve lost your way .. tomorrow is way more likely to be down into the bell
we move higher before moving lower
Caddy, try some cayenne pepper on the areas they are chewing. That or some strychnine in the squirrel treats.
Foul, plague-infested rodents, they are.
Caddy – this is what you need
http://www.ebaumsworld.com/video/watch/80497485/
Bears and the Bulls in an all out gunfight right now:
http://www.youtube.com/watch?v=S9f58_p3hi0&feature=18
Caddy-man– Get some Makers Mark bourbon, a comfortable chair..and a 20 gauge shotgun(this way u wont miss)..and blow up the fuckers like a CDO at Citi
TC,
My mom had the same problem a few years ago. Success was hers after renting some cages and loading them with peanuts. Best part is, after catching the rascals you can drive by one of your favored neighbors (say DD) so long as they are far enough from your home, and release the little bastards in his yard.
Step 1. Look at chart from Friday
Step 2. Turn it upside down
Step 3. Write “Monday” on it
Step 4. Laugh and laugh and laugh
TraderCaddy, seriously, all you need is a cat. squirrels won’t come near anywhere a cat on the prowl is active…..I have 50 acres and live in the middle of it and have hundres of squirrels around but none have ever come near the house where the cat stays on patrol…..you want another solution, build one of these:
http://www.youtube.com/watch?v=1KdSJq9M_EU&feature=related
No more shares of HME to short today at my shithole brokerage. Homofied.
Goldman feeling the pain of T MOE’s sword
Why do I have the feeling we are losing buyers here.
because we are
Drip, drip, drip….all the market gains are leaking out of today.
CNBC can’t find enough people to talk this fucker back up 10 pts
TC,
Buy a couple West Highland Terriers or similar – Jack Russells, Welsh, Cairns – they kill squirrels very effectively – mice, rats also, with no damage to property. If you have a few acres, have a little pack of these guys. (Don’t mix the breed -m Welsh might kill the Westies!!).
Bred to kill varmints, but not thought of as such, as they are extremely affectionate to humans.
Thanks for all of the squirrel killing ideas.
I liked the Bourbon and shotgun one since I could enjoy myself even if I miss the little rat tail rodents.
I actually did try the cages and peanuts idea once but they sat on top of the cage and laughed at me.
It will be black bear roaming season (looking for our kumquats) soon and they tend to keep the squirrels away for awhile.
TC,
Terriers effectively tree bears as well.
Nothing more crazy than seeing these little dogs round the base of a tree with the dazed look of a bear looking down.
Yes, I have 4 terriers, who are adored. (by me!!).
(Your local shelter would love your business taking some Jack Russells (or similar) off their hands – too busy for most folks!