While some take exception to the United States leveraging its GDP by 25% on asshole bailouts, most of you are gleefully skiing up slope to stock market utopia.
Remember back in the old days of three weeks ago, when the world was about to bust open and all banks were considered “retard boxes”? Those were the days; and how do I miss them.
Good Scott, in a matter of three weeks, everything has changed. Majestically, the economy has healed, led by robust phantom earnings at the banks and the prospects of hyper inflation. Indeed, we are building ourselves a fine foundation for sustainable growth. All praise and respect goes out to President Obama for constructing such a divine plan.
Now, we’ve been at this point, amidst the numerous bear market rallies of 2008, and you know what to do: take profits.
Listen to me now, thank me later: take profits.
I am not saying to load up on FAZ to SRS or one of my special “fuck you, you’re dead” REIT short ideas of decadence and debauchery.The prudent investor will size this rally up, give it a quick glance over, and sell it 10 ways till Sunday.
The time for rainbow colored hair and shrimp cocktail fights are over. You need to plan for the end of the world. As sure as I am sitting here, it is going to explode into small pieces and crash into the sun.
Trade accordingly.
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The Fly is God…where is everybody?
what would you say to “CRE stocks are a buy”?? hehe!!
my bad i bot faz @ 22…dont know what to do now….
Can I let it ride with tight stops? You know, like a degenerate OTB guy?
Fly – do you have a target on the SPX for when u’ll start nibbling on the short side?
Short: global currency
Long: US dollar
Cross yourself, for you’ll need all of God’s graces if you hold any longer than you should. Don’t learn it the hard way.
Couldn’t have said that ^^ better myself.
ZM
Inauguration year is historically strong for democrats because they blow sunshine and promise the moon. Obama is willing to spend any amount and Bernanke will inflate if necessary. The fundamentals will not catch up to them next week.
I have never seen this much red-headlined fear since Drudge started, I would read for a anti-CNBC wake-up call:
http://www.drudgereport.com/
I was thinking of moving to China and asking for political asylum.
We are SO FU-KED.
I predict battery acid rain into long traders eyes who look upward.
All I see is mustard seeds spurring everywhere …….
Classic stuff…the Fly rocks!
Insert obligatory AC/DC video “Highway to Hell”
In the spirit of general cheeriness and armageddon, I offer the following early morning reading, which I stumbled upon while researching a totally unrelated subject. Enjoy!
http://www.newscientist.com/article/mg20127001.300-space-storm-alert-90-seconds-from-catastrophe.html
http://www.newscientist.com/article/mg20127011.500-arctic-meltdown-is-a-threat-to-humanity.html
It makes the shortage of ammunition look like a rather quaint problem.
UUP is at the middle of a neutral range starting back from January 2008. If anything, that timeframe looks more bullish than bearish. That is super frikin bad news for the stock market, maybe it won’t kill this rally today, but it will kill it.
We can rally only when the dollar weakens= we only devalue currency, we are not in a position to actually grow
I tend to agree with ryan on this take on the US Dollar.
Lot’s of bidding up to get the best possible deal before it goes to pieces.
I kinda like what Cramer said however, when talking about the ‘dollar discussions’ – he said, to the effect, that lots of CEOs were saying things like ‘we would have made x billion instead we’re down y billion because of the dollar’ and he called it out as being disengenous because ‘no one was doing any real international trading’.
One look at the Baltic shows the accuracy of his statement.
“The End (of the rally) Is Near.” You’ve been warned.
http://tinyurl.com/cnr7po
The Fly went down to Georgia:
http://www.youtube.com/watch?v=7r5G-D245KY
FAS-FAZ – swap meet..this should occur(if) at approximately the $9.80 level…just doing some math not a recommendation. Hilary Clinton is a dumb skank not fit to give blowjobs…i stand by that.
Fly this statement sounds like yours, odd? Is this your new job?
” In essence, Paulson used the bailout to transform the government into a giant bureaucracy of entitled assholedom, one that would socialize “toxic” risks but keep both the profits and the management of the bailed-out firms in private hands. Moreover, this whole process would be done in secret, away from the prying eyes of NASCAR dads, broke-ass liberals who read translations of French novels, subprime mortgage holders and other such financial losers.”
http://www.rollingstone.com/politics/story/26793903/the_big_takeover/6
What happened to the “bull market until May” thesis??
“But before you even finish saying that, they’re rolling their eyes, because You Don’t Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they’re on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests”
Although I don’t watch CNBC anymore I bet they will talk all day about Best Buy…… a perfect canidate for them to pump since it “did well”
But lets not forget, that Circuit City went bankrupt and liquidated every store, and where-ever there was a Circuit City, there was a Best Buy across the street.
Best Buy did better than expected only because every Circuit City customer had no choice but to venture across the street to Best Buy.
This is the sole reason for this, it is not because Best Buy is doing something special, and not because the economy is getting better, it is mearly due to taking on the once CC customer that is now gone from every town.
read into this how you want, but when CNBC pumps the shit out of it today trying to convince people the worst is over and people are “spending again” they are, again, lying to you, as always.
Artist..your correct…I have also summoned a small band of Somalian pirates to kidnap the entire CNBC staff( ex-Santelli) and hold them ransom for nothing short of world peace..never to be seen…Sweet justice.
come on Cash, we all would take a blowjob from Hilary, just for the stories we could tell our grandkids…… “yea Johnny, so there I was chopping wood when she walked up on me, she just dropped to her knees and looked up at me and before I knew it she was………”
Well said, Artist. I completely agree. BBY enjoyed an unusual set of circumstances (only true competitor going bankrupt). Imagine if Target folded? I would imagine that might be good for Walmart. It wasn’t execution; it was circumstance.
Done for the AM.
Thanks SMH.
ARST broke out on price target raise
SFLY looking good over 9
added more ESLR at 1.829 for long term acct. (first buy at 1.48 on monday)
BOOM goes zoom
Will I be arrested for making so much coin on BOOM? One or two more days like this and I can bail AIG out myself.
Rally in the face of dismal job numbers, and a GDP declining by more than 6%. Plain old market fuckery to, suck in all of the sheeple. How are foreclosures going to decline when people keep losing their jobs at an alarming rate. How will the so called toxic assets be priced if the foreclosures continue.
The government will over pay to protect the bond holders of the banks. The government will give AIG more money to keep their counter parties happy, and the tax payers will get screwed once again. However not until tent cities start popping up on the White House lawn will BHO get it.
Bring on the revolution
hey, are you still in shorts or gave up the fight?
Bought RIG puts on today’s fakeout/breakout. MS is a short, too but I missed my entry this AM.
Boomer…isn’t there an old adage that says “when you’re yelling you should be selling???”
@henryfool…
just noticed ARST…congrats in a big way!
Still short SPY got in at $80. Been averaging in SRS and DUG. Gave up the fight on Goldman and lost my ass. Sitting in about 45% cash and building my battleship. Yesterday I bought more TBT. I do hold some longs. Mostly on the defensive side for long term holding. LQD, HYG, DRR, I also own a little TIP for an inflation trade.
I am looking to add TWM when the time is right.
If SPY gets to 90 I am going to put all of my chips on the table and short SPY
Sold lions share of ARST @ 12 .50
I am getting emails from 401exK type people asking what stocks to buy since we hit bottom. This is what the Bear wants more stupid money to play a little longer. So wait until the smart 401Kers load up and SHORT the Nose Mucous out of them.
Thanks jingle
I’m lovin it! Nothing better than banking it!!
Thats right Pricerunner. The big money is still waiting. These rallies are retail broker and mom and pop mutual fund driven. Mututal funds have to make their quarter look have way decent. Once the fools have placed their bets. The big money, the macro funds, will drop the hammer.
Watch ARST run to 15 now that I only have a 5% position
Of course, Kidstock! I little makey, a little takey.
ARST sold it all. 12.70
It’s chips.
The Government will choke the system with regulation and increase operating cost of the financials along with restricting their ability to leverage on trades there by decreasing their profit potential.
Leverage is inherent throughout capitalism. Money is created through leverage.
this market hates being red
Caesar Says:
What happened to the “bull market until May” thesis??
*********************************************
It’s still in as far as I am concerned. The pattern Nov 2000- April 2001 (Bush assuming office) is EXACTLY the same as the pattern Nov 2008- April 2009 (Obama assuming office).
A forty trading day rally which we are 1/3 way thru. Go to CBS Marketwatch and check the ten-year SPX or Dow charts.
And I’m more accurate and consistent on my four “GENERATIONAL” calls to date than Fly is.
I have what is known as :”Street Cred”. WALL STREET, that is!
The action in the TIPS market is interesting. Of course prices have skyrocketed since the Feds announcement last week. Inflation is on the horizon.
Just sold UYM 13.60
Bought SRS 56.40
This hype feels very synthetic…like 100mg of Viagra and Ecstasy cocktail.
Generational
You know nothing. You were calling the bottom in October. go fuck a goat
thanks for the reply, i was selling into the rally, almost out of all my longs and started nibbling on FAZ (FAZ-ed earlier in the rally too but then exited those at loss to reload…)
5 out of 10 investors and fund operators are money slut whores. They whine and complain until they are black and blue in the face when loosing money. They bitch and moan and want the government to stop the pain and fix the problem. Then as soon as the slightest ticker turns green they jump right back in feet first without any thought as to what just happened to them yesterday (and the last 2 years)
Nothing in the country has really changed for the better.
The Geithner plan to me (and this is only my opinion) will not work in the long run as well as they are pumping it up to be.
If the Fed is going to “cover” and subsidise the difference between the banks shitty loans “original loan amounts” and the new market “actual realistic value” then the banks have to write down the difference as a loss on their books. This alone will be in the hundreds of billions.
This entire plan is a coverup to mearly paint over a problem that will never right itself by just taking our tax money and using it to fill in the offset.
It seems to be working as far as brainwashing investors into jumping back into the market (as we have seen for 3 weeks) but really, who the fuck is dumb enough to think by white washing a rotted fence that the fence is back to new again? really people, the fence is still rotted under a waste of money on the paint that some lazy ass asshole used to try to convince the farmer that all was well and he will get 30 more years of service out of the fence. Only to find out 6 months later that during the nights wind storm that it blew the fence down and 45 of his cows are gone and 2 were killed by being hit by a car and now he is being sued twice by 2 different people for the mess and all because the “coverup” paint job.
I don’t fucking buy any of this shit. I do play the market but I play with a very light hand, ready to go in either direction. I have no idea how long this fuckery will last to the up side, in fact it has lasted a week longer than I possibly thought it would and the slut whores might jack this fucker up another 1000 points, but if they do watch out below at some point.
Two new jobs for Timmy “Tap Tap” Geithner.
An elf for Santa Claus.
An interpreter for the deaf (good hand movements).
where are the damned suicide bombers..their fucking late..suppose to take out congress and geithner in one swoop…fucking unreliable towel heads…hiring mexicans next time..
Holy crap, citing editorials from the left leaning Financial Times, now? (Note that last “lol” sentence about “not enough spending” during the Great Depression).
What next? Building a wraparound porch for the house, so you can yell at the kids next door and take their soccer ball when it lands on your lawn?
Whippersnappers! (shakes cane)
_____
HELLO,
ITS the end of quarter statement mailing time 🙂
OCT NOV down LATE DEC recovery .. end of quarter
JAN FEB down LATE MAR recovery .. end of quarter
rinse and repeat