Should City Center file for bankruptcy, MGM will likely follow suit and all of the contractors working on the project will get hit too. As a result, unfortunately, I sold out of my PCR position, for a loss.
I bought some SRS, based upon the MGM situation and the possible jarring effects it should have, for the REIT sector. However, keep in mind, I am just getting started. For now, I will continue to hold my little NSM position.
Apparently, the market forces are ignoring such detrimental news and attempting to bottom fish here. My hunch, such efforts will result in outlandish losses for the assholes who choose to ignore things, such as reality or non-fiction.
Don’t get me wrong, I do not wish death to U.S. equities, only a deep coma. I am not bitter, whatsoever, over missing out on the biggest rally since, well, the great bottom of ’74, not at all. “The Fly” is a simple working man, who harbors no ill intentions against asshole dip buyers or idiot bank lovers.
Coming back to the idea of “reality,” it is very possible for us to bear witness to the greatest ponzi scheme (U.S. Gov’t) ever concocted, since the “The Great Stimulus plan of 12,331 B.C.,” where all cavemen were encouraged to put leopard skinned rugs on their cave walls, instead of the cheap prairie dog kind. What a ruse! At any rate, we may very well see the Dow Jones Industrial Average drop by a whopping 50% from today’s levels, based upon good ol’ fashioned DEPRESSION and WORLWIDE FAMINE.
Pardon me for being a two bit alarmist. It is my style.
UPDATE: I sold out of my BUCY position for a .30 win!
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WTF-DRYS still rockin he he
Employment numbers may be a lagging indicator, but that lagging indicator gives insight into the state of the economy in the future. As the 2 million people who became unemployed over the last few months start to run out of unemployment benefits, and can’t find a job, what will happen next? More foreclosures, more defaults on credit and loans. less spending and more unrest.
If the job picture does not improve the Greatest Depression is still on the table
Even a bankruptcy won’t halt city center, too much invested already. PCR may come out ok. It will be built in some form. A delay will hurt, too soon to tell how much.
You have been a complete schizo over the past few days. I blame it on your sabbatical from the market. It’s not good. So now you’re full on bear?
PCR is not done yet. They are larger than city center. City center will be completed in some form. Have a little optimism.
The bear respects no human
FLY, Looks like you sold BUCY to early tard. Thanks for your shares.
You fools, the Fly always wins, even when it appears he is losing! Show some respect! He banks major coin, year after year.
Fly bottom! Fly bottom!
t moe-
As larger waves of unemployed are scheduled to fall off the rolls of unemployment, the gov will certainly extend benefits as they have so often done.
By our Fed gov standards, it’s cheap, direct stimulus.
there’s a difference between being schizophrenic, and understanding that market conditions change (and therefore positions in the market must change as well). to believe otherwise is tantamount to religious dogma.
SCO is ripping.
Enjoy the scraps of my BUCY sale, loser.
Nice call on BUCY Fly. Others suggested JOYG, once again Fly wins.
Cheers!
ACC diving.
Duh, I missed the part about you selling. I am still long.
Cheers.
Sold earlier today.
DRR ripping.
Babysteps Fly…it’s been a coupla weeks.
Perhaps you should change the oil on the time machine and add a little oatmeal to the gears.
rofl:
where all cavemen were encouraged to put leopard skinned rugs on their cave walls, instead of the cheap prairie dog kind
Time to turn off CNBC. Power Lunch is the worst segment on TV
With you Fly on the DRR. I have been holding it for a while now. I like you call at the end of last year that the Euro will cease to exist
SCO is so tempting. Where is Jake to talk me out of it?
IBM getting hammered
Go with SCO – of course, I went with PCR. CNBC should have bikini Friday, no?
Anon— cnbc bikini day? not with the current bloated skanks…perhaps some south florida Hooters girls each friday..
Scary stuff from Mish:
Wage Deflation Tally
9 Publishers
IBM
Hewlett-Packard
Microsoft
Con-way Freight
Shinchang Electrics
Wage deflation is setting in like wildfire in the publishing industry. Technology and trucking are affected as well. Budget cuts in California and other states are affecting teachers. Rest assured this is not inflationary news.
—
Could be a while before DUG sees $18, but then again, as the good host might put it, Don Quixote of La Market appears to be very much alive and well.
In fact, I think he is running CNBC.
Can anyone explain the difference in trading volumes between DXO & DTO. DXO has traded 12 million shares so far today, compared to DTO’s 100,000 ?
The Fox gals a far prettier and stupider (if that were possible) compared to the CNBC gals. The Fox gals show a lot more leg and cleavage too.
If it’s bikini day, I suggest they do it on Fox.
anon:
Wages adjusting to the current circumstances is not deflationary but a good and needed process as the market does it’s thing to realign to economic reality a very deep recession
the alternative is Europe where prices stickiness in the labor market leads to higher unemployment.
In fact it was Hoover/FDR’s policy of not allowing wages to adjust that that caused the depression.
If prices fall faster than wages, you still win. This week was Monday – let’s wrap now!
Come on Pro Traders the Bear is asking you to dip buy in this Bull Market. If I get back into the market I might hedge a little. I will wait until Monday at 15:00 or so. For what ever reason stops are being manulaulated to stop out the average fuck. If that stops and we still go up a rally to 9800 is not impossible. For now consider the Bull a Bullshit market.