You will know Bernanke and Co. are successful when oil is trading at $400 per barrel and it costs you $500 to fill up your tank. You will know Obama’s financial planning programs are successful when an apple costs $50 and you need to put your name on the waiting list for a bag of rice.
I am not a big believer in inflation yet, mainly because it is my belief lack of employment and assets gone wild will offset any and all inflationary measures taken by the Fed. However, if and when the economy does turn, your dollar will be worth less than grocery store jewelry.
As for this tape: tech is leading the way, big time. I like the story behind STAR, who make mobile core routers, providing bandwidth for smartphones—think blackberry, think Apple. The downside: by far VZ is their biggest client and 90% of their business derives from just 5 clients. However, they are trying to nail down Asian and European deals. If successful, the stock will double. As of now, they have 80% market share of the CDMA market, an awfully good bullet point for prospective European/Asian telecoms.
Also, across the board, chips are on fire. There, I like ISIL, EZCH, TQNT and AMKR. Within networkers, I like CIEN and TLAB. Finally, I bought some GU on a breakout and a little DE, just for the fuck of it all.
At the present, I am left with 15% cash, 40% long, 45% short.
UPDATE: I bought more SRS @ $41.80.
UPDATE II: I bought 10,000 WRI @ $10.60
UPDATE III: I bought more SRS @ $40.50.
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If you haven’t seen the greatest cribs clip:
http://www.youtube.com/watch?v=TFa6Yf-sCQ4
please let oil trade to $400.
Bought 2700 MON @ $77.07 earlier this morning. First sell target at $98. Holding 20K shares of DZZ @ average cost of $19.08. Holding 18K shares of UPW @ $19.28. First sell target @ $28.
Fly you still buying SRS and FAZ?
SRS to $30s…who knew?
Jake and j, how much are you guys down on GLD? You figure it out yet? Gold to $600.
The DEVILDOG S&P rally continues and gold heads down. Odd no?
Off to drink some rich man’s whiskey and eat some bear steaks furnished by Fly.
News flash…”The Fly is God” recommends RIMM after a 25% rise. Don’t forget to belly up to the bar and load up on SRS, FAZ, GLD and SLV! WOW…can we borrow your time machine?
boring fucking mkt…perhaps that means we have a late day melt up…buying 20lb bags of rice every week to stockpile along with ammo and scotch- great world.
Short. Think short as reasons to be long are old news.
Zombie uses his ears as floatation devices during seaborne aircraft crashes.
With TALF likely extended officially soon to rescue commercial RE, is SRS history?
hey do you see it going much higher than 875?
The end game has something to do with a Jeep, orange mocha frapachinos, jitterbug, and harmless gasoline fights.
to DD Says:
hey do you see it going much higher than 875?
April 3rd, 2009 at 1:52 pm Vote: Add rating 0 Subtract rating 0
I think we will pivot at 864 – 874 and do a fib .382 – .50 retrace of the move from 667 and then go higher into the 900s.
Short every double inverse to zero. Eventually they will all get there.
Yo, fly – double check your thesis on that wireless co – there is no CDMA in Europe, and many other CDMA carriers are building up LTE next gen networks.
can’t short the inverses…tough to borrow
Well I am off the the CME to put in my order for 100 SnP futures contracts. Its a sure bet and I might as well take part in a leveraged loan for it, worse case I take a fucking bailout. Fuck you all and I will be back soon.
Fly. Whats your take on emerging markets? VWO or EEM.
mrkcbill is heartbroken that Madonna’s sdoption attempt failed – he has Madonna tattooed on his butt – he thinks the new Japanese robot is hot.
MAC must have announced “certain bankruptcy looming”, only reason I can see for it to go up 35%
I think we will pivot at 864 – 874 and do a fib .382 – .50 retrace of the move from 667 and then go higher into the 900s.
————————
sounds like a plan to me
I thought Asshat® was copyrighted by iBC.
Where does Denninger come off using it? Did he pay the requisite royalty?
http://tinyurl.com/dkq8ty
if Korea did have a nuclear warhead attached to their fucking rocket, at the rate these fucktards are working this market “up” they could start WWIII and lob that fucker right on top of Hawaii and level it to smithereens and the market would shoot up 100% on the news, since the “street” would say “the devestation is not as bad as expected”
fucking ridiculous…….
Holy shit look at the banks roar back. My FAZ position is not looking good. Almost reached my exit point where I take my loss and lick my wounds.
ZenProfit, Less thinking please, free your mind.
Repeat for the DevilDouchenozzle, who slobbered:
Jake and j, how much are you guys down on GLD? You figure it out yet? Gold to $600.
Douchenozzle, I’ve been buying real gold since $270 and GLD since the $400’s.
Please hold DZZ “to $28,” Douchnozzle. But first, sell my MON you position cancer.
BTW — purchasing more RGLD here @$43. First purchases… $4.20’s.
_____________
Wow, Kimco Realty really went for a run today. Did they get some massive Federal Contract to design and build all the FEMA internment camps the US is going to need to house the masses of newly jobless? Strip malls are already a favourite hangout for the unemployed, I hear…
Fool said the other day that he agreed with DevilDog’s predictions on gold prices, and claimed that, after all, you can’t buy groceries or stocks with gold nuggets.
BS! Have any of you ever actually attempted to buy milk with gold? I doubt it. Maybe the ‘Meglomanian Food Lagoon’ staff would be too thick to take it, but I’d bet that your locally owned/operated corner store or farmer’s market would not be so slow in making such a lucrative exchange. And that is even if your country isn’t called ‘Zimbabwe’, despite all the similairities its currency has with the Post WW1 German Mark.
As far as the ‘can’t buy stock with gold’, that’s false too. Fool, send me all your gold (please)and I will set you up with any Bullion Bear 3x plus ETF you want, no hesitation.
FAZ to absolute zero.
Kelvin.
_______
Payday will come in the form of a
SFLY break over $10
it’s 9.99
UPDATE: I bought more SRS @ $41.80.
UPDATE II: I bought 10,000 WRI @ $10.60
UPDATE III: I bought more SRS @ $40.50.
Step away from the bottle of Jack!
Stop calling me Kelvin!
4fl3x:
Some one has got to be looking out for The Fly. He has been very distracted lately.
Contrary Indicator Says:
Yo, fly – double check your thesis on that wireless co – there is no CDMA in Europe, and many other CDMA carriers are building up LTE next gen networks.
Bollocks, England had CDMA in 2003.
PCR and TNA just sold off – Rally On! Tally Ho!
If inflation really is coming on, might start to show up in the Baltic Dry? Down another 2% again today.
In terms of sentiment this is the reverse of what happened on March 6th and March 9th.
Good luck to all.
Help me out here folks, why is it news that BAC paid TARP dividends to the FEDs. That’s part of the deal.
It’s news that BAC paid TARP dividends because Ken Lewis prefers having his head attached to his body rather than put on a stick by an enraged mob….or by Barney Frank.