I am absolutely livid over the prospects of boom times. It is, as the great Greek philosophers of 20,000 years ago used to say, “right around the corner.”
Get this, the United States of America ONLY lost 663,000 jobs last month. And, previous month job losses was revised upwards to the tune of ONLY 80,000+, putting total losses around 740k.
Are you kidding me? This is fantastic news. Just last night, I was talking to my neighbor “Steve” about politics and worldwide famine, over a flaming barrel of garbage, he said, and I quote: “we’re gonna lose like 2 million jobs this month.”
Based upon Steve’s expectations, these numbers are great; do coke and buy stocks, w00t, w00t!
In other good news, North Korea is scheduled to launch some kickass missile that can obliterate Hawaii.
w00t, w00t!
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Kneale before the fly, for he is Zod.
Fly, don’t fight it, we’re going to 900…then the world ends.
I have been 100% cash for 10 days and late yesterday I couldn’t help myself…I had to at least stick a half toe in to the long side just so I don’t feel like I’m missing all of it. My hope is to get out today with some gains and then wait.
Once we hit 900, your end of the world thesis will be back on the table.
Hope my mom and dad leave Hawaii first before they do their “test.”
For SKiFfles my FAZzles
I need to find a CDS or some other hedge instrument for my positions that Devil Dawg may or may not go long on.
MON — case in point.
At least he’s short gold… whew.
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This beginning of the greatest turnaround ever is fun. Remember when they talked about depression 2 weeks ago? Fun times. In other news I am going shopping for a new 100 inch teevee this weekend and I might pick up a car while I am out, at GM of course.
Over/under on how many times we’ll hear about RIMM’s numbers today?
I call bullshit and cannot embrace the bullish thesis up here. The reversal in AZO yesterday and continued premarket weakness in GS and LNC, etc makes me uncomfortable buying anything up here except REW.
RIMM did well because Obama carries a blackberry and refused to put it down, despite national security concerns.
To think, Captain America is out there promoting a CANADIAN mobile company, instead of good ol’ fashioned American ones is simply FANTASTIC.
Everyone should move to Canada and adopt a seal.
i live in Hawaii. I ain’t worried, we got this ginormous radar that can locate a projectile the size of a baseball miles away.
http://www.defenseindustrydaily.com/images/ELEC_Radar_SBX_ABM_Radar_Pearl_Harbour_lg.jpg
We’ve had quite a few NFP days where the news was horrible and the market screamed higher. But those days were in the middle of big bear moves. Now we’ve got horrible news, but we’re in the middle of a big bull move.
I think folks have been trained to sell the rumor, buy the news on these NFP days. My guess is they’ll get burned for that today. Stocks’ll be down 2%+ today. My way to play was to add to my Euro currency short after the report.
BTW Fly, why buy DRR when you can just short the Euro outright?
More good news to push the market higher (especially financials):
The large banks – which have been bailed out by the government – are brilliantly preparing to use that bailout money to buy up toxic assets from their rivals. The humdrun business of ordinary lending is far too boring and has been squeezed into the margins.
Full speed ahead – the financial dynamo behind this market is undefeatable. (remember to always trade with the trend my friend)
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we dont adopt seals here Fly……we club baby seals….then we turn them into good old fashioned seal skin bindings……
http://www.youtube.com/watch?v=-oomzNikFqE
I can’t handle all that good job news.
I don’t care how well RIMM did, my tell is still my retail sales to the average consumer, and they STILL SUCK after a minor bump up at the beginning of March. If they aren’t spending, then in their view they have no extra money to spend.
Also a Blackberry is cheaper than an i-phone, consumers are still looking for the “low price alternative” in my view.
meeting lowered analysts numbers is not too hard. that is what is going on now. the kicker will be right when the analysts keep lowering the expectations in the quarters of the actual turnaround when the companies are actually making money and really beat them by a mile not just a few cents.
but anyone that owned RIMM just at close, made 17% in the first 6 minutes after the news came out.
does anyone here have any tidbit of info on alcoas outlook for tuesday earnings? I can’t find much expect news on shutting down some smelters and what not in NY.
I call bullshit and cannot embrace the bullish thesis up here.
Keep in mind what somebody said here just a few days back:
“Bullish” is just “bullshit” without the tee.
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TraderJoe — that news was posted here via a very helpful illustrative video (by a guy named Khan, I believe) showing how the only “private” investors who would be incented to “invest” in this PIIP thing of Giethner’s were the actual OWNERS of the toxic assets themselves, as they could borrow the “private investment capital” from the taxpayers and then mark the shit to fantasy.
Quite edifying. I will try to find it again, if you request.
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Sure I am interested Jake, if it is not too much trouble.
In return for your trouble I would like to send you my favorite beer commercial, starring James Cagney:
http://www.youtube.com/watch?v=WdhUE_aViKc
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Geithner’s bank plan allows the banks to continue their giant shell game.
“Goldman and Morgan Stanley have pledged to increase investments in distressed assets, the paper said.
This week, John Mack, Morgan Stanley’s chief executive, told staff the bank was considering how to become “one of the firms that can buy these assets and package them where your clients will have access to them,” according to the paper.” retuers
And citi is thinking of selling and buying package assets.
Thats right, the shell game continues. Now that they can mark to some crazy model, The banks are going use tax payer money to swap the shity assets at inflated prices just like they were doing before all this shit started. — Brilliant fix there tiny Tim!!
What a fucking joke!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Bring back black Friday!!! The bankers enrich themselves with our money playing a fucking shell game. WTF?
Thats right
And I too had a good time last night Fly.
Sorry I had to give back the Obama campaign buttons you gave me about ten months ago.
It just doesn’t seem relevant anymore.
remember the “toxic” assets are not really “toxic” they are fucking houses built on top of land. and the fucked up shit is these banks will indeud make a fucking mint off this.
houses will go back up in value and the banks with the help of us taxpayers will buy back these “houses” at 5 cents on the dollar and sell them back in 5 years or 10 for 100 to 150 cents on the dollar…….
Seeing those pictures from the G-20 with all the world leaders, looks like everything is going great. We are all going to be great pals! THUMBS UP GUISE!
Jake, if I remain bullish at least through today, can I take The Fly’s place in the jeep (better known as the funvee)?
Trader Joe —
Gotta love Old Style.
Here’s the piece by Khan Academy, which I think is a website, but not sure.
This is officially “part II” of a two part piece, but it’s not necessary to watch part I in order to get to the part about which we were discussing.
But you can click on it in the sidebar if you want to see a bit more about the whole Ponzi scheme.
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Doc Ig — I dunno man… those hookers have been up for 48 hours, and they’re literal blow hoovers…
You might have to bring some “with.”
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Mark David:
Dude, that header on your website is gay.
Not that there is anything wrong with being gay. Unless you are a Romanian goat herder.
“To think, Captain America is out there promoting a CANADIAN mobile company, instead of good ol’ fashioned American ones is simply FANTASTIC.”
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Fly…lest you forget our President DID however gift the Queen with one of our fine “American Made” Apple iPods !
uhhh fwiw !
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MS falling again. I may cover some of my MS shorts not sure I want to hold them going into the weekend as there may be some kind of fuckery as been the norm.
WTF, No w00t’ing on IBC!
http://www.woot.com/
$$$$
Does anyone know what the story is with KIM. I know that last week they announced and priced an offering of 91 million shares, but has that offering closed? Did it draw huge interest. They said they were going to use the $620 million raised to pay off debt and for corporate purchases, how can this be a positive as shares are diluted? the stock is up 10%
They have been using revolving unsecured credit lines to payoff Senior Notes, kind of like using credit cards to payoff installment loans. This can’t be good long term.
You people sure can talk some shit. Who needs CNBC=Can Not Be Correct. The market is in total neutral state. Day trade or hedge. Better yet stay in cash until Mother Market shows her game.
so you saying even 30% move from the lows was not enough? you still need to wait and see mother market’s game?
OK – Fly writing w00t! is freaking me out.
It’s nice to see a Canadian company getting some freaking respect by the way.
The international central banking family elites control the most of the entire banking system already. They are working in tandem, aggressively manipulating the world markets, to make the global economy seem bright and beautiful, which will stupify the masses into believing New World Order global socialism is the obvious solution to the media-propagandized global economic death spiral.
The elites now have the power to create the world’s problems, since they have all tools at their disposal to do so — then they fabricate the solutions and sell them to the masses through their purchased media. The masses still believe the purchased media’s paradigm that regularly, intentionally suggests puppet presidents are the cause of problems, when the men with the real wealth and power, who own presidents, are the real culprit.
These elites are smart and savvy, and have a lot of smart and savvy people working for them. They are now structuring the world in a way that will alow them to control the fabrication of problems and their solutions, indefinitely. The idea is to keep the masses ignorant, to dumb them down, to keep them producing at record levels while killing off their growing numbers (and profiting from it, via “solutions”) with the intentional poisoning of the environment (GM foods, brain-tumor causing aspartame and cell tower/phone radiation, mercury-laden vaccines, etc.).
We are now officially at their disposal. The majority of the slaves around you still believe they are free. And this is the way to run a slave society — make your slaves believe they are free. Make them forget what freedom means. Twist their values and morals so far away from community, family, meaning, sprituality, and health, that they are no longer “human” — in essence, making them the perfect dumb batteries for the world machine.
So, yes – it makes perfect sense that now is the time to buy!
Geithner’s plan is fucked, has been since the start.
I live in Hawaii, and we’re not worried about North Korea’s missile. As long as they’re aiming for us, they’re probably more likely to hit either Tokyo or LA.
@ZenProfit – Stick to trading. You’re better at it.