Oil has been fucking the market from the get go, thanks in large part to XOM’s earnings miss this morning. Now we are seeing bank and CRE stocks fall victim to profit taking and/or bear raid. As a result, the whole market sort of just rolled over.
I do not like buying into roll overs and will hold back on any planned buys, unless of course the market reverses course and poleaxes the bears.
The positive points to highlight are strength in tech, as evidenced by the greenish nature of the nasdaq and the over abundance of better-than-expected earnings being reported. I believe 70% of companies exceeded analysts expectations this quarter, always a good sign.
The risk lies within the fact that we have run higher, over a very short time frame. It is normal for the market to consolidate gains, even scare the shit out of people, via an egregious one or two day decline.
Despite my bullish position, the market appears to be very fragile, albeit within a very tight range. The market has done nothing for more than a week and it is beginning to worry people about their exposure to a market that “potentially” could be topping out. As you know, seasonality dictates to sell in May.
I contend, allow the market to breathe a little and try not to watch every tick, for it will drive you mad. Believe you me, I am very tempted to sell everything and lock in 30% ytd gains, but that would be foolish.
I am here, with a heart filled with fire, to bank coin on a large scale. No one ever got rich being a coward or degenerate day trader.
Trade accordingly.
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Fly- true dat…but knowing when to fold-em…and escape a thunderous decline helps as well…godspeed…may all UAW execs get swine flu and have their Chrysler break down on the way to the hospital..only to find out they have no healthcare plan anymore…suck on that
I believe yesterdays description, “idiot hamster wheel” applies today also. FIG.
Did anyone find it a little bizarre that the Prez said to “Buy American” scary shit.
Take the money and run.
Spend your days pimpin’ out all these new free Pontiacs and Chryslers.
Buy American is a treasonous phrase. I agree.
Signing off from Craziville.
lets do south Florida math..(quite reliable-especially during elections)..Crapler shutting down plants..no pay..GM doing same..but black bart..says all is Well…?? Hmmm- i will add to shorts here..fuck Obama and his socialist regime..
CPLA..looking ugly here…school stocks are fucked cause UAW workers are broke and too stupid to read..short.
Beware of major overdue corrections that wipe out all the upside and then some in your bullshit momentum portfolio
Looks like a suckers rally.
South Florida math is like Chicago math only it’s served with plantains and coco leche.
Trader..yes, and the weather is better as are the women..Doll House last night in Tampa…wow…why am i married again…
good post Fly.
Is it in Ybor City?
Danger Will Robinson. This is scary shit right here. I am comfy with my positions as I have been cutting many out sized gainers into the head fake on the SnP yesterday. I thoroughly believe that is what it was too so you know. But I am just taking profits and letting my short positions work for me (FAZ and a huge short on HME). FAZ is a wonderful hedge in my opinion as you can get major short exposure for a small amount of dollars. But it all depends on your strategy. If my FAZ was to turn positive (up $1 from here) I will start to buy a small amount more and throw a stop on that bitch. Bottom line hedge hedge hedge unless you are betting on fucking black, in that case DNDN is your play.
After thought: Watch for DEVILDOG to come out of his sewer hole today with all guns blazing like he owns the place.
Trader..no just outside downtown Tampa..Ybor i stay away from..too much ammunition and alcohol
I used to do some work for Tampa General and remember going out to Davis Island.
Very Hoy Paloy.
Trader..yes high end is Davis Island…still is.
Indeud.
Dennis Kneale is a fucking idiot.
He requires newer nouns and adjectives.
The latest scientific developments in insultery, beginning but certainly not ending with “fucktard”, do not suffice.
And then there’s his girlfriends.
Fly,
The Naz hit its head on the Daily 200 sma.. Ping pong.. now back to 20 sma where it could spring one more time before we sell in May.
Good to see you around Sierra.
DON’T BE A PATSY.
Agree with Sierra, CA & I were just looking at that.
Hmmmm, Fiat making Hemis and no future for Pontiac …. what ever happened to “The Humbler” days?
http://www.autoblog.com/2009/04/29/great-pontiac-commercials-of-the-past-1970-gto-the-humbler/
We-wease DevilDog!
Buy American what? Jumbo jet? Cluster bomb? WTF??
This market is outrageous, egregious, preposterous.
Dummy Government which already has a senior secured position is going to provide DIP (Debtor in Position) financing (billions) and which will go down the toilet.
If the Lord Messiah Obama didn’t keep attacking the private sector (hedges, etc.) they my have been glad to provide the financing and move up the priority creditor ladder.
But the again, Santa Claus will make an appearance on July 4th.
i just wanted to let everyone know im up 100% on a 100k in the last 9 days. thanks kush/fly
Good for you lucky.
Now cash out and buy a couple of Chryslers.
Be a patriot for the cause.
Lucky, on what stocks?
one word jf, karma
Yea Lucky, but how’s your Flyesque repartee
u said it urself. mayb next time ul realize the great opportunities even u have in ur shitty office
Also Lucky, don’t forget to ask for the lifetime Pelosi and Frank Quick Lube and Oil Change which will come free with each purchase.
888.60, down we go weeee!
up 1.2% where did all my profits go? sniff….
lucky was just a nonsequitor there. its all calculated risks. whatever stocks have earnings: 3%stoploss on a short and buy of each under 15$, or that had 8%+ moves the day b4, or are announcing big news the next day. by the way i buy at night and sell in the morning within an hr of waking up. up min of 2gs a day every day with max at 25gs a day. im actually out of everything this very second. yes its all in cash to reiterate that for u. i will buy stock/etfs tonight. hedge my bets 3%either way and take min $2k profits tomorrow.
just so you know im always in all cash or all in the market at one point everyday.
volatility!!!! perfect in a sideways market which i called 2 weeks ago hahaha
more like buy a 2005 s600
Lucky no names….where did I put my bullshit stick.
Bulls are noticing some moistness in the corners of the row boat they have been crossing the ocean in.
ur bs stick is in ur fuckin ass dousche face pafuckio, just where u like it. yes i am challenging ur manhood gramps. i beat up old ppl in retirement center parking lots for fun. stock market is my income. dont fuck around with my income.
fas/faz,dndn,svvs,rgr,mso,pcx,hig,mww,eslr,cmi to name a few from yesterday. go fuck urselves if u doubt me. im outti
So, who is the brainiac that decided Fiat can lead Chrysler into profitablity?? Who’s driving Fiats??
What the fuck is wrong with some of you people, are you on fucking crack or just complete fucking idiots? This is not a Yahoo homo board. 99% of you should be banned for life or possibly from life. I don’t know how a rational sane person could spew some of the shit you people say. Truly egregious.
I hear you Lucky, swinging that big 100k dick, all you had to say was what you were doing IN ADVANCE with names.
Most people here make some or all of their income with the Market or didn’t you get that?
Don’t mess with Granpa.
You mess with Granpa you mess with America.
Go take some first grade English classes.
Who do you think you are?
ee cummings?
bulls bears and pigs..timely and yet ironic….who gets fucked today….Obama staff member has swine flu…oh this could get sooooo good..
LOL @ TraderCaddy
Well played.
I bought American! A new ’79 Cad diesel. The engine blew @ 27,000 Mi. GM fixed it under warranty after a month of “negotiating”
It is the last American car I bought.
My wife had problems with a ’93 Ford Explorer & now drives a RX 300.
Moreover, we once lived in Bloomfield Hills surrounded by the cream of corp America.
Still, it is sad to see how greed and arrogance destroyed the US auto industry. The auto workers worked for wages: no work/no pay unlike execs with private planes etc.
Meanwhile, the CEO of Costco earns 100K/yr.; has a 1 yr contract and visits every store every year.
When I do buy American it’s at Costco.
Who was it who said “greed is good?
You’ll thank me later:
http://doihaveswineflu.org/
Hey Bait Bucket, how about buy american technology? Yes, we used to make steel and cars and all kinds of other shit, when it was cutting edge, but it’s not, so we don’t. I’m so sick of all these right wing pussies screaming about how “america doesn’t produce anything anymore”. Yes we do, and it comes from cocksucking, limp wristed, married men in california, deal with it.
EDGR poised to benefit from more controls on financials…(own it).
CPLA crapping the bed…
Gin martinis directly ahead..!
Peace Bitches!
http://www.thestreet.com/story/10494537/3/kass-risks-associated-with-second-derivative-rally.html
No one ever got rich being a coward or degenerate day trader.
Amen.
the bears are about to rip your face off fly, and I will be there to piss in the wound. I say this while still thinking you heroic, although I’m still waiting for the return of horatio clawhammer.
btw, if you wanna see a dip-buyer, checkout APP. That fucker has been on a rocket ship tot he moon
poof your bullsh*t rally is gone
Buying SRS here at 23.50. It seems I have battered spouse syndrome.
Fly,
Do you think TSM is just on earnings euphoria or are we finally starting to see the effects of your thesis?