Who said you cannot have fun during a Great Depression?
The last three weeks have been the most joyful/outright giddy stock market experience, for me, dating back to the olde [sic] dot com days, when I’d regularly embarrass/humiliate my peers for being behind the curve.
Some things never change, sort of like when you were a dork in High School, unable to get girls.
As for me, I sold out of 40% of my NGAS position, all of my WRES and bulked up on FTK, SD and ATHR.
My thesis: get long names with heavy short positions and push for max pain. Lean on those bearish idiots for betting against anything. For fucks sake, this market is a runaway caboose from hell; it makes no sense to be short. None. What else do you need to see? For the love of jam sandwiches, WFC was up 24% today, AFTER failing the so called “stress test.”
This is the type of market that you just lay your balls on the guillotine and say “I fucking dare you.”
As an aside, during this melt up, I have been increasing my cash position, by way of not spending my winnings. My cash position is now upwards of 20% and my hedges are virtually nothing.
Into the bell, my notable trading positions are: FTK, SONS, ERX, SD, ATHR, LVLT, OVTI, ARUN, CDNS, CAVM, NVLS, MSO, NGAS, DELL, BRCD and a smidge of FAZ and SRS.
With gains nearing 50%, year to date, I have an incentive to protect my downside. However, before I do, I intend on taking one more victory lap.
NOTE: Special thanks and praise to “iWin” on The PPT for bringing CROX to my attention. May the Gods bless iWin with the decapitated heads of his mortal enemies.
NOTE: Gio gives an update of PPT domination.
If you enjoy the content at iBankCoin, please follow us on Twitter
Epic Day!
did interney little piker puke jail release all the retards here today…WTF…go buy all pink sheet stocks..
Put on SDS at the close and will short SPY on the open.
PPT Community owned the market today:
5/4/09 Community Wins
EMR +16% realized @vcutrader
FRO +9% today @iwin
CROX +55% realized @TraderJoe
CROX +35% realized @Mets57
CROX ? @Dubz @Jworthy @TheFly
JASO +10% realized @vcutrader
JASO ? @ragin, @mda1125, @howie2092
NGAS +7% earlier today, with exit. @Fly
WRES +24% move today. @Fly, @TraderJoe, @ChartAddict, @Equalizer
And @jnuts crushed everyone with XTXI +67% today.
Congrats.
Indeud. I have had more fun the last 2 months working than ever before.
Wood,
You’ve been waiting for that one… me too.
Fly is god.
(this is how it works, right?)
this market seems to think the more X’s in a name, the more it moves higher? wtf (see: XTEX, XTXI, CROX).
May the Gods bless iWin with the decapitated heads of his mortal enemies.
That’s one fierce ass kitten.
__________
after the bell.. WFC looks like Wells Fargo initiated with an Outperform at Oppenheimer
Target $30.
Lazy, yeah, I’ve been one patient sob. Everything about the setup looks great. Strangely, I did not even get butterflies, as I sometimes do when stepping in front of a steaming locomotive.
What It Is – http://www.youtube.com/watch?v=8p2JwzPfUsQ
Anybody know of any public ammunition manufacturers?
http://www.cnn.com/2009/US/05/04/ammo.shortage/index.html?eref=rss_topstories
Am I missing something here, but didn’t GS dilute their shareholders? They’re trading at 134? Anyone, aside from DD of course, thinks SRS/FAZ is a good buy at these levels?
Wood.
Remember – the emu sometimes jerks around before he dies…
That was FUNNY shit.
DevilDog’s wave count is wrong, although he is right about it being a 5 wave affair and the downside is far from over. FAZ/SRS are horrible buys now.
Lazy, those emus do a lot more than jerk around. They will literally rip the 6 foot high chain link fences apart.
I’m hoping that this market will go a little more gracefully than that. If not, I’m in for some real pain.
slopeofhope made all the same plays. do you two subscribe to the same newsletter?
RC and CA deserve a raise. They helped me bank some major coin today.
Fly do you think we will end up on the year in the SnP? We are positive for the year currently.
shorted 100k shrs of q’s near close. starting to build a position.
i guess my title of perma bull no longer applies, at least for now.
want to say hi to everyone.
Hey Chivas, long time no see. So you are starting to become cautious yourself as well?
Thanks Fly and PPT. Up nearly 13% today.
other that corrections the only time this melt up is going to end is when the bond market takes it up the warzoo… and I mean really take it up the backside where the Fed can’t control it any more. I reckon there’s one to 1/2 years left of what people think are good times.
It will simply end in a inflationary crash. Not yet though.
(NCS) is ready to btfo….it has the HUGE short interest that you speak of and technically the chart is almost perfect…caught the breakout today over 4.50….see you at 9.50 and if you are really a greedy fuck with a little more time, the shorts might get it to the 200 DMA and 18.00/sh. courtesty via bear-shitter rocket fuel.
Did anyone see CA’s handy work with the green shooter saber?
http://tinyurl.com/dmn8cy
Anyone here taking any trades on SKF? That sob is at an all time low. Will it go any lower, or bounce back?
Mushroomz,
Banked any serious coins today, you marked ass trick?
someone said the move looked parabolic from march 9th. I think it looks more like a limp dick.
I know price is the only thing that pays us but today’s volume was shit. We did 262 Million on the SPY’s when average is around 360 Million. Just pointing this out that it’s only 70% of normal.
Fly, I few weeks back you had a dream of DUG at $18. It’s getting close. Are you still viewing that dream positively?
Fly,
Thanks for MSO. I banked some small coins on that biatch! It’s too bad about TBSI. I was going to visit that skank, but you exited it, so I didn’t follow into it. WIsh I had.
FLY….u still holding them there CROX?
Congratulations Fly! Well deserved victories……It always pays to be ahead on the curve….Prospecting not suspecting!
Wow, that was what I call a glorious Monday…. but it’s also a good time for traders and investors alike to remember Sic Transit Gloria Mundi!
__________
DD got a blog! FLY must have been drunk with his winnings. Did I miss a memo? When did Fly lower the bar?
Strange sequence of events folks. First Jake is hired, and the intellectual BTUs increase tenfold (at least) in just one day. And I say only tenfold, because of a few of Jake’s politics. 🙂
But then he hires DD? Why the fuck does DD need a blog? It is easy to know DD’s thesis: “Crash is coming next week”. He’s been saying the same thing since ever. What gives Fly?
OK, here is my theory: DD is not really allowed in the PPT (where the smart people are)and Fly is fucking with us, non-subscribers.
Fianlly, as a protest against Fly’s horrible act today, I will not refresh the blog for the next 30 minutes. Watch your traffic dissapear Fly!
And if that does not work, prepare to deal with organized tea parties to protest your decision to hire DD.
Off to drink myself silly and puke
I forgot to mention above I wish DD best of luck. I still hope he is dead wrong at this time (again) of course. 🙂
Hey DisGrunt, DD is here on Mondays and that’s fine. That said, you tell everyone why we are banking egregious gains. And be specific.
Everyone is playing the momentum. It won’t last forever.
Follow anyone at your own risk!!
Come one disgruntled, DD is like a breath of fresh air in this den of smelly disgusting bulls. One reader (me) recently had the audacity to buy BAC and run with it a for a few days.
This article was posted on News 13. Frightening really
TALLAHASSEE — The economic downturn hits home in the Sunshine State as Florida has been tabbed a “no growth” state, meaning population growth has come to a standstill.
State forecasters said the projected standstill is the first since Florida began making population estimates about 60 years ago.
Florida is expected to have about the same population — 18.8 million — this April as it did in April 2008.
The projection marks one of the most radical demographic changes in state history
The no-growth trend may continue, as the Office of Economic and Demographic Research showed population growth is expected to be a fraction of a percentage point over the next three years.
I guess all those vapor trails in the sky have been taking a toll.
Fly, is a “smidge” greater than or less than a “tad” and how is it in relation to a “smatering”?
just curious
ott:
I don’t know the answer as to the “why” the population has experienced the most radical change in history. It is nontheless significant.
In college, a friend of mine from Germany, a foreign student, was wrapping up his Master’s prior to accepting some Econ position at the U.N. We discussed population growth and decline as it relates to Economics. He talked a little bit about Germany and how inevitably the population adjusts to the economic conditions and the ability of the economy to naturally sustain it’s population without military expansion. My instinct tells me there is no correllation with what he was talking about.
This has had an impact on corporate profits and real estate prices, I can assure you.
Florida housing
Crappy Florida economy based, in large part, on building houses for people who can not afford houses…
+ people are not buying 2nd vacation homes and/or moving on a whim as the economy sucks all around…
+ Florida does not look so “Florida” anymore from the outside with the collapse in Miami housing, the horrible hurricane/insurance issues, and a crappy job market…
+ hard to move here if you can’t sell your old house…
= no population growth.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aiiT.sNeq2YQ
It’s the vapor trails. They are the only phenomena correllated with the drop in population growth rates.
Some of you will disagree with me, but that’s only because you are unaware that the tunnel Cuban agents were using to kidnap Americans for the canefields have been shut down.
As far as the reported aerosol spraying for R&D on climate control goes, there are those who believe it’s a heroic initiative. I’m not convinced. It creates complacency amongst the population.
I can only state the facts I know. Fact: Airlines were used to attack the United States on September 11, 2001. Fact: Delivery systems such as U.S. mail or airlines have been used as a delivery vehicle for biological weapons.
Complacency in those two areas aren’t in the best interest of any American.
100% cash across the board for me. Bailed out of FOE, IO, DRYS, and AINV and am content to sit and watch a bit. Hit a double with DRYS and a triple with FOE. Yeowza! There might be some upside left but I don’t have the stomach for it.
anyone here find it amazing that the economy as a whole is really and truely in the shitter, yet since Obama took office, everything they say (lies of course) point to rainbows and butterflies all around forever, and enough people have suckered into the fold enough to jack this fake market up this high, and they keep believing the bullshit and keep buying stocks? How fucking convenient for Obama.
I mean things like LVS which was 1.38 just 8-10 weeks ago is now 10.15….
Is anyone gambling money in Las Vegas all of a sudden? I don’t think so.
with no end presently in sight.
or am I the only one?
Recognize anyone?
It Takes a Village Idiot: The Jerks of Online Forums
http://www.pcworld.com/article/163734/it_takes_a_village_idiot_the_jerks_of_online_forums.html
Obama says get into the channel – the upward channel and out of the vortex funnel. Obama says wash your hands and cover your mouth when you cough – brush after every meal – floss regularly – check your tire pressures.
Everything is fine. You can trust everyone. There are no hobgoblins that want to do us harm. The DOW is going to 20,000. Everything coming from the television has integrity and you can trust your television to give you good investment advice.
A bear market rally off S&P 666 is a no-brainer.
My pick for a surprise catalyst will be interest rates, not just this week’s auctions, but going forward as well.
I think bond market starts factoring in a bit of low demand, a bit of fear on when the fed de-accomodates, and a hefty dose of risk/reward favoring equities over bonds.
When fed buying can’t keep up with it, newsflow shifts to the bond market/rates and equities catch cold. Not mortal, just flu.
Ask yourself, why exactly are rates this low? Nobody even wants fed money anymore, and it’s still free? How long will THAT last?
the poster known as ‘donny’ has been quite scarce since the inception of this ddog experiment. additionally, this ddog seems to express itself a tad more coherently than the primary ddog that i recall. further, ‘donny’ appeared to have been somewhat appreciated by various resident tabbed doodes round this joint. never seen in the same place? just a notion.
The correlation is with the price of government. The higher it is, the less demographically capable the populace. Not a good model for a system that relies on warm bodies to provide state finding for, well, everything.
Better create a Matrix.
__
Artist,
I’m right there with you. This “everything is gonna be alright” mentality has gone on longer than I believed it would (but now I won’t be surprised if we are still going strong after 1050 on the S&P). It is amazing to me that so many people think everything looks like a big basket of sunshine and puppy dogs; but I think this is bad for Obama in the long run.
He listened to the wrong advisors. If they had gotten the big downturn out of the way early in his administration, the economy and the markets could be stabilized and back on the upswing in 2-3 years; just in time for re-election. They are just postponing the big bad, extending the downturn and pushing the eventual recovery out to far to help with re-election.
Artist,
Here is the answer to your question…
http://www.theonion.com/content/news/nation_ready_to_be_lied_to_about?utm_source=a-section
Artist-
You are singing to the choir, my friend. Lunacy. Plain and simple. The US Government wants the market higher and the Messiah..er…Obama will make it so. Ask and you shall receive. I have no idea what will bring this market back to s sense of normalcy. None whatsoever. I am short, so what the hell do I know?
RE:Buckeye Bob – jERKS OF ONLINE FORUMS
The fIRST gUY – Jed
Self Promoter – Danny
The Sermonator – The FLY
Mr. Credentials – J
The Antagonizer- DEVILDOG
The Moderator – Moober
Peacekeeper – Woodshedder
SmartyPants – JakeGint
Fanboy – The Zombie
The Conspiracy Theorist – Jeff
The Signature Dork – mRKCBILL
Johnny One Word – RC
I do have a myspace. Perhaps it can provide some insight into my twisted perspectives.
http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=4031700
I would have pegged me as The Sermonator. But I’m happy to be nominated as The Moderator.
Well, I’m on the train, I play alone with trends and fuckery. I will ride the dumbshit train as far as it will go up. I ride alongside with all the stupidity this market is puking up right now.
But I am convinced that the truth will come out one day and when the fuckery and lies can no longer be accepted, and the real story cannot be hidden, the market will crash down harder than it did from DOW 14,000 to DOW 6500.
I have no idea when this day will come, but there is no fucking way the government can hide, what is the number now 20+ trillion in subprime loans on houses worth 40% less than the original price, and I know what Obama is up to. He is trying to falsely prop the market up fast thru lies and falsery to the point that everyone does indeed feel like all is permanently better, and he wants, during this period of bullshit falsery to have home prices rise enough from the bullshit falsery, giving people a sense of positive feeling that they can go out and pay up for this house again so the banks fix themselves over this timeframe. Then thru complete lies and fuckery the situation will have fixed itself thru a headfake.
But, I cannot see it happening. I cannot see people across the board falling for it. I see this scheme he is working the people over with backfiring.
See, this entire situation we have today came from housing, offering any swinging dick a mortgage in one day with no proof of income and a house for no money down, a 100% loan AND they even gave people a second loan to cover the closing costs, so millions of loans like these were generated, and with these millions upon millions of these loans out there with them defalting still to this day and all of the ones the banks have on the books already (on top of the mark to fantasy, which is really this….mark back to the original loan amount) is just impossible to hide this shit hoping it will fix itself thru this scheme they have conjured up.
any comments welcome.
Move over CROX
“High Tide Heels” will take over the world
Ticker: FGLY
http://www.telegraph.co.uk/news/newstopics/howaboutthat/5274864/New-beach-shoes-combine-high-heels-and-flippers.html
“I cannot see people across the board falling for it.”
I see people across every board falling for many many “its” all day long.