Today’s tells are DIG/ERX. The market cannot rally, without the support of oil/gas stocks. The bull argument is based upon a weak dollar, strong commodities and benign banks. So far today, we have none of that working for us. Therefore, I am on a buyers strike and will look to lighten up further, whenever the garbage collectors come knocking at my door.
Don’t get me wrong: a 25 point decline in the Dow is ridiculously bullish, following yesterday’s melt up. I mean, if this is the best the bears can do, they will have their teeth knocked out for them tomorrow, when the dip buyers step in. My cash position is around 25%, give or take a percent. My goal is to build it up to 65%, then just chill the fuck out and watch you midgets reach for the light switches.
I’ve decided to refrain from shorting anything, barring a black swan event. Basically, I am content with being up 50%. There is no reason to get aggressive, betting against an 8 week trend. So, going forward, my strategy will be to scalp quick trades and/or accumulate some of my favorite names on dips.
Right now, I like [[BRCD]], [[FTK]], [[SONS]], [[LVLT]], [[OVTI]] and [[SD]]. Providing the market declines, over the next few days, I will add to the above names, with style and in a very dignified manner.
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AAPL buys twitter?
Boom,
This is from one of the Twitter VCs:
“Perez Arrington now saying that Apple will buy Twitter. Every week the prick takes up space and traffic with a bullshit story…asshat!”
about 4 hours ago from TweetDeck
Its Springtime, The Country is tired of being depressed and doom and gloom. We want to hear about green shoots not poop shoots. We want legacy assets not toxic assets. We want to hear from Bob Doll and Ned Riley not party poopers like Roubini and Whitney.
TheArtist has called this rally to the T….PPT manufactured to 10,000 because we so like round #’s. Not there is anything wrong with it. Watching GRMN.
Re: Apple/Twitter
Just more rumors:
http://gawker.com/5240350/could-apple-buy-twitter
Fly,
What are your thoughts on OCNF? Also, is it time to lock in profits on PCX (I have held from 5.50 for some strange reason)…
Thanks
Twitter seems like a money trap.
watching GEL… want to buy on a dip. good growth.
Fly,
Why SONS? I can’t get excited about it yet but i know i’m going to miss the spike.
girls….fuck the Twitter shit okay…call each other..we dont fucking care…get it shitface…?
Where’s the first wave of dip buyers? They’re late today
fly,
Do you think we’ll see a 50% up day on Thursday for FAS after stress test lies are officially out?
SONS= 386 mill cash/no debt
Sell PCX, imo.
Fly,
OCNF? buy here?
Are you tired of lonely evenings? Enjoy them with Russian Women. That is all.
This message brought to you by the fucking imbeciles at Yahoo Finance.
I agree with cash-n-guns…twitter is designed by homos for homos.
The dips will be small, the rips will be large. I don’t see any large down days for the next few weeks. What you see now is the dip, 10-20% gains (individual stocks), 2-5% backtracking on days like today (individual stocks).
Too much forward momentum, this 100 ton iron train will take an ass load of effort to slow down to a stop.
So, to all waiting for a 200 point down day, it ain’t happening. For the next while, if you are looking to dip buy plan on a 2-5% retracement and jump in, cause that will be the entire dip.
small dips, large rips.
The days of huge down days are over for the short term in my opinion. I’ve been watching the down days and they are small and inbetween 2 or 3 or 4 up days.
until further notice, carry on.
Artist, by the time further notice is received, it will be too late.
C-n-G/Sully:
Don’t let the world pass you by…
Show all this newfangled technology who’s boss and tell them to get off your lawn!
A debt is a short cash position – i.e., a commitment to deliver cash that one doesn’t have. Because
the dollar is the world’s reserve currency, and because of the dollar surplus recycling that has taken
place over the past few years (much like the OPEC dollar recycling that occurred in the late 1970s),
lots of dollar denominated debt has been built up around the world. As dollar liquidity became tight,
there was a dollar squeeze, i.e. a forced buying of dollars and selling of other currencies to make debt
payments. This squeeze, much like the one that occurred in the 1980-85 period, hit dollar-indebted
emerging markets hardest (particularly commodity exporters) and supported the dollar. The short
squeeze ends when either debtors default or get the liquidity to prevent their default. In recent
months, the Fed, the IMF and other central banks around the world have produced massive liquidity
at least in part intended to relieve the short squeeze pressure. It looks to us like the magnitude of
extended and committed liquidity is nearing the point that it is sufficient to alleviate the squeeze.
In all deleveraging cycles debtors are cut off from rolling their debts using new credit, which means
that they must come up with the cash in order to pay down the debt liabilities that are due. The result
is a massive demand for cash across all debtors that can only be satiated by the printing of central
bank reserves and the channeling of newly printed money to the borrowers who need it, and in the
process choosing which entities will and won’t survive. While the Fed initially stepped in to provide
some dollar liquidity, it was primarily for the developed world and largest emerging world countries,
leaving many borrowers outside the liquidity circle. In recent weeks, the commitments of multilateral
institutions like the IMF, in conjunction with the increased bi-lateral facilities between those with
foreign currency and those who need it have put in place trillions of dollars in possible foreign
currency liquidity. While it’s likely that some entities will still remain outside this newly created
liquidity, it has significantly increased the liquidity for many borrowers. In addition, even the promise
of having these facilities in place has been supportive of new private sector capital inflows,
particularly into the emerging world. For the dollar, the bullish pressure that had been supportive is
now fading. The easing of such a strongly bullish pressure is clearly beneficial for many borrowers of
dollars who need a depreciation of the currency to ease debt burdens, and re-exposes the weak
underlying balance of payments position of the dollar.
The recent announcements by the IMF along with additional bi-lateral swap lines have brought the
total amount of foreign currency liquidity available for borrowers to nearly $1.8 trillion dollars in total,
with more than $1.2 tln available for borrowers in USD. The chart below gives a picture of the
amount of total and USD-specific liquidity capacity that has become available through time, including
a rough estimate of the amount of the newly announced IMF funding which could go to borrowers.
The recent IMF program funding announcement not only expanded the total amount of likely USD
liquidity, but is also likely to provide that liquidity to those countries which to this point were unable to
access significant dollar liquidity.
” “
Woodshedder, it’s never too late. My grandmother is 97, she never saw the ocean in her entire life until we took her to the NC coast when she was 73 to see it in real life for the first time….
Have you guy been watching smith and wesson–I have it, and forgot about it..It was 2 bucks just about a month ago, not almost 7 bucks.. The insiders started selling at 6 how much higher will it go. It was up again today..I do hear a lot of talk about more people are buying weapons,,Just wondering..