Go buy your neighbors kid a bicycle and your co-worker a new pair of pants. The market has become a rogue ATM machine, where only $100,000 bills spit out.
As for me: my cash position is now north of of 35%, yet I am saddled with lots of low priced garbagio, very much so.
To sum up today’s rally, I leave you with a phrase: THE WOODSHEDDER BOTTOM.
Off to eat a steak made from gold.
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FIG
I deserve that. Well played Senor Tropicana.
Enjoy Senior, you and the team here deserve a fucking platinum steak with golden magma bbq sauce
Took some BGZ at the close. I’m stupid like that..
What are the chances the ADP number was way off on the low side?
Thanks Mr. Fly.
When am I going to get my bicycle?
I would like mine with streamers on the handles and a Yankees baseball card in the spokes.
My Dad says thanks also. He is busy watching Oprah now because he is still unemployed.
Mom yelled at him the other day to get his ass off the couch and go find a good job like the one you have.
Rich, indeud.
Speaking of rich, what ever happened to that Richie Rich kid?
Jed, designs and landscapes Traffic Round-A-Bouts for small and medium size towns.
right now I hate the market. I get 2 steps forward and 1 long step back–I would like to quit trying to make$ n it, but yet I am determined–frustrated. Fly enjoy your success, you could be me.
Tonight’s OEW Summary:
“Thus far, this uptrend has rallied 38% from the low at SPX 667. A similar event occurred in 1929, when the initial surge of that Primary B wave rallied 37%. However, that rally occurred over weeks, this one has taken two months. There are some interesting fibonacci relationships with this new count. Minor C = A at SPX 923, and Intermediate C = A at SPX 946. With the OEW 912 pivot being exceeded today the next resistive pivot is at 935. This is in the middle of both fibonacci relationships. The market is now about as overbought as it was during Intermediate wave A on the daily charts. The weekly’s display the most overbought condition since the bear market began. Also there are negative divergences on all lesser timeframes. In other markets, while we have been waiting for Gold to confirm an uptrend it’s companion Silver has already confirmed a new uptrend from its recent mid-April low.”
“What are the chances the ADP number was way off on the low side?”
What are the chances that all market movers worth their salt already know this, and don’t care?
No haterade here. I just wish shorts would learn their lesson so we can just bury this infernal market once and for all. No bears on this site per-say, since a good 1/2 are paper traders without doubt. I direct your attention to a silly little CNN article.
“The level of short interest, the number of shares sold short but not yet repurchased, for several of the stress-tested banks is higher now than it was before the credit markets collapsed last fall.
Short interest in Bank of America as of mid-April, for example, is up nearly 50% since mid-September of last year. Short interest is also up sharply during the same time frame for Citigroup, KeyCorp, State Street (STT, Fortune 500) and American Express (AXP, Fortune 500).”
I promise you, I am not a rocket scientist.
mrkcbill is “enchanted” by Obama and understands why some women swoon in his presence.
In other markets, while we have been waiting for Gold to confirm an uptrend it’s companion Silver has already confirmed a new uptrend from its recent mid-April low.”
There are some who ride with Jackson already.
________
http://seekingalpha.com/article/134820-the-worst-case-scenario-someone-has-to-say-it
Was out all day at a meeting/class. What about that LDK. Thanks woodshedder!!!! Even LVLT moved. (a little)NXG, thanks IBC. Long live the PPT!!!
Gumball 3000:
Who’s FLYing in that Bugati? And where’s DD, no Viper in sight!
http://www.autoblog.com/2009/05/06/video-several-cars-impounded-gumballers-arrested-for-speeding/
PS: Eric Bolling just said Danny is getting killed in SDS … hmm
Fear —
The most interesting thing about that article is the near unanimity of the bearish comments following it.
Would you consider those commenters to be retail?
(I am flashing back to the year of pain for Timmah and the Slopes).
________
Is it just me or does anyone else’s computer slow down to a crawl on seekingalpha? I got a cable connection and other than an occasional slowdown now and then, I have no problems, but logging on to this site(seekingalpha) always brings everything to a screaching halt.
Some windshield time:
http://www.youtube.com/watch?v=n1kmWKORhb8&feature=channel_page
Anyone catch the tanned one on Ferguson last night?
http://www.youtube.com/watch?v=tQSbs_By6LI
http://www.youtube.com/watch?v=2otlRW6TITY
Moody’s cuts Weyerhaeuser debt to junk
_________________________________
This must mean the economy is golden and housing, according to the government is on a great comeback.
no one needs lumber to build a house, and if the lumber makers are loosing their asses, don’t worry, according to the government, this should not be a problem.
carry on.
You are right it is slow, but it is due to poor design. Once you load their site you will notice that the advertisement video starts. They are using old tech for this process, thus you have this hesitation.
fuck it. I tried to post Moody’s just cut Weyerhaeuser Debt to junk but would not work.
Anybody catch VNDA after hours?
http://finance.yahoo.com/q?d=t&s=VNDA
She fills that gap at 15 soon I’m shortin the fucker … 10 now
dtrader–
So are you saying that the ADP number definitely came in way low? I honestly have no idea. What is your estimate for the jobs number?
Cramer is stealing all Fly’s tech picks:
Mon = TKLC
Tues = BRCD
Wed = CDNS
None of the 19 banks that underwent government stress tests are insolvent and the U.S. financial system is sound.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMpFF23Aud7o&refer=home
The banks are all rising after hours and FAS holders are being rewarded handsomely.
Devildog on the other hand has been sectioned under the mental health act.
Thats all
Timmay
From stockjockey on twitter:
41% of NYSE volume today was in financial ETF’s and four stocks BAC C WFC JPM “Daytraders Keyboards on Fire”
Fly-
Don’t forget to take some fiber along with that Kobe beef.
This one way market is no fun. We need some volatility!
Like a poe foo, I’m 100% cash, and glad I didn’t get short any financial stocks!
I say a down day is coming.
Post of the Year from Landon Swan — a must read:
Landon Metes out the Kentucky Justice.
________
Quote of the day from Jeff Macke: “If I was short financials today, I’d go home and take a bath with eight toasters.”
Hot tub party for DD and followers…bring your own toasters!
too much cash is way better than a short, but I have to admit to feeling 47 1/2-ish by trading off a wild party adventure in return for sleeping at night.
still, if Fly says sanity will likely prevail in a few weeks, that’s soon enough… but it’s gonna take an actual catalyst somewhere; otherwise mother market will just keep tossin’ shorts on the barbie – “mmm… this one’s been marinating for 7 weeks now…”
Jake – I just read the Landon Swan post. Send me your email addy so I will shoot you my address. That way you can mail me $625 for the 15 mins of my life I wasted reading that.
In other news, a lunatic dressed in his birthday suit was arrested outside Dallas after clocking 150mph in a Dodge Viper. Reports say on being arrested, the driver was yelling incoherently. We did catch a few words – ‘stress test’ ‘FAZ’ ‘$34 Billion’ ‘margin call’ ‘bankruptcy’
retest of the lows…comming soon ??”?
not to make fun of this poor fellow ( or anyone else who made a mistake ), but i think i found devil dawg
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=432292&mid=432292&tof=1&frt=2#432292
scary shit out there…
A review of the days wins and losses, and future preparations… In the Glow of Jackson’s Glory.
Chaaaaaaaaaaaaaaaarge!
_______
CAP —
Two things…
One, I cannot believe you take that long to read something that brief. Startling, actually.
Two, I don’t think you’re entire life thus far bills to a total of $625, and I’m valuing your humourous (sic) cock-eating excercise at a generous $450.
___________
LMAO at Cap and Jake.
Well played Sir Jake, well played. LOL!
Did you guys see VNDA after hours? Not much to say except wow. $ 2.50 May calls were offered at 10 cents today.
dd got snipped
..doug kass was shorting CSCO at 20.25 while on the call…i bet that assholes ass must be hurting him now…ouch
Hey Fly.
Recall you took a turn on AXP at 9 odd bucks or whatever? It’s 27 and change… Mind blowing.
So I sold my FAS today for a hefty gain – was I a chicken shit? Did I sell early? I don’t know but the gains were too nice not to book.
Trying to figure out now when to add to SDS. Any suggestions? Oh yeah, FIG
Mr. Jake McGint
Yes 15 minutes. I read that post twice, the 2nd time just to be sure I didn’t miss the punch line. In all, a fairly lame post despite your Perez Hiltonisque ‘Post of the Year’ stamp of approval.
Interesting to note you value self fallatio at $450. I venture there are many websites that cater to this outlandish fetish. Perhaps a subscription would be in order. Just don’t let Mrs Gint find out. We don’t want any trouble in the Gint household now.
And please don’t mention my cock ever again. Its creepy in a, Senator Larry Craig entering the bathroom stall next to you, sort of way.
cap and jakes banter makes my armpits itch with fervent ambiguous melancholy.
CAP sucked his own cock.
The market hates realists. US steel shut down another plant today. 1000 jobs will be lost indefinitely.
Cap- your retort time matches gait with your reading pace.
Next time, don’t try so hard, It’s not going to come across any snappier, no matter the re-crafting.
😉
__
Bought more FAZ today. Thanks. Keep it coming. We’ll be retesting the S&P low in July.
Two of your holdings report tomorrow…..good luck!
SD and
C’mon, Dawg.
Let’s try to maintain a modicum of dignity, here.
_____
Thats right, we all forgot Jake that you run this site.
Now turn off your bedroom light and get to bed before your parents see that youre still up.
After you wake up in the morning and have your juice and cheerios, start typing you little bitch.
hahahaha
retardeddog. give it up. your position, as you present it, reality or fairytale, is a fucking loser. FAZ or any other levered etf is not a swing trade EVER, UNDER ANY CIRCUMSTANCE. daytrade only, and even that imo is done. if you present as such, and you have and are currently, then you have no clue whatsoever what you are doing. <period. douchebag. you sir, suck, and probably are a 11 year old pretending to trade. if not god help you.
hey, i’m trying to perpetuate this ddog fiasco for ya man. drunken grammatical pitfalls and all. maybe it’s time ya retire this charade.
Douchebag Mike.
Only speak when you are spoken to, lest you be treated like the fecal mass you capture.
Now go get ya shinebox, and we’ll speak no more of this.
___
Client #9 speaks on gov’t morality. We are all doomed.