I’m getting mushroom clouded in FTK this morning, while my SD position eats shorts like Pac-man drunk on vitamins. Thus far, this morning is bitter-sweet for me.
The good news: I have lots of cash reserves (35%) to buy dips and shall do so when the market opens.
Look, the market is going to run higher again today. There is no point in sticking to your bearish thesis, in the short term, while the market is simply handing out free money.
Bottom line: With the ECB cutting rates again, I want to play the inflation game, via getting long oil/metals.
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Too much good news. Market ends red today.
Sergei,
Do you mean red/down, or red/nationalized? I presume you mean the latter… because the government is leaning hard on the buy side, I agree, you must buy stocks.
Your experience as a Soviet is useful on these forums.
will you buy more ftk?
yes
I’m glad that I am not short some market indexes by nearly $5 mill.
Are we still able to sell or short stocks?
no
Live to win!
Fly can you please turn the clock back to March 8 so I can jump back in 100% long with 1000% margin and take a nap?
thanks
sure. no problem.
ftk filing highlights:
They have enough liquidity to make it through the year.
Expect 2nd qtr to again be weak with a gradual pickup in the 3rd and 4th qtr’s as rig counts begin to increase.
Lift segment saw a 41% rise in business, chemical down 27%, drilling products down 4.6%
After submitting plan to the NYSE they can continue to be listed for 18 months if the plan is excepted pending qtrly. reviews of the business.
They generated 2.8 mil in cash from operating activities, had 3.5 mil in depr and amort. along with .5 mil in options expenses.
Just thinking out loud… The Fed actions will create a bubble mania of some sort over the next 5-10 years. Is the next tech like bubble going to be Bio. Imagine if a shit box firm was able to go to trial for a drug helping pople reverse or maintain emphysema.
That could be the biggest serious drug market in the world. China alone over the next decade could buy most of that drug as they all freaking smoke over there.
The job now, if you accept it is find the next tech bubble.
In the Powershares commercial, “The Ideas In Tony’s Mind”…mrkcbill is the one driving around the room on a tricycle.
Today is the beginning of the end.. Blow out the garbagio and start shorting.
Anyone know of a bio ETF/
funny how VNDA, up 900% in pre hours, with no problem (money money money) BUT had it dropped that fast trading would have been halted (loss loss loss)
market regulators have no problem with a stock blowing upwards but they do when it blows downwards.
carry on
BTW, Fly, are you looking into the metals area, like say UYM for a trade?
Jed, that’s some seriously funny shit!
I continue to hold a massive overweight position in DXO and UNG as I have been posting for the past few weeks. I am up 20% on UNG since last Thursday but my cost basis is right at 12.75 so I really will not sell any of it. That said for my trading book I will trim a tiny amount at 15.70 should we get there. Still 100% bullish but its been a big run on the trading side. Lets see what the numbers say today. My sources (which are very very good) are telling me the holes are turned off right now and they will not resume until prices are pulled up (speaking of NG). I would like to see NG return to the 4.50 level to 5.00 before summer.
Jed’s, hardback copy of 10-10-10 is with him at all times.
j-
IBB if you are looking for BioTech
Out of $TXCO at .81, from .67
Done for the AM.
Thanks SMH short.
GMO looking pretty good. So if FTO . Been adding to both.
thanks MOE
lmao @ Jed
SRS up. Must be a glitch. Anyone else see that.
Bears are getting hammered, but they’re off their morning lows. Seems like not much more movement from these 3x ETFs..WTF?
Fly arse for FTK, but I got in some TMR. I’m with the Fly, when in doubt hop on for a free ride. Who am I to turn down free money!
Your experience as a Soviet is useful on these forums.
LMAO!
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looks like FAZ is headed to $1.00
May 7, 2009 9:01 AM EDT
Flotek (NYSE: FTK) reports Q1 EPS of ($0.10), 5 cents below the analyst estimate of ($0.05). Revenue for the quarter was $40.7 million, versus the consensus of $45.55 million.
WHO CARES? STILL BELIEVE ITS A BUY LOW THIS AM
might be picking up some more FTK and CNO here.
T MOE buys MEDX for a biotech play
Nice pipeline and three drugs in phase 3 trials
Medarex is in more than 50 partnerships with pharmaceutical and biotech companies to jointly develop and commercialize products, including Pfizer, Amgen, Bristol-Myers Squibb, J&J, Eli Lilly, Abbott Laboratories, Human Genome Sciences, and Novartis
I decided it would be almost hypocritical of me to urge silver on my blogreaders w/out taking at least a small position in AGQ.
Or that could just be me rationalizing my inner Yukon Cornelius.
You make the call.
That said, I’m picking up some AGQ here @ $42.87.
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the party is over, for now.
no afternoon rally today, imo.
the q’s leading the way down.
i think this market does not like the 10 yr at 3.25% for many reasons.
Lots of unemployment tomorrow – mkt. loves unemployment. j, try using search for etf’s – there are several biotech ones.
Bought back some DNDN @ $20 for a scalp trade. Should bounce back a bit here.
Sold DNDN at $20.24. I’m going to try and not think of this as “just 1%”, but rather “another 1%”.
Market seems all wobbly today. Time to lock in the gains and batten down the hatches.