I quote the great Mark Haines, resident fat guy from CNBC, because he is a man with worldly advice. He knows, as well as Dennis Kneele and James Cramer, that we are, indeed, in a new bull market. Betting against such men is equal to playing with pinless hand grenades, inside of a dynamite stick factory.
You don’t like the market? Good, short it with all of your might. What do I care? Stick your short ideas in your ears and go for a swim to Canada. If you are cursed with actually living in Canada, just remain where you are—that is punishment enough.
I fucking ruined my lawn, yet again (I ruined my lawn two years ago). I was at Lowes the other day and bought some of that “Turf Builder” crap, thinking I’d “outgreen” my neighbors and make them green with envy. Yet, much to my chagrin, I am now blessed with crop circles, all over my stupid lawn. People pass and laugh, exclaiming: “look hon, it looks like a UFO landed here.” Then I come out, with my bearded face and shot gun, ordering them off my property. Sometimes I let off a warning shot, just for dramatic effect.
The market dumped out today, led by banks and CRE. To be honest, it really is no concern to me, just yet, especially since I have a rich cash position (35%) and “better-than-you” (50%+) year to date gains.
If my crystal ball is accurate, we will trade higher tomorrow, led by oil/gas.
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Check out the stealth moves in silver today. Early buying in size, then major buying into the close.
PAAS, SSRI and especially SLW… all telling the same tale.
_______
Tomorrow further downside my space shuttle(star trek kind)says your penny stock picking will end at at .01 in the near future
How is Obama going to screw HUM, WCG etc… ?
My premium more than doubled over 5 years. I’ve been to the doctor once in that time and didn’t even file a claim.
i LURVE mark haines. he’s like a classy-motherfucking grandpa that tells you crazy sexy war stories or some shit.
srsly tho, he seems to always ask tough questions in a super nice way (by playing stupid)
“Bull Market” my ass. Only a fucking idiot would think these gains were sustainable.
It always seems to kill assholes when they become too gawd-damn confident … this goes for bulls & bears. Fucking Larry Kudlow demanding that the recession is over. Don’t kid yourself kiddos, the worst of this train wreck is yet to come.
Understand this market is overbought, and subject to dry fuck dip buyers … it’s going to get ugly again. Confidence, momentum and illusionist accounting will only carry the water so fucking long.
Nazca ruins over at da Flea’s casa.
yeah, JakeG .. strong close .. NG broke 3
GSS, ANV looking good
not to mention PAAS SLW , etc
PAAS earnings in AH tomorrow I believe.
The only way I can afford health insurance at my age is with a $10,000 deduc. PER illness for a two year period.
Though no lifetime cap and it can’t be cancelled..
actually living in Canada, just remain where you are
I intend on doing exactly that.
I had a wonderful PnL day here. Upside leaders were FAZ and short HME and SONC while tiny losses were offset in UNG, DXO and QID. I was able to leg back into DRYS at 6.75 and will continue to add every 75 cents down. Not sure of this is a trend changer but we will see. My most bullish thought in NatGas, UNG should still have room.
By the way Whitney’s comments are very very worrisome. She has nailed every move with the banks. If the retail player gets smoked again they will be out of the market for a long long time.
AFter seeing today’s gay bear action, I agree with El Fly that the mkt will churn higher.
We have seen this pattern before – sell-off on monday, and we start off tuesday negative, and then *poof* merlin shows his wand and we have a market melt-up. This plus bargain hunting.
90:10 bull vs short tomorrow.
Fly- I hope you don’t mind but Steve,Jr. has been selling tickets to tourists for a tour of your lawn.
He wants to put a water slide into your crop circles.
Is that okay?
By the way he charges extra if they catch a glimpse of you coming after them with a shotgun.
He tells them that you are an alien.
Oil will suck for the foreseeable. This latest bullshit run will die, as will equities, hideously.
@DONNY- If you held on to your FAS (or did you ?) you’d have made a fortune ( if you had sold on friday). Truly unfuckingobamalievable. $2.50 to $12.60.
@JAKE – Indueed. Silver is some Godly stuff. Whats your short term price target on SLV ?
Redundant Boast:
For those who took my advice and bought NG when POG crossed the $900/oz line: you’re very welcome for yet another 25% gain. Pocket your meagre takings, and go buy yourself a nice lollipop. Alternatively: grow a pair and, well, you know…
I noticed Compton Petroleum made the PPT, nice one Fly and co. I had reserved that buy last Tuesday for myself, and my closer friends. If you are still holding, huge, bolshy congratz. We ‘only’ got 42% out of that one: my trigger finger got itchy. (Although I am sure some of you will attribute that sell to a more yeasty malady.)
To those who are still holding my SU buy from not too long back, but long enough: you greedy, avaricious fuckers, how much money do you need, anyway? ie WELL DONE.
THIS JUST IN:
CAP INJURED HIMSELF TODAY, WHILE SUCKING HIS OWN COCK.
Developing…
dave Says:
How is Obama going to screw HUM, WCG etc… ?
My premium more than doubled over 5 years. I’ve been to the doctor once in that time and didn’t even file a claim.
************************************************
That’s why we need an OPTIONAL “Medicare for anyone who wants it” Federal option.
Idealogues like Jake can KEEP their private insurance. MY family will take the GOOD stuff.
Is this a miss print??
John Carney|May. 11, 2009, 9:14 AM
Current P/E Ratios. if you want to be scared straight out of the stock market, take a look at the current as-reported earnings. As May began, the S&P 500 was at a P/E of 131. That’s a record high, soaring above the long-term average a little less than 20. By this measure, stocks are ridiculously overpriced right now.
http://www.businessinsider.com/stocks-no-longer-look-cheap-2009-5
I have never felt so ouch of touch with “mother market” as I do now.
I truly fear that I am about to do something really stupid. I hate it when this happens.
CAP is one sick bastard.
Generational Market Bottom: yep, this is what the democrats are really fighting for, it’s a backdoor towards national healthcare. the insurance companies may like it as well initially, here’s why: a national program would mean everyone is eligible, which would mean those who were not accepted into private programs would be forced into the government one. that would mean those with chronic illnesses would be on the government program and all the younger healthy people would be on the private programs.
the thing is, the health insurance industry is so fucked up, it’s probably going to be cheaper for the government anyway, since preventative medicine would mean less hospital visits and expensive drugs, so who the fuck cares.
P/E is backwards looking, no one gives a shit what the market’s performance was 3 months ago, as the market will be completely different 6 months from now.
CS~
I sold out of FAS a long time ago. I will never hold one of those accelerated ETFs more than a day anymore. They’re fucking thieves.
I did make a small fortune with BAC … I sold it for about a 220% gain. Nice.
At this time I am exclusively in cash.
Fly,
I just think you are the greatest.
fly thanks for abk, banked coin today.
Look’s like the O’man is going to revive the Sherman Antitrust Act. Might get some small cap growth out of that.
My COF observations and trading journal today + my P&L – http://tr.im/kYoV
Hint: I tasted victory, even when it looked like I would be losing.
Fly, do you really make money trading? Why not hire a lawn service?
BTW, between your plumbing, painting and now your lawn exploits, I would have to value your net worth at $ 100,000 at most. Maybe this explains your penny stock picking and obsession to make it big, lol.
Ok, I usually don’t do the piggyback shit but I bought some SFE at $1.05 today. I think I threw up a little bit in my mouth when the trade executed.
Any estimates on the upside potential?
If you liked the ABK, look at MBI. Still not too late to get in for tomorrow’s mega-spike!
firstadopter Says:
Hint: I tasted victory, even when it looked like I would be losing.
——————
that thing you tasted was fly’s c*ck
“look hon, it looks like a UFO landed here.”
The irony of being a Space Alien Magician is not lost on me.
Personally, I respect a man who makes money and still does his own shit.
“Turf Builder” crap, thinking I’d “outgreen” my neighbors and make them green with envy”
Man thats funny to me. Fly just raise the white flag….$300 bucks for the juice and $30 per for the cut. You know that shit is toxic….all your bullshit WFMarket organic eating down the drain.
I’m on my 3rd application and I know my neighbors are just wondering Damn How does he get it so GREEN!
Great rally today Fly. Your call for tomorrow will fare the same.
BK “passed” the stress test but now they’re selling $1 billion of stock. At a 35% discount to its 52 week high?
Ford wants to sell $2 billion, at a 25% discount to its 52 week high. Wouldn’t they wait for higher prices to reduce dilution if they believed the rally?
This widespread dilution is going pull down S&P earnings estimates.
Insiders have also been selling tons of stock in this rally.
The short term mustard seed and green shoot top is in.
QUIT slapping Fly…bitches
Can’t you see the Man was clearly searching for green shewts in his crop circled lawn?
Sounds like maybe you should re-read label on bag from Lowes….sounds like you spread “Turd Builder”
jk
luvya man
trugreen, don’t forget that pos car that’s not even under warranty. LMAO!!
To those who gave me the ‘big red thumbs’ on my ‘redundant boast’: Suckit. Don’t blame me because you were too thick to listen to someone wiser than you. You’re lucky I throw dogs like you a bone every once in awhile, it’s not my fault your noses are so crammed full of cheap coke you can’t tell prime rib from kibbles anymore. Whiny bitches. Pay attention next time; it doesn’t hurt to take advice from your master, but don’t heel:No fucking treats for you!
Oh, and to the bold player with the ‘greenthumb’: Thanks and,
“Wink wink, nudge nudge… say no more!”
This new post may even be of some interest to you short term, mo-mo mothahflickas:
What is Going on with my Precious??
Some interesting action in almost all the gold and silver names today… and I don’t think the coordinated move was coincidental.
_______________
Fly — like the graph expansion, you’ll note that the PPT quote (ie, the [[stock]] thing) doesn’t seem to work for my blog. Maybe I can go back to the “not so newfangled” WordPress software or something? I can make up for the graph “unpoppability” with bigger lettering, but I can’t automate the PPT recs…
Your call.
__________
Understand this market is overbought, and subject to dry fuck dip buyers … it’s going to get ugly again. Confidence, momentum and illusionist accounting will only carry the water so fucking long
Holy shit, 15 to 0 on the karma scale? Not that I disagree in the long(er) term but…
What does THAT tell you?
_______
yeah, JakeG .. strong close .. NG broke 3
GSS, ANV looking good
not to mention PAAS SLW , etc
Bruce, definitely read that new post I just put up.
____
@JAKE – Indueed. Silver is some Godly stuff. Whats your short term price target on SLV ?
First stop $16, then 20.75, then $32.
We could easily go to $100 before all is said and done, however.
_____
Generational Bottom Squeezer says:
Idealogues* like Jake can KEEP their private insurance. MY family will take the GOOD stuff.
Why not move to a country that already has socialized medicine?
Then you can see how much you’ll enjoy Obama Care.
PS — I sincerely hope you are a lot younger, a lot healthier and a lot more patient, than I think you are.
Best,
Jake.
_______
* (This from the old Bolshy who’s been screeching for a 110% tax on earnings over $250k, lol.)
______
‘What does THAT tell you?’
another bear trap twould seem. hm
^^^^^
Gold star for Walter.
_______
Bloomberg: “Bernanke Encouraged by Banks’ Plans, Calls for More Self-Tests”
Gosh, I’m not sure which way to spin this one… Bernanke’s figured out that markets will go up indefinitely if we keep tossin’ soft balls? Or, more accurately, he can really tune this economy up if we keep diluting banks to zilch…
Traders should recall that the Fed, win or lose, is playing in a different ballgame than they are; keep in mind the sage investment perspective from Apocalypse Now:
Charlie don’t surf!
The world does not covet my lawn.
The world covets my woman.
There lies my vanity.
You have to apply that fertilizer evenly. You probably kept stopping and didn’t release the lever on your spreader, letting maniacal amounts of that shit to drop in one place. My lawn looks like Augusta. I am the shit because of this.
We’re running out of reasons for this market to keep lofty, this week will be “correction tyme” as ye olde gamma moves and shakes this expiration week in one direction, building on itself like a corn kernal rolling down a black diamond slope made of diarhea.
Sold out of AVAV (bot@ 20.35) after a several week hold @$24.70..figured it was going to be a bit longer wait than I assumed..next day it blew the fucking roof off soared to near 30..I have remarkable timing..BAD..on the subject of lawns I got sick of mowing my lawn with an old Cub Cadet and spent more on a commercial mower 61″ Scag (mower not wife)than my fucking car is worth.but I cut 4.5 acres in 1.5 hrs..pity I can’t use it to go to the store
ANON,
YOUR RIGHT ABI IT’S SPICKEN UPWARDS TO 9.00 FROM 6 ISH TODAY IN AFTER HOURS.
Broker A isn’t fooling anyone with this phony crop failure nonsense. Leaving unmarked graves of his enemies in his front yard is a bitching way to send a message that one is not to be fucked with.
On the other hand his lawn might be sending subliminal messages that his bullish tendencies are way off target.
For instance, I bought 1350 FAZ today and my lawn is green and strong like bull.
I have lived in Canada for 30 years and all in it’s been pretty good.
Never mind men in pink leotards. I see men in orange jump suits, one believes he was directed by the almighty, another confused an aged friend for a pheasant & shot him in the face. Otherwise, they ruined a great country “keeping us safe”. Some think we’re safer without them.
I thought about returning to the land of my birth, but find I can’t get health insurance (over 47.5). Here I just paid a doc $1800 as an “administration fee” so he’d take me as a patient; otherwise family docs are not taking new patients. I’m glad I can afford it.
As long as the game is rigged here, there & everywhere, it’s nice to be in a position to have juice with folks (sic) in power.
“I thought about returning to the land of my birth, but find I can’t get health insurance (over 47.5). Here I just paid a doc $1800 as an “administration fee” so he’d take me as a patient; otherwise family docs are not taking new patients. I’m glad I can afford it. ”
Copeman Clinic?
Thanks mike, you’ve helped the private insurance comapanies, and for/profit health ‘care’ leeches, get their foot in the door. NAFTA’s chapter 11 will take care of the rest. I hope you don’t have any kids/grandkids, or if you do, I hope for their sake they either never get sick, or manage to get nauseatingly wealthy.
“As long as the game is rigged here, there & everywhere, it’s nice to be in a position to have juice with folks (sic) in power.” Nice. ‘I’m all right so fuck all the rest’, you’re quite a hero.
at some point this absurd buy the dip will end. that time has come now. Fly if we retest new lows you should give me and Dog a blog spot to share. IT traders something this site does not really have(perhaps they do not want either)
At least it wasn’t a pack of homophobes using weed killer to spell out the word GAY in the lawn. Better get a lawn cam just in case.
I logged in on my iphone today to check my mad money portfolio and noticed a 50% gain in AMFI which I picked up around a buck/share awhile back.
That was cool.
Blacktop over that shit and turn it into a parking lot!
Americans are too stupid and too lazy to fix their own problems, let alone the global mess
Give them some donuts and a gun and they’ll be happy
Sincerely,
Canada
@ Goin’
My son is a surgeon in the US. He worked 100+ hours as a resident for about $35K/yr. Now, when he bills an ins. co he gets paid about 0.15 -0.20 on a dollar.
Just how will my waiting 3-5 hours in a walk in clinic, or longer in emergency change anything?
For the record, I have a great deal of empathy for the working man. And unlike insurance companies, etc. never once exploited anyone less fortunate.
Not to be confrontational, but what are you doing to change the system?
lolz,
Last time I checked, Canada is made up of Americans.
Comrade Mike-
Comrade does not seek to change the system. He seeks your compliance with state edict- that all shall wait for their state rationed (and approved) care for the good of the State.
Surely in 30 years up there you encountered an educational facility or two?
____
aka Plutonium Petey, Horatio Clawhammer, and now wearing & toting, respectively “bearded face and shot gun” Jed Clampett [sic] (ok, I don’t know how to spell it)
Let’s see:
-Sound banking system: check
-Peaceful relations with international partners: check
-Most diverse city in the world: check
-Affordable Healthcare system: check
-Abundant natural resources: check
-Functional political system (parlimentary): check
-High rated standard of living: check (third in world)
-Ethos that fosters diversity not assimilation: check
Yep, I prefer to live here.
“Not to be confrontational, but what are you doing to change the system?” For starters: Actively refusing to give $1800 bucks to for-profit health ‘care’ clinics, thereby enabling the destruction of Canada’s Public Health Care system via NAFTA’s chapter 11. Which means you are directly labouring to exploit those in less fortunate circumstances.
“waiting 3-5 hours in a walk in clinic” Where? I have never had to wait more than 15 mins at any public clinic, ever. Once I had to wait for a few hours in emergency for an available surgeion when I had a complicated broken arm, but that wasn’t really an ’emergency’, and the nurses made me feel plenty comfortable. Are you trying to tell me that shit like that NEVER happens with a private system? Suppose you didn’t have your insurance card or ID on you in an emergency? You could well be F’d in the A.
Congrats on your son becoming a doctor, a noble profession, depending on the motivation. Is he in it for the money, the prestige, or does he actually enjoy the occupation? If it’s the latter:
“He worked 100+ hours(/week, I assume) as a resident for about $35K/yr” So what? Was it tough? I’ve done the same, outside, in -35C for not much more, but I enjoyed the work (as I can only assume your son did). Did he really suffer that much? How is he doing now that he’s ‘paid his dues’? Just fine, I’d bet.
And I am sorry but:
“As long as the game is rigged here, there & everywhere, it’s nice to be in a position to have juice with folks (sic) in power.”
is entirely ‘I’m all right so fuck all the rest’, end of.
But you are right about one thing: I obviously haven’t done enough, because clinics like the one you have used exist to undermine one of Canada’s greatest successes.
Compton Petroleum rocking out like Eazy E in the late 80’s. Will end similarly.
noboty move noboty get hurt.
cors damn. xsel damn
Any recommendation for Fidelity IRA funds?
Just got a new job. I am required to chip out 10.5% of my paycheck each month to put into a 401 account while my work will match that 10.5%.
Currently, I have everything in large caps/intl index fund. Is it a good way to go?
Any good resource to research fidelity funds?
Thanks
Newbie,
since it’s tax deferred up to 20% of your income, you can draw interest on those tax free dollars over twenty years and also reduce your tax bill at the end of the year.
Do the 20% thing
Oh, Canada was once a proud place before diversity raised its ugly head. The crime rate has soared and it is now illegal to quote the Bible references to homos. My dog, King, and I will continue to reside in the Yukon.
omfgitsjd
sorry, pretty new to this. How do I do that? do you have a link with more info?
Thanks.