Just shut up. I expect to see zero comments left on my blog today. I declare, there should be a moment of silence on iBankCoin today, in remembrance of the bears. If you have something to say, please, say nothing at all.
As you know, I was out all day, but was checking in every 15 seconds or so. Much to the ideologues chagrin, the market melted their faces off—like a snow cone on the sun. I took egregious profits in PL (44% win): thank you Uncle Gint. And, I initiated new positions in GLW, ERX and IR. I know a guy who knows a guy who says “IR is fucking smoking.” Synergies with Trane are going well and the company is on track to blow away numbers.
We shall see.
For the most part, small crappers took the day off, as all of the money homed in on the heads of bank/cre shorts. I enjoyed monstrous gains in TWi, CUZ, SD, OVTI and PL, while enjoying light wins in RFMD, DELL, BEE, GMO, ATHR, and ERX (new position).
In short, there are signs of recovery within the housing market. If this continues, you will see real estate investors step in hard, afraid to miss out on a potential bottom. In my opinion, you’re better off pouring gasoline over your head, just prior to lighting a cigar, instead of shorting this market—during rampant hopes of a housing recovery.
For the love of dirty mugs and unkempt office space, if housing starts to reflate, we’re going to 10,000 in short order.
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Dow 10,000!
Seriously, people are going short right now? those people are still around? they still make you?
you should not have left a comment. You mustache is in grave danger now.
This is the highest the market will get. We will head down the rest of the week
Manic Mondays
Turnaround Tuesdays
Wishy Washy Wednesdays
Turd-like Thursdays
Fuck you, You’re Dead Fridays
I like IR but bot USG ….????
Added GNA too …
Fly, what about SFE? I don’t see you mention SFE in your list? Did you sell it?
TBT has served me well! Makes a bear like me happy during melt up days.
low volume…but look at that 20,000,000 share spy buy/sell on the emini last min tick good luck comrades
CAP I am sorry to say the fucking bears got homo steamy turd rolled on today and can’t say shit. DEVILDOG got decimated along with his butt pirate friend Joshy. These two flesh rod skiiers got smoked in their bank shorts and the death that is FAZ. They should hide their faces from this blog forever at this point. Their paper traders were encrusted with ashes as they were lit aflame. Bottom line its over for the bears, we are on our way to record highs again, this market is just way too strong for the bears to even attempt to mount a charge. Get long or get donged its up to you.
By the way positive gamma is looking good here with the VIX put to sleep in its coffin.
^just the type of euphoria one likes to see when tentatively adding shorts
Danny, you get caught in the funnel of another rogue wave? Why do you defy Fly?
AHD…looking spiffy…CNBC skanks on the other hand looking like old sea hags doing crack while eating anchovies..fucking pathetic ugly bitches.
a moment of silence in remembrance of the bears, priceless
“If you have something to say, please, say nothing at all.”
Since I have nothing to say, I will say something:
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec elementum, nibh a eleifend tempor, ante neque vehicula neque, vitae vestibulum lorem velit id ante. Integer sit amet orci ac massa adipiscing lacinia. Curabitur sed odio in ligula ultrices faucibus. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus venenatis enim vitae urna venenatis varius. Nulla sit amet dui sit amet nisi luctus convallis sit amet ut orci. Phasellus et nisi nibh. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus neque orci, pharetra at rutrum nec, sodales ac justo. Nulla euismod viverra orci, sit amet placerat libero aliquet a.
–
sounds like IR said some good things today at the EPG conference..
First let me say..ZERO.then add I was pole axed by todays strength.Added to AA, DCP, bought MGM at pullback am. and TCK (3rd time in a month, been too easy to hold it..was still convinced of the abyss each day)Glad you all did great..FLY many excellent calls, love TWI..an intelligent addition to any ones watch list
Anon
Go back to Africa, you beaner.
The search engine, http://www.wolframalpha.com is available for what its worth. I put in “indeud” and and there is no such word. Indeud, indeed.
E8, I implore you, work on your reading comprehension skills, or at least make an attempt at non-douchebaggery (seriously, it’s amazing). Today is the first day I shorted anything, and at the highs no less.
Congrats, too bad about the title to the BMW …
Jed, eats lunch meat out of a can.
Good luck with yer shortz ….
“Friday’s low of 879 held just above the mid-April high of SPX 876. This is what we expected and fits with the count we shifted from the DOW chart to the SPX chart this weekend. This count suggests that Major waves A and B completed in late March, and the market has been in Major wave C. What this implies is that an implusive Major wave C has been underway: wave 1 SPX 876, wave 2 SPX 827, wave 3 SPX 930 and wave 4 SPX 879. Wave 5 should now be underway. Also noted this weekend, there are three fibonacci clusters above currents levels: SPX 937-946, SPX 975-982 and SPX 1034-1049. One of these price ranges will probably end this uptrend in the weeks ahead. We’ll try to track this rally closely to determine where it will end.”
Danny Says:
“Today is the first day I shorted anything, and at the highs no less.”
—
oh, REALLY? You be shortin’ all the way up SON.
this is the second time I’ve had the displeasure of telling you I bought my BMW in cash so I don’t know what you mean with that title business, except that you are trying to goad me, because you appear to be either:
a. 11 and a half years old
b. a failed and possibly illiterate adult.
In either case, please do shut-up.
Not that it matters since price pays but volume was anemic today on the Spyders.
Volume: 236,307,976
Avg Vol (3m): 342,552,000
it’s all a topping process my friend….
Never short a dull market applies
Tax revenues suck it big time.
From zerohedge:
Looking to confirm the trend, we compared the data for April – the big kahuna of tax collection months – to the 2007-2008 average, and found that individual income taxes this year were down more than 40%. The situation is even worse for corporate income taxes, which were down a stunning 67%!
Thin skinned …. sorry, I stopped reading you some time ago when you insisted on staying short.
more pointless comments courtesy of E8. I am now officially done, forever, responding to your zero-value added, intentionally incendiary remarks.
I took egregious profits in PL (44% win): thank you Uncle Gint.
Well, I didn’t sell to you, but…you’re very welcome, Uncle Fucker.
Good to see you get some balm for that For The Kill rug burn. Shit was up a Jefferson piece today!
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Goodbye Stranger – http://www.youtube.com/watch?v=dyyDyraBnOU
You should just give up your tab to some EW blogger. Let me suggest Tony @ OEW.
FAZoline on sale, under $5/qt.
New low in July.
You are right fly..
While others were bearish you help fast to being a bull.
Housing is improving and by June you will hear it from the lips of Bob Toll at Toll Brothers…I live in indiana and this is our 3rd consecutive month we have gone up percentage wise.
Fly has it right..This is not a time to short. Banks are busy making money now, not just on refi’s,but also on purchases..
buying more FAZ and shorting more with every paycheck i get. posted real time my short @907.5 /es
Housing recovery? I call bullshit on that one. A 3% rebound in Orange County does not constitute a national recovery of any kind. It’s just a dead cat bounce.
Read all about it —
http://www.businessinsider.com/henry-blodget-housing-bubble-almost-over-but-no-recovery-in-sight-2009-5
This stock market bounce is being floated through pure speculation and probably a good bit of very intentional manipulation. Get all the stupid fuckers back in the market before pulling their legs out from under them again. Then repeat again and again. Sound familiar?
josh,
why not short a casino or two while your at it. i’d like a piece of your paycheck too.
Lets keep this blog up to date with regional housing, this is key to the recovery.
I’ll start;
No new housing in my area (triad, NC) I have not seen very many new foundations going in in the past 12 months. I keep up with this as I do architectural design and look for new construction everywhere I drive around my area.
Nothing going on here at all. Lots of home lots for sale, some have been up for sale for 13 months now, still no buyers.
A dead-end street that had 9 small houses on it (each house like 1100 sq. ft.) up the road about 7 miles from me was for sale for about 1 year. The asking price was 450,000.00 for the street and all 9 houses, 3.82 acres in total. it never sold, went into foreclosure, the bank sold it mid april for 339,000.00
These are the things I am seeing, no real sales here, just banks dumping shit and people trying to sale with signs in the yard for months on end. I personally see no change or uplift in housing, and I am the architect and designer of a 600 acre development going in around a lake called Lake Tillery in NC and I just finished designing the new Marina and a restaurant that is on hold right now, so all the hupla I hear on TV to me is a mystery unless there is alot of happy buyers and seller elsewhere around the USA.
I know alot of developers who have millions of dollars in started projects in NC that are on hold also.
If the guys and gals here would volunteer some reporting on your own local areas of your development situation it would really help all here get a real sense of what is going on. I personally, being directly involved in architectural design and building projects am not seeing any positive shit going on in NC. There are of course always corporate business developing going on, a new McDonalds here and new Biscuitville there and a new Bojangles being built and a new this or that around town, but housing is pretty much at a stand still.
Short ’em at the open.
They goin’ lower, dig ?
Only 40 comments could be considered a moment of silence amongst market addicts
For housing — everything sold in my Neighbourhood in the past 2 months (prices are 800+). I am in Pacific NorthWest.
Starting to see some glimmers of good news in my neighborhood (SF Bay Area) after a very dismal year. Finally some sales closing, albeit at much reduced prices. But it beats the total lack of bids and failed financings we’d been seeing.
These are homes in the $1m-1.5m range.
Fewer new housing starts is good news, not bad. There are too many homes now. Home prices must come down to affordable levels – the long term average of 2.5 times income or whatever. On the other hand, falling prices are bad for the banks and their mortgages. However, the banks are being given money at close to zero interest so that they can earn their way out of the hole.
The top secret hideway is under my residence – everybody got that? Mrkcbill still has Obama stickers on his car – a real demorat supporter. Hillary would have done a better job than me. Obama and I are really going to screw this country up – you will not recognize it when we are through.
FLY….YOU ARE GOOOOOOOOOOOOOOODD ,thanks for the free lessons
Building and selling houses like crazy eddie up in heya. Bazillions of 3000 sq. ft houses sell every day. Everyone is rich here in the fartland.
bears go home.
Housing business non-existent in Toledo.
Median home price has fallen from $120,000 to $65,000 in 2 years.
THeArtist, I own a wallcovering buisness. I have been doing casinos the last five years and hotels . Just finished my last two projects,one in Steamboat Springs the other in Texas somewhere. My designers work for Starwood and Harrahs. They dont have any jobs on the books. Now you know if you are in the industry that jobs are spect and then it can take years. They have no spects. Las Vegas is better than it was in Dec…as far as work but a lot has been canceled. People I know are delivering product wondering if the project will be completed and they will get paid . Hope that shines a light on the SWest, and West coast
Attention all danderers and clashamaclabbers:
It’s Jackson, for the win!
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Artist: it never sold, went into foreclosure, the bank sold it mid april for 339,000.00.
I hope you were the buyer on that one. Sounds like a steal for Raleigh/Cary.
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WB: These are homes (SF Bay area) in the $1m-1.5m range.
So, starter homes, then? 😉
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Master P — you in Vegas?
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Generational– Toledo is a shithole, but thanks for the submission. It explains a lot about your anger/bitterness here.
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JakeGint: So, starter homes, then?
LOL. Not any more!
Jake in PHX but sell paper everywhere through a distributer.Even did Macao for awhile. Did the Steamboat out in AC few years back
WB — Little bro bot a house in Windsor (north of Santa Rosa in Sonoma County) around 2003… paid some $312k for it and I remember visiting and thinking… this is a nice place but it’s tiny and its on like a zero lot (maybe a strip of grass in the back). Well, he got transferred to San Diego about 2.5 years later and sold it for $550k. This is NORTH of Santa Rosa!
I knew Cali was in trouble then. Of course, he got stuck with a last musical chair in Carlsbad, which is a nice place to be stuck for the duration, I guess.
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MPain — I am bowled over at least once a week hearing about yet another market specialty that I had heretofore never even contemplated.
God I love capitalism! Good luck to you, maybe you’ll be down at our Horshoe Boat in Harrison County, IN some day and we’ll have a pot liquor. Or if we’re lucky, maybe you’ll get to do the “hoped for” Churchill Downs slot room.
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Jake, awfull buisness…until you get a job then $$$$
ck this for your amusement jackdenst.com