Keep buy SRS, you FAZtard. While you are busy, diligently erasing your childrens inheritance, “The Fly” will be adding digits to his mystical, yet substantive, brokerage accounts.
As predicted, commodities are off to the fucking races, rogue gorilla in a Zoo style. My bountiful ERX position (2nd largest holding) has been punching mustaches off all day long. My sense, that fucker spills into the 40’s soon, taking bear guts with it.
We are in a very simple market. The banks have been quarantined and the Government is interfering with the business cycle. There is so much ambiguity out there, investors are opting to go long, since it is too early to know if the recent rebound is legitimate or not. Plus, with oil racing higher, there is a distinct presence of reflation creeping back into investor psyche. This explains the rich prices in copper, gold, silver and food commodities.
In short, financial engineers need to allocate funds somewhere. For the moment, the economy is taking a backseat to liquidity pools, with regards to how they are allocated. There is proof that economic activity is rebounding, but from very low levels.
I will remain bullish until the Dow hits 10,000 or if new evidence suggests world wide end user demand is back in the shitter. Until then, I will continue to buy the dips, much to your chagrin.
Top Pick: GLW
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Russell 2000 (IWM) and regional banks (KRE) say this isn’t a healthy pop up and the homies still are sucking wind.
Plus the volume dried up going up.
I did some figuring on the back of an envelope (really one of my spreadsheets) and I figure if the DOW holds above 7750 for the next six months than 10,400 seems a reasonable target by this time next year.
Otherwise – 5098 could be staring us in the face.
*note this is a similar process that I used for my 6500 DOW prediction last October only then I had some fundamentals to justify. This time around the fundamentals are on Mars and I don’t trust a single figure coming out of the US lately, bearish or bullish.
Excuse my ignorance…but if the GLW news last night (higher panel volume) was really that good, why is it selling off in such a strong day?
The Jeffersons – Movin’ On Up (with Leaf Trombone)
http://www.youtube.com/watch?v=AV0fmNo7474
I have been bumping into people that have my name and look like me all day today
JBandy, thee gods are offering you an opportunity.
Mortgage deliquencies are the highest ever, credit card defaults are soaring, house prices still marching lower, gasoline pirces have risen $0.80 since January 1, mortgage rates have climbed 50bps in TWO DAYS, California, New York, New Jersey, Illinois, GM are effectively bankrupt, earnings are at risk from rising raw costs and under absorption of fixed costs due to record low capacity utilization rates, treasurys crashing.
It’s all good. So what exactly is the bear case, anyway?
Fly,
I know ERX is a large position, but fundamentally you dont agree that oil should be at these levels right?
What I am trying to ask is, what is your exit strategy in the position?
Obama’s fixin’ on all that shit bitches. Don’t ask questions and stop trying to think. You damn stoopid. Just buy shit.
“There is so much ambiguity out there, investors are opting to go long, since it is too early to know if the recent rebound is legitimate or not.”
If so, looking a month or two out, isn’t the risk to the downside then?
Nice zoo reference!
that’s all
Deranged:
That’s the bull case.