What a splendid day. Aside from “enjoying” stock market losses, I am being treated to a wonderful US-Russo press conference, where two bullshit artists demonstrate the elegance and skill sets of being a master sophist. Without a doubt, both men are capable of stealing the purse out of an old woman’s pocket book, while waiting on the check out line of a seedy Pathmark grocery store.
As you know, oil is getting donkey punched, alongside all commodities. For the moment, the brilliant strategists on Wall Street, led by “Tornado Joe” Terranova, have declared the end to the reflation trade. Therefore, all commodity stocks are sucking dick, until (naturally) the Joe’s of the world step in and declare “the reflation trade is back on.”
Candidly, making money in the stock market is not so much different from driving a car. You need to anticipate the traffic in front of you and know when to step on the gas or slam on the brakes. If you do this shit while drunk, you will hurt a lot of people, most notably your bullshit car (portfolio). Some people choose to drive using their gut, others use a navigation system (The PPT). In summary, if you are serious about getting to your destination or making a fortune, you need to invest time and money.
As for today’s tape:
I like the dip in tech related names and find myself extremely tempted to buy some Ciena Corporation [[CIEN]] , Brocade Communications Systems, Inc. [[BRCD]] and [[RAX]] . I like Starent Networks Corp. [[STAR]] too, but would prefer to buy it a little lower. At the moment, my cash position is pretty sizable, but my appetite to buy more stocks is curbed by the hideous taste of losses.
In short, my next set of moves must be flawless; therefore, I will exercise patience while the market bleeds out.
NOTE: Based upon previous PPT readings, I am still optimistic that the market will bounce from these levels, at least for a week.
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FIG
spellcheck – brakes
liar
r u loading more GLW, Fly?
i feel sorry for anyone who has followed FLY over the cliff these past several weeks. Clearly the character of the market had changed, the good news already “priced in”, and this non-sense “reflation trade” got way too crowded (oh no! hyper-inflation LMAO). The warning signs were all there. I shudder to think how much FLY has given back lately…
nascrack.com is back. prepare to get your fucking faces melted.
Ratsack,
who gives a shit and that’s twice you told us. The third time ought to result in ban by any estimation.
no more than 10% Dave aka fucktard.
Unlike you, I don’t put all of my eggs in one basket.
BTW: I am assuming DAVE puts all of his eggs all in one basket, just as he assumes I am getting killed. I am not.
This is all part of investing, good with the bad.
not buying GLW here.
Fly, you may be correct in your “bounce for a week” statement from the PPT readings last week. But I still say we head lower over the next 4-8 weeks overall.