Look at ACADIA Pharmaceuticals Inc. [[ACAD]] . Let that be a reminder to you biotech lovers; they are nothing more or less than small ticking time bombs readying to blow your arms off. Hence, I rarely buy or sell biotech stocks, mainly because I like my arms.
Commercial Re stocks are getting gunned down today—rightfully so. It is very tempting to sell short some Kimco Realty Corporation [[KIM]] and The Macerich Company [[MAC]] here. However, I made a commitment: no selling short while the crazy men are saving the world. With that being said, it’s not a bad idea to have cash on the sidelines. For a little more than 2 weeks, I’ve been sitting with (give or take) a 30% cash position. By the looks of this market, I should have sold more.
At any rate, American International Group, Inc. [[AIG]] is spooking the market today; but who gives a shit? The market needs a little fear, in order to squash the complacency and give the buyers some decent discounts. With my money, I will be buying Sonus Networks, Inc. [[SONS]] , Tesoro Corporation [[TSO]] , Holly Corporation [[HOC]] , Sunstone Hotel Investors, Inc [[SHO]] and General Cable Corporation [[BGC]] on dips.
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FIG
Fly is UNG one of the broken ETF’s?…..or does it fairly track the price of NG?
It’s well documented to be the most broken of the ETFs especially lately. Tremendous contango on the contracts plus what was a fairly recent closed nature due to the lack of newly issued shares.
So would it be best to bail?……even though I think NG will double within a couple of years….what would be best way to participate?
Thanks TA
There really isn’t a good one other than the futures or stocks like CHK which have done quite well relative.
I like the story but I want to see it produce a higher low first.
Also the government is getting involved in regulating ETFs like UNG, never good but no one has any idea what that means yet. I bailed when it failed the triangle at $13 and broke support.
UNG could go to $8 – I believe the all time low on Nat Gas was just under $2
http://seekingalpha.com/article/159042-natural-gas-etf-the-short-term-story Hope this helps.
Hi Fly,
Do you still think TSTR is good?
I’ve been at my drafting table, DOW was up 32 when I left, now it’s negative 150….WTF just happened?
fill me in someone?
must be GS trying to pay some bills for August
Market’s having an identity crisis. It’s trying to see how many times marketwatch can change its headlines for the same ISM data. Up, down, Down, etc.
Artist;
AIG is getting a hot rod pocked up its arse.. Fly mentions CRE and Tudor Jones spoke negatively about the market which means he’s talking his book hoping people will follow him. It really don’t care if I make or lose money however I want the market to fuck that shit-head in the face head-on.
Fly,
What do you think about ALU on today’s pullback?
AIG broke down in the stretch. Please call the horse ambulance.
Fly and John Paulson are getting crushed today.
I didn’t think this kind of volatility would happen until the hoity toity and hoi poloy would come back from The Hamptons after Labor Day.
INTC was kind of a warning shot this AM (along with GS) when it was upgraded (thanks 308 for the info AH yest.) as it was mostly lower when the market was going up.
Anyway OIH is a good daytade long if market rallies at all and if BHI stays positive.
Forgot to add: I wonder why Chuck B’s blog site is attracting spam like animal sex videos, etc.
Does this have to do with Drank or whatever?
Shouldn’t the title be ‘Go ACAD yourself’ ?
On another note, Tim Knight must be dancing today.
yea, he’s up 1.6% after losing 50% since March despite his swill that he’s only down 15% since then and obviously thinking his readership are total fucking innumerate worms (which they are of course).
Watch the greasy but subtle self congratulatory style he adopts later this evening. It will truly be sickening to see.
back from the intensive care unit..AIG going down 30 points this week..to 20.
is anyone else here that is on TD Ameritrade seeing your 52 week lows on the streamer all fucked up?
my is printing STT 52 week low as 0.04 and UBS as 0.09 and C as 0.03 and AA as 0.25 and WMT as 0.03 etc etc….
yes…same thing..normal weekly glitch i guess
they do seem to have some sort of glitch every few weeks don’t they?
yeah they do..usually their options stuff gets screwed up..
Today is a day to resist all urges to do any impulse shopping. Seeing a stock drop 8% today doesn’t make it cheap and doesn’t mean it can’t drop another 15% over the next month. The market wanted to go down all of August but didn’t.
Yes.
ACAD is FTK’d.
(EDAP) The Truth Trader stock of the day for a 2-3 week swing. Had earnigns today….due your DD and git long and strong.
Prediction:
First ACAD ….
Then VION …. Wouldn’t want to be holding this POS after the close
Sept. 1
The Oncologic Drug Advisory Committee of the Food and Drug Administration meets to review Genzyme’s(GENZ Quote) Clolar and Vion Pharmaceuticals'(VION.OB Quote) Onrigin, both as a treatment for acute myeloid leukemia.
Shire kicking both their asses in AML and the guys at VION haven’t run a very good study from what I read …
Obama is truly an idiot…
The Tall Bourbon Swilling Trader/Golfer made a mint on his AIG puts today. Probably not even looking at the market right now…
That said, we have a dollar to watch, because no matter what Chrissy Matthews may tell you about Obama and the constant tingle in his leg (a trickle of urine, perhaps?), it’s not Obama, It’s Bernake back there behind the curtain.
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