I sold out of American Capital Ltd. [[ACAS]] , Holly Corporation [[HOC]] , [[UNG]] (fuck that ETF) and Hercules Offshore, Inc. [[HERO]] .
Cash position nearing 30%, while year to date gains are donkey dick large.
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the ETF has been doing ok I dunno WTF you complaining about
ERX is gone sick in the head (again).
I am having a pony race between AGQ and ERX, with one foot on each pony’s back, Spartacus style.
Oops, there goes another $50 porterhouse on the floor, cooked too “medium,” not enough “rare.”
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Hey Jake, friggen great, great call on gold, Dude. Youse the man.
Indeud.
Thanks… don’t forget about silver (EXK, CDE) today, and then there’s this call… up just a bit today.
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sold WNR
adding to SVA under 10
do you still have any CSIQ?
DPTR looks like a ripper
My cash for trash program is working wonderfully. Shorts are getting SQUEEEEEEZED. I just don’t want to stay around too long. Tuna melt-up for lunch anyone?
I don’t know what’s going to stop it though. This is a melt up because the market is essentially saying rates are too low and that the Fed is going to keep them there for too long. It’s really fucking unhealthy in a way, as we all know how it ends up.
I can see the Fed’s strategy which is to reflate the dead in the water assets and then when the coast is clear raise rates. It could work, I’m not that smart to figure it out if it does or not, however they’re really playing with fire I think.
All these idiots are saying that market PE’s are getting to be too high and that should brake the market and stop it from going higher. But what the fuck are people going to do when the see the stock market going up vertically and they’re earning 30 cents a year on a time $500,000 deposit? This is a relative game and the Fed wants people to go bid up assets, take risk and not leave money sitting around. The trouble is that next time round they may not be able to bail more fuckers out.
This may not stop where people think. Again I’m not trading to be bullish but the fucking thing could trade all the way back to 14,000 in a short while and have everyone look at each other not know what the fuck to do seeing this is uncharted territory as the level of liquidity and loose fiscal policy is extraordinary.
My guess is that if it really heats up too much the Fed will come in and try to talk it down without pulling the trigger on rates. we go down again, scare the shit out of everyone including the Fed then we resume the uptrend for the same reasons.
We’ll know eventually.
j, ditto.
Couldn’t agree more.
Ozzie Ozzie Ozzie!
I agree with you that one possible reason for further melt-up is that people are trading off of prolonged low Federal rates, weakened dollar, possible uncontrolled inflation, but let me say something about Fed strategy. The Fed has a dual mandate of price stability and full employment. It’s evident that employment is not recovering as quickly and therefore the Federal Reserve must do whatever in their power to make money available to businesses.
Right now we are in a deflationary period whereby the Federal Reserve is acting to fight it and inflate. Deflation is much more nefarious than their targeted 2% inflation rate. The deflation will wane when inventories are cleared out and wages/unemployment are steady.
The Fed also has a new tool by which they can control the flow of credit: interest on excess balances. The Fed’s balance sheet has expanded by an enormous amount as they have used banks’ excess reserves to purchase MBS and Treasuries. They pay the banks interest for this ability. So the Fed is borrowing at a low interest rate and earning a much higher rate on the MBS and Treasuries. At the same time the Fed must wait for unemployment and wages to pick up because if they begin to increase Federal funds rates or interest rates on reserves, the spread between their assets and obligations will narrow. I think the leading indicator here would be a monetary policy change in the interest rate on excess balances and a raising of it would signal a necessity to tighten lending in the banking system. The Fed will not raise rates before unemployment increases though because a situation already happened similar to this in 1936.
Back then the economy was showing signs of recovery and the same fears of inflation were present. The Fed acted by increasing rates prematurely of full recovery and sent the economy back down. The Fed is fully aware of this situation and will make certain that they do not repeat it.
I really think the key to a global recovery, especially for the US, is the effectiveness of the new stimulus programs. With the tech bubble the downfall was the fact that the inflated IPO’d companies didn’t really add anything to society, couldn’t come up with earnings, and their fundamental failure led to a crash. The housing bubble had another human flaw in that people couldn’t come up with earnings for the inflated multiples/mortgages the stocks/obligations commanded. Cheap credit and inflation are fine for a while as long as the earnings are there, which I’m afraid monetary stimulus may not provide. For the love of CSI as a blueprint for psychopath murderers, companies must EARN to align with “historical valuations!”
Great comment, Real.
Thanks
Tell me about it. They are castrating savers. I’m going on a long trip wanted to lock some cash in … We are talking 0.0075% for savings. BS
There’s an ETF that tracks size of donkey dicks?
Okay Timmay just capitulated, he’s now claiming he started accumulating longs recently. This is the cue to get the F out of dodge, I mean sell anything that ain’t nailed down. Everything the King of All Boobs ever buys was done yesterday or earlier this morning. After all you’ve got to give it some time to swing in your direction before you let anybody know.
Of course I could be wrong as TIM has gone bullish today. What we need for the market to really take off is a drop of 35 points and TIM invariably gets super bearish again. The market then takes off and he goes on suicide watch …….again.
We repeat the same pattern 50 times all the way to 14,000 which is where he started to short.
hahahahahhaahahahah Lemonj …
I swear we must be joined at the hip in some parallel universe. I posted my TIMMY comment at exactly the same time.
How about that. LOL
It’s hard not to watch that guy scrambling around like a drunk looking for loose change. I mean seriously, are we really buying his claims that he started accruing these bullish positions just before the market drove its fist elbow deep up his hind end? His crew over there is so busy lamenting the sudden realization that their liberal arts degrees do not in fact equip them with the requisite knowledge to peel an apple (not to mention comment on economic policy), that they aren’t realizing the rouse.
well said.
That is too fucking hilarious
You really need to start CC posting these over there. TIM will make another post to quote you and call you an angry man like he did me.
What part of your wrong and it’s fucking stupid to not realize it and keep losing money does that moron not understand? How can I be angry when I’m banking coin all over the place like everyone else here?
I could take numerous members of his drooling mob out to the shed, but he just keeps posting things I couldn’t make up if I tried. Just 24 hours ago he was claiming to have a relationship with UNG and that he was shorting. Now get this, he’s again heading out on a sympathy mission claiming how when he was right (for 3 months last year) he didn’t taunt anybody but instead talked about donating to charities. I’m waiting to hear the Fly’s list of charities he’ll be handing his winnings over to.
I have no problem getting headlined over there, but the guy is such a manipulator I’d just rather post someplace neutral (meanwhile the Fly is probably getting ready to pull my card). I’ll bet you can draw twice the crowd commenting on these dopes as they do themselves. The drooling mob can’t help but be curious what we’re saying about them (human nature) and it saves everybody else from having to suffer through his awful personality. Besides, I’ll bet he spends plenty of time over here reading everything we say, he’s just one of those types.
Lemonj:
lamenting the sudden realization that their liberal arts degrees do not in fact equip them with the requisite knowledge to peel an apple (not to mention comment on economic policy), that they aren’t realizing the rouse
That goes at the top of the comments of the year pile. LOL.
Reading about economic policy over there ought to have health warnings.. seriously I almost a developed a brain aneurysm as a result.
It was only yesterday or the day before that he was talking about how this market was going to slowly saw tooth its way down again and now he’s bullish. Fuck me.
cvm more 1.30
this shit is simply insane…..
Logic, defied. Again and again.
fyi..
when you say you are a net seller here.. what does that mean?