Ok, this market is no longer just going higher. It is mugging the shorts of their money and their fucking lives. There is no rhyme or reason for this shit to keep spiraling higher, but it is. This brings me back to the go-go days of 2003, when the market bottomed out and catapulted 50% inside of a few short months. During that time, I made more money than God. However, if you recall, early 2004 offered early reservations to the cemetery, for those long semi’s. With that in mind, knowing this shit could end at any moment, I will continue to sell into this rally.
Early going the refiners are lifting off, led by Valero Energy Corporation [[VLO]] and Western Refining, Inc. [[WNR]] . Despite the market feeling slightly overbought, I like the action in DryShips Inc. [[DRYS]] and General Cable Corporation [[BGC]] .
On pullbacks, I will buy Spartech Corporation [[SEH]] , TEKELEC [[TKLC]] , Corning Incorporated [[GLW]] and [[RAX]]
[youtube:http://www.youtube.com/watch?v=WzxREVm91pQ 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is God.
Love it.
I love this website!
I’ve been keeping my eye on the Baltic DB players as there have been articles recently on shippers raising rates. It already began in July and rates went higher September 1. There will be whiffs of collusion with regulators raising their brow and darting their eyes like a cubicle worker when the fat guy nearby releases a gaseous form of his breakfast.
Here’s a reference article (http://www.scdigest.com/ASSETS/ON_TARGET/09-09-01-3.PHP?cid=2692&ctype=content).
Also, any nonsense about trade collapse between China and the US over the tire tariff should be thrown away as China imports $1 for every $5 they export. Why the fuck would they want to destroy their massive surplus? This point was even made by the US Steelworkers Union chairman. Get over it Denninger et al., Smoot and Hawley finally started watching The Pickup Artist and are interacting with others.
Fly,
AUO said they will become profitable this quarter. You used to mention it along with GLW. Thoughts?
yep….I’m selling a bit of stuff right now as well…..
I will re-access some new ideas next week….
working on my “when Israel soon bombs iran’s nuke facilities” stock list…….hmmmm
HAL
cute…..
just to let you know
i bought 5000 of FTK at 2.30
I believe I can FLY…
I believe I can mimic THE FLY. :o)
I trade every now and Then
maybe I can get some of his Zen !!
cleared off the decks as well.
Dollars = Pesos
This is no longer a bear market ralleye [sic]. WNR new highs…
what is happening is just insane….I have market overload right now.
We have 2 camps, both getting equal Bloomberg airtime, one camp says we are out of the woods and to the moon, the other, immediately following says we are going down the tubes (like the late George Carlin says…”what tubes?” and “where are these tubes?”)
All I know is, in my 10 years of playing the market is you can never bet on logic, if a stock could not possibly in reality go up, and all indicators point to it going down, then it will most likely go up…..
Hi Fly,
Still keeping the FTK? I will buy some at 2.15…
Thanks
WNR looks like it’s pushed a new support level to about 6.40, nice call FLY
Nice observation re: semis Fly.
They have acted poorly relative to the rest of the NAZ.
As you recall INTC gapped up about two weeks ago (on a Fri) when it released pre-market the good news.
The price is off about 15% from that Fri close.
INTC gapped up a bit today (then went south) and is taking the rest of the semis down.
AMAT had good news with it’s outlook when earnings were released and it’s done zippo since then.
If and when market turns I would be shorting this weak group.