I think we are close to bouncing; but what do I know? Hell, I am only on a 10 year winning streak, despite having wide ranging intellectual impairments, with regards to not believing political campaign literature and commercials. Everyone has their vices. I guess my biggest one is being able to see the worst in everyone. I am a cynic and it helps to fuel the fire in my stomach, which, incidentally, makes me work harder than everyone else.
Aside from the stocks on my radar, there are a number of others that have been resistant to the recent decline. It is incredibly helpful to see what the morons at our local mutual fund companies are buying now, into weakness, since they may be outperforming other equities if the market goes on a protracted decline. Also, consider the following: we are ending the calender year soon and many managers want to chase performance, into the New Year. There is no way, on God’s green/filthy Earth, that the market is going to collapse into the New Year, while sitting on handsome year to date gains.
Here is a short list of names, screened by The PPT, that meet the criteria (min mkt cap 10 billion, hybrid daily change 5%+, % from 52 week high less than 10%):
Lorillard Inc. [[LO]] , Duke Energy Corporation [[DUK]] , The Coca-Cola Company [[KO]] , Kookmin Bank (ADR) [[KB]] , Shinhan Financial Group Co., Ltd. (ADR) [[SHG]] , Best Buy Co., Inc. [[BBY]] , General Mills, Inc. [[GIS]] , ICICI Bank Limited (ADR) [[IBN]] , Abbott Laboratories [[ABT]] and [[MCD]] .
In this screen, same criteria as above but scanning for hybrid weekly change leaders, the following met the criteria:
[[CGA]] , Wal-Mart Stores, Inc. [[WMT]] , Best Buy Co., Inc. [[BBY]] , Visa Inc. [[V]] , TransCanada Corporation (USA) [[TRP]] , General Mills, Inc. [[GIS]] , Shinhan Financial Group Co., Ltd. (ADR) [[SHG]] , The Mosaic Company [[MOS]] , Abbott Laboratories [[ABT]] and Duke Energy Corporation [[DUK]] .
Like it or not, that is what is working now, at least in large cap. All in all, not a bad list and not overly defensive.
My best guess, we strengthen throughout the day, based upon the prospects that the dollar will get its face punched in again.
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This dude should be the next prez of the US.
http://www.youtube.com/watch?v=b2EhAVQS2V8&feature=player_embedded#
I saw Dr. Paul’s holdings circa early 2008 per campaign rules – they would make Jake Gint blush.
So much PM-related stuff, including juniors, that he must already know what he’s going to find in the Fed audit.
It’s not rocket science, after all.
Only one way to “pay off” all that debt.
With tiny little dollars.
_________
*prepares face for burn trauma.
Let the first volly of hot slices of pizza commence.
FIRE!!
The Fly/V.King
2 0 1 2
What an incredibly useful comment.
I think more people would read your crap blog if you would just quit the dumb advertisements in the comments.
Anyways, i’ll go back to ignoring you now.
But do we have your vote….?
How much do you bench?
MOS is having a damn good crack at its recent 55$ resistance level right now.
If it can close a little higher from here, it can go to 65-70 in pretty short order.
Le Fly, in regards to seeing the worst in people – I don’t think questioning the norm and trying to ever succeed is seeing the worst in things or people is. Having a doomed and *always* blaming shit on the other guy is.
Please tell me English is not your native tongue.
You be right good Sir!
The shorts that I put back on last week and the begining of this week are starting to pay off. GE, TOL. Puts on RTH are looking good too. My BAC short is hanging in there. BAC is a piece of shit IMO.
I have covered my APOL short, pounded on that bitch for a nice 17 points. I am done with her. got my $$ now to move on to the next overbought piece of shit.
You can’t fight City Hall
Don’t Fight The Fed
Remember a few years ago BAC and GE was in the 60’s and high 30’s
Good. Be quick with your trades, in order to recoup losses. It does not matter if the market plummets. You need to exercise a bit of discipline and not always swing for the fences.
Thank you master Fly
Le Evil Eye Fly. How very French.
I see you are making dollar predictions again. Here is some wonderful free info on just that subject:
Disturbia from Eclectica
Based on the comments at ZH, this is not the easiest read for persons who think macroeconomics is a political buzzword (i.e. your readership). And yet, I do believe Mr. Hendry is on to something here.
Mr, Hendry has not had an accurate call since 12 months ago.
And he uses Denninger as a source for data, as credited in the one graphic. A doomblogger over Dr. F? Really?
I cringe when people throw out predictions for GDP, dollar, etc. for a length of time greater than 1 year, let alone 5. Some of the worst are energy agencies giving out oil production/consumption estimates for 2030. I’d like to shoot fucking expired frozen turkeys from a cannon at their elastic waist band stressed stomachs.
My God, not another deluded Keynesian; my lunch is unsettled from reading this. Especially the part where he suggests that all the inflation occured over the last 5 years and we’d now experience dollar strengthening. In case you’ve never attended a class on Macroeconomics, the models always encourage inflation, “for the greater good,” or some stupid shit like that.
The other half of the class is listening to the professor carry on about how Keynes was ten times smarter than the average man, a brilliant genius, with all the worlds answers, in a very unsupported and illogical format.
To the article, the only point I agreed with was his assertion that China, by itself, will not fight the dollar. At least, not until they have something better to finance.
fucking fuck fuck….. we were so close to some curse words…… now, looks like we have to wait till next week, and you guys will have to settle with mine for now……..
carry on.
The Thanksgiving deities will not see iBankCoin curseless.
They will wait until “apres Thanksgiving,” however.
______
Fashionably late.
Panda – Agreed.
Dr. Fly wields the blow torch of truth and cynicism to burn away the bullshit that is passed off as investment “advice”.
Thank you Dr. Fly.
Those TZA Jan 12.5’s kicked ass. Out @ 1.70
CAGC is keeping my nuts safe from being pushed in today
Followed Fly on IBN yesterday; 500 @ $38.87
I’m tempted to buy more SVA in here… anyone else?
weird tape here. I thought we’d peck away at losses; but we are just flat.
OPEX – doji day again
Market is looking to pin somewhere probably 1090
Are you able to use your time machine to make it go up Fly?
I always expect the worst in people, in fact I prepare for it.
It really suprises me when someone decides something unselfish, it’s like a trip to the twilight zone.