Oh, I forgot about “the idiot tape,” where people sashay in and out of stocks, as if they were trying on dinner costumes at their local Bergdorf Goodman.
You know what: I’m just going to walk out of this fucking office and go for a walk in the rain. Nothing says “fuck you” like a good stroll in the rain, sans the luxury of an umbrella. The market is up up up, then down down down. It’s too much already. We’ve dropped 500+ points in a few short days and some of you morons want another 5,000. Fuck off and go throw yourself into a lit fireplace.
I’m not backing away from my bullish proclamations, despite this knee-jerk tape. Although, there are a variety of things that can convince me to sell short—which I will discuss at a later date. Nevertheless, I insist: this is a LONG ONLY market, unless of course you’re into swimming with chum on your face in the middle of shark infested waters.
Off for my long walk.
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ftk
Actually, that would be a Homosexual Opera (see iBC dictionary)(not that there is anything wrong with that).
All the big buyers are gone, they all went over to see The Fuckery play their luncheon gig.
Jim Chanos has a video on Bloomberg about China – worth a listen. The Chinese commercial real estate market is way overbuilt now. China is the marginal bid on iron ore and copper etc.
I had a decision to make, in light of this dreadful tape:
Sell out of all the China names I’ve been pumping on iBC, or eat a handful of Klonopin. I chose the former.
I got worried and raised a bunch of cash, piker-style. It is what it is.
(FYI – when I do this, it usually indicates a bottom)
There there Little fly, its ok… (utter lie)
I’ll say GOOG/AMZN looks like good buys here…both are oversold big time…
FYI…Easy win for Colts this Sunday, not even worth watching. I was kind of worried if we went against Vikings, but nope…
Should be a cakewalk for Commercial Boy. He’s going to pick up all those sponsors that just dropped Tiger now.
I’m just hoping he inspires his dull witted little brother to go for another ring too.
Freaking Favre, his own worst enemy.
________________
It wasn’t Favre, it was the fuckin’ replay refs. NFL wanted Saints in the Super Bowl,
and the fix was in. Who is to blame for 12 men in the huddle? Without that there
would not have been a long 3rd down play.
Peyton couldn’t carry Favre’s jock strap.
That’s only because it’s auld and stanky.
Favre would be great with the addition of one or two (or three) more marbles.
Agree on those horrendous calls in OT, but the ref didn’t make the Pillsbury Pill-boy throw that cross body pass to kill the easy win yesterday…..
OR in 2007 in Green Bay, either! 😉
_______
Disagree. I think the saints D actually makes this a game. They gave Favre a hard time and he’s got the best RB in the game behind one of the best O-Lines in the game. A frusterated Manning won’t win a superbowl…
Without the TO’s, it would have been a reaming, BOHICA-style.
Don’t forget – the Dolt defense is better than they seem, being overshadowed by Commercial Spokesboy’s laser-arm.
But it’s the laser-arm in the end that will pick the Aints apart. The Jests secondary is about a hundred times better than the Aints’, and they had no answer.
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Saints D sucks.. Mathis/Freeney will maul over Drew; Colts by 14+ book it… guaranteed win;
I’ll admit Saints are an offensive juggernaut, but thats about it… plus we’re a veteran team, been there, done that… when it comes down the stretch like any sports team, experience matters the most.
I personally would have tried to go on the Superbowl here in Miami (3-4 hours from where I live), if we went against Vikings. Even myself as a hardcore Colts fan, would have put it at 50/50. But Saints, come on…they have as much chance as the Jets did….
Yes, the Jets secondary is better than the Saints.. but don’t forget, the Jets also had a long bomb TD to braylon edwards and caught the colts offguard with the wildcat throw for about 30+ (a good throw and thats another TD)
The saints should dominate the colts secondary as well….
Defense wins Superbowls.
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I agree, except for when you pit the 2 best offenses against each other…
The winner of this one is whichever QB remains he most calm an executes the best…netiher defense can stop either offense…
HENCE…Peyton! Guy is a fucking Android 1 Google Robot…never get flustered, always calm…Unlike Breeze who was shitting bricks (like a little bitch) when they were about to lose their first loss of the season.
Remember, whos the MVP and who had SEVEN, SIETE, 7, VII COMEBACK wins this season. I think we were down something like 24 on the fourth against Patriots and we came back and won.
What’s with this “we” shit? What position do you play, hoss?
Just like the November Turkey Gods took this market higher in November and Santa Claus took this market higher in December, the football gods will take this market higher over the next two weeks.
CNBC talks about the Super Bowl, people get all giddy about it, and the market bounces 40 points. Indued [sic], the football gods will move this market higher over the course of the next two weeks.
I cannot catch a break lately. I buy, it falls. I sell it rises. I short, it rises. I cover, it falls. I hedge, its flat. No hedge, crazy tape.
I am going to smoke a cigar and take a dump.
which is exactly what this tape is doing….
LOL…….MOOBSKI you are a funny cat.
That Avatar rules.
Queer Tape….punch bowl fixin to be pulled away….(see P.Volker)
I do not like that he King Lear’d Bob’s Big Boy.
He’s scaring the children.
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I can’t believe you picked up on the Shakepearean reference with the eyes. You, sir, are a Brainiac from the planet Smartron5.
Thanks for that, but in all humility, “Out out, vile Jelly!” is a pretty memorable line. Don’t quiz me on all the sisters’ names.
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Fly,
I have been lurking here for year. I fondly remember the days of the third tier Fly blog and the time when BWLD blew up in everyone’s face and you threatening bodily harm to a poster that just would not quit (what ever happened to Cigars3?). Anyway, I digress. What I also remember is how long-n-blustery you were in mid-’08, kinda the same as I read today. But what I remember most is fucking quick you turned at the end of ’08, went short and killed-’em for the next year plus. Well, I know that you have your time machine gathering dust in Ms. Fly’s back yard next to the Webber and swings. Well, I was wondering if you could dust it off a bit when you get home, fire the bad boy up and just take a quick look into the future? Please
For everyone else, when Fly turns you will turn on him surely as a dog turns on his master who fucks with his food bowl. Just know this, that the time machine was cranked up and another small hole was pierced into the space-time continuum – and that it was done for your benefit. Sit back and understand what is really happening when that time comes.
Why don’t ya just say “prepare to get short” and leave the fluff behind?
You are a punk. The guy was giving Le Fly credit for a job well done and you have to go an piss in his snowcone.
You owe me a snowcone dick!
Thanks for all the links Teahouse. I’ll make myself several scotch and waters and get into those tonight!
So much for FTK, fly care to buy some more of it so that we don’t see all the red on that one?
You are correct, sir, that over the intermediate term this is a long-only market. Especially in small caps;
http://www.freestockcharts.com/?gclid=CMr_0676454CFQ4NDQod0mI29w
Over the short term there will be rallies and pullbacks sure as day follows night and night follows day. I’ve been doing pretty well since I learned (the hard way) to time my long entries using the % of S&P stocks that are above their 10-dma. It has nailed every short-term bottom during both the 07 to 09 downtrend and the 09 to 10 uptrend. Currently signaling to back up the truck. I’m expecting this time to be another great entry point for long positions that I will want to hold for the intermediate term.
http://www.indexindicators.com/charts/sp500-vs-sp500-stocks-above-10d-sma-params-x-x-x/
fid
Every single fibre of my body says to short this tape. But, I’m NOT going to do it. My respect for FLY is growing day by day.
Don’t short… you were 4 days late to the party.
I am seeing loose areas of support across all of the indexes and sector etfs. I am also seeing the $VIX burning off from an extreme high.
http://bit.ly/8pqk1F
Mondays are cool.
16 of the past 18 Mondays have been up, for a 15% gain
http://www.fundmymutualfund.com/2010/01/mondays-continue-to-be-wonderful.html
The other days? Not so much.
This tape primed for a monster move at 1:00….. brain says “up”… gut says “down” or vice versa…..
My gut says “tuna on wheat with sprouts”.
Was that Central, Mountain or Pacific time?
LOL…. this tape OD’d on Ritalin, maybe???
like watching paint dry….
LOL…either that or your brain AND gut are both ‘goodfernuthin’.
I’ll be out at the end of this day. My three trend following systems made the call on Friday after the close, so I’m hoping for a little bounce today before I’m out at the close.
Also, I will stay out for awhile until I see the trend change.
Also, as a part of this decision, note that previous leaders,e.g., GOOG, have broken down (see O’neil’s system of judging markets), and major long trend lines, as well as 50 day ma’s have been violated.
Bottom line.. I’m ascairt right now and will wait until this little correction is over to get back in the market..
But than again, what do I know?
Prolly not much (hint; if you don’t want to know the answer then don’t ask the question….’specially if you don’t know the proper use of ‘than’ versus ‘then’).
fid
Here is a look into the future. AAPL releases earnings, they are good, warns of slowing demand, but announces Verizon deal. APPL gets slammed tomorrow because idiots only bought 19.999M iPods versus the 20M expected and the iPhone continues to suck big time, it really does, as all the kids bought them already. The market uses AAPL’s earnings to sell tomorrow, no matter what they really are. Good earnings means nothing when we had such a huge rally, they will need to crush earnings and they will on the EPS side, but not on revenue. However, I like tech, it is the only bright spot in this miserable economy.
This, sir, is the begining of the correction as perfection was priced in.
Later in the week unemployment claims continue to climb, GDP shows 4.7% 4Q growth due to government transfers and inventory rebuild, GDP growth is done. Incomes and wages decline, further, and the market sells off because it has 5% GDP growth for 4Q priced in. Obama says something else “stupidly” to further crush the market. People, including the long only idiots, will realize that things are not as good as they thought, whip sawed big time. Fly should take his 5% profit in steel now before everyone realizes that the inventory build is done and real demand for steel is not so hot, plus 5% in a day is not bad.
My, I will continue to hold my long-term longs, I like TKLC and owned it at $15, I like PLND, biotech looks great here and I like a lot of things on a long-term basis, but I know that things do not go straight up, ever. My shorts were up between 50-75% last week and I am holding most of them for now until I am proven wrong. After all, we had a 500 point decline and this is all of the dead cat bounce we can muster? This is not good, especially since the markets crossed negative earlier today. Just my thoughts and what I do know is that one of us will be right.
Why would no one hold cheap put options right now? Some of the greatest investors of all time always held some short position because no one owns a time machine.
All your shorts are up 50-75% in a week? Lol