Okay, we’ve crossed over the Rubicon line of humor, where declining stocks are no longer a delight, but instead a disgusting hindrance. Through stupidity, mixed with a little delusional machismo, I’ve managed to nearly squander all of my 2010 gains, thanks in large part to this death-tape. Fuck you very much. Yeah, lots of stocks are cheap; but that doesn’t seem to matter anymore. Perhaps the robots at Goldman are mad and no longer buoy this market with retardo style buy orders. Or, maybe just maybe the bears are right and we’re in for a long walk down. Either way, it’s important to recognize when things go awry; and boy oh boy are things fucked up in the land of bullshit, where everything is good news, even bad.
Maybe if I wasn’t so, shall we say, “less stubborn,” I would have followed the advice of the thousands of worldly folks on twitter and jumped in the FAZmobile for a little spin. I keep myself up at night thinking about such scenarios and dream of a day when I TOO can ride in the FAZmobile, with the wind blowing in my face and butterflies in my hair. I’d drive to the rainbows and pick up me pot of gold, then go spend that shit on howitzers and automatic Nolan Ryan baseball pitching machines.
Instead, I am here in this broken down jalopy, with fresh bolts of lightening christening my every move.
In the big scheme of things, this is not such a big deal, at least not yet. I have the whole year ahead of me, with lots of time to find treasures at the end of rainbows. However, as always, when in a losing position, the pain of being so stupid is overwhelming. Nonetheless, I’ve taken it upon myself to eat sandwiches and think of creative ways to recapture lost coin. Believe you me, having Green Mountain Coffee Roasters Inc. [[GMCR]] up so much is a blessing; but it doesn’t blunt the losses of my other 20 stocks declining into this “fuck the union” tape.
If the market could be presented to me right now, in the form of a physical person, I’d mace his face then kick him out of a window, regardless of the consequences. It would be a “crime of passion”; and my attorneys would convince a jury of my peers off my “unwavering innocence.”
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Yes we can’t
Change you can forget about
ftk
STSA – Get sum son!
Just when the pain was so unbearable, like hot hot coffee was being poured on my…nay into my…
I asshole dip bought. So far, so good.
And my… smells like a peppermint latte, so that’s a plus.
I think we just smacked the support. There is a major support at SPX 1081 that has been there the last 10 years. VIX is in descending triangle and I think it will break that bottom. Its falling fast.
As a single, young, unattached guy, I am willing to bet that this is our pivot. For the rest who dont fall under that status, dont fade this like me;)
http://bit.ly/9eFmQ8
Sorry, I am busy hanging from my own petard. Come back later.
I am entirely out of all short positions. Some at a loss, most at decent gain (not as decent as I expected but thats the narket for you). I think Bernanke rally is comming and I intend to get short for real after this short lived rally. even though I thing it’s short lived, I expect it to be sharp. I am not longing anything and 95% cash and redy to short the crap out of this market by end of next week. Not all news is being treated as good news any longer. God forbid some real bed news comes along and markets shits the pants.
The analogy of fly that we should punish AAPL for it’s succes is WEAK. We all love capitalist system where the ABLE prosper. AAPL is and has been able. The banks, which are no more than a largest criminal syndicate in the worls displaying the most criminal tendencies in the history of the world, are not! They are outright stealing and we should stop them. I just wish the ‘Volcker’ speach is not just a political game played by obama but a real fight! This has yet to be seen and I pray that it’s real!
Is it me or is the spelling so bad that this post is a pain to read?
nope. i cut out at the first sentence. too hard. kinda like being long right here…
Are they expecting any snow in Mexico this weekend?
Borat, is that you?
No joke Post:
I think this IS the “big boys” saying F U to Obama. Many post, blogs etc. on the net talking about how the institutional money isn’t even particitpating here and that this is just the public investor that is in the market, trapped and selling when they can’t stand it anymore. Volume sucks
My scenarios are as follows:
1) Monday marks the start of a new month and the mutuals load up like mofo’s and away we go liek we did Jan 1
2) Bernake doesn’t get confirmed and we go down the pipe further
3) Greece is fucking us over and there is no quick solution to that and the selling continues. This also equates to a dollar run which fucks over any of the resource names.
my 2 cents
Cheers
Greece [sic] usually makes for easier fucking
There’s also the old joke about Greek sexual tendencies. Something about a crowbar and separating the men from the boys.
fid
Jesuso Christo! Burnett breasts are much smaller than I thought…
FLY>>>>>BURNETT
No spelling errors. You are just an idiot.
Not yours, Joe’s post.
and don’t forget tomorrow is “sell off friday” so….
If MSFT doesn’t blow it out of the park, get in the FAZmobile and put on your goggles.
MSFT will beat
so did GOOG….
Everyone beats this time around
http://www.bespokeinvest.com/bespoke/2010/01/cant-blame-earnings-season.html
Nope, there is something more at work here and if I put on my tin-foil hat I would say the heavies sold all their longs and went short after Obama’s speech.
GOOG has other issues MS doesn’t
fuck you too
Everyone here sounds like bears now. Next thing you know, Fly will post that he is shorting the market. Has the world turned upside down? Or just this blog?
Fly, I imagine that using your time machine has some negative physical side affects; but man, we need you to get into it and come back with a report.
You must be new, or you’d know that Senor Tropicana does not marry a side. Sure, he has affairs, but can flip on a moment’s notice. Be nimble, be quick to keep up.
dumb, yes, but not “that” new not to know that the Fly can turn on a dime…
Ahhh remember the good ole days about 9 months ago when you could use the Fly as a contrarian indicator… when Fly switched from Long to Short about a dozen times in 2-3 weeks. Ahhhh, the memories.
This dumas? Been getting into cash for over a week. I could read between the Fly-lines… Fly was hedging the long. For example… when he called 11,000… if he really meant it, it would have been in the header and there would have been some prolific cursing about how stoopid you would be to think otherwise. But he just threw the 11,000 comment out there in a sentence and in a rather muted manner even.
Or DPz,did you mean this comment for eisensteisn?
What gives Fly, I thought this was a LONG ONLY market. I did as you said and manned-up and went long. Now what am I supposed to do?
Man overboard.
The action in banks is a screaming indicator that the market rally, albeit short term, is due. The fuckup ben will be confirmed.
PEIX volume
http://ibankcoin.com/henry_fool/2010/01/28/peixbuy-it-because-the-volume-told-you-to/
bought yesterday at quarter til close @2.03/4. put a stop in at 1.98, just so i didn’t have to fuck with it today. neglected to click the stop button and allowed the limit default. didn’t notice til just now.
so pissed. so stupid.
YO
We might bounce at Weekly S1(1760) on NQ futures, but a close under Monthly S1 (1788.5) looks likely at this moment. Close belo MS1 didnt happen once in 09, so im thinking we need to crush some shorts into the weekend *hope* to get back over da #
S1 and R1 often act as break out/break down points
thats alls i got for yas bittches
YO
We MIGHT not see a bounce toolbox. Who the fuck is stupid enough to buy stocks right now going into the weekend. Those with positions that are flat or slightly down will sit idly by as their portfolio shrinks one week at a time.. those with balls will short the market will bank some coin.. although I advise not to sell all out rather put on shorts.. even keep your net exposure long.. but hey at least try to make some coin while this market goes down or “corrects” itself. To you CNBC fuckheads … how far does the market have to tank before you actually say we are in the midst of a correction… the sooner you admit it the sooner we can get out of this fucking mess.. i mean we are almost 10% of the highs.. stocks are trading down on killer earnings and obvious signs of recovery. The fact is le market was overvalued.. just look at PE’s and forecast growth.. do your homework and due diligence.. there still are some gems out there .. just not everything is. be selective.. look at GMCR and APPL .. they know what the fuck they are doing.. and the fact is there still are enough people with excess coin who will buy this shit… the market is more affected by commodities and banks who have a huge percentage weighting on the market and are directly tied to bigger economic themes…. sell out of materials.. its a 0 sum game.. its a speculator or traders market.. there are no long term plays in materials
peace
In the very short-term, we are due for a pretty good bounce judging by the % of S&P stocks above their 10-dma being 1.5 std deviations below the avg. of the last year. This stat has been a very good signal for short-term bottoms. Dare I say just as good as the PPT hybrid score but with a longer track record?
I believe this bounce will be the last quality opportunity to make money on the long side for a little while. A study of the 50-dma and 200-dma for both the S&P and the Nasdaq Composite shows that the 50-dma for the S&P has topped out and the 50-dma for the Nasdaq Composite is pretty close to topping out. With a rising 200-dma on each we are now on the path towards a death cross (50-mda crossing below the 200-dma) in each index. Being long each index after a golden cross and in cash after a death cross provides a higher return (both absolute and risk-adjusted) than buying and holding the index (does anybody buy and hold any more?) by ~220 basis points in the S&P and ~120 basis points in the Nasdaq Composite. The death cross will confirm a new downtrend. But it will be a relatively mild downtrend (at least relative to the 2007 to 2009 downtrend) like we had in 2004 in each index where the S&P put in a short series of lower highs and lower lows from February 2004 to August 2004 and lost a total of ~8% top to bottom and the Nasdaq Composite put in a short series of lower highs and lower lows from January 2004 to August 2004 and lost a total of ~19% top to bottom.
The monthly PPO stat for each index shows higher prices ahead over the longer term once this next downtrend is complete. This stat, which is one of the best stats out there for identifying major turning points in the indexes, is still pointing strongly upward.
In summary, here’s what I expect;
Short-term bounce that takes us up to but not above the January highs by the middle of March. A series of lower highs and lower lows ensues that takes us down ~10% and ends in October. Following the short and relatively mild downtrend a new uptrend is spawned that renews the push towards the 2007 highs.
fid
Aaaand…WE’RE BACK!
Old Chinese saying: Man who speed chop carrots with balls on table sooner or later wind up with nuts in his salad.
Revenge of the Keurig.
How do you turn off Bleirer’s live stream? Not that I won’t listen to it at some point, but I don’t want it in the background while I’m on the PPT and I don’t want to have to reduce the volume every time I go to a different page. I don’t see any close icon.
press pause