The [[FXE]] is ripping. Banks, such as Goldman Sachs Group, Inc. [[GS]] , Bank of America Corporation [[BAC]] and Deutsche Bank AG (USA) [[DB]] , are higher. Oil is up and the dollar is down, yet here we are stuck in the mid-range of the trading day. The only standout negatives are the horrific price action in both CRE,metals and ever advancing yen, [[FXY]] . People are now spooked about China, effectively discarding the respite in the euro. I am not sure if today’s trading action makes sense, particularly when all of the ingredients for a rally are present. Believe you me, I am very tempted to take some [[VXX]] off my chest and buy a few dips.
However, the shadows near my favorite urinal are smoking cigars, as we speak. Whenever those fuckers smoke, the market shits itself.
I guess the most negative aspect of today’s tape is: WE SHOULD BE HIGHER, BUT WE ARE NOT.
With that being said, prepare for late day fuckery, as margin calls get liquidated and bearshitters step in late, hoping for an early morning bounce.
If you enjoy the content at iBankCoin, please follow us on Twitter
$DD $MMM look nice
Fly is masteur of psychology.
Here are names I’m buying: GS, ABT, BAX, BP, MON. Hedged with SPY puts spreads, just in case.
Nice blend.
Fly,
Why arent you riding FAZmobiles and join the SRStards as bigger positions if you feel the market is in for murderholes?
I own 10,000 FAZ, just for the fun of it. I will not make it a serious position.
FXP was negative too. Everything is being run from the /ES right now and the pit trade. Stocks are just floating as the indices trade.
Time for margin liquidation
Grandpa Fly, I direct you to: http://www.ibankcoin.com/peanut_gallery/index.php/2010/05/19/turdinthepunchbowl-confession/
Best to just let it fall. stop trying to time.
Lamest excuse for a down day I have ever seen. Bears got NUTHIN… Get ready for a MELT-UP!
You people need faster computers, that’s all.
So you’re the homeless guy sitting outside NYSE.
well we got a support rally…
Was that you, Sir le Fly, buying my margin calls today?
We should be green and we are?
This is boring. Where’s my melt up/down.
looks like the market is making a nice base to rally in pre-market tmrw. correlation with the euro has been temporarily paused so as to not make this entire making money thing that easy…
oil is doing it’s usual stealth rally on today’s decent report – sell off big after the report and into noon so that most people will move on to other assets and then ladder step back up and above the sell off .. looks like it will be making a run for it over the next week or so.