This is it people. We either rally now or get buried alive amidst black smoke and rusted, broken down, Oldsmobiles. With my money, I am not trying to time the bottom, so I am not buying anything. My move was completed yesterday, via removing downside hedges (save MET short) and implementing a small purchase of TNA. Even though TNA is lower than yesterday’s purchase price, I am not chasing it because that would be emotional.
Remember, the market will always present great opportunities, some better than others. This particular market is very dicey and should not be played in an aggressive manner, which is why I am taking a milquetoast approach to it.
For now, I am comfortable letting my longs recover, instead of adding to them down here.
If you enjoy the content at iBankCoin, please follow us on Twitter
Love the picture!
That’s my new word learnt for the day.
Recognize it’s a Commonwealth term but “learnt” is considered “bad English” here in the Etats, and you will be severely reprimanded if you mark your SAT’s thusly.
_____________
Sorry was it spelt wrong ? 😉
I appreciate the linguistic lesson and shall strive to remember where I am when spouting henceforth.
GS — Are they bound for 130 or 150?
–130, and a purple drank-filled chalice of glory.
I vote Die….but a nice slow death…..HSBC upgraded FCX today….STUPID STUPID ANALYST I HATE THEM, China Copper markets roll and they upgrade and people listen to them….hate them.
They are just doing their jobs.
Why does anybody pay attention to these upgrades/downgrades?
Fly, I know, but I think about all the people working so hard to give them to Mutual Fund Managers that buy and sell on these Analyst Views…..yes, there is a Stephen Pope or Roach that REALLY know their stuff…but most are Ivy League MBAers that are so clueless and paid way to much money….oh well, off my soap box. BTW very interesting about Roach huh?
Fly, can I ask you a favor? Last year, I made a post with my email on it on ibankcoin for contact purposes (before I moved down to Rio). I suspect, that might have something to do with all the junk mail I’ve been geting lately, as bots pick up random emails off the net. Could you be so kind as to remove my post (containing my email) from: http://ibankcoin.com/flyblog/2009/02/17/enjoy/
Thanks, chief!
PS: It’s the post toward’s the end of that page. Thnx!
Fly….when will Romania default laddie
Is there a new cartoon this week? It is the best feature of the IBC
Where is a Mr. DevilDog?
Thanks for the heads up on the yen/FXY trade.
Spot on for now at least
As Fly states, the smart thing to do is to wait and not chase this market, which doesn’t bode well for the rally, no? Or is expecting the majority of investors to act wisely too simplistic?
Personally, I don’t understand how anybody could go long in this market. There are so many bogeymen lurking around so many corners, so many ways to lose.
Eggsactly [sic].
BP has opened the gates of Hell! We are doomed.
My first car was an oldsmobile, which is probably rusted and broken down somewhere now. RIP
you could of been doing a ‘aggressive’ back side lip slide down that bitch
(shorted stocks)
SKATE OR DIE
say wat
http://www.youtube.com/watch?v=yIqrvUqp7Ok
Just bought ABTL and PBTH
Large DVAX
Large IMAX— http://henryfoolspicks.wordpress.com/2010/06/08/imax-and-discovery-to-launch-first-3-d-tv-network/#comment-120
and large DVAX
Fly, urgent request. Can you put back up the video of Hank Paulson dressed up like a Russian tsar with the “you can have whatever you like” music? It would really set the mood for this coming onslaught, and I can’t find it.
for all you tech analysis fags out there
TZA is close to breaking out
yesterday was the first time we closed below the Feb lows
when the market wants to go somewhere, that over bought over sold shit doesn’t matter