You fuckers are out of your minds, getting long ahead of a June jobs number. Didn’t you assholes see the crisis unravel in May and June? Logic dictates, as business owners read the headlines coming out of Europe, they were tentative about bulking up the work force. Now that we have reengaged sanity, I expect the market to do nothing less than shatter into one thousand different pieces aka “fall by 1,000 points” from yesterday’s close. It’s not that big a deal, in the whole scheme of things. Plus anyway, most of you are hardly managing any money at all. You certainly will not miss it when it is gone.
As for me, I harbor a high level of disdain and resentment for this market. When I look at my screen, I do not laugh or cry. Actually, aside from the occasional sneer, I am emotionless when it comes to investing. My wife calls me catatonic. I believe I am preparing for the after-life.
On a personal level, I am making some money today; but expect to make a great deal more in the days and weeks to come. Let me remind you how awful the month of September is for investors. Could you imagine how befuddled investors will become, following a 1,000 point rally—when the whole cake starts to crumble—during the time of year (Fall) when stock market crashes are most prevalent? Why, it’s almost worth paying to see.
I hope you understand now: the recovery of the U.S. economy is nothing more than a sham. While it’s true, earnings are robust and commodity prices have risen, there are counter-balances, such as your house, your electronics, clothes and other discretionary items that are enduring margin erosion.
In closing, you should all rejoice, for Senor Tropicana did it again, despite all of your ill wills and flagrant comments; I spit on your person.
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Darkest of night
With the moon shining bright
There’s a set goin’ strong
Lotta things goin’ on
The man of the hour
Has an air of great power
The dudes have envied him for so long
Oooh, Superfly
You’re gonna make your fortune by and by
But if you lose, don’t ask no questions why
The only game you know is Do or Die
(insert pithy comment here)
How is the new sod growing on your bed of egregious chemicals?
ba hahahahahahaha
exited VXX swing from 21.80 , at 22.24
I think we chop around flat or up until tuesday, because I cant see anyone wanting to sit short commodities into FOMC.There is a potential QE 2/free mortgage triggered dollar massacre. At least , a temporary one.
We’re still one headline away from a Dollar index rally to 85. But, we’ll have to dodge Ben’s bazooka first.
http://www.youtube.com/watch?v=d55RUgUbW3g
Tuesday is likely the last rally we’ll see this fall.
On the off chance the fed does nothing, we are dropping like a rock.
I have delayed sod implants. I want to see my lawn turn into a desert first, just to fuck with my neighbors.
Why are you messing with sod?
Just turn your yard into a Japanese rock garden, complete with a “serenity pool” and exotic fish. Hell, you could even thrown in a few lobsters into the pool for consumption at your next “I win, again” celebration.
Oh, yeah. The wife probably likes natural grass instead, no?
Actually, I have a pet lobster. He ate all of Mrs. Fly’s goldfish.
That’s my kind of lobster. He should not be disturbed or eaten, as he goes about his mission to devour the goldfish population.
he is now on a steady flake diet now. I need to buy more goldfish
We leave food out for the raccoons every night. Here’s how it goes- purchase high end pet food for the dog, she rejects it. Give the expensive dog food to the raccoons and give the dog Caesar brand.
Only 1000?
“I spit on your person.”
Should have read: “I spit on your pension.”
I like this market
Nice call.
I had puts ready to buy yesterday before the close and putzed out because I had grown to use the ppt OB/OS as a crutch. From now on, I’ll just trust my gut along with copious amounts of information understanding the double talk contrarian indicators in the MSM. Romer’s departure announced yesterday was a good tell after hours when there was still opportunity as well (since politicians always shove out a fall guy/girl to take the fall for bad news).
We should have crashed even harder, I think Greenspan and the Fed are holding up the market – new support appears to be 10,500 on the Dow. ECRI just turned up (woo hoo).
Would still love to short, but have been burned too many times by .Gov and Greenspan keeps making weekend at bernie’s appearances and warning that the market leads the economy. Eventually only the market will be the economy as they haven’t focused on job creation on main street, but magical statistical illusions.
Love it…….Faz-mobile looking good
Making reservations now…
http://www.fazrestaurants.com/
..” expect to make a great deal more in the coming days and weeks to come.”
That’s redundant, especially the part about making more AND MORE!
I was just about to fix that. Good find Mr. Internet Editor!
Ppt will be oversold, at the current rate, in maybe 100 points. And at a level well higher than the previousoversold signal.
I worry not.
We were due for a correction. The Jobs report was a convenient and handy “excuse”, serving it’s purpose to shake out the weak hands.
This market will eventually go higher in the coming weeks, as the market digests the news, shits it out and flushes it.
The global economy is doing better than people think, as evidenced by the increase in shipping rates, over the past several months, despite a perceived “abundance” of ships available.
Until a couple of weeks ago wasn’t that Baltic Dry Rub Thingy down like 3,000 days in a row?
ditto.
and lot of free money to be invested in the market , to get it higher…
I’m referring to the container shipping rates, not based on the BDI.
BDI is dry bulk materials, while containers are finished goods and products.
This from a CS analyst:
“The Chinese Containerized Freight Index (CCFI) has rebounded sharply off its 2009 lows on the back of increasing demand for containerships and capacity management by ocean shipping companies. The CCFI is up roughly 56% off its lows of 2009 and the increases have been across the board. The two major drivers of the increase have been the Far East Europe service and the Far East Mediterranean service both up over 100% off their lows. Additionally, the Transpacific input is up 57% off its lows.
US container import volumes continue to move higher heading into peak season. The US port data is a snapshot of total port traffic (includes ~60% of US reporting ports). US container import volumes were up over 30% Y-Y and up 6% M-M. On a trailing 3-Yr average import volumes were up 6%. US container export volumes were up 2% Y-Y but down 8% M-M. ON a trailing 3-Yr average export volumes were down 5%.
Looking back over the last three years import volumes peaked in October (2009); August (2008); and
September (2007). Based on historical monthly import volumes the peak month looks to still be on the horizon, our one concern is that import volumes have been pushed forward to avoid potentially capacity issues.”
Useful stuff. thank you. Any thoughts on why the disconnect between BDI and CCFI? Is it because they want to keep the inventory lean due to uncertainty of future demand, and hence the low BDI?
Coal and iron ore make up over 50% of all dry goods shipped (BDI), and China is the biggest destination for seaborne dry bulk freight, so a slow down in Chinese demand affects the BDI.
CCFI is finished goods…China’s export market…to Europe, ME, NA, SA. Different sector of the shipping market.
look the squeezes… .. they’re still on ..
Fly did you sell faz today?
I couldn’t take the risk of holding it in case we reversed, but it sounds like you won’t sell it today for a quick trade?
No, I bought more at the lows of the day.
Taking a small AAPL position rigth now with an equal hedge of tza. Apple will be doing well but small biz will be crushed in this economy.
small biz in this economy has already been crushed for more than 2 yrs. now. trust me
Tell me about it and it will get a lot worse. Walmart and Amazon are killing small biz daily.
AAPL at 200SMA right now 256.08
So why did you tell everybody we’re going to 12631?
Nobody’s right…we’re flat on the week. Boo Hoo.
Afternoon short panic coming right on time…don’t want to be caught in an up 250 pt Monday again!
C’mon “FLY” you said we’d be Dow down 270 today……….1.5 hrs left!
Hold your breath
Buy the dip
I think the 1000 pt decline is going to be from 12k to 11k in November after Obama & Co. has pumped the market for the elections.
Usually on a day like this we would get a nice swoon, but the volume looks light and the TradeBots are in the Hamptons. And some SMH components look okay (like AMAT,TXN).
Looking at my screen I traded SMH,AMD,and NSM starting at 9:30:58 and was out at 9:41:10.
A good 11 minute work day for about 1.5%.
It would be good to do that every day.
Have a good weekend.
Alpha Dog, I have an import business, the rates are killing us, the shipping rates are back to levels in 07′ but we have deflation in goods now , profits and sales are being squeezed by inflation in ship rates and China goods. In 2002-2007 run we can handle higher prices becuase we had large credit expansion, not now, we have deflation in consumer goods.
Do you know if there are as many ships in the water today as there was in 07′?
I expect these ship rates to start dropping soon as imports slow, due to the fact that cost prices have run ahead of consumer prices
This is definitely an area that investors should be watching.
Sources say that “while super slow steaming has had a major impact on the strength in container shipping rates – demand has been equally important. Super slow steaming has reduced container capacity by 15-20%. The lack of equipment has helped push shipping rates higher. Additionally in conjunction with the strong rate environment the idle containership fleet has dropped to around 2% (down from over 10% last year).”
Demand has been strong – but volumes may have been pushed forward ahead of the peak season. Last week the top 10 Chinese container ports reported June monthly traffic which in terms of throughput
was their second highest traffic month ever. The potential negative with the data was that throughput traffic was down ~2% M-M. Looking across the Pacific to the US, import volumes for June were up roughly 30% Y-Y and up ~6% M-M (based on ~60% of US port capacity). This is the highest import traffic at these reporting ports since October 2008.
Turning to exports, these same ports reported volumes up 2% Y-Y, but down 8% M-M.
Supply remains a challenge, but peak looks to be in the rearview mirror. The global containership fleet has seen just over 100,000 TEU delivered per month through the first half of 2010 or about 6% fleet growth. Expect the fleet to grow by 12% in 2010. In 2011, expect fleet growth of 8-9% which would be below the average growth rate of 12% per year over the last ten years.”
“My place”
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