It chagrins me a great deal to be missing out on a party I have planned on attending since the beginning of 2010. While you may view this decline as something of fantasy, I was expecting this to happen—as the economy double dips into Hades. The reason why I am quasi bullish now has nothing to do with fundamentals. It is about the rubber band effect and the results of sticking ones head in a hot oven for too long. Nothing goes up or down in a straight line. I am positioned for a bounce; but still have 1/4th of my assets in an alleged downside hedge, VXX. Keep that in mind when I talk of menthol cigarettes and American dreams.
As scheduled, just in time for the debut of Wall Street II, the market shall feel the pain of unrelenting asshattery. When the time comes, I plan to have zero longs and chockful of shorts. There are many things to worry about: widening CDS in Venezuela, Argentina, PIGS and the biggest bubble known to mankind China. However, everything works on a schedule.
The rubber band is stretched to its limit and in need of a little release. I am not sure we will get some fantasm of a rally today; but it’s coming.
Off to vacation again, Obama style.
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Cool
Kool
Kool Menthols
Based on your headline I was thinking maybe you decided to disable comments…
I wondered what it meant too– perhaps that the poor & the middle class have not been invited to the “green shoots” economy.
I think it means being lied to about a cool party, but the entertainment is actually a horde of clown rapists.
the market is far from oversold despite what the fabled PPT says. rules can be broken, and sideways is a direction
You are a liar.
if we hit 1020 before 1065 I would like a free month of the PPT…
You are banned….fucktoast!!
I like toast, with a side of blackberry preserves as most gentelmen do
We got this guy ‘not sure’ and he’s gona fix everything!
“Off to vacation again, Obama style.” LOL…Enjoy!
dude! obama has no style! the cockbite has style with my money,along with his horse face cunt fuck amazon bitch.welfare fucks.some brave courageous mother fucker ought to relieve himself in the fuel tank of air force 1.
That’s pretty talk.
i’ll show ya my pretty,if you show me yours, missy.
How much of a bounce for UCO..?
Ha, I like this idea. And thanks to allegedly cheap volatility, I got call options on UCO pretty cheap!
“the biggest bubble known to mankind China”
Does this mean you are in FXP?
After you visit Disneyland, with the kids, of course, you will have a clearer idea of things to come. As a space alien magician, you have several “quasi-pseudo” time travel rides at your disposal, to clear your head, at least partially.
Bought MGM this morning at $9.07. Just nibbling.
http://www.youtube.com/watch?v=hHD1V051S2w
Have you got a cigarette for me, please?
fly is the best blogger out there.
Pity like all flies he too will get swatted…
don’t be such a dinkus and just worry about yourself, okay?
Is there an etf out there that is positively correlated to interest rates rather than the prices of the bonds themselves? Something that goes up when TLT goes down? The rubber band in bond prices is getting pretty stretched to the upside and I can’t find an “inverse” bond price etf. Don’t really want to short TLT. Maybe more accurate to say I can’t short TLT given that most of my capital is in qualified accts.
fid
TBF
Or TBT which is the 2X short.
or tmv for those of us with big balls and small brains
There is something peaceful knowing god is in control
Small g god?
the gods are in control. they threw your god down an elevator shaft.
nice call on uco, I picked some up at 8. 34, light snack though
Bobby boucher… Tmv is 3x inverse 30 yr. Tmf is 3x 30 yr bull. Tbt and tlt are 2x 20 year and are inversely related.
VXX is going to start trading options weekly tomorrow, I wonder if a lot of VXX’s strange moves is linked to that?….
link to this please?
I first saw it on Billy’s Vix and more blog today…But confirmed at CBOE, click the Tab on “Weeklys” http://www.cboe.com/micro/weeklys/introduction.aspx
The whole thesis on hedging with VXX is like placing a bucket next to your drunk passed out friend. For hours they’re laying there dead to the world, then the next thing you know a low monotone sound comes from their p.i.g. mouth and they decide to show you what inside-out pizza looks like. The VXX bucket is there to save your furniture AND MORE in that surprised instance of panic. Instant backwardation for you nerds.
lmao. Fantastic metaphor.
“The God Emperor’s Speech Writer”
(“Confuse ’em first, then RULE!”)
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Best headline of the day:
“Ronald McDonald House, NGOs Accused Of Plotting Vs Chavez”
Ronald McDonald gonna take Hugo DOWN!
I wonder if it means McDonalds is doing the plotting or the evil parents of the hospitalized kids who are the plotters.
Probably the cancer stricken kids and their parents hatching a plot.
Hugo has been seizing US company assets for a long time. From Oil rigs, Banks, to Hilton Hotels.
But only a fool messes with Ronald McDonald.
I’m using any bounce to start scaling out of stock positions, while adding to hedges. It’s going to be Fall-ugly.
Come to think of it, many a gentleman might do the same thing. The rally has a ceiling and it’s Dow 10,700. See you there, then I’m gone.
Good plan – tho maybe a bit optimistic. A lot selling will occur if we get to 10330 area.
Just curious as to why you don’t use VXZ instead of VXX for your hedge.
Trailing 1 month:
VXZ + 4.53%…..VXX -1.69%
2 months:
VXZ +5.29%…..VXX -17.99%
3 months:
VXZ -0.88%….VXX -29.80%
6 months:
VXZ +32.83%….VXX -13.25%
See a pattern here?
Thank you Alpha….you just did the work I was going to do After Hours on the two.
The Germans didn’t grab the VXX bucket on June 5, 1944 and look what happened.
If you compare the events that unfolded between April 16, 2010 and May 21, 2010 (approx. dates), you’ll see that VXZ returned +40% on the first surge and then peaked around +60% from its low. During that same time VXX returned +74% on its initial blitzkrieg, and then finished around +100%.
QED
No doubt, VXX has more volatility for trading, but more frustration if you’re holding it longer than a week.
VXZ volume is pathetic…otherwise good point…
Good job getting the Pet Insurance Reform Bill to pass in California. The object in my lap, which remains un-named, thanks you all.
Anyone see a short squeeze soon?
I’m afraid to ask but what was the pet insurance reform bill?
Just a regulatory framework for Pet Medical Insurance.
People in CA are not the sharpest tools in the shed. They’re just tools.
Pet Medical Insurance…..what’s next?…..doghouse mortgages?
I looked it up since it sounded like one of those goofy money wasting California bills.
It actually just requires pet insurance companies to better disclose terms like pre-existing,deductibles,etc.
LMAO. Does the second round of California IOU’s really surprise you?
Fucking hippies.
Just heard the chuckle heads on Fast Money say Natural Gas will fall now that the Hurricane season has passed.
Idiots.
The season will crank up now and through the end of September, peak and we will then get one or two Hurricanes and about 3 or 4 tropical storms in Oct.
Jesus is lord
Even as a big chunk of humanity is clueless, the trees of the field are clapping, while the rocks cry out in unison.
when is the debut of wall st.2
Late September, I believe. Just in time for the big rally.
if you want to call going from dow 5500 to 5600 a big rally may i suggest the inside out rally cap
24 September 2010 (USA)
TITN, my stock of the year pick, is looking nice lately.
TITN AZZ
(gotta diversify)
well,
most of you think all the money on the sidelines will be coming back.i got a little news for you..its leaving the corrupt gambling of wall street and moving right back into the poker tables and online sports betting..i remember when the fancy suits were crying how the gamblers were taking all the money from the street and even got congress to make it illegal to put money into an acct from the U.S. glad i have a nice acct where i play..now that the big players on wall street use robots to take your money ,why doesnt congress outlaw the use of them ,since they were so fuckn worried that poker players were cheating with bots and such ?.and congress sees the light on who is not exactly on the up & up..so i would expect to see mass middle finger waving shortly as the money hits the tables
http://theppa.org/category/newsletters/
Phil Helmann, is that you??
___
Errr… Helmuth?
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>now that the big players on wall street use robots to take your money ,why doesnt congress outlaw the >use of them ,since they were so fuckn worried that poker players were cheating with bots and such ?
Maybe because Wall Street contributes a lot more money to Congressional election campaigns than poker players do? We have the best Congress money can buy.
Arch, if I have two aces in the hole with a flush draw on the board and my oppenent to my left check raises me all in… What do I do?
depends on his stack size and what point of a tourney your in..if your holding the A of the suit that might flush