I’m going to put aside my bias, since that is redundant and boring, and throw out a few names that are worth looking at.
Tech stocks are now being viewed as “imminent m&a” targets. The deal flow is plentiful and investors are positioning for more deals. Some potential take over plays, in the tech space, include: VCLK, ARMH, ATHR, CRNT, ADTN, CY, CRUS, MRVL, RAX etc. Frankly, there are a lot of names out there being talked about as takeover plays. Recently, my interests have been in the “rare earth” space, thanks to “The Devil.” As you know, this is an industry that is dominated by China. However, there are a few names that trade here, specifically MCP, REE, both worth a look.
Regardless of the market strength, I do not like the banks. I do not like how they are trading and definitely do not like their business models. So, forget about them.
If you need to be long, the industrials, chemicals and commodities are where it’s at. I am talking EMN, IR, MT, FCX, EMR, MTW (interesting and cheap) etc. The big cap, big business, multi-national names is where value can be found, as well as growth. Ideally, I’d like to buy these names on a pullback. I even went through the trouble of creating a Growth at a Reasonable Price (GARP) portfolio, inside The PPT. However, due to this gorilla run, I’ve been unable to allocate funds. I am stubborn like that.
All in all, today’s a big day, with near perfect breadth. Typically, the market is sort of boring from 10am-3pm, as the robots take siestas during those hours. So, if we are going to see a push higher from here, it will happen in the last hour of trade. In my opinion, if you missed this move, it’s sort of too late and pre-mature (if that makes any sense) to buy now. You are much better off stepping in around 2-3pm, if you are dying to get in.
If you enjoy the content at iBankCoin, please follow us on Twitter
Again?
FIC
(Fly is capitulating)
Not changing at all. I am just being objective. Take it or leave it. I imagine it gets boring for you clam fuckers to hear me say the same shit.
Thanks for the clarification, sir. It must be frustrating to have both longs and a short bias to go with it that is limiting your gains.
Still 50% cash?
Cash is 35%. I bought a lot of TLT yest.
Thank you for your objectivity!
This market can stay irrational longer than you can stay solvent.
I love Molly CRUS and have all of her albums, even those cut under her Hannah MONtana stage name.
__________
Short possible GG,NEM,ABX,GDX
Don’t forget AEM.
I happen to agree w. this… we are feathering $1300, but it seems reluctant to jump that shark today… and with the dollar down 60 cent, that’s odd.
_______
Scratch that… dollar down 70 cent right now.
______
Obama hates dollars.
Devalue the dollar to contract the trade deficit, but purchase Treasuries to assuage the foreign bond holders! Too bad today would be a lose-lose for them.
….and banks.
Rather, “Obama doesn’t know from dollars.”
There’s the rub — we’ve assembled the greatest passel of economic cluetards in our nation’s history in the current Executive branch.
Stone hard clueless, and now the only guy with a quarter (not half) a clue — Larry Summers — is “titz-or-GTFO” and refusing to show his manboobs.
___________
AEM is one of the best performing ,majors in the last week (as you know) so this a crap daytrade short as opposed to something like GG which has been one of the weaker majors.
Cramer was right!
Interesting statement, especially paired with your handle.
Well played.
Why do I think the handle was misspelled and should have read, enema. Always before, during and after Cramer.
Cramer wouldn’t be so bad if his schtick wasn’t so awful. Like nails on a chalkboard. Nothing on TV worth putting any value on with regard to financial matters.
For breakfast, 2 fingers of scotch and a davidoff, what time is it? Bought plenty of UCO this morning, starting to prepare for a push to $80 Oil. Still holding FAZ, avg 13.63
I will remember this saying this morning. ” You don’t want to be laying out in the in the tall grass when the lyons awaken” Go out with the pack, or be eatin. Anyone feeling that today.
Well this sort of ruined “The Plan”…
I figured we would have sold off somewhat while the Chinese were basking in Moon Cakes, only to return and go on a buying frenzy….any chance they will come back…vomit lotus cream and SELL this …’vision”??
any takers?
Who knows what a rally like this on a Friday might lead to. Just going with what is, and along for the ride until signs point otherwise.
We shouldn’t forget that this is purely a chart chomping, technical rally, since the fundamentals now and going forward, suck.
yes Jake…. that is what I meant, CMI doing well since Fly recommended it, almost a double.
and yes DMG your HAL is doing well (if you bought it around 22.00-25.00 when it dropped during the beginning of the BP oil rig fire)
Your news reporting is spot-on.
Your predictive powers are Biden-like.
Monocrat….
How many one arm push ups can you do?
I just did five, with my eyes closed.
From the effort?
______
Speaking of push-ups, ANV is a jug-eared monster with very very large biceps.
__________
Push-ups?? What the fuck are you talking about? The V.King would have to do 250 for any kind of pump…and 1 arm are for retards…why not balance a ball on your nose. How about how many 135dumbell flys can I do? Or how many 45lbs dips to china do I do on tri’s day….Or how many shares of IOC shares did I just sell…push-ups?
V.King learn it, live it, love it!
135 dumbell flys? What kinda roids are you taking?
Flys or presses? If you can do Fly’s at 135’s, you are a chesty SOB.
“.. retards.”
I think you mean “Intellectually disabled.”
How about those Yankees losing to a .238 team batting average like the Rays?.
And then hitting 3 batters in a row to tie a major league record
And then Girarardi pulls his starters for fear of retaliation the next up at bat.
Casey and Yogi would never have done that
They have been quite intellectually disabled lately, no?
_________
You’re too dumb..3 hit batters…dummy they were all breaking balls…trust me he wasn’t trying to send a message just had no control. You are the dictard…
Yankees suck, in an intellectually disabled sort of way.
What’s wrong with push ups, dude? Didn’t your drill sgt. put you through all the benefits of maintaining proficiency in one of the most foundational exercises for your upper bod?
Or, are you one of those gimicky gizmo exercise equipment girly men? What happens when the world breaks down and your barbells and exercise equipment are laying in a pool of molten metal?
Drop and give me 20, grunt! Do some functional exercises! How often are you going to get the opportunity to bench press a piano off your chest?
FIG-a-licious.
The banks are terrible. With horrid business models.
“Bulls make money…Bears make money…Pigs are too big to fail.”
Excellent observation. Sad but profoundly true it seems. Except for less well-connected pigs like Lehman.
Dow 36000 – TODAY.
Lol. Overdosing on your viagra again?
I have to learn to stop taking my meds in the dark. Plus, when Morpheus asked “red or blue pill”, I took four of the blue ones.
That was sixteen years ago.
Hey now!
Va Ukraynska!
Folks are jumping on the bandwagon tht the market is forecasting surprisingly good earnings reports coming in October, no?
This is a scary market for the bears since the bullish mentality is feeding on itself, and a lot of high flyers still have high short interest.
KLAC is a good daytrade chip maker short along with some of the gold stocks.
Gold stocks really sucking wind with lowere $$.
Not a good sign for them.
They are in the stratosphere, where there is not much oxygen.
_______
Some of the majors have not hit highs while gold has day after day.
Old man Joseph Granville used to call this some kind of divergence on the golds (I forgot the name).
He blew th bull market of the ’85-2000 but he knew his golds.
Yeah, this usually indicateds the move is done for now, unless there’s something of a catchup.
______
Who is The Devil? JakeGint?
What did I miss?
I’m guessing it’s a big client of Chuck Bennett’s. One that’s probably forked him on some positions in the past but still “knows things.” That or he smokes a crooked cigar.
Mysterious friend of Fly’s and Chuck’s.
Not me, ah.
________
China is the Devil, hoarding the “rare earth metarrs”
Dat is a inhelentry lacist imprecation!
Fo’ Shame on yoo!
________
I feel like I’m parachuting with one of my short positions right now. I hope to get close enough to the ground at some point, to cut the strings, but not fall far enough, that I damage myself to bad. Rather than staying onboard and drifting over to the powerlines and getting fried.
The MONEY NEVER SLEEPS Rally.
Back in Qid at 14.40. I don’t see the possibility of a breakout, with us at the doorstep of an explosive dollar rally.
“The Dollar Rally That Never Came”
I’ve ordered it for your tombstone — do you want one angel or two?
________
jake, The israeli/russian mob complex is tightening the nosse on Iran. That is hardly dollar bearish, when they kick off WW3.
http://rt.com/Politics/2010-09-24/us-iran-missiles-war.html
http://en.wiktionary.org/wiki/nosse
typo. Meant to say Noose. But, “tightening the nosse” actually seems more appropriate.
LOL.
I wouldn’t worry about a dollar rally because of Iran’s tight testicles.
______
I’m not ready to abandon ship yet. I will shit a brick if we close say over 1150 today or any day soon.
Getting ready for a delightful assortment of dojis and spinning tops next week.
You know to some degree depending on which currency you choose like the Aussie for instance. This move in US stocks in Aussie dollar terms is very small.
We have a tightening central bank here and it makes dollar assets cheap and getting cheaper by the day.
F*ck this. I just placed buy market orders on AAPL, AMZN, NFLX, CRM, and BIDU. Seriously. F*ck it. Why can’t I participate in the mania too?
not that you can’t, its that you know better.
I sold short 1k of NFLX @165.70. Will see who wins…
I will win. Bernanke will make sure of it. Bernanke is god, he will make all stocks go up.
I do not think so but good luck. I usually never loose my bets.
The devil is the devil.
thats all you need to know.
regards
chuck.
ps. the devil sold 75% of his MCP @ 28.25-28.40. he always knows, and will be back in soon.
should one hold a bazooka aimed at my person and demand purchase of stocks here and now, I will refuse
We have China news coming out next week too…
Tuesday 10:30pm CNY HSBC Manufacturing PMI
Thursday 9:00pm CNY Manufacturing PMI
Please ring the bell when the last short has covered or person has gone long.
Shouldn’t be too long to hear the ringing-a cowbell would be okay.
Went out with a hedge fund buddy the other night and one comment he made stuck me.
He asked what was conventional wisdom at the moment. He answered himself that conventional wisdom was that the US economy is fucked and won’t come back for a long time.
Interesting, now find out how the conventional wisdom is wrong. That is the next step. The conventional wisdom must be wrong.
Hey Chuck,
How about the V.King vs Devil battles? The Reckoning of Hell lV is coming…10…10…10
V.King
New Post in King of PG – http://ibankcoin.com/king_of_the_pg/2010/09/24/reality-check/
Haha.. yes, I remember that.
He has done a number on you a few times. I will not go into your pains.
However I do remember one time when you did get him. You iswied him rather nicely. It took him alittle time to get back his strength I must admit.
You need to get him 3 more times to break even. Then again, he killed pete, so you need to pull somthing off huge.
keep it going.
regards
chuck
It’s not easy beating the Devil…I got something up my “sleeve” though….
The V.King…. Join the winning team
Is whated?
_____
You had to have been there…Don’t worry Mr. Gint that fucking Devil killed my goat, and for that he will pay….
Fly do we avg down in TZA or hold the line. my cost TZA is 31.70
TZA @ 31.70 800 shares.
Ha!
Dictard…Nov 3rd @23.40
thanks for the advice.
i would try to avg down, as $TZA at these level is close to 52 wk low
52 week low for 3x leveraged ETF is just a number…. In case you are not aware – this is not a stock at all, but basket of swaps, which is balanced daily. The structure of these is a “black box”, very hard to be explained and understand. The decay it causes is quiet dramatic due to rebalancing.
Indued…hence why most of the people who read this blog should be beaten with live flounders…
PPV event in the works?
Dr. Fly,
What a great day on the markets!
The sky is clear and closing above 1150 will open door to a muli-year bull market in my book.
Goos day to you.
Everyone seems skeptical and negative these days. Practically every financial blog I read says the same things–economy is f*cked, stocks are set to fall, double-dip recession, cash is king, etc. etc. etc. Never have I seen so much negativity in the face of such a resilient market. Makes me think we will continue to climb the “Wall of Worry” and go higher…at least until some of the hugely negative bias gets washed out.
I am not negative or sceptical, but again I am not looking for being right…
I always look for one thing in stock market, one thing only – making $$.
2008 came and went away, anomalies happen…
It’s a bull market, you know.
that book was like alright.
I agree. Too many people are negative. The perfect contrarian indicator. Maybe any sell of happens in October, but by then how much higher will we be? and what if we have a 10% correction? Maybe by that time after this rally, we are at the levels we are today? That does not help the bears at all, it just gets them to breakeven, after shitting some bricks, if they were still holding their shorts. The market is now long biased since March 2009 whether we like or not. Unless we have another 2007/2008 financial crisis, if you go short the market, you better be precise, like a surgeon, or else you will be shaken out. The Government will do whatever it takes to prevent another financial crisis. Maybe we cannot avert another one, but the Government may have pushed it off 1-2 years into the future. By then, they would have destroyed the bears.
yea,and when china decides to bend us over for a bunch of sessions cause were buggin em about their currency. those cockbites have this country, and others in the palm of their hands.unless someone can convince me otherwise.
I just initiated some short positions up here, at the start of lunch.
if we lose confidence into the close today, monday will almost surely be red in my professional opinion.
I might however jus end up closing this shit out before end of day, due to traders being tired and just bidding it up for close at highs.
Dude is at the movies. Review in an hour or two.
The Market Is Never Going Down……..Just Get Used To It!
we just need a few more people saying shit like that, and it will surely fall.
POMO was today….next one is Tuesday but that is only on TIPs….
Anyone with the Balls to load up on more TZA today?
Unfortunatelly… having balls doesn’t mean having brains…
I am sure some will… there is a buyer for every seller.
I think youd be better off in TYP. Tech and Biotech is completely parabolic., whereas Smallcaps have alot of support at yesterday’s lows.
Hey Fake Bullish… CHANGE YOUR NAME!!!!!!!!!!
As angry as you make me using my name… I do actually agree with almost everything you’ve said!
i hate that shit.fucking name thieves. i got 2 mother fuckers trying to use my company name right now after i have had it for a long time.what i dont get,is,that these people never heard of laws. assholes
But what if they’re last name is MacDonald too? No fair.
tough,i was the first to put it in print and advertise it.
Unless you are a gambler. I think we can make a run for 700 on the Russell 2000 before any meaningful pullback, You are now contending with mutual fund managers trying to keep up with this impressive Sept. rally, the best since 1954. We melt up until quarter end, whether we like or not. Maybe like past quarter ends, we start selling off 3 weeks or so after the quarter end. Bears have another 3-4 weeks of pain.
We Don’t Need No Stink’n Pullbacks! None!
One fudge fund guy made appearance on CNBC, being fundamentally incorrect about QE, and EXPECTING real economy to improve (how will that happen in this macro environment?), and this was the cause for the rally?? You’re must be fucking kidding me!!
Disclosure: am mad not because of losing in VXX (that’s all right, insurance should be loss-making by definition), but ’cause I can’t find a decent explanation of what the fuck is going on here.
Shorts shitting the bed.
Nope. Just searching for knowledge here.
PS. My threshold is -30% and I’m far away from that.
This incident proves the folly of trying to find out “a good reason” why you should buy or sell a given stock. If you wait until you have the reason given you, you will have missed the opportunity of having acted at the proper time! The only reason an investor or speculator should ever want to have pointed out to him is the action of the market itself. Whenever the market does not act right or in the way it should — that is reason enough for you to change your opinion and change it immediately. Remember: there is always a reason for a stock acting the way it does. But also remember: the chances are that you will not become acquainted with that reason until some time in the future, when it is too late to act on it profitably.
J.Livermore
Partridge, I am aware of this quote of Mr. Livermore. Totally agree, but shouldn’t we have figured out the reasons by now? This rally is, what, three weeks by now? And I only have VXX mixed with cash, so I didn’t intend to participate in bull’s run or bear’s feast anyway. I don’t need THE reason, but a RATIONAL explanation would be very much appreciated.
End of Quarter, pal
I have been where you are more times than I want to remember.
That is why I say to you: stop looking for reasons, markets are not rational.
Try to except it…. do not assume to know what is coming next simply because
of some logical explanation you have.
I have been in this business for very long time to know – anything can happen, but I will never try to argue with Mr. Market.
There is only one rational thing you can do to be successful in trading – establish current trend and ride it, until it ends.
Everyone keeps forgetting in moments like this when things make no sense, that this market is manipulated. Period. So you better be on the right side of the trade, end of story. And the story is that the market now has a long bias. The Gov’t will make it so.
Bought 2k of FAZ @13.05. God help….
18K more
Shit its about time you put your wrong side of the trade biased aside. haha
Le Fly = Getting Smoked Hardcore. Told you to buy RIMM and get the FUCK out of TZA/VXX which is the equivalent of betting center field in a game of craps. Read and learn from the truth lest you get dealt…
dear buyers : go fuck a cat.
that is all,
good day.
If he can be Bullish so can i
Sorry you can NOT be “Bullish”, now do yourself a favor and change your name.
You are confusing all my many fans here on iBC (hold the applause).
If the Fly wasn’t at the movie theater right now you’d already been banned for breaking rule 156489 which states – Under no circumstances shall a fellow iBCer use another’s moniker”
Forgive him, he misspelled his moniker. Should be “Bullshittish”.
Fan.
should have said doniker.roflmao
To clarify I am the Original Bullish, therefore Bullish #1
just add an S … Bullissh
Just make sure to clean up after yourselves, because with both of you roaming around something sure stinks…
Market is up on news that Japan releases Chinese boat captain….:)
market up on lindsey lohan jail sentence.
Hahhaahaha. My turn. Market is up because of WS2. And because I had a pint at lunch. And because Texas wants Islam in a more realistic light in text books.
So basically the market has been ripping higher because the Fed has said they will step in if things falter? Well it has to falter before they will step in.. if it keeps ripping higher won’t the Fed not step in??
I’m just a noob trying to find some cents(sic) in a senseless market.
How many months does it take for FED money to hit main street. 3 months min.
hey needle,as long as it took them to tell us,”sorry laughing”,that the recession ended in april of 09.
Not true. The can funnel money through big banks into the stock market with expedience.
You’re lucky to find a 10 yr corporate bond for over 3.5%, CDs…forget about it pal…If you live on income from your savings,where you gonna go?…Risk has systematically been removed from the banks (0% borrowing) over to Claude and Edith.
Don’t look now but AAPL is hitting LOD
Just in case anyone likes to review history, let’s go back just one month ago when all the bearshitters were running for the hills (for your reading pleasure) – Now you know why I am the only “Bullish”
Bullish says:
August 31, 2010 at 9:59 pm
Futures look interesting…
All the double dippers please report to your bunker. You can reemerge later this month when called upon.
Cue the bullish cast for CNBC’s guest lineup.
Bravo! On the movie.
Reply
Demi says:
August 31, 2010 at 10:09 pm
the earlier the move in futures, the less reliable ( the more time it has to fade )
you should know by now .
Reply
Bullish says:
August 31, 2010 at 10:12 pm
They will coin it “The September Surge”
Just when you think you’ve figured it out… Bamm something new
Reply
Mr. President says:
September 1, 2010 at 8:51 am
Oh yeah, Dow futures up 100, I can see how that makes sense.
In fact, I was being facetious. I cannot see how that makes sense.
(Wordplay)
Reply
Bullish says:
September 1, 2010 at 10:09 am
Dow up 225 now. The SEPTEMBER SURGE is on!
Only 1,250 points to drop till you’re 9k call is correct
Reply
Mr. President says:
September 1, 2010 at 10:29 am
It will happen.
Reply
Mr. President says:
September 1, 2010 at 10:35 am
Be bullish if you have a legit reason to be bullish, but a “rally for no reason” does not justify a bullish view.
Who gives a Fuck Really?
Obviously not you.
Why is my latest post “awaiting moderation”?
Probably had some trigger word in there that Jeremy has an auto-ban on. No big, just send him an email and he’ll clear it.
_____
I have been reading the bloggers on this for over a year now. After countless f-bombs, s-bombs, and bombs I never knew existed until I got here, I can’t help but wonder what word would have a trigger on it.
Looks like Fly snook over to “The Town” feature after WS2.
There’s no tellin’ the why of this melt up. Financial journalists always give a bullshit reason for market moves. In truth, nobody knows why. There are thousands of influences that blend in some unknown formula. It’s like trying to understand God. Everybody has their own understanding and there’s no ‘splainin’ it.
Why?
The “Market Makers” or “Market Manipulators” want stocks to go higher, when they want stocks lower, stocks will fall and decline!
Just picked up TZA for 26.85. Here’s hoping!
POMO
Did CNBC just recco a penny stock?? WTH???
TZA getting treated like Shia LaBeouf on his first day in SuperMax prison.
_________
Exited Qid flat. staying 25% allocated in DXD from today.
i want to short VERY heavily here. But, the best policy in this market is, never allocate more than 1/3rd to swings. You need to daytrade heavily. Too much overnight surprise potential.
the dollar going down for a bit (ie QE2 in action) is not bad news. Its great for makers and exporters. shit for consumers. but who’s rooting for walmart? so you’re chinese made t-shirt gonna cost more? so that plasma teve is too expensive for you now? joke aside, tomatoes won’t be priced at $100 next year. there’s no $500 sammich coming your way.
USD in the shitter won’t stay there for long anyhow. as soon as things are back on tracks it will re-value itself. because money (trade deficit) will have its flow. it NEEDS to reverse its flow. items out, money in.
waiting for the chinese to collaborate is futile. expecting the unions to collaborate is futile.
USA is nothing like japan. no need to mention Zimbabwe.
that’s all i had to say.
You are right. It is nothing like those countries. In much of America there is a sense of entitlement. I want lots of money for very little effort. Why do you think illegal Mexicans do all the farm jobs? And now you think typical Americans will work in T-shirt factories without affecting prices? American labour costs are clearly far above the developing world.
Don’t get me wrong, I think re-industrializing America via currency wars isn’t a terrible idea. It will just be a painful one. One which I hope involves a lot of new technologies and approaches.