Yes, it’s as if I am living through the dot com era once again. Although the movements are not as violent, the pervasive moves higher in tech stocks reminds me of the days when I’d trade CSCO, at a time when it had a 500 billion dollar market cap. After all, it was the “new economy” with limitless ceilings. Here we are, 10 years later, and NFLX, AMZN, AAPL, CRM, FFIV, VMW, BIDU and let’s not forget everyone’s favorite burrito stock CMG are defying the basic laws of gravity. If you are trading momentum, inside of a bullshit 5 figure Zeeco account, you should have no problem getting out of these time bombs—when the collapse begins. However, if you are managing money, professionally, you are out of your fucking minds buying tech up here. Contrary to popular belief, NOTHING is guaranteed, not even from the Federal Reserve.
That’s the new bullshit, circling around town: The Fed has a put on the market.
I’d rather not discuss it.
This morning’s bad breadth market has improved, led by gains in tech. CRE and banks are still weak, so I am not too enthused. It’s one heck of a bull run and you are probably better off reading the missives of one of iBC’s more optimistic bloggers, providing you are into trading. “The Fly” has a line in the sand and will not cross it, no matter what.
I do like the action in TLT and it is very indicative of the true nature of this economy, much more so than the price to sales ratio of FFIV.
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First!
no one cares, fuck off.
lol
If this were an actual playground, I’d beat you to a pulp just for kicks.
You go Fuck yourself you Fucktard!
Stick your head up inside your own ass and let one RIP!!!
We have a food fight in aisle 1 … where’ Paul Blart when you need him !
Concur.
I had a 2000 flashback when I read CMG.
I thought it was CMGI for a brief moment.
Whatever happened to CMGI?
That:
BigCharts was unable to find a security, fund or index matching “cmgi”.
haha
Looks like a name change and the symbol is now MLNK.
Looks like a high in Dec. of about $1400.00 a share and now goes for $7.00.
http://finance.yahoo.com/echarts?s=MLNK+Interactive#chart1:symbol=mlnk;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
That would be a high in Dec. 1999 of $1400.00.
$ 1600
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=MLNK&sid=0&o_symb=MLNK&freq=2&time=20&x=37&y=12
Sold out of BIDU in my bullshit account on Friday thinking the 15% upside I had caught was pushing it already…
I can’t help but believe there will be a strong correction soon.
I’m putting all my money in Fusion!
Just wait until GOOG gets to 550. It is going to take off towards 700 like someone lit a fire under it. The inflation of NFLX is absolutely stupefying. I’m beginning to think we will go to 11,600 before we “correct” down to 11k. The price action is going full-retard.
GOOG’s fair value is $750, without putting Facebook in a face plant.
There is literally no stock for sale in any of these high betas. Just being walked up on the backs of the shorts. Good luck to these fucks when they all try to get out the same door.
I just dumped all of my money into TYH. Nothing but upside left in this market.
Join the winning team.
I am also a malcontent.
When you are euphoric, Fly’s stuff are great. It keeps you alert. Thanks Sir.
I wonder what the PPT scone now?
Blueberry
9….. ?
for clarification … that’s 9 scones
With Fly so bearish I assume it’s around 10 already 🙂
2.70 as of 3 p.m.
that’s privileged information
The Fly hates Scottish breads…
“That’s the new bullshit, circling around town: The Fed has a put on the market. ”
Please go into detail..
My free throw just went into the stands
FIGG(ekko).
Mr. Fly:
What do you think about shorting DIA for the next 3 weeks?
I just drank a K-cup laced with hydrogen cocaine
That shit will give you bad morning breadth…
Rot your teeth too.
It made me buy the entire float in one mouse click
Next interview after Prechter on CNBC: Danny DeVito.
Shouldn’t that be Stephen Colbert?
Will there be DOW 1000 beanies for sale in the IBC shop??
Either one.
DeVito is very smart when he is drunk and Colbert knows how to pack corn.
Today we have two extreme market predictions. One from Bloomberg saying Dow will hit 36000, another from Precther saying Dow will go to 1000! What kind of fu%^ed market is this?? Almost ready to through in the towel for good and buy some land to start a farm.
WTF
I like this
Dow will hit 5,000, but not before it prints an 11 or even a 12 handle.
Prechter’s waves make me drowsy.
Funny that Prechter’s EW is bearish while OEW is bullish looking for 15k before the bear comes out of hibernation … I’ll stay with OEW and keep my hedges.
Bring on Shia whatshisname. You cannot quit when on a roll like that.
This has been a stupid September rally, but…….
The M&A wheel of fortune is keeping people glued to their seats. Volume is absent due to all the playahs sitting on their hands sipping from cups of chicken noodle soup (if they can manage to do that) watching their bullshit online accounts blink like a Christmas tree.
This market is gonna get slap chopped
Really, I was just guessing.