I will hold my positions until earnings. I don’t like to see my positions decline; but again, it’s part and parcel of this game. If I was a day trader, I would’t give a shit about the direction, only opportunities. I am not interested in inverse ETF’s or shorts. I am only interested in long plays, cash, and inflection points.
I want you to understand the big picture here. The market has doubled over the past 3 years. Over the last 2 weeks, we’ve retraced and scared people silly out of their stocks. Those same people will go short and then BAM!, the market will rip higher and never look back. I’ve been hearing you doom and gloomers predict “the end” since 2008, with zero success.
So, I will stick to my guns; you stick to yours. I am opened minded to switching my position. However, at the moment, I believe the fear is FUCKING UNWARRANTED, all because of a dicksucking +54k jobs number?! Are you fucking kidding me?
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To quote Le Fly:
http://www.youtube.com/watch?v=M5QGkOGZubQ
This bear market is just getting started, short until QE 3 (or whatever they’ll call the additional accommodation by the fed).
Only 1 time?
“The cost of inaction is too great”
The same goes for this time around. #housing #jobs #clam #weiner
I see 950
About 65% cash. Buying some stocks today for long term holding
Fly in classic Kübler-Ross Model mode.
I agree
Wow, that’s some serious Psych 101 deja vu. I’d rather remember my freshman-year girl-friend, however.
They were spectacular and 100% real.
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everyone is running around screaming “sky is falling”
I believe the end of the panic selling is close and is already reached.
there is a good chance we get a reversal starting now since
1 market is oversold.
2 smart shorts do not want to hold over the weekend.
3 most likely they will kill Ghadaffi over the weekend.
4 oil will drop 5 dollars a a result of 3
The only bad part about that jobs report was the people out of work for more than 27 weeks, which increased. That makes up 45% of unemployment.
That ugly data like people out of work 27+ weeks and distressed housing sales are lingering. We should tell them all to just pick one of the fucking occupations for which Discovery Channel has a show.
I still like the chemicals, train car builder(s), and athletic retailers.
My wildcard pick is the airlines. They have good seasonal data for July, their traffic numbers got a recent weak data point, and they seem oversold here. UAL and DAL are the most disciplined for Q3 domestic capacity. I’m going to look into them a little more and may take a shot at one today.
Unemployment does not matter much for the greater economy. Except it encourages politicians to fuck with shit. The bottom 10% are best left unemployed so far as productive employees goes. People are also working side jobs for cash and collecting their gov’t benefits. This is not to say some very good people are not in tragic circumstances. Some families are suffering horribly through this economic turmoil and I have sympathy for them. But that does not change the macro picture so much.
Full employment is a mandate for the Federal Reserve and unless you like riding around Libya in a fucking hot air balloon listening to Kenny Loggins, watch your purse.
Crack spread approaching 29, beetches.
Fuck it I’ve held out since my sales on the massive 3.31 PPT sell signal
I just bought some BAC, C and DDM.
Wow. The bearshitters are out in full force today. We must be getting ready to reverse.
Also bought some TDT.. as I think bonds are going to back up a smidgeon.
Crack spreads nearing 6% (28.71)
Rally has begun!!!
I’m not a money guy on Wall Street. I’m just a plebe trying to gain as much information from the brains on PPT for my investments. Those like me that are plying their trade daily in cube farms across the flyover states are mostly afraid. Because we don’t understand big banks and their corrupt machines. We don’t understand how we are supposed to “survive” a government that has no problem with debt that we will never have the ability to repay. We don’t understand how we can let the dollar simply be flushed into the toilet for the edification of Wall Street. I don’t understand a government that believes that our nation’s wealth is defined by how much the government spends. The government does not invest, they only steal. Seriously where are the jobs? My god that is a disaster. This “recovery” since ’08 has been a freaking joke. If it wasn’t for the Fed destroying the dollar I suppose none of the enrichment would have happened. The game feels rigged. It’s seems all government manipulated. So I just don’t play much anymore. I get scared out quickly. With a fiscal crisis as the tailwind it seems it requires quick “RC” type trading. That’s not for me. I’m not use used to not holding investments.
Afraid? Indeed.
Chris
You’re basically echoing how the rest of the country feels see the chart below.. The fed hasn’t really destroyed the Dollar. It’s on its lows. And the what the Fed did, it seems is avert deflationary tendencies and will continue doing so.
There’s no fucking free lunch, so the Fed is trying to inflate out because deflation would be a disaster if it took a grip. The fed is trying to target the nominal GDP rate of about 5% and upwards. They seem to have a decent handle on things so I don’t think you ought to worry too much.
It will get better.
As for the debt, one way or another it will get resolved and the likeliest way is for Obozo to get thrown out of office.
Chris,
“It all seems government manipulated…” Where have you been? Ever heard of an Ayn-Rand reading guy named Greenspan? There are answers to your questions. Seek and ye shall find.
For example:
Google the following: “Balance Sheet Recession.” That will help you wrap your head around a lot of what’s going on.
As for the dollar, well, might I remind you that it’s lows were in 2006 against a number of major currencies.
i dont know how you all think we ever had a recovery, were in a recession and have been since the first half of 07. and the only lie out there is that it was over in dec of 09………….. bernanke is just trying to stave off a real depression that would make the 29 crash look like a kids’ birthday party….. part time america WILL NOT WORK !
Fellow Sheeple Take a look at this fucking chart.
http://2.bp.blogspot.com/-9BaF_kkXg5I/TfEGR7xjfbI/AAAAAAAACkk/vzNWOoGG4xA/s1600/110609%2Bfamily%2Bincome.jpg
It measures people’s income exceptions only, that;s how they expect to be going forward.. The mood has swung so fucking negative in the US that it no longer matches reality. Incomes , I know it’s hard to believe, have risen a little in the US since the crisis yet people’s expectations are still at the lowest in 30 years that it will drop further.
This is an amazing departure from reality. It’s actually so fucking negative it hard to believe.
Hot damm, I’m up some money today too.
J your a fucking moron. Quit waving the stars and stripes so hard and take the rosy glasses off. USof A is so fucked. End of story. You are an idiot daydreamer. I shit on your opinions. Is that simple enough for you.
I’m pretty sure he’s an aussie so settle down big shot.
And it’s “you are.”
I am aware of the aussie connection. What has that got to do with anything? J kisses American ass. Always has(at least on this forum). Why??? I assume it is because of his limited I.Q.
America haters rule!!!!
Can’t forget our “Massive Chip On Their Shoulders” Euroweenie Visitors!
(Amazing how much they sound like our own Leftards)
Thanks for Visiting! 😉
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I concur.
with sask that is.
So, POMO schedule released at 2:00 and market jumps up from that point in time, of course there is absolutely no connection?
In reviewing it, POMO continues until early July but the levels are decreasing, less juice.
This market rallied on the treasury news, good place to add to shorts.
Correction:
The banks rallied on the Basel capital charge requirement news lifter the broader market.
Correction: I’ll think of another reason later.
I was right to add to my shorts.
…>>…the fear is FUCKING UNWARRANTED, all because of a dicksucking +54k jobs number?!<<
Dude, almost EVERY piece of recent U.S. macro data has sucked. You may as well write:
"The fear is FUCKING UNWARRANTED, all because of a dicksucking ECONOMY."
Now, does THAT statement make sense?
+54k jobs and 540,000 quit looking. Yeah, lets rally baby. Don’t that PPT tell yall when VXX is going to go up?
You bearshitters sheeple make my day. Where’s DD? $SPX to 125!!!
I am reknowned for financial advice and the Fly is obviously in need of it. He has run off the road. This market is out of steam and will remain moribound until a decent pullback sets it up for year end rally. Short any plus days – I am up nicely with TZA.
Furthermore, those rumblings are warnings of the BIG ONE. The finacial plates are slipping against one another and the Financial Richter Scale 10.0 is nigh. Be very afraid and protect yourselves.
Well technically, “the end” was in early March of 2009, so that 2008 prophecy was not far off.
On another note: We all chuckle at Fly’s hilarious posts about his taking vengeance, etc, but sometimes truth is stranger than fiction!
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Why is my comment awaiting moderation, Fleremy?
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^^^^^^^^^
(Like Ozzie Jay, it appears some Leftard has me on an “auto-thumbs down” program of his own clever devising!)
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Hahaha … not on this post, he must be toying with you.
remove McDonalds and thats 3 months of horrendous numbers though…
I added MS at $22 1/4 … looking for rotation into financials to get the next leg going … maybe tech too (???)
Let’s see if the SPX 1261 (+/-7) holds … if not, next pivot SPX 1249 (+/-7) will be tested but seems the entire investment community is holding out for 1250 so we probably don’t see it …
Added CENX yesterday at $14.35 … couldn’t resist the temptation as China will import aluminum to save energy.
Sometimes you take a step back so you can get ahead. A good serious solid correction can get us on stronger footing. We have not gone beyond that as yet. If this turns out to be a serious downturn, I will blame our current administration. They seem to have no problem being anti-business. Unrealistic regulation of banks– we need strong and profitable banks! Profligate spending, $Billions for phony farmers and various interest groups. Pro-union policies against Boeing and other manufacturers. Encouraging higher energy prices, opposing exploration and drilling, proposing new taxes and fees. It would be nice if they tried to help the economy rather than correct every perceived wrong for the last 250 years.
it’s the chicago way, steal money from everyone and their grandma’s and granpa’s, and then steal money from business’s to pay the bill that are months and years late……. all obama did before he got this job was sueing the american government for welfare slobs like acorn. he along with other chicago misfits couldnt run a hot dog cart, cause that money would be missing to…………
What else would you expect from Obama and all the other flaming retards and Weiners we have running this country who have NEVER HELD A REAL JOB IN THEIR COLLECTIVE LIVES.
Speaking of big banks, big corrupt politicians and the reasons for the shit-mire we’re currently swimming… This book is going to make Ott-Nott very very sad.
(And I don’t mean to single Otty out, but he was one of a couple of Dems here who derided the Fannie-Freddie-Comminity Reinvestment-MBS-nexus Explanation for the 2008 market meltdown, mostly because it pointed to some extremely powerful Dem Senators and Congresscritters (among them Dodd, Schumer, Barney Fwank) that formed the core of corruption between DC and Wall Street) who made a number of large banks very rich in the interests of “fairness.” There were others but I just can’t remember whom… LungSac, prolly.)
I expect in the next couple of weeks there will be a lot of Google hits on the name “James Johnson,” the man who promised, back In 1994, that Fannie was going to make an effort to place $1 Trillion in affordable housing over the next six years…
$1 trillion in “affordable” — meaning subsidized housing — how was that going to work exactly? If you guessed under the auspices of some extremely slick marketing and a very accomodating federal government (and regulatory regime), you’d be more than half way home…
And if you think this book is a pot-boiler written by Ann Coulter or worse… check this… it’s written by the Pulitzer Prize winning Asst Business Editor of The New York Times!
Bombshells!
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took a couple day break and then put more options plays on today. The kind that go up when EDZ goes down. same goes for BGZ