My old man stocks are doing great: KMB, CHD and PEP. Everything else is in super-dive mode. Risk appetite is nil; but don’t let one bad day shake you out of everything. I am scrapping my earlier idea of starting a new position today, which, by the way, was PCS. I am getting fucking hammered in a number of my holdings. If it wasn’t for my 40% cash position, today would have been a death knell day with EXK, YELP (now all but sold out), JCP, CPST, MOS and RBCN hitting the bricks.
Thank god I sold out of CMI the other day. It is imperative that you cut losses quickly, especially in names that are sensitive to global “de-growth.”
All of the data coming through the pipe is pointing to global recession. If we were to price that in, without a doubt, the market would trade down to 10,000 and below. However, thanks to the Federal Reserve and their fucking printing presses, stocks have a bid. Make no mistake, without that bid, we are in fucking trouble.
In short, I am getting punched in the nuts, but only 60% as bad as the guy fully invested.
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Damn it! I want Horatio back.. black smoke, flags waving.. etc.
Yeah me too!
(does this count as talking to yourself? is this like posting to FB and liking your own status?)
<—- Guy pretty well fully invested.
Down around 1.6% on the day.
The day is young
Yeah, I’m hoping we close below the 50 so I can exit and don’t end up exiting when/if we gap down tomorrow below it. The other part of me hopes that we continue to be stupid and just rally back to green in the last 20 minutes.
The main problem here is: “hope.” It’s a system buy though, and I expected it to be a failed trade because it is the first signal after the last 30% run up. I just didn’t expect it the very next day.
Gosh, I just hate it when we’re on the same page…
Fly just read your “Frozen Stupid” post, what happened last night was that UK and Italy IP data came out and REALLY beat estimates, france missed. With that a HUGE short squeeze happened, heck our futures went from down 30 to up 30 on Dow uber fast. IMHO, just a annoying short squeeze which we have to deal with. This also dropped the 10 year Italian note which was back at 6% before IP data. Also, I was unclear on my post, the German Court only decides whether a Temp Injunction is granted this month, the Court Case on whether ESM is unconstitional hasn’t even started, that ruling should be 2013.
What’s your point?
She often has no point. It’s part of her charm.
often = never
Jenkins…Fly indicated that he didn’t know why Europe was acting so giddy in his earlier post. I was awake in the europe session so I just pointed out what I say…Bobby, lol, you know how much I love all of this….
saw…not say, I should proof read.
I quoted from a movie so I cannot take credit for it.
was it “A Few Good Men?”
If she had only been around in the year 2000. She would have the missing piece to her puzzle. Oh well, guess she will just need to wait this thing out and see how it all ends.
Her great grandchildren will be playing the market like a flute, with all the notes their long lost great grandmother left them in her estate… that and also some worthless FAZ stock certificates.
Bullish…My hope is that I learn to play the flute in my lifetime. I guess, if I ever have kids or adopt cuz there are way too many unwanted kids already in this world, their kids will just have to learn to work for a living.
oh and Bullish…lol, darn creative about the note comment..it didn’t come from a movie?
its on computer chips, oh and retail, and only greece….and spain….woops now italy…damn have we been here before?
I read somewhere that this summer isn’t like last summer and thinking so was stupid.
Call me stupid but this is so Summer 2011 action.
Try to see the TSX indices at the top of your screen and I don’t see it…
Weird, I think you should put it on, TSX, the stock index from one of the country that is doing “the less worst” in that crisis…
Nice sell off in Oil. Thank you Norway.
lol, you’re evil
lol, it’s fun to be bad.
RBCN catching a bid heya
Lots of bearish engulfing candlesticks in those names you mentioned. Not much time left in today’s session to turn them into hammers (no homo).
12545.00 here we cometh…
WMT – you will need lightbulbs and toilet paper no matter the global recession.
Patrick come lately got his ass burned on YELP.Stupid is what stupid does.I know when i check the novice trader box the other day,i was doing the right thing.