Never count on the short sellers to do anything worthy. They were wrong going into the new year and now they are being stuffed into cannons and shot into walls made from pig shit. Everything they stand for, frankly, is pessimistic garbage. It’s because of them that so many investors become disillusioned and stray away from their core thesis. Many people profess to ignore CNBC, based upon the idea that they are irresponsible perma-bull journalists–which is mostly true. Nevertheless, come to think about it, ninety percent of the internet “journalists” are permanently hating. They hate on other bloggers, the world and most definitely stocks.
It’s almost as if these men are trying to fill a void by being right about something so wrong. Article after article, we read of stories that are bound to destroy western finance, bullet points for the next depression. These are sick people, who during another era would’ve been locked up in mental institutions, eating apple sauce and lettuce for dinner.
Towards the end of the day, I purchased NAV, for a trade.
Look, the market can be very unforgiving and sometimes it doesn’t seem worth the anguish. But if you’re not starting your own business, or sitting on a bunch of patents–suing the shit out of productive people– this is the only avenue for people to get rich. A middle class person has no other way to get rich. He must do it wisely and aggressively, betting on his disciplines and tools to get him there. Invest in your infrastructure and it will yield results. I promise you that.
So think about that the next time you wishcast for the market to dive to the 2009 lows.
http://www.youtube.com/watch?v=Z7919jk9wFU
If you enjoy the content at iBankCoin, please follow us on Twitter
Enjoying the market since 1997. 🙂
I made enough this week to do margaritas and benadryl tonight!
Last time for that was August.
In case you missed it, here was my New Year Market Rap:
New Year Cheer,
Roll with us you’ll prosper
On sunny days we fly…
With Big Ben in the chopper.
They signed a bad deal, our boys weren’t there,
We took a cut on the Street, it’s our new, new deal
We give the Christmas kids toys, we gave their family meals
Cajun – wine; Ragin’ – chess;
Honest advice, it’s good, maybe the best,
Sector plays, market wrap, red, yellow lights,
We learn from each other like the round table of knights
Market up, market down, there’s no room to wiggle,
You have to trust in the P-P-T hybrid score signal.
2013, Fly shares all he knows,
As a tweet rock star, he explains the algos.
This ain’t Mad Money, this ain’t Blue Star
Top hat style, in top clubs and dive bars.
NFL, NBA, we play till December,
Remember this site works best, when you pay as a member.
TLDR
Do the trade that makes you puke, whatever that is. Up down straddle whatever.
2009 lows? How pedestrian. Why not revisit the Dow’s 1937 double dip depression lows, whereupon in short order most city inhabitants will be competing with wild animals for the last remaining food scraps and the decapitated heads of all elected politicians will be mounted on bloody spikes at the city gates.. A boy can dream can’t he?
Don’t forget the skys of blue and red roses too.
Yeah, but didn’t the Brits (short sellers) get rescued. In any event here is another iBC contest to test one’s knowledge (yes, I have nothing else to do now).
-Name the Broker Fly used to deal with (think letter of alphabet).
-Who was the “keeper” of the iBC dictionary (think skateboarding)
-Fly kept (keeps) large quantities of this in a very large bowl (think stick to your ribs).
– What college did the iBC (and blogger) meteorologist and hurricane expert attend.
-Name the country where iBC was named best money blog for two years in a row.
BONUS
-Name the weird person who had horses, a trailer, lives out West and kept telling everyone to buy PALM and that it was going to $50. Choices: Applewood, Peachin, Blueberry Hill, Grapefruit King, or Peaches n’ Cream.
The short sellers are the French.
I am a French frog & I am long out the wazoo.
-Z
-Shawn White
– Caviar
-Chile
-Peaches n’ Cream
Close, but missed them all.
Sorry.
-Who was the “keeper” of the iBC dictionary (think skateboarding)
http://ibankcoin.com/spyder_crusher/ibankcoincom-dictionary/
-Name the country where iBC was named best money blog for two years in a row.
Canada
Read this classy article
http://m.theglobeandmail.com/globe-investor/investment-ideas/ibankcoin-notches-another-victory-in-money-blog-poll/article4195037/?service=mobile
Nice.
You got those both correct.
No Rap (rhyme) to this?
Some of the comments posted at ZH are outright moronic. They want to be cast down the chasm, and they think that by owning physical gold they will rule.
It’s entirely groupthink. If you disagree at all with whoever is writing the article, everyone says you’re a troll.
It’s like the Law of Conformity. The less you try to conform, the more that you actually do conform, just to a different group. Zero Hedge is like the goth kids in high school.
French shorts were frenched, then became sellers.
To reiterate, because it is important, the three ways to gain wealth:
a) go into business for yourself
b) be a professional & the best in your field
c) have good investments
You have a point, Fly, about the Internet collecting a large number of depressed people.
There are many different reasons different people have to be on the Internet. One of those reasons is because one is a depressed troll type person, who ought to be on prozac but you don’t want to take it. Trolls can not produce or create anything. So they try to destroy other people 7 things.
Sometimes trolls somehow start their own web site– like Zero Ledge, so they can put down other people, & also institutions like the Bernanke, 24/7.
trolls
Frog will never get the joke, Senor Fly. Hilarious.
Just wait until the newly-taxed paychecks hit the streets.
Yep, our school district came out with the new taxe deductions for 2013 and it’s a decent ouch for me. However, I’ll be the first to admit I’ve never complained about paying my taxes, because I thought I was getting a fair deal. Now, I do have an issue with how high my property taxes are but I can afford to pay my taxes and will continue to do so without much griping.
But I digress. I guess Keith McCullough’s long-short ratio strategy was the right call, and you didn’t sell either, right Fly? I didn’t sell either today.
you must’ve been that size that was stepping.
$MRVL is looking at a Billion dollar settlement pay out….ouch
And Pass
$NAV and the rest are still struggling with exp of emmisions on engines
Trailers in the Industry will have to be replaced as well $WNC on a pullback, other MFG’s out there.
Super Singles (tires) are gaining popularity with less drag/resistance, few makers so far Michelin being the leader
Well said.
So is the point is to ignore the highest ever OB signal in PPT history? (to only use OS signals?)
I’ve always been clear when saying the OS signals are far more accurate.
It’s hard to believe this money printing will work in the longer run. History has shown us it fails every time. The timing of it is anyone’s guess.
Short sellers create liquidity for the market so I have no problem with them. I have gotten more long in the past year but I am starting to question where we go from here.
If the 10 year gets above 2.5% be very afraid.
At Dunkirk some 350,000 British troops were saved and escaped certain death at the hands of the Nazi’s. I don’t see any relief for the shorts until late next month.
Almost half were french soldiers
Dude you bought all your Japanese stocks at the top, including that dying company SNE. I actually thought SNE would have been a good buy but when I noticed it wasn’t moving when Japan was going up 3% every day, I knew it was a dog with fleas. But I still think we’re gonna have a bloodbath soon even in January. That I agree with you.
But I’m up 9% in hmc, so how was that buying the top?
NAV play looks good technically. It’s a contrast from your other picks in that’s it not chasing momentum and higher highs. But I have no idea about NAV fundamentals so can’t just look at a chart and say “buy”. But in that respect I would take a look at QLGC maybe even DECK. In both chart and company internals, I think have a lot for going for them
I keep selling into this rally and am now sitting at 40% cash and 4% TZA.
I’m starting to feel like a Dumbshit as I was a bit too early at selling and now I am missing out on bigger gains. Last year stocks continued going up in the new year until April before any significant pullback. Can it happen again?
I fucking doubt it!
Starting next week the employed are going to realize that their paychecks are smaller than they were just last week.
Alcoa kicks off earnings season on January 8, 2013. What is the possibility that companies are going to kick the shit out of earnings or guidance?
In a few weeks the debt ceiling will have to be addressed.
When the debt ceiling gets resolved there’s a good chance that the U.S. may have its credit rating dropped.
I was still up .43% today, not terrible considering my cash position.
I hope we get a meaningful pullback in the next few weeks.
They will squeeze all the shorts and naysayers and make them convert to long positions first before taking the market down. Happens every time. Wait till everyone is all in. VIX will make new all time lows. Couple more weeks perhaps after AAPL earnings
been waiting to hear this and you have now said it.
I think the “Trillion Dollar Coin” is a way for the average person to understand what the Fed has effectively been doing with QE.
That is, the QE funds that are essentially remaining locked in the banking system, so far.
From the close on Friday December 28, 2012 to the close on Friday January 4, 2013, the S & P (SPY) was up 4.5%! If SPY was all you held you would have been up an astounding 4.5% in one week without the risk of any one stock blowing up your portfolio!
If any of you substantially beat 4.5% in one week, congratulations!
VIX lost 39% this week, all time record…..
amazing
France is strong in large part because of their extensive use of nuclear power, which is the most inexpensive power source on a large scale. It allows for much socialism.
In case anyone has not read about the platinum trillion dollar coin yet:
http://wallstreetexaminer.com/2013/01/04/paul-krugman-goes-platinum-new-economic-perspectives/
Krugman seems to think we can just do any fuckin’ thing.
And why not?
MORE Federal Debt is better!
What the dimwitted Tea Partiers and Republicans don’t understand is that
in these times of super-low interest rates, a HIGHER Federal debt is better!
If we could borrow $15 trillion more, half for five years at 1% and half for
ten years at 2%, the additional annual interest would be only $225 billion.
We could use this money to set up three $5 trillion Trust Funds:
Health Care, Infrastructure, and Debt Retirement. Since we would have no immediate need for these monies, they could be put in a broad Index Fund
composed of the top 15,000 USA companies. Each of these funds would earn close to 2% dividend returns, and with the buying pressure of purchases of stocks by the funds, run the stocks up greatly in price. Profit for ALL!
But the big benefit would come down the road: With the inevitable return of inflation, over ten years the true value of $31 trillion of debt would be over 30% less. We could buy the debt back cheaply.
It is fatuous and WRONG to think a high Federal debt is bad!
Your boy thinks it’s wrong:
http://youtu.be/1kuTG19Cu_Q
Its VERY patriotic to add to the national debt NOW, when rates are at 1% 5 years and under 2% 10 years.
In fact only unpatriotic and ignorant nutcases would not make our debt as high as possible.
Own some land.
Have seeds to plant on that land.
Reap what you sow.
Maybe those wishing for a 2009-esque dive are only regretting that they missed the epic runup since then and are desperate for a second chance to profit from post-crash recovery. So they try to “will it” into existence. But maybe those opportunities are a lot more rare than they think and it’s time to just let it go.