It’s hard for me to explain today’s market action, since reason is absent from the pastiche. Maybe everyone is just reading charts and shit, saying: “yeah, look at that line Bob. Do you see that line and dot? Ooh, that looks sweet. I’m gonna buy right now.” Bob replies: “But Hank, what about Wamu’s ridiculous numbers or Alcoa’s swing and a miss”?
Finally, Hank adds: “fuck the numbers Bob. Look at those lines. Buy the lines, not the economy, goatfucker.”
In my head, that’s how two jackasses on the NYSE make financial decisions.
Enough of what I think. What is happening, whether you like it or not, bulls are throwing pies at the bears’ faces, then making a quick getaway on their tricycles.
During today’s session, there are all sorts of asshole dip buyers, out and about, going long everything, particularly “ag plays.” After all, there are plenty of hungry mouths to feed in China.[[MVIS]] is pressing higher and actually looks good. I own a small piece, but nothing meaningful. In my opinion, the best time to buy the stock will be in September, 2008.
Finally, the IMF’s decision to sell gold should be ignored. They have no fucking idea where gold is heading. They’re just a bunch of bureaucrats. On today’s dip, I like [[DGP]].
UPDATE: Remix![youtube:http://www.youtube.com/watch?v=hd-GNR0U7rQ 450 300] Comments »