Quit talking; you’re making me sick. If any of you talking heads were within 30 yards of me, I’d have your mustache knocked off with an idle lamp post.
The market reversed today, off the lows. Under normal circumstances, I’d say we were heading higher for the next week or two. But, something is different this time. There’s some sort of dark cloud over the market, which isn’t going to disappear after one intra-day reversal.
The market needs a catalyst to jump. It needs Warren Buffett to step in and rip the throats out of the bears, via buying out [[C]], or something like that.
However, we all know, that’s crack pipe dreams.
Instead, we get to enjoy the constant and persistent cornering of the oil markets, at the hands of ‘sovereign wealth funds.’
Please, don’t tell me the 900 billion dollar Saudi Arabian ‘sovereign wealth fund’ isn’t buying massive quantities of crude futures. The oil bubble will pop, when those fuckers endure an $80 down day in crude. You’ll know oil is going lower, when the cameras shift to the crude traders in Dubai, showing despair— and men with their turbans in hand.
Until then, oil is going higher and there is nothing you or your stupid friends can do about it.
For the day, “The Fly” was flat, losing less than 0.3%. I had gains early; but they were stolen from me by asshole auto stock lovers.
All in all, the sentiment is still extraordinarily bearish. On any spike, get your list of stocks worth shorting ready for action.
With my money, I am ready to sell [[EWBC]] above $8, [[FMBI]] above $20 and [[TCB]] above $13.Comments »