Here Comes the Homo-Hammerby The Fly on January 23rd, 2008 at 8:06 am |
No fucking way we escape the “homo-hammer” today. Frankly, if we’re not down 3%+ today, I will be appalled.
However, since the market is down, it is possible “helicopter Ben” will swing by for another 25 bps cut or two.
Seriously, if you’re bottom fishing in this tape, you need to have your head examined. Perhaps you’d be safer eating breakfast at your local mental institution, than at work—buying stocks.
Just a thought.
Real quick, I will sell short more (DECK: 113.69 +0.65%), while bulking up on (SKF: 116.69 -0.05%).
Also, considering the consumer made a comeback yesterday, I want to sell her short, via (SCC: 87.846 +1.79%).
Essentially, the game plan is to prepare for sudden death in the market today.
Developing…
UPDATE: I’m also buying (REW: 62.30 +4.32%), on that (AAPL: 169.53 -2.42%) mess.
My baby KBH is finally coming home. Thank you Bernie.
January 23rd, 2008 at 8:11 amThanks for the SCC. I was just scanning ETFs looking for a way to short retail/consumer after yesterday’s ‘rebound.’
January 23rd, 2008 at 8:14 amThose goddamn bond traders are undoing my rate cut! I’m gonna have to fire up my whirly-bird for another drop.
January 23rd, 2008 at 8:16 amThe “homo-hammer†swings both ways. Be careful with your inverse ETFs or you may be its next victim.
January 23rd, 2008 at 8:18 amHoly Helium, Batman. The Illuminati does not want this market down.
January 23rd, 2008 at 8:18 amSKF is looking ripe for the picking here. There is no reason for the financials to rally for a couple of months.
I just entered some cmo.
January 23rd, 2008 at 8:20 amHmm. When will the folks buying FXP at 107 panic out?
January 23rd, 2008 at 8:22 amWhen they stop snortin’ the CRANK, man!
January 23rd, 2008 at 8:23 amWow. The buying won’t stop! Just wow. What is going on? It’s unnatural if you asked me.
January 23rd, 2008 at 8:24 amHmmmm… “homo hammer?”
“Batman?”
Is there a Heath Ledger theme running through the forum today?
January 23rd, 2008 at 8:24 amWe were a bit stretched oversold Pros. Due for some kind of liquidity rally here.
January 23rd, 2008 at 8:25 amI went from 133% short to 3% short and 28% long in a day and a half. How the fuck did that happen?
January 23rd, 2008 at 8:26 amIf the Yen weakens today the market will continue rallying. A major factor in the weak open was the rise in the Yen overnight.
January 23rd, 2008 at 8:33 amwhat is a good exit on dig DUG?
I’m thinking of going from all short to cash for a nice weekly return.
I learned with MVIS - take the $
January 23rd, 2008 at 8:35 amI would be surprised if we don’t get up 2% or more on SMH in afternoon before a possible selloff.
January 23rd, 2008 at 8:49 amI think after the wiseguys are done buying financials, retails, reits & homeys, and the short covering ends there, we head down again, in earnest.
Maybe thats asking too much.
Or maybe all that shit is telegraphing another fed move shortly.
January 23rd, 2008 at 8:53 ameverything looks horrible except… mvis, which is starting to show some resistance to getting shoved down any further. what about a strategy that says “buy now, and mvis will pay you a 50% dividend to wait around till 3Q-4Q to see how things are going”. The stock could easily rise from the ludicrously overshorted to merely badly oversold (around $3.35-3.50) in the next 6 months. Risk, of course, is competitive newsflow till then.
meanwhile, short more solars, it’s good for you.
January 23rd, 2008 at 9:24 amdown with Rockefeller
DUG
How about some MVIS, would be great to buy it this cheap, but a secondary is very possible.
January 23rd, 2008 at 9:32 amforget homo hammer were talking castration, tar and fethers!
January 23rd, 2008 at 9:41 amlook for tuesdays lows over the next couple of days.
I think that’s it for now boys. We just bounced off the 200 EMA (weekly chart) for the first time in over three years. I am lightening up on all shorts and going into cash until this thing bases. I will then go long only if we break the down trend line. But who am I, I’m the fucktard that loaded up on AAPL shares last night. Whohoo! Seriously, Dow 11,723 will hold and serve as floor until another round of shit hits the fan.
BTW - SBUX good for a bounce.
January 23rd, 2008 at 9:43 amThe high P/E stocks are just done, you just can’t play for a bounce in these things… lovely seeing my solar names (short) showing some real breakdowns…
January 23rd, 2008 at 9:51 amWhat about SRS here Fly?
January 23rd, 2008 at 10:06 amPisani says that hedge funds are rotating into/buying financials and retail here … and Fly is shorting the consumer and financials again … I’m with The Fly!
January 23rd, 2008 at 10:11 amSo does DECK hit $100 by 2PM or 3PM?
January 23rd, 2008 at 11:03 amTHEREÊ»S ALWAYS NEXT WEEK. the market has been so volatile that it wouldnÊ»t surprise me if weÊ»re down again…
let the bulls have a few days… weÊ»ll have the months & years
January 23rd, 2008 at 2:43 pm