Press the Envelope
April 24, 2008 – 1:13 pm
Check this out: buy financials.
My [[MER]] purchase was indeed real and not an experiment. Everything is topsy-turvy. Unfortunately, it took me awhile to figure this shit out.
In short, before we trade lower, we will cut through 13,000, like retarded construction guys through Home Depot.
All of the brokers are decent trades, even [[LEH]].
There is funny shit going on and I am in no mood to get in the way.
The dollar is bottoming, which may cause a short term moderation in commodity prices. On that news, I like financials and Chinese stocks, down at these levels.
For now, my top picks are MER and [[CTRP]].
“we will cut through 13,000, like retarded construction guys through Home Depot.”
You just don’t get that commentary on CNBC.
Funny!
April 24th, 2008 at 1:15 pmFly –not shitting here. MER hit the downtrend line exactly and is now backing off. If you don’t get a break through here, get the flick out.
April 24th, 2008 at 1:20 pmJake, Fly doesn’t care about technicals.
April 24th, 2008 at 1:22 pmit is, for the time being, a Costanza market
April 24th, 2008 at 1:24 pmJake,
Start posting on PG.
Whats going on here…Fly buying little STeVie Wonder.. what happened to bad times and derivatives and Rice hoarding and Skiffles and $125 Gas
April 24th, 2008 at 1:26 pmOnce oil starts topping out (looks like it is?), it really might put in another round of buying (”we don’t need to worry about inflation!”)
April 24th, 2008 at 1:28 pmSo here we are at the magical s&p 1390. This is it. The final frontier.
Time for men to be men, and for sheep to be nervous.
…because somethin’ is about to get fucked
April 24th, 2008 at 1:28 pmHow do you like my charts? I may Ross Perot’s charts look like child’s play.
April 24th, 2008 at 1:32 pmSo, AAPL reports good quarter but lowers guidance. AMZN reports awesome quarter and raises guidance. AMZN down but AAPL up. Someone with experience explain this to me.
April 24th, 2008 at 1:34 pmNot that I’m complaining - got burned on my straddles, but managed to hang on to the (now) winning halves.
I Laugh at all of you.
FOOLS!
April 24th, 2008 at 1:34 pmPayload
April 24th, 2008 at 1:34 pmKCB –
Laissez le bon temps roulez, muthahflickas!
I guess!?
April 24th, 2008 at 1:36 pmI am a daytrading fool. No wonder I take high blood pressure pills. I may start taking them with a Jack Daniels chaser. The Doc never said not to.
April 24th, 2008 at 1:37 pmSkot-No one believes AMZN and AAPL always UPOD’s.
And did fry really buy STV? That explains a lot.
April 24th, 2008 at 1:38 pmFly, you one crazy mother fucker buying anything long after the last bout of DOW 1000 points market shenanigans. I thought you would be all over the shorts here. This is like the tenth time we made a charge for 13000 in a week it seems, lets see if this is magic moment.
April 24th, 2008 at 1:39 pmGet drunk. Buy Stocks.
http://bp3.blogger.com/_6aEu6HmAQPQ/SA9fV6bvHoI/AAAAAAAAKIo/lkMWhARXFu8/s1600-h/amyw.jpg
April 24th, 2008 at 1:41 pmSure, buy the financials.
Worrying about being hit by a dilution bomb at a 30% discount to market is so earlier-this-week.
Nobody that I respect* is seeing any sign of bottoming in the real-world US economy. There are a few minor positives - gains in exports, for example - but those are largely a reflection of a low dollar and high commoditiy prices
*Respect is reserved for those who were beating the drum on the mortgage and house price insanity long before the mortgage-holders started the massive write-offs and the “nobody could have predicted” excuses.
April 24th, 2008 at 1:44 pmfxp sux
April 24th, 2008 at 1:44 pmFUCK LEH!
PUTS ON THE POP!
up 8% today, …suck it…. SHORT again above $47.
and again at $50, and $55 ….
then if the stock doesnt go back down, … i will foreclose on my $650K san diego ‘depreciating’ pimp palace, just to spite those fuckers at AURORA HOME SERVICES, a lehman company.
April 24th, 2008 at 1:49 pmHow much did the market rally from it’s “bottom” in April 2001?
April 24th, 2008 at 1:55 pmHonestly, what’s the case for lending money to Uncle Sam for 10 years at 3.8% if Armageddon is cancelled? I think treasurys are the most overvalued asset in the Milky Way universe. Shorting TLT seems like the easiest money you’ll ever make (except for hoarding rice, of course).
As treasurys get sold, the money will come into stocks. I expect multiples to expand 2-3 turns as long as ten year treasury rates don’t go over 5.5%. As rates rise, the relative value of the dollar will strengthen, and cheap U.S. stocks will act like a magnet for sovereign wealth funds.
I think stocks are going to blow away virtually eveyone’s expectations this year.
Embrace the wall of worry.
April 24th, 2008 at 1:57 pmBOTD: A $650k San Diego home? You’ve got 1200 square feet east of the I-5?
April 24th, 2008 at 1:57 pmApril 24th, 2008 at 1:57 pm
I don’t even get it…
April 24th, 2008 at 2:02 pmFly has got me so confused I’m going to 90% cash while I try to figure things out!
Hey Crudebroker or Fly or anyone: I am heavy long TSO with a cost basis of 26.10 now. I want to hedge this position and wanted to know what way would be the best. Would it make sense to short UGA and long TSO?
April 24th, 2008 at 2:03 pmWell, the undertaker drew a heavy sigh seeing what was about to come,
April 24th, 2008 at 2:04 pmAnd a bell was ringing in the village square for the shorties on the run.
Shorts on the run, shorts on the run.
And the Federal Men and Heli-Ben, were forcing every one
To be shorts on the run, shorts on the run, shorts on the run, shorts on the run.
[image: http://wordinfo.info/words/images/zoo-zoolatry-bull-women.gif ]
April 24th, 2008 at 2:04 pmBought CTRP back in the day when XFML looked legit and FMCN melted up. It’s been a rocky ride, but glad I’m still in.
CTRP will benefit from Chinese going to and fro, and more visitors tlavering to China after the Orympics. (That is not a racist statement, either.)
April 24th, 2008 at 2:09 pmThat’s been my thinking Gap …. Long WNR and Short UGA!
But, thats not a hedge … thats like a double inverse since you are betting on the crack spread improving from a drop in the price of gasoline/oil, no?
To hedge, TSO buy COP or DO ….
April 24th, 2008 at 2:12 pmPaul-You and Wings owe me 50% of the profits for the little ditty you just posted. Pay up or I will dump water on your head.
April 24th, 2008 at 2:14 pmNo UGA shares to short fuck fuck fuck.
Maybe long USO?
April 24th, 2008 at 2:16 pmDawg, J Rogers says all the airlines over there are packed …. buy ZNH, fuck jet fuel!
April 24th, 2008 at 2:17 pmLong USO or UNG makes sense …. prefer natty since it’s the fuel of choice esp for the summer season.
April 24th, 2008 at 2:19 pmJake …. Is is safe to hop in the Merill-pool now on this dip?
April 24th, 2008 at 2:20 pmZNH gets fuel subsidy from govt, I imagine.
April 24th, 2008 at 2:22 pmChaos in the AH. I show BIDU,MSFT,AMGN,JNPR out with earnings.
April 24th, 2008 at 2:28 pmEmployee — It’s hovering right at a break of the downtrend line ($49-ish). I’d like to give it a little distance here, especially since it’s gone almost straight up. Let it catch a breather.
April 24th, 2008 at 2:37 pmNever mind, changed my mind on oil. Looks like it’s reversing.
April 24th, 2008 at 2:47 pm