Stocks like [[RIG]], [[SU]], [[ARD]] and [[OXY]] should be bought into this dip, not sold. The current theme is to deflate commodities, while buoying the banks. However, I hope you realize and understand, they are going higher due to short squeezes and they will be using this spike to execute more dilutive financing.
Either way, I want no part of the banks here. There is too much trickery at play. Believe me, it is very tempting to sell them short here. To occupy my boredom, I will commence selling short ‘global growth plays,’ like [[TEX]], [[VMC]], [[GVA]] and [[CAT]].
After the banks recapitalize, it will be time to sell them again. Until then, be careful, for the government will kill you.
NOTE: Many of you have been emailing me about the [[MVIS]] financing. In my opinion, it is a necessary evil. They were running out of money and needed to raise capital. The bullish part about the financing is that it was down with a good firm and will enable them to pursue the commercialization of their products. The stocks is probably a buy, under $2.30.
NOTE II: Veritas5 gives a refreshing look at some possible jackpot makers aka hurricanes.
NOTE III: Wallstrip has a new look and Julie thinks she’s a singer now. ROFL. Sorry Julie.
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i like you short theme minus VMC.. its been hammered way off its highs and they basically have a monopoly
My GOOG puts are sleeping. zzzzzzzzzzzzz.
My OSTK puts are burning hot!! OSTK down -40% The options gains are too scary to mention. 😉
CNBC is mildly watchable sans Maria. Hopefully she takes more vacations.
Margaret Brennan isn’t bad on the eyes either.
Just stop with the banks.
The banks are out of play now. Move on. You’re not even paying a bit of attention to new emerging bull runs: healthcare, drugs, small cap value tech, TRANSPORTS, trucking in particular. China stocks should even be strong here for a little while.
I banked coin in MRK, MR today —
Dow is going to be up 200 points on Monday when GOOG and MSFT are allowed to bounce and oil stays flat. The easy money shorting financials is over.
Did you forget that we are traders — and like great politicians — we flip flop whenever it suits our best interests. Be bullish today, be bearish next week.
I like oil too but I’m not that interested until this little pocket of weakness is played out.
SEC: Stock Elevation Commission
How the fuck can I stick with long term trends without my rulers?
Give me back my rulers you fuckhead!
I said it 3 months ago that MVIS had to issue more stock.
MVIS: If I see insider buying I might buy some. That would signal soneone is buying them out. If people can not afford to drive cars. What the Fuck do they need a projector in a phone. That would increase their phone bill and they could not afford Net Flex. Trust me you can’t get more high tec then me. Most tec companies sell hardware at a loss because they make money on services. I don’t see any services like software and trainig etc. to go along with this product. Back in 1985 this would have been hot. I could be wrong as always. Do not fall in love with a paper stock!!!
TEX earns will be announced on the 23rd – I’m waiting til then for color on whether to long or shot – she’ll be a mover. $1.2 Billion dollar share buy back in place, $333M +/- completed so far will swallow up 20-25% of the existing float. Upped guidance last quarter, backlog of orders – supplying big trucks to miners flush with cash as commodities still relatively historically high. TEX sold off on worries of slow down and higher materials costs.
The ROW trade is unwinding as it was erroneous to assume decoupling. New orders could slow drastically.
Love your board and insights.
The chart absolutely looks like a dead cat bounce, but if they maintain the $7.10 earns for 2008 she can fly. Just be careful.
I probably sound long biased because I am- no position yet but drooling.
While bowing to Fly’s genius, I can’t help but feel that RIG is a good short candidate right now. My near term target is $138, but won’t be surprised if it falls further. But what would I know, internet leech that I am?
Carter Worth:
Purple Crayons.
Undeniable
Sir Douch
“The easy money shorting financials is over.”
WTF? Wrong.
“If oil drops below $130/barrel this year I will be shocked” ~ July 9, 2008
Are you shocked?
Regarding your MVIS comment…
“The stocks is probably a buy…”
The stocks is??? Not that I care. But I know you would.
I bought IWM puts EOD, then ran a chart on SKF.
SKF fib 61% is $135.
So now I have a solid signal that my IWM puts will work
Is it “sucker’s rally” or “suckers’ rally” ?
I see more than one sucker out there.
“Fake Tan Pizza Man” — now that’s fuggin’ funny.
Yeah, John Schnatter’s a smart guy, and even a pretty nice guy.
Here’s the problem though: his pizza sucks.
And I don’t even mean “relatively sucks” because, of course, all non-NY pizza sucks, but even for non-NY pizza, his pizza sucks.
My non-NY born kids love it though, the maleducated little whelps.
__
Roddy — it’s “sucker’s” in the singular as it’s modifying the rally globally via the perspective of an individual investor.
Think of how you’d describe it if you noticed how the rally was kind of cheezy, with a very questionable combover… you’d say “this is a Trump’s rally.”
__
A little relationship technique for that special someone, to seal the deal.
Senor (Spanish) Fly: What to do with your stock? FLY has crashed from $20 to $10 – now what? Hold? Also, I read Barrons and I am now a BULL on banks – what to do? Thank you very very much, Senor Fly.
The banks are going higher because smart money has bought them. The shorts will normally cover as they have bought their shares and will cover, sending their long position in the green. This in addition to the probability of lack of shorting and selling pressure being exhausted. The valuation of these companies are too cheap to not buy for long term investors. Add the certainty that the US government has basically came out and stated they will unofficially insure, with the low class tax money, any company in the financial sector deemed important, ie: Bear Sterns, Freddie, and Fanny. Citigroup, Lehman’s, and Wachovia will be backed unconditionally. The American government does not practice laizé faire policy when the social elite’s wealth is at stake. There is no way companies over in Europe will become insolvent either. RBS, BCS, DB, and HBC will all be going higher. It’s all cyclical. Technology sector should bounce and send the markets up along with the banks.
we went and saw Public Enemy in chicago on friday night. they performed their album “it takes a nation of millions to hold us back” in its entirety.
note: i despise hip hop, because i am old…however PE is different…they truly transcend the genre.
chuck d on friday night, in a spiel to get the crowd fired up:
“it takes a deficit of trillions to hold us back”
it warmed the cockles of my heart, it did.
At 5:30 AM today, I was about the 50th guy in line for the 6AM showing of Batman, about 20 ft. from the door. The line was around 100 ft. long OUTSIDE the door.
5:30 AM. wow.
Great movie BTW
I’m cheap. I will see Batman at the $1.25 theater in about six months. Then again, the rug rats are grown up and out of the house so no nagging. The large tub of popcorn is $2.75 and the place is packed all of the time. It was a first run theater until about two years ago so the sound system is good.
The British Open is an interesting watch this AM. I am hoping Anthony Kim wins (although it is looking slim with 3 holes left).
How are you doing % YTD Fly?
I found someone’s anal virginity. Does it belong to anyone?
DSB, i went on friday. movie was fantastic.
Fuck you FXP. You’re a hedge. A motherfucking hedge. I got shit on the other side of you, ya hear?
Aris, sold out?