At yesterday’s close, it was official, treasuries were up more than 10% for the year. I realize things are dicey and the world is ending and shit. However, in my studies, whenever you get this type of move in treasuries, the market bottoms. It’s almost as good as gold, with reference to reliable indicators.
The sharp bone in the chicken soup: Citigroup Inc. [[C]] .
If that can get resolved, relatively smoothly, this market will murder all short sellers. That’s why you need to cover your shorts, right now, for the love of money and flaming barrels of garbage.
All Paulson has to say is “we’re buying Citi’s toxic assets,” and the Dow will spring shot to 30,000.
Okay, that’s a slight exaggeration, but you get my point.
Now, instead of fucking around with individual equities, you might as well get some broad based upside etf’s, like [[BGU]] or [[TNA]] —providing you are into that 3x sort of thing.
So, to sum things up, eat a sandwich, raise cash, wax your car and make sure you have zero shorts. With a small percentage of the portfolio, I think it makes sense getting long. We’re about to pop higher, or die. Either way, we’ll find out soon.
Happy trading.
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This can’t be real, can it?
http://news.yahoo.com/s/afp/20081120/bs_afp/financeeconomyusgulf_081120072928
Citi never sleeps, its always vomiting on itself
Feels like we’re going to head back to “let’s make a deal Sundays”, within 3 days.
Petro$…
Very stringy.
But not as stringy as bok choy.
Next up: amigo, can you spare a petropeso for your poor Yankee overlords?
[click, click, auto safety off]
Por favor…
Master Fly you made a typo : 30,000 ==> 30.000
I’m not sure dying would be all that bad cause this murder hole sucks romanian goatsticks
Rally for what…people have left their computers and started forming lines @ Costco and Wal-Mart.
That Yahoo article was quoting a Kuwaiti newspaper, somehow I suspect there might be a little embroidery in the story.
I hate to sound like Dennis Kneale, but “WE GO HIGHER, BABY”
Here we go, Poncho. BGU is clearing it’s inverted H&S neckline.
I love embroidery!
Dear Santa,
Forget the toys, just bring lots of cash. And tell the turkey to bring a rally.
Defaulting to GE buys with a little TNA.
Holy shit, i ordered an appetizer of TBT this morning and it is already up 4%
I cannot stand this “Octobox” bullshit! Trish is hot, but she’s a moron. Melissa Francis is annoying. The rest of the gang is completely worthless.
Just let Erin and Rebecca Jarvis split the entire day.
The Fly is God.
Ha, opening line reads “oil-rich countries.” That’s an oxymoron now, no?
Nice call.
The great C rally of 2008.
Until we find out the C stands for cornhole.
Ping,zoom on gold.
GOLD!
I can not believe thats true Fly…. Now we are really dipping low asking the folks who fly planes into buildings for money WHAT !
CDE
AU
HL
GFI
PAAS
HMY
ABX
SSRI (ok silver)
all of it. crazy.
I like Yamana, but here’s the problem for equities:
gold is up $50, but oil is up 50 cents.
Did we just have our Turkey day rally!?!
Dennis Kneale…just officially came out of the closet. “Bring back my Project Runway” Holy Shit could this be the bottom!
Dog says this is a generational shorting opportunity.
Begging for money is a sign of strength, IMO.
Re: United $tates of Arabia
IF it’s true, Fly, and IF it ends up happening….
Prepare for inflation armageddon 4-12 months hence as Uncle Sam will want to pay back the Arabs by devaluing the buck and inflating their way to $200++ oil.
begging is shameful .. go print more $$$
as for the market:
so in the end what will be the stronger effect today ? short sellers covering or longholders fearing the weekend ..
Can we trade Sue Herrera for that Brit chick?
I’d throw Becky in and ask for Karen Tso, too.
Zen: HA! Done deal. Check that lineup out:
Karen Tso
Erin Burnett
Rebecca Jarvis
Maggie Brennan
That’s all we need. Fuck the octobox.
When you have eight M-fers in the friggen room at the same time, at least four of them are gonna wanna blab at the same time. Chaotic.
Karen Tso does her whole broadcast by herself – and well.
oculus dexter said: “Uncle Sam will want to pay back the Arabs by devaluing the buck and inflating their way to $200++ oil.”
Yeah, isn’t that also how we’re planning on paying back our massive amount of treasury notes held by foreign countries?
I want Karen Tso on naked news TV.
Now that we became USSA I can finally justify my cable bills.
it seems everytime I’ve seen the octobox on CNBC around 1 or 2 pm, the market sells off badly in the last hour. We’ll see if it happens again today.
Fly,
thanks for the great posts. Very funny and insightful.
Anyway, Im home with my 4 yr old today, hes sick.
But I did manage to take buy a little TNA.
Ahh what the heck, i could only lose 18 points . no biggie.
out of my smn today. Got murderlized in FCX, but my calls offset some . i rolled them down 3 times!
have a great weekend all
Allied Nevada Gold (ANV) is pretty interesting.
Starts producing gold in December.
Cash costs per ounce: $385
Estimated annual production: 100,000 ounces of gold
Management: Former CEO/Founder and COO of Kinross Gold
Risk: Highly Speculative
Location: Nevada (low-risk geography)
I like it hear for a trade to $3.00.
Stops at $1.90
Bear trap of the inverse H&S’s formed today?
Brennan speaks Arabic – Hank and Bush should send her to the mid east as she’s bound to strike a much better deal for the taxpayer, especially in that tight, sleeveless white top she wore to announce her arrival to the other bitches on set.
[sound of sheiks licking chops and twisting their own moustaches off]
okay, ready for it now. I see the light!
Dudes, who would not love a little TNA on a Friday afternoon? Hell, you might even want get long some TITN and AZZ.
I’m afraid that the lesson being taught to Americans, is that saving and investing money is pointless. Why would anyone bother, when you consider that it will likely end up being lost? May as well spend it while you’ve got it! Fuck saving! Fuck investing! Live for the day!
Live fast. Die young. Leave a good looking corpse.
Fly,
I hope that aricle isn’t true…That’s BS
BOT C @ 3.80
Somethings got to happen this weekend
Fly, wud u recommend UYG here?
I am shutting this fucking machine down and walking away from this bullshit. I don’t care what it costs me. I am through dealing with it. Fuck it. I’ll sign up for welfare and use food stamps to buy lobster.
Have UYG buy in at $3.25.
BOT more SLW $2.80.
_____________
Boomer — take a look at local product NHI.
No debt, $6 in cash, phat yield. Medical buildings!
Unbelievable!
____________
wheeeee!!!!
Phil, listen to me over “here” …. ya “hear” me?
C is going straight into the Thomas J. Crapper. It will be sold or dissolved over the weekend.
What’s up there, Employee8?