 | Calling a (short term) Bottomby patrick on June 24th, 2008 at 9:29 pm |
(10 votes, average: 3.5 out of 5)
Loading ...Fuck it. I am calling a short term bottom to all this death and decay known as the stock market. I do not follow technical analysis, therefore I don’t know how to draw straight lines on charts, but I cannot believe that the market is going to get much more fucked up in an election year than it already has.Â
My small (editor’s note: measly) brokerage account is up 25% YTD, but being short right now just has the feeling of pressing my luck, and overrun.
Fly is preaching going long [[REW]] (short specific tech), but I instead say go long [[QLD]] (2x the Nasdaq).Â
But lets talk specific stocks. I completely agree that you should be long oil, specifically Natty Gas. I really like [[DVN]], [[APC]], and [[APA]]. They absolutely took it on the chin today, so you might get a bounce soon.Â
Furthermore, get long whatever Ragin is long. The man is absolutely on fire.
In summary, grab your purse (sack)Â and bet against what everyone else is doing.
 NOTE: The Bearded One is not going to cut/raise rates, so get over it.
Be sure to watch very closely as your bullshit account trades to zero.
June 24th, 2008 at 10:13 pmSorry, Patrick. Fade the Fly and lose your house.
June 24th, 2008 at 10:20 pmThe house will rake the shorts and longs in a very cruel way. The last Rally to 13,000 made no sense at all either, I’m sure some other Dick Bove fucker will come out of the woodwork. Or a jerkoff from Brooklyn will win the 300 million dollar battery contest!
June 24th, 2008 at 10:30 pmThanks for the shoutout, however just know that the cajun is mentally unstable, and you may lose your house following my picks.
June 24th, 2008 at 11:45 pmAll we need now is for some politician to win the presidency and raise taxes. Wouldn’t that be just special?
It would make 2000-2002 look like the good ol’ days.
June 24th, 2008 at 11:52 pmPatrick - I think you are dead wrong, and that this is NOT the time to be making this kind of call. Whatever you do, no margin and diversify. We are about to get crushed. Trade well, be careful. BOOMER
June 25th, 2008 at 12:47 amJuly rally to S&P 1383 minimum beginning tomorrow.
June 25th, 2008 at 12:53 amDevildog:
As always, you don’t know dick from doodles.
June 25th, 2008 at 1:01 amOh, dont get me wrong; I know my account is bullshit and might trade to zero. Everyone has just been so negative lately, that I think that there could be a bottom, at least in the near term.
I’m also glad to know that I can make asinine assertions, and I then get responses… even if I am completely wrong.
June 25th, 2008 at 1:08 amnice call patrick
and devildog may be right for the ensuing july rally … however that will be a short op for the ages
June 25th, 2008 at 11:36 am