If you read this blog regularly, you know I follow market ‘TELLS’. Before the recent meltdown, I was using Federal Express and Fannie Mae’s January lows. When both broke – eg. Fannie below $19, I had a good idea we were going much lower. We did. I don’t want to own banks (except mine), though …
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Dude…Where did you put 3,000 Dow Points?
Other than Bloomberg , ‘The Fly ‘, and StockTwits stream on Twitter, I have cut down on my financial reading. I am still excited to grab a weekend Investor’s Business Daily just to check in on the leadership, but that’s been a waste of time lately. I have learned that writing about stocks and the …
Deep Market Thoughts…MOTHER#%^#%*%#ing Financials AND Blame The Shortseller
If you own banks, that’s what you were saying today. I hear that if you were watching CNBC, it was the shortsellers who are now getting blamed . Shortsellers are sneaky and out to make a buck, but what a shitty way to make it. It’s just their turn. The real crooks (Wall Street) has …
No Offense Mexico, But We Want Our Currency To Look Like Yours
George Bush and Bernake love the pretty pictures on the Mexican currrency and all the jingling from coins. Jim Rogers sums up how this all is playing out and why the market won’t rally on Fed moves: I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock …
Tumble, Plunge, Plummet, Bailout…Words You Don't Hear at Market 'TOPS'
This is not a bottom call. Dick Bove infamous and despised now by me for calling Citibank (C) ‘The Byy of a Lifetime’ back at $22 on CNBC is probably out somewhere saying it’s now the buy of your grandchild’s lifetime and the buy of your lifetime is now Fannie Mae (FNM). Once twittish statements …
Institutions Get Tired of Buying the Dip as Well…
I was looking at another of my least fave stocks Best Buy, that seems to be giving way as well (BBY) . Any hint of Best Buy guffawing here and the stock will see the 20’s. Institutions are barely holding on. It’s happened to Harley Davidson, International Game Technology, Citibank, Whole Foods, and Fannie Mae …
Deep Market Thoughts…Pissed or Panic
We are not close to panic, save the oil shorts. I was twittering that my best trade of the day was covering USO (oil ETF). Yesterday stocks looked strong with Apple up $5 and Amazon up $3 and today they gave it right back. It feels like chop and laziness, not panic. Fedex, Citibank and …
Should the Market be Lower?
Probably. Shit Fannie Mae should have been a teenager 5 years ago when I was shorting it. When it broke, it just took a few months for a 70 percent drop. That timing game is just too much work for me. It’s truly a full-time job and you better be good. In the end, timing …
What I am Doing…Apple, Financials (SKF), Bear Stearns and The Fed
I am selling a portion of the Apple stop I was buying all around $120 the last few months. I got $138 plus and it’s already $139. $140 is where I was stopped out of the stock a few months back after breaking it’s long term trend. This stock has just been so good to …
It's Good to be an Optimist…Just Don't Be Stupid…And Check out Netflix (NFLX)
Keeping with the optimism…check out NETFLIX (NFLX) . Don’t hate me because I am a playa’! No one has been more bearish over the years on Netflix, but something is cooking in the kitchen people. Do tell me? So I picked a good time to get positive on American Express, Goldman, Apple and Amazon yesterday …