Monday, September 25, 2006


Closing Comments

If you are short RACK, like me, consider yourself lucky. You could have been getting your fucking ass kicked all over Wall Street in AKAM, LRCX, RMBS and dozens of other high multiple places of pleasure. Hell, I can take -2.7% standing on my head, juggling two small monkey's, while reading Cramer shovel shit on RealMoney.

Heck, this market could care less about fundamentals. Consider the recent run in the homebuilders, despite the bad numbers, then stick your head in the freezer and slam the door shut.

The thing that annoys me is how wrong the delightful dip buyers are. I'll bet my head versus theirs, the semi's roll into the third quarter earnings season with 2 legs, 2 arms and a head and roll out with just one-big- stupid- head.


UPDATE: PMCS warned after the close.



UPDATE IV: LOW warned.

NOTE: Today, I will not run my most up/most down screen in protest of market stupidity.

Don't feel bad , today I brought the OEX Oct 610 Put, at even through i brought at the days low...I brought in the face of a mojor market melt up...stupied, but I did it !
PMCS getting raped in AH's
PMCS sucks and always suck,any buying in the last two ywaes is pure spec bottom far as homies and high p/e tech...least I remind you that both do a hell a lot better when intrest rates are comming down,and stop going up,and the market always looks ahead.. and its saying the fed is you friend tech and homey!
Pal - I'm a daytrading dip buyer - most of what I buy is off a gap down forming into one of four pretty righteous setups. It's what I do. I learned long ago that if I wanted a stock to fall 10% I just had to hold it overnight. Now I make money most days and I'm happy.

Today was almost guaranteed to be an up day. First the history says that the last week in September is generally robust. Second the indices all turned up Friday late. Third the VIX is neutral relative to its 10 day moving average(and I don't give a shit that it's 10 20 30 points less than where some asshole thinks it should be. The fact that its at some mystical low point simply says no fear folks). Fourth the up/down ratio was in the low 30's off Friday's performance. Fifth the new 20 day high vs lows favored lows for the first time in about a week or so. (When lows are favored the dip buyers come out - think you can figure out why). I could go on but all of that crap and then some rolled up in a little ball says "up day comin' be happy be happy."

Sorry about your shorts but I think you're more pissed about TUG than anything else that's going on.

Oh well my gin meter is pegged so I think it's time for a martini. Have a better day tomorrow, Pal I really enjoy the log.
Well, your analysis goes both ways.

Right now the yield curve is inverted and the bond market is pricing in recession. So, just because the rates are low, doesn't necessarily mean that's a good thing.

nicely said. However, you do know, since you have now declared yourself a "dip buyer," you are now my mortal enemy.

Besides that, have a good drink or two and see you tomorrow.
Hey, you're going to miss out on the rally! Go long: I'm issuing my rare 'n' fabled triple Buy.

Seriously, even though I can't get excited about Tech, I'm starting to believe that we saw the September selloff a couple months early. If the Fed is done, what can bring down this house of cards going into the holiday season?
Why are you shorting RACK of all companies? They make THE BEST SERVERS. Thats a valuable asset. Are you factoring in the nonzero probability that you could wake up one morning and Dell or HP is bidding $75 for them? I mean, of all the names you could pick, why pick someone making the best product in a major growth area?

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