Wednesday, July 25, 2007
Pre Closing Comments
For two years, buying the dip has worked. Why should this dip be treated differently?
Now, you're probably sitting there thinking "hey, dick, look at the finanacials." Well, how about the melt down in the basic material stocks, last year? Most people thought the sector was dead, never to come back again.
Without the advantage of plutonium powered time machines, everyone sold out--near the lows. In my opinion, the same capitulation is occurring right now, within the financials.
With my money, I will start taking down positions in BSC, LEH, GS and LAZ. Fuck it. I'm betting against a melt down.
Generally, the market was very volatile today, with stomach twisting moves in the major indices.
As for my positions:
I view today's decline in MVIS as Mother Markets way of punishing me for escaping yesterday's debacle. The bitch came back and punched me in the nose today, and then went about her business. It's almost as if she didn't want to forget breaking my nose, before recovering.
Looking through my watch list, I am impressed with the strength in internet stocks, led by AMZN. Additionally, I like SNWL, SFLY, TSCM, MCHX and BIDU.
Also, thanks to the spike in oil, energy related stocks are bouncing. Within the sector, I like ALJ, VLO, UPL and SU, amongst others.
And, don't forget the metals. Traditionally, now until Labor Day is uneventful, with regards to deal activity. During this time, I want to load the fuck up on RS, CLF, AZZ and KALU.
Come Labor Day, I'm sure the deal flow will be burgeoning, once again.
In short, today was a success for the bulls, effectively stopping the bears' designs of a precipitous market decline.
Sometime tomorrow, I anticipate "business as usual." You know, fucking around, kicking old weak men down empty elevator shafts. Look, I have plenty of time to win. I'm playing chess here fuckers, while you draw straight lines on your charts-- hoping to catch a few percent so that you may buy your wife something shiny.
Not only are they taking every available opportunity to shat on Broker A, now they're taking shots at people who post comments/former weekend bloggers.
If that's not a sign of success, then I don't know what is.
Steve Jobs always guids low, so if they really screw up they still male it. Wall Street knows this. I think because they did not double or triple their earnings and the iPhone only sold 270,000 units is why apple is down a bit after hours. The investement bankers thought Apple would sell between 300k-500k unit. They figured that people bought the iPhone but had not set up service with AT&T. How stupid is that. Who buys a phone for $600 and does not activate it to use it! Just another example on how Wall Street tries to pump so they may dump.
I see pnra had its guts ripped out today. Is Joe bag o donuts tapped out?
$3 gas is not a pretty picture for the workin man.
care to comment on the agreement between mvis and mot. Do you see any thing in between lines that is not so obvious?
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