Tuesday, August 28, 2007
Sector Spotlight: Financials
Once again, we are fucked. Thus far, thanks to the knifing action in the homies and financials, coupled with the unraveling of the yen carry trade, the market is on its way to losing 2%+ today.
If you are trying to find a silver lining, good luck fuck-o; this market is toasty.
Within the financials, FMT, NITE, NFI, TMA, IVZ, LEH, TGIC, RDN, RWT, amongst others, look as good as shit shingles.
However, considering the recent decline, the financials are overdue a sympathy bounce.
In addition to the "machine gunning" of financials, basic resource stocks are getting lit the fuck up, with losses in CENX, ATI, ACH and FCX (trust me, there are many more losers).
In short, I am going to blame this whole decline, like others, on the Federal Reserve, mainly because it makes me feel better. Naturally, without a rate cut, the Fed will annihilate the economy. However, it's also worth noting, a series of rate cuts may not help us--short term. Ultimately, the economy is going to have to sort out its own problems. There is no silver bullet or magical rate cut that will make people go buy shit from Home Depot.
Basically, forget hubris, it's time to hedge your bets.
If you are trying to find a silver lining, good luck fuck-o; this market is toasty.
Within the financials, FMT, NITE, NFI, TMA, IVZ, LEH, TGIC, RDN, RWT, amongst others, look as good as shit shingles.
However, considering the recent decline, the financials are overdue a sympathy bounce.
In addition to the "machine gunning" of financials, basic resource stocks are getting lit the fuck up, with losses in CENX, ATI, ACH and FCX (trust me, there are many more losers).
In short, I am going to blame this whole decline, like others, on the Federal Reserve, mainly because it makes me feel better. Naturally, without a rate cut, the Fed will annihilate the economy. However, it's also worth noting, a series of rate cuts may not help us--short term. Ultimately, the economy is going to have to sort out its own problems. There is no silver bullet or magical rate cut that will make people go buy shit from Home Depot.
Basically, forget hubris, it's time to hedge your bets.
Comments:
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I know I should short some financials, but being an optimist and all, it's like pulling teeth. What do you guys think - will the yen carry trade unravel for real and drop us to 12,000-?
# posted by 
: 11:41 AM
: 11:41 AM
What the hell is wrong with you guys. If the market is going down go short. If it's going up go long LOL
Moom--
Most people have entrenched positions, instead of queer day trading movable pieces.
But, you are right.
Most people have entrenched positions, instead of queer day trading movable pieces.
But, you are right.
broker a - maybe its time to make nice with your voodoo doctor? better yet, maybe its time to repent, get right with Jesus, and ask for a resurrection?
BOOMER
(38 yrs old, still self conscience about my blogger id)
BOOMER
(38 yrs old, still self conscience about my blogger id)
Not that it helps right now but I read that insider buying of financials is at its highest level since 1995.
I sold calls on my JPM leaps, but that's as far as I'm taking it.
I will buy them fekkers back at a moment's notice.
Surely you did not think we'd go straight back up w.out any kind of pullback?
________________
PS -- Felix UNGar's migraine is over and he's up punching eyebrow's off Oscar and whomever.
Marquise de Queensbury, of course.
I will buy them fekkers back at a moment's notice.
Surely you did not think we'd go straight back up w.out any kind of pullback?
________________
PS -- Felix UNGar's migraine is over and he's up punching eyebrow's off Oscar and whomever.
Marquise de Queensbury, of course.
TraderX, now scroll down a bit, brothah, and take note of the open interests starting at the 140 or so mark and going down to the end.
There's 108k at 150 alone.
Hedging -- it's what hedgies do.
There's 108k at 150 alone.
Hedging -- it's what hedgies do.
Fly is now channeling Doug Kass ... was that you I saw hanging out with Dougie K, drinking Bear Brews in E Hampton this weekend?
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