Friday, August 03, 2007
Sector Spotlight: Tech
Go ahead, listen to the fuckers on CNBC, telling you to "buy tech now." "Hurry up before it's too late."
Stupid bastards.
While it's true, select technology stocks have done well, such as GRMN, NVT (nice call Howard), AAPL, RIMM and a variety of others. This is a stock pickers market. Currently, I'd rather buy beaten down basic material stocks, than fuck around with idiots at BBND, TSRA, RACK, NTAP, AKAM and the rest of the technology gang.
Have you not learned from past mistakes? Do you really believe, should the market get "chro-barred," tech will stand tall?
In short, fuck tech and the shit mobile it rides in.
As for today's trading:
Leadership stocks and sectors are telling me the market is going down 1% plus. Already, there is vast weakness amongst the trannies, brokers and retail. In other words, this is a fucked up tape, prepare to have your mustache punched off.
Considering how volatile the market has been, I wouldn't be surprised to see the market snap back and roll on the fucking bears. Although, with everything I'm seeing now, I doubt it.
NOTE: Gold is today's safe haven.
Stupid bastards.
While it's true, select technology stocks have done well, such as GRMN, NVT (nice call Howard), AAPL, RIMM and a variety of others. This is a stock pickers market. Currently, I'd rather buy beaten down basic material stocks, than fuck around with idiots at BBND, TSRA, RACK, NTAP, AKAM and the rest of the technology gang.
Have you not learned from past mistakes? Do you really believe, should the market get "chro-barred," tech will stand tall?
In short, fuck tech and the shit mobile it rides in.
As for today's trading:
Leadership stocks and sectors are telling me the market is going down 1% plus. Already, there is vast weakness amongst the trannies, brokers and retail. In other words, this is a fucked up tape, prepare to have your mustache punched off.
Considering how volatile the market has been, I wouldn't be surprised to see the market snap back and roll on the fucking bears. Although, with everything I'm seeing now, I doubt it.
NOTE: Gold is today's safe haven.
Comments:
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Broker A - does MCHX still scare yee or the lower she goes the more the scare is priced in?
seems kind of washed out & maybe the shorts have made their bets for now ... which doesn't mean there will be any buyers , but the risk reward may be skewed towards the bulls down here
seems kind of washed out & maybe the shorts have made their bets for now ... which doesn't mean there will be any buyers , but the risk reward may be skewed towards the bulls down here
"chro-barred," Now I know why I read this shit.
I wish these money fucks would just puke it all out so we can quantify this whole mess. I think the Government will get involved-- like the Savings &Loan scandal.
I guess we all hope the "Rickshaw Driver" will rally us out this.
Fly,have a great trip.
I wish these money fucks would just puke it all out so we can quantify this whole mess. I think the Government will get involved-- like the Savings &Loan scandal.
I guess we all hope the "Rickshaw Driver" will rally us out this.
Fly,have a great trip.
Legg it out Mason up a buck fitty, showing not all the brokers are scheiss toast.
I've done plutot de due diligence on this name, too, as I watch HBO's The Wire, religiously.
So you're good.
I've done plutot de due diligence on this name, too, as I watch HBO's The Wire, religiously.
So you're good.
Might not be a bad time to hedge out some of your port w. some cheap silver here, too.
It's not as portfolio counter-cyclical as hurricane bonds, but it shines real nice if you buff it up good.
I also like SLW, not to be confused with you know what.
Palacesterium, or whatever the hell....
It's not as portfolio counter-cyclical as hurricane bonds, but it shines real nice if you buff it up good.
I also like SLW, not to be confused with you know what.
Palacesterium, or whatever the hell....
Two things have to happen before we can go higher on a sustained basis. First, estimates for Q4 have to come down across the board. Second, the financials/brokers have to bottom and that can't happen until they guide down and fess up to thier trading/credit losses. The longer they stay silent, the more people discount worst cases.
Until then...be a fucking masochist and enjoy the pain.
Until then...be a fucking masochist and enjoy the pain.
Insiders must be masochists, because their buying spiked amidst the pain over last two weeks:
Note, it dropped off right at the end of July, when the market stabilized.
Note, it dropped off right at the end of July, when the market stabilized.
This is getting really ugly folks. This market seems really afraid of what it still doesn't know yet. When the financials/brokers finally fully "fess up" it may well be worse than anyone dares imagine. I've already cut my positions way back with minimal damage but it may be prudent to pull everything off the table at this point. I'm reluctant to cut my two big gainers, especially when they are holding steady/still going up. I want to be in a good position to minimize loss and load up if there is a much bigger pullback. The market is really vulnerable here. Something unexpected out of left field might be all it takes to really tank this sucker now.
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