Tuesday, September 11, 2007

 

Closing Comments

All of my "smart friends" think the market goes lower tomorrow. Therefore, we will probably go up again.

As you know, the volume was light; but who cares?

Today, all the old momentum names gapped higher, such as: LVS, PCLN, BIDU, AVCI, JRJC, SMSI, ATHR, SNDA, ERIC, JAVA, VSEA, LSI, IHP, TNH, LAYN, OSG, VMI, WYNN, NOV, ACH, PKX, CRS, BOOM, amongst others.

In short, I am hopeful the market has bottomed, despite being short RSH, MDC and LAZ. However, I am not convinced the Fed understands the severity of the slowdown. If I am correct, the Fed will only cut by 25 basis points and offer little insight into future easing. That will send stocks lower.

So, in the meantime, I will enjoy "The Woodshedder Bottom," while quietly adding to my SRS position. Also, I really need to stop buying bullshit stocks, like iiG and AXR. Instead, I will be putting my resources to work in higher quality names, like HANS, BWLD and RS.

As for MVIS:

The company has weak shareholders. The institutions behind the stock are fucking crack whores, who flip on a good press release. The company needs to do a better job at attracting institutional ownership. Trust me when I say, this is not entirely Tokman's fault. In the future, he needs to align MVIS with a good investment bank, who will provide a steady shareholder base.

Off to the gym.

NOTE:
Those fat mountain bitches from CWTR really got annihilated, huh?

Comments:
Did you just say you enjoy my bottom??!!

I'll kick your kneecaps into twigs should you say anything like that again!
 
You'll do nothing of the sort.

Viz.
 
Who are you, George Takei?
 
Maybe we could align MaVIS up with those come from the dead LAZarus mothah fluckas and get that schit SOLD to the highest biddah!
 
Someone mentioned GLW (from Schaeffer):

First things first, let's not overlook the impact that the recent subprime shakedown could have on television purchases. If you are struggling to pay the minimum on your credit cards and make your mortgage payment, are you going to rush out and drop 5 large on an 88" big-screen LCD TV (those stats are fabricated)? I think the myopic belief that consumers will spend the money because the TVs are at appealing levels despite the current market crunch is dangerous. Yes, the stock is poised to withstand a bit of a downtrend, as it enjoys the support of its 10- and 20-unit daily, weekly, and monthly moving averages. However, disappointing sales and/or earnings may be more than the support can withstand.

It would be nice to see some sentiment that could help provide some momentum for the shares, it would be nice. Would is a big word, and an appropriate one here, as the sentiment doesn't stack up favorably for GLW. Currently, less than 1% of the equity's float is sold short, and it would take less than 1 day to buy back these shorted shares at their average daily trading volume. This pittance of pessimistic positions nearly eliminates the chance of a short-covering rally.

The chance of upgrades is nearly nil as well, as GLW earns 4 "strong buy" ratings, 1 "buy," and 1 "hold" rating. It certainly appears that GLW's trendlines are all alone in their quest to push the stock higher. Can the stock advance more? Yes. However, in order to break through overhead resistance at the 25.50 level, the stock will need to rely on its trendlines . . . and virtually nothing else.
 
A tip of the hat and a tear in my eye on this sixth horrible anniversary to my buddies, John Wright and Matt Grzymalski.

Rest easy, fellahs, we will not forget you, or what happened that day.
 
Jake, the ensuing fed/gov bailouit will ensure that the poor fucks who are just rich enough (and have high enough credit) to qualify for a refi will go out and buy a big ass plasma. They'll also pick up a granite countertop and a new rexus for the wife. Remember, the poor fucks who still own homes that they shouldn't are about to get dipped in a poo-vat, financially speaking. The rest of us are gonna rock. S&P to 1600 by 12/31/07.
 
Sorry, I should clarify between poor-fucks and poor-fucks who shouldn't own homes. The poor fucks who are going to get bailed out are the ones just rich enough to keep paying their bills, yet still live a little beyond their means. The poor-fucks who shouldn't own homes are the ones at the bottom of the pyramid who make a combined 50K/year and are sitting on a 750K refi within the next 24 months.

On a socioeconomic level, what is now happening in America will significantly increase the disparity between rich fucks and poor fucks.
 
fwiw .. I think CWTR & AXR look like they're worth a shot down here & are in the process of bottoming
 
Check out EHTH, mah biatches.
 
I have in my possession a copy of an S&P report on MVIS dated 09/08/07. The analyst is Carmelo Diaz (not sure of gender).

They have not formally issued an opinion on the stock, but have put together what is called an issuer sponsored stock report.

It has all the financial data, tables, and all the squiggly lines for the lazy chart chompers.

Maybe something is developing.

Jake--you do like to talk, er...post, don't you? Gad!
 
Er... "Stockhead?"

I think you forgot your your reading material.
 
This comment has been removed by the author.
 
dog du jour; JSDA - down for the count or ?
 
From SeekingAlpha WallStreet Breakfast, Ericsson and Picop??

"Sony Ericsson Exploring PlayStation Phone - President

Handset maker Sony Ericsson is considering producing a high-end PlayStation phone, the Financial Times reported Wednesday. The company, which is 50%-owned by Sony Corp., already produces a Bravia-television-branded phone with mobile-TV capability in Japan, and said it is also exploring extending that line to the high-end. President Miles Flint stressed, however, that the technology for the PlayStation phone was yet unperfect: "We need to make sure that it is a credible phone, and be sure we are justified in putting that identity on it," he said. According to the TrustedReviews website, the PlayStation phone could be out as early as Q1 2008. Sony Ericsson has successfully used Sony's Walkman and CyberShot brands to create phones, a strategy that has helped it more than double margins in the last three years, and move from number-five to number-four in global handset sales, the Times said."
 
From SeekingAlpha WallStreet Breakfast, Ericsson and Picop??

"Sony Ericsson Exploring PlayStation Phone - President

Handset maker Sony Ericsson is considering producing a high-end PlayStation phone, the Financial Times reported Wednesday. The company, which is 50%-owned by Sony Corp., already produces a Bravia-television-branded phone with mobile-TV capability in Japan, and said it is also exploring extending that line to the high-end. President Miles Flint stressed, however, that the technology for the PlayStation phone was yet unperfect: "We need to make sure that it is a credible phone, and be sure we are justified in putting that identity on it," he said. According to the TrustedReviews website, the PlayStation phone could be out as early as Q1 2008. Sony Ericsson has successfully used Sony's Walkman and CyberShot brands to create phones, a strategy that has helped it more than double margins in the last three years, and move from number-five to number-four in global handset sales, the Times said."
 
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