Thursday, November 01, 2007
My technician says we're going lower. Amidst his incoherent rants, I heard him say something like "VIX breaking out" and "down volume, so not gay."
I agree. Apparently, the market is in 'queer mode.'
I've noticed, the common denominator of all of the big disappointments have been U.S. consumer related. From CROX to BWLD to NTRI to you name it, the U.S. is a country full of poor, credit card using fucktards, who are constantly in need of a new plasma tv.
Into the close, I threw some shorts and other hedges on, just in case the gift keeps giving.
It seems fairly possible that we will endure a few major bankruptcies, within the financials. I know everyone's money is betting on the 'global growth' story. They even get happy when oil goes up, equating it to the 'burgeoning demand,' thanks to the 'global growth' story.
Whenever I see high gasoline and heating expenses, I am quite pleased the fuckers in China and India are 'banking coin.'
In closing, this bull market is treacherous, similar to the markets from '97-2000. Long term, we'll be fine. However, it's the short term blips that usually wipe out the small guy.
Live to fight another day.
NOTE: Maria Bartiroma is a bear whore.
Duration: 2 hours.
2 hours? never seen a cc that long. cant be right unless they are going into an awful lot of detail. Would be nice, but i wouldnt count on it.
Hope the asshats ask some good and relevant questions. Be intersting to see who is on the call.
Up every day. til it drops 50 or 100 in one day, i'm sure.
- Yes I did mention to stay away from anything dependent on the US consumer. The US consumer is dead. They've maxed out their home equity lines, maxed out their credit cards, sold their kidneys and now they are officially 'broke'. Consumer spending will take a very noticeable hit in the coming months.....
Irresponsible journalism at it's best. First, they sold us the Iraq war, and now they're trying for a stock market crash.
Whatever happened to the Fourth estate?
Fly arrives home in his time machine, ponders his next move.
I was very happy with STeVe's relative strength.
SiDharTHa could've been better, but it's a low floater, so...
Links to this post: