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Animal Spirits Still Going Wild
With the NY Composite and SPY hitting a "double top", the slide rule technicians operating the robots immediately sold stocks after the opening spike to "lock in profits". Now we have to use some forensics to see if another bear market is going to resume, or if this thing is going to keep going. Unfortunately for the bears, some favorite instruments of speculation were being dryhumped with a vengeance, showing no signs of weakness or distribution.
Remember how earlier this year DRYS was one of the most active ticker symbols on CNBC? Well those stocks have been dogging it. Until this week. And today, they really lit a fire under these shipping stocks. Helped, no doubt, by Cramer's touting of DSX the other day:
Amazing how the speculators love to chase these cheap hookers.
Now we get to wait and see what AMAT has to say after hours.
I remember back in the day when these semi equipment names were the favorite crack vehicles to be traded by the Nintento gamers during the 2001 - 2003 bear market, because these issues were prone to absolutely huge short squeezes when Dan "The Greaseman" Niles used to utter the "AMAT train is leaving the station" call. Worked every time.
Today, we are lucky to see AMAT, KLAC, NVLS, etc. move more than $1 in one day, when it was common to see these stocks bottlerocket by $3 - $5 a day, and sometimes have 60% runs in less than 3 months.
In fact, these companies are deemed to be so important to the health of the stock market, hence the survival of the human race, the CEO's of these firms are among the first to be invited to the major economic confabs.
Here's a photo of Splinter at Davos. With wife/girlfriend/escort, who no doubt, is an ex Silicon Valley Junior Leaguer.....
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GMCR, meet the grinder.
the slide rule technicians operating the robots
gold clap! edit...meant golf clap, but left the gold part in...freudian perhaps?
HP buying COMS it looks like.
AMAT profit drops, will cut 1500 jobs.
ETA: Way off last year's numbers, but EPS was 10 vs. expected 3 pennies and revenue 1.5B versus expected $1.3B. YOY revenue growth down about 40%, but forward EPS at 35.
I lost it today in the opinion section of my analysis today. Just went into a rage. I heard Gartman just flat gave on analyzing equities. I am about to join him.
I'm going to be spending some time analysing stocks in the next few months. i'm planning to change the ratings.
Conviction Buy > Man, this is some good crack!
Hold > Uncle Ben said I look real cute in this
Sell > What the fuck is this? Earnings and an RoE? Cash on the balance sheet? Get away from me with that shit.
Aren't charts "going from the lower-left to the upper-right"? Isn't that all Gartman knows how to do??? I thought that was the extent of his analysis.
I think the progression is: escort/girlfriend/wife
you're right about that.
And followed to its conclusion...escort/girlfriend/wife....ex-wife.
word
Disney announces restructuring of movie studio ahead of tomorrow evening's earnings. Boo-yah!
A ship loaded with "GI Joe's with the Kung-Fu grip" that leaves dock today in Shanghai will not arrive in time for Christmas.
By all accounts Black Friday will soon arrive where shoppers will find the shelves empty and the panic that ensues will spark a mini Tulip Revolt with promises that the purchase of a gift card will sooth the need to put a present under the tree and profits will soar without creating an inflationary spiral as the "want" will subside in January and the "need" to restock to fulfill the gift card demands can be done in a FIFO format that ensures continued profitability through Q1.
Get in now, this boat is set to float through 2010!
looks like Alexis Glick to me
I was thinking that same thing (re: Glick), but surely Robo would know, wouldn't he? He's got quite a portfolio of "ladies".
The proof
hereand
hereand
here
Boy, she really gets around.
+10, lol, made my day!
Sorry RT, I disagree with you. I hate Cramer but DRYS is a play on the global recovery being stronger than anticipated, which is why the hedgies are piling in. It has lots of room to run from these levels. As for the liquidity rally, it will continue until the market starts pricing in much higher inflation expectations (TIPS spreads are not there yet). Keep buying the dips, she is heading much higher.
DRYS has the interesting drilling angle, too, to possibly get in on the long-term oil vs. dollar gangrape.
On DRYS, just one warning. I bought DRYS back in q1 2007 at around US$ 20 for all the reasons why people are buying them now. I sold our first portion at 120 and feld sorry because it went up to 130. I sold the rest at 95. In this whole run up no one complained about the vague corporate structure of this company including myself. After the first leg down it became clear that the former CEO/Chairman Economou ran the complete show. It became worse when the CFO left. This company is a corporate covernance prime example of how not to behave. The fact that I got away with it did not mean that I did not take the risk. This trade was just luck....
This market would not know inflation if it knocked it in the face after all the Greenspan years of changing the calculations- hedonics, chain weighting, substitution etc. TIPs in my mind is a very poor indicator in reality of anything but the government's manipulation of the inflation figures. Look at gold and the real world. Now the govt has a bigger vested interest in keeping the inflation figures down.
Commodity inflation.
Wage and asset deflation (in home prices) and in food prices.
Stocks and bonds are so screwed up at this point I don't know what they are. Manipulated.
TK a motorcycle finance company, a typical Thai small cap, that paid throughout the crisis (Thailand 1997) still has a 8.9% yield, and after corp tax refunds for residents it's 12.7%, in Baht in a rising market and economy. until yields in assets approach something closer than lending rates esp.in the carry trade shouldn;'t there be a little more movement of 'smart money' into these assets that generate wealth not only for the holder but for the company and emplouyees as well, as opposed to 'gold' which noone uses for a damn thing except jewelry?.
http://www.set.or.th/set/companyprofile.do?symbol=TK&language=en&country=US
If you like AMAT you will love AIXG
Help?
Good man, Robo - Wildebeests spirits still everywhere! DOW 20k soon. I like the Auburn girl's "bang me" smile.
I am not chumbawamba.
On the daily chart :
SP500 / DOW etc. bearish signals continue
USD and VIX bullish warnings continue
http://www.zerohedge.com/forum/market-outlook-0
I agree with your analysis. You have the best vatar on Zero Hedge.
Hey Robo, I would absolutely LOVE to hear(read) your take on Robert Prechter.
And if his chest had been a cannon, Gordon_Gekko would have fired his heart at Robert Prechter ... for hate's sake, he spits his last breath at him!
It's "Nintendo," fool. For heaven's sake, man, didn't you have a childhood?
Robot, You know I actually look for your articles, you know you are darn good. For the Shippers, The Lemmings chased after the global growth plays cuz of China's Econ Numbers...BUT everyone missed the fact that China Banks have already shoot their wad for Stimulus loan money, and even went over it in loans...China Govt not happy about that. AND Copper imports down big time, they are thinking of even trying to export it...the ships have the speculators in them flipping dayrates as the Grain Delieveries start to slow down...and pile up over in Aussie New Castle Port with construction problems...but NO global growth demand.....OK OK NOW HERE IS SOMETHING FUN...THE BOTS GAME for the last few days, on the SPX minute chart watch the Fibo 610MA intraday...our Rallies have been starting right on them...appears the game plan is let the market drift, buy at the 610MA or just around it and dump into close....the daily milking by someone it appears....btw I hate the Zebra pic..poor animal, anything nicer?
This makes tooooo much sense.