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Another Day, More Breakouts
The cacophony of craziness surrounding the impending implosion of the Euro has become deafening, now rivaling the decibel levels heard inside the New Orleans Superdome. Yet stocks repeatedly shuck off this hysteria and climb higher and higher.
It seems that the "Algo/Igor/Robo" machines have now latched on to a new algorithm:
1) If the Euro crashes, buy consumer discretionary stocks and tech stocks
2) If the housing starts reach record lows, buy homebuilders
3) If banks start giving automatic 30% haircuts on mortgages, buy BAC, WFC, STI, etc.
4) The longer the unemployment rate stays at 10%, buy companies that sell $5,000 entertainment systems and $175 yoga outfits.
Check these out:
Lululemon up 12% on world record volume today:
And don't forget the acute shortage of high end stereo gear these days..
And it looks like the fundies are already making sure they have overweight allocations in some key "must own" stocks for the quarter end statement print.
Some guys are getting desperate. Trying to "make their year" buying stocks like Carmike Cinemas.
Once again, summer is approaching.
Hamptons season is right around the corner.
At its all about "making the number" for quarter end.
So you have unlimited spending money for fancy cars, booze, and Ukranian escorts.
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Dell is buggering out of china. I think they finally figured out they ran out of asian cultures to screw over. Is always nice to have a break up/conflict when you're not selling shit anyway.
Robo,
Short-sellers are getting creamed all over the place as nothing goes down. Noticed that optical networking sector is jumping awaiting the trillion-device net. Check it out (sold this pos at $8, went down to $2 and right back up!):
And check out Finisar (FNSR):
Of course, things are getting bubbly in Canada - or should I say LULU:
Yoga is the new, new thing...lol!
More hubris from Leo. NOTHING goes down?
Shorts had a great day in the dead mortgage insurance space today - RDN, down 13% from high of the day to close, PMI down 16% from high to close. These names are moving +/- 20% a day. Lots of great action.
ABK, well, they were seized by their regulator, down 30% at one point.
Hubris is in your shorts, I commented on those pigs yesterday on Robo's thread. Whether you like it or not, the liquidity tsunami keeps lifting risk assets. I've been telling you to keep buying them dips. Now public pensions are leveraging and shoving billions into hedge funds - even more liquidity (on leverage). Keep shorting those pos...lol...
Leo i got bad news for you man -- every single human on the planet is telling ppl to buy dips. This "the government will make all assets worth infinity" call is in no way unique. I am pretty sure everyone trafficking this site reads Investors Business Daily just like you do. If not, they likely get a call from one of the 49 wall street houses, all of whom are looking for higher equity prices. If not, they are probably reading a report from one of the 62 economists, all of whom uniformly believe we are in a sustainable recovery.
When as fodder for your argument you are linking to a CNBC article entitled "Nothing Goes Down", I get a reasonably good feeling everything is pretty close to going down.
That's right, and those pensions will loose billions to give you opportunity to ask questions about right aproach to investments of funds by pension plans, private or governmetal, and what to do with all those screwed up retirees!
My China short has been doing well. I guess those capital flow restrictions are keeping the jackals at bay.
Thanks, Leo.
The NYA was within a hairsbreadth of breaking out to new highs.
I think the boyz shanked the tape at the end of the day to incite a bout of panic selling before some announcement out of the ECB.
I saw that FSLR held up pretty well today, although it was upgraded by a Chop House.
Any breakout in crude over $82 is likely to send these solar plays flying off the lows.
Markets do not top with so many new highs (544 on NYSE today).
It has to be Ukrainian escorts?
/:
how do you post a picture?
Copy the link of your pic (CTL-C), go to your toolbar, directly above where you write your comment, go right next to the hook (square shape), click on it and paste your link there (CTL-V), click on insert et voila, MAGIC. It's easy.
WOOOOO daddy. Lots of pensioners and 401K holders are gonna be sooooore when this one reverts back to the mean...
Leo,
I don't care what others say about you.
Your pics are great, too. Even your analysis of this pig called a market is useful.
Thank you.
(waiting for pratical thin-film solar to coat my sails, so I can get the flock outta Dodge)
Robo, you rule, too! Was jonesin for your aftermarket pics, errr, report.
Translation: Bridge pose
Ardha PadmasanaTranslation: Half Lotus pose
but she is only about a quarter lotus. cute though.
robo yoga outfits don't cost $175. well the ones that Prada makes does.
lulu's is cheap shit.
I bought my girlfriend yoga pants and a top at LULU, and it set me back exactly $175....
LOL...
you got ripped, thats why the stock is breaking out.
the way i see it you really don't want a lot of clothes on cause you work up a sweat, and if she does that hot yoga you just want to rip all your clothes off your so damn hot. it is the pitch you need yoga cloths, plus cloths rub. cause their is no other way to make money off of yoga.
like the girl doing the bridge pose - bikini†
i kind of like this little man cave we got goin guyz.
i think germany is just fine with the euro dropping.
can anybody help me to short the euro or the dollar?
i have no idea how to do it, but i got my TDamericatrade account ready to go.
i just know i could make some money. maybe not. i have a reserve that is safe.
this is my little cloud. cause i know i can access all postings, 24/7. really thank you ZH for publishing me. i really would donate, i so want to donate, but can't use PayPal. refuse. hey authomatic earth gives you a POB and sent my donation and we are friends. really i would like to donate to ZH. quite frankly i have never run into anything that has affected my life so much, as this website has done over the last 6 months. i think your brilliant. as an artist the digital pixal presentation is difficult in just 2-D. but then again our 5 senses have to get creative to blend. i call it zen fusion. you know graffiti, calligraphy, jpeg's wow i think your a new media. robo's page is my favorite. the blend, yeah you let him loose with the brush. it is the man cave. kiss kiss
POOF‡
The pics of those Ukrainian escorts don't look like they are very happy. Maybe they should take up yoga!?
Nobody is happy getting pounded in the rear for 50 bucks a pop.
Well they're really young, one's even wearing diapers! Namaste.
Talking about the Euro dump, could this be an EU strategy to revive their export economy after China wrecked them? US$ up and the CHY up with it. That makes that Ukrainian chick look a little more attractive......maybe not.
Why pay the $50 for the ass pounding. Helicopter Ben is pounding us all for free!
If we can break down through the 200MA on the hourly & hold than a retrace to the 1075 area is likely
PPT would want to get cracking as we are beginning to break down
AUD/USD at key support too...will the bears get the bulls to retreat?
That was the top boys and girls, its the bulls turn to get theirs. They Banksters can make it go down everyday too, this up 1% a week is getting to be a real bore. These last 30 trading days or so will get engulfed very quickly, in large chunks.
Hope so El Hosel...I was getting excited there but this 200MA on the hourly is proving formidable for the time being
This "rhino horn" off the Feb low is technicall joke, its going to get real nasty, real fast. Bonds,currencies,oil, you name it they are all making key reversals right here... apparently the koolaide gang has not noticed yet.
http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&yr=1&mn=0&dy=0&id=p33615742951&r=324&cmd=sendchart
http://stockcharts.com/h-sc/ui?s=TLT&p=W&yr=3&mn=0&dy=0&id=t53359561107&r=8117&cmd=sendchart
http://stockcharts.com/h-sc/ui?s=OIH&p=D&yr=0&mn=10&dy=0&id=t12306263317&r=7781&cmd=sendchart
Well, I like your drink selection except:
No Jack Daniel's, or Marker's Mark, or Knob Creek. You can't live in the Hamptons unless you can make a decent Mint Julep and Hot Toddy. There are certain niceties to be observed.
Cheers.
Mark Beck
Minor observation: Mint juleps are made with bourbon, so Maker's and KC can stay. That blasphemous JD whiskey - not in a julep. Not like those Yankees at the Hamptons would know this, but... :-)
Ah, the snake charmers stopped the tune today.
Things are not very good in Euroland, debt fissures all over the place. IMF is our money again. The fact is that most people do not understand the issue around debt. A bazillion smackeroos owed is about as easy to grasp as a light year. Japan, what will it take to drive that land of the rising sun to set. Look at the debt wall they have and they keep eating...not fish anymore, Micky D's.
Mr Leo K has been more right than many- for whatever reason. But that too may be ending...as bonds are the tell now. The last auction was gruel. And as the amount grows inexorably, then the fit hits the shan. Watch out. When not if.
I am amazed at the negativeness concerning the Euro. Why is Europe, who is trying to live within a budget, a worse investment than the reckless US policies that undermine the dollar - especially since there are a trillion more $s than last summer, but not more Euros.
There's also trillions more $s where Ben comes from, which he will produce faster than almost anyone even here can even imagine when the time comes. That is why I have been and am still bullish on the stock market.
Good luck to those who want to stay short the Euro.
I guess Igor won again today