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Euro Tanks on Bailout, Hedge Funds Cheer and Buy REITs, Retailers, et al
How many times can they run the same play over and over? The Eurozone dive bombs, and investors immediately start buying REITs, retailers, and other assorted garbage. Maniacal trading has overtaken the stock exchanges as the 20-yr. old motion chasers are getting frantically horsewhipped by the FemBot portfolio managers to "buy whatever is going up, regardless of fundamentals".
Some spectacular runs in the REITs today:
"Investors" were clamoring for retail stocks today:
And, of course, there are always some left out of the party, or someone who arrives late.
Suddenly, in the last hour of trading, some guys desperate to "catch up" started dryhumping ABK.....
And who owns CNBC now? Is Comcast the new owner yet?
Anyone notice that many of the Anchorettes have been periodically missing the last couple of weeks?
No doubt, they are all being corralled to the Cosmetic Surgery Center for some makeovers. Soon, we'll be tuning in to a new set of supermodels reporting on the tape.
Note how Comcast is taking off like a scalded dog today:
All except for the recalcitrant Erin "B-Cups" Burnett, who is outright refusing to submit to the required boob job....
Thanks to Crooked Analyst over at Cap Stool for this picture.
Meanwhile, its that time of year, the girls are starting to rent temporary quarters out at The Hamptons in order to bag some 36-year old hedge fund superstar with "billions under management".
Take your pick.....
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DOW/SP500 intra day chart gives bullish signal. Interesting ...
MARKET UPDATES:
http://www.zerohedge.com/forum/latest-market-outlook-0
In areas of chart consolidation, you're always going to get bullish signals one day and bearish signals the next. It's a whipsaw. Put a buy order on top of the whipsaw and a sell order on the bottom. OCO.
The bottoming of this consolidation phase is near 1177' then, a several-year winding range between 1048 and 1228 is quite likely afterward.
The big thing is to watch the GBP/USD (GBP/JPY, too...) ahead of the election. There is a distinct de-coupling involved with the US/UK based on some serious wishful thinking, in my humbke opinion. The upcoming British elections jut may throw a monkey in the wrench of the whole she-bang.
LOL
Hey, the consumer is back! Personal savings rate back to 2007 lows and credit is contracting. When folks are done tapping their IRA's and 401(k)'s, what then?
There is always picking up cans on the side of the road, except in Washington. Washington has some of the cleanest roads I have ever seen.
Geez, you stomped me on that last pic! Nothing left to say..LOL!!!!!!!! A little tour of today's action at the Big Casino:
And regional banks got a boner:
Don't forget GMO. It'll take lots of molybdenum to equip the banksters' Mercedes S600s with armor plating capable of staving off the assorted pitchforks and molotov cocktails.
Robot
check out TRMA
run the junk in the oil spill sector
Might have to get the car ready to go for that Hamptons fare you have shown there.....quick zip through the Midtown Tunnel, onto the LIE, head south-east.....
....just missing the "billions under management" though! LOL!!!
...in that case, rent don't buy. LOL!!!
Invest in silicone.
Yasou, Leonidas!
Wonder if you can bounce a drachma off that...ah, never mind! LOL!
Okay, boys...
This one is for all of you non-believers who never buy stocks after they double or triple in value:
Sometimes you just got to ride the wave.
Leo: on fire with the chicks!
I've never heard of any of these companies...WTF are "SNDK", "Power-One" and "HOKU"? What do they produce? What do the sell? Swimming pool disinfectant? Porn video leasing services for client parties? Ground-up truck tires for playground surfacing?
Who knows? The U.S. is just chock full of outfits, with ballooning stock prices, which do essentially ZIP.
OTOH, it is a casino.
NLC approved for roll out of its microbe based dispersants in the gulf over the weekend.
Yet another business-to-be solely dependent on government contracts and money?
Big boost from HAL & BP clean up in the gulf. Theire the ones cleaning up this mess.
First, SLW opened above $20.
Second, Coinstar is loving the fact that people will no longer drive to pay for overpriced movies and popcorn.
Finally, Whole Foods is ready for you to buy them out of canned goods one last time.
"The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna."
Dr. Faber on Bloomberg:
http://www.bloomberg.com/apps/news?pid=20601010&sid=aMbfBKW.uKn4
That's funny also, you may be correct about what is happening behind the scenes of CNBC and the Comcast owner. I have a strange feeling that many of the anchors (Including Sue Herrera) won't be coming back. They are most likely going for a younger crowd a more controlled crowd.
AMMAAAAAANNNNDAAAAAAA.............!!!!!
Viva Amanda! - She is the new, no-nonsense voice on Wall Street.
In her Aussie voice I sense a stern disciplinarian. I believe she can discipline Wall Street.
Please Amanda, discipline Wall Street. Get your whip.
Whip it.
crack that whip
when a problem comes along
you must whip it
before the cream sits out too long
you must whip it
when something's going wrong
you must whip it
now whip it
into shape
shape it up
get straight
go forward
move ahead
try to detect it
it's not too late
to whip it
whip it good
Devo
http://www.youtube.com/watch?v=Xbt30UnzRWw
Funny. Thank you. ZHers are my family now.
Love the song. Going long pre-packaged 80s MTV DVDs (and anything Drury says and short anything she whips).
Excellent post, I mean pics...
r u guys the ex SEC employees that spent all day looking at porn?
I am betting on a diamond top formation. USD is getting stronger and stronger against the euro for example. Nasdaq100 will be killed for this, has no more imports from the tech toys from usa. Here in Portugal an iphone costs 600 euros?? almost 1000 dolars? WTF IS THIS? IN usa the same iphone costs 150 dolars... INSANE. Just short nasdaq100.
http://midasfinancialmarkets.blogspot.com/2010/05/update-diamond-formati...