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A Glitch In The Matrix
Everyone knows how traders have been chasing or selling stocks based exclusively on the action in the EUR/USD. Today, banks and oils were selling off most of the day as the EUR/USD was grinding back down to 1.50. However, there were a lot of greyhounds running today chasing the momentum meatball, signaling a slight "glitch" in The Matrix, meaning that we might be on the verge of breaking out to new highs, which may force many to jump back into the pool for the year end print.
Now, more than ever, trading desks are manned with hordes of "Grand Theft Auto" joystick gamers who are scanning hundreds of charts throughout the trading day trying to spot momentum.
Despite today's selloff, I see that some are still chasing the "must own" stocks like these:
And despite today's bounce in the dollar, look at the fertilizers go:
Even the "widow and orphan" utility stocks were getting gunned today:
And some single digit midgets in the gold and copper sector are getting some love today:
So short sellers beware....
I'm not selling anything yet.....
Here's a shot of some beauties from last night's Victoria's Secret Fashion Show...
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Damn, I took the red pill!
No seriously, anyone seen steve lately?
1. AMZN is a short squeeze.
2. Interesting that AAPL is not participating, Is it the end of the line?
3. Weak volume in SPY
4. Some crack in oil, a follow-up on no-news tomorrow may indicate unwinding.
noted each of these today as well. mkt seems very uncomfortable here... starting to inch towards the (shrinking) door... don't want to startle everyone...
How can you tell AMZN is a squeeze vs momo pump (seriously, I'm not trying to be a wiseass)
The shorts were burned a month+ ago and the outstanding shorts went from 22 to 17Million shares, and now they appear to be back to around 22M again. So there is lots of pressure pent up. It could be a pump, but who are the takers? Retail investors? Mutual Funds?
At the end it is just a gut feeling and may be wrong...
Thanks, I don't trade stocks anymore (just futures and commodities) but I just love watching this thing move. There are times during the day where it dominates the whole market.
Dixie honey, I am in your camp; do you htink any of these characters deal in stocks?
I don't think Dixie is a "honey". Read his full name phonetically.
Dixie honey, I am in your camp; do you think any of these characters deal in stocks?
I tried shorting AMZN today, got burned, but check this out though.
http://ycharts.com/companies/AMZN/income_statement
Keep in mind that we're not having the greatest year, and that normally AMZN has SEP quarter similar to MAR quarter. This year, however, SEP quarter was far above the MAR quarter. AMZN had margin around 3% it is my assumption that the acceleration in growth and expectation of margin growth due to Kindles are what's pushing up the interest, and it somewhat makes sense.
http://ycharts.com/companies/AMZN/balance_sheet
There's always a remote possibility that AMZN's numbers are shite, but I highly doubt it. I usually buy books on AMZN, and I saw that when the crash hit, everything was on deep discount, so I wouldn't be surprised that their sales increased. When things eased up a little, AMZN started slowly increasing prices. Then throw in there kindle with huge margin and you're talking acceleration in growth.
Speaking of Kindle, I couldn't think of a dumber device, this is why I expect Americans to buy shitload of them. Just think about it! You have paid almost $300 and you still don't have any books yet. Then you have to pay per each book, which is not on paper, you can't make notes in the same way that you can in the real book, put some physical notes in there. Also, most books I read I get for free. The source is called a local library. That costs me 0. I get a physical book and it didn't cost me a thing.
"But you can bring many many books with you." True, but I'm not aware of anyone who actually intends on reading a book that wants to be fliping between 500 or so books. Usually you sit down and you read 1 or 2 books.
Omi, Library, WTF is a library?!?
I have a Kindle and love it. Its not for people worried about money. It basically has free internet, although I never really use that. Its very seamless to buy and download a Kindle book, anywhere, anytime. Also, sometimes you can get a decent % break off some of the technical non-fiction that comes out on Kindle, plus the usual Financial Times, and papers, if you want.
Anyway,call me Boobus Americanus, but I luv it.
Oh and good luck dragging all those books in your "bug out" bag ;) a spart of your GOOD plan.
yea boobs, uncle ben just love americanus like that, choosing the next electronic fad
See? Don't even have to turn pages anymore. Closer to the Matrix every day.
"Speaking of Kindle, I couldn't think of a dumber device..."
I used to feel the same about PCs back in the "kit" days of Commodore and Sol and IMSCI.
All you could do with them was play lame games, and store recipes. And you did not dare use the recipes in the kitchen because you'd get flour and oil on the keyboard, etc.
But now PCs are pretty fun, cool, useful even necessary. I don't own a Kindle but maybe the designers and early adopters will mutate it over to a viable product?
I have little doubt that AMZN will correct (my best guess is Jan-March 2010), it is hard to determine when is the best time to short (the basis for shorting can be on margin-of-profit/competition/macro considerations). I personally put small shorts at 120x and had to cover. Now I have a small short in the 130x and will add to it at the mid 140x. It is one of those shorts that I think will take months to build and keep small primarily because it is subject to big squeezes (given the Billions tied up - around 6% of 62B).
For quicker shorting Oil is a much better target these days.
AMZN is legit - walmart is calling them out to the parking lot now.... ebay is shittin the bed, yahoo is a total whore and netflix is everyones darling because who doesnt like something fun in their mail during these shitty times??
But Kindle talks to me...and Libraries...not free.
When do we get a post with 'the women of Tiger Woods life'?
Isn't the whole point to inflate the system once more to the point where dollars on the sidelines have no choice but to jump back into the asset markets in fear of being inflated away and then pop one last time with the recognition that a new reserve will be needed and bye bye will the dollar go. Of course this event has the potential to spark other events like a serf uprising and Middle East War(No longer is oil sold in dollars). The reality is coming home to roast in America of a third world living standard. Figure this will be all culminating faster and faster as we approach 2012. Most people will accept to this as they have just had their bubble burst containing all their sweat equity. During this momentus moment I much rather be holding tangible money even if it is worth 50% less than it is now. However I don't think that will be the case because the ratio of tangible money to total population is a small factor probably between .10-.20 if even that. Albeit I don't have the raw data to back this up I imagine it is not a large factor approaching no where near 1. Thank god in my life consisting of 25 revolutions/trips around the sun I am no longer beholden to false ideology, superstitions, false knowledge, and false fable and fairy tales.
A wise man once said the World is like a very very old and ugly woman who puts on her best wares and makeup in order to attract people to fornicate with her. Sadly most of us do but to those who see past the glitz and glitter and see the world for what it is an very, very old and ugly woman,
Good Luck to all and God bless!
"I am no longer beholden to false ideology, superstitions, false knowledge, and false fable and fairy tales."
Oh, child, you think you are wise, but you are not. It is all well and good that you have freed yourself from the Matrix; unfortunately, the mass of the populace with whom you revolve around aforementioned solar mass remain within its confines. So even though you know about the Matrix, the Matrix can still kill you.
Actually, there is no "money on the sidelines". See http://www.zerohedge.com/article/money-sidelines-fallacy
Classic, man. Spilt my coffee on that one.
Robodude.....you're killin' me. Just spit up half a swig of Heineken Light.
he gonna think twice before chasin' shawty
I can't LOL loud enough!!! ouch it hurts...
Have to keep everything hunky dory for Ben's big confirmation.
Love the six fingered hottie!
I think Robo's point was that, following the VS fashion show, the six-fingered hottie is what caused the sell-off in banks, oils and the EUR/USD.
Also, if one felt inclined to run "Grand Theft Auto" through a SPARC, would it be all that different than the trading we're seeing right now?
wal-mart started a price war with gamestop today and ohhh boy GME took a beating worse than those cops in Grand Theft Auto. Looks like AMZN might join the fun. Shoppers are so price conscious. Maybe that 5.5% yield on ConEd (ED) is lookin pretty good ???
I guess bras come in all sizes
http://4.bp.blogspot.com/_9DtZiX_Qfgs/SSP4bktMhJI/AAAAAAAAEPs/oC-HbcATqI4/s1600-h/mensbra01.jpg
BRO!
MANZERE!
Ed Harrison, Creditwritedowns.com, reports privately held bank in Cleveland declared BK today.
The parent company of Amtrust...
Oh, but don't worry Amtrust the bank (you know the subsidary of the parent) wasn't included. I am sure it's all good there...They've been under an regulatory order for more than a year so obviously FDIC had a hell of a time finding any buyers.
At least we still have the Browns... err, wait a minute.
http://www.youtube.com/watch?v=ysmLA5TqbIY
"Despite today's selloff..."
Welcome to EquityWorld 2009, where a 0.03% and 0.42% gain in the SPX and NDX, respectively, are considered a selloff. Yeah, I know the Dow was down 0.18%. Still, it's like Robo is subconsciuosly been conditioned, as have we all, that anything less than a 1.5% ramp is unacceptable.
Forget the glitch, enjoy the matrix:
http://www.vsallaccess.com/
http://www.cbs.com/specials/victorias_secret/
Don't know shit about individual stocks but take note about S&P for the rest of the week:
Thursday: floating about 1110.
Friday morning, about 30 minutes after opening: S&P = 1090 +/- 5.
Why? go ask the bots. The real ones.
I can feel the vibes; incredible incandescent insights
Thanks for the display of air-heads. And the girls are pretty too!
I shot an arrow into the air....
Can't say where it landed because Marla will whack my pee-pee.
"Glitch in the matrix," "Boobus Americ-anus." Classic stuff.
On the substance: I don't think it's a glitch in the matrix that in the year end we'll get money managers buying in in the surging market because of risk aversion. It's not a glitch in the matrix. It is the matrix.
Robo, That PhotoShop work on Tiger+wife is so good it must have been lifted from TMZ.....Anyone who has traveled to Scandinavia has seen literally thousands of women with these awesome looks. Don't know if there is a SPARC working between the ears though. So far the 'easy on the eyes' rating is a +11. IMHO Tiger needs to keep his wood in the bag and use the Serenity Prayer to keep it there. We have everyone cheating at all levels of society and we really hoped he had better judgement. Good news is God forgives so it's just the dumb humans who have problems with coughing up real forgiveness.
Hey, don't knock CGR. I've been holding that puppy for 5 years (stupid me?). It used to be a $2 stock when gold was a lot lower, and now it has a new CEO (ex Kinross) who brought some cash for a PP with him. Nice little Canadian gold miner with some interesting exploration properties to boot, in safe areas.
Yes, it looks like another leg up in this market has started. But how far will it take us? And when will it be right to get out?
The timing signals will guide us again to profit from the move. Because they can tell an investor when to get in and when to get out.
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