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Greek Crisis Staved Off, Riverboat Gambling Resumes With A Vengeance
The slightest recovery in the EUR/USD unleashed another round of Animal Spirits, this time the Riverboaters started dryhumping junior bank stocks, credit card companies, and more consumer stocks.
Here's a sample of some of the garbage bin runs today. All of them small banks choking on CRE probably on the verge of insolvency.
Note the huge volume surges on these, as many fund managers who missed the consumer discretionary meltup are now woefully behind their peers, so they need to "make their year" by dumpster diving for the "worst of the worst":
Confirmed breakouts in oil and gas today:
And don't forget the beleagured credit card stocks, everyone wanted those today:
And one of the world's largest derivative trading casinos masquerading as a retailer. Eddie Lampert must be making a fortune from his trading desk:
And exploding PC sales means more disk drives. The fabled "v-shaped 2nd half recovery" is here:
And there remains an acute shortage of Ugg boots:
New highs in homebuilders and REITs
Some squeezes in drug stocks:
Not much else to say, other than its onward and upward with new highs across the board.
The party resumes....
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A 50 PE is the new black.
Comical.
"Banksters Gone Wild!"
Order the video today!
For the low, low price of only $14 Trillion!
(Except instead of lifting up their shirts to show their breasts, they are opening up their wallets and waving their bonus checks to proudly and lewdly show off OUR stolen money!)
"Hello. Yes I would like to order the brunette in the middle, please."
"Two for one special? Okay the blonde in the red also."
"Client #9."
"I should have a credit card number on file."
"Elliot S. that is correct."
"In about an hour? Perfect. Thanks."
<click>
Those girls live in 'Silicon Valley' - Botox Street - #69 i believe, its next door to the VD clinic and across the road from divorce courts.
My but Iv'e become cynical - on everything. Time to take off the shoes and walk on wet grass
I hate being a lesbian trapped in a man's body.
Always check the trans-sexual and lesbian boxes in Goobermint questionaires.
You forgot RUT.
Which I am always in, after your posts.
always good to know robertrader and the SEC guys .. look for the same jollys
birds of a feather lol
but these are for fun . and those otherguys are dirty slime balls
of course no irony here , maybe the sec was following zero hedge and got caught
and sandisk (SNDK) deserves an honorable mention for its two day parabolic move. another day like that and i'm going to be tempted to short some.
http://www.robgalbraith.com/data/1/rec_imgs/2148_ducati_airbrush.jpg
Dont forget HOG. I mean with 10% unemployment and press releases about idling production, why wouldnt it be at a 52 week high?
A bank with a market cap of $10mil after 400+% 3-day run? No, even Gambini-sponsored boiler rooms can't quite pull something like this one...
DECK = CROX, but time-shifted by 2.5 years
If the last 2 pictures are part of "look for the dragqueen" my money is on picture 1 number 2, 3 or 4.
I think it's #3... Adam's Apple is conspicuously covered.
Adam's Apples can be shaved.
it's not as easy as it looks
http://www.youtube.com/watch?v=Zdo0cpllaIA
then there's tranny wreck
http://www.youtube.com/watch?v=NLQhdEW-xN4
I think Robo just scooped the internet and released the artsy photos of the "Hamptons Hedgies Animal Spirits" Ukrane Escorts for most glorious celebration weekend. An early meeting was called amongst the riverboaters to see if a black market could be made (and insured) and algogasmed for a spare stack of rubles somebody found.
The one with the blue hair in the middle has very nice teeth.
The pink hatted one next to her is kinda ewww.
the algo is :
if (short_ratio > 0.2 and short_ratio<3) do_buy()
else if(short_ratio>=3 and short_ratio < 7) do_squeeze()
else if(short_ratio >= 7) HAH_HAH_HAH()
REITs going parabolic
Retailers of all stripes running hard.
Saks and B.J. Wholesale
SKS still has 43% of the float sold short with about 10 days to cover.
http://www.youtube.com/watch?v=db94lyKYOcg
Pier One (PIR) was around 11 cents last march. Closed today at 9.44, an 86x move.
All those new houses need to be furnished with pillows and trinkets!
big.chart
Love it! Riverboaters, wildebeests and other animal spirits crushing everything in front of them! Every ho needs V-N-O!
Retail (as measured by RTH) is either at all-time high or only a dollar and change away, depending on the chart site you look at. This has to be a great time to load up on retail! I mean, look at that beautiful parabolic arc thats taking shape - at this rate, we'll be getting 100% gains/week in no time!
Exciting time to be crazy bullish, I tell you.
Commentary
A Global Tsunami
Nouriel Roubini, Camilla Webster and Shai Baitel 04.22.10, 12:00 PM ET
An Israeli military strike in Iran would have an earthquake-like impact on today's fragile global economy, and the potential for conflict is not entirely remote.
"Israel cannot live with a reality of a nuclear Iran threat," says Israel's Vice Prime Minister Silvan Shalom. On the other hand, Israel doesn't refer explicitly to a possibility of attack. This ambiguity notwithstanding, Shalom states that Iran, which in his view continues its efforts to obtain nuclear capabilities, is "taking advantage of the weakness of the international community and of the ongoing struggle over hegemony in the Middle East between the United States [on one hand, and] Russia and China [on the other]."
So for Israel it may soon be time for difficult decisions while Iran continues along the path toward nuclear capability. Israeli military action would cause soaring oil prices that would generate financial, political and ideological unrest around the world.
Today the world is barely recovering from a recent severe economic and financial crisis. The collapse of Lehman Brothers was not the only factor that caused a global recession in late 2008; by summer 2008 oil had soared to $145 a barrel. Such rising crude prices were a huge shock to the terms of trade and the real incomes of all the oil-importing countries including the U.S., most of Europe, Japan, China and India. As the price of oil rose sharply, the global economy tipped into a deep recession; and it will spiral downward again alongside a rise in oil prices.
If Israel attacks nuclear facilities in Iran, oil is likely to catapult to $140 a barrel in a matter of days. There are historical precedents for such extreme oil price increases during periods of violence in the Middle East. We need only look back at the 2006 Lebanon War--Israel's armed conflict with Hezbollah that was a fairly local conflict with no direct or indirect impact on the supply of oil. Oil jumped during the war to $66 a barrel. During the 1973 Yom Kippur War, the Iranian revolution of 1979, the Iraq-Iran war, the Iraq invasion of Kuwait in 1990 and the Second Intifada in 2000, crude oil soared and on some occasions more than doubled in price.
Israel's concern right now is introducing meaningful U.N. sanctions against Iran over its uranium enrichment program. Such sanctions are not possible unless Russia and China sign on. Shalom bemoans that the Iranian summit on nuclear disarmament is "an explicit provocation against the free world which is not acting determinedly against Iranian nuclear ambitions." Last weekend Adm. Mike Mullen, chairman of the U.S. Joint Chiefs of Staff, said military action was a last resort. Critics have voiced their concerns over the lack of clear policy from the U.S. for months. U.S. strategists overall believe that attacking Iran--before having given a chance for muscular sanctions to work--would be a major mistake. Many in the U.S. also take the view that even a nuclear Iran is a problem that can be managed via appropriate and credible deterrence. The U.S. is currently against an Israeli attack in Iran; therefore, a unilateral Israeli attack would further severely strain the relations between Israel and the U.S.
The grave consequences of an Israeli attack would break down into three rings like a series of deadly waves shooting out from the epicenter of an earthquake. These rings represent countries, nations and interest groups. Their placement represents the proximity to the center of the eruption.
Some of Israel's neighbors form the first ring, which is the "epicenter" of the quake or attack. They include Lebanon, Egypt, the Palestinian Authority and Jordan.
These nations currently harbor resentment against an Israel seen as unwilling to make the necessary compromises to achieve a lasting peace. Together this group of countries represents the key peace process players. These nations do not support Iran and fear it could obtain nuclear weapons capability. They contain radical elements, such as Hezbollah in Lebanon and Hamas in Gaza, which are supported by Iran both ideologically and financially. These elements are extreme enough and wield enough influence over the people to endanger the current moderate regimes of some of these Muslim countries.
Following an Israeli attack, Iran would most likely retaliate against Israel with long-range missiles. The attack would ignite an immediate uproar of nationalism in Islamic countries--especially on the "Arab Street"--as a strong Muslim sentiment prevails in these countries. This action in turn will activate Hezbollah, Hamas and local sleeper cells, severely damaging regional economies and political stability. We are also likely to see other Iran proxies become active in the other rings in a later phase. The fear premium in oil prices would spike, as Iran would unleash its proxies in these countries, as well as sending some missiles toward Israel.
Countries who fear Iranian hegemony in the region from both an economic and political standpoint--such as Iraq, Pakistan, Afghanistan, Turkey and Saudi Arabia--are likely to also suffer aftershock effects of the attack.
In the second phase Iran is likely to strike back with an attempted blockade of the Strait of Hormuz, creating a damaging bottleneck for oil shipments out of the Persian Gulf. Like a cascade, Saudi Arabia and the Arab Gulf States would be drawn into the conflict as their own security and business interests are impacted. Even if Iran did not successfully block the Strait of Hormuz, just the threat of such a blockage--in the form of a few Iranian missiles launched against oil tankers in the Strait--would send oil prices racing higher.
A bigger financial and economic Tsunami wave would gain strength if Iran were to react by imposing a global embargo on oil exports. By curtailing oil production and restricting supply for exports for a few months, together with the other factors described above, the "fear premium" would likely double oil prices. This type of action would have sweeping consequences on countries such as the U.S., China, India, Russia, Japan, the E.U. and other major industrial nations. This ring is characterized by its dependence on foreign oil, its influence and execution of the rules of engagement in war and its political interests in the Middle East. These are states whose financial markets would react severely following major "Richter scale" events like a military strike in Iran.
Why tsunami? If oil reaches even $120 a barrel, let alone a higher level, the global economy would tip again into a catastrophic global recession. While oil-exporting Arab states and Russia would initially benefit from surging oil prices, the benefit would be very short-lived. Just as it did in 2008, a global recession would eventually cause oil prices to collapse. Oil receded to $30 a barrel after the global economy faltered and Russia experienced a sharply negative growth in 2009. That boom-bust cycle would repeat itself following an Israeli attack.
Israel is merely a blip on China's political radar, but China would certainly feel the brunt of an attack in Iran thousands of miles away. The Chinese social and political stability is conditional on China achieving at least 8% growth per year. If China were to fall into a near recession again over an oil price crisis, severe social unrest among its 1.3 billion inhabitants would only be a matter of time.
The Israeli Vice Prime Minister Shalom believes that sanctions in Iran can be effective if they are tangible and meaningful and well coordinated. "Sanctions can change a state of affairs, such as witnessed in the state of South Africa, Libya and North Korea. However, right now the sanctions are not effective because of the refusal of Russia and China to join them."
Iran's nuclear summit last weekend closed with a statement calling for Israel to join the Non-Proliferation Treaty (NPT), but Israel is convinced that its existence is threatened by a nuclear Iran. A former high-ranking Israeli official shared the seismograph survey of the standoff by explaining: "You don't quite understand how fragile the situation is."
Time to invest in bicycle and motorcyle stocks.
That little country is destabilizing the whole of the middle east and we are the United States of Israel. (A former high-ranking Israeli official shared the seismograph survey of the standoff by explaining: "You don't quite understand how fragile the situation is.") Yea YOU should disappear, if they did the world would be a better place. Why do you think we are in IRAQ? Ben Laden? Ok sure. Now I know I'm not going to win any Jewish friends HOWEVER I have NOTHING against any American Jew or the people of Israel it is their sinister government and OURS that need to be overthrown.
American Amen, yipcarl.
but most important... will they greek girls still be shaking their asses when the shit hits the fan? or should i say... when the music stops?
Lattice Semiconductor (LSCC) blasted off today following a strong ER (don't say I didn't warn you):
Rambus and Rubicon also had strong days:
And Ericson is breaking higher (remember when they wrote this company off?):
Finally, Greece is entering the Twilight Zone, but something tells me 2010 will be a vintage year for tourism, so us horny suckers will still end up paying 15 to 20 euros a day for a beach chair and hopefully get some eye candy:
What's going on with some of those Chinese Solars? Some of them have gone nowhere YTD.
Sitting tight on my Chinese solars, and not budging an inch. In fact, I would like to add more on weakness, but they've already started trending up.
nice call on LSCC leo. you had it pegged a while ago. you may want to put SWKS on your radar.
Will keep it on my radar, thanks.
Good call on Lattice Leo.
Robot, thanks for bringing up DECK. Must have missed my radar. 2011/12 puts if available look mighty attractive to me. Gotta go start a buy UGGly shoes campaign !!
Also NFLX, WYNN looking rather smart lately.
America and its winning ways. Never discount this country.
Check out BOOT:
America will be DECKed out in BOOTs this weekend.
Let the party rock on.
Once the HFT TBTF's have all the suckers they are going to pull the plug. Mutual funds are going to get stuck holding the bag. All the pension funds that are going to get killed. It's just a damn shame.
If sales and earnings are so great, and everything is sunshine lollipops and rainbows, why are we always hearing rumblings of discontent from the unemployed masses on Main Street?
Or ARE we? Maybe they don't exist! I'm beginning to wonder if those of us here in blogo-land are all doomers-and-gloomers and that in reality Keynes was right and simply endlessly creating more and more demand and more and more 'money' will endlessly create self-sustaining prosperity forever and ever...
Maybe we should get out more, open our eyes and SEE the prosperity?
UK Job seeker, 21, with 3 A-levels and 10 GCSEs, kills herself after she was rejected for 200 jobs:
http://www.dailymail.co.uk/news/article-1267953/Job-seeker-Vicky-Harrison-commits-suicide-rejected-200-jobs.html
Germany Forcing Unemployed Women into Legalized Prostitution:
http://www.lifesitenews.com/ldn/2005/jan/05013106.html
Didja catch this?
The Greek Crisis Has Me Thinking About 1931This post originally appeared at Credit Writedowns.
The news about Greece’s bailout has me thinking a lot about Creditanstalt, the Austrian bank which collapsed in 1931.
The gold and silver break out was priceless.
http://www.kitco.com/charts/livesilver.html
I was born in Chicago. I'm a board certified physician. I speak English. I'm not active politically but I like to keep informed. It appears my native land is intent on committing economic, social, and political suicide. Australia seems like a good alternative. Any thoughts?
If you don't mind cultural suicide, by all means go.
Australia is fine if small. I don't know what is meant by cultural suicide.
They only place I have seen it compared to is Canada.
Obviously I don't care about "culture" I'm an American. What I do care about is freedom; and not having the government intrude into every aspect of my being. I don't care so much about cradle to grave government programs, but my country is rapidly turning into a Fascist Internment Camp dominated by unions, the unemployed, illegal Hispanic Immigrants, and a ruling oligarchy of Socialist Demagogues.
Then Australia is NOT for you. It has rapidly become a police state over the past decade and a half. Just try driving there and see how many day's you can outsmart the speed and red light camera's. 3km/hr over the limit and you're done for a few hundi. A minute on an expired meter and you're done for another hundi. Taxes are high, living expenses are through the roof, no gun ownership, no land ownership (99.99% Crown) and wages suck compared to the US (at least in hi Tech).
I left 8 years ago. Frequently go back for visits. Mates and family can't believe the standard of living I have in the US.
Better the devil you know - we need Doctors but the above post is right - even the left is Far right. Its expensive and getting worse. Got $500,000 for a hovel 2hrs from cities, like sitting in traffic every day, like paying $4.50 a gallon for gas, spending $300 / week on basic food and $1,000 just to register a car - come over mate and mingle with the boat people. America may be losing some luster but its still the one with some freedom left.
Well, this is disappointing. The official Australian Government web site made a good case for moving to the land down under, including a welcoming attitude for skilled immigrants. I then found another site from a legit appearing company that places docs in Australia and helped take care of Visas and all the paperwork. The salary ranges looked pretty good. But what I didn't know was about cost of living, etc. I was thinking, to start, I would live and work around Sydney, and explore from there. I still may do this on a temporary basis, and see what's what.
Since this is a financial web site, and I'm thinking of fleeing the US, are there any taxes or restrictions I should know about regarding transferring my money or precious metals out of the country? Do I just put my coin collection in a suitcase? The silver in particular is quite heavy.
I've transfered money back without problems through wire transfers, especially if it's under $10k. You must declare anything over $10k if carrying it into OZ. As for PM's, I don't really know but I bet there's an import tax.
So what's the problem? You'll be the Doc at FEMA Camp #256. Lucky boy!
"Greetings from the Humungus. The Lord Humungus! The Warrior of the Wasteland! The Ayatollah of Rock and Rolla!"
http://www.youtube.com/watch?v=_TL4XZdyo3g
yep doc, i am moving to the land of freemind.
Who's buying all these new PCs? These new tech doodads? Why are even American restaurants and big-box retailers reportedly filled night after night?
Moreover, WHAT are they buying them with? USD? Foreign currencies? I know that here in Taiwan, spending is still going great guns, even if Americans themselves are not spending...still, I can tell you that the feeling here is that debt levels for the average Taiwanese are rising and that savings are being whittled down by shopping...
Bailout bucks. The federal facility I work at was outfitted with all new 23 in LCD monitors, new PC's, routers , switchs, lions, tigers and bears, oh my!
No kidding.
Things are just heating up, enjoy your weekend!
These Greek protests are really getting me down.
Fuck it, I'm going long a ton of stocks... it just don't matter anymore. I'll even settle for the one on the left at the 28 sec. mark.
Arrrrrrrrrrrrrhhhhaaaaghhhhhhhhhhhhhhhhhh!
That's it, I'm going down to the all night Doctors on Duty and get a prostate exam. It's an old Greek tradition. New meaning to Delphian Oracle.
Repeat after me....
It's not fucking fair, it's not fucking fair, its not.....
This is the way Socialism is supposed to be! Do You Hear Me!
Listen!
Gimme gimme gimme! Nobody cares if they don't take Euros anymore! Me me me me me me me
Arrragggghhhhhhhhggggggggggggggggghhhhhhhhh
Please, I don't want my meds yet, I don't wanna go to bed. Pleeeeeeeeeesssssssuh
I hear you, believe me. Sarcastic comments, and kudos to Leo's vids and Robo's photos aside, I suspect that some 'bad' occurrence this weekend or even better, on Monday might re-introduce the concept of risk to the markets. PM options expire next Wednesday, and I haven't seen charts like this since end of 1999. I'm kind of guessing a quick,harsh selloff, then a final big parabolic blowoff on high volume over the next couple of months before reality finally sets in again.
Seriously, though, LTD's gone up faster over the past few months than Cisco did during the peak of the internet bubble. Is LTD really that good?
Al,
We might retest the 200 day m.a., but then they will bring her right back up. If such a selloff occurs, I will be buying more shares.
I agree. I think the break back to 200 is necessary to setup the big parabolic run-up/blow-off. But even with that, the current enthusiasm for some of these retail stocks seems way over done, even if the economy is somehow primed for massive recovery.
I am not touching REITS or retail stocks. Let the algos have their fun playing this scrap.
sigh - them girlz
Oh Leo, I may not share your optimism with respect to the market, but you post the BEST vids. Kudos man.
- yes Leo, but we've already been there.
http://www.youtube.com/watch?v=XvGetdBaUp0&feature=related
Bless you Leo may you never have a losing trade!
Fuck it, let's turn up the heat a notch:
no comment, long weekend i guess for some.
i just realized woman enjoy porn (soft) too†
"Here's a sample of some of the garbage bin runs today. All of them small banks choking on CRE probably on the verge of insolvency."
Another example local to me: http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximize...
Don't know how to post the images from the stock quotes, but the link should take you to information about First Mariner Bank, a Maryland Bank that has been under close supervision the last 18 months or so (an SEC enforcement action), has been forced to sell off profitable assets to restore regulatory capital levels, and has a Texas Ration of 61 (http://globaleconomicanalysis.blogspot.com/2010/04/how-safe-is-your-bank-texas-ratios-of_22.html) -- not horrendous but not very good. Their stock went up 24.11% today. In one freaking day. Just anecdotal evidence that supports Robo's point.
I think we have a stock market where prices are almost completely decoupled from fundamental values. My guess is this is a direct consequence of ZIRP. If it's impossible to earn interest on savings, ultimately a lot of dumb money goes to chasing yield, where it will be stolen by the big New York banks.
This is fine if you're 22 years old, on a gap year, on your parents' money. Retirement seems light-years away. No savings? No problem! No job? Flip them burgers! There's more where that came from.
Your videos ARE just like the real economy!!! (What do all these party animals actually DO??!...you know, for a living) If everyone is a consumer, who is doing the producing? How long will the few producers be satisfied with green pieces of paper? You can bet they'll soon want MORE of them, anyway...)
PRICE INFLATION, soaring price inflation has to be just around the corner.
Not driven by salary demands, not driven by a hot, productive economy. But by currency devaluations. By essentials in limited supply being chased by 8 billion consumers with armloads of pieces of green paper...
Fuck deflation. After all, it's only been DEBT DEFLATION, even in Japan - still the land of the $8.00 grapefruit. Sure, the market for CDOs, CMBS, MBS, CDSs, REITs, bonds of all kinds together with cars, houses, salad shooters and maybe Mykonos vacations will dry up.
But that other stuff? Stuff we need day to day? UP, up and away.
One day the partygoers will need to EAT.
(What do all these party animals actually DO??!...you know, for a living)
I suspect some of those ladies do extra-curricular activities on the side, getting paid in cash. Some of them have PhDs - Papa Has Doe. The majority are college students looking to have fun. Depression or no depression, the party herd will still flock to the Greek isles to get their fix.
leo your priceless, no one told me i had a PhD the whole time?
U mean Papa has a HELOC
Correction PhD =Papa has dough!
Australia's economy is over 50% consumer, home prices soaring, taxes high and have only escaped recession thanks to China. Any double dip and this baby goes pop like everyone else. I was in Oz March '08 when markets collapsed and its economy almost ground to a halt.
DOW chart threatening to break out.
MARKET UPDATES:
http://www.zerohedge.com/forum/latest-market-outlook-0
Interesting times!
FYI all on taxes...http://www.cnbc.com/id/36736921
Bubble bath. Who would buy stocks at these levels? GS being exposed for the Abacus chicanery, foreclosures up 16% from the last quarter? What a disconnect from reality.
Shake your money-maker....
By the way, there is so much more to Mykonos than Super Paradise. I like this, very well done:
Very nice indeed. Something like Bali, but soon likely to be even more affordable!
My girlfriend is twice as old as those girls, but, has a similar figure. She is geneticlally blessed. After watching the videos, I feel the urge to spend some time alone with her today...She wants to get married, but I've been holding out, only because she has younger kids, and I'm not up for that.