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PIIGS On The Verge of Insolvency. Investors Celebrate By Buying REITs and Brokers
Once again, the algospasms have turned many funds into dust as those attempting to short brokerage stocks, REITs, etc. in front of the European implosion are getting killed. Clearly, investors are voting that U.S. commercial real estate is the last bastion of safety, and the primary growth industry in 2011 will be stock trading.
While China's economy is on the verge of a meltdown, Europe is already close to falling into the vortex of massive bear raids, everyone is clamoring to own U.S. real estate:
While the Gulf Coast gets engulfed in an oil slick, most oil service companies are most assured to be litigated out of business, and as a result, our dependency on foreign oil will increase to 95%, resulting in $200/bbl oil prices, which by default means our economy can only continue if everyone starts trading stocks for a living:
Meanwhile epic squeezes continue, as Bank of the Ozarks still has 30% of its shares sold short with 40 days to cover:
And First Solar took off like a scalded dog after the expected earnings warning failed to materialize:
Another day, another month-end tape paint.
No doubt, anyone caught without holding an outsized position in REITs at the end of April is likely to lose their jobs....
They either "make the numbah" at quarter end, or lose out on the chance to grab a hold of Paris Hilton....
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You forgot National Bank of Greece (NBG):
Told you she's good for a quicky!
And First Solar upped its outlook, heating up the solar sector. Look out!
Leo, I must say, you can talk about your solar picks all you want providing you keep posting pictures of hot women.
I've been looking for a place to put my nose!
+1000!!! LMAO!
OMG!
Finally, pics! Who's the blonde, and is she available?
I'm very attractive, with a buttload of TZA.
Sorry. Down 6.37% today. Next! :-)
Where did you find the blond? I obviously am spending too much time on the financial blogs.
Lay off the financial blogs and search Google images. Find all sorts of treats.
LK. From now on don't waste your time on any more sunsets on Mykonos. OK? Thank you friend. +1000! Another corrupted ZH'er.
Well done, as always. I may be generally bearish on the overall economy, but these posts are always way better on up days. Lots of Nasdaq leaders look to be setting up to resume the uptrend.
I had a sheet metal supplier call me today and said he can't make payroll. Maybe I should have sent him an e-trade account application.
Skynet lit the fuse on REITs.
Volume was pathetic right up to the last 30 minutes when, apparently, the entire planet started covering shorts.
My sarcasm detector is reading "zero hedge", is it broke??
Speaking of oil, the stench from the oil spill wafted over New Orleans today. It is really quite overpowering and burns the eyes, and it might be my imagination but I could swear I'm about to puke up my lunch. I imagine there will be a few hundred thousand local residents filing a class action lawsuit over the health consequences of an extended period breathing crude oil fumes. Might be a good time to think about shorting oil companies, except for the fact that the cleanup bill will probably be added to the US taxpayer's tab.
BP is gonna eat that! Burn that shit!
Sure that wasn't just the usual smell of NO?
No, it usually smells like shit mixed with piss. This smell is definitely oil.
Roflmao! +100
....you forgot vomited crawdads....
"No, it usually smells like shit mixed with piss. This smell is definitely oil."
HAHAHAHAHAHA!
Homebuilders had another big day...don't forget about them...KBH, XHB, TOL, LEN, DHI. DHI expected to report a loss tomorrow of $.01...better get it now while its cheap!
GDP up 17.2% tomorrow.
Greek accounting is best.
Euro mood music..
http://www.youtube.com/watch?v=WL1hlzLsUaU
your weird† at least, i didn't have to do the age test.
do you like that, because they have running shoes on?
i'm still trying to figure out the dagger. he is so weird you want to stab him?
NOOOO
just so you know i am armed and dangerous.
get back to your new wife, serfy†
It's got a good beat and you can dance to it. I give it a 98 on Dick Clark American Bandstand "Rate-a-Record" system.
dick clark, was dear to my heart back in the 60's.
i wanted to be a go-go dancer, so bad.
my parents didn't agree. but i wanted the cage and the stage.
v... like this avatar better.
God bless them PIIGS:
Leo, given that your greek, that vid is shot on Mykonos, and that you posted it, is it possible that you're the John Turturo looking two-stepper whose smuggling some olives in the vid? If so, god bless you. If not, great vid anyway......
yo, sig-x:
this may look hot to you but back in the day, dawg, early 70's, mykonos was a jet set party stop, the greek st tropez. fabulous beaches, beautiful women and you partied like this but no one wore clothes. best of all possible worlds, dude.............................
Been there, no argument about. Paradise and Super Paradise definately rock during the day, as do the clubs at night. Believe me when i say i have envy far whoever that guy is......
slimy speedo guys, find them on the mediterranean, usually french†
I wonder if the lady on the left with the fish net hanging off her derriere is a fisherwoman, relaxing after a long day at sea catching the freshest seafood in Mykonos?
I give up I am buying Solar! For you Leo, for you.
Uh, is that Tyler?
They are killing the shorts, normally the news that came out yesterday and the day before would have been enough to crush the market and people would have betted on the downside. But since they are doing everything they can to make sure no one is shorting the market, then the market didn't turn into a blood bath. We aren't even an economy anymore, we are just a third world country which is propping up the capitalist and powerbrokers through outright theft. When all this falls inward, most of the ones who where responsible will have already left to parts unknown to start the cycle again.
It happens...
When all this falls inward, most of the ones who where responsible will have already left to parts unknown to start the cycle again.
Just tell me what island they retreat to. I'm ready to be a cabana boy and collect 1 oz silver coins for tips and look after the trophy wife while they are in meetings.
You will find them on Baffin Island. I'd book a flight as soon as possible because their is only one carrier that flies into this remote paradise. Just bring some pool wear and a cool set of shades and your ready to go. Just make sure your early because when they land the real estate is going through the roof!!! Remember where you read it first!
Yes, Bullwinkle, they scouted Baffin Island as part of the G7 meeting in Feb 2010
The top reasons G7 gang chose to meet in Canadian Far North town of Iqaluit on Baffin Island near Arctic Circle:
1. Any G7 finance minister who refuses to fall in line with gang can be set adrift on Arctic ice floe.
2. No need to refrigerate vodka. Reduces carbon footprint of G7 meeting.
3. Iqaluit's weekly newspaper, Nunatsiaq News, has no global finance reporter, no economic reporter, no stock market reporter, and no crime reporter.
4. Lisa Gregoire, who worked as a reporter in Iqaluit in the 1990s, said she thinks Iqaluit was chosen to avoid protestors, who won't be able to afford round-trip airfare ranging from $1,500 to $2,300.
5. G7 chose Iqaluit to avoid protestors who would not feel welcome in an area where hunters kill some 35,000 seals annually in the Nunavut Territory.
6. The G7 finance ministers chose Iqaluit to enjoy stress relief rest and relaxation of clubbing baby seals. The G7 finance ministers need to revive their animal spirits so they can return refreshed to continue clubbing taxpayers.
7. The G7 chose Iqaluit because the gang is on the run, as reported on last Saturady's America's Most Wanted TV show:
"Tonight we need your help. Interpol warns that the G7 gang has fled into Canada's Far North to plot their next robbery of taxpayers. The heat on this gang is so bad they must meet under cover of 24 hour darkness.
"The G7 is a notorious gang of international money launderers, counterfeiters, loan sharks, Ponzi princes, short changers, three-card Monte operators, turnstile jumpers, pension robbers, widow rapers, and multi-level marketing operators.
"We ask our viewers in the Canadian Arctic to be on the look-out for the G7 gang. But do not approach any of these desperadoes. Hide your women, children, and sled dogs.
"Please be alert for the smell of roast pig. Tips to our hot line say the G7 will feast on roasted PIGS. If you smell roasted PIGS, please phone the Royal Canadian Mounted Police or AMW's hot line. I know I can count on my Inuit friends in the frozen Arctic to do the right thing."
http://www.marketwatch.com/story/pack-your-parkas-finance-ministers-2010...
Now that's funny. Thanks for the link. I had no idea it was even under consideration for a G7 meeting.
Sunscreen, do not forget your sunscreen!!
http://www.youtube.com/watch?v=nsNlmiLJGIw
At first I did not get it. But after a while it hit me. Subtle and pretty clever.
how much per bullet and where can we chip in?
"Clearly, investors are voting that U.S. commercial real estate is the last bastion of safety, and the primary growth industry in 2011 will be stock trading."
You're my favorite with great prize-winning market commentary. Sort of like "we'll base our "green" economy on taking in each other's laundry."
Cleaning up oil spills and inspecting rigs after they have blown up will be a close second in growth industry area.
Oops forgot to mention - measuring abnormal methane levels in mines and giving them the thumbs up could be a close third..
Every time you feel the need to go short do these things first:
1. Count to 10
2. Say 100 times "the trend is my friend" (past one year)
3. Say three times "interest rates are at 0% and cash is a depreciating asset"
4. Bad "headlines" and brief dips are a buying opportunity
5. People who trade off news are suckers
6. No one cares about Greece unless they default and the European banks are in trouble.
7. The dollar has been screaming higher versus the Euro and gold is near an all time high, other precious metals are rising, and oil is over $80 per barrel. When the dollar starts to decline again all these commodities and stocks will go screaming higher.
8. The market can remain irrational longer than you I remain solvent.
9. Stocks can trade at triple digit P/Es, if they have an "E"
10. Don't short a bubble.
instant, your going extreme
changed your avatar, it's confusing but GOOD†
+100. Trying to call a top or bottom can cost you a fortune. Hold your nose and go with the trend, or stay in cash until reality sets in. Short positions just provide more to squeeze for the bulls.
if you are really short, you HAVE to hold your nose looking up at the bottom. Squeezing could be your last trend as a bull.
EURO buying support has returned ...
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