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Search and Destroy Options Week
Another classic. Well known fact that 95% of options trades are vaporized by Goldman Sachs during OpEx Racketeering Week. Wildebeast herds are spooked in opposite directions daily by various bullhorning and upgrading of key stocks by Chop Shops on the take.
Traders remain bewildered and confused by all the sirens, horns, and noise blaring from news desks and small time brokerage firms upgrading this and downngrading that.
Lowe's shanked yesterday, Home Depot rocketed up today. Short sellers gunning Target were found puking behind the dumpster like Gary Busey or Nick Nolte crawling around the beach alleys in Malibu.
Hilarous watching the herd moving back and forth based on whatever blurbs pop up on the Bloomberg feed:
Aug. 17 (Bloomberg) -- U.S. and Asian stocks stocks fell sharply, after an earnings miss from Lowe's raised fears about the durability of green shoots. Traders dumped risk assets such as commodities and cyclical stocks and money was sent fleeing into the safety of U.S. dollars and Treasury bonds.
Aug. 18 (Bloomberg) -- U.S. and European stocks rallied after several banks were upgraded and Home Depot and Target reported less than expected losses. Traders celebrated by pitching dollars and U.S. Treasuries over the side and embraced risk by scooping up penny stock bargains of companies on the verge of bankruptcy.
No different than flying in a helicopter over a herd of wild beasts with 25 air horns and blasting them with 110 decibels to get them to switch directions.
Such is the strategy of Goldman Sachs and Morgan Stanley, designed to cause the maximum amount of pain possible in the shortest period of time.
Stock of the day is American Axle, up 100% on 5x normal volume as more hedge funds are attempting to engineer massive squeezes in order to "make their year" in a few days so they can take the rest of the year off.
But the real story on Wall St. is not whether or not we are in a bull market or bear market. Nor is it whether or not we are experiencing inflation or deflation.
The real story is Amanda Drury, subbing in on CNBC this week. The question being asked is what does she look like with her clothes off?
Perhaps the next time we get a 325 point up day, she'll send Art Cashin, Mark Haines, and Bob Pisani into a catatonic state of shock by taking her clothes off after the bell.
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On a much happier note, that prick Robert Novak, met his maker today
I lived in DC for several years and took several classes in the building where they taped the now defunct Crossfire. It was with Novak that I got into the habit of serving a middle finger salute to pricks throughout that city. Sigh, a shame I will not be able to direct him to sit and spin on my outstretched finger any longer.
Enough of Novak RIP...
lets get back to amanda, and her classy,
Benwaa bernake balls necklace/ 2nd photo, right above her 'cleverage'
HEY NOW....
Nice. I'm sure someone will celebrate your death by pissing on your grave.
I'm not a huge fan of Novak, but stay classy, Joe.
Also, on an even happier note, my HURN pick from the other week paid off huge-mung-gous today
if I have learned one thing trading over the years, is that people who only talk about their winners and how easy it is to make money(see your note re CIT and countless others) never last and never made any real money in the first place
Huh....hey Fuckface......I recommended it here a day or so after it got clobbered in early Aug....I ONLY talk about picks that I have previously posted
And, as far as CIT goes, that has been a huge winner for me, on the equity, the options and bonds
classic. Thanks Robo!
Durden has a team of comedic genuises over here...I'm not worthy. lmao
God I love these updates Robot!
As I postulated before;
Don't over analyze the monkey - He is a very simple thinker
Monkey see monkey do - Monkey want monkey get - Monkey see Amanda Drury,
....well let' just say back away from the cage your about to see a "monkey do"
.....etc. etc. etc.
Gold star for the 3rd paragraph.
robo....loved the herd pics running frantically one way then the other...how apt and well thought out on your part!!
I am VERY disappointed at the lack of pics today, particularly given the snafu of yesterday...i was all psyched for lots of eye candy. it's bad enough that i lost on my short positions (i'm patient and just waiting with more dry powder) today, but my heart sank as I scrolled further down your (excellent!!) daily column.
excellent summary, you could say people are reading ROBO by sudden laugh at work.
Robo, a distant relative?
Real-Time CNBC Babe Rankings
6. Maria Bartoromo, 8.99, aging and ceaselessly bullish, but looking pretty MILFy hot lately
http://cnbcsucks.wordpress.com/2008/06/
Speaking of CNBS, what happened to Dennis Kneale? Turned in tonight for some "hope" and CNBS was replaying their lame cruise ship "special" for the 50th time.
Have they cancelled his show or is he on "vacation" with Krudlow?
Natural gas getting pummeled once again.
It's about twelve cents from my downside target.
The 10-1 and 6-1 relationship between gas and oil discussed in the paper linked below has been obliterated.
http://www.dallasfed.org/research/papers/2007/wp0703.pdf
Hard to believe that we were paying $10 more for the stuff a little over one year ago. I'm looking to build a long term position into further downside. Within three years I suspect I will be heating my house virtually for free.
Does anybody understand the supposedly changed CFTC rule changes regarding speculation for NG? So much for speculators not affecting commodities?
everyone at the office tunes in for Robo's daily report... 5 stars today
Great post, Wendy. How about some pictures of RE developements in the Inland Empire?
Big news....Obama lied to us about health care reform. This is a smoking gun.
http://www.huffingtonpost.com/2009/08/13/internal-memo-confirms-bi_n_258...
Attention Merisa Rhee
Please hit the gym and firm up those flabby triceps before appearing sleeveless again on "Lost Money"
> up 100% on 5x normal volume
30x normal volume. (29 to be precise)
lol
Tricky action on the banks.
Some going up, others going down.
robo...did ya see the Bove comments on STI today? something to the effect of no profits until 2011, lowered his price target to 18, and the stock, well, you know what it did.....
Amen to that Trader Joe; Novak was a prick; anti-semite and anti-Israel.
It's not Wendy, it's Windy.
too bad she's blonde
I remember seventies, there use to be a brief spring rally, a summer rally & may be some year end bonus. And rest of the year market simply declined..languished. Today shorts carry the market on their shoulders. MMs made it easier with many inverse etfs. This market will not die before all shorts are dead or bankrupt which ever happens first or second oh does it matters lol.
Very funny post, but (without being too nitpicky) it's "wildebeest", preferably said with a pinched South African accent.
Robo,
I don't want to dis your economic analysis, which I admire, but if not through formal education then by inclination, your forte is marketing not economics.
Robo,
I don't want to dis your economic analysis, which I respect and enjoy but if not by education then inclination, your forte is marketing.
Robotraders get some love:
ap
PS3 price cut by $100
Talking about GS...two out of three recent major bank loans reserved for "hank & friends" went belly-up...Woolworths and Setanta...the last one missing is Drax Power...hmmmm....
well, now stop bitching, and trade it, GS seems to have enhanced the 'pin to strike' phenomena on Options Expiration Friday....in our disadvantage, GS has done something good, call it crumbs off the table
"Amen to that Trader Joe; Novak was a prick; anti-semite and anti-Israel."
Zionistas are very predictable. Critical of Israel? Well he must have been a prick, anti-Semite and the embodiment of all evil in the world. Despite the fact that he was born Jewish, Zionist must turn on him the white hot hatred hitherto reserved for Palestinians and other Arabs. Because he is a 'prick' there is no need to even consider his critique of Israel.
Sigh.
Option writers (GS, etc) stand to lose over $400 million in BAC if it does not selloff before expiration.
Ya know? Fucking Paulson screwed me good on this trade, look for a timewave zero effect on BAC starting with the low on Monday. Peace
Speaking of Goldman, this from the BBC:
Ink found in Jurassic-era squidhttp://news.bbc.co.uk/2/hi/uk_news/england/wiltshire/8208838.stm