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The Second Dot Com Bubble Has Now Burst

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Thu, 06/16/2011 - 14:14 | 1375232 mynhair
mynhair's picture

Which one is the Weiner in?

Thu, 06/16/2011 - 14:16 | 1375238 TheTmfreak
TheTmfreak's picture

Probably Adul... i mean friendfinder.

Thu, 06/16/2011 - 14:18 | 1375254 andybev01
andybev01's picture

He's not; he pulled out.

Thu, 06/16/2011 - 14:23 | 1375263 TheTmfreak
TheTmfreak's picture

Somehow I doubt he finished his 30 day free trial...

Thu, 06/16/2011 - 14:15 | 1375237 monopoly
monopoly's picture

That was quick. Usually lasts a year or more. :)

Something is up here, this market is very strange acting right now. Am safe in port and staying that way.

Thu, 06/16/2011 - 14:20 | 1375245 TruthInSunshine
TruthInSunshine's picture

http://www.thestreet.com/story/891820/the-winners-of-the-new-world.html

The Winners of the New World By Jim Cramer 02/29/00 - 09:42 AM EST

You want winners? You want me to put my Cramer Berkowitz hedge fund hat on and just discuss what my fund is buying today to try to make money tomorrow and the next day and the next? You want my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here. Right now. OK. Here goes. Write them down -- no handouts here!:

 

724 Solutions (SVNX), Ariba (ARBA_), Digital Island (ISLD), Exodus (EXDS), InfoSpace.com (INSP_), Inktomi (INKT), Mercury Interactive (MERQ), Sonera (SNRA), VeriSign (VRSN_) and Veritas Software (VRTS_).

 

We are buying some of every one of these this morning as I give this speech. We buy them every day, particularly if they are down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they love and own! Most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come.

Thu, 06/16/2011 - 14:20 | 1375265 monopoly
monopoly's picture

Truth, perfect, just perfect, and to think he is still walking the streets, a free man.

Thu, 06/16/2011 - 14:40 | 1375360 Blano
Blano's picture

And now he says he doesn't like Pandora because they don't make money.  Well better late than never I guess.

Thu, 06/16/2011 - 16:06 | 1375673 groucho_marxist
groucho_marxist's picture

roll 212

Fri, 06/17/2011 - 02:44 | 1376826 natty light
natty light's picture

<span style="font-weight:bold;">Bear Stearns is fine!!!</span>

http://www.youtube.com/watch?v=o3FVBKic5Ek

Thu, 06/16/2011 - 14:20 | 1375246 Village Smithy
Village Smithy's picture

I am finding the almost perfectly sinusoidal pattern of yesterday and today's ES interesting.

Thu, 06/16/2011 - 14:18 | 1375258 qussl3
qussl3's picture

Galloping Gertie?

Thu, 06/16/2011 - 14:17 | 1375249 monopoly
monopoly's picture

I know AAPL is not the market but for me it is always a tell.

Thu, 06/16/2011 - 14:58 | 1375413 Going Loco
Going Loco's picture

And AAPL's 20DMA just broke its 150DMA - a Weinstein moment if ever I saw one.

Thu, 06/16/2011 - 14:21 | 1375255 The Axe
The Axe's picture

You should put AIG in there to...its in imagination world   also....  We should probaly nuke it..

Thu, 06/16/2011 - 14:18 | 1375256 The Axe
The Axe's picture

You should put AIG in there to...its in imagination world   also....  We should probaly nuke it..

Thu, 06/16/2011 - 14:18 | 1375257 svendthrift
svendthrift's picture

That was quick. Max Keiser said it would last a few more years. The cycles are speeding up.

Thu, 06/16/2011 - 16:55 | 1375803 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

The bubbles are getting smaller and smaller - there's no air left to blow them with!

A few years! lol! The last time I heard Max Keiser was pumping Bitcoin as "the currency of the revolution!"

Thu, 06/16/2011 - 14:36 | 1375266 hedgeless_horseman
hedgeless_horseman's picture

Q:  Does this mean that Project Playlist is fucked?

A:  Yes, Bob, we were dead after MySpace and FaceBook killed us.

Q:  Why?  We're just as good as Pandora.

A:  Exactly, Bob.

Fri, 06/17/2011 - 02:59 | 1376829 natty light
natty light's picture

Bwahahaha

Thu, 06/16/2011 - 14:24 | 1375268 fonestar
fonestar's picture

Short them all.  Let Sergey sort them out!

Thu, 06/16/2011 - 14:25 | 1375274 mynhair
mynhair's picture

Totally O/T:

Hoist one for the Weiner!

May the door not hit him in the ass on the way out.

(As soon as he shuts up, that is.)

Thu, 06/16/2011 - 14:23 | 1375277 monopoly
monopoly's picture

All the miners getting crushed and gold is down..... $2.00. Beyond words. 1/2 my kingdom to get the turn in miners correct.

Thu, 06/16/2011 - 14:33 | 1375293 mynhair
mynhair's picture

I feel your pain greatly.  Try more HL at 6.88, if it gets there.

Edit:  ok, 6.50

Thu, 06/16/2011 - 14:36 | 1375322 qussl3
qussl3's picture

My fingers are getting damn itchy, but unless BB pulls something out of his ass on the 22 or CHina goes nuts we are probably going lower.

 

Thu, 06/16/2011 - 14:25 | 1375285 Johnny Lawrence
Johnny Lawrence's picture

AAPL through the 200-day for the first time in 2 years.

Thu, 06/16/2011 - 14:33 | 1375306 hedgeless_horseman
hedgeless_horseman's picture

Saw that too.  I'm no technician, but looking like lots of air to 200.

Thu, 06/16/2011 - 14:25 | 1375286 Miss Expectations
Miss Expectations's picture

Does this mean that Jonathan Golub just slammed his forecasting speedster into reverse?


Thu, 06/16/2011 - 14:29 | 1375290 slow_roast
slow_roast's picture

I fucking love this website.  It's like you diatribe for me, to me!

Thu, 06/16/2011 - 14:28 | 1375299 WilliamShatner
WilliamShatner's picture

Dot Con , bitchez!

Thu, 06/16/2011 - 14:35 | 1375316 mynhair
mynhair's picture

+1240

Fri, 06/17/2011 - 03:01 | 1376836 natty light
natty light's picture

he's dead jim

Thu, 06/16/2011 - 14:33 | 1375327 buzzsaw99
buzzsaw99's picture

There are others upcoming as well. Facebook projected $100B. That's all the evidence I need.

Thu, 06/16/2011 - 14:49 | 1375392 WilliamShatner
WilliamShatner's picture

Read somewhere that Facebook lost 6 million users in America last month.

They had their chance to go IPO and let it pass by.

LinkedIn at least saw the window of opportunity closing and went for it.  Start buying puts or just short that baby, it's going to fall fast and hard.

Groupon?  Idiots should have taken the Google buyout offer.  Them turning it down reminds me of Yahoo! turning down Microsoft's buyout offer.  D'oh!

 

Thu, 06/16/2011 - 15:20 | 1375506 Liquid Courage
Liquid Courage's picture

OT: Hey, Bill! Was that you I saw climbing a lamp-post in Vancouver last night?

I know you were at the game 'cause they had a close-up of your manic mug on CBC. Quite the get-up.

Thu, 06/16/2011 - 15:22 | 1375523 buzzsaw99
buzzsaw99's picture

Google is worse than calpers, they'll buy anything.

Thu, 06/16/2011 - 15:31 | 1375545 WilliamShatner
WilliamShatner's picture

LOL

Except Google can't just go back to the state and request more tax payer dollars after taking a huge loss on their investments.

Thu, 06/16/2011 - 15:42 | 1375591 buzzsaw99
buzzsaw99's picture

after calpers takes a bath on their GOOG holdings they damn sure will. lolololol

Fri, 06/17/2011 - 03:04 | 1376839 natty light
Thu, 06/16/2011 - 14:33 | 1375329 monopoly
monopoly's picture

Volume picking up. I have been doing this for a week or two....and I am scared.

Thu, 06/16/2011 - 14:38 | 1375331 AgShaman
AgShaman's picture

*(Harrumph)*

I remember the 1st dot com bubble burst....it wasn't that damn bad!

I actually enjoyed a decade's worth of eating Top Ramen, peanut butter and crackers, and spam sandwiches....while living in a tent in the mountains.

It builds character....and promotes the hoarding of precious metals.

Look at me now....I'm hoping to sign papers and close on Ted Kaczynski's old cabin anyday now.

Keep gamblin' "Bits-sez"....and you'll get yours as well (Party like it's 1999!)

"Smoke 'em if you got 'em"  - Bill Clinton

Thu, 06/16/2011 - 14:48 | 1375375 mynhair
mynhair's picture

Pound thru 1259, you pig!

Thu, 06/16/2011 - 14:52 | 1375407 qussl3
qussl3's picture

Resilient mutha isnt it.

If we do crack tmr, next tues will be VERY interesting.

Thu, 06/16/2011 - 14:54 | 1375401 XenoFrog
XenoFrog's picture

"Most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come."

Your kid is going to fail the state test, so if we just don't test him, he won't be a failure!

 

haha

Thu, 06/16/2011 - 14:55 | 1375403 falak pema
falak pema's picture

I love this post. Out of nowhere the US capital class suddenly recognises its been shitting around about its holy of holies once again : the high tech sector, once again in levitation.

Surprising that nobody saw this coming in USA. It was reported last week after around two weeks prior earlier, in french press. We are all selective in our view of things and subject to our own value systems.  

Love to hear comments on this from the experts of hi-tech. What have the Rating companies been doing in their sectorial analyses?

Thu, 06/16/2011 - 15:12 | 1375468 NotApplicable
NotApplicable's picture

Why fluffling, as always.

Thu, 06/16/2011 - 15:23 | 1375498 falak pema
falak pema's picture

Well those rating companies do so much more than "fluffing" the greeks wouldn't you say..I love this selective vision of global capitalism...Lets hear your fluff on that.

"Stuffing" is more appropriate. DEEP and painful. But fluffing will have to do I guess in the US. 

Thu, 06/16/2011 - 14:52 | 1375409 GFORCE
GFORCE's picture

When Carlyle, Glencore and Facebook talk IPO, it's gotta be the top.

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