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Stock Market Mania Continues Unabated
After last year's collapse, you would think that stocks would be sworn off forever. But repeated "mop-ups", monetizations, etc. has simply incited new bubbles to keep the gambling fever alive.
The favorites lately have been broken down junker financials such as AIG, up more than 15% today....
And don't forget the Coffee Bubble, GMCR about to make a new high, and DDRX reports tonight with about 30% of its float still sold short:
Still the same old stocks getting gamed by the Hi-Fi Traders. The favorite is Citibank, still pinned in a thin trading range:
Now that oil has resumed its collapse, investors are giddy about the "energy tax cut" and the talk of upping the housing tax credit to $15,000, near-bankrupt homebuilders like Beazer were bought with both hands today:
And of course, the various and assorted consumer discretionary names continue their relentless march to new highs...
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i love zero hedge and andy.
Yeah Andy....I would have to make sure I didn' t "over do" her as well!
lol
More.Meat.
agree with the oil call.
http://ftalphaville.ft.com/blog/2009/09/21/72996/traders-pay-up-for-downside-protection-in-oil/
she has a certain.... charm....especially from the side :)
the gel nails are especially classy!!
i don't think there is a bad fame anymore.
just saying....
Hi Andy--just got back from Toronto and am off the west coast for 3 weeks. Also just got a kindle and it is kinda wonderful since I can read ZH at no cost on 3G.
Question: Any great books you can recommend--I've got about 20 in the cue for the 1st chapter read. Willing to take any recommendations in the non-fiction realm of late (which I have read many but it is my way). Any help, greatly appreciated!
Kindly,
Howard
Napier is from the Broken Watch School of prognostication. He spent the early to mid 1990's in Japan pounding the table about the coming massive recovery in the Japanese economy.
Chindit ( how appropriate..LOL),
I must admit that using Brig Gen. Orde Wingate picture as Avatar places you in the not so usual, and lateral thinker camps...beside the WWII buffs as well.
No mention of PALM? 15% ramp in the last hour and a half on no news.
I saw that too. From 2:30 to 3:20 - 14.11 to 16.24.
I did get this: (PALM) Shares have spiked in the last half hour, hitting a high near $16.50 before backing down to the $15.50 area. There is no new information to suggest a motive for the spike and the large increase in trading volume, which is nearly double daily average at time of writing. The company is doing a 16 million share secondary which prices tomorrow. The $16.75 area is year-to-date resistance.
Wow...
Maybe Michael Dell is buying it...
LOL....
ROTFLMAO
If junk can soar & pigs can fly they'll be investment grade by and bye-bye
A piece of AIG for only $50?! I'd be stupid to sit this out!
WaMu, believe it or not, up 73% today in the pink sheets.
I agree with Andy on oil. If it cracks, everything reverses. The dollar goes up, stocks and junk bonds tank. Garbage stocks tank the most. It's all one big correlated trade.
oh my...
No.
If oil cracks and heads back to $35, then airlines, retail, homebuilders, etc. will rally huge.
It will be more money in the pockets of consumers.
How else can you explain the run in these retail names with unemployment at world record highs?
See what happens when oil gets killed??
How can I explain the run up in retail names? Massive stupidity? Short covering, momentum trading? I can't explain this market.
Maybe you're right but if you look at the last year you'd see a massive positive correlation between the price of oil and the stocks of retailers and homebuilders both on the way down last fall and in January to early March, and on the way up since March.
To this point it has all been a binary trade: Add risk or reduce risk based on whether the economy is going to tank or recover.
A big drop in the price of oil would be a sign of global economic weakness. I don't see how retail and homebuilder stocks that have gone up 2-5X and more off their lows on the hopes of an economic recovery would rally again on a weaker economy.
http://www.businessinsider.com/chinas-demand-for-oil-falls-for-first-tim...
Don't forget the near-bankrupt office REITs.
Especially those who own the Newport Beach "see-throughs", formerly occupied by Subprime occupants...
And don't forget your wicker basket at Pier 1 Imports:
DIEDRICH COFFEE SHARES FALL ON Q4 RESULTS
DIEDRICH COFFEE Q4 NET LOSS 59C VS 20C
DIEDRICH COFFEE Q4 REV $18.3M VS $16.3M
DIEDRICH COFFEE Q4 COMP SALES FALL 1.7%
Great pictures!
All have great fundies... buy buy buy
Huh? I read net income q4 was .54 per share. non GAAP was .29 per share. Sold some retail shops for the difference. This is from Marketwatch.
btw, has anyone actually tasted their coffee. I wonder if their roasters are good or if this is just another type of Starbucks garbage coffee?
My only experience was with their concentrated packets that went into a machine at work. Tasted better than instant coffee, but that is like saying a punch to the face feels better than a punch to the groin. That they even make such a product is telling. However, given the range of coffee simulacra this country consumes, maybe their product is a huge hit.
BTW, I heard J Grant on BB radio at 5 pm...I think the guy has taken a Mickey Finn, or happy pills or something. Just not the old Jimmy. Actually seemed bullish....as some say they don't ring bells at the top or the bottom. We are all watching for the straw that breaks this camels back. It will happen and it will not be pleasant
SPARCs do not have tastebuds
I'm not sure why you people can't understand that stocks are a generational buy right now. Valuations at bargain basement prices and buy and hold is recommended. You have to have a long term outlook
CRUDE:
Daily chart still showing topping action.
Weekly chart - neutral.
Monthly chart - neutral.
USD long term indicator still bullish too.
MORE:
http://www.zerohedge.com/forum/market-outlook
Chicks and charts - I love this guy's posts
CNBC has that in HD
hey Robo, there's more charts for you to post
http://hegre-art.com/
wow, "stocks are a generational buy right now..." With the S&P 500 P/E at 20X? With all of it being borrowed funny money from our grandkids? Really?