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Waiting For Earnings Bombs or Blowups
Now that the market has launched 70% off the lows, many participants are eagerly awaiting the first "earnings bomb" to be released which sends the market into its first major correction. Unfortunately, many are still playing the "less bad" game evidenced by the non-stop intraday moonshot in Citigroup today.
Citigroup has been the favorite playground of the Hi-Fi gamers lately, buying and selling the same stock over and over for a 3 - 5 cent scalp. But today, the stock turned into a wildcat and turned many of these Hi-Fi guys on their heads....
LOL..
If you think that is bad, check out what happened to SanDisk today after Friday's Supermodel mauling...
The entire Friday loss was erased in the first two hours...
Or how about Apple?? Insane move today.
Next up we get to see what IBM and WFC have to say:
Which way? Which way?
Other than the fresh new highs in XLV, PPH, and BBH today, there wasn't a lot happening, and we are still stuck in this miserable trading range.
However, it appears that stocks and commodities are shaking off the strong dollar and weak euro, and some items like Sugar, Palladium, and Platinum are trading in their own worlds at the moment.
Probably have to just sit and wait around and see if some of these high-beta chicks get off the floor...
Since today's fund managers are so insistent on recycling old girlfriends, I'll be keeping an eye on these two 1999 hookers:
Will these girls be able to rise up and get out of rehab??
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COF makes me want to puke.
I cannot wait to see the day reality comes home for the longs on this piece of fecal matter.
Your COF is my PNC brother.
agree on PNC...symbol should be POS.
I still say that WFC is the biggest pile of shit out there (except C, but we all know that already).
Fundamentals, WHAT fundamentals?
Big4 are short NDX...
http://www.jubileeprosperity.com/
i knew you were a LEG man too!
CIEN gets juiced on an upgrade.
Hey if C trades a billion shares I think someone should throw a party.
You must have not read the memo: AAPL is going to $1,000.
By Friday.
great note today, Robo. thanks.
mkt internals pretty straightforward today. gold still just hanging on before going kersplatt.
for those who listen to Bloomberg Radio in the mornings, I am looking forward to the day when Tom Keene references ROBO
"a tantalizing note came out from Robot Trader last evening...."
DTG is priced beyond perfection and as if they had no debt. Fuck 'em.
One I had and threw away, sad to say. I only clipped about a 20% profit off the thing, and in so doing learned a lesson.
The world has gone mad. Royal Caribbean's decision to dock ships at Haitian resort creates controversy:
Despite the fact that the ships have delivered relief supplies to the island, some passengers on the ships are reportedly "sickened" over the decision to dock there. One passenger took to an Internet message board to protest the idea of vacationing where "tens of thousands of dead people are being piled up on the streets, with the survivors stunned and looking for food and water."
When Royal Caribbean announced its decision to resume stops at Labadee last week, a company executive cited the economic importance of the resort to the local citizens as well as the opportunity to deliver much-needed supplies.
"We also have tremendous opportunities to use our ships as transport vessels for relief supplies and personnel to Haiti," said associate vice president John Weis. "Simply put, we cannot abandon Haiti now that they need us most."
Still, Royal Caribbean, which recently raised eyebrows when it announced that it's organizing a "cougar cruise" for older single women, has been catching heat from all corners on their decision, prompting company CEO Adam Goldstein to post a defense of the company on their website. Saying that he is "proud of what our people and our ships are doing."
Robo, did you get that? Cougar cruise! LOL! Today's market action:
Most active decliners:
NYSE
Nasdaq
Amex
Most active gainers:
NYSE
Nasdaq
Amex
definitely bangable!
Her eyes they shone like the diamonds
You'd think she was queen of the land
And her hair hung over her shoulder
Tied up with a black velvet band.
http://www.youtube.com/watch?v=DfsgHyymG8E
Yikes - Did I read that right? Someone bought 175k SPY Sep 100 puts and 175k SPY Sep 101 puts just after the bell. That is a boatload of FRN. Wonder if someone knows something?
perhaps they know common sense.
What a move in the spooks.....
"Strong dollar" = relative to other failed fiat currencies.
Measuring the strength of the dollar versus the pound is like measuring the world's tallest midget.
If commodities are up, the dollar is down, end of story.
Dollar = whorehouse in a neighborhood full of crack houses.
WTF????
Everyone's waiting for this big correction. In "normal" markets, it would have happened a long time ago. This is a rigged casino now and controlled by squids with fancy computer algorithms. I am no longer certain that big corrections are coming. Markets are not free anymore.
Someone bought 175k Sep SPY 100 puts and 175k Sep 101 puts right after the bell. That is a boatload of greenbacks. Someone know something?
yes, in fact I do.
RMBS up 12% after hours...
UPDATES:
http://www.zerohedge.com/forum/market-outlook-0
In early 2007 I warned of an impending stockmarket crash.
I confirmed a bottom by early April 2009.
From mid 2009 onwards, I warned of an impending USD rally.
The uptrend since March 2009 has been a bear market rally contained within a much larger bear cycle that started in 2000.
S&P 500 = 1200 by 1/26/2010 Obama state of the union speech. Then the big rollover begins........
You guys still do not get it. The market will continue up until all infidels are totally obliterated, totally. The entire cosa banca is fighting for survival, and with an infinite supply of ammo, no mortal stands a chance. Tataglia was a pimp, it was Barzini all along.
Uh, except consensus estimates are already for $75/shr on 2010 SPX earnings... and these will get beat. Just as this Qs eps is already getting beat.
When $80+/shr is clear after Q2, where will fair value be?
Cash is high, guidance is low. We will see continued M&A, dividend re-instatements and increases, and cash buyback announcments.
But yeah, this is going way lower.