So when you see standing in Gyeongju the Group of 20 —let the reader understand— then let those who are in the markets flee to the mountains. Let no one in gold take anything out of the vault. Let no one in cash chase after the train. How dreadful it will be in those days for 401(ks)s and IRAs! Pray that your flight-to-safety will not take place in winter or on the Sabbath. For then there will be great distress, unequaled from the beginning of the world until now—and never to be equaled again. If those days had not been cut short, no one would survive, but for the sake of the elect those days will be shortened. At that time if anyone says to you, ‘Look, here is the G20!’ or, ‘There they are!’ do not believe it. For false Ministers and false governors will appear and perform great signs and miracles to deceive even the elect—if that were possible.
Man, I think I'm just going to play the anti-trade. Go to work and turn off the tickers.
Repeal of the mortgage interest tax deduction? newSubmitted by 2nd_ave (4845 comments) on Mon, 10/25/2010 - 08:58 #72601
ReplyDeletehttp://tinyurl.com/2ermrm7
Any comments, loannetter?
I was gone 2 days and I see that shark has announced his intention to fade into oblivion. Not a bad choice, my man. I often crave that option...getting away from this technology nonsense. If you do end up fading away, all I can say is I have enjoyed reading your posts. I'll admit that some of them were a bit offensive but that didn't stop me from reading them.
ReplyDeleteAnyway, good luck to you brother.
I see that BYD has decided to walk away from the remaining stake in the Borgata. I wonder if this is a negotiating ploy.
ReplyDeleteEarnings were decent but management's comments suggest that things are getting better and q4 could be a beat. I'm going to listen to the call at 11am EST and decide what I want to do with my longer term option positions. I'll probably continue to hold them until the 11/12/10 deadline passes for them to decide on the 50% stake in the Borgata. If another bidder comes in and raises the purchase price I wouldn't be surprised if they ultimately sell their own stake in the Borgata.
Shorts Need To Say 'Uncle' newSubmitted by 2nd_ave (4846 comments) on Mon, 10/25/2010 - 09:54 #72607
ReplyDeleteOtherwise they're just adding fuel to the fire.
2nd - I wonder when bears/skeptics will learn...at 1,250? The Dow has already broken May highs.
ReplyDeleteSharkie's post were in the least entertaining, things won't be the same without him. ;)
ReplyDeleteNot really much to say. I'd kinda guess we float around at this level for the week though.
ReplyDeleteStinky on the 50 for RAS.
ReplyDeletei tell you what, i'm biased for sure, but it looks like REDF has bottomed out.
ReplyDeleteGMO - Taking 1/3 off here to lighten the load and free up some cash (should probably be offing more than this).
ReplyDeleteIn progress, partial fill of course!
I still think Bernanke will deliver, growth is too slow.
ReplyDeleteKyle- HERO?
ReplyDeleteGMO - Sale is all small purchases of less than 200 shares. Who trades 100~200 shares at a time and what's their motive?
ReplyDeleteMark - I've stepped away from HERO. Don't like the intraday HFT/'Chatter' behavior. REE is working today & VXX just had a nice little reversal...
ReplyDeleteThanks Kyle. Good job with REE. That's a tough on for me.
ReplyDeleteSCO - watching to see how the 12.50 lvl play out...
ReplyDeleteBYD - Does Borgata have bed bugs, if so will it have an effect??
ReplyDeleteGL guys....
ReplyDeleteGood luck shark. Your posts were stimulating.
ReplyDeleteA break away from the hubris of others can never be a wrong decision. It is something we all need to do from time to time.
From what I can find, Borgata and most other properties in the area have had bed bug reports for several years now, so if the subject comes up it's old news.
ReplyDeleteChicken - yeah i don't think that's an issue.
ReplyDeleteBAC - European Lynch mob headed straight for BAC?
ReplyDelete"A European Lynch Mob Is Coming For Bank of America
Hundreds of billions of dollars of this junk was sold to European banks and funds. And these guys get together at conferences (sometimes they even invite me to speak). So Helmut will be talking to Lars who will talk to Jean Pierre and they will realize they all own some of this junk. They will be watching with very real interest to see how the big boys at PIMCO and Black Rock and the New York Fed fare in their efforts. And then you can count on them all piling on"
http://blogs.forbes.com/schifrin/2010/10/25/a-european-lynch-mob-is-coming-for-bank-of-america/?boxes=financechannelforbes
Will I really get my chance at BAC for $3 handle?
Still Bullish but...
ReplyDeleteSubmitted by teamonfuego (2240 comments) on Mon, 10/25/2010 - 13:09 #72642
at some point a significant pullback is likely due to the heightened focus on the mid term elections. Ultimately, corporate earnings will rule the day.
I'd recommend listening to the Boyd Gaming (BYD) call, which is going on right now. The CEO's comments are VERY positive in my opinion.
FD: Long March 2011 $8 Calls and long Jan 11 $10 calls on BYD.
SD had a nice bounce today, and so I just sold my remaining 250 shares of it at $4.78 so as to raise some more cash for fighting the HNUZF battle.
ReplyDeleteYou did great with SD David. Good job.
ReplyDeleteAdding to XCO @ 14.00.
ReplyDeleteThank you, Mark. I wasn't brave enough to put a lot of money into the SD trade, so the total impact on my portfolio was very minor, maybe 1%.
ReplyDeleteguys i would recommend listening to the BYD conference call. they were very bullish on what they were seeing in their business, which was pretty surprising. not necessarily an endorsement to buy the stock but at least to keep it in mind if you're looking to short the market.
ReplyDeleteIt may be the case that the pullback in silver/gold is over. Independently from this thought, the 6-month chart of ECU.TO gives me a feeling that it is ready for another leg up. So I just placed a buy limit order for 10000 shares at the ask of 0.67 for ECUXF. 5000 shares were bought right away and the ask moved up to 0.68. Let's see if the remaining 5000 shares get purchased today.
ReplyDeleteMoving my SPY index fund into the Vanguard Money Market fund at close. Paring risk for a potential Turnaround Tuesday. With mid term elections in a week I'd rather begin selling ahead of the masses.
ReplyDeleteClosed my STT long position at breakeven.
ReplyDeleteTOF -- I think too many people are looking for a sell-off after the elections. My "inside voice" tells me right now that the most likely scenario is that of the market being flat this week and then making another leg up after the elections (since after being flat for two weeks in a row it will have worked off its short-term overbought condition).
ReplyDeleteI was able to buy only 5000 shares of ECUXF at $0.67. In order to turn this fact to my advantage, I placed a buy limit order for 5000 more shares at $0.65. Now, if ECUXF goes down and my new buy limit order is triggered, I will be thankful for the fact that only 1/2 of my original order was executed at $0.67. On the other hand, if this is a medium-term bottom for ECUXF and it starts rising tomorrow, then I'll be happy for 1/4 of my portfolio that I now have in ECU.TO.
ReplyDelete"Working off over bought condition" - That's a good point, it remains to be seen what happens post election but it's likely to begin taking shape pretty soon as people begin to bet on an outcome? Or, a Republican victory is already baked in?
ReplyDeleteWell, the 50SMA has only just turned up through the 200SMA... If that means something.
ReplyDeleteThat close was a bit unnerving.
ReplyDeleteRBY - A comeback in progress?
ReplyDeleteRBY - I am a recent holder, now at a loss. Before I went into surgery on Oct 14 I sold GLD but not Rubicon. Better would have been the other way around. RBY = volatility but that is the same thing I complained re SLW when I got out near the low.
ReplyDeleteDavid - it's nice that you say that people are looking for a selloff because that's the sense I was getting after listening to Tout TV for a little bit. I'm gonna wait on my index funds account for a sharp one day pullback and then I'll move money into the markets. I'm not expecting more than a sharp 1 to 3 day pullback just to work off overbought conditions. I don't think conditions are too overbought though. We've basically gone sideways for 2 weeks now and are up 3% in the past month. Since the spurt higher in September we've been cooling off a little so maybe this is the way it worked off any overbought conditions.
ReplyDeleteRBY - I believe I'll take an initial position if I can catch it under $3.50 or so which I doubt will happen, I think Friday was the low but gold moves in ways I can't comprehend, always throwing a monkey wrench into the trade. The U$D and Treasuries also fall into this category.
ReplyDeleteRegretting not buying UXG months ago...
new post
ReplyDelete