Wednesday, March 16, 2011

3/16/11 Compared To What



Slaughter house is killing hogs
Twisted children are killing frogs
Poor dumb red-necks rolling logs
Tired old lady, kissing dogs
I hate watching CNBC that stinking smut!
I can't use it!
Trying to make it real, compared to what!

I'll be very, very surprised if we don't rally tomorrow. Even if it's nothing more than twisted traders killing shorts.

I love the trading game.
Posted by at

56 comments:

  1. 2nd_aveMarch 16, 2011 at 6:08 PM

    The Nikkei may even rally to close in the green.

    ReplyDelete
  2. ChickenpookieMarch 16, 2011 at 6:12 PM

    Oh damn, what happened to the Honey Badger thread? ;)

    ReplyDelete
  3. 2nd_aveMarch 16, 2011 at 6:13 PM

    I'm trying my damndest to break that thread ;)

    ReplyDelete
  4. teamonfuegoMarch 16, 2011 at 6:16 PM

    http://www.youtube.com/watch?v=4r7wHMg5Yjg

    revived.

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  5. DavidMarch 16, 2011 at 6:18 PM

    "I would be very, very surprised if we don't rally tomorrow. Even if it's nothing more than twisted traders killing shorts."

    2nd_ave -- as Vad pointed out on CC, this market is now being driven by genuine news, and so if the situation in Japan worsens overnight, I would be surprised if the US market doesn't go down. Having said that, today's mid-day capitulation might have been based on the assumption that things will just turn out awful, and so the market might stay flat if things become worse but not awful yet.

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  6. teamonfuegoMarch 16, 2011 at 6:21 PM

    David - I wouldn't put it out of the realm of possibility that the people whos interests are vested in seeing the market go up will try their best to leak false rumors. this is going to be volatile here.

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  7. 2nd_aveMarch 16, 2011 at 6:25 PM

    David- The 'news' has to be genuine each time, else why would anyone panic? If it worsens overnight,

    (a) We rally b/c we now know more. Imagination running amok amidst the unknown is always worse.

    (b) We rally b/c the worst has happened.

    (c) We rally b/c it becomes old news.

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  8. 2nd_aveMarch 16, 2011 at 6:27 PM

    We probably gap up 3 digits, forcing traders who sold today to chase if they want back in.

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  9. 2nd_aveMarch 16, 2011 at 6:29 PM

    So they'll wait a day. It gaps up again. Friday, then. It ----ing gaps up again. By Saturday it's all about having dodged a major nuclear bullet.

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  10. 2nd_aveMarch 16, 2011 at 6:30 PM

    Then again, you could be right. We're all adrenaline junkies.

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  11. 2nd_aveMarch 16, 2011 at 6:31 PM

    At the very least, I think today was a buying opportunity. Not a selling opportunity.

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  12. teamonfuegoMarch 16, 2011 at 6:33 PM

    http://content.screencast.com/users/DocBarter/folders/Default/media/1d359298-478a-4790-af62-e10a90c61a7e/SPX%2050MA.png

    ReplyDelete
  13. ChickenpookieMarch 16, 2011 at 6:38 PM

    Nuclear power - Boy, the administration was promoting nuclear energy today more than they've promoted any other form of alternative energy, I think I should buy.

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  14. ChickenpookieMarch 16, 2011 at 7:31 PM

    VE - Looks pretty attractive here.

    IMAX - Note how well this one's held up.

    ReplyDelete
  15. MarkWMarch 16, 2011 at 8:13 PM

    CP- You come up with the craziest crap I've ever seen...Thank you! (VE)

    ReplyDelete
  16. ChickenpookieMarch 16, 2011 at 8:58 PM

    SHAW - This is the contractor involved with building the Westinghouse reactors in China.

    China announced some kind of program freeze or halt today, not sure which or details, but this one might be worth watching/consideration as well.

    ReplyDelete
  17. ChickenpookieMarch 16, 2011 at 9:04 PM

    FCX - I would think this one might be worth considering as well, as if it's not already on your list....

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  18. ChickenpookieMarch 16, 2011 at 9:06 PM

    SHAW - "Shaw spokeswoman Gentry Brann said the company has contracts to build eight nuclear units in the United States and six in China. Four are under construction in China and four are under construction in the United States, she added."

    ReplyDelete
  19. MarkWMarch 16, 2011 at 9:12 PM

    FCX- Yeah, it's always there.

    ReplyDelete
  20. MarkWMarch 16, 2011 at 9:14 PM

    RB- I'm in day 3 with my 'combo fat blaster'. Give me a few more days and I'll ship it out to you.

    ReplyDelete
  21. ChickenpookieMarch 16, 2011 at 9:15 PM

    USU - Bethesda Maryland - I'm pretty sure these guys are tight with the good 'ol boys club in DC. Whether that's your bag really kinda depends, I don't trust the lot of 'em.

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  22. ChickenpookieMarch 16, 2011 at 9:20 PM

    Good luck tomorrow everybody, I'm hitting the sack now.

    And you too, Mark! ;)

    ReplyDelete
  23. MarkWMarch 16, 2011 at 9:24 PM

    FWIW- Cramer basically called BAC/F dead money.

    ReplyDelete
  24. MarkWMarch 16, 2011 at 9:25 PM

    Nightie night chicken. :)

    ReplyDelete
  25. teamonfuegoMarch 16, 2011 at 10:13 PM

    Cramer has been off latelyy no? I don't watch him but occasionally I see his comments somewhere and I think he has been missing a lot of tthe market action of late...not that I haven't either

    ReplyDelete
  26. RoBearMarch 16, 2011 at 10:37 PM

    While I wait for a radioactive cloud to engulf the world PANL goes out and does a 20%er right behind my back. I have been watching every tick for three months turn my head for one second and wtf. I would kick her to the curb, but i am just a sucker for hot new tech stuff with no PE, a fast burn rate and very high growth if you know what I mean? And I think you do.Don't worry I will be watching all your ticks tomorrow honey, I'm turning the SPY off. Its alright to love a stock, You just can't marry one. Right?

    ReplyDelete
  27. 2nd_aveMarch 17, 2011 at 5:45 AM

    I'm A Believer newSubmitted by 2nd_ave (5334 comments) on Thu, 03/17/2011 - 08:44 #81798
    http://tinyurl.com/4rupcrf

    Ben shaved off the beard to energize/evangelize the crowd in these trying times-> SPX 1500. I'm a believer, at least until Friday.

    ReplyDelete
  28. 2nd_aveMarch 17, 2011 at 6:01 AM

    Playbook/ St. Patrick's Day Massacre newSubmitted by 2nd_ave (5335 comments) on Thu, 03/17/2011 - 09:01 #81802
    A better set-up than St. Valentine's Day.

    Crash Monday. Delayed reaction in global markets to disaster in Japan.
    Clash Tuesday. Bears and bulls clash to no avail at the line of scrimmage.
    Brash Wednesday. Bears sack the bulls to make it 3rd and 25. Bulls decide to go long.
    Cash Thursday. Hail Mary.
    Smash Friday? We don't yet know.

    ReplyDelete
  29. MarkWMarch 17, 2011 at 7:25 AM

    SSO off @ 49.52

    ReplyDelete
  30. 2nd_aveMarch 17, 2011 at 7:39 AM

    Nice trade, Mark.

    ReplyDelete
  31. ChickenpookieMarch 17, 2011 at 8:02 AM

    $DJUBSHG - Copper is flying fellas... +3.63

    ReplyDelete
  32. ChickenpookieMarch 17, 2011 at 8:08 AM

    When do equities start pricing in an easing of middle eastern tensions and the cleanup in Japan, today?

    ReplyDelete
  33. MarkWMarch 17, 2011 at 8:17 AM

    Thanks 2nd. I wouldn't have taken it alone.

    Not much to motivate me here. At the close.

    ReplyDelete
  34. ChickenpookieMarch 17, 2011 at 8:22 AM

    VE - Stink bid @ $28.40, maybe it'll close the opening gap...

    ReplyDelete
  35. ChickenpookieMarch 17, 2011 at 8:34 AM

    PKX - Looks to be breaking out...
    MT/X - Continuing moves off their 200SMA's

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  36. teamonfuegoMarch 17, 2011 at 9:12 AM

    CAT is the big winner...I've been buying cat today. I sold my CRM and most of DECK and moved it into CAT at around $102.5 today.

    ReplyDelete
  37. AnonymousMarch 17, 2011 at 9:20 AM

    Nice macro call yesterday guys. t3d

    ReplyDelete
  38. ChickenpookieMarch 17, 2011 at 9:40 AM

    VE - Retracted that bid, will re-examine status later.

    ReplyDelete
  39. ChickenpookieMarch 17, 2011 at 10:11 AM

    GLNG - This one's been a big winner as well, I suppose they've got new demand from Japan?

    ReplyDelete
  40. DavidMarch 17, 2011 at 10:14 AM

    2nd_ave, TOF -- great call yesterday about buying into negativity! All I could muster up my courage for was to buy some VXX puts, but the trade size is so small that it is basically for entertainment only.

    Even though traders might be relieved that Japan's disaster is not as bad as they thought yesterday, oil is up almost 3% now, which is not good for the equity market. So I would say that the issues in the middle East have to be resolved as well before this rally can continue.

    ReplyDelete
  41. teamonfuegoMarch 17, 2011 at 10:31 AM

    David - Please don't jynx us. Please!

    ReplyDelete
  42. DavidMarch 17, 2011 at 10:40 AM

    It's not me, TOF -- it's oil. It is now up more than 3% and the equities are heading south...

    ReplyDelete
  43. AnonymousMarch 17, 2011 at 10:44 AM

    MHS for dippers, t3d, long

    ReplyDelete
  44. Telestar3dMarch 17, 2011 at 10:48 AM

    Jesee nailed NGAS st, UNL hitting da 50dma

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  45. Telestar3dMarch 17, 2011 at 10:53 AM

    Jesse was also talking seasonals, here is a chart.


    http://www.ccstrade.com/mkt/NG/seasonal/

    chart link courtesy of CC

    ReplyDelete
  46. teamonfuegoMarch 17, 2011 at 11:03 AM

    Anyone else notice that the market almost always makes its lows right around 2pm EST?

    ReplyDelete
  47. DavidMarch 17, 2011 at 11:43 AM

    "Anyone else notice that the market almost always makes its lows right around 2pm EST?"

    Looks like it worked today yet again, TOF. :)

    ReplyDelete
  48. ChickenpookieMarch 17, 2011 at 11:48 AM

    Oil - Yep, that's gonna keep any broad advances in check.

    Our only hope now involves talking David into going long oil... ;)

    ReplyDelete
  49. ChickenpookieMarch 17, 2011 at 11:54 AM

    2pm market low: Yep, my positions usually don't follow though, they usually pop in the morning head rush then sell off all day long.

    Kinda think my positions are stuck here till good news comes or another disaster provides a reason to sell off.

    ReplyDelete
  50. 2nd_aveMarch 17, 2011 at 12:54 PM

    Taking off BRKB OAKBX AND CWGIX AT CLOSE TODAY
    Submitted by Pillzilla (456 comments) on Thu, 03/17/2011 - 15:36 #81842
    caution still warranted IMO

    Tried for a bounce on CCJ today but got buzzed fast.

    reply Contact the author Bookmark this Ignore thread Ignore user
    Re: Taking off BRKB OAKBX AND CWGIX AT CLOSE TODAY newSubmitted by 2nd_ave (5336 comments) on Thu, 03/17/2011 - 15:53 #81843 (in reply to #81842)
    Pz- I'm going to hold my positions for now.

    ReplyDelete
  51. teamonfuegoMarch 17, 2011 at 1:11 PM

    2nd - I'm holding my positions too. I do have a good chunk of money on the side after selling off CRM/DECK at the open today, though. Luckily I sold then...

    If we get a worst case scenario I will have money to buy.

    Are you guys at all worried about a radiation cloud coming over us here in Cali?

    ReplyDelete
  52. teamonfuegoMarch 17, 2011 at 1:25 PM

    Mark - I think DANG at $16 (IPO price) is going to happen...

    ReplyDelete
  53. teamonfuegoMarch 17, 2011 at 2:02 PM

    Long DECK at $77.99 after hours.

    ReplyDelete
  54. ChickenpookieMarch 17, 2011 at 2:11 PM

    Cali is too far away to be concerned about a radiation cloud, we should be concerned about Tokyo's potential exposure.

    Although they survived, the Chernoble incident puked all over Germany, which explains their angst and protest over the nuclear power industry.

    ReplyDelete
  55. teamonfuegoMarch 17, 2011 at 3:26 PM

    Wow...look at ADES. Friggin A.

    And why didn't I just hold on to BTU when I bought it on a panic at $61.5?

    ReplyDelete
  56. 2nd_aveMarch 17, 2011 at 4:46 PM

    new post

    ReplyDelete

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