Monday, March 28, 2011

3/28/11 Amazing TZAzin' Man> Laying In A Mumbai Alley Next Day



There's a man who leads a life of danger
To everyone he meets, he stays a stranger
With every move he makes
Another chance he takes
Odds are he won't live to see tomorrow

T-Z-Azin' Man, T-Z-Azin' Man
The market's got your number
And taken you off your game

Beware of pretty VXXens that you find
A pretty face can hide an evil mind
Be careful what you say
You'll give your stops away
Odds are you won't live to see tomorrow

T-Z-Azin' Man, T-Z-Azin' Man
Market's got your number
And taken away your game

Swinging on the Riviera one day
Then laying in a Mumbai alley next day
You let the wrong trade slip
While shorting persuasive dips
Odds are you won't live to see tomorrow

T-Z-Azin' Man, T-Z-Azin' Man
The market's got your number
And Tased away your game

55 comments:

  1. It's been about a year since David posted that song- time to play it again.

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  2. Gold - I have strong support @ $1400, not sure if MDW/RBY/etc. will turn back up just prior to gold reaching $1400 but wouldn't surprise me some buyers show up early in anticipation of the event.

    What concerns me more is a possibility PM's crater from here and sink to new lows... Kinda doubt it but anything's possible...?

    Silver might provide a loftier ride up the hill once the selling's complete?

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  3. Nikkei sells off to start the day- rinsing out the overbought grease.

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  4. EWJ back on the watchlist newSubmitted by 2nd_ave (5403 comments) on Mon, 03/28/2011 - 20:51 #82525
    Like the opening gaps down, which always kind of feel like soaping off the overbought grease. Next 9-handle will be a longer-term hold

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  5. Silver- Yeah, it's sure had more pop recently. Trying to get some of Davids ECUXF on the cheap :)

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  6. We did lose the 50 today though.

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  7. HEK

    http://www.streetinsider.com/New+Coverage/Wedbush+Starts+Heckmann+%28HEK%29+at+Neutral%3B+Meaningful+Turnaround+Underway,+But+Shares+Already+Reflect+Favorable+Outlook/6392288.html

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  8. I don't get this 'color' app. for phones. You get to see/share photos with people 150' away? WTF, aren't you all seeing the same Fing thing?

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  9. Landry-

    Random Thoughts:

    Monday scores as a bit of a bummer. The market stalled out in its retrace rally. It's not the end of the world but it does have the market at an inflection point. The next move from here could be telling. If it sells off hard then it would suggests that a top is in place. If it consolidates or works its way higher, then we may have dodged a bullet.

    In the meantime, look to squeeze off a short or two but ONLY on entries. This in and of itself might keep you out of trouble if the market (hopefully) decides to resume its rally.

    As mentioned recently, there are some pockets of strength here and there. So, we could end up with a market where we play both sides.

    For now though, avoid making major predictions. Continue to take things one day at a time.

    Best of luck with your trading today!

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  10. David - Be careful on REDF...it's strong right now on tiny volume. I suspect it takes another few days in this range before taking off. Buy it on weakness is what I'm trying to tell myself.

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  11. Reopening SMH @ 34.19 newSubmitted by 2nd_ave (5404 comments) on Tue, 03/29/2011 - 09:58 #82555
    50% of allocation.

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  12. Let's see if BEXP can follow CLR. Pretty similar plays.

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  13. CSCO Kid Finally Off Skid Row newSubmitted by 2nd_ave (5405 comments) on Tue, 03/29/2011 - 10:09 #82558
    It's up early and performing.

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  14. Hey Bro. How did the surgery go?

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  15. i'm getting too darn old bro, 12 screws/plate in my wrist, they had to take a lot of bone out of my hip, feel like i got run over by a truck. thx for asking!

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  16. did you see orcl might bid for lwsn? i've got to spread out more in my tech plays, doh!

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  17. Shoot. Take it easy bro!

    Any word from Cal?

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  18. David - If REDF can close above $7.5 on volume then it's a go I think.

    DANG looking really strong!

    Yesterday before the close and today at the open were bear traps...nothing else.

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  19. Putting a sell order in on JDSU at $19.95. Bought some FFIV on the pullback after a reversal at $96.1

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  20. no go on Cal, she picked UCSC over Davis and Cal Poly, i guess i'm now a banana slug dad....don't say anything she wants to tell nunu an bonka in person this weekend....

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  21. Re: This just sent market down screaming newSubmitted by 2nd_ave (5406 comments) on Tue, 03/29/2011 - 10:20 #82560 (in reply to #82551)
    It's always a pleasure to lose weak hands on the sharp drops.

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  22. Nice! So the rentals can just sit there and stare at you for a few days...My kinda fun!!

    Soccer back in full swing here. @ games this weekend. TG...Get those Fing brats out of the house!

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  23. Re: This just sent market down screaming
    Submitted by 2nd_ave (5408 comments) on Tue, 03/29/2011 - 10:31 #82565 (in reply to #82561)
    Mark H- Not exactly sure what you're referring to, but if you're talking about the downgrades, then it's reminiscent of someone in Weight Watchers crying over 209 v 205.

    reply Bookmark this Ignore thread
    Re: This just sent market down screaming
    Submitted by Mark H (464 comments) on Tue, 03/29/2011 - 10:36 #82566 (in reply to #82565)
    Yes, that's what I meant. They were trading like junk bonds way before S&P started beating the drum.

    reply Contact the author Bookmark this Ignore thread Ignore user
    Re: All shorts stopped newSubmitted by 2nd_ave (5408 comments) on Tue, 03/29/2011 - 10:52 #82567 (in reply to #82563)
    Lower consumer confidence obviously means higher stock market prices :)

    You've got it!

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  24. BAC in free fall. Gap fill @ 12.07 in play. I guess the only question is whether it happens today or tomorrow :)

    GL shooters!

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  25. My sell order on JDSU was filled at $19.95. May reload it. The stock is strong.

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  26. I'm thinking REDF moves to $8 then comes back down and tests $6.0-6.5 again.

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  27. FTWR - Gonna need another reverse split pretty soon...

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  28. Gold - Still plenty of time to form a bottom and reach my early July $1570 target.

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  29. Re: Reopening SMH @ 34.19/ OFF 34.72 newSubmitted by 2nd_ave (5409 comments) on Tue, 03/29/2011 - 13:36 #82592 (in reply to #82555)
    Taking this one as a gift.

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  30. Just imagine where SPX would be if the banks were just FLAT.

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  31. Creeping up on yesterday's high.

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  32. CP- Any idea what happened to NLY this morning?

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  33. Found it, went ex-divident today....

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  34. CALM down 2.8% today, egg business is tricky...

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  35. Sentiment Favors The Bulls newSubmitted by 2nd_ave (5410 comments) on Tue, 03/29/2011 - 15:35 #82605
    Obviously, I can't prove it- but I don't sense conviction in this rally. One reason I like the low volume advance. The prevailing opinion feels more or less along the lines of 'No way do we not pull back from here.' So we don't pull back.

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  36. CALM down? Obviously, holders need to calm down ;) It's the remaining shorts who lose sleep every night.

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  37. NLY - There are two good reasons for a pullback from the $18 level, one is issuance of new shares (usually priced @ ~$17?) and the other is ex-div.

    Either one of these two events have typically provided decent entry(assuming you're looking for an entry).

    Anything else would scare me.

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  38. Re: Sentiment Favors The Bulls/ Better Odds Sans Weak Hands newSubmitted by 2nd_ave (5412 comments) on Tue, 03/29/2011 - 15:45 #82608 (in reply to #82605)
    Keep in mind we now have far fewer 'weak hands' on board than we did pre-tsunami. Which gives the next run at 1350 better odds.

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  39. $'s going into finanacials. We close higher.

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  40. I think the Finis will be a laggards all year. The current environment is so much in their favor right now it is real hard to see how the business improves when Ben stops throwing free money at them.
    RoBear

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  41. RB > The financials actually look like a buy to me. XLF looks interesting.

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  42. SPY closes above yesterday's high and on better volume than yesterday's sell off.

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  43. Re: CSCO Kid Finally Off Skid Row
    Submitted by westcoaster (454 comments) on Tue, 03/29/2011 - 16:44 #82618 (in reply to #82614)
    Me too. It is the most hated. They never quit investing thru the lean years, PE 8X (less cash and investmnets. P/S high. Templeton would be a buyer right here, me thinks. If you haven't already, this is worth a read.
    http://www.minyanville.com/businessmarkets/article...

    reply Contact the author Bookmark this Ignore thread Ignore user
    Re: CSCO Kid Finally Off Skid Row
    Submitted by Pillzilla (459 comments) on Tue, 03/29/2011 - 16:49 #82619 (in reply to #82614)
    I think you have fallen in love 2nd. :)

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  44. Re: CSCO Kid Finally Off Skid Row
    Submitted by 2nd_ave (5415 comments) on Tue, 03/29/2011 - 18:39 #82622 (in reply to #82619)
    Pz- No way. There's only one position I've ever loved, and that's TZA.

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  45. Re: is it better to be one of the few sane...
    Submitted by Jack Senett (217 comments) on Tue, 03/29/2011 - 16:24 #82616 (in reply to #82603)
    It is no measure of health to be well adjusted to a profoundly sick society.
    -- Krishnamurti

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  46. Re: is it better to be one of the few sane... newSubmitted by 2nd_ave (5415 comments) on Tue, 03/29/2011 - 18:41 #82623 (in reply to #82616)
    Yes, but wise men know how to adapt to their surroundings. For instance, were I looking at 2 years in the joint, I would change my thinking/behavior in any way necessary to ensure survival.

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  47. On Finis. XLF chart. I see a possible head and shoulder. That pattern is wrong so often thatit cold be a buy signal. All the rat tails on the candles the past too weeks indicate people are buying any dips. Looks strong even though the experts would say it is in a neutral trend. I do like pure plays on consumer credit DEBT. DSC, and COF are certainly not in a neutral range. Can you think of any others that have not left the station.

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  48. NLY- I took the plunge today with 1000 shares. The risk is that the Fed tightens, from what I read. Then the spread which NLY lives on can be squeezed. I have been in this one before and should have stayed for the long pull.

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