Wednesday, May 11, 2011

5/11/11 Don't Worry, Be Happy

This sell-off is the best ----ing thing that could possibly happen. I was concerned about the sentiment indicators (too positive). This works off a lot of that.

If you're long, sit back and smile. Once we clear the turbulence, we're headed much higher.

(Unless you're long SLV/SLW. Then I would recommend just getting the hell out.)
Posted by at

28 comments:

  1. illiniMay 11, 2011 at 11:01 AM

    2nd - your attempt to turn the market around via a new post isn't working.

    ReplyDelete
  2. teamonfuegoMay 11, 2011 at 11:05 AM

    TOF- Wanted to free up some capital for WFR. Been "buying in low 11.20's today. I really like it as something I can hold onto and sleep at night. "

    That's how I feel about MITK Jesse...check out today's presentation:

    http://www.wsw.com/webcast/dadco21/mitk.ob/
    or just go to
    http://www.miteksystems.com/UpcomingInvestorEvents.asp and click on the top link

    ReplyDelete
  3. ChickenpookieMay 11, 2011 at 11:20 AM

    GMO - Sold those shares @ $3.12

    ReplyDelete
  4. MarkWMay 11, 2011 at 11:24 AM

    Interesting XLE isn't following this last leg down in crude.

    ReplyDelete
  5. MarkWMay 11, 2011 at 11:27 AM

    JB- You have any SPY pivots in this area?

    ReplyDelete
  6. illiniMay 11, 2011 at 11:29 AM

    TOF - I got back into MITK this morning, @ $6.02. This time I am not selling. Looking forward to them being listed on Nasdaq.

    ReplyDelete
  7. ChickenpookieMay 11, 2011 at 11:29 AM

    All I can say is there's a little more cash in my account now than there was last night, and I still own the same number of shares. ;)

    Sure, overall down, but what goes up also goes down if you're unwilling to take gains, right?

    ReplyDelete
  8. 2nd_aveMay 11, 2011 at 11:29 AM

    illini- What's the problem? You KNEW we had to back-and-fill. It's happening. Or, as we used to say in the sixties, it's HAPpenin' bro...

    ReplyDelete
  9. MarkWMay 11, 2011 at 11:48 AM

    Wonder why UXG got smoked so bad today.

    ReplyDelete
  10. JesseMay 11, 2011 at 11:50 AM

    Quite a few networkers have nice weekly setups heading into CSCO earnings. AFOP is one.

    ReplyDelete
  11. teamonfuegoMay 11, 2011 at 12:03 PM

    illini - Nice...did you get a chance to listen to their investor presentation today? i posted a link up above. major revenue growth is still about 2-3 quarters away because it takes 6 months between when a bank is signed on and when they see steady revenues...they just signed on like 25 banks in last quarter so revs will be lumpy for another couple of quarters.

    i think within 9 months MITK will be at $20...

    ReplyDelete
  12. 2nd_aveMay 11, 2011 at 1:07 PM

    CSCO bidding 18.26 right now. Let's see if it sticks.

    ReplyDelete
  13. IgorMay 11, 2011 at 1:10 PM

    CSCO looking good!!

    ReplyDelete
  14. RoBearMay 11, 2011 at 2:04 PM

    A funny comment on stocktwits:
    "CSCO headline of 2011 ...'Wow, Cisco still has that Hitler looking guy running them into oblivion? and has earnings today?"

    ReplyDelete
  15. JesseMay 11, 2011 at 2:09 PM

    Been listening to about 4 hours of WFR conference calls today:(

    Let's celebrate not buying those CSCO calls by putting some of the savings into cases of Natty Light.

    ReplyDelete
  16. IgorMay 11, 2011 at 2:10 PM

    CSCO what happened? I thought they beat the earnings for a second and then I guess Chambers presented the bad news

    ReplyDelete
  17. DavidMay 11, 2011 at 2:18 PM

    Igor -- traders are simply following a well-established tradition of selling CSCO after hours during the earnings announcement. :)

    ReplyDelete
  18. 2nd_aveMay 11, 2011 at 2:35 PM

    Igor- I'm not worried about CSCO. Normally I would have sold immediately into the AH spike, but not this time. It would not surprise me in the least to see it back above 18 tomorrow.

    ReplyDelete
  19. 2nd_aveMay 11, 2011 at 2:43 PM

    Or above 19 within a week.

    ReplyDelete
  20. teamonfuegoMay 11, 2011 at 2:51 PM

    2nd > I doubt it man...its part of the old vanguard.

    ReplyDelete
  21. MarkWMay 11, 2011 at 3:36 PM

    I've lost track. Isn't the end of the world this month? Just want to make sure I'm wearing clean underwear.

    ReplyDelete
  22. MarkWMay 11, 2011 at 4:19 PM

    Come on, you know you want to hit my GMO AH bid...Why wait? You know you can't hold it overnight. Just get it over with...

    ReplyDelete
  23. MarkWMay 11, 2011 at 4:37 PM

    Just looking at the news from CSCO that crosses my screen...

    Warning weakness next quarter
    Laying off more employees
    Doesn't know when switching business will return to growth
    Will cut 1B in costs from FY12 run rate.

    That's what stood out to me. Who knows.

    ReplyDelete
  24. illiniMay 11, 2011 at 4:40 PM

    No Mark, E of W as we know it occurs after all the Greenland ice melts and the oceans rise 5 feet. You and your underwear have plenty of time.

    ReplyDelete
  25. MarkWMay 11, 2011 at 4:43 PM

    Thanks Illini- I was worried about messing with the rotation.

    Off to soccer practice. Ciao...

    ReplyDelete
  26. ChickenpookieMay 11, 2011 at 4:46 PM

    Too funny Mark, the one and only time you're concerned with the cleanliness of your underwear occurs right before you're most likely to soil them. ;)

    ReplyDelete
  27. illiniMay 11, 2011 at 5:06 PM

    Enough of this trash talk. Lets talk about treasure stocks like CSCO that are presently being trashed.

    ReplyDelete
  28. ChickenpookieMay 11, 2011 at 5:23 PM

    RBY - Sure seems awfully strong since the gap up was closed, I may have to rejoin the club if it happens to pull back much more.

    ReplyDelete

Subscribe to: Post Comments (Atom)