Monday, November 28, 2011
11/28/11 Instant Karma
Instant Karma's gonna get you
Gonna look you right in the face
Better get yourself together darlin'
Join the human race
How in the world you gonna see
Laughin' at fools like me
Who on earth d'you think you are
A super star
Well, right you are
I've alluded to at least two instances of 'what goes around, comes around' this year involving people I know. Karma, as they say, is a -----.
Enough about people I know. The topic is relevant, however. When it comes to market forecasts, the speed of karma can indeed approach 'instantaneous.'
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You may have instant Karma, mine's more like a Karma cleanser that does nothing but go round and round! ;)
ReplyDeleteWho controls prices, isn't it the 1%? Wonder if as a group, they plan on allowing prices to rise in order to compensate themselves for the losing strategy of trying to prevent higher taxes on the 1%?
ReplyDeleteMore circular thinking...
XWES, maybe mkt does not like this.
ReplyDeleteForm 8-K/A World Energy Solutions, For: Sep 13BY 10K Wizard
— 4:45 PM ET 11/28/2011
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7927796
Filed on: November 28, 2011
A lot of non-believers in today's rally. Usually is after a day like this.
ReplyDeleteI think the negativity will help carry the market upwards quite a ways still. Need to get fewer bears.
Fewer bears more beers! ;)
ReplyDeleteT3D - You like Thorium? I can't figure that one out myself from a technical perspective, but I do detect a hint of resistance from certain self-interested groups...
Incidentally, I believe SHAW is the contractor providing the Toshiba/Westinghouse reactor construction services in China. I learned this while performing DD on CADC.
MITK would be @ 12.00 if it wasn't for that shelf sitting out there.
ReplyDeleteFWIW I had bids in today @ 6.74.
There's a very pretty local TV anchor here.
ReplyDeleteHer name is Maureen Naylor.
Too funny!
ReplyDeleteGMO - Under $3 has been a very good trade for a while now...
ReplyDeletet3d - i see nothing fishy in that filing. based on 2010 numbers, which look like they include lots of overhead and r&d costs that might not necessarily apply to the division xwes bought, they paid 10 times earnings. based on 6 months 2011 numbers its 2.5 times earnings. i think the real number is somehwere in between...its probably somewhere around 6 or 7 times
ReplyDeleteif the 1990 parallel holds then we should see a break down to slightly lower lows (maybe like 1,140) and then a rocket move higher.
ReplyDeleteWhat a fantastic day I had, mostly because I didn't realize how bad last wed was. I guess I checked out a little early for Thanksgiving here we are not far from last Tuesday's close.
ReplyDeleteI did nothing today with the ramp up at the open. So now it seems that my biggest short term risk are my Dec cf calls. It looks like I need CF to run up about $13 from today's close just to break even. It would have to be this week or early next week. It's a bit of a guess with these short term options.
To me the charts still just look ugly. Since i'm mostly long STUFF, I didn't like the poor action in TBT, crude and the euro. I also don;t like just ramping up so much on the open and just staying put all day, very strange. We'll see what tomorrow brings.
Port- I agree with all of your concerns.
ReplyDeleteDEXO...Anyone follow this bad boy?
ReplyDeleteDEXO the old RHD. I owned that a few times in the past. I Think some Barron's article gushed about it so I bought it. Guess it went bankrupt. Glad I am not a buy and holder along with being a fanboy of Barrons.
ReplyDeleteI still own 3 stocks at a loss so great that I will not sell. One rather recent winner is PHYS. I am 70% cash and bearish, as is my algo, even after today, in all 3 time frames.
ReplyDeleteHEY IllI. NIce to hear from you. I am more "ah blah" than bearish. Hard to have conviction in either direction.
ReplyDeleteWho are all these bums on wikipedia looking very gaunt begging for money? If i wanted to look at sad eyes asking for a handout I would walk to the REDBOX.
ReplyDeleteActually I have backslid on my policy of not giving money to panhandlers. Seem to be more "normal" people looking for a handout and that is saying something in the middle of Meth village. I practically feel like John D Rockfeller handing out dimes to all the poor starving depression kids.
http://www.youtube.com/watch?v=J0FHe-zBrhE
SPX - 3:35 PM BofA's Mary Ann Bartels is the latest to see echoes of 2008 in recent market action: "The rally in the S&P 500 off the Oct. and Aug. 2011 lows is similar to the rally off the Jan. and Mar. 2008 lows... Last Monday’s break below the 50-day moving average, near 1207, points to a repeat of the 2008 pattern and targets a move down to 1150-1100, with the risk of the Oct. low of 1074 being tested."
ReplyDeletehttp://draftsantelliforpresident2012.com/
ReplyDeleteStinky's on MITK @ 6.55/6.54...6K
ReplyDeletei like the play Mark, but only for a trade.
ReplyDeleteTOF- I actually just pulled it. I need to run, and I have a weird feeling today could get ugly.
ReplyDeleteNOIZ won another contract:
ReplyDeletehttp://finance.yahoo.com/news/Micronetics-Receives-2-4-bw-1900086455.html?x=0
I'd be shocked if this stock isn't double what it's at right now at some point over the next several months.
FD: Long from $6.95 to $7.15
I'm spooked too, would it be a good idea to place a stop limit order for some insurance, or will the bomb come in AH and any effort at self-preservation as always, be futile?
ReplyDeleteTZA - watching to see if TZA can get it rolling on say an SPX 1195 break
ReplyDeleteI was listening to some guy on Bloomberg while I was on the road a little while ago...can't remember his name but I totally agree with his views. He said he thinks they will definitely find a solution on the Europe crisis. He thinks the ECB will give money to the IMF to lend to Italy and Spain at 4-5%, which will solve their debt problems for the next few years. In return they will balance their budgets and get in line with IMF's demands. He said the Euro would be much lower than it currently is if that wasn't going to happen. The euro is at the same level it was at 2 months ago, he said, and since then Italy and Spain's interest rates have risen significantly. He said he thinks that the US market and US media is perceiving things to be much worse than the European market is and that the European market will solve the problems.
ReplyDeleteI completely agree with that..and think that if things were really going down the tubes then we would be lower than the lows from August. I think if they do get a IMF loan that will calm a lot of peoples fears, then people will focus on earnings and realize just how cheap some stocks are and they will realize that the US is driving things and the US economy is still growing. And people will begin chasing stocks. I think a big rally is coming up. Possibly up to 1,400 within a few months.
I think we could get one more selloff to scare the crap out of people and get the last of the nervous longs off board. And then we will ratchet higher.
ReplyDeleteDid any of you guys catch Dicker on CNBC re-RIG?
ReplyDeleteRIG- 40 is HUGE triple support.
ReplyDeleteMark - Yes re RIG and Joe T. said he wouldn't touch it. I was looking at say shorting the Feb 35 or 32.5 puts....
ReplyDeleteKyle- Did Dicker say if he closed his position?
ReplyDeleteMark - I thought he said he was riding it out.
ReplyDeleteSo Dicker still likes it but not Joe?
ReplyDeleteThanks Kyle.
ReplyDelete"US market and US media is perceiving things to be much worse than the European market is and that the European market will solve the problems."
ReplyDeleteMy logical guess on that is b/c they want to accumulate underpriced equities, and otherwise force more favorable terms for themselves, like keeping the money spigot flowing.
Why at this point anyone not being paid to, would listen to these banker's intellectual insults is beyond me.
Famous last words, huh?
Is Joe T Joe Terranova? If so he's the reason I stopped listening to Fast Money...I've honestly never heard a more useless commentator on the market than him.
ReplyDeletehttp://www.cnbc.com/id/45475530 ... they eventually get to the oil discussion, but RIG debt sounds big & potential dividend cuts.... I don't know man
ReplyDeletethats just my opinion, which is probably wrong. i just recall him often reacting to the market/individual stock moves instead of anticipating them.
ReplyDeletedoesn't mean they're wrong about RIG. i typically steer clear of any company with tons of debt.
ReplyDeleteTOF- NO, your right. He's a tool. Dicker plays it straight though.
ReplyDeleteJust listened to the link, thanks Kyle. Dicker made a pretty good case. Let's wait to see if the divy is cut, then we jump.
ReplyDeleteRIG - went short a couple of Feb 32.5 puts to keep it on my screen. Have found that my swing-trade performance improves by 1st being 'in profit' on OTM short puts...
ReplyDeleteLike the puts Kyle.
ReplyDeleteMITK...Come on baby, just puke it all out. You'll feel much better.
ReplyDeleteMore analyst support for CSTR:
ReplyDeletehttp://blogs.barrons.com/techtraderdaily/2011/11/29/coinstar-dont-sweat-debit-fees-says-piper-q4-slate-looks-good/?mod=yahoobarrons
Dan Dicker - I like him ... he's Long Swiss Clocks, Chocolate & RIG...
ReplyDeleteMark - u get my email? I forwarded it to you again a couple of days ago.
ReplyDelete"see if TZA can get it rolling on say an SPX 1195 break"
ReplyDeleteYeah, I see where the close was right there too, TLT down slightly(not yesterday but today, LOL!) along with dollar a little, and copper closed up nicely. Looks like JPY closed slightly up, I recall back when I could buy over 140 Yen for my dollar, maybe it was 120, can't clearly recall... I also remember paying 1M Lire for my apartment rent in Italy.
CP - thought we might get one of those EOD cascade sell-offs, but 1195 was sticky.
ReplyDeleteDid you say you like Dicker because he is a straight shooter?
ReplyDeletehaha nice catch RB
ReplyDeleteOh, now I get it... sheesh...
ReplyDelete"America's 50 Biggest Banks (And Bank Of America Isn't #1) S&P Cuts Credit Ratings on Several Large Banks"
No, cause he's fatter than me.
ReplyDeleteMITK- People are coming home and opening a beer, and firing up their computers to check the day's action...That's the last 2 trades you see for MITK!!
ReplyDeleteBAC - Hmm, $5.08... $3 coming, then $2....$1...$0.5....?
ReplyDeleteWatch, silver/gold plummet too, b/c they can.
GLW/OVTI
ReplyDeleteCP- I never thought in a million years you'd get your 3 spot. Now I'm not so sure.
ReplyDeleteAMR - Very nice timing, almost eerie.
ReplyDelete