Thursday, June 20, 2013
06/20/13 Line Away!
EEM/ RYWVX finished off an additional -4.48%/ -7.19%, another instance where taking hits quickly saved my ---. GDX/ GDXJ off -7.4%/ -9.8%, with even Silver Wheaton (SLW) closing down over -9%. I have to wonder if Long John Paulson added to his positions in GLD and miners today.
My port stumbled almost -4% on Wednesday on a dice roll, but is the casino any 'safer' for investors holding index funds? The benchmark SPY ('Spyders') closed down -1.38% yesterday + an additional -2.48% today for a 2-day decline of -3.86%. That sounds a lot like 'almost -4%' without the fun of rolling the dice!
Subscribe to:
Post Comments (Atom)
No doubt John "Shiver me timber" Paulson has a set of these, wonder if they shrink?:
ReplyDeletehttp://kalecoauto.com/index.php?main_page=product_info&cPath=11&products_id=38&zenid=udocd3u94k5fgkbkq1amit0k07
Only 35.95 + tax for brass balls? Now I know why so many guys own a pair.
DeleteI was hoping for an update from Kaplan (http://truecontrarian-sjk.blogspot.com/) but I don't see one. If he's as good as I think he is, then stop losses must be in place. If they didn't trigger yesterday or today, he's made a misstep.
ReplyDeleteSCTY - Speaking of BB's, wonder if they're gonna pound this one into oblivion?
ReplyDeleteNSPH - Is that a $2 flag pole, or $1.25 ?
ReplyDeleteIn response to comments made yesterday and earlier today> Leading several hundred thousand followers to the slaughterhouse, only to reinvent oneself as a travelogue writer when the hammer falls? Life is stranger than fiction.
ReplyDeleteSpot silver ringing one of my favorite years, 1968.
ReplyDeletehttp://www.kitco.com/charts/livesilver.html
Not to worry, it won't last long.
DeleteSNTA - Looks like a hammer.
ReplyDeleteSorry for false alarm, not the desired hammer.
DeleteBC quite his blog?
ReplyDeleteMUX - Looks like this one retests $2.25 then retests 52wk low?
ReplyDeleteLast Friday was rally day, wasn't it?
ReplyDeleteevening, i sold some more TBT today at 72.65, way below the high. That leaves me with a 1/4 position. I'm thinking about selling short some July puts. It sure seems like TBT is getting a little carried away.
ReplyDeleteSNTA- 3.85 is a pivot going back 5 years.
ReplyDeleteI've given back 4% from my yearly high now.
Why do people say 'massive heart attack'?
ReplyDeleteIn order to create dramatic effect.
DeletePull up a 5 yr of both GDX and SPY. Wow. Don't even look at GDXJ.
ReplyDeleteRemember about 2 moths ago I was talking about the dude on CNBC saying half the juniors would go under? It's getting close. Cheapy over at CC is asking why they don't close down the mines.
ReplyDeletedude only 4%? then again that makes sense since youre playing with like 25% of ur $$ right? i just checked and i'm now down about 2.5% from when i sold my YRCW. WLT and FMD gave back my NOK/CECO gains. i still think we will see new highs in a few months but am keeping an open mind.
Delete"close down the mines."
DeleteRBY has no income anyway, so of course Cheapy would like that.
If commercials are net long, that suggests they're not selling, right?
SCCO - Wonder if this one can make it back to under $25 during this cycle?
ReplyDeleteSWC - Looks like it's close to a buy, huh?
ReplyDeleteI made a crab pot of money off this one last time it was this low, sold it way too early, as well.
DeleteNikkei and Sensex green. I still think people considering shorting the Nikkei will get smoked long term.
ReplyDeleteORCL - Ouch, ouch, ouch.... I think I saw an upgrade on this one just a couple days ago, too.
ReplyDeleteWhy do I always end up working for companies that are going down the drain?
DeleteOracle's got some definite issues. When I did sales for them (9 years), they really did a poor job of working with customers and trying to come up with a fair solution. It was always whatever was best for Oracle and we sales people had to work around to make it fit the customer. Even when we came out with cloud-like solutions, the customer had to buy the license and then pay a service fee to run it on the cloud as opposed to the pay-for-usage model most customers go with.
DeleteI think being a database provider is going to get harder as pricing and margins get squeezed. Being an application provider like SAP and Salesforce is where you have long term sustainable advantages. Oracle is trying to go down that route, but I wonder if the culture is right to make that happen.
I know many people who left Oracle to work for SAP and Microsoft and all say it is a better place to work. The one guy said, "well, I guess the companies are similar except that at SAP we care about our customers and employees".
But ORacle is a long way from going down the drain. They've got huge high-margin support streams that will let them buy into whatever they want to an Ellison is a very smart guy.
DeleteGPL was a stock we all admired in 2011, as it went up from $0.70 to $4.50 in 4 months (QE2 coincided with them going into production). Now it is an established producer, and it stock is ... back to $0.70. Unbelievable...
ReplyDeleteI was just thinking of GPL, hadn't looked at the chart lately. PE of 18 doesn't sound too good. SLW is probably the safest play, or is their business model gonna get whacked?
DeleteBrandt published updated observations for PM's on his site less than 24hrs ago, have you seen it?
Up next, "The Commodity King" (whose fund was shut down in, Yen terms) @CNBC
ReplyDeleteIs this true?
Did a little buying yesterday. It's a restructuring of a small Canadian engineering firm, so got some debentures down about 10%. Not sure if it is the bottom, but I think you want to start nibbling soon.
ReplyDeleteUBS downgrades NEM to neutral TODAY?!
ReplyDeleteBetter late than never?
DeleteSNTA- Off at 4.19. More insider buying yesterday.
ReplyDeleteDid someone die?...Speaking of which, I still don't understand what Cara is doing. His blog is still there but he doesn't comment anymore?
ReplyDeleteHe's traveling, and weighs in occasionally with comments about the sights.
DeleteAh. Yes, of course.
DeleteCara no doubt is on refreshment holiday, taking a break from being mad with the world?
DeleteCraig- What's Dave saying now about the trend?
ReplyDeleteTaking another shot at RYWVX @ the 1030 am est window.
ReplyDelete"the S&P sliced through the fidy like butta".
ReplyDeleteThe database, with a couple of exceptions, has been almost all shorts. Today there are some longs (like DANG) because of yesterday's sell off (knock out), but it would take a pretty good day or two to trigger those.
Bowties crossed off of all time highs is a powerful signal.
I have to say....he has been on top of this roll over.
yeah so far so good...although he was cautious from last fall too right? i still think we head higher after this healthy pullback. we shall see. all eyes on the bond market, which is as oversold on the weekly charts as its been for the past 10 years.
DeleteButtabean, buttabean.... ;)
Deletebigger picture, doesn't landry always preach to wait for a pullback to old highs after a breakout? we're at 1,587 right now...old high: 1,576.
Deletejust from experience it seems pretty customary for the pullback to pierce a bit through old highs to scare the shit out of people before reversing course higher. so perhaps we get down to 1,550 or so? we shall see.
DeleteYou just have to understand, the database (data) dictates what we do, not guessing. There is no such thing as "always". The system is not mechanical, it has discretion built in.
DeleteWe let triggers, position size, stops and money management get us in or take us out long or short.
There are no predictions because nobody knows what will happen.
All I can say is in reviewing all of the morningstar sectors this AM I didn't see any that were spared yesterday and many continued their down trend.
i understand what you're saying i just remember him talking a lot about how the setup he would prefer is a move through highs and then a pullback. seems odd to me now that he's cautious given on paper this is what he was talking about as a good setup but it is what it is.
DeleteAs I wrote, all of the set-ups now are long, but they have to re-establish that upward trend to trigger. We are pullback traders, but we don't try to bottom tick or top tick pullbacks, we wait for the trigger.
DeleteSo, for example, if DANG were to get to about 7.80 it would trigger a long entry. If it doesn't, it doesn't. You might buy a spike down (and we might too as a OGRe day trade) but if we are trend trading we go with the trend.
ok gotcha. which trend is he looking at? i'm assuming shorter trends right? i tend to find that longer trends on weekly or monthly charts are much more powerful.
DeleteSwing trade entries, exit half the swing trade, let the rest run long term with a stop at break even. It's the best of both methods.
DeleteIf we get new highs and a measured pullback, then that is the knockout and hopefully the trend resumes. IF however, the pullback is into or past the previous range (support), we would be cautious because then it's more than just a pullback and it may be a short entry. It's all about the psychology of the chart.
Short term because the bowtie/50 dma and if you are going to short you want to get in earlier than a weekly or monthly chart will indicate.
DeletePlus we are below the fifty. So we have the moving averages and the fifty warning.
If it reverses and triggers, we reverse.
FMD - Added some at $1.11, just before the big ask knocked down the bid.
ReplyDeleteCould be, today's trade at $1.04 completed the right shoulder of IH&S on weekly chart, not planning to add any more until we revisit lower BB.
i had a buy at $1.09...I don't think that low print is accurate. Did you guys see it go through?
DeleteI take it your $1.09 hasn't filled yet? $1.04 is unconfirmed, maybe one share traded? I have no way of knowing if it actually traded there (Not smart enough to know where to look, I guess).
Deleteyeah i haven't gotten filled on $1.09. I don't even see my buy listed on level II. weird stuff.
Deletelet's just get another lender partner signed already!
"Ann H. Heffron - Zacks Investment Research Inc.
Okay. Are you having any more luck on getting more into...
Daniel Maxwell Meyers - Co-Founder, Chairman, Chief Executive Officer, President and Member of Award Committee
Well, that's a forward-looking statement, Ann. But I will tell you that we have found that the pipeline conversations have been extraordinarily active of late."
My bid is fir 2000 shares at 1.09....,
DeleteNot sure if it filled or not I'm mobile. Xhb stopped out at 29
Schwab has 124,484 @ 1.04. They say it could have been an inter market sweep though.
DeleteBids not showing up...The MM only has to show the best bid/ask. That has happened to me a few times.
DeleteThat Maxwell guy sounds pretty smart, guess we get to see if he's still got the touch.
Deletedid you read his comments on the securitization market? dude is pretty thorough in his remarks...the guy asking this question on the conf call laughed after he was done responding. my guess is he didn't expect such a long winded response:
Delete"Christopher R. Donat - Sandler O'Neill + Partners, L.P., Research Division
Dan, I want to revisit something you said on last quarter's conference call about not wanting to do any demonstration projects. I think that was a phrase you used as far as securitizations go, because I think there's a view out there that maybe in these market conditions, maybe the right thing to do for First Marblehead is to get out with a securitization. But I just wanted to get a sense of your thought process on weighing sort of -- or trying to optimize what's the best transaction for sort of the near term and then longer term for the company on -- based on the conditions we've seen, particularly this past quarter in the private student loan ABS market."
his response:
Delete"Daniel Maxwell Meyers - Co-Founder, Chairman, Chief Executive Officer, President and Member of Award Committee
Sure. Well, let me try and break that into -- this is a little bit stream of conscious, but let me try and break this into kind of 3 general areas. First of all, we're stewards of our shareholders' equity capital, and we take that responsibility very clearly. So in terms of doing things just on a demonstration basis where we want to prove that we have the ability to take, what I call, an ultrahigh quality portfolio and monetize it or securitize it just for that specific period -- purpose, I remain in thinking that that's not a good use. The second is, is that in front of me, I have some indicated spreads for the industry and the benchmark issuer that go back a year. Now clearly, for the last year, I've been saying that the markets are becoming either actionable or are actionable. If we looked at the class B and C bonds, a year ago, they were trading at relative indicative spreads over LIBOR somewhere between a little over plus 500 and plus 600. And they have now dropped to, well, the exact number that I have in front of me is for the B bonds, which would be AA rated bond, just under LIBOR plus 200; and for the C bond, just over around 237 over -- so you've seen that those spreads have declined by as much as almost 400 basis points over the time period. At the same time, the AAA rated tranches have generally gone from the plus 150, 200 area to the plus 50, plus 70 area. So if we had done a securitization a year ago, even though we thought it was actionable, it would still yield a positive ROE across the life of the loan portfolio for the company and its shareholders. We would've left an awful lot on the table. And if anything, we have seen that the subordinated bonds, the A and AA rated bond spreads in the secondary markets have come in the most in the last 3 to 6 months, as the benchmark issuer's last deal was tremendously oversubscribed. As a matter fact, the largest oversubscription I've ever seen in my career. So item number 2 could be summarized as, if we had gone prior to this drop in spread, we would've left a lot of our shareholders' money on the table. The third is that it's not our only option. Through a partnered lending in our banks own balance sheet, in our own use of capital, we look at those leverage ratios and those capital cost ratios essentially every single day. We target things, as Ken mentioned, that it was a small uptick, very small uptick in cost of funds at Union Federal, but that's because of a good thing because the bank's balance sheet was growing, and the ratio of new deposits to TMS float deposits had increased. So overall, for the company, not a bad thing, actually, probably a good thing. But still, more efficient than executing even in this diminished spread environment that we're seeing now. So for those 3 reasons, I think we remain aware and vigilant, and we're watching this on an everyday basis. But I think the one thing that nobody's going to accuse us of is being stylish.""
Intermarket sweep sounds like a stop sweep? I do see a 120k+ volume bar but I'm not sure if that's the $1.04 trade, I thought it occurred earlier but I wasn't watching that closely.
DeleteDan Meyers can actually articulate, we may have actually have a chance. Sometimes pipelines have a tendency to dry up for long periods though, on a wish and a promise as circumstances are dynamic with legislative changes, rate changes, territorial warfare, etc...
yeah good points. there are regulatory risks but i still think there will always be a market for private student loans. and that market is filled up with new students every single year without fail.
DeleteI think the market is too focused on current profits and potential regulatory risks because the company hasn't turned a profit in years. I think it's being way too pessimistic. hence the $120 million mkt cap (vs. $190+ book value and $130+ unrestricted cash). While the company is still losing $$, this amount has shrunk from $12 Million per quarter to $8 million per quarter in the past year. Let's say it takes 6 more quarters to get to breakeven, which would eat into maybe $30 million more cash. So unrestricted cash would be $100 million. It's just my belief that the 20+ years of data modeling and the Cology + TMS businesses are worth more than $20 million. Shit they bought Cology and TMS for $50 Million or so in the past 2.5 years.
Granted, you've got an uncanny ability for sniffing these deals out, much better than me for sure. Could look at it from the perspective our large seller is doing us a favor each time he shows up with his 124k large presence on the ask, half of today's volume so far is unrealistic supply but hey, I'm not gonna look yet another gift horse in the mouth b/c after a few times watching the launch gets old ya know.
DeleteHammer, so far today..... Good news and BANG!
let's just hope we're not sniffing a pile of dog excrement!
DeleteSomeone pissing on our heads again? Where's my umbrella....
ReplyDeleteyou guys remember when we were discussing SPF as a long term buy down around $2.50? i think it was in 2011. this sucker hit $10 recently.
ReplyDeleteSPF - Yes, I do recall this ticker now that you mention it, absolutely. And I just wrote it down so I won't forget it.
DeleteGood work TOF. Let's just say, I've learned not to doubt your financial powers of observation.
PE isn't in the clouds, either.... Hmmm...
well, now is not exactly the best time to buy. If only we all didn't get scared away by the market panic back then. i remember we walked through the thinking behind there being a potential shortage of housing and it all sounded plausible to me. i think i was busy hiding in some stupid dvd vending machine company at the time, too concerned with the end of the world.
Delete"the end of the world."
DeleteWe missed out apparently, according to SPX the economy is booming again.
boy NOK and GRPN sure are holding in there ok.
ReplyDeleteCC - I think part of my confusion with Landry's commentary is it always seems like he does indeed have an opinion and with the methodology he stresses to not have an opinion. When that happens and things change technically i'd have to image it makes it really hard to shift your position because of your opinion.
ReplyDeleteHaving said that, I think the only way you make big money in markets is having an opinion and putting money behind that opinion. obviously, having conviction and patience is just as crucial, as is being able to admit you're wrong. no one said its easy.
PIE in your eye?
ReplyDelete$USD is up strongly today once again, but now gold and silver are up -- go figure...
ReplyDeleteEven though I said a few days ago that expected inflation did not have consistent correlation with gold over the past 3 years, I can't shake off the feeling that *recently*, it is the drop in expected inflation that caused the drop in gold:
ReplyDeletehttp://research.stlouisfed.org/fred2/graph/?graph_id=87988&category_id=0
Yesterday it dropped below 2%. So even though all gold bugs are focused on gold and are taking the gold drop personally, I have a feeling that it is not about gold at all.
And sorry, folks -- such a large drop in expected inflation does not suggest an economic recovery. If anything, it is suggesting that a recession is coming. You read it here first. :)
I think you nailed Wednesday's recession? ;)
DeleteWhat's this madness! I'm actually here before the close....but only for a few minutes. I like the action so far.
ReplyDeletebuying anything?
DeleteForget it, you snooze you lose. Take your $0.02 gain and run, recession resumes at 16:01 Eastern. Have a nice day! ;)
DeleteJust another 4k of GMO this morning.
DeleteSNTA - Boy am I regretting second-guessing that one....
ReplyDeleteFMD - We made the list, and there's at least one other familiar ticker mentioned as well:
ReplyDeletehttp://seekingalpha.com/article/1513972-one-year-later-9-rallying-stocks-under-5-attracting-hedge-funds?source=yahoo
As an update of futures positions for commercial traders, this Friday's report (which reports positions as of this past Tuesday, prior to the gold/silver crash) showed that 100*(CS-CL)/(CS+CL) dropped from 16.6 to 12.4, setting a new 10-year low. The previous 10-year low was 14.7, set on May 20.
ReplyDeleteSince CME hiked gold margin requirements by 25% effecting as of the EOD today, next week we should see a wave of selling by small speculators, and so next Friday's report will likely show that commercials buying even more contracts from speculators.
4:27 PM Golden Minerals (AUMN) -3% AH after announcing it is suspending operations at its Velardena mine to conserve the asset until operating plans and prices for silver and gold indicate a sustainable cash margin for operations. AUMN estimates ~$7M in related charges in Q2 and Q3.
ReplyDeleteWTF... There go my October $2.50 call options...
DeleteThe shareholders (not the stupid call option holders) will probably benefit from this decision, as it really doesn't make sense to produce with a negative operating margin.
DeleteThinking this through a little more, AUMN became a great long-term investment now for those who believe that silver and gold prices will recover. After suspending operations, they are guaranteed not to run out of cash (they expect to have $14M at the end of 2013), and so now their financial profile became like a hockey stick -- flat until gold/silver recovers and then going up.
DeleteDavid - Never underestimate a company's ability to waste shareholder capital.
DeleteFirst thing I thought of when I saw this was options. Bummer bro.
DeleteDavid, the only unexplored alternative at this point is, buying options on margin or possibly buying GGN.
DeleteTalk about going long by shutting down, why not take existing cash and buy up physical? Full circle, lever up while everyone else is delevering.
This is what MOG was saying...
ReplyDelete5:11 PM Apache (APA) is likely to announce asset sales - the "next big catalyst" for the stock - near the time it reports Q2 results on Aug. 1, Simmons analysts say. Most likely assets on the auction block include APA’s deepwater Gulf of Mexico properties, some other Gulf of Mexico assets and a fertilizer plant in Australia. On its Egypt assets, APA likely will bring a partner into the mix but it will take time.
How many of you cats think the market bottomed today?
ReplyDeleteI give it 60-40 yes. I wold have thrown a little more cash at it if I was here. Back to only GMO after selling SNTA to early as usual.
DeleteIn that case, I give it a 40-60 no, pending AWOL Bouncemaster 2nd's approval. ;)
DeleteSmart choice bird boy. I'd fade myself if possible!
DeleteI will be drinking tonight.
ReplyDeleteYou're the man! (the operation was a success)
DeleteI don't think we're bouncing back to new highs anytime soon, but I do think we bounce. It was actually nice to have the morning selloff, as it cleared out many weak hands. Let's hope the optimism carries over into Monday.
ReplyDeleteNOR - Got a little volume spike there....
ReplyDeleteWe need one of these for the DT site:
ReplyDeleteStall warning device:
"Warns by light and horn of any danger of an approaching stall regardless of the flight maneuver. Never signals unless a stall is imminent. Consists of an instrument panel unit (fits standard 2-1/4" hole) containing a warning horn and signal light, and a small vane wing unit which operates a relay. Operation of the instrument does not depend upon air speed but rather on the air flow conditions of the wing. Complete with installation kit & instructions. Installation time: 26 hrs."
looks like my order went set at 1.09 went through at 1.04 for FMD. I m not complaining
ReplyDeleteThat means it wasn't a sweep then. Interesting.
Deletewtf. how did that happen?
DeletePZ, what was the time stamp on that trade, before 09:45?
DeleteTOF, just be glad it didn't happen to your order, whew! ;)
Deletejeez the move in munies over the past month has been almost as bad as it was in 2008:
ReplyDeletehttp://finance.yahoo.com/echarts?s=mub#symbol=mub;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
Same is true for many REIT's, NLY is trading below those levels.
DeleteI have a thing for buying beat-up stuff but MUB yield is rather low and upside potential doesn't seem like enough. Maybe we can find an lower entry.......?
The thing about REIT's though, is it's hard to gauge how rates might move going forward, a flat yield curve as if recession is returning would whack their spread income while higher rates overall would whack book values.
DeleteIt's possible REIT's are entering the perfect storm, or maybe everything's priced in already and it's time to load up.
Prices can move much further than one might anticipate.......
Silver - Wonder if the low was $19.70, or if this was just another bounce on the route to $16?
ReplyDeleteLarge drop in expected inflation?
ReplyDeleteAnticipatation of recession yes, but would recession be cause for higher rates?
Globally, rates are on the increase?
The FED just increased their GDP figures, didn't they? That would indicate a continuation of growth, no?
Are we looking at a prime entry for commodities here? Based on rising rates, which isn't indicative of recession, perhaps growth is about to gain steam?
Let's say rates were to rise by some large amount, would the US debt receive a downgrade? Obviously the US could print as necessary, to avoid debt default.
I just find it hard to believe that markets would give up any large percentage of gains just so that 2nd could miss another opportunity at lower prices, that would be incredible.
All last year I was thinking we would get a euphoric rise to 1,700 and then a fall back to 1,350 based on similarities to the late 70's / early 80's. I also was thinking in my head that would be accompanied by a big spurt in sentiment and a spike in oil prices. Well, both of those didn't happen despite us hitting 1,687. I think we have a long ways to go until this bull market tops. The reasons being many fold:
Delete(1) housing prices are still reasonable relative to rent and disposable income levels
(2) interest rates are still very low, despite the 1% rise over the past few months
(3) the labor market is pretty steady and yet still has a lot of room to improve
(4) valuations (roughly 15X) are still in the lower half of where they have been over the past 50 years
(5) Europe and Japan (3rd and 4th largest economies in world) appear to be improving
(6) the worst part of the credit crash from 2008 (subprime and student loans) continue to improve to the point where they are at the strongest points (based on spreads) since 2007.
(7) consumer sentiment still has a long way to go to get to the 1980's and 1990's levels.
(8) investors continue to be skeptical about the rally, pointing to Fed support as the primary reason for the 150% rally off the lows.
(9) NYSE floor volume is in the dumps, nowhere even close to what it was in the late 90's when retail investors were in the market (i.e., retail has yet to participate):
http://www.foxbusiness.com/industries/2012/12/20/ice-to-buy-nyse-euronext-for-82b/
(10) The safe havens that people sought for the past 10+ years appear to finally be reversing (i.e., gold, emerging markets, treasurys)
The only real concerns I have at this point are the rate of change in the emerging markets (is there a real problem in China?) and treasurys, but if you look at the absolute level of each I dont think it's that much of a concern. Also, I think everyone is focusing on these so they're kind of a known knowns.
Obviously, this doesn't mean the market can't pull back 20% on some crazy panic driven issue in China etc but longer term I think this market goes a lot higher. I think the majority of people still question if this is a secular bull market and that's a good thing.
Good article from Santoli on the risks in the bond market and the effects of ETF's on these.
ReplyDeletehttp://finance.yahoo.com/blogs/michael-santoli/balky-bond-market-plumbing-big-hidden-risk-145357441.html
I've also read elsewhere that bonds inside the bond ETF's trade at higher valuations than ones outside of it.
So, if you want to trade muni and other bonds here, I think your analysis has to be more about what will happen TO ETF flows and how it will affect prices than the value of the bond itself.
The more I think about it, I think these ETF's have caused more market distortions than value for investors.
BB - I agree with you regarding ETFs in general. Primarily the leveraged ETFs. There's really no reason for those to be around. I wish they would get rid of them but it is what it is.
Delete"one result is that particular bonds issued by a given company will trade at a big premium based on whether it is in a bond index and/or is more liquid."
DeleteLiquidity has it's premium? Doesn't this support the thesis claiming liquidity is expensive?
Is this where algo's make money(by providing liquidity and other funny business inherent with black-box "services"), how can you have synthetic liquidity without paying something for it, and maybe(likely more often than not) WAY TOO MUCH?
How does one avoid being trampled by elephants?
"'Cause it's the new mother nature taking over
It's the new splendid lady come to call"
That NOK chart looks awesome man.
ReplyDeleteThe outperformance by NOK over this pullback is simply amazing. This is the one stock any of you guys that are a bit more risk averse than I am should look at. I think going all in on this one will work out quite well.
DeleteI still hold a small amount of this in one account and wish I held more...
DeleteOT tweeted about NOK and a few others a couple of hours ago.
DeleteIf emerging markets are going to hell in a hand basket, why the eff is the baltic dry index shooting up?
ReplyDeletehttp://www.bloomberg.com/quote/BDIY:IND/chart
it's getting close to breaking out above the highest level it has been at in the past 18 months...
I think the dry bulk shippers are still in play.
Good God. Is NES really going for a 2.71 gap fill?
ReplyDeleteVELT!
ReplyDeleteMM?
DeleteI was trading a Cara top pick LEXVF around a buck. It's .08 now.
ReplyDeleteCara's short made a ton, eh?
DeleteX+3B's top picks in 2008ish...
ReplyDeleteHEK
FTWR
RGBO
At least HEK, now NES is still trading.
An old fart friend of mine bought AIG, and GM prior to BK.... Not sure how much of a bath he took on GM but he bought AIG near the low.
DeletePCAR did fairly well though.
DeleteSame thing with KGC.
ReplyDeleteCLNE. Yep, still 12.
ReplyDeleteLook at a 6 year chart of FAZ.
ReplyDeleteTZA was like 5,600 back in the day bro.
ReplyDeleteBB - I think you followed COWN at one point. You still follow that one? What's the story? Chart looks fantastic. Breaking out of a 2 year base with a back test to prior highs.
ReplyDelete