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Still waiting for the VIX to show me a spark of fear (Bullish engulfing) before I load the shorts. Been blasted too many times at this point to try and pick tops....

 

I still think we hit 950 or so before any real decline starts.

 

Best case scenario for bears, sorry if your already short, is to blastoff on a huge gap up tommorrow or Fri on some silly economic data, rally up to 935,940. Would be a gift.

 

Every time we get close to a line in the sand (Dow 8521), SPX 920, they always blast it through to shake out the weak hands. Why would it be different this time?

 

(standard disclaimer applies....just my .02, dont listen to me Im usually wrong, yada yada...)

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Didja notice-Greasepan somehow looked lighter today-he's obviously lost some weight, someone told me it's for sale on E bay-but I think he will have it mounted over his fireplace-so he can talk to it! I posted last night this rally was TOAST-today for a while it felt like Groundhog day until it crunched at the end. Every rally save one since july 2002 has been 34 Fibo days, and today was you guessed it 34 Fibo days, the $ is in freefall and GOLD is rockin and tomorrow we come down hard. SG doesn't think this is going to be the big one and he might be right but for now 854-860 is the target and we will see where we are when we get there. There is a lot of MONEY to be made here because options are dirt cheap and the premiums will expand HUGELY as this thing falls-so if you are not in and fully loaded buy them now when they are cheap. The p/c ratio tonite is .69 they sucked all the call buyers in today a week from now they will think they've been pulled thru a cheeze grater-Lock n Load-Trade Safe! The icing on the cake now would be for GTN to pop up and say he was long!

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soooooooo.......

 

 

100% of bears think we go down tomorrow.....hmmmmmmm.

 

 

 

I think the same thing happened at the end of november,then bears got blown out the first 3 days of december if I remember correctly.everyone on the board was in agony.I think odds are that we pullback also,but I have an open mind.

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won't be much longer now. the clock ticketh.

 

new moon tomorrow morning before market open. it squares (is in conflict with) neptune & mars (deceipt) and jupiter (expansion). this augurs extremely poorly for the continued effectiveness of the propping, jamming, lying, fleecing, goalpost moving, newscast term substitution, and other species of insider/interventionist horseshit.

 

soon to increase long positions in SPX puts and inverse fund(s), as well as bottled water, canned food, batteries, candles, and camping equipment. har har.

Dont forget ammo!

 

(only half joking)

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Update to my intraday IDS post....

 

Current dollar value (at bid) of May Series in-the-money SPX options ~

 

Calls - $657,319,480.00

Puts - $ 92,269,390.00

 

Closing dollar value (at bid) of May series in-the-money SPX options~

 

Calls - $636,743,020.00

Puts - $ 96,241,970.00

 

Was over 7 times at 2:30pm, now only 6.62 times the dollar value in the money calls. Call me crazy, but I bet that ratio gets smaller in the coming days...unless wall street turns into a charity foundation, of course.

 

 

They were outta the money when I bought them...but they in the money now :P

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The market had every opportunity to prove me wrong today but, couldn't do it. This market is tired. breadth is still a concern however. It could be all those preffered issues and closed end bond fund that are screwing with the A/D line though.

 

The count still stands but, we need to see some impulsiveness on the downside.

 

as MH once typed."I'm so bearish, I could chew the tires off my wife's car". I could feel the mist.

 

Good luck out there.

 

None of this is investment advice. In fact it's nonsense.

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Can anyone here tell me what "intangibles" might be when they are listed on a balance sheet as an asset? Crunching some numbers on CIEN. TIA

MGS,

 

Goodwill, patents, anything that is not physical and has an arbitrary dollar amount attached to it basically.

No, goodwill is a separate issue. The patents make sense. So I can exclude them from any real value.

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Same old stuff.

 

"Must own" stocks which were accumulated this quarter for the month end statement print like BBBY, CFC, COCO, COH were candle jammed into the close.

 

Wild squeezes continue.

 

Lots of junk stocks moving now. Short sellers getting blown out are now trying to "catch up" by chasing the Sycamore (SCMR) Screamer.

 

The dollar and stock divergence widens more.

 

Which one will correct?

 

Al Green mumbling again today. Nobody dares to ask him what is wrong with the financial markets.

 

Pension plans getting a free pass by being able to use corporate bond yield index as a fixed income benchmark as opposed to the 30-year Treasury. Now their deficits won't look so bad. What a joke.

 

In the meantime, heavily Riverboated stocks like MSTR suffer sudden "accidents". But no worries. That gap will be filled like everything else. No unfilled downside gaps in this market. Only spectacularly linear perfect 45 degree boner runs like JPM, C, and COF. So many of these charts are starting to resemble porno magazines.

 

Notice the ascending triangle on the intraday. Almost exactly like the May 22, 2001 top. I remember. Because I covered that day, thinking a breakout was imminent. The next day on the large move down, I realized my mistake.

 

Could be the same.

 

The Arena is gotten totally hysterical. Most Participants are deformed and disfigured from the wild battles perpetrated by The Matrix.

 

Incessant short squeezes, wild gaps, sudden reversals, unexpected failures, and all the rest.

 

The entire "Rest of the World" knows our markets are a sham and are being propped. So they are gaming the movers as long as they can in order to profit from the situation. But as soon as the propping runs out of gas, there might be a spectacular drop, as all the Commodity Robot Programs hit the sell button. Everyone's eye is on the dollar. Everyone's finger poised over the sell button, ready to be the first to unload.

 

The Horror continues....

 

Riverboaters, take over.....

That's the shit, Mark. That's the bomb. Thanks for putting a great big smile on my bloodshot, pale, pasty, haggard, exhausted face.

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Can anyone here tell me what "intangibles" might be when they are listed on a balance sheet as an asset? Crunching some numbers on CIEN. TIA

MGS,

 

Goodwill, patents, anything that is not physical and has an arbitrary dollar amount attached to it basically.

No, goodwill is a separate issue. The patents make sense. So I can exclude them from any real value.

MGS,

 

They are both intangibles, CIEN just breaks goodwill out as a stand alone line item.

 

Looking for the FASB now. Here is something from AIMR...

 

File Reference No. 1019-002 Acquisitions of Certain Financial Institutions

 

 

Goodwill and other intangibles (customer lists, patent rights) have value, they are just nearly impossible to ascertain what that value is. Goodwill is usually only for the difference in purchase price and book value.

 

 

Sorry for the boring accounting talk...bring in the strippers!

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