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The Best Bears Can Do


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Is a one hour selloff. Then the selling dries up. Then the dip buyers rush in where fools fear to tread.

 

I guess we're the fools. :lol:

 

I'll be traveling again this weekend. See you on Monday. Fully updated Fed Report to be posted later this evening.

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Leading Indicator - The Hot Waitress Index (The hotter the waitresses, the weaker the economy)

 

A Soho restaurateur I know recently received applications from “a couple of classic Eastern European fembots. Once upon a time, these ladies must’ve made $1,500 a night lap dancing. At my place, they’re not going to make that in a week.”

 

He didn’t hire them, though. Not every restaurant craves stripper-level pulchritude in their serving ranks. Many prefer competence.

post-2457-1250283035.jpg

post-2457-1250283042.jpg

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By all measures the market should have already started at least a sizable pullback by now.

 

Short selling going down, insider selling going up, small investor sentiment reaching highs for two weeks straight...

 

"Company executives are selling stock at a rate not seen in two years after a near 50 percent rise in the S&P 500 from a March 9 low. That suggests directors and managers may think stock prices are nearing the top end of their range in the current economic climate.

 

There has been a decline in short interest -- borrowed shares sold but not yet repurchased -- which some anal cysts see as a warning. Some investors sell short to profit from price declines, and some say the recent rally has been supported by the reversing of short positions."

 

http://www.reuters.com/article/ousiv/idUSTRE57D49S20090814

 

:rolleyes:

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I have mercifully reduced following this action day to day, seeing how it does me no good, with all the positions I already have. But after this stunning yet unsurprising (given what we've seen over...and over...and over...and over again) turnaround, I was curious to see how the old neighborhood was holding up. Not unsurprisingly, most everyone is resigned to the idea, yet again, that the stock market will just keep going up. I say NO EFFING WAY. THEY are on the run, not us. Everytime a rally gets going for a few weeks (or in this case, months), we keep hearing how the bottom is in, and even ultra-bears like Schiff talk about how the stock market will only go down in REAL terms now, not nominal. Not too many people, even this most apocolyptic, would have thought in 2006, or even 2007, that we would retest, let alone break, the 2002 bottom. I say we're going to do it again. Will this be the turnaround? Who knows? But there is too much pain, too much anguish out there for the masters of the universe to keep this going. The markets are Wiley Coyote- all it needs to do now is just look down.

 

TBT, USO, and QQQQ put options for Jan '11 is probably what you'll want to do next, IF you, unlike me, have money for new positions. Then just sit back, take a deep breath, and get ready...

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Bank Death March

 

Colonial BancGroup Inc. was closed by regulators and taken over by BB&T Corp. in the biggest U.S. bank failure since Washington Mutual Inc. collapsed last year.

 

Bloomie

 

 

Also, almost an aside, Dwelling House Savings and Loan in Pittsburgh.

 

Full FDIC list.

 

Jeez, whatz a few more billion?

 

Is that a lot?

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"The head of the Federal Deposit Insurance Corp. is arguing against key pillars of the Obama administration's plan to overhaul the financial system, saying they would not survive in Congress and that she has better ideas." http://finance.yahoo.com/news/FDIC-chief-s...set=&ccode=

 

The O-pillars must fall.

 

and Mr. G should be labeled part of the mob.

"Treasury Secretary Tim Geithner angrily demanded regulators get in line, even though the Treasury has no power over agencies like the Fed and FDIC."

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I have mercifully reduced following this action day to day, seeing how it does me no good, with all the positions I already have. But after this stunning yet unsurprising (given what we've seen over...and over...and over...and over again) turnaround, I was curious to see how the old neighborhood was holding up. Not unsurprisingly, most everyone is resigned to the idea, yet again, that the stock market will just keep going up. I say NO EFFING WAY. THEY are on the run, not us. Everytime a rally gets going for a few weeks (or in this case, months), we keep hearing how the bottom is in, and even ultra-bears like Schiff talk about how the stock market will only go down in REAL terms now, not nominal. Not too many people, even this most apocolyptic, would have thought in 2006, or even 2007, that we would retest, let alone break, the 2002 bottom. I say we're going to do it again. Will this be the turnaround? Who knows? But there is too much pain, too much anguish out there for the masters of the universe to keep this going. The markets are Wiley Coyote- all it needs to do now is just look down.

 

TBT, USO, and QQQQ put options for Jan '11 is probably what you'll want to do next, IF you, unlike me, have money for new positions. Then just sit back, take a deep breath, and get ready...

 

 

Sac, good to see you posting. :D

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