Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, August 13, 2009

Land Shark!!!

do we hear the shark...

15 comments:

Tony said...

Did you get a new pair of moccasins?

Eric said...

Ready to get stopped out on the trade of last resort on this?

Eric said...

This baby is just going to rock back and fourth from one side of the boat to the other...

Tony said...

If *everyone* is going to panic and cover shorts at 14.30, then why would you want to be holding it short then.

The 14.15 print invalidated my abc correction thesis... so what are we calling it now? A bear flag?

Eric said...

I don't know what you are doing...

but I'd look for the trade of last resort there.

where the breakout players go long and the last short covering happens.

Tony said...

Duh... That's what I'm talking about.

Why hold it short from 14.15 to 14.40 or whatever... a better short entry should come in here at a higher price.

What are *you* doing?

Eric said...

how if we play it after the break down..... and by we I'll be looking at Tech and the IYR and materials..

just to fade that cocksucker Upside..

who was all "Strong dollar" yesterday and now all Weak dollar today... fucking punter...

Tony said...

Actually, to be fair, he bought UYM before the close yesterday and held it. he added more this AM. he merely recognized the bullish pattern in UUP, but as far as I know He did not act on that.

Eric said...

bust out the midol...

Eric said...

did you listen to healthcare on cnbc this morning....

I'm about ready to start hitting people...j/k

Eric said...

MCC is talking about having a Rational discussion... from the bitch who can't let anyone finish a sentance

Eric said...

most this debate is such bullshit.

and it's not like we arn't currently creating an economic death panel for the poor.

or institutionalizing poverty through healthcare.

Tony said...

The health care debate has degenerated into a clusterfuck. It's over. I talked to my Congressman Tuesday. He's Fred Upton, a Republican but a decent guy who really means well, but is clueless as to what is going on. We had a nice 30 minute talk.

Obama got waylayed on this one. He was busy saving the country and the private insurance industry was busy busy busy protecting their interests. This is merely one battle in the long 30 year war on socialized health.

I'll blog about this maybe. But any "reform" we get will be bullshit and won't solve the problem. Hillary understood this and would have been ready for this fight. Obama was not and he got rolled.

Eric said...

I've just been on this crank about these moron business models...

IE.. Planned Obsolescence from car companies.

and the same is true for the business models from the insurance companies.

MORON CEO's think they can just outsmart and skrew the public. but the public isn't as dumb as ceo-s think.... either that or the ceo-s arn't as smart as they think.

It's as simple as a restaurant... either they like your food or they don't... don't outsmart yourself feeding people dogfood.

fucking fast money traders are all short.....

obviously it's just a matter of time. but they have plenty of money to throw at congress. This Deather shit just gives them a way to "Pretend" they are clueless and take the money and run.

Democrats too.

Tony said...

I disagree. The CEO's of insurance companies have one task, one thing that occupies their days--- that is keeping the status quo intact.

They really don't do anything else. They collect tax-free premiums and pay out (or deny) claims, keeping their 10 or 15% off the top. It's a sweet deal and they don't want it to go away, so they take a percentage of that profit and pay off Congress and support lobbyists and get the unwashed masses whipped about about death panels.

It works. The rhetoric has been completely manipulated and, yet again, the dumbasses vote against their own self-interests. Fred Upton certainly is not going to go against the massive flow of sentiment, and neither will Democrats.

Bottom line: any chance for reasonable health care reform is over. In fact, most likely we will get huge federal outlays for vouchers for poor people to pay for private insurance. Instead of cutting costs, we'll transfer govt funds to the private insurance companies.

CEO's aren't stupid. This is all working just as they had planned.

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