Morning Audibles

The minis traded all the way down to support overnight and are in the process of getting kick saved by the Benny money printing machine... (e-mini chart courtesy Daneric)...


I've got to be out most of the morning, so I apologize I can't entertain you today with stories about tractor pulls, NASCAR, & whittlin' (all tied into capital markets - of course)...

So I'll just offer you up a plate of SPAM and be done with you...You all know what SPAM is right? If not, you will soon... It's what grandma will serve you up AFTER she's run out of catfood... Good Luck trading!



224 comments:

«Oldest   ‹Older   1 – 200 of 224   Newer›   Newest»
BinT said...

I may have to get a little more paranoid today, CV...where is Mish's blog?

McFearless said...

interesting session in the futures....JG says to hold some cash buuuuuuut

let me be the first to do it

today is a POMO!!!!! POMO! POMO! POMO! POMO! POMO!

my mouth is watering, I can't stay seated, all my fingers have turned into fat thumbs so I keep "hitting B instead of M".....I've turned into a pomosapien.

Also, letting Lehman fail was def. the biggest mistake of the crisis (yes, this is super snark)

cv said...

@Bruce

Mish was tired of all the SPAMMING...

As you can see, I love SPAM... I serve it up every day... (see video)

You're free to order what you'd like off the menu...

I'm going with the SPAM, EGGS, SPAM, SPAM, SPAM, SPAM, BAKED BEANS, SPAM, SPAM, & SPAM...

cv said...

@McF

Waddell & Reed... sob's!

McFearless said...

was a little early on the FXP trade but I should be able to exit today with small profit.

Bruce in Tennessee said...

http://www.irishtimes.com/newspaper/frontpage/2010/1112/1224283151994.html

Merkel refuses to back down over debt burden

karen said...

morning!! CV, you better not leave this morning! Bruce, paranoid? and Ben, you two are hilarious.. we're all pomosapiens, now..

tradefast

drop in shanghai last night = 5.2%, equivalent to about 600 dow points - attributable to CPI +4.4%, biggest rise in 2 years

karen said...

DailyFXTeam

Fed's Tarullo says that banks seeking to increase dividends must undergo a stress test showing they have sufficient capital for 2 years

karen said...

Central banks huge buyers below 1.3600 overnight
Written by Jamie Coleman
November 12, 2010 at 14:11 GMT
Traders report that Asian central banks were very aggressive buyer of EUR/USD below the 1.3600 level. That seems to have caught the market short and we are now dealing with the nasty aftermath. The bounce has given traders still saddled with longs a chance to get out of those longs at less-horrendous levels. Expect the 1.3765 level to be a spot where some of those longs are let-go. More sellers are expected above 1.3800, traders say.

Bruce in Tennessee said...

Karen,

About to pile us all into the gas guzzler (yes, I have one of those too) and spend the day away from everyone.

The Grantham video...one point I would like to see fleshed out..he opined that the US has lost more money with ZIRP because of the lack of money made and spent by those who realistically cannot take chances with their money, eg retirement, than has been "stimulated" by Ben B into riskier investments...

Have you seen any real figures about this?

Will read the comments when I get in tonight...

karen said...

Bruce, glad you are feeling well and wishing you all a fun day! ZIRP has definitely and infinitely extended the laws of unintended consequences beyond any calculation I suspect.. but the bottom line.. it was and is BAD.

karen said...

crazy to see dollar down, and gold down and crude down, and copper down. tho those commodities are all still in bubble land.. just odd they aren't moving tick for tick : )

Anonymous said...

M I S H

I-Man said...

Morning Steen:

"How ironic it is that we overcome suffering by embracing and facing it, ferreting it out and repeating it so often that its voice is stilled! It is as if our worst fears and memories are crying out, “Smother me or suffer”: immerse yourself in me, rework me, or be dominated by me. The markets pose us with obstacles—and even suffering—on a regular basis. In their complexity and uncertainty, they offer unparalleled challenges to our ordered minds. Facing those challenges, we face ourselves, and become ever more the total individual, the true discoverer of the philosopher’s stone. Mercy grants us limits in correlating the contents of our minds; providence provides for the possibility of achieving ever-greater correlation."

http://www.trade2win.com/section/articles/966-dead-but-dreaming/p/1?group=methodologies&topic=psychology

karen said...

I-Man, I had something important to say but you've made me forget it with that excerpt... oh yeah, IQI lower than yesterday..

karen said...

http://www.zerohedge.com/article/rosenberg-presents-latest-and-greatest-wall-worry

karen said...

@ReformedBroker: Yes I did just invent "POMOsexuals". You're welcome, financial blogosphere.

karen said...

http://baselinescenario.com/2010/11/12/vikram-pandit-has-no-clothes/

karen said...

MW: http://www.cnbc.com/id/15840232?video=1640921125&play=1

"Political gridlock could put our economy in a very bad state, Meredith Whitney, CEO of the Meredith Whitney Advisory Group, tells CNBC's Maria Bartiromo. She also says she's a seller of regional banks."

McFearless said...

watching John E go from PPT to HFT to POMO obsession this year has been a good show.

cv said...

We don't want any POMOphobics around...

Rule #1 in capital market blogmanship...

NO POMOphobia... None!

cv said...

Well karen...

finally took out Wednesdays lows...

Katherine?

karen said...

ben.. you really know how to summarize!

McFearless said...

ahab,

you need to win this week in fantasy

karen said...

no pomo i guess... fed cancels coupon purchase..

McFearless said...

I think we can go a little deeper, I'd think the lack of relative strength from the Naz doesn't inspire much confidence in traders so 1160-1170 before it's over? sideways to down into expy, and theeeeen......

cv said...

Somebody must have gotten my memos about catfood & spam...

Turducken back on the menu for Thanksgiving folks!

Anonymous said...

and theeeeeeen...

which gap gets filled first?

karen said...

wow.. we broke the 13 ema.. only for one day! buy the dip!!

cv said...

@McF @karen

Earlier you both made comments about CPI China & FXP...

I pulled this comment off another blog...

I have not researched it in the least, but it was one of those little sound bytes that caught my attention and I thought I'd have a peek at & perhaps stick into the ol pocket for future reference...

COMMENT

"Shanghai was down because PetroChina and Sinopec were up nearly 10%, which triggered the sell-off. If you invest in the Chinese A share market, you need to keep an eye on PetroChina and Sinopec. Every time these two are up sharply, it means a massive sell-off is imminent"

I-Man said...

Yeah, dont be surprised if they hit the reverse button on this move...

There is one more wiggle higher above the last swing high today that needs to be tagged.

As long as we hold the 61.8 support fib on YM at 11150, there is upside risk.

cv said...

@Anon (10:55)

Neither gap will get filled... EVER...

Gaps on charts don't get filled... EVER...

karen says so :-)...

karen said...

BreakingNews

U.S. Postal Service reports $8.5 billion loss for 2010 http://on.msnbc.com/cnyukM

cv said...

@I-Man (10:58)

Awww you're spoiling the fun...

I was hoping for a megasaurus down day to make an engulfing WEEKLY candle on $SPX...

cv said...

@karen (11:00)

Chalk it up to better drugs...

When the USPS workers used to "go postal" they'd kill all each other off, which reduced legacy costs...

Now they're all being kept alive on better grades of lithium...

karen said...

we still are above QE2 announcement on spx..

McFearless said...

CV,

all I know for sure about China is I have neither the tools nor the resources to short that market properly.

karen said...

cv.. spx on 60 min candles over 2 months.. three peaks and a domed top..

karen said...

c and bac.. let them tank..

cv said...

@karen (11:07)

.

cv said...

Look... copper is down!

I should go out and buy some... Oh no wait, I don't have to wait for pullbacks because if I exchange dollars and loose change for nickel rolls, I pay the same price all the time...

Sweet!

karen said...

excellent taleb: http://www.youtube.com/watch?v=mhSRaehWSvY

I-Man said...

Ugh... looks like we might triangle out down here like yesterday, for about another 30 min...

Guess its time to tie up some leaders...

cv said...

@I-Man

POMO was delayed... New "end time" supposedly in about 10 minutes...

See if you can stand on your head that long...

karen said...

http://www.ritholtz.com/blog/2010/11/whats-driving-the-art-market-easy-money/

karen said...

TSLA still up.. ufb.

cv said...

it's all that "intrinsic" value

cv said...

Somebody ought to come up with an "Edison Motorss" & go head to head with TSLA...

Just to piss 'em off...

cv said...

Can you all see that I don't take financial markets too seriously?

Nor "blogging", for that matter...

McFearless said...

In John E's rush to fade the faders he is today talking about QE3 (yes, 3) in response to yesterday's muni carnage, some John E's cousin Jeb E is wondering if muni's are down on "inflation expectations"

lmfao

72bat said...

ben -
check ur gmail

CV said...

I kind of like the look of this here...

new chart in thread

karen said...

http://www.housingwire.com/2010/11/12/higher-capital-requirements-needed-on-abs-federal-reserve-governor-says-2

karen said...

Danny! http://mrtopstep.com/2010/09/08/mr-topstep-back-outta-africa/

McFearless said...

got it.

karen said...

what's up with the dollar! d*mn that dollar..

McFearless said...

this was my fav top step of all time:

http://mrtopstep.com/2010/11/05/bears-need-not-apply/

For all you people at home that know it all, tell me how much you know...KMA alright!

Tim is the man!

McFearless said...

dollar hasn't taken out Wed's lows though

CV said...

@karen

what was that video sept 8th?

karen said...

my video was from sept 8.. whatever..

ben, you are right.. that was a good one (Nov 5)

CV said...

@karen

here's your link... (11:35)

http://mrtopstep.com/2010/09/08/mr-topstep-back-outta-africa/

um... sept 8th

karen said...

CV, silly.. you can see them all right here:

http://mrtopstep.com/category/video/

i posted mine because it was a fresh tweet from topstep.. i thot it was a new video..

karen said...

http://www.housingwire.com/2010/11/12/freddie-mac-says-foreclosure-problems-may-drain-recovery

karen said...

Freddie Mac, itself reported $120.1 billion in nonperforming assets in the third quarter, up 33% from a year ago, and more than $6 billion in REO that needs to be sold.

Even with the Federal Reserve's plan to purchase $600 billion in Treasury securities through quantitative easing, Freddie still expects "sub-par" growth in GDP over the near term with a slow acceleration through 2011.

karen said...

mrtopstep

old, September 8th video was a test disregard if you like.

karen said...

did anyone watch the taleb video.. i keep shutting it off by accident and then watch it over from the start, happily! it's too good.

taleb: when i hear greenspan, i shut down..

karen said...

flash crash in aapl or bad tick!!?? for crying out loud..

ForexLive

New blog post: Greek deficit back on the radar http://www.forexlive.com/145837/all/greek-deficit-back-on-the-radar

McFearless said...

not yet, I saved the link Karen.

I like Taleb, but he can't trade at all.

karen said...

but he is saying EVERYTHING needs to be said on bloomberg.. and loudly!

you will love it : )

I-Man said...

Well, that was rather unexpected...

karen said...

his analogies are fantastic!!

someone answer me about aapl!!

I-Man said...

Just looks like late longs getting a little comeuppance.

McFearless said...

going to see Wicked in the big city this wkd....should be a good time, the woman that plays elphaba has an amazing voice.

karen said...

oh, i want to see wicked.. darn.. too bad you can't meet up with LB.

McFearless said...

I know, he's out of town.

mcHAPPY said...

The unfortunate part is despite weakness the last two days, we're still in that upward trend - for now.

karen said...

CV, i just remembered your chart above.. damn those AHs.. too confusing.. i'm seeing 119.75 - 120 as support

could we please just plunge thru that..

McFearless said...

it's pretty wild out there right now, silver is getting rocked right now

karen said...

i should use a pic of him as my avatar, lol.. i know where to find them on the internet..

CV said...

@karen

the taleb video was from September 8th...

jk ;-)

karen said...

or i could just post my blurry panty foto since he's not around : )

karen said...

sighing, if only the euro would sell off! oh, good.. uup back at day highs but 20.60 is so pathetic!!!

McFearless said...

mens hearts are beating fast around the world Karen. you're going to have lurkers, lol.

McFearless said...

so whats the schoop on Mish, he didn't really shut his blog down did he?

karen said...

http://globaleconomicanalysis.blogspot.com/

CV said...

@karen

You have to really train your mind to "see" the AH chart and at the same time, imagine what it would look like with out the AH waves...

Sounds weird, but I can do that... Nobody ought to be condemmed to spend many minutes inside CV's dome...

McFearless said...

ha, nevermind, didn't realize it was back up.

karen said...

David Bonderman, co-founder of private equity firm TPG Capital and long regarded by other buy-out experts as one of the savviest investors in the sector, has warned of an emerging markets “crisis of expectation”.

“There will be dislocations. Emerging markets are volatile,” Mr. Bonderman said at a conference in Hong Kong. “At some point there will be despair just as there is euphoria now.”

http://www.marksmarketanalysis.com/2010/11/tpg-bonderman-warns-on-emerging-markets.html

McFearless said...

I wonder if the Spanish PM's plans are still working "to the letter"

I'm skeptical

karen said...

CV, @ 12:13, I get ya : )

I-Man said...

Wow, this is getting a lot weaker than I thought it would...

Hmm...

I'm so conditioned to expect the shakeout/fakeout...

CV said...

It's such a relief to see silver get whacked by this (and other commodities as well)...

Despite what I have (in stocks and supplies)... I was really starting to get worried there for a moment...

Even with all my rantings, I still feel WOEFULLY unprepared for what's coming in the next decade in prices...

karen said...

interesting: http://www.zerohedge.com/article/abandon-apple-ship-ken-heebner-dumps-almost-entire-apple-stake

Anonymish said...

Many people noticed my blog was down this AM.

I do not know what happened until I talk with Google. I picked a bad day to sleep in. I suspect someone tried to hack my blog. It happened once before.

Mish

CV said...

Thanks LB :-)

But you can still sleep in in you want...

karen said...

is it too much to ask for a close below the 20ema on a friday?! 1195.. please.. wish we'd just go straight for 1170.. forget 1185 : )

karen said...

that is honestly not LB.. he can't post from his laptop..

CV said...

@karen (12:22)

That's interesting...

If I was forced to pick a "norma-bull" that I liked... It would probably be Heebner...

CV said...

@karen (12:24)

"wish we'd just go straight for 1170.. forget 1185 : )"

I kno right?

karen said...

i was with my electrician and no one has commented in all this time? i have 60 tweets to read, lol.

CV said...

I was busy eating the rest of my spam...

karen said...

i want to stay below 1197.. got that?!

karen said...

mrtopstep

New Video: Risk Off http://mrtopstep.com/?p=1206 $$

karen said...

http://dealbook.nytimes.com/2010/11/12/tudor-jones-questions-feds-bond-buying/?src=twt&twt=nytimesdealbook

karen said...

“But what they fail to see, or neglect to acknowledge, is that in modern times there has never been free trade with China,” he writes. “The U.S. has already been in a trade war for nearly two decades; and it is the only time in this nation’s history it surrendered without ever firing a shot. The United States lost six million jobs, indebted itself to China by $1.4 trillion, and received in return a host of consumer goods, many of which now reside in landfills across the country.”

karen said...

zerohedge

There are 1933 institutions that own at least one share of AAPL stock, 402 that own over 100,000 shares

Anonymystery said...

karen said...
i was with my electrician and no one has commented in all this time? i have 60 tweets to read, lol.

Because everyone was wondering what you were doing with your electrician?

karen said...

bespokeinvest

So far more than two-thirds of people who answered wouldn't buy the $GM IPO. http://bit.ly/cHjbcd $$
12 minutes ago via TweetDeck

Jennifer said...

What are the GM bondholders getting in the IPO? Anyone know? I love my kids...but slightly less so when they are sick. Oh -- fwiw, I googled it already and couldn't get a satisfactory answer.

karen said...

Anonymystery, we were talking about gold and silver! what else!

Andy T said...

Chet (and friends):

I'm heading out of town this weekend to do some camping with family and friends. So, won't be able to post on Sunday night.

Pretty interesting day so far...

karen said...

Well, have fun Andy.. but darn it : (

McFearless said...

certainly there could be a bounce higher now as so many were looking for 1190's but I would think we are still going lower, charts look like anyway, 1160-1170 range.

karen said...

i dare ya to find a difference between fxa and spx on 60 min, ten day chart.. cept maybe fxa leads..

Anonymystery said...

@K

OK, as long as he got his silver fix and you got your gold fix.

;)

McFearless said...

I only accept double dog dares.

I-Man said...

Double dare, Mark.

I-Man said...

Nah...

Physical Challenge!

McFearless said...

And, don't be fooled people, andy is running away from the Bo Jacksons! he can't be around to watch it...

karen said...

Andy, do you smoke cigarettes in real life?

I-Man said...

McF, how did you like your ride on the Roddy White rollercoaster express last night?

I imagine you were cursing him and praising him in the same 5min period...

McFearless said...

I-man,

yeah, was a little worried early on but he's a beast, Atlanta really looked good last night, good game plan.

karen said...

ChartLines

There was an idea about solar activity depressing mkt today, don't know if it'll allow much bounce, will see.

I-Man said...

I couldnt believe those two drops, but he swung right back.

McFearless said...

those were black swans those drops

I-Man said...

So many good WR's in the NFL today...

Randy Moss, TO, Brandon Marshall, Larry Fitzgerald, Roddy White, Andre Johnson...

Even guys like Hakeem Nicks, Greg Jennings, Anquan Boldin are top shelf also.

This may end up being the Golden Age of NFL wideouts...

I-Man said...

CV should pipe up on this, but why dont the Ravens throw to Stallworth or Heap in the slot/ middle of the field more when D's gang up on Boldin and Mason?

McFearless said...

don't forget my boy Stevie Johnson up in Buffalo

I-Man said...

Yeah, theres a younger crop I didnt even get to that has alot of talent.

Guys like Crabtree, Sims-Walker, Massaquoi...

karen said...

Jeffery Cooper, "To a blind man, the sound of violins on the Titanic was probably a sign that a party was just getting started."

I-Man said...

Hard to see the league go into decline with the quality of talent of the younger players.

I mean, werent folks hyping the end of the NFL back in 83 when all those QBs came out together?

karen said...

check spy on the 60.. we are in the critical space 119.75-120 i mentioned earlier..

karen said...

how can you talk sports at a time like this??????!!!!

McFearless said...

life's a big game Karen.

McFearless said...

plus, dudes can talk sports at all moments

I-Man said...

Easy, I'm waiting for a retracement to sell from.

:)

Gotta do something to stay away from chasing trades I have no business in making.

I-Man said...

Which brings up an interest point...

I am amazed by how much downtime is involved in being a profitable daytrader.

If I am trading well, most of the time I aint doing shit but waiting.

Which actually takes more energy than overtrading.

An interesting conundrum.

Kind of like how the best drummers know how to play the "rests".

karen said...

LOL.. i forgot to mention.. my electrician also told me his wife bot him an ipad!! gold, silver and aapl what else is there : )

karen said...

ReformedBroker

BREAKING: $GM IPO To be distributed Willy Wonka-style. Check under your Chevy floormats for your allocation...

Mel said...

@ I-Man

After you learn how to play the notes...you gotta learn how to play the spaces:-)

I-Man said...

@ Mel

Bonzo was the best at that, imo...

I-Man said...

For example:

http://www.youtube.com/watch?v=MnZoL-uddG0

CV said...

@I-Man

Heap gets thrown to in the middle all the time...

Got a damn concussion out of it just the other week...

Stallworth has been out all year... He just came back this week (and isn't going to get his number called all thast much)...

You take what the D is giving you... Atlanta has weak corners, so the action's going to be there... Plus - Flacco has a strong arm and can make sideline throws... Most QB's have "noodle arms" so they play dink and dunk with their backs, and send their TE's & slot receivers into the middle to get their heads taken off...

CV said...

This little bear flag is kind of dull isn't it?

McFearless said...

Mel,

what's your opinion of DMB's drummer, Carter Beauford?

I used to have the drumming under the table video of his but lost it at college

karen said...

looks like a good one.. http://www.zerohedge.com/article/icecap-asset-management-money-printers

Andy T said...

Chet,

you see my note on the board? Will be out this weekend.

I-Man said...

Ben, check out this Joe Drums guy sometime. Some good vid's.

http://www.youtube.com/watch?v=2y3j_HDWLAk&feature=related

McFearless said...

I-man,

two rock bands I can think of that have drummers that don't over-play or do a fill every few bars:

ACDC
Aerosmith

CV said...

@Andy

Got it... no sweat... Happy Camping!

I-Man said...

How come when I WANT some idiot dip buyers to come in and lift the tape a little they are nowhere to be found, but when I happen to be in a nice short, they are everywhere?

McFearless said...

http://news.yahoo.com/s/yblog_upshot/20101112/bs_yblog_upshot/chinese-workers-build-15-story-hotel-in-just-six-days

here's a question, could one even get the appropriate permits in 15 days to build a building here?

I-Man said...

I wouldnt want to be staying in that hotel, LOL...

I-Man said...

I'd rather sleep in a shanty in bangalore.

McFearless said...

Rumors of Tudor Jones blowing out of all commodity positions. Just a rumor so far.

karen said...

ben, i saw that on twitter but was afraid to post it ; )

CV said...

Ritzy has a kinda cool graphic on his blog at the moment:

http://www.ritholtz.com/blog/2010/11/the-new-economic-cycle/

Unfortunately - he has nimrods who make comments...

DeDude Says:

November 12th, 2010 at 11:11am

“How does the Palin “New Deal” sound to everybody?”

Yeah baby – a gun and a moose to everybody.

OR


November 12th, 2010 at 1:44 pm

I believe crisis & government response arbitrage is the new economy and market cycle.


---

Gee really?... Well let me just tell you what "CV" believes...

I believe the sun rises in the east and sets in the west... I kno, I know... I'm being controversial here... Just let it take time to sink in, and the concept will come to you...

(rolls eyes)

McFearless said...

Karen,

I wore my No Fear shirt to work today.

CV said...

I'm going to guess, JUST GUESS, that "Shock Trauma" wards in hospitals operate in the same manner...

Remember... that was just a guess... So don't challenge me on it, or you might hurt my feelings...

McFearless said...

may as well change the web addy to Barry's to

the Ritholzington Post, it's a political blog now.

tell me, anyone, the last time you got much market insight there.

CV said...

@McF

Gotta get you a "Fear the Turtle" shirt...

McFearless said...

Karen,

thing about that tweet, doesn't at all line up with the Tudor letter that just came out, where he described a 1999 like scenario and only suggested 10 year notes as the safety in one's portfolio.

CV said...

@McF

I've actually lightened up on bagging on Ritzy lately...

Why?

Because the comments are 10x worse than any political lean that Ritzy makes himself...

CV said...

I concur that we should all concur, the concurrence of everything concurrable...

Except for certain moments where we ought to simply reflect, and ponder a deeper level on concurrence...

I'd concur with that notion as well...

CV said...

@karen

Has topstep said anything lately about 1206?

karen said...

RMBrenna

Someone just sold 10K $SLV Nov 23 calls @ 2.51, 89 delta vs 25.40

Ben, are you following anyone i'm posting here? are you following Nic?

Mel said...

@
Ben

Of course he's good...but these days there are hundreds...just comes down to personal taste and preference. I'm a "less is more", deep grooves, no flash type with a tasty fill now and again. Jeff Porcaro (RIP Jeff) was my good friend and musical mentor...and he's played with everybody...which better explains where I'm coming from.

karen said...

CV.. i can't remember.. i'll replay the last one..

McFearless said...

CV,

in the words of the man himself

I calls em like I sees em

McFearless said...

Mel,
I hear you, makes sense.

McFearless said...

Karen,
nah, I've never done the twitter thing, remember, I don't have a smart phone.

my biz partner sent me that PTJ thing in e-mail.

I'm signed up for CV's prep course on making it in the wild, he's teaching me how to rig up paper cups and string.

CV said...

@karen

I think you had a post up that I remember seeing 1206 in it...

It also looks like a reverse H&S target at the moment as well...

I'll look too

AmenRa said...

What I miss?

I see the market is trying to hold onto 1200 for dear life. TNX closed over 2.75% (ha ha take that BB).

CV said...

@McF

It's "coffee cans" & string bitchez!

I'll let you know when I'm gonna do my IPO on that industry...

72bat said...

re anonymish comment: the real deal.
just received email from mish, "bad day to sleep in."

McFearless said...

C,

yeah, you do that and I'll fill you in on my new venture

GIB Marketing, LLC.

CV said...

@Amen

it looks like they're using POMO money to short commodities (maybe until Thanksgiving so that granny won't have to eat catfood)...

CV said...

@72bat

"looks like I picked the wrong day to quit sniffing glue"

AmenRa said...

CV

I see someone is melting down gold. Must be trying to force out some longs who wouldn't budge.

CV said...

margin calls bitchez!

72bat said...

lookin' to be balmy and sunny here the next couple-a days. hmmmm... should i plan on wearing my shorts over the weekend?

McFearless said...

was 70 down here yesterday, awesome day today too, colors out there are about as good as it gets.

you know who's selling, it's not PTJ...it's Tony Robbins!

CV said...

@Amen

I know I joke all the time, but there was an air of truth to what I said there (3:18)...

I have NO IDEA if it's the case or not... But when I look at the entire space... Bucky included... Euro included...

The concept might hold water... (or not)

Hell - Maybe QE2, now, is just about putting an air brake on another rounds of European soverign defaults...

karen said...

spx on the 30 min.. check that last candle 3 min to go on it.

CV said...

"you know who's selling, it's not PTJ...it's Tony Robbins!"

Mr. T

http://4.bp.blogspot.com/_t_xlGGymR7U/SxSD2YeYeRI/AAAAAAAAAAg/Oow4bV8JFS0/s1600/151293521_95589177e6.jpg

CV said...

@McF

Did you catch that comment I made in the SMACK TALK in your match-up page in FF last night?

:-)

karen said...

http://www.reuters.com/article/idUSTRE6AB43H20101112

(Reuters) - Investors have put in orders for $60 billion of common stock in General Motors Co's initial public offering as of Friday, six times the amount being offered, three people familiar with the matter said.

Investor demand for GM's common shares is still rising, the sources said. GM filed with U.S. regulators for the sale of only about $10 billion worth of common stock.

There is also "excess demand" for the $3 billion worth of preferred shares GM plans to sell, the sources said.

The robust demand suggests that GM's IPO will likely price around the top end of the $26 to $29 per share range and that the full overallotment option -- additional shares underwriters can sell to help stabilize the stock after it begins trading -- will be exercised, the sources said.

The full overallotment could take the total IPO amount to as much as $15.65 billion including both common and preferred shares, making it the second-biggest U.S. IPO ever, after Visa Inc.

CV said...

@karen

I wonder what the "lock up" is on that...

karen said...

typical lockup for insiders is 6 months.. GM is special tho.. they'll rally the entire market for its debut..

karen said...

check aapl candle.. nothing bullish there.. at least that tail isn't bullish..

CV said...

"GM is special tho.. they'll rally the entire market for its debut..."

Amazing to think anyone is even saying that...

- weren't they recently in the DOW
- then a penny stock
- now a "debut"?

and what has changed?

- assembly lines?
- plants?
- jobs?
- models?
- sales?


This is a screwy world we live in...

McFearless said...

I gotta go back and read it, hadn't noticed there were comments in there until last night.

Bo Jacksons...bitchez

CV said...

Why do I get this feeling that the "minis" will trade all the way down to 1170 over the weekend... But By Monday morning, Brian Sack will have bought everything back to where it is now...

They'll call it a technical "correction" (just to say it for the chartists)... and move on...

karen said...

i just want to say that the mtg interest tax deduction encouraged people to take on too much debt:

http://www.housingwire.com/2010/11/12/proposal-to-limit-or-eliminate-home-tax-deduction-unpopular-could-raise-billions

karen said...

an upside down world!!!

CV said...

@McF

You don't need to read it... CV just jumped into all the smack going back between you and Andy...

I commented:

"Nothing to see here... move on"

CV said...

@karen

If Bernanke wants the market to rise so much...

Why don't they institute a TAX DEDUCTION for iPads & gap jeans and crap like that...

Anything to move stocks higher, right?

McFearless said...

yeah, I responded back to the 5-4 thingy....The Bo Jacksons bring the pain.

McFearless said...

wouldn't mind seeing jamrock take out coppie nooners this week.

CV said...

@McF

Watch out...

I quietly picked up Sidney Rice & Vincent Jackson this week...

They ought to be playing by the time the playoffs roll around...

Playoffs?

http://www.youtube.com/watch?v=U7fjDS0jKiE

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