33 replies to this topic

[ogm]

Looks like we are setting up for a new daily and weekly closing high on RTH.

Wow, the strength in the consumer sector is simply breathtaking the last 4 years.

Tough to be a bear when so many Joe Six's are skimming free cash off the government via EBT cards, diability checks, and all the rest.

4-Year Chart of RTH

The largest, scammiest welfare program in the country is the one Bernanke is running. The corporate welfare. So all that EBT bull crap, you can leave for the discussion at your next circlejerk NRA meeting.

Edited by ogm, 22 March 2013 - 01:49 PM.

[PrintFaster]

Not only are food stamps causing the rally, but the cheapest money in a generation is also fueling this bonanza. Here we are at 1545 and the 10-yr. is still slammed down to 1.91% I guess if we ever get a "real correction" down to 1400, the 10-yr. will collapse to 1.25% and crude oil will crater back down to the lows, setting up another launch pad for the "consumer".... Borderline ridiculous but you have to follow the money and follow the tape to stay alive in this market. Lots of new 52-week highs today.

[SemiBizz]

Looks like we are setting up for a new daily and weekly closing high on RTH.

Wow, the strength in the consumer sector is simply breathtaking the last 4 years.

Tough to be a bear when so many Joe Six's are skimming free cash off the government via EBT cards, diability checks, and all the rest.

4-Year Chart of RTH

The largest, scammiest welfare program in the country is the one Bernanke is running. The corporate welfare. So all that EBT bull crap, you can leave for the discussion at your next circlejerk NRA meeting.

Still got your VXX? Looks like it's gonna come in handy by the close...

[PrintFaster]

Show of force by the PPT. Bears continue to fight the "Wall of Money" coming at them every month. Both Micron and Nike closed at new highs with massive volume, proof that the consumer is still borrowing and spending, no sign of letting up for the next 6 months at least. Even crappy stocks like Newmont Mining are now up 7 consecutive days.

Edited by PrintFaster, 22 March 2013 - 03:13 PM.

[ogm]

Still got your VXX? Looks like it's gonna come in handy by the close...

No got stopped out of that one. Its too dangerous of a position to hold. Just because of what it is. I'll be the first one to short it on any serious spike.

It should've either worked, or I was out.

Edited by ogm, 22 March 2013 - 03:19 PM.

[ogm]

Not only are food stamps causing the rally, but the cheapest money in a generation is also fueling this bonanza.

Here we are at 1545 and the 10-yr. is still slammed down to 1.91%

I guess if we ever get a "real correction" down to 1400, the 10-yr. will collapse to 1.25% and crude oil will crater back down to the lows, setting up another launch pad for the "consumer"....

Borderline ridiculous but you have to follow the money and follow the tape to stay alive in this market.

Lots of new 52-week highs today.

Micron is complete garbage. Shorting opportunity once the short covering is over.

Keep grinding them higher

I'll be throwing darts in the list of companies reporting earnings in April, and raking in doubles and triples on put positions overnight, while watching bulls give up 3 month of gains in a matter of hours.

This is just too easy.

[PrintFaster]

Yes, Micron is complete garbage. Hasn't that company lost money in 3 of the last 4 quarters for the last 10 years? I remember Fleckenstein, Hickey, Lance Lewis, etc. excoriating all the guys who keep dip buying this broken hooker. However, with the massive volume surge today, somebody bigger and a lot smarter than me bought it. I won't argue with the tape. I'm just a lowly, pontificating, economist working at a blue blood school.

[ogm]

Yes, Micron is complete garbage.

Hasn't that company lost money in 3 of the last 4 quarters for the last 10 years?

I remember Fleckenstein, Hickey, Lance Lewis, etc. excoriating all the guys who keep dip buying this broken hooker.

However, with the massive volume surge today, somebody bigger and a lot smarter than me bought it.

I won't argue with the tape.

I'm just a lowly, pontificating, economist working at a blue blood school.

Its a simple short squeeze. Short position gone up significantly ahead of earnings. I looked at it yesterday before they reported the numbers. Saw that the short position has gone up enough to be noticed and published in some article, and passed.

Give it a week or so. You can even see how it traded intraday today. Can be wearing off already.

[PrintFaster]

To sum things up about the bear case, here are some typical posts from "Peteybear" over at Wall Street Bear Chat.

This guy always has classic "one-liners".....

wow mkt just won't die. we've gone down 3 times since sunday night and bounced right back..outside quick shorts just not shortable right now [ NT ]
peteybear - Fri, Mar 22, 2013 - 10:08 AM (Views: 32)

I love wall street. were almost exactly back to last fridays closing prices before cyprus. so the mkt that never fell on cyprus gets a bump on a deal? only wall street can do that [ NT ]peteybear - Fri, Mar 22, 2013 - 11:24 AM (Views: 19)

exactly but what has really amazed me is that 4 yrs later the whole scam is still working as good as day one. usually the effectiveness of things wears off over time but not this [ NT ]peteybear - Fri, Mar 22, 2013 - 11:47 AM (Views: 10)

yet another wasted week for shorts. whats this 16 straight weeks?the only positive is we haven't hit a high in a week or so but the negative is we can't fall and stay down [ NT ]
peteybear - Fri, Mar 22, 2013 - 01:00 PM (Views: 150)

you can't make orange juice out of milk. price wise were no closer to showing a top than 3 ,6,9 or 12 weeks ago. in 5 minutes to could huice the S@p to new closing high if they want. again i said weeks and months ago this could be just another basing to [ NT ]peteybear - Fri, Mar 22, 2013 - 03:41 PM (Views: 29)

bottom line were pinned at the top and every small sell is bought. are we basing to go higher?wow es 5 1/2 from all time highs [ NT ]peteybear - Fri, Mar 22, 2013 - 04:05 PM (Views: 20)

something hasn't been right for months but mkt still rises. its not about being right its just impossible to call a highpeteybear - Fri, Mar 22, 2013 - 04:23 PM (Views: 18)

several people were going wild saying decline had started yesterday and have vanished today
peteybear - Fri, Mar 22, 2013 - 04:21 PM (Views: 12)

we've basically been up 95% of days since new years eve. thats 3 straight months with few down days. just amazing and after a 4 yr bull run with earnings a disaster [ NT ]
peteybear - Fri, Mar 22, 2013 - 04:16 PM (Views: 4)

Edited by PrintFaster, 22 March 2013 - 04:09 PM.

[ogm]

Yeah, that sums up the bear case Bears are frustrated and capitulative. You can sense it in the tone of his posts. On the other hand bulls seem cocky and arrogant. Maybe another spike into the quarter end next week, so they could finally get their cookie and then its easy pickins. Heck, maybe even FB bounces so I could add

Edited by ogm, 22 March 2013 - 04:26 PM.