Thursday, March 19, 2009

Seeing It Again

Lots of bears coming out of the wood works among bloggers after today's very much 'expected' pullback. The rally imo, is not quite over yet. I think that we are very close to a major top but i do not think the upside is over yet. We shall see...

7 comments:

mr. squeeze said...

much depends how much squeezin's left to be done in the 4 fatties, yes?

today's volume:

1.24B Cshitifat
556.33M AIG-UR Fat
300M Fat Fanny May I Squeeze It
145M Phat Fernie Mac

i bet turbotimmy's hands are aching from all the wringing today.

Stewie said...

LOL! good ones. i think the greed factor is still much in play here. i could very wrong but for reason this all seems too easy right now. shitty finnies rally 200-400%, you get a reversal and we can short again. naaahh, it's way too easy. i think more up before all is said and done but i do think we are close however. maybe next week sometime.

Cliffynator said...

Look at all the stuff getting thrown out there to boost the market: Ben on 60 Minutes put a date on the recovery, FOMC announcing more money going to be pumped into economy, the Big "O" on TV tonight, finnies touting higher earnings (wonder if that included all their bailout money?), ProShares possibly announcing an early distribution, and other things getting put out there in a way that would pump the market.

It all seems to me that there is a concerted effort among Government and the CEO's to jump-start the markets again. But, the efforts themselves seem desperate behind the fluff, and implies a deep fear of future fallout.
That's because all these "fixes" are quick and short term: Fed money is going to drive up inflation in the long-term.

You can try to jump start an old car or even an old heart. But if the thing is still too shot to work, you're only wasting a bunch of electricity. This whole rally seems artificial, but it sure is REAL MONEY!

mr. squeeze said...

yeah, way too easy.

and the lesson to be learned from the 'way too easy' cshiti preferred-common arb is the WTE is TGTBT, especially when dealing with TFTF.

w/b selling my FAZ for $7.57 net profit tmw A.M.

only 100 more trades to go b4 i can afford your seminar :)

Stewie said...

cliff: i agree 100%. defintely an artificial rally simialr to what we saw last fall when they stopped shorting in financials. created a good enough rally but eventually fundamentals will rule the day.

teflon squeeze said...

agree 200%.
big O talks a mean game fo sho.
but facts are facts are facts are...

instead of talkin shinola with jay, perhaps he should concentrate on hiring those who mean what he says.

otherwise, it's all just talkin shinola...and FAZ is still a no brainer at $25.xx, give or take 2 bux.

Cliffynator said...

I just noticed the volume of FAS to FAZ from yesterday. FAS -20.7% on volume of 358M, while FAZ gained 16% on volume of only 61M. It's obvious the bulls were pulling out, but the bears aren't jumping in yet.

BTW, if you were to swap the open and close prices for FAZ yesterday, the drop would have been only 13%.

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