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flip-flop-fly has been absolutely stone cold for calling market direction, since last year. Is his record in futility going to extend the trend? Hell son, you can pay $40/month for this nonsense and subscribe to the ppt.

Stocks Are For Asshats
April 28, 2009 – 4:10 pm
Wow, days like this remind me why, deep down, I fucking hate the market, as if it was trying to steal my money. Oh shit! I think it is trying to steal my money.

Treasuries got murdered, sending rates through the roof. At the same time, the yen was strong, and the dollar was weak, while crude sold off—as did gold. Banks got boot stomped, but CRE was strong. I don’t know how long it will last, but the market is being directed by the action in CRE names. Look at the correlation between IYR and the Dow, lately. Uncanny.

In all fairness to the bulls, the market should have been “Dykstra’d” today, considering the banks were so weak.

Days like today remind me why it is so important to stick with a thesis and try not to overreact to the intra-day volatility. The market is incredibly volatile, yet within a very tight range. My guess, the market is due to make a decisive move, up or down, shortly.

Obviously, I have a multitude of long positions, so you know my bias. But, admittedly, holding bombs like LVLT remind me, in a very harsh way, how quick yesterday’s winner can become today’s loser. In hindsight, not selling LVLT was a grave error. But, I really did like the numbers posted this morning. Apparently, not too many people agree with me, at the moment. I ate rocks on this fucker today.

My positions in CROX, SONS, CECO and ERX fared okay, while other lost a percent or two.

In short, this market is one great idiot hamsterwheel, full of cocksure investors. In reality, we’re all guessing. The question is: who can guess better?

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