Monday, June 1, 2009

What happened to the Friday afternoon conspiracy?

Where are those folks? Who said the buying into the close on Friday wasn't "real?"

Hang Seng up 4%.
ASX up 2%.
DAX up 3.25%.
CAC up 2.5%.
China up 3.5%.
Nikkei up 1.5%.
FTSE up 1.65%

Gold up 1%, Copper up 2%, Wheat and Soybeans up almost 2% and Oil up 2.5%.

What else do you expect from the the same folks that said Friday's buying wasn't real? So why are our futures up another 1.5%?

Oh that's right. It was Geithner's visit to China. They bought on that news Friday! That'll be their tautological spin!

They couldn't find the bottom at the beast bottom; they also said it was rolling over at 830, 880, and then Friday's ramp was also another "fake" con job. Every buying opportunity that this market gave you was labeled "fake" by these guys whose spreadsheets and graphs and charts and models they pawn off on the public as "truth."

It looks like their truth is falsehood!

Supposedly, a while back it was the missing quants that would cause the market to crack. Was that truth?

I gave you Wall Street's version of truth " "Subsidize the financials now, and time will cure the problems, and because the circumstances were so exigent, the falsehoods that the plan were done under will prove to be for the greater good" right after this Truth. In retrospect, was that not truth?

But these bears couldn't acknowledge it, because it was couched in philosophical terms, and it was contrary to their position.

And now, it looks like a few more people are joining the "unstoppable" dancer on the hill.

The next stage is the stampede.

But that would just be too simple a concept for these folks to realize.

They feel better paying $2700 to a speaker at Whitney Tilson's confab, because they think the cost of truth can be bought, when all they have to do is watch a dancer on the hill!

See you can throw all these charts and models and graphs and spreadsheets up, but quite frankly, statistical modeling, just doesn't cut it for average Wall Street investors.

They want the quick story and the stock chart.

Look at Zero Hedge-(one of the best blogs for financial information on the web even though it won't make you money, because of their bearish bias)--and their story about Chrysler dealerships being closed--and if there is a bias in the number of closures of the Republican dealers versus the Democratic ones.

They used their statistical modeling, and the blog readers went crazy, because they thought they were doing "Dendreon type data mining." (ie -Wasn't that the story when Provenge was rejected? But wasn't the story behind the curtain far more nefarious by those with the bearish positions, who used their influence to influence the FDA? Because now the story's different!)

ZH's response to the email, "The slew of email I received ranged from "thanks" to "you are the spawn of the devil." The latter is obviously closest to the truth, so we are sending that reader the Marla Singer Stolen Jeans prize."

So give me a quick story, a stock chart, and a stock at 10 that will double in a week.

So I'll give you GOOG, which is ready to break out---just look at the chart, and the July 440 calls at 10. Small business was good, it was just the slowdown in Corporate America--but now that the stock market is coming back, Corporate America will spend--and you get earnings in July and a 40 point bump in the stock-before and after earnings!

And that's Wall Street's version of a bullet point!

Without the "grassy knoll" conspiracy!


Anonymous said...

what is your target for the goog july $440 options?

Palmoni said...

They should go to $40

Anonymous said...

do you have stops set up?

Anonymous said...

of course after i read this it went from $10 to $ it still a buy at 13?

Palmoni said...

That's the problem--once people recognize it, they bid it in a hurry.

You can still get the 450s for 10 though.