Thursday, February 11, 2010

Kaboom!!!!!!!! Or maybe Kapow!!!!

CMI 54.86 +2.88 Kaboom!! And up from 45!
DE 52.32 +2.27
FCX 74.17 +3.14
BUCY 56.90 +3.11 Kaboom!!!
CAT 56.15 +3 Kaboom!
X 47.01 +2.64 Kaboom!!

All advertised, all ramping! Kaboom!!!

Now didn't we hear last week that the puking up of these stocks meant the economy was rolling over? Then, what does this ramping mean?? Hah!!! Kaboom!!!

Just more bad bets, laid out by the shortsellers, who tried to convince the world that the PIIGS would lead us to hell, when it was just these charlatans trying to make stock prices tell a story that wasn't happening!


Which leads me to remind you, that the PIIGS were just Wall Street's version of hog hunting.

Remember that giant pig that was shot by an eleven year old?

The huge hog that became known as "Monster Pig" after being killed by an 11-year-old boy had another name: Fred.

Far from wild, the 450 kilogram pig had been raised on an Alabama farm and was sold to the Lost Creek Plantation just four days before it was shot there in a 60 hectare fenced area, the animal's former owner said.

Phil Blissitt told The Anniston Star newspaper in a story on Friday that he bought the six-week-old pig in 2004 as a Christmas gift for his wife, Rhonda, and that they sold it after deciding to get rid of all their pigs.

"I just wanted the truth to be told. That wasn't a wild pig," Rhonda Blissitt said.

Jamison Stone shot the huge hog during what he and his father described as a three-hour chase. They said it was 2.7 metres long.

"We were told that it was a feral hog," Mike Stone told the Star, "and we hunted it on the pretense that it was a feral hog."

Stone said he and his son met Blissitt on Friday.

Blissitt said the pig had become a nuisance and that visitors were often frightened by it, Stone said.

"He was nice enough to tell my son that the pig was too big and needed killing,'' Stone said. "He shook Jamison's hand and said he did not kill the family pet.''

The Blissitts said they did not know the hog was Fred until they were contacted by a game warden for the Alabama Department of Wildlife and Freshwater Fisheries. The agency determined that no laws were violated in the hunt.

It was farm raised!

Just like the Wall Street version!!!


(If your interested on Wall Street spin on how the PIIGS would blow up the earth, here's a good read!)

If PIIGS Could Fly (The Absolute Return Letter)                                                                   


Anonymous said...

Do you think the financials have much potential?

Palmoni said...

Yes--I think they're getting set up to run.

They've gotten everyone discouraged, but they look ready to me

Anonymous said...

any touts for financials?

Palmoni said...

I like PNC it has flatlined the past week, is under the secondary print by 3 dollars, and if that hasn't discouraged buyers, nothing will.

Getting close to move here

I also like the March 15 calls on BAC they are only .52, and its a good bet that BAC is pinned at 15 on expiration next week which means it should trade to at least 15.25 before it settles back--which means you should be able to make 50% on that option on just that little move

Anonymous said...

great story

always appreciate your work and the way you annoy the bears!

palmoni said...

Almost all my friends are bears!! But they play the long side but never believe it. So they panic quickly, and then they tell me I'm nuts as they wait for the next collapse.

And then we have days like today, and they cover all their shorts--they'll sit in cash until Tuesday, and then they'll take another look.

Just sayin--- there isn't a whole lot of conviction out there

and with the investor polls so so bearish,we can really rally!!