Wednesday, April 14, 2010

Regret shows her face on Wall Street!!!

How else are we going to get my 1440 meltup target by June?

But before I say that--does anybody notice the ingeniousness of the bankers who trumpet their hires, after they already have fired the people the new hires will replace? But instead of paying double the salary, they get someone else that is hungry, to do it at half the cost, and then they get a tax credit to boot for helping with the economy!!

Now 1252, is in the crosshairs of th ebulls--the pre-Lehman number, which like anything else oin this market, is just another target this is goiong to get stampeded through.

And you bears? Who weren't rigorous with your work? Who touted doom? Who thought that the market gods would allow them to cover their shorts, and in size? Who instead, believed their own siren song of bullsh*T?

I'm sorry my friends, but now the market is going to be as cruel to you, as the market was to the bears. The recovery back from 666 to 1211, was a slow grind, but the move from 666 to 840 was fast. What happens if we get that again?

Or wait--doesn't that, then, get us to 1440? The target trumpeted by only one person on wall Street; and the target trumpeted here on this blog?

It's going to happen, and its going to rip the heart out of the bears.

Who never had one with the bulls.

Payback's a b*tch!

Tuesday, October 20, 2009

Caterpillar screams again

Whoops--did you see that image before? Oh that's right. Back on March 16!

So Caterpillar is now at $61.

What happened to the bears?

And why wasn't Wall Street buying this name?

Apple was advertised on this blog at 80. How about Caterpillar? It was advertised here at 33 just a quarter ago. Ebay at 12 and tech stocks on March 16.

Why wasn't Wall Street involved in these names? How is it now, that they see something?

Because they just saw this?

How is it that after a 66% move in the NASDAQ names, does Wall Street now see something in this 666 bull market?

My next target on the S&P is 1440 by June. Look for it. But it would be nice if the bulls rest a bit first!

Because this bull isn't even pissed yet!

Wait until it looks like this!

Whoops--Did you see that image before? Oh that's right. Back on March 11!

As advertised!!


Anonymous said...

your MGM and LVS are getting stomped.

looks like MGM had a poor report despite the las vegas recovery.

Anonymous said...

is it time to sell MGM?

Anonymous said...

When it comes to the stock market your calls are fantastic. My only question is what are your views on the true state of the american economy? I trade by your wisdom; however, I do not see things improving business-wise in where I live and across the nation. Are we truly coming out of this recession or will we turn down again once the new taxes hit?

Palmoni said...

I sold LVS--I thought it could run to 24, and that the Singapore opening would be a catalyst for it to be sold. It did that. And really, I've been touting this number since $1.77. A pullback of 50 cents after it has gone up 12X, isn't getting stomped.

MGM reflected the reality of the economy versus what Wall Street expects. But with 74 million shares short, it doesn't matter. Las Vegas was still sucky, but Macau did a lot better, and City Center had some non cash charges.

I'm not selling MGM.

In regard to the true state of the American economy--that probably won't be recognized by Wall Street until fall. By then, some of the back up in foreclosures will be ending, and the foreclosure stimulus will be ending, as people pay for shelter. That's a risk, that no one seems to look at, but markets should get extended and pollyannaish, before that is recognized. The possibilty of 18 million living on the street (Wall St hyperbole, but it's still bad) and bankers now not wanting to do modifications, means that the foreclosure noose is tightening.

I think the sanguine approach that Bernanke has is more real, than the rose colored glasses some of the economists on the street are now wearing.

However the stock market doesn't reflect how things are in America--it reflects how things are in the world.

If we get another extension on this rally, and then some weakness is recognized by Wall Street, then we could correct--but we have to do it from higher levels so you can get a panic going.

Here--the only panic is the shorts P&L, and the derivative desks of the brokerage firms who aren't prepared for a rally melt up.

We need the melt up, before we can even talk about a correction.