Thursday, June 2, 2011

CHOP SUEY

Turn the peeps into chop. Let's grind these "traders" inot the dust. After all they aren't the target of CONfidence DOW number that we are painting for the evening news. So lets stop shop these peeps and run the table on the newbies. There are plenty of newbie traders that have jumped on the "over two year bull market" created out of an illusion of "recovery". According to our economic cycle theory we have another year to go with this illusion. Of course that is giving you cycle theory the benefit of the doubt that it can predict an extension of the greatest economic levitation in history.

I hedge my bets with cash just in case they get a little too wicked here. More importantly I hedge with physical gold and silver but by now you know that drill very well. Today is another day in the chop shop so try and make your trades with caution as usual. The big jobs number is tomorrow so more than likely no major moves today. But I like the trades to make pennies on the gaps.

Turn off the noise and pay attention to your trade. There will be a lot of voices trying to take you out of your trade. I still like the miners here....even in the short term so take that for what its worth. We are in a danger zone as usual but if the game is to continue liquidity then equities still have a trade in them this year. Beaten down sectors like Chinese crap stocks will have their day in the sun this year so stay on your tows...LDK LLEN STP etc.......Be careful though.



PSLV and PHYS are accumulate on weakness and I continue to do so.......its your money so you have to be aware of this game to strip it from you.

The world is disintegrating in front of your eyes and the media is telling you its all just normal everyday business as usual. Well....in a year they are going to be in a landscape from hell at this rate. Keep trading the great casino. Its still open. gl gang

56 comments:

  1. To add to Joe's deflation argument..I'm a great example..150K income 3 years ago. Lucky to see 60K this year...how's that deflation treating ya!

    but as my title says, honesty doesn't always make you rich in dollars, just in the soul...

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  2. AEN- and drop
    SNSS is getting interesting...still holding..

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  3. Sold my Aen. Made out nicely. News was good in my opinion but not enough for a big follow thru.

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  4. Remember some of you cannot post without removing the check in the "keep me signed in box" .....its a google glitch.......

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  5. sell the news cabby.....grats

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  6. FCEL seems undervalued, mmmmmmm!

    http://finance.yahoo.com/news/FuelCell-announces-its-apf-3817461076.html?x=0&.v=1

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  7. Chuck & Kli,

    What do you think of FCEL? Look at the news, and the chart.

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  8. Dave,

    look at FCEL and see whether you like it or not.

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  9. Joe have you picked it up?

    Also keep an eye on USU at these levels.

    If you can get a shot at 3.80 to 3.92 might be good.

    Joe thanks I will put FCEL on my radar.

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  10. Dave,

    Go under historical prices on yahoo for FCEL and look at the prices between October of 2008 and March 2009 and tell me during market crash which is that period where this one was trading at. The news I posted on FCEL came on May 31st and it was at 1.35 then, 52 week low is $1, so what do you think about risk/reward on this one. The company is legit and has been around for quite a while. The only negative I see the number of Outstanding shares. Also look at percentage of institutions on this one which is not bad at all.

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  11. All,

    I like to know what you guys think of FCEL from risk/reward perspective, do your homework and tell me your opinion.

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  12. The news to me might be a game changer.

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  13. gold getting slapped.....hehehhe......I love this game.....top callers piling in again....shake those trees........buy PHYSICAL........hehehhe

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  14. By the way the earning announcement for FCEL is this coming Monday and I am sure CEO will talk about the deal they got and how it impacts the revenue,,etc.

    http://finance.yahoo.com/q/ce?s=FCEL+Company+Events

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  15. Joe,

    the balance sheet is not inspiring...earnings are next monday..might be best to hold until then, they are taking a negative charge...but while digesting this, look at their competitor from Canada..
    http://finance.yahoo.com/q?s=BLDP&reco=1
    their income statement is much nicer....cash flow...no dilution need...

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  16. also they will get 40% of that s.korea deal before oct....

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  17. At the moment I am seeing that FCEL is losing .55 cents a share if this deal brings them to show a profit watch out.

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  18. FCEL ... fuel cell technology, cleaner energy. Promising sector, especially given current tailwinds from oil-volatility, inflation, nuclear power exit in Germany, ...

    Stock got taken down into May 24 (from about $1.80-2.00 in the months prior to $1.35) for no apparent reason. Maybe to shake out weeks hands in anticipation of positive Q2 news on the earnings call next Monday (06/06)

    For a company with $224M market cap, the recent order by POSCO power (total expected volume $129M) is huge news. Not even including potential royalty payments. Note that POSCO is a multi-billion $ company that will make royalty payments for future installations of FCEL's technology ... good stuff

    FCEL's market low in March 09 was about $2 --- higher than where we're now and good news for s stock that used to trade around $8-10 in prior years.

    Significant low put in around $1.10 ... so, I would say 40% downside but potential double or triple upside.

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  19. Very good guys, that's what I like to see, digging in and looking at angles, positive and negative and then risk/reward. Wolfman, you are doing homework. This puppy is not about trying to time it at current levels, it all comes down to whether you feel it's worth buying and averaging down or staying completely away from it due to structural problem.

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  20. looks like the market is gonna crash cough cough.......hehehhee......ooooboy......fear building.....shorts n puts buildin' ....tick tock tick tock

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  21. after looking at a couple other companies in that sector..it looks like everything was taken down...
    look see here at competitor..after dilution...

    http://finance.yahoo.com/echarts?s=PLUGD+Interactive#symbol=PLUGD;range=2y

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  22. Wolfman,

    In addition to what you mentioned there is one little angle for tomorrow as well and this angle might or might not play out and we will find out tomorrow which is due to earning announcement on Monday whether shorts keep covering some tomorrow prior to Monday's earning announcement or not. With this puppy they might not want to get caught with their pants down going into Monday, we shall see.

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  23. Wolfman,

    This market take down is going to make PAL attractive as well, if they take PAL down to 3/3.10, then start nibbling.

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  24. Last take down of PAL was profitable for those who bought at 3.40 and sold over $4. The short accumulation on PAL starting to get attractive which means at some point HELLO SQUEEZE. Watching the tape and liking what I see so far.

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  25. Where is homer, show your face, trying to make PZG cheap for you, heheeeeee!

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  26. The way this market behaves is real SMOOTH, heheeeee!

    http://www.youtube.com/watch?v=MXp413NynFk

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  27. Thanks Joe, I bought PAL at 3.47 a on May 23rd ... served me well. Sold half at 4 yesterday and second half at 3.8 today ... was hoping for a larger pop assuming that $3.5 marked the low but that's not likely given today's commodity take-down ...

    So, $3 it is .... pretty powerfull support all throughout 2010. I'll probably nibble at 3.3 and average down into $2.9 .. if it breaks below that, we could say hi to low 2's in no time

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  28. Joe, why so enamored with PZG and not with the likes of SLW, EXK? Each of them has had a 1000% run since the Nov 2008 lows?

    I bought PZG aroud 2.6 but sold most at 3.3 ... and am not sure yet how persuaded I am on miners in general.

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  29. Phil's "must hold" levels.
    So far, only the NYSE has fallen through. Typically, he would say we need at least 3 of 5 indices to fail before disaster.
    No need for panic.

    Watching EXK--could 9.00 be possible?

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  30. Wolfman,

    I have already taken SLW to woodshed, shorted it at 46 and covered around 34, with PZG I play both side of the coin and have traded it both long and short to the point that I sense the direction in my sleep, also when I get in whether long or short I play heavy and I mean heavy which means PZG due to it's price and volume gives me the amount of shares I like to play with.

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  31. keep in eye on celsion...low float...vol. up..
    promising drugs....CLSN...knocking it back down right now...asco presenter

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  32. Chuck,

    Seems like the share offering by CLSN will be done today which explains why they have kept it below 3:

    http://finance.yahoo.com/news/Celsion-Corporation-Announces-iw-1572278190.html?x=0&.v=1

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  33. Joe,

    I'm in at 2.80 from a cple weeks ago..it would be nice for liver cancer patients to get a break...hopeful for them and might make a little coin...

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  34. Joe,

    ALTH....
    http://finance.yahoo.com/q?s=ALTH

    bottom in?

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  35. chuck,

    If they needed to raise cash thru dilution I would have said bottom is not in BUT it seems that eventhough they had a bad quarter, no need for raising cash due to partnership, so it seems bottom might be in, look for volume in coming days and if stock does not drop more then that means short covering by big boyz at current level, price stabilization and then take off to the upside.

    http://finance.yahoo.com/news/Allos-shares-fall-on-Folotyn-apf-2598295608.html?x=0&.v=1

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  36. I wonder how much chop suey they wanna make this week......they've stop shopped every sucker out there hehhehe

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  37. He Joe - checking in, off to a friend's wake, been a horrible week (mid 40s, two kids).

    VPN was acting up at the customer site so I was off and on all day. I'm going to set up a tunnel through my home router so I can bypass tracking and filters at the customer site. Sick of counting on my company's VPN.

    Bring PZG on, still holding what I have at $2.65 and $3.30...yes, I didn't get enough in the mid 2's but I'm cheap!!!

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  38. Ok, now I know who's shorting the pzg and ruining my long trades! Ha! Joe, thanks for the insight on silver...wish I hada sold back at the $50 level, but still holding those miners...exk, slw, svm, cef, pslv...looks like gold will perform better going forward. Also holding some of that mobi, underwater but hoping for some Chinese bounce to at least $10. Also, do you think the dollar remains the reserve currency? If not, U.S. citizens in for a world of hurtin', but agree with the excellent discussion last night, getting out of the Police of the World business will be a good thing.

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  39. Hey Nancy! We only have a few silver miners left and a little PSLV. Going to have the missus move some of what she has over to PHYS. I know, red and others might say it's still a paper trade but there's no way I'm convincing her to get a lot of physical. I'm picking up physical silver again in a little while, dollars and will start collecting some 90% coins. I think it was red who said a silver dime may actually be used for a dime in a couple of years. I just need it down a little more.

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  40. Gotta love all the Goldman Suchs talk today...it's like they had it on a loop on Bloomberg. Distracting the sheep eh Kli!? You guys have made me so cynical, and I appreciate it!

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  41. GS news today is all BS.....you are correct....NOTHING substantive will result...just noise for the sheep to believe that justice is being done...hehehheehhe.....Matt Taibbi and others have made too much noise not to show some action......and its Cy Vance's son no less...another retread from the archives of loyal ivy league scum

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  42. Agreed on GS, they might take down a few execs for show purposes, but the rest should be business as usual.

    But what about the stock as a short play here? I did short a small amount around $140, and already in the black, but I wonder if it's a safe short into the $120s while this "cloud" is hanging over. Or, as soon as hits some new lows next week, cover the short for a quick profit.

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  43. good luck shorting GS.....hehhehehe....not for me

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  44. Fabrice may actually take one for the team but so far the too big to fails can still get away with more or less anything. The general public simply isn't organized or serious enough about their anger to command much more than some token scapegoating.

    But hey lets take any points we can get, Fabrice Tourre still counts if we end up getting him.

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  45. I wouldn't be surprised if they're shorting their own stock. Anything is possible. I will have a quick trigger finger on this for sure.

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  46. If I had a nickel for every time someone speculated that GS or JPM was shorting themselves I'd be able to afford to short GS or JPM. Anyway if you have some hope of serious prosecution, go read some Taibbi articles and despair, abandon all hope ye who wish for the rule of law.

    Short term though who knows maybe it'll work for a trade. I don't think these banks like any attention at all, a lot of what they do is in broad daylight so a general lack of interest should be important to them.

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  47. Fabrice is cannon fodder for the peeps. His 8 figure Swiss Bank acct will be safely guarded after any time that he might serve.....every month past one year sentence an additional 2 million will be deposited. Also a virgin (male or female) will await his release in his new Meditteranean villa .....

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