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odonnellm66 236 posts  |  Last Activity: 15 hours ago Member since: Jan 17, 2012
  • odonnellm66 odonnellm66 Dec 19, 2015 10:38 AM Flag

    Shakespeare's fool often spoke with prescient wisdom, but you seem only to have the "everlasting contempt" down pat. Why is this so?

  • I will fear no evil
    For you are with me
    Your rod and your staff
    They comfort me
    --Psalm 23:4
    And many of those who sleep in the dust of the earth shall awake
    Some to everlasting life
    And some to shame and everlasting contempt
    --Daniel 12:2

    Summary: Isn't it about time to make a careful risk assessment of our lives, as the earth is about to shake?
    Or would you rather play another round of some asinine ZNGA drug of conformity?

    Sentiment: Strong Sell

  • It's a short term band aid at best, and he must repeat the process next week.
    And the week after that.
    And the week after that.
    Until there is no more cash.

    Sentiment: Strong Sell

  • odonnellm66 odonnellm66 Dec 18, 2015 2:46 PM Flag

    How right you are. Hal the computer might just say, "I'm sorry Dave. I can't do that."

    Sentiment: Strong Sell

  • Please feel free to say some prayers to Saint Mother Teresa (who ironically enjoyed flying on the Concorde despite a vow of poverty) that the 200 SPY price level holds, otherwise the real drama can begin. Whether it is today, next week, or next month, things get ugly anyway. Who among you can time day to day market movements with any consistent accuracy? I can't. I have moderate success with a focus on the big picture. The big picture says the credit markets, obviously junk bonds, will continue to unravel. That carnage ultimately transfer to equities. Patience Dorothy.

    Sentiment: Strong Sell

  • It could possibly occur by the end of today's session. No matter, it is coming soon enough. Then we must ask if Yellen would do a complete about face and quickly reverse the paltry 0.25% rate increase, and as early as next week in the event of a meltdown. That unprecedented action would be tantamount to a full admission that the Federal Reserve has zero credibility, which just so happens to be the case. ZNGA addicts need not worry over such trivial matters. Simply glue yourselves to your touchscreen phones and play a few rounds of Dawn of the Testicular Glands. See, you already feel better. Such are the sublime joys of virtual realities. They relieve the stress of the modern world.

    Sentiment: Strong Sell

  • If the delusional ZNGA longs would just on board the doom and gloom freight train, we could get this rubbish where it belongs, which is $1.99 or less. For the moment, I reluctantly admit the heavy sea legs are a net positive for the ZNGA Brain Trust. Facebook demonstrates the same price resistance today. Does this confounding trend have long term staying power? Hell no. Geologic patience will continue to reward the ZNGA shorts.

    Sentiment: Strong Sell

  • odonnellm66 odonnellm66 Dec 18, 2015 11:47 AM Flag

    Attempt number six went finally through. I wouldn't do business with either of these outfits, but there is a bit of family history with Merrill. Full service brokerages firms are an anachronism by and large.

    Sentiment: Strong Sell

  • I tried calling three or four times this morning. It's pretty clear their 800 telephone system is being overwhelmed by clients panicking. Hell, that just means I must go to the local BofA branch. Does anyone recall that shotgun marriage? Merrill would have gone the way of Lehman without it. Your taxpayer money hard at work.

    Sentiment: Strong Sell

  • Consider for a moment the amount of leverage involved in today's triple witching expiration. Give me the trillion dollar value of the options expiring in just a few hours. There will be imbalances. You loved the computerized trade programs when they pushed the market higher, but it was somehow forgotten that this sword cuts in two directions. Don't forget Kubrick's masterpiece and Hal's famous line, "I'm sorry Dave, I can't do that." One word summarizes the current predicament, and most definitely applies to the junk stock ZNGA: LIQUIDITY

    Sentiment: Strong Sell

  • Caveats: 1) I seldom like to trust after hours trading without a big news event, and we have none. 2) Day to day price movements are best left to those more skillful with the reading of tea leaves.
    That stated, it still appears we will have some very heavy selling in tomorrow's session. It should be quite fascinating. The Federal Reserve will certainly push and shove on the futures market before the open. Let us see if they are successful. I think not. What are the implications for the junk stock ZNGA? Not good.

    Sentiment: Strong Sell

  • I had an epiphany last night while I tossed and turned in the back foldout bed of my 1968 VW bus. Copious amounts of blood will flow in the streets by tomorrow's close. TVIX will go catatonic. ZNGA will be dumped in droves. Most will vainly scream, "How could I have ignored the sage words of the stock savant, Zngathustra? Woe is me." Don't you realize I have direct lines of communication with the Holy Father? Repent now infidels and dump all shares of the ZNGA Brain Trust, or be transformed into pillars of dog excrement. Thus spoke Zngathustra.
    p.s. Remember when Boy Pinky and his tribal brothers dumped $600 million of ZNGA paper near $13- and during the lockout period? It was brilliant market timing.

    Sentiment: Strong Sell

  • At heart, I'm very much a contrarian, so actually when the herd and the madding crowd are against me, that very much reinforces my central thesis as being the correct one. Still, this is the holiday season, a period of blind and mindless consumption, and you folks exacerbate my penchant towards melancholia at this time of year. My psychiatrist, Dr. JR Silverstein, says he can prescribe pills for this spiritual malady, but I prefer to toke on the peace pipe. Alas, the winter solstice, which I believe falls on December 21, can't come fast enough. I will then be reassured when the days once again become longer. I'll also feel much better by the fact that ZNGA probably trades in the $2.30's by then. Let there be light in the midst of darkness!

    Hmmm. TVIX off to the races today. What could that possibly portend? We shall know as early as tomorrow.
    HYG and JNK off almost a full percent. So much gloom and doom.

    Sentiment: Strong Sell

  • Reply to

    Key and critical market indicators: HYG & JNK

    by odonnellm66 Dec 17, 2015 11:33 AM
    odonnellm66 odonnellm66 Dec 17, 2015 12:44 PM Flag

    By the way, do not be misled by what appears to be relatively small daily percentage moves in these ETF's. Diversified bond funds, junk or otherwise, are generally know for price stability and low beta values, so a single session 1% down move represents very serious carnage occurring beneath the surface. This is quite different than a 1% or greater move in a stock like ZNGA, which is quite normal. Stocks are apples and bonds are oranges, though tied with an umbilical cord.

    Sentiment: Strong Sell

  • Watch both symbols with a fine eye even if you have no position. I cannot overemphasize their importance and predictive value. We already witnessed some heavy bouts of selling in junk debt followed by a minor roadkill bounce on Tuesday. Selling has now resumed in junk bonds and actual defaults come this January among energy debt which comprises a large holding percentage of these funds. As goes illiquid high yield debt, so go investment grade and equities. Yes, we are talking about a domino effect quite reminiscent of the sub-prime debacle. The current levels of risk and complacency are nothing short of astounding. Deflation is clearly the primary impetus (as it has been since 2008, though papered over), and if the utter collapse in commodities transfers to bonds and equities, we could have some facsimile of a 1929 moment, and the Federal Reserve cannot run to the rescue this time. This is not just paranoia and fear mongering. Let the numbers speak for themselves, just as they should at the ZNGA Brain Trust. Keep in mind that Zngathstra was talking about a junk bond implosion well before it was widely reported in the financial press.

    Sentiment: Strong Sell

  • The reasoning is quite simple. The only prayer for this pathetic outfit is that someone is foolish enough to absorb the company via an outright buyout. Without such a deal, ZNGA simply fades away of ts own accord by persistently bleeding its much touted cash reserves away. When the bond market implodes, starting with junk and then transferring to investment grade, it will get much more expensive to finance such a proposition by issuing additional debt. We are also about to witness a huge psychological shift where preservation of capital becomes the mantra and high risk deals are shunned. The switch of risk is turned from on to off. This of course effects the current mad trend of companies repurchasing their own shares.

    Sentiment: Strong Sell

  • Predict day to day moves in the markets at your own peril, but tomorrow's session seems as good a day as any for a big decline, especially since it marks triple witching expiration. End game is quite near for the Fed inspired ponzi scheme, and junk bonds will continue to crash. When the mierda hits the fan, do you really want to be holding a hype company like ZNGA which has zero earnings and produces nothing but fads? Even at these so-called bargain basement prices, ZNGA still carries significant downside risk. These are very dangerous times, but full of great excitement. This message is brought to you courtesy of my employer, Vulture Capital Management.

    Sentiment: Strong Sell

  • This play (and ZNGA) has nothing to do with investing, so repeat the First Step after me:
    "We admitted that we were powerless over rampant speculation, and that our lives had become unmanageable."
    TVIX has limited downside risk and could close at $10- at this Friday's close.
    Let's get ready to rumble because this is the final hurrah for the markets and the junk stock ZNGA.

    Sentiment: Strong Sell

  • You know those folks, as they are all over the message boards. Apparently, this esteemed newsletter appreciates the fluidity (and accuracy) of my prose, and I have been offered the position of chief editor This job would require relocation to China, but I'm never one to refuse a bit of poo tang. I always like that Steely Dan album--Aja. It's brilliant. "Chines music always makes me........." Fill in the blank.

    Sentiment: Strong Sell

  • Actually, it's a little of both. The shale boys are dropping like flies in a response to rampant deflationary forces, and some big defaults are pending. The shell game, a ponzi scheme in every sense of the word, is found within the confines of that Zionist entity known as the Federal Reserve. End game nears for both shale and shell. This will be the most excitement you've had in years.

    Sentiment: Strong Sell

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