Monday, July 23, 2007

Bullriding

Every so often I watch a sport called "Bullriding" on TV. A cowboy tries to ride a huge bull for eight seconds with only one hand holding a rope. The cowboys and bulls are experienced pros, and some bulls are very tough to last a full ride.

This bull market is a pretty tough ride, too, as Friday showed. Those beefers are doing their best to scare us off. So they use a summer Friday options expiration to paint the charts.

The S&P cash is back on support, still over the 50 DMA. The Nazz shows a choppy bullish flag; the Nazz 100 still shows an uptrend. The Dow Industrials shows a choppy bullish flag, too.

Sheesh. Bubblevision puts Sutty on - he's a bear, making a big deal of the pharmas. Since when are the pharmas leaders?

The NYSE short interest hit a new record again - five months in a row. NYSE short ratio increased to 8.4 days from 8.0 days. The Nazz reports this week, and a new record there seems certain. You readers were smart not to take my sucker bet on the record short interest.

Seems like the beefers bears uses GOOG to try to start a panic. Huh? Uh, year over year earnings were up 43% and revenues up 58%. GOOG bounced on the 50 DMA. I think the bears will get hurt on that one.

Brent still is at a premium over WTI. Nat gas has pulled back - I'm worried about that low - have a small loss now after being green. Any Green-red move mandates re-thinking a trade. Soybeans are still chopping around. Today's crop conditions reports might set the trend there. We are approaching the crucial podfilling period. A weather service I use says the first 20 days of August will be the hottest period of the summer. So that's why I'm long both those commodities.

Vermont was great fun - very tiring, but hugely enjoyable. I'm really, really good at the T&E adjustments on the M1919A4s - I use M1917 tripods. Also with handling the M60 "Rambo" style. I even was impressing line staff with my M14 handling - that has a huge kick on full auto. Few men can handle that one, but Bunkerman can hehehe ;-) The M1928 Thompson worked great with the L Drums with brass cases. Dumping a drum in one pull is a thrill every time I do it. Friday we did it in the rain hehehe ;-) Saturday weather was perfect :-)) I came home dirty, greasy, and tired, but looking forward to next year.

PS: I've been getting the "Blue Screen of Death" on my eSignal computer frequently now ["KERNEL_STACK_INPAGE_ERROR"]. I didn't install anything new - neither software or hardware. So the Windows suggestions are worthless. Anyway, I'm transferring vital files to my new Vista computer, one folder at a time since I got a Blue Screen when doing all of "My Documents". Strange error - some say it's a hard drive problem. Windows computers suck is all I can say. I'll call Dell for service once I get the vital files transferred. They might want to replace the hard drive.

PPS: RIG and GSF agree to merge in sort of a merger + recapitalization as lots of cash is included. Interesting. Alpha Fund owns both.

29 comments:

Spin-em said...

Heck of a TLAB call frosty.....

Like that MS 200dma trendline back to 06....been close to a bottom in the past and plenty o shorts now..nibblin with some room

Frosty said...

Bunkerman....or should I say big shooter...welcome back, the market didn't like your absense and appears to be happy to have you back in the bunker.

Frosty said...

UNG caught me this morning....Bud laying all over it....good fade my young republican freind.

Bunkerman said...

Hmmm. I just noticed gold popped on my absence. Since seasonals should be beter soon, I should try to get some more on a dip.

Bunkerman said...

My gold buys here are long term, by the way. This fall I'm going to take down the physical metal for the Krypto Fund.

Bud said...

Frosty called TLAB....sheesh....I gotta pay more attention to his posts. What you got today? I'm stuck with a sandy koufax jersey that I'm takin a bath on.

Bud said...

I really underestimated Hopkins. 42 years old? He is in great shape. I knew I was in trouble when 'the executioner' wanted to get it on at the weigh in. That's what i get for bettin against a guy from the hood in philly who did hard time.

Frosty said...

ZMH wants par Bud, decent pattern and perhaps some ISRG pin action.

Frosty said...

Bunkerman....mrs b loading the boat with big macs and quarter pounders for tuesday....is it time to super size?

Bunkerman said...

No opinion Frosty. It's a long term position. Mrs. B likes McD a lot.

That chart looks good for a breakout, though.

I contributed to their earnings on Saturday hehehe. Double QP with cheese & a double cheeseburger & fries to top it off :-)

Bunkerman said...

btw, I think they will do well in China and will get lots of publicity there with the Olympics. With the food scares in China, McD will look good with their high quality food. ;-)

Bud said...

I don't know how you do it Frosty. What a headache (hangover) I have today. Drinking sucks!!!!!

Frosty said...

uh Bud...sounds like you have a stopping problem...take a couple of malted beverages and check back in later.

PPCO see if they can close it strong....tight tight tight stop...not extending my neck.

Spin-em said...

geez Bud..ya have to drink water before ya goto bed..no headaches.....@#$%^& rookies

maverick said...

Bud...you just need some strange...that will cure you

Bunkerman said...

Drink martinis - my recipe is the best. And spin's right - several large glasses of water helps a lot.

Bud said...

Rofl rookies. Mern isn't here to I guess i better further clarify. The reason I'm so hungover is I didn't mix alcohol with narcotics. Mixing hard drugs with booze usually prevents that nasty hangover.

Bud said...

Yes maverick....workin on it. Rounded second but ....got thrown out at 3rd.

Bud said...

Actually B'man....next time i booze it up...i will try 1 of your martinis.

mern said...

bud, as usual, u r wrong. u did not hyderate properly before passing out. thats all a is hangover, dyhdration.

im at the pinecone studying for my 24, i take in the am. "studying" lol.

ill go home, pass out, wake up at 10, study to till 2am, sleep 5 hours. take the test, get a 74 and ill be on my way.

vick ROFL
stern ROFLMFAO twice, i bet it goes to the top. seriously

whats the market doing?

im a little pissed i passed on that sub 12.50 silver but oh well.

at least the giants suck!

Bunkerman said...

Market is up, mern. So far you are saving much by not trading the dark side ;-)))

Spin-em said...

anybody who bets on a boxer named Winky should have a headache...rofl

mern said...

didnt i say the nba was fixed?

Bud said...

Really spin? I guess you didn't watch Winky kick jermaine taylor's ass.

die yankees die !!!!

Frosty said...

CLNE...speaking of good calls spinny, keep them coming.

Frosty said...

mern...you have a carry trade rap?

Bunkerman said...

Peace on Earth

Bud said...

Peace on earth? Aren't you the one who wants to bomb or nuke every other country. And don't you spend your weekends 'playing' with firearms. What a joke you are. Spare us the 'peace on earth'.

Bunkerman said...

Your ignorance amazes me sometimes, Bud. "Peace on Earth" is what the nut, Gen. Jack Ripper, doodled (along with "Purity of Essence") in that super movie, Dr. Strangelove, as he was starting a nuclear war. The prefix code for the recall was "OPE", derived from it.

I'm having a bit of fun with the Peace on Earth closing hehehe ;-)