Friday, March 13, 2009
Oh Lord give me bullishtness but do not give it yet
Well if you had prescient nerves of steel you bought at the devil, S&P 666 and sold with the angles, this morning at S&P 750+...
The rest of us mortals are just sitting and shakin' our heads.
The Ganniacs (its' time even more so than price) are showing that the time and price wheel says the former is now for the latter to rise.
The Demarkists are torn between 600 as an immediate or intermediate target.
And the Elliot Wavin' Rorschachs are strappin' in for an elevator up and down.
The bullisht trifecta was also realized in the last few days : FAS 157 monkeying; uptick fantasy (won't stop the evil shorty); toxic overpayments (Charlie and the Crawl Factory).
That was all expected, but there was a fine layer of true absurdity added.
To hear Bandit and Lewis and Parsons (oh my!)say they are all profitable and won't need additional capital is farcial to the level of the Clintonista 'meaning of the word is is' chestnut.
Yes we're profitable cause we have zero cost of capital excluding all writedowns and if we actually show a net loss in the first quarter it will be because the squints didn't provide the 'relief' they were supposed to.
Consider it to be the Nancy Capitalists' 'Get out of Bail free' card ... gosh we really didn't want to take that additional capital that we said we didn't need but since you're forcing us to take more writedowns, golly gee, we have to!