Wednesday, July 3, 2013

Charts 07-03: Denninger likely still very long BBRY

Here is what passes for dissent and discussion on Karl Denninger's dying message board, TickerForum.

Karl's still writing with a peculiar passion about this dead-end company and stock, and not disclosing a position in or out of it.  I interpret this that he may very well not have been flat through BBRY earnings, but that he simply did not add to his position going in, especially with short-term options plays.

Karl is free to correct me if I am wrong, and I will acknowledge it with the grace and humility you have come to expect from this blog.  

Personally, I think Karl is an unstable flake, and I know I am hardly alone here.  Despite his overall bearish stance, he takes up with companies like RIMM from time to time just to boast about how very clever and knowledgeable he is about these things.  I guess today he is an expert on mobile platforms and marketing.  

Underwater TickerForum'ers, at any time did Karl's incessant advocacy of this company and its stock constitute investment advice?  Have fun with this.

Here in Deflation Land, we also see Karl as an unwashed philistine, one of those repulsive libertarian types who feels he has to operate entirely de novo and without a net, so that, like Ayn Rand, he can eventually praise Aristotle for agreeing with him.  

Long-time TF poster EightySixTheBS (or something like this), an articulate and consistent bear, also drew the banhammer for pointing out in The Bar that he was right, and Karl very wrong, about BBRY.  I hope Karl loses his ass on this company.  

OK, done with that for now, I think I need a shower.  Summer is here, and many fine hikes in the wilderness await.

We are still hanging in this range, and the overhead resistance of the decline since 1687 is sitting right above us, just teasing us to bounce hard off of it.

SPX 07-03


Bryan Franco said...

CG - any room for a steeper ED than the one you have shown, perhaps down to the lower 1500s? No real reason for my question, other than personal bias. Happy 4th!

Christian Gustafson said...

Sure, Bryan! You've got the 200DMA down there, and a few supports along the way.

My target is based on the .382 retrace of the rally from 1343 to 1687, plus chart support from March and April.

Where we stop ... anyone's guess, right?

Permabear Doomster said...

Hey Deflationland :)

Hope you are good, and enjoy your free Thursday :)

I could say a lot on Denniger. Suffice to say, I am still a reader of most of his postings, but yes, he sure doesn't like anyone who disagree with him.

I will hope he merely sticks to economics chatter, that is where he excels.

*As for the market, I can only hope this nonsense won't put in a daily close >1630 on Friday.

I am still short, and need the 1570s..near term.

Bob's Technical Analysis said...

Apple = lol

Getting banned from Tickerforum is the equivalent of getting kicked out of the Special Olympics, lacking disabilities.

He is a pump and dump. And yes, he has always given investment advice.

sooner said...

Seems like he's gotten worse since the black day he went nuts banning all of his strong market contributors.

eighty6thebs said...

Thx for the mention CG. Don't miss TF. We all tried to help the place but KD can't get out of the way of his own ego.

Let's run off the guy who called it right on BBRY when the object is to make money? Nice...what did that pick cost his followers?