Thursday, July 2, 2015

Everyone is laughing at Karl Denninger again

... as his pet stock BBRY crashes.  Under $8 now!  A 5-handle is calling ...

BBRY OMG LOL

Meanwhile, Karl still carries on like this, preening himself and pretending the world can be "fixed".

If YOU are not willing to do whatever must be done to stop this in the current time frame then you are a monster, you are "invested" in fraud, you are consigning your children to privation and you are destroying not only your future (unless you're older than 75 you're nearly-certain to get what's coming to us all) but theirs as well.
YOU.  
Not someone else, YOU.

Pace Karl Marx, the point is not to change the world, but to understand it first, and change yourself.  All that Karl Denninger's nauseating Boomer idealism gets us is angry, fed-up, and ultimately ignorant readers. 

Meanwhile Karl signs up new idiots to buy BlackBerry and hold it to zero.  Well done, sir!
That could have a rather-interesting impact on those who are short the company's stock...
Yeah, they just made about 10% since Karl wrote that!  No "golden cross" for you!

Thanks for the laughs.  Buy that dip.

Wait a second -- why is Karl still blogging?  How many tantrums and pious exits does he get?  Shut it down ... put it in the oven ... Shut. It. Down.

39 comments:

Christian Gustafson said...

Tick-tock, BBRY's IP gets less relevant with each passing day. Even the recent departure of the Nokia chief from Microsoft couldn't gin up enough M&A speculation to bounce this thing.

The stock is a wasting asset.

sooner said...

I feel bad for Asimov, I think he bought that crap.

Christian Gustafson said...

Yes, yes he did, back in the $17 days. With OPM in fact.

Bicycle said...

Is there anyone out there doing any TA on Chinese Indices?

Permabear Doomster said...

re; Is there anyone out there doing any TA on Chinese Indices?
-

Well, I been warning of the 3400s since 5K was hit. Few seem to care though.

Christian Gustafson said...

Do they have proper/modern mechanisms in those markets for shorting?

Is there any way to squeeze things higher, or do participants only have the option to SELL and RUN?

LOL, now they can use their ghost-city flats as collateral.

Yeah, sure looks like China is poised to lead the World in the next round of human civilization. They sure have figured everything out.

Team Winning said...

BICYCLE....THE SHANGHAI INDEX HAS BROKEN DOWN THRU SOME KEY LEVELS!!!!!

NEXT SUPPORT LEVEL IS AT 3602......IT CLOSED AT 3684 TODAY!!!!

Team Winning said...

CG MY BROTHER, I HOPE YOU ARE WATCHING THE NEWS THIS SUNDAY AFTERNOON!!!!

I TOLD YOU LAST WEEK THAT GREECE HAD LIT THE FUSE......SO IT BEGINS!!!!!

Sarah Bell said...

Wow Chris I din't know you had a Brother - did you?

Christian Gustafson said...

I do have a younger brother ... and of course Team Winning.

The Greek people will now be absolutely crushed; we wish them well in their new life of autarkic communism. EUR/USD is still holding 1.10 at the moment, and /ES isn't out of whack.

Now Greece can count on ... thieving Greeks ... to fix this mess! LOL good luck with that!

We await the response now from the ECB technocracy.

Reverend Nihilism said...

Excellent! Now our media overlords will have a great excuse for our coming bear market.

Christian Gustafson said...

I still don't think the top is in yet, folks. Not on a shitty overlapping count from the top like this.

If the Greek panic had come right at new highs, maybe so. But the ECB is now up to bat, the thieving Greek people are going straight to hell now, and the S&P 500 can still easily make 2150 from here. AAPL to $150, etc.

Only THEN will the stars (weekly, monthly candles, etc) line up nicely for a proper top.

I just don't see how this run ends from something everyone knew was going to happen.

T.Berry said...

agree cg. we could be a few years from topping. greece default lived up to a non-event. how many american's are stopping spending because of greece? none. our economy will continue to thrive for a while.

Sarah Bell said...

T. Berry - have you been smoking dope again. The American Consumer "ain't no more".

Real unemployment is about 24%. What are you a troll for the federal reserve.

Bicycle said...

It isn't the US Consumer that's the problem, it is the Chinese consumer. And the Chinese consumer is very tied to the European economy, and by proxy, Greece. The Chinese consumer is the growth model for basically every US multinational corporation.

Most also don't realize the level of consumption and investment in the US by Chinese foreign nationals. This was the "hot money splashing ashore" as intended by the Fed to raise asset prices and wages...

We are in deep trouble guys.

The Chinese saw the fire start, and are moving to the back of the Station nightclub... Great White is still playing on stage... and Americans gaze at the growing conflagration, assuming it must be a scheduled part of the show...

Bicycle said...

Hey CG remember that chart of mine that suggested Chinese monetary supply would explode higher?

I wonder... how long it will take for them to pull the trigger.

Reverend Nihilism said...

https://www.youtube.com/watch?v=-DT7bX-B1Mg

Christian Gustafson said...

Million-Euro question here is whether we just finished C of 4 or the giant E-D, or if the top is already in from May and these are just sloppy early waves off of it.

Still dependent on headlines and the news cycle on this mess.

BBRY $7.68 LOD ... is Karl still holding this? He in it for the long-haul? Of course, for all of his pumping of the stock, he never has disclosed his stake in it.

Bicycle said...

Haven't looked at that chart in years... BBRY currently looks like a big descending triangle targeting zero

Bicycle said...

meanwhile, in the Illinois...

Christian Gustafson said...

Jeez, Bicycle, my elementary school has dwindled down to just over 100 students.

That's for K-8. We had twice that when I was there.

Are pockets of Northern Illinois emptying out? I know that towns like Cairo in the southern end of the state are pretty much for ghosts now.

Christian Gustafson said...

Everyone drink a beer if Denninger mentions the hammer candle on BBRY today. I'm sure it's only up up up from here.

Bryan Franco said...

What about a 5f on the daily... Would that make things less overlapping?

Christian Gustafson said...

5F in June? Yes, that's possible, too.

The action that day, particularly in the volatilities, was similar to what we would expect on a topping candle.

Bryan Franco said...

That is exactly what I am talking about. Russell 2000 futures but not S&P futures took out Sunday night lows. Don't know what to make of it just yet. But I like the lower lows in cash equities.

Bryan Franco said...

That is exactly what I am talking about. Russell 2000 futures but not S&P futures took out Sunday night lows. Don't know what to make of it just yet. But I like the lower lows in cash equities.

Bryan Franco said...

That is exactly what I am talking about. Russell 2000 futures but not S&P futures took out Sunday night lows. Don't know what to make of it just yet. But I like the lower lows in cash equities.

Bryan Franco said...

Woops sorry. Dunno what happened.

Team Winning said...

BRYAN, SARAH THINKS YOU ARE SMOKING DOPE AGAIN.....HENCE THE MULTIPLE POSTS :-)))))

Team Winning said...

CHINA IN FREEFALL INSPITE OF THIS......COMING SOON HERE!!!!!!

Over 700 Chinese companies have halted trading to "self preserve". That means about 25% of the companies listed on China's two big exchanges -- the Shanghai and Shenzhen -- are no longer trading.

Christian Gustafson said...

Patience, ladies!

Meanwhile, Microsoft overhauls its own lifeless mobile division, with no mention at all of the BlackBerry, or of the QNX.

Reverend Nihilism said...

BPSPX now flashing a bear correction, we'll see.

Reverend Nihilism said...

Total Twilight Zone, right after I posted that BPSPX bear correction, I noticed trading was halted. Big dawgs loading up before the massive short squeeze? Or something else?

Christian Gustafson said...

If your faith still holds true to One More High in all of this, I believe you would count the bounce off of yesterday's low as a 3-wave "A", and today's deep retrace as "B".

"B" could go on for a while, waste some time, maybe draw a triangle here.

An impulsive "C" of 5 and the rally to a new ATH and shooting-star candle reversal would come on some sort of beatdown of Tsipras on a Greek bailout. The excitement from this news would be real but ultimately fleeting.

Denninger posted again about BBRY this morning, still holding out -- his faith is even more weird than ours.

Christian Gustafson said...

The alt count is of course that the 5th wave already completed on a failure (lower high) in late June when Greece shifted course and the VIX got all excited.

That count would have an impulsive "W3" down ahead, soon enough, that will make itself known to all.

Bryan Franco said...

I remember in '09 that I expected a larger retrace in the summer (if not one more low). That never happened and we were off to a 6 year race. The good thing is that on the long side, there is always plenty of time to get long. Bull markets move slowly. On the short side, there is a risk you just don't get that time. That's what's forcing me to give the 5f scenario more credence than it might normally deserve.

Christian Gustafson said...

SPX RTH making a very-plausible IHS if we hold here.

Team Winning said...

COMING TO A MARKET NEAR YOU!!!!!

China Bans Stock Sales by Major Shareholders for 6 Months

China’s securities regulator has banned major shareholders, corporate executives and directors from selling stakes in listed companies for 6 months, its latest effort to stop the nation’s $3.5 trillion stock-market rout.

Reverend Nihilism said...

DJT 8K? Aaand, it's gone!