Friday, June 28, 2013

Pump-n-dump Denninger

Blackberry took a dump on nasty-bad earnings this morning, and everyone over at ZeroHedge was laughing out loud at Karl Denninger and his expected losses.  Of course, ZeroHedge is rife with gold bugs and inflationistas, so they were only too glad to gloat at his pain.

But then someone mentioned that he had exited his positions prior to earnings, that he was flat.  Just a lowly stock-pumper and platform fanboi now, I guess.

His BBRY Tickers no longer state a position, although I think he picked up some calls today.  Who knows.  So what kind of pain did his sycophants on the board take today?  Will they follow Karl on this buying opportunity?

Face it folks, the value of BBRY is in the toner in the copier machines, and in its buyout value for pathetic, irrelevant Microsoft to launch their desperate mobile initiative number XXXIV (this time, for sure!)  They're done.

At the very least, pump-and-dump Denninger can do better than to encourage his flock to go long a broken mobile company into the maw of a consumer slowdown and epic recession.

So, you TickerForum people, insist that Karl post his positions again, especially if he's going to continue pretending that he's a member of the board, a gifted oracle to be consulted by their C-level executives.

If Karl is really a man, he'll go stand up for himself over in the Thunderdome of ZeroHedge.  But I doubt that ... what a douche.

The upper channel wall and the .786 retrace is at 1634 Wednesday.  Low volume melt-up into the July 4th holiday ought to do it.  Then we plunge again.

SPX 06-28 wave 4 triangle


Permabear Doomster said...

Hmm, well, a holiday week, you'd normally think we'd go into low volume melt mode.

Hourly charts offering sig' downside on Monday.

Certainly, I'll look to bail from short positions before the 1.5 day trading break.

The big unknown is how the market will react to the Friday jobs data.

Probably best to sit on the sidelines

treider_ said...

is this a possible scenario ?

your chart from JUne 24th.