On this final day for Americans to sign up for Obamacare, the Associated Press is reporting that the magnificent website has once again crashed.
As of today, 26% percent of Americans do not approve of our president’s signature domestic legislation. Also, 3 out of 4 Americans will be subsidized by other Americans.
It’s safe to say that “Hope and Change” has officially been renamed “Log in and Crash.”
And actually the tale is really a “tell” for me at present. Over the years I have made it an academic exercise to track a list of the momo stocks that daytraders are wont to pile in to, if not leg hump to death. I affectionately refer to this as my “Lemming 13 Index” and the reason I track it, is because I suspect that when things become FUGLY – these will be the plays that get beat up the worst -and- conversely when everyone gets just stupid bull drunk – these are the most likely daily moonshots.
It is hardly an original idea on my part – these are prone to be the same stocks that every yammering media pinhead & self proclaimed market expert is talking about. So with that as the introduction – the current Lemming 13 Index for 2014 as of this post is (in no order of importance): Apple, Twitter, Facebook, First Solar, Priceline, Google, Amazon, Chipolte, Tesla, Linkedin, Wynn Resorts, Biogen & Netflix.
And the point of my hideous screed is going to be what exactly? I will now list them in order of importance in terms of their 2014 intraday highs relative to this Fridays close: TWTR: -36.71% NFLX: -21.61% TSLA: -19.86% LNKD: -18.72% BIIB: -18.05% FB: -17.33% AMZN: -17.10% PCLN: -13.33% WYNN: -12.68% CMG: -8.95% GOOG: -8.85% FSLR: -8.28% AAPL: -2.60%
*Piker’s note: AAPL should really be thrown out of the index. There are not enough leg humping daytraders chasing it anymore; for it to qualify for The Lemmings. I will have to replace it soon, but we can burn this bridge when we get to it.
My vast conclusions are these really… Two of the 13 Lemmings are already in a bear market. Six of the 13 Lemmings are teetering dangerously close to a bear market. That leaves four of the 13 Lemmings clearly in a correction, and of course FAAPL.
There is another way to sum it up. If I took a lazy man’s approach to this; and gave an equal weighting to each of the 13 Lemmings in the index – its 2014 trading high would be 5899.13. It’s March 28th close gives a reading of 5156.59, for a drop during this first quarter of -742.54 points or -12.59%. Again, clearly in a correction.
Are your ready to BTFD so you can be in line to BTFATH again? You’d have to be drunker than Cooter Brown in my opinion, to even try it.
We were told by the Socialist Democrats in congress and in media that we needed to pass an unread Obamacare law for the children and uninsured.
After four years and over a trillion dollars and counting we find out that 6 million people have lost their insurance because of this boondoggle. Also, we are told by this inept regime, who like to play with numbers, that 6 million people have signed up for their socialist Utopian healthcare plan.
New polling states that 26% of Americans approve of this law.
The Congressional Budget Office has reported by 2022 that because of Obamacare, 30 million non elderly people will not be insured.
The more this bill gets sunlight, the more it becomes patently obvious that when socialism collides with capitalism. Socialism fails. That’s why it is important to stop the Grand Alliance before they put a stop to you!
Kleptocracy – noun; a government or state in which those in power exploit national resources and steal; rule by a thief or thieves. informal: a government where officials are politically corrupt and financially self interested…
To wit: President Obama and the First Family left a $16 million dollar tab for taxpayers to pick up for flight expenses on just two trips last year alone.
Michelle Obama wants Chinese take out – rumored here to be a paltry additional $8 million dollars net; to you Joe Taxpayer. Eric Holder wants free frequent flyer miles, great gig if you can get it! That really must chap Nancy Pelosi’s ass given her private jet got taken away.
And what about uncle Ben Bernanke’s legacy balance sheet which now totals 4.3 Trillion dollars and allowed the biggest transfer of wealth from you the bagholders to the Five White Guys Who Ran Wall Street. The faces have changed but the names not so much: AIG, GS, JPM, MS, BAC and their bumlicking minions, liars and thieves.
Need I go on? Welcome to the United Socialist States Of America!
Bloomberg BNA reporter Ari Natter was detained today by the Obama regime for “asking a question” too EPA administrator Gina McCarthy. You see, Ari Natter was expressing his first amendment rights.
The very same rights our president was bragging about in Belgium.
Reporter cuffed and stuffed