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Something Basic And Worthy Of Repetiton

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Guest yobob1

Could I interest you in some mountain property Doc? :D

 

People who live on flat land shouldn't throw big rocks in the water.

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Glad,

 

Great opening. To add, as a member of the educated unemployed (my Bar license comes this week), who lives off casino gaming winnings and some minor short wins, I think the word "sweating" encompasses everything to do with speculation. Reason dictates that if brilliant people do their homework and take educated riskes they'll win more than lose. The wrenches in this scenario are too high of leverage and psychology. Those two things can screw up the best laid plans. As cliche as it sounds, to be a winner one must quit a winner. There's just no other way. knowing when to walk away is key. If one is not capable of doing this due to stress or addiction one should not play the game.

 

-Bird

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From the Daily Reckoning

 

Household net worth is falling at an annual rate of $1.8 trillion, says the Fed. But mortgage debt is rising at nearly 13% per year - 4 times as fast as the growth of the economy, personal income, and inflation. That too, must sink towards mediocrity...but when?

Other dirty secrets will come to light, we suspect, when the refi bubble finally pops. But mostly, people will wonder what they were thinking. Why did they add to their mortgages when they should have been paying them off? Why did they buy stocks when they should have been selling them?

 

And then, when the secrets are out...when the P/Es have collapsed...when yesterday's excellent CEOs and maestro central bankers have become scoundrels and incompetents...mediocrity will be popular, once again.

 

 

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Guest yobob1

POG is back to near even again. Lately London sells it off and then when the US markets open it gets bid up more often than not. This is reversal from the patterns of not too far back. What gives?

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Thanks a lot Doc,

 

Since I live on the Long Island Sound. Now I can look forward to watching a wave crash over LI just before it fills up my new indoor swimming pool that was formerly my living room. Oh the humanity.

 

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German industrial production - 2.3% in September. Japanese consumer spending -2% both suprising in terms of magnitude and direction. Suggests a US trade deficit of 6% in 2003. Never before has a nation survived a 6% deficit without massive inflation and currency devaluation.

 

John Snow CEO of CSX appointed Tresury Secretary. Long live the new economy managed by a railroad man!

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Hey look guys/gals....I can dance! Tanks go to Ano for the fantastic animation of my avatar. Another fine Ano animation. Tanks man! Now if we can put some little bull images below my moving feet with some internals falling out, that would be huge. :grin:

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Isis Rated New `Market Outperform' at Rodman & Renshaw

By Betty Guarino

Princeton, New Jersey, Dec. 9 (Bloomberg Data) -- Isis Pharmaceuticals Inc. (ISIS US) was rated new ``market outperform'' in new coverage by anal cyst Elemer Piros Phd at Rodman & Renshaw. The 12-month target price is $15.00 per share.

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A retail sales reporter this morning said that sales were below targets over the weak end.

 

I thought it busy, but not as busy as it should have been where I had gone. My $166 tape at Best Buy was the smallest one I observed in about 5 minutes standing in line.

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Cautious note for Gold Bugs

 

Keep in mind Im a contrarian by nature, and LT bullish on gold stocks, just not right this minute.

 

1. Commercial short positions are at the highest levels of the year, similar to where they were at the last two peaks of this year. Commercial shorts en masses are rarely wrong. The public en masses normally always wrong.

 

2. Small traders long positions are at their 4th highest levels ever. 41,500 long contracts. Prior to this year, the only other time small traders have been this bullish was Aug 93, at another price peak of $409 per ounce.

 

3. Trianges preceed the final move in an Elliott wave sequence, a final thrust higher for gold prices is quite likely near term.... your opportunity to close long positions and go short IMO... history does repeat itself...

 

... you've been warned, with plenty of room to make some quick long money, but be prepared for a very sharp reversal...

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