Guest Posted July 10, 2003 Report Share Posted July 10, 2003 More recovery news: International Paper plans job reductions, mostly in salaried positions http://www.gomemphis.com/mca/business/arti...2100247,00.html Link to comment Share on other sites More sharing options...
scottcardiff Posted July 10, 2003 Report Share Posted July 10, 2003 The foreign exotica stocks are now pulling back, with targets at least 100% higher than projected pullback levels. I'd be careful shorting those until there is a breakdown. A lot of volume to be worked off, and I know I'll be trying to buy PCNTF near 10 for the ride to 25. And if that fails, Near 6 for the ride to 25. Alot of these stocks sell at pretty cheap price/sales valuations, especially relative to the YHOO, SONS and RMBS of the world at 20+ times sales. No chance of going up 100% + with MSFT, etc, so these are the new NTES, SOHU, SINA, etc. Watch REDF, EURO, EWEB, PCNTF, ASIA, CHINA, IIJI and IGLD I have doubles for all projected from their anticipated pullback levels. IF, of course, those levels hold. sorry, other than PCNTF, I won't give levels to watch. But I will say all levels are fibonacci related levels that are related on the weekly, daily and intraday charts. Link to comment Share on other sites More sharing options...
CMGI_FAN Posted July 10, 2003 Report Share Posted July 10, 2003 Watch REDF, EURO, EWEB, PCNTF, ASIA, CHINA, IIJI and IGLD Eys eshpeshally liek REDF, butt wid taht "SHARES RESTRICTED" simbil, duzint taht meen yore not aloud to bye it? Link to comment Share on other sites More sharing options...
GregFokker Posted July 10, 2003 Report Share Posted July 10, 2003 The End rocks da house. I have no doubt that he once sported suede Adidas, maybe even the brown ones, back when that meant something. Machinehead is the most inspiring writer I have read, although Wndysrf did a lot for me too. With that, it's time for a homemade iced coffee and a vanilla-flavored cigarillo with Lady Fokker out on the steps. Peace out, Liebe Stooliez! Link to comment Share on other sites More sharing options...
wndysrf Posted July 10, 2003 Author Report Share Posted July 10, 2003 From Lance: Finally, the Asian Exotica Barometer rolled over. He says the market won't go down easy, since the hopers and dip buyers always hang on to the last minute. "The Chinese trash triplets were roughed up to the tune of 6 to 8 percent. LOOK fell 10 percent. So, for the first time in forever, the Internet trash got smacked around pretty hard, and that may mean that we are finally seeing our speculative barometers giving the ?danger? sign. I think the market?s response to YHOO?s ?good? news today is the sign that we were looking for to confirm that indeed hopers might just be disappointed about next week?s Q3 guidance not indicating any sort of pickup in the economy. After all, hope alone can only drive stocks for so long. So, we should see stocks move lower from here, thus putting in the tops on the last of the high fliers in techland. But again, I don?t expect we?re going to see any major decline until after we get some sort of bounce off the initial peak and get closer to the midpoint of Q3. That?s just the way these hopers operate. They hope right up until the last minute, and then they panic." Link to comment Share on other sites More sharing options...
BudFox Posted July 10, 2003 Report Share Posted July 10, 2003 Stoolies, help a bruva out...I need a quickie history refresher... I understand why FDR suspended gold convertibility in '33, and I understand why he devalued the doooolar against gold...but why did he find it necessary to take everyone's privately owned gold? Were the banks that low on gold and feared loss of confidence in the international community?? What was the real reason and what was the excuse presented to the peeps? Many tanks.......27 From what I understand, deflationary pressures and looming banking crisis at the time of FDR's inauguration were causing people to trade in their paper dollars for gold and horde it. The Emergency Banking Act of '33 gave the president the power to forbid the hording of gold in times of national emergency. The confiscation of gold allowed the banks to not only stay solvent, but also to begin the devaluation of paper money and a long inflationary process. Initially, the media was horrified at the idea of inflation and the loss of the gold standard. But all were quickly subdued as the stock and bond markets caught on fire. So, in order to fight impending deflation, they opened the door to a fiat money system with unlimited inflationary potential. Sound familiar? Link to comment Share on other sites More sharing options...
Guest Posted July 10, 2003 Report Share Posted July 10, 2003 Called Roger Arnold for mortgage rate based on Wndy's information of under 5% rate. He has several products one of which is 4.75 rate. The condition for that rate is no refinance for 3 years. I wonder why? Yeah. Unfortunately I want to buy house now. Link to comment Share on other sites More sharing options...
Fukui-san Posted July 10, 2003 Report Share Posted July 10, 2003 Wouldn't surprise me to hear that the Asian central banks' accumulation of the U.S. Peso is being done on purpose. ?They are buying up the overflow from the Al Green Money Machine, and at the same time, buying gold under the table as fast as the Western Banks are selling. One day, a financial terrorism attack will occur. Chinese will suddenly dump its dollars on the open market, and simultaneously buy all the gold available on the COMEX and demand delivery. Better grab those gold shares now. The buy of a lifetime. One man's terrorist is another man's freedom fighter. Financial terrorism has been ongoing for the last 30 years. By the USA. Ever since Nixon "closed the gold window" and turned the USD into a fiat currency. Btw, such a move as you suggest would be completely opposite of how the Chinese have conducted their foreign policy over the last 3 millenia or so. Even if they were sure that they were in a position to do so without worrying about economic or miltary retaliation by the US. They would be perfectly content for the US to acknowledge China's natural supremacy and pay some form of tribute. Link to comment Share on other sites More sharing options...
Pee Brain Posted July 10, 2003 Report Share Posted July 10, 2003 Called Roger Arnold for mortgage rate based on Wndy's information of under 5% rate. He has several products one of which is 4.75 rate. The condition for that rate is no refinance for 3 years. I wonder why? Yeah. Unfortunately I want to buy house now. why cant you buy? is it only for refi's? my understanding is that you cant refi for three years w/o paying a penalty - its simply a prepay penalty. 4.75% seems like good dough if you are gonna borrow? it would have to get considerably lower to justify a refi anyway - thats tempting dough! Link to comment Share on other sites More sharing options...
strikerm3 Posted July 10, 2003 Report Share Posted July 10, 2003 Striker, Yes, it is by 10:30 am est. thanks Link to comment Share on other sites More sharing options...
crooked_analyst Posted July 10, 2003 Report Share Posted July 10, 2003 Swing trading KGC was fun while it lasted. Sold half my position of KGC at 7.30. Been riding the other half down. Sold the rest today at 6.25. It's been sucking wind ever since Goldman downgraded it. If Goldman Downgraded it, why'd you sell it? Link to comment Share on other sites More sharing options...
DrStool Posted July 11, 2003 Report Share Posted July 11, 2003 Anals Market Wrapdown Click Here Link to comment Share on other sites More sharing options...
Guest Posted July 11, 2003 Report Share Posted July 11, 2003 Nikkei opens down 103 Link to comment Share on other sites More sharing options...
strikerm3 Posted July 11, 2003 Report Share Posted July 11, 2003 Trying to think like a criminal. All this talk about OEX ramp has most Bears and Bulls believing it. As the chart shows Feb, Mar, Apr, and May was ramped within 10 days prior to OEX. While Jan was down prior to OEX. And finally Jun was just ramped a little. So, this has me wondering if everybody is leaning to the starbord side that we get a ramp job. With all the negatives that are happening (earnings, warnings, & economic news) Wouldn't it be a perfect time to let the air out of this market and let the calls expire worthless and screw everbody expecting the magical OEX ramp job that everybody and their brother expects? With the commercials short and in puts this seems plausible. Any thoughts to my contrarian criminal conotations? I think they would do the most options damage by just swinging the heck out of the market early in the week.The time value just goes up in smoke and thats the real money maker...time value.....jmho Link to comment Share on other sites More sharing options...
brian4 Posted July 11, 2003 Report Share Posted July 11, 2003 Nikkei now down 138-SPLAT! Link to comment Share on other sites More sharing options...
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