Jump to content

Saddam Shocker


Recommended Posts

As usual, Riverboaters were celebrating the Saddam Shocker which instantly sent the futures in the Overnights screaming up to new highs, with Asian Exotica Advantest leading the charge with a 5% romp, pulling the Nikkei up 325 points.

 

However, the real Shocker was taking place in the commodities pits, where gold and crude oil actually rallied instead of collapsing, and the U.S. Peso was smoked to new lows for the move.

 

Anyone check out that juicy morsel on CNBS reporting from the Chicago Merc???

 

What's her name?

 

Anyone have a full length photo of her??

 

Am I the only one asking?

 

The usual Bubblevision cheerleaders were in Shock and Awe, wondering why the gold market rallied and why stocks were selling off.

 

The Supermodels were smoked on the open, tripping and falling off the runway, dazed and confused.

 

Where was the expected Casting Call from Dan "The Greaseman" Niles??

 

Oh, sorry, he's suddenly resigned from Lehman Bros. and he's signing up with Neuberger or some other house working in their "Private Asset Management" group or something......

 

Now he's going to where the money is at, pushing commodity products to rich Indian and Pakistani investors.

 

No doubt he received a nice bonus at Lehman for Bullhorning the public into INTC, AMAT, KLAC and all the other High Beta Screamers. I guess Lehman has now emptied its inventory of excess Soap Opera Actress inventory, so they had to let The Greaseman go.....

 

Anybody else notice the Brown & Co. TV commercials on CNBS???

 

What is that funky stainless steel enclosure sitting in the lobby?

 

Note how various Arena Participants slide open the door, "unwind some strangles and married puts" or something, then quickly exit.

 

Is it a Daytrading Center? Or some type of Time Machine that transports people back to the giddy days of 1999 - 2000??

 

What's up with the cameras inside?

 

And how about that dark skinned, dark haired Foreign Exotica featured, bragging about how "it takes people to find thinly traded stocks" at Brown & Co.??

 

Note how we were unable to get a full view of her leaving the Time Capsule.

 

What does her body looks like??

 

........................

 

Anyway, not much else to report today.

 

I'll be on vacation the next couple of weeks, so I'll be posting irregularly.

 

With Doc's permission, I would like to invite other Stool Pigeons to try their hand at opening the M2M with some commentary.

 

Especially you, Soup.......

Link to comment
Share on other sites

  • Replies 356
  • Created
  • Last Reply

One of the most spectacular examples of the Fibonacci Series in nature is in the head of the sunflower.

Scientists have measured the number of spirals in the sunflower head. They found, not only one set of short spirals going clockwise from the centre, but also another set of longer spirals going anti clockwise, These two beautiful sinuous spirals of the sun flower head reveal the astonishing double connection with the Fibonacci series,

 

a. The pairs are always adjacent numbers in the Fibonacci series

 

e.g. one pair could be 21 and 34 and the next pair could be 34 and 55

 

b. The adjacent numbers divided yield the Golden Proportion

 

34 / 55 = 0.618 or 55 / 34 = 1.618

 

source: http://www.goldenmeangauge.co.uk/fibonacci.htm

post-7-1071522937_thumb.jpg

Link to comment
Share on other sites

Sodumb Who?

 

Market Sells Off to Pay for T-Notes

 

Your Closing Anals Intraday are now posted. Take a subscribatory, open it and download it RIGHT NOW, along with everything else in your Anals!?

 

15 Day Intro Subscribatory. Just $2.99! Get In RIGHT NOW!

 

 

Fine tune your timing! Stooltrading is the place! Join your fellow stoolies sharing charts, trading signals and ideas! Each has a different style, and one may be just right for you. Doc gives his commentary as well, with illustrations of intraday cycles throughout the day with projections for highs, lows, and cycle time turns for the SPX and QQQ. He also gives cmap targets for individual stocks by request. There are no superstars in Stooltrading, just Doc and a group of hard working Stoolies, honestly trying to help each other and themselves, constantly checking and balancing one another's views. Our Founding Fathers knew it's good to have checks and balances. The more checks the more the balances. So take a subscribatory to Stooltrading RIGHT NOW, and increase your checks and balances! Become a Stooltrader and join the fun!?

Link to comment
Share on other sites

As of the third quarter this year, homeowners had $315 billion in outstanding debt from home equity lines of credit (HELOCs), according to the Federal Deposit Insurance Corporation, a 31 percent increase from the same time last year.

 

"For some people a home equity line of credit is a brand new shovel for digging themselves further into debt," said Keith Gumbinger, vice president for HSH Associates.

 

The average line of credit available as of June 2003 was about $69,500, according to a survey by the Consumer Bankers Association. Homeowners with lines of credit drew down 3.7 times for the year, taking out $13,142 each time, on average

 

Home equity line of credit looks to be the drug of choice.

Link to comment
Share on other sites

I gotta friend in the MoGauge business with whom I had a long talk today.

 

He's been under increasing pressure to push the newest products most of which center around sub-prime sorts of activities.

 

In one scam, they are targeting people who refi'd 6 or more weeks ago under the assumption that their houses now had an additional 3-4% of equity that could be mined.

 

They get a new appraisal (always favorable), a note from a CPA stating tax returns had been prepared for this person the last two years (taken as 'proof' of employment), and all is set for a 100% LTV transaction.

 

Says more than ever people are taking the Variable rates. People no longer consider their balance sheet, everything is a simple cash flow caluclation - how much will this action raise or lower my monthly?

 

All of this crap gets offloaded to CFC who sells it to ...whom?

 

Anybody know who ends up holding the bag on this garbage (besides J6P who will be ruined, obviously)?

Link to comment
Share on other sites

Shin: Yep, an accident waiting to happen. I am sorry but what the hell ever happened to putting at Least 20% down? Btw, I think I mentioned a couple of weeks ago that wells fargo mgt laid off 500 odd folks; they are back going thru round 2 ( not sure of the numbers, but their was a grievance counselor in the building). Is building up equity in your own home a bad thing? Listen the less you owe the more freedom you have. Who really needs a mcmansion?

Link to comment
Share on other sites

I gotta friend in the MoGauge business with whom I had a long talk today.

 

He's been under increasing pressure to push the newest products most of which center around sub-prime sorts of activities.

 

In one scam, they are targeting people who refi'd 6 or more weeks ago under the assumption that their houses now had an additional 3-4% of equity that could be mined.

 

They get a new appraisal (always favorable), a note from a CPA stating tax returns had been prepared for this person the last two years (taken as 'proof' of employment), and all is set for a 100% LTV transaction.

 

Says more than ever people are taking the Variable rates.  People no longer consider their balance sheet, everything is a simple cash flow caluclation - how much will this action raise or lower my monthly?

 

All of this crap gets offloaded to CFC who sells it to ...whom?

 

Anybody know who ends up holding the bag on this garbage (besides J6P who will be ruined, obviously)?

This article from LA Times explains why they are so desperate the push the new product.

 

With much of the steam out of the refinancing market, the mortgage financing industry is bracing for widespread layoffs.

 

Two of the biggest home loan providers in California and the nation ? Washington Mutual Inc. and Countrywide Financial Corp. ? have cut more than 6,500 jobs in recent months. And lenders are preparing to ax thousands more positions in the coming months.

 

In all, about 65,000 people nationwide employed at firms specializing in mortgage lending probably will lose their jobs over the next 12 months, according to the Mortgage Bankers Assn.

 

That represents about 15% of the peak employment in late summer, when 435,000 workers were processing home loans as borrowers scurried for fear of missing out on historically low mortgage rates. The association's estimate doesn't include jobs at banks that don't have separate mortgage subsidiaries, and there was no breakdown of the data by states.

 

But there's no question that California in particular has a lot riding on this industry. Data from the state's Employment Development Department show that employment in the two sectors that include mortgage lending and brokerage services jumped 18% from 2000 to 2002, to 110,200. And the sectors have added workers this year, even as overall employment has fallen slightly.

 

Fueling the growth: booming home sales and refinancing activity.

 

Statewide, the volume of refinancings totaled $169 billion in the second quarter, up 74% from a year earlier, according to the latest figures from DataQuick Information Systems. Meanwhile, home sales in California are expected to reach a record 574,300 units this year, the California Assn. of Realtors said.

 

But the Realtors group is projecting that California home sales will fall 4.5% next year, and refinancings already have slid since interest rates started creeping up after hitting a more than 40-year low of 5.21% in June. Last week, the 30-year, fixed-rate mortgage averaged 5.88%, according to giant mortgage lender Freddie Mac.

Home loan providers are expected to shed workers as rising interest rates slow refinancing activity

Link to comment
Share on other sites

Look for IBD crowd to rush to the exits now ....

 

IBD said last week that market had suffered 2 1/2 days of Distribution. With another one today (and that too Key reversal), and using their definition (3-5 dist days over 2-3 weeks), tonite they ought to declare THE END to this rally. LOB......

 

- Silky

 

PS: I bailed out of GOLDX on friday, thinking that a correction / decline will affect all stocks. I bot in Jan and doubled up in Mar. I am a believer in Gold, but couldn't leave 60% gain to chance (considering that shorting since May has burned a hole in my account and this gain partly offset that).

 

I know that this board has a lot of Gold believers (and rightly so !), but does anyone else think that gold stocks might be vulnerable to sell off ?

Link to comment
Share on other sites

I know that this board has a lot of Gold believers (and rightly so !), but does anyone else think that gold stocks might be vulnerable to sell off ?

Yes, I think the miners are vulnerable to a selloff. That is why I let my miners go. But I am holding the metal itself, and that is not, under any circumstances getting sold. I'll buy back the miners next year.

 

I think the metal will outperform the miners for a while. JMHO

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...