Bearbones Posted January 7, 2004 Report Share Posted January 7, 2004 Soup wants justice. Link to comment Share on other sites More sharing options...
Yaryman Posted January 7, 2004 Report Share Posted January 7, 2004 From Rev Shark at realmoney.com "A lot of stocks are screaming higher, although the indices are in nosebleed territory. Do you chase them and hope this Ponzi scheme of momentum continues, or do you sit on your hands and shake your head at the irrationality of it all?" http://www.thestreet.com/p/dps/td/tradingdiary1.html As usual he has a pretty good handle on the market. Link to comment Share on other sites More sharing options...
soup Posted January 7, 2004 Report Share Posted January 7, 2004 Mr Hanky: Sorry to hear that. I will save the board another rant on the gross injustice and hypocrisy of our drug laws. Link to comment Share on other sites More sharing options...
The End Posted January 7, 2004 Report Share Posted January 7, 2004 Notice how the COT traders are getting MORE bullish? Link to comment Share on other sites More sharing options...
brian4 Posted January 7, 2004 Report Share Posted January 7, 2004 I agree TE falling apart in here would be wunnerful, wunnerful! Today started out wunnerful and ended lousy. However NazCrap did diverge from the Dow, the Spoo's did make a lower low and a higher, high and the Wilshire Index (TPM) closed on its high whats it all mean??? MAYBE that we all need a drink-make mine a double-I'll try shovelling snow for now-trade Safe! Link to comment Share on other sites More sharing options...
agent.5 Posted January 7, 2004 Report Share Posted January 7, 2004 So is Todd at Minyanville. All the pros know that this is Bullshit. Link to comment Share on other sites More sharing options...
soup Posted January 7, 2004 Report Share Posted January 7, 2004 closing tick +1134, yep just a coinidence. That is pure unadulterated collusion engineered by the fed. And yes, at the end of the day I still believe the bastards will fail! Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 7, 2004 Report Share Posted January 7, 2004 you think you got it bad?check out my story this week... I have just been told I cannot work in any casino in nj for 4 years(I am a stage technician working in 6 casino's).why you ask?.....I got caught a few years ago with 7 grams of pot(40bucks worth).fortunately the charges have been dropped and i have no criminal record at all.the casino control commision(god)says they don't care if the charges were dropped.just the fact that I was charged is enough to ban me for life if they so choose. Hows that for justice!I am now guilty after being proven innocent.just being accused of a crime means I'm automatically guilty.now I have no job,a new house being completed in 3 weeks and a new car( not to mention my dog dropped dead a few weeks ago) and this was one of my better weeks lately i'll be toking up in your honor this evening... a big merv griffin "ooooooooooooohhhhhhhhh". eff them, we're about to re-visit the wild west. pack a six shooter and good herb. Link to comment Share on other sites More sharing options...
Farmer Posted January 7, 2004 Report Share Posted January 7, 2004 Of coarse it all going up. It will continue until it doesn't. Then what, what ,no one will be ble to get out it will fall so fast . Not even the nimblest of the nimble. So what do I want to be caught in when I can't get out. Hmmmm Energy Hmmmm Gold Hmmm Comedies. Sounds good to me. Link to comment Share on other sites More sharing options...
Guest Posted January 7, 2004 Report Share Posted January 7, 2004 you think you got it bad?check out my story this week... I have just been told I cannot work in any casino in nj for 4 years(I am a stage technician working in 6 casino's).why you ask?.....I got caught a few years ago with 7 grams of pot(40bucks worth).fortunately the charges have been dropped and i have no criminal record at all.the casino control commision(god)says they don't care if the charges were dropped.just the fact that I was charged is enough to ban me for life if they so choose. Hows that for justice!I am now guilty after being proven innocent.just being accused of a crime means I'm automatically guilty.now I have no job,a new house being completed in 3 weeks and a new car( not to mention my dog dropped dead a few weeks ago) and this was one of my better weeks lately Mr. Hanky: Sorry to hear about the loss of your dog. I know that experience first had, as I just went through it a couple months ago. Hang in there...Tom Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 7, 2004 Report Share Posted January 7, 2004 no link, apologies. Fed Endorses Report On Clearing Bank Disaster Planning 01/07/2004 Dow Jones News Services (Copyright ? 2004 Dow Jones & Company, Inc.) By Rebecca Christie Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. bond market players should shore up their systems to prevent catastrophic losses if one of the two bond-clearing banks were to go under, according to a new report from the Federal Reserve. Regulators need to keep close watch on the two clearing banks and develop ways to adapt if one of the banks becomes incapacitated, said the new report, prepared by a Fed task force and released Wednesday. Also, bond dealers need to use centralized trade clearinghouses wherever possible and make sure their record-keeping is topnotch. J.P. Morgan Chase Co. (JPM) and Bank of New York Co. (BK) provide trade-clearing services for the entire government bond market. Bank of New York was hit hard by the Sept. 11, 2001 terrorist attacks, leading to significant disruptions that took months to straighten out. In 2002, the Fed issued a white paper on the sector's limitations and created a working group of key industry participants, assisted by observers from the Fed, the Treasury and the Securities and Exchange Commission. Now that the group has reported back, the Fed has endorsed its proposals and other regulators have added their support. "The working group's report is an important part of the effort to ensure that the system is prepared in the event that the services of one of these two banks is disrupted or terminated," said Brian Roseboro, the U.S. Treasury's acting undersecretary for domestic finance. The new report primarily endorses the current clearing and settlement system, despite its acknowledged weaknesses. Panel members have said that starting a new system from scratch, or even a big overhaul, would be too costly and divert resources from more immediate needs. Bank of New York and J.P. Morgan have separate clienteles and incompatible data systems. There was early talk that the two clearing banks should develop ways to communicate, but that idea was rejected early on because of its expense. Instead, the report focuses on ways to adjust if one of the banks runs into trouble. In an emergency, regulators should make every effort to provide emergency liquidity and regulatory relief, the report says. It also recommends the creation of a new clearing bank that could step in if either Bank of New York or J.P. Morgan Chase should lose the market's confidence. "NewBank" would be set up in advance as a dormant shell bank, jointly owned by the big players in the government securities market, according to the recommendations. If needed, the new entity could be activated to contract with one of the existing banks and take over management of its clearing operations, which presumably would still be intact. The Fed said it plans to establish another private-sector working group to work on developing the NewBank concept. (MORE) Dow Jones Newswires 01-07-04 1342ET DJ Fed/Clearing -2: Castrophic Problems 'Extremely Remote' The working group viewed the chances of catastrophic problems at either clearing bank as "extremely remote," said Michael Urkowitz, a Deloitte Consulting consultant who served as the panel's chairman. "Nonetheless," he said, "should this extremely remote event ever need to be confronted, the consequences could be quite significant." Bank of New York and J.P. Morgan both participated in the working group. Urkowitz said that they and other participants supported its recommendations. "I have a good sense that everyone is on board," he said. The report urges industry members to devote special attention to telecommunications and the threat of cyber-terrorism. It calls for the industry to work together on a secure and resilient telecommunications system for the bond markets. Also, the report asks regulators to consider their ability to relax rules in a significant crisis. In an emergency, regulators could ease capital requirements and suspend penalties for incomplete transactions, also known as failed trades. The Fed, Treasury and the Securities and Exchange Commission all have the potential to make their rules more flexible if necessary. The report acknowledged the pros and cons of such loosening, and urged regulators to consider ahead of time what steps they might take. The report doesn't address regulators' potential willingness to step in, however. Some skeptics in the industry have said that the NewBank idea is far-fetched, given the Fed's recent track record of organizing a rescue party for the troubled hedge fund Long-Term Capital Management. But the report warns market participants not to count on a clearing bank bailout, or on automatic suspension of key financial regulations. "A presumption of relaxation could introduce unwanted consequences into market practices," the report said. The report calls for increased use of the Fixed Income Clearing Corporation's netting and settlement services. FICC, an industry-owned utility, has relationships with both clearing banks and the main players in the government bond market. Also, the report endorsed ongoing efforts by the Bond Market Association to keep in touch with members and coordinate any changes to market operations. BMA executive vice president Paul Saltzman, a member of the task force, said the group would continue its work with the industry and regulators on these issues. Saltzman said the NewBank idea prepares for an unlikely, worst-case scenario, but still deserves further exploration. "The idea is interesting enough and facially doable enough that it is worth people's time to think more about it," he said. The Fed's working group on NewBank will likely be named within a few weeks. Urkowitz said he expects to continue his work on these issues and may be named chair of the new group. Link to comment Share on other sites More sharing options...
yellowfish Posted January 7, 2004 Report Share Posted January 7, 2004 i'll be toking up in your honor this evening... ditto! http://www.warphead.com/modules/news/article.php?storyid=395 Link to comment Share on other sites More sharing options...
Short'em High Posted January 7, 2004 Report Share Posted January 7, 2004 Good to see you SEH. TE, Always good to hear from you and the other Stooltowners. Cold day at the ranch. SEH inside trying to stay warm. Reflecting on 2003. I must admit I ignored one of the nicest trending market actions in some time. Looks clear in retrospect, but it seems ... a 5 year with a ruler could have traded this market. SEH Link to comment Share on other sites More sharing options...
BigWave Posted January 7, 2004 Report Share Posted January 7, 2004 Soup: This is the greatest entertainment ever. I don't even pay any attention to TV Sitcoms, Sports, or anything else. Love watching this action. Can't wait to see how it blows up. Why not stay in cash and watch???? Same here..My negf says "I'm sick of hearing about the sm and the matrix, I liked you a lot better when you had a life"..I thought time for the next-ex girlfriend.. Hanky- That sucks..wonder how many people working at the casinos are mobbed up...I thought that was the real danger..hang in there.. Link to comment Share on other sites More sharing options...
scottcardiff Posted January 7, 2004 Report Share Posted January 7, 2004 I would love it if somebody would tell me, after witnessing the mkt action for the last year, given the economic and debt backdrop, why I should mnot be scared to death? You should be scared. Unless you are in debt. Then eternal bliss is yours. Link to comment Share on other sites More sharing options...
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