Ags Nightmare Posted September 3, 2004 Report Share Posted September 3, 2004 As we conclude our "Pomp and Dump" week on thin volume and head into one of our typical long three day "Poodit Brainwashing Weekends", I thought I'd revisit one of, ( what I perceived at the time and still do today), "the" most shameless day of "market poodit talk" in history...I only wish I had taped this and showed it to my kid when they got old enough so I could teach them right from wrong..... The story... I recall sitting in my office Labor Day 2000 and watching crapvision wheel out guest after guest..."fumble managers of the year"...."experts"....all of them were there for the full day to answer questions being "called in" from the "sheep on the street"... The callers ranged from "investment club guru's", to "soccer mom's", to "day trading dad's", to "student stock pickers", to cow chip picking "stock pickers"... (I remember during the mania's insanity, Power lunch actually did a special where some guy claimed his cow could pick stocks by sheeting on pieces of paper and never lost.... the guy would lay paper on the ground behind the evacuation area with numbers and symbols, patiently waiting for the cow to blast a load in a random direction...which ever piece of paper the "steaming heap" hit, that became the "hot pick".... supposedly the guy traded the symbol of wherever the poop landed with unprecedented success...) Anyway...The Labor Day 2000 crapvision bullfest started becoming so bizarre I started taking notes....at the time, I was in the process of hopefully writing a book on the insanity that was going on but eventually everything fizzled out and I gave up.... So I figure I may as well share some really stunning stuff...In hindsight it's incredible to look back on this today and think we actually were there four short years ago.... So here is my notes from that day....and as you will see I compared them to April 11, 2001...no particular reason I chose that date other than I thought I might have an ending for a book but that was right around when I gave up...little did I know it would take two more years to bottom.... Why Labor Day 2000 ? To me, this particular day topped em all off...It is my Number One "Poodit Walk of Shame" day and maybe crapvisions low point....I was sitting in front of the tube in awe and started scribbling notes as it became more bizzare....so here's a flashback of what I would consider the most irresponible anal cyst day I witnessed in the mania...no other holiday bullfest came even remotely close to this.... Below was the descriptive text of what I wrote in my mania "diary".... During a typical Crapvision bull bash as all of the top technology experts were hawking their wears and taking viewer phone calls. I tracked the performance of their specific stocks mentioned for the next several months to see how things would end up. The majority of comments from the experts this particular special were ? It?s only the first inning?, ?we are in it for the long haul?, and ?you have to be in this space?. The most memorable moment came when a women caller who owned Corning Glassware had asked since the stock ran up so much would it be wise to sell some, and was told it?s just the start. At the time Corning was trading at $ 340 dollars per share just prior to its three for one split. I don?t recall why of all days I chose to take notes on this one but here is the summary of the best anal cysts were saying Labor Day 2000 along with their recos and comments: Kevin Slohand Twitt Soundingboard Currently Buy and Hold Picks CIEN Labor Day Price -115 PE 535 April 11, 2001 price-56 Irresponisble Copout..."You are in it for the long haul" FNSR Labor Day Price- 46 PE-1150 April 11, 2001 Price-12.21 GLW Labor Day Price-113 PE- 173 April 11, 2001 price- 23.95 Stevie Ray Sigmund Freud from...Dan Raushaq Test Picks VRSN Labor Day Price-185 15/16 Pe- None April 11, 2001 price-44.95 Irresponsible comment Next Microsoft is Verisign ARBA Labor Day Price- 166 ? PE-None April 11, 2001 Price-6.24 Irresponsible Comment Buy the B2B stocks Huge Upside WEBM Labor Day Price-112 3/8 PE-None April 11, 2001 Price- 26.45 Franklin Burger King MSDW30 Picks DNA Labor Day Price-191 5/16 PE-None April 11, 2001 Price- 45.65 Irresponsible Comment Don?t worry about valuations ALXN Labor Day Price- 101 1/8 PE-None April 11, 2001 Price- 24.19 ALXS Labor Day Price-48 5/8 PE-None April 11, 2001 Price 26.10 CELG Labor Day Price-74 ? PE-None April 11, 2001 Price-19.52 LEXG Lab0r Day Price -37 3/8 PE-None April 11, 2001-8.46 Dave McFlea fumble manager of the year ( never heard of him) Picks EMC Labor Day Price-97 PE-115 April 11, 2001 Price- 31.26 SANM Labor Day Price-107 PE-105 April 11, 2001 Price24.33 BRCD Labor Day Price-112 3/8 PE-None April 11, 2001 Price -25.72 ...and special guest.... Bold Predicition Jeff Applesauce S&P 500 1600 By Jan 1 2001 amazing..and they all still have jobs... and check out some of the prices "now"..... And these people still return as "expert" guests...as if nothing happened... Enjoy your long weekend and stay safe Floridians...look forward to having Wndy back next week.. Ag Link to comment Share on other sites More sharing options...
machinehead Posted September 3, 2004 Report Share Posted September 3, 2004 The SOX closed at a new 12-month low. Let's declare victory and go home. Link to comment Share on other sites More sharing options...
stanley Posted September 3, 2004 Report Share Posted September 3, 2004 As we conclude our "Pomp and Dump" week on thin volume and head into one of our typical long three day "Poodit Brainwashing Weekends", I thought I'd revisit one of, ( what I perceived at the time and still do today), "the" most shameless day of "market poodit talk" in history...I only wish I had taped this and showed it to my kid when they got old enough so I could teach them right from wrong..... The story... I recall sitting in my office Labor Day 2000 and watching crapvision ..... Ag Ag, On 1-Sep-2000 Nutsduck opens... 4,252.15 intraday high.... 4,259.87 intraday low..... 4,192.89 close............ 4,234.33 (body 24, tail 42, a hanging man candlestick pattern) It marks the end of the summer, 4.2K, twin peaks rally, post labor day, 2000, Nutsduck starts land slide, at the end of 2000, Nutsduck dive below the forbiden horizon, the 3000 Mark. No way to see "2000" again,.... Link to comment Share on other sites More sharing options...
machinehead Posted September 3, 2004 Report Share Posted September 3, 2004 (I remember during the mania's insanity, Power lunch actually did a special where some guy claimed his cow could pick stocks by sheeting on pieces of paper and never lost.... the guy would lay paper on the ground behind the evacuation area with numbers and symbols, patiently waiting for the cow to blast a load in a random direction...which ever piece of paper the "steaming heap" hit, that became the "hot pick".... supposedly the guy traded the symbol of wherever the poop landed with unprecedented success...) Oh yeah ... they filmed that one in front of the Merrill Lynch building ... "Damn, Bob, my tout sheets just blew away" Link to comment Share on other sites More sharing options...
Guest Posted September 3, 2004 Report Share Posted September 3, 2004 EFII shanked a second time in two months for another 20%. Any TA guesses on where this one heads to next? CEO sent out an email this morning saying the company will miss revenue Q3 forecasts by about 10 million, and Q4 for roughly the same. Link to comment Share on other sites More sharing options...
BeerMarket Posted September 3, 2004 Report Share Posted September 3, 2004 be sure to tank your Congressman: Continental Airlines Elects Deficit Reduction Contribution Relief HOUSTON, Sept. 3 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE: CAL - News) today announced it will use the deficit reduction contribution relief (DRC) provided under the Pension Funding Equity Act of 2004. This difficult decision was made given the continuing uncertainty of the economic environment for airlines and the record high cost of jet fuel. With DRC relief, the airline is not required to make any contributions to its pension plan this year, and thus will not do so. I wonder if I can elect deficit reduction contribution relief come tax time. "Pension Funding Equity Act" - part of the no billionaire left behind programs. great opening Ags, tanks for sharing. Link to comment Share on other sites More sharing options...
Guest Posted September 3, 2004 Report Share Posted September 3, 2004 Intel Roller Coaster. Link to comment Share on other sites More sharing options...
Bearman Posted September 3, 2004 Report Share Posted September 3, 2004 AG tanks for the reminder we only just begun Fran http://www.ssd.noaa.gov/PS/TROP/DATA/RT/float-ir4-loop.html Link to comment Share on other sites More sharing options...
beardrech Posted September 3, 2004 Report Share Posted September 3, 2004 be sure to tank your Congressman:Continental Airlines Elects Deficit Reduction Contribution Relief HOUSTON, Sept. 3 /PRNewswire-FirstCall/ -- Continental Airlines (NYSE: CAL - News) today announced it will use the deficit reduction contribution relief (DRC) provided under the Pension Funding Equity Act of 2004. This difficult decision was made given the continuing uncertainty of the economic environment for airlines and the record high cost of jet fuel. With DRC relief, the airline is not required to make any contributions to its pension plan this year, and thus will not do so. I wonder if I can elect deficit reduction contribution relief come tax time. "Pension Funding Equity Act" - part of the no billionaire left behind programs. great opening Ags, tanks for sharing. Has anyone attempted and succeeded in finding a narrative or scenario envisioning the governments response as the "too big to fail" sectors begin falling either one by one domunoe fashion, or in one fell tsunami sized disater??? Is their a quantitative guesstimate as to the spectrum of fed costs corressponding to the spectrum pf collapsing sectors-- I know a posteriori that the Feds have such a plan--but i'm sure it isn't widely avalable--- Is there a plan for issuing got credit cards in lieu of tissufied confetti??? Will this digitised fiat save the day in terms of survival--how will this relate to evaluating real assets like re and gold etc???? What could become the INSTRUMENTS OF SURVIVAL----??? BEARDRECH---i AM CURRENTLY reading newspaper headlines from 1800 bc to 1000bc inclusive :My favorite:---Rescue Me,Protect me,//Do not accuse me before the freat god!!! I am pure of mouth ,pure of hands--------(Book of the dead ) by the way I swear on scouts honor that I'm not as rottena speller as the above indicates; I have a mystery keyboard:I strike a key and a half hour later a missing letter either shows up in the wrong place or drops out--Its a gateway special Link to comment Share on other sites More sharing options...
Grand Poopercycle Posted September 3, 2004 Report Share Posted September 3, 2004 Well, I'm awake. Inhell down nearly 75% from Labor Day '00.Remember that weekend well. Finished double-top for Dowager and Ass'n Pee-Helltrain pulled out of the station next Tuesday and still hasn't returned. Four years back. Four years? Why does that sound familiar? Ah, Four years. Get that Dax down on Monday, Fox. Link to comment Share on other sites More sharing options...
Slothrop Posted September 3, 2004 Report Share Posted September 3, 2004 MDPorter: thanks for the tip on EFII. My best performing short this week has been FCS...only slightly outdone by the SMH short. Link to comment Share on other sites More sharing options...
Guest Posted September 3, 2004 Report Share Posted September 3, 2004 Inhell longer-term view. Buy'N'Hold. Link to comment Share on other sites More sharing options...
tpark Posted September 3, 2004 Report Share Posted September 3, 2004 Well, that was an interesting week. I wonder how long they can pump up the markets when they want to? Link to comment Share on other sites More sharing options...
FauxCaster Posted September 4, 2004 Report Share Posted September 4, 2004 Crapvision is running a Dennis Miller marathon Labor Day. I'm sure this will worry contrarians everywhere. Link to comment Share on other sites More sharing options...
anotherone Posted September 4, 2004 Report Share Posted September 4, 2004 Intel Roller Coaster. I guess that's why the chips used to be (pre-hype) called cyclicals. Link to comment Share on other sites More sharing options...
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