wndysrf Posted October 26, 2004 Report Share Posted October 26, 2004 Once again, credit market dislocation is averted with some back room dealmakings and Fed Bullhorning. Greenberg is cast out of MMC, and all is forgiven. Now a Matrix Agent from Kroll has been installed to "restore confidence". Spitzer has obtained full mileage on this score, without even sending anyone to jail. So now he's off to chase down the next scandal. How easy is that??? Next up, Ferguson at the Fed bullhorns some happy talk about the economy. And when stocks fail to go down on a bad Consumer Confidence Index, then its "the lows are in!!!" siren song, and its off to the races. The 9000 HedgeFunds have seen this play out many times, so anything and everything credit related is immediately bought. Of course, the stocks on the farthest end of the credit curve with the highest risks make the biggest moves. HGX, RLX, Subprimes, Insurance companies, etc. are all bought with a vengeance as the Fed once again backstops all miscues, mistakes, blunders, and bad bets made by the participants in the Derivatives Colossus. An example is First Marblehead (FMD), trashed in the WSJ the other day for possible bogus accounting of student loan securitizations. It got slammed yesterday, but then a co-ordinated attack on the short sellers was instituted with a Tout House Upgrade. Of course, this is an IBD favorite, a "must own" stock for the month end statement print, since it has a perfect chart pattern. So all the Fumble Managers bought today, sending it up 6.5% on the session. Today was a typical slow stairstep march upward, with multiple "high anxiety consolidations", where the Momentum Shops are unable to determine if the break is going to be up or down. Various key indexes like the SOX, held in a straightjacket all day. Nobody knows if its going to fall over a cliff or do one of those Booster Rocket Moves northbound. Altogether, another frustrating day for the bears. soup was on the rampage today, and he pretty much sums it up the best........... Once again the reckless debt laden conspicious consumers get bailed out. All bailouts all the time, no reckless actions will be held accountable. It's, after all, for the greater good. COF is one of the fund boyz favorites. Needs to be "sponsored " for year end. No different than the pools of the '20s The all "important shopping season is going to be a huge bust. The consumer is tapped out, regardless of how the shills spin the situation, consumption will be way down. The dance is over and the music has stopped. It can certainly be argued that we should have seen the deflation in housing and stocks by now. Perhaps the statists will overcome all natural laws and this time will be truly different? This is fido trying desperately to save the year, with an assist from statist Alfie. Hell hath no fury like a large mutual fraud mgr that is underperforming. Usual month end mark up bullshit, this month's target the HGX. These guys always seem to pile in right near the top, and ride them right down. Tell me again how these guys attract assets? Forget the election, this is all about trying to stem the redemptions at fido et al. These morons could not manage assets ( see MRK,MMC, AIG etc.) if they did not form pools. The mutual fraud mark ups/ pools and the corporate option scams, imo, are the crimes of the century. It is so obvious that the fed/govt/ big corps are out of tricks, and have to resort to words. So hard to fathom that all this bullhorning gets taken at face value? If they had any real bullets, or if they were not scared to death, they would do something other than talk. Remember the old saying, talk is cheap? The TICK blasts are further evidence that the pools are colluding. Been a shitty year for most of the big funds, they sure as hell will fight off redemptions with everything they have with a healthy assist from the Fed. Perhaps the Fed will remain the buyer of last resort in stocks. After all they have fuc**ed up everything they have touched, and created such utter disaster, they might just throw the Hail Mary rather than get blamed for their gross crimes and incompotence. Other than very, very short term, ( such as bailing out the large fund complex at year end) "they" are powerless to stop anything. They can ride, but they cannot hide. The natural laws of economics will not be thwarted. ............................................... Below is a chart of Altera, one of the favorite High Beta Soap Queens. Nobody know if its going to get shanked on the open tomorrow, or gap up and take off....... As usual, 9000 HedgeFunds are sent home today with high blood pressure, high anxiety, raw nerves, and in desperate need for a Wild Turkey and a Russian Call Girl. Link to comment Share on other sites More sharing options...
machinehead Posted October 26, 2004 Report Share Posted October 26, 2004 The CRB index of 17 commodities is back at a 23-year high. Gold is only a few dollars below the $433 breakout level. The cash dollah index clawed its way back above 85 today. But the dollah collapse story isn't over. Trouble could return for the dollah at any time ... certainly by mid-next week after the botched election. There are reports of two thousand (2,000) Democratic lawyers deployed in Florida alone. The system won't withstand that level of scrutiny. Prepare for meltdown ... Link to comment Share on other sites More sharing options...
soup Posted October 26, 2004 Report Share Posted October 26, 2004 WTF does Spitzer go after Fido? WTF is the SEC? And they throw someone in jail for smoking a joint? WTF happened to this world? Link to comment Share on other sites More sharing options...
Mars Posted October 26, 2004 Report Share Posted October 26, 2004 The CRB index of 17 commodities is back at a 23-year high. Gold is only a few dollars below the $433 breakout level. The cash dollah index clawed its way back above 85 today. But the dollah collapse story isn't over. Trouble could return for the dollah at any time ... certainly by mid-next week after the botched election. There are reports of two thousand (2,000) Democratic lawyers deployed in Florida alone. The system won't withstand that level of scrutiny. Prepare for meltdown ... And I heard that the Republicans have already hired over 1600 lawyers and have them posted to every troublesome county in the nation. This is going to be a joy to behold - I think it is a wonderful time to be alive - don't you? Link to comment Share on other sites More sharing options...
An Ant Posted October 26, 2004 Report Share Posted October 26, 2004 MSTR up 12% AH Link to comment Share on other sites More sharing options...
DrStool Posted October 26, 2004 Report Share Posted October 26, 2004 wnydy's post is today's Post of the Day. I have been selecting one or two Posts of the Day each day and posted them to the Stool head page. I want to make our home page the antidote to Crapvision, SeeBS.Markethype, Bullberg, Moneyhype, and all the other crap people get bombarded with every day. Please send and repost links to our home page everywhere you can. It's http://www.capitalstool.com, and it's a matter of the very survival of beardom. Don't let Doc become another Puetz! Spread the Stool! Keep truth alive! Keep reality alive! Keep the Stool alive. Tanks to all for your most excellent contributions and for your support! Link to comment Share on other sites More sharing options...
BeerMarket Posted October 26, 2004 Report Share Posted October 26, 2004 was listening to the new CEO of MMC on boomberg today, he said that until Spitzer's statements today, the company had the sword of Damocles hanging over their head, but now it had been lowered. Link to comment Share on other sites More sharing options...
wndysrf Posted October 26, 2004 Author Report Share Posted October 26, 2004 2000 Cult Stock Microstrategy gapping up huge AH...... Why this stock still has a following after personal daytrader fortunes were destroyed by this screamer gapping down over 1000 points (reverse split adjusted) in 2000 is beyond me.............. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted October 26, 2004 Report Share Posted October 26, 2004 The CRB index of 17 commodities is back at a 23-year high. Gold is only a few dollars below the $433 breakout level. The cash dollah index clawed its way back above 85 today. But the dollah collapse story isn't over. Trouble could return for the dollah at any time ... certainly by mid-next week after the botched election. There are reports of two thousand (2,000) Democratic lawyers deployed in Florida alone. The system won't withstand that level of scrutiny. Prepare for meltdown ... This is the paper pushers last hurrah I would guess their sleeping pills are being consumed at an ever increasing pace as gold flirts with a huge area of support. You can just hear the thrusters kicking in. The metals see truth and nothing in the world is going to stop them now. I wonder why I even bother with the stock market when there are so many easier ways to win the battle. The market has become an exercise in self torture where if... as a bear... you escape flat on the day it is a victory. Meanwhile commodities and currencies have been acting much more rationally and offer trading returns that have made this a year for me to remember. I am developing a hatred towards the stock market. Lies piled on top of lies sanctioned by the fed, administration and media circus. Will it ever face reality. I am starting to wonder. Mark pointed out beautifully what they were buying. As a result my put portfolio took a bath. All in one stupid days work for the blind, idiotic, reckless, brainless, delta chasing, hedge hogs and mms. Why is it the ones who do the least due diligence and research end up making all the coin.??? Makes me want to !~@#$%^&*() Link to comment Share on other sites More sharing options...
bigsky Posted October 26, 2004 Report Share Posted October 26, 2004 NILE down $4 AH Link to comment Share on other sites More sharing options...
dingleberry Posted October 26, 2004 Report Share Posted October 26, 2004 a little more Ichimoku Kinko..bad chart yesterday..called exact top in s&p today still at resistance.. Link to comment Share on other sites More sharing options...
bigsky Posted October 26, 2004 Report Share Posted October 26, 2004 MSTR... The McLean, Virginia-based company posted third quarter net income of $122 million, or $7.22 per share, compared with a net loss of $24.4 million, or $1.59 per share, a year earlier when the company took nearly $30 million in charges. The company's third quarter profit was boosted by a non-cash income tax benefit of $103.6 million. so were earnings really that good?? Link to comment Share on other sites More sharing options...
soup Posted October 26, 2004 Report Share Posted October 26, 2004 LLD: You didn't think fido was going to be responsible for their shitty asset mgmt skills? Of course not, they are too big to fail, so whatever the freaking cost they will be bailed out. The fed is scared to death about massive redemtions, and they should be. Let the redemptions commence! Link to comment Share on other sites More sharing options...
BeerMarket Posted October 26, 2004 Report Share Posted October 26, 2004 amazing how quickly semi profits turn to losses. RFMD reports losses this Q, expects more next. ZRAN warns again, down another 20% ah! on the "bright" side FFIV beats and raises guidance. but as expected, they've run out of tax benefits, and with a projected 4-8% sequential increase in sales (typical seasonality at best) they'll make about .20 next qtr. If you want to own that kind of earnings / growth you'll now have to pay around 40 times earnings and almost 6 times sales. Link to comment Share on other sites More sharing options...
bigsky Posted October 26, 2004 Report Share Posted October 26, 2004 not mention guidance is 10 miles wide, very low on the low end for next quarter, I wonder how that will go down once people read between the BS Approximate Ranges (in millions, except for Q4 2004 Range Full Year 2005 Range per share data) Revenue $47.7 - $57.4 $211.1 - $251.6 Net income $6.7 - $13.6 $32.4 - $48.1 GAAP diluted earnings per share $0.39 - $0.79 $1.87 - $2.74 Link to comment Share on other sites More sharing options...
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