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DrStool

Market Nails The Targets

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I'll just assume that the guy has a drug problem.

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I could not help myself and I bought some MGN this morning because it was picking up such big volume it smells like a short squeeze.

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Well that's one less jackass we have to deal with. An ad hominem attack like the one I just deleted will get you banned every time.

589460[/snapback]

 

I left for a meeting for 10 minutes and I missed some inappropriate post?

was it at least adult oriented?

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I'll just assume that the guy has a drug problem.

589461[/snapback]

 

No such thing, man.

post-2169-1183762986_thumb.jpg

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Gimme my money, I wanna git out!

 

$300 Million Liar Loan Fund Liquidation

 

Heavy redemptions from investors concerned about their holdings of subprime mrotgouge securities claimed Braddock Financial Corp.'s Galena Street Fund as the latest hedge fund victim.

 

The fund's closure comes just days after United Capital Markets Holdings Inc. suspended redemptions on its funds exposed to the risky subprime mrotgouges.

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"Investors stepped up redemptions after the Galena fund posted a loss of about 3 percent in the first quarter, following gains of 7 percent in 2006, he said. The fund had bets that benefited on both gains and losses in the subprime mortgage market, he said."

 

I think most stoolies could have beaten this performance. In a money market

fund.

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as much as stuff like this doesn't mean much to the markets,it would suck bigtime to be part of a two tiered economy and be on the wrong tier... <_< <_<

 

Rates of insolvency on the increase

 

 

AUSTRALIANS are sinking into insolvency at the fastest rate on record.

 

In figures released yesterday, the Insolvency and Trustee Service Australia reported 31,964 personal insolvencies across the nation in the 2006-2007 financial year, up almost 17 per cent from the previous year.

 

http://www.theage.com.au/news/national/rat...3351460466.html

 

PS Kudos to the gold bulls,it must be bloody hard to stay the course with all the shit 'they' throw at you. B) B)

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mmoy-

 

I was young and immature. :).

 

In both cases I was trying to attract attention to a new service that I was trying to market. I hate marketing, and doing what I did made me extremely uncomfortable. I hate calling attention to my calls. I'm a lousy marketer, because it makes me very uncomfortable to tout my own work. If you compare the WSE Pro to those of other newsletter writers, I think I do relatively little "table pounding" so to speak. I've been taught that you have to do it. Well, I tried it, I didn't like it, and it didn't work anyway.

 

You will note that in the second example I plainly stated that I was wrong in my opinion. I ate crow.  And I doubt that anyone subscribed to the Professional Edition because I pounded the table about the homebuilders.

 

So I stand completely by the feelings I expressed. What I did with my own "table pounding" was  out of character, and it made me terribly uncomfortable.

 

On the whole, I've done a good job, I think, and that's all the table pounding I'm willing to do.  I see my job as trying to help people understand and think clearly about the markets.

 

When people are "right for the wrong reasons" that's luck, and eventually it will fail them. When people are right for good reasons, but are expressing other reasons that are illogical and have no basis in fact, that's just confused thinking, and it can be misleading to inexperienced readers. As the proprietor of this business I have an obligation to point that out when I see it. If someone persists in behaving in a certain way after the error has been explained, then there's a problem there.

 

I also find it not helpful when people call attention to their victories after the fact, without explaining how we can learn or profit from the experience. It seems that we hear most from these people on up days, but very little on down days. It's especially notable when someone does that after criticizing others for doing it.

 

Anyway, I'm not perfect, and neither is anybody else on this board. So, we live and let live and do the best we can to make this board the best it can be, and hope that in the end, integrity and intellectual honesty will carry the day.

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I'm happy that the auctions are gone.

 

I've watched Mark for several years before he came over here and I'd have

to say that he bounces back from setbacks. Is it luck or is he using tools

that work? If he manages it well in the long run, does it matter? He really

only has to be right somewhat more than half the time.

 

I've found that I can generally follow Mark and two other traders on another

board that generally do quite well. I can take their calls, or chart posts if they

aren't clear calls, and make money with them. Of course I add my own mix of analysis to what they are saying. When Windy has the backing of Shtinker. that's a plus in my book. Shtinker bailed out in early 2000 and then dove and has been 100% long since Fall 2003. His main disaster was in the fall of 2000 when he suggested buying the QQQQs after which they fell 50%. But my technicals said that he was wrong on the QQQQs and I did not participate in those. I credit Richard Hahn with helping me get out as well; he's a permabear and it may have just been lucky that I ran into him in 2000.

 

Mr. Shtinker doesn't provide a lot of details on his proprietary indicators. He's basically a black-box.

 

As far as boards go and learning how to use the posts and calls of others for your own benefit, that's something that everyone has to work out for themselves. A great call can still be a loser for a particular trader if they don't use some kind of methodology on entrance or exit or if they are working in a different time frame.

 

So in a quest for personal optimization, I look for the recommendations of others that help me to optimize the way in which I trade. If I can't make money off of someone then I will tend to ignore their trading advice. Of course I may listen to other things that they have to say. There are many here that make great calls that look great at the time that they make them. A lot of them go by the wayside for me because I don't know the person well enough or I just plain forget - old age and juggling kids and work can do that.

 

The ultimate personal indicator is our trading account balance and our annual returns. Windy has been pretty clear on LTBH on the S&P 500. And his commodity stocks. And New Century.

 

Are there a lot of other people that have difficulty understanding the calls or

charts that Mark posts? I imagine there are plenty of posters that ignore his postings because they can't make money on his calls. That seems efficient to

me. That's generally what I do at the boards that I visit.

 

On the giving back side, I try to add value with my knowledge about certain

industries. Is it useful? I hope it is to at least some.

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They obviously didn't show the investor documentary 'Glen,Garry,Glen Ross' before these investment seminars... <_< <_<

 

20,000 victims: Who's next?

Author: John Collett

Date: June 27, 2007

 

As losses approach $1 billion, investors want to know why their deposits weren't safeguarded. By John Collett.

 

The collapse of property developers Westpoint, Fincorp and Australian Capital Reserve proves that disclosure, warnings and investor education are not enough to adequately protect investors.

 

That much is clear after three collapses in 18 months that have cost 20,000 people up to $1 billion. Many of these investors have lost their retirement savings and many will have to sell their homes.

 

Westpoint, Fincorp and Australian Capital Reserve (ACR) were companies that raised funds from the public through unsecured debentures or notes and then used the money to fund its own property projects.

 

While the message is starting to get through to the authorities that more has to be done, more investors are likely to lose their savings before the property bust is finished, says Bill Moss, the former head of property at Macquarie Bank.

 

Moss, who was in the property game for 30 years, says we are witnessing a "classic meltdown". He has been sounding the alarm bells for three years on the risks of higher-yielding property investments.

 

http://www.domain.com.au/Public/Article.as...whosnext:020707

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The main reason why the gold shares are going ape-shit now...

 

Global Gold Bottoming out. Shares leading the Metal into a renewed uptrend?

 

Without a Doubt...

 

http://www.zealllc.com/2007/glogold3.htm

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If you traded based on the advice from Zeal (Adam Hamilton) over the past few years, you would be standing in a bread line today.

589455[/snapback]

 

Why? Is he recommending going long bread ? :lol: :lol:

589457[/snapback]

 

I used to read Hamilton back in 2000-2003 and he was a pretty entertaining guy. Quite often write too. But he was in in the early stages of a bull market.

I stopped reading him after a while as I had the feeling that he was trying to push the limits of what he was doing and the limits pushed back at him pretty hard. Gold-Eagle, Kitco, etc. - used to be pretty hot places for goldbugs.

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They obviously didn't show the investor documentary 'Glen,Garry,Glen Ross' before these investment seminars... <_<  <_<

 

20,000 victims: Who's next?

Author: John Collett

Date: June 27, 2007

 

As losses approach $1 billion, investors want to know why their deposits weren't safeguarded. By John Collett.

 

The collapse of property developers Westpoint, Fincorp and Australian Capital Reserve proves that disclosure, warnings and investor education are not enough to adequately protect investors.

 

That much is clear after three collapses in 18 months that have cost 20,000 people up to $1 billion. Many of these investors have lost their retirement savings and many will have to sell their homes.

 

Westpoint, Fincorp and Australian Capital Reserve (ACR) were companies that raised funds from the public through unsecured debentures or notes and then used the money to fund its own property projects.

 

While the message is starting to get through to the authorities that more has to be done, more investors are likely to lose their savings before the property bust is finished, says Bill Moss, the former head of property at Macquarie Bank.

 

Moss, who was in the property game for 30 years, says we are witnessing a "classic meltdown". He has been sounding the alarm bells for three years on the risks of higher-yielding property investments.

 

http://www.domain.com.au/Public/Article.as...whosnext:020707

589469[/snapback]

 

That works out to only about $50K per investor, right? Were investors really planning to live off the earnings of $50K? This got my attention as we have investments down there where I don't know what the actual investments are (huh?). But the article said that they are sold to the public which has me less concerned.

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Doc,

 

This is much more than a snippet,but it is free from the Daily Reckoning site.

 

If it needs a snippet and a link,I think its just www.dailyreckoning.com

 

Anyway its a great article for people like us,especially 'watch your wallets' and 'top of the stairs'

 

 

*** Meanwhile, a dear reader writes:

 

"Hello, it is I again, Suzanne, the formerly twentysomething M.D. in Manhattan who engaged in some economic badinage with Bill some years ago.

I am no longer in my 20s (sigh, what happens to fair youth), but I am still waiting for this great financial reckoning day that Bill has talked of endlessly since 1999.

 

"Recently, he wrote: 'But when dim rock singers get into a trend, dear reader, you have to wonder if it isn't already a little late in the day.'

 

"Bill, you have been saying it's 'already a little late in the day' for almost ten years now, and still, no dice. Sure, there was a minor correction in 2000, and it lasted a few years, giving you some hope that finally the doomsday scenario you've been praying for for decades would come to fruition, but alas, your hopes have been dashed by this latest bullish run.

 

"Perhaps 40 or 50 years from now, when you are pushing up petunias and serving as fodder for night crawlers, the world markets will come crashing down, the dollar will collapse, and the Asians will come round to Uncle Sam demanding gold for their greenbacks; on that day, I'll say, 'Old Bill!

He was a prophet! Everything he predicted, 'twas true!'

 

"Till then, you're just a repetitive old windbag.

 

"And I'm just a thirtysomething doctor in New York, not as pretty as she used to be, trying to make sense of things."

 

*** If we had our druthers, we might well prefer to be even a little-less pretty 30-something doctor in the Big Apple to being a 50-something windbag in London. But that is our sad lot in life...to repeat warnings, over and over again...and to grow older.

 

We sit at our post like a skull on the desk of a Renaissance scholar... a Memento Mori - yes, dear reader, there is death too, even in paradise...and yes...there are busts as well as booms...and yes, for ever silver lining, there is a cloud.

 

Why do we bother? Why not just knock it off? Why not just pull down our Crash Alert flag and admit that we don't know when or how things will turn out?

 

Well, because we do know. No one is born of woman who doesn't end in dust.

And no bubble ever fails to find its pin. But when a man is young...and a bubble expands...who wants to focus on the downside? Not only is it no fun for most people, there is no profit in it either.

 

Only lonely relics...moral philosophers stuck in an immoral age...perma-bears in a perma-bull market... cranks and curmudgeons can bear to think about it.

 

Every day is a day of reckoning for us. But at least we enjoy them all.

Vanity, pretense, hallucinations, dreams of grandeur and world improvement

- it is all like cups of espresso to us...they open our eyes and make our pulse beat happily.

 

And if we take down our 'Crash Alert,' will you be better off, dear reader? Will you really be happier, more prosperous, and wiser without the irritating reminder that 'this too shall pass' flapping in the wind over your head? We don't think so. Death, destruction, and desperation stalk us all. They do not come right out in the open and threaten. Instead, they hide in the shadows and behind trees, and dress up in alluring costumes - as stockbrokers and presidents, expert anal cysts and celebrity authors.

 

Is it really a waste of time when someone whispers to you - "watch your wallet?"

 

As for the dollar...well...it has lost about 20% of its purchasing power in the eight years we've been writing The Daily Reckoning, while our favorite metal, gold, has gone up 170%. Our dear reader thinks paper dollars will still be valuable 40 or 50 years from now; and maybe she is right. Who knows? Maybe the S&P will keep going up too. And by then, those of us who are still living will all be rich - running our own hedge funds...and doing private equity deals with each other.

 

*** Finally, we went out to dinner last night - husband and wife, out on the town in London.

 

"Yes, everything is changing for me," Elizabeth took up the conversation.

 

 

"Now that the children are growing up, I need to find something to do with myself...without changing things so radically that our whole lives are turned upside down.

 

" I think what happens to many couples is that they are so busy with careers and children during the first 20 years of their marriages that they just don't have time to think about themselves...and each other. It is as if they were climbing a long set of stairs...climbing together...carrying children...strollers...clothes...bags... You've seen these poor families going through airports with so much stuff...we did it ourselves when the children were young. And then, one day they get to the top of the stairs...and the children leave...and they look around...

 

"We know about four or five couples who have decided to split up. That's what I think it is...they look around at the top of the stairs and decide they just don't have much in common...or that they'd rather go off in a different direction. Some are bored. Some feel oppressed. Others just think they will get a better deal elsewhere.

 

"This really does seem like a new stage in our lives...a dangerous stage in many ways. But isn't it great when people can arrive at the top of the stairs and find that they actually like each other? And then they have time to enjoy each other's company...and to do something together. That's why you see so many middle-aged couples holding hands, I think. After all those years of climbing stairs, they can now appreciate being together...and traveling...dining...all those things that the Hallmark cards promise..."

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I'm issuing a table-pounding BUY on one of my favorite dogs. :D

 

Yeah, I know, it'll probably fail at the 200. :(

post-2457-1183768001_thumb.png

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They obviously didn't show the investor documentary 'Glen,Garry,Glen Ross' before these investment seminars... <_<  <_<

 

20,000 victims: Who's next?

Author: John Collett

Date: June 27, 2007

 

As losses approach $1 billion, investors want to know why their deposits weren't safeguarded. By John Collett.

 

The collapse of property developers Westpoint, Fincorp and Australian Capital Reserve proves that disclosure, warnings and investor education are not enough to adequately protect investors.

 

That much is clear after three collapses in 18 months that have cost 20,000 people up to $1 billion. Many of these investors have lost their retirement savings and many will have to sell their homes.

 

Westpoint, Fincorp and Australian Capital Reserve (ACR) were companies that raised funds from the public through unsecured debentures or notes and then used the money to fund its own property projects.

 

While the message is starting to get through to the authorities that more has to be done, more investors are likely to lose their savings before the property bust is finished, says Bill Moss, the former head of property at Macquarie Bank.

 

Moss, who was in the property game for 30 years, says we are witnessing a "classic meltdown". He has been sounding the alarm bells for three years on the risks of higher-yielding property investments.

 

http://www.domain.com.au/Public/Article.as...whosnext:020707

589469[/snapback]

 

Pretty sick story.

 

These companies were Ponzi operators intentionally preying on the old and infirm.

 

The story mentioned that Fincorp was spending a quarter of its revenue on advertising to drum up more suckers (er, investors). They focused their ad spending on daytime TV when they knew they would be reaching oldsters and shut-ins and so forth.

 

Anecdotally, these firms appear to be as crooked as the day is long. Sure, the folks who put up their money should have done more due diligence. But these outfits intentionally targeted the least-able in the society.

 

Hopefully, Oz authorities won't go the U.S. route. The principals of these firms should be hung from a tree at the center of town.

 

Here in the U.S., unfortunately, they would be monkey-trialled, pardoned, given the CONgressional Medal of Honor, then awarded ambASSadorships to Bermuda and the Maldive Islands.

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They obviously didn't show the investor documentary 'Glen,Garry,Glen Ross' before these investment seminars... <_<  <_<

 

20,000 victims: Who's next?

Author: John Collett

Date: June 27, 2007

 

As losses approach $1 billion, investors want to know why their deposits weren't safeguarded. By John Collett.

 

The collapse of property developers Westpoint, Fincorp and Australian Capital Reserve proves that disclosure, warnings and investor education are not enough to adequately protect investors.

 

That much is clear after three collapses in 18 months that have cost 20,000 people up to $1 billion. Many of these investors have lost their retirement savings and many will have to sell their homes.

 

Westpoint, Fincorp and Australian Capital Reserve (ACR) were companies that raised funds from the public through unsecured debentures or notes and then used the money to fund its own property projects.

 

While the message is starting to get through to the authorities that more has to be done, more investors are likely to lose their savings before the property bust is finished, says Bill Moss, the former head of property at Macquarie Bank.

 

Moss, who was in the property game for 30 years, says we are witnessing a "classic meltdown". He has been sounding the alarm bells for three years on the risks of higher-yielding property investments.

 

http://www.domain.com.au/Public/Article.as...whosnext:020707

589469[/snapback]

 

Pretty sick story.

 

These companies were Ponzi operators intentionally preying on the old and infirm.

 

The story mentioned that Fincorp was spending a quarter of its revenue on advertising to drum up more suckers (er, investors). They focused their ad spending on daytime TV when they knew they would be reaching oldsters and shut-ins and so forth.

 

Anecdotally, these firms appear to be as crooked as the day is long. Sure, the folks who put up their money should have done more due diligence. But these outfits intentionally targeted the least-able in the society.

 

Hopefully, Oz authorities won't go the U.S. route. The principals of these firms should be hung from a tree at the center of town.

 

Here in the U.S., unfortunately, they would be monkey-trialled, pardoned, given the CONgressional Medal of Honor, then awarded ambASSadorships to Bermuda and the Maldive Islands.

589474[/snapback]

 

And pardoned.

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