wndysrf Posted August 29, 2003 Report Share Posted August 29, 2003 Greenspan rejects rules for monetary policy by Rex Nutting WASHINGTON (CBS.MW) -- "Monetary policy must be run by humans not machines, Federal Reserve Chairman Alan Greenspan said Friday" Mark's Translation: "Rumors are floating around that Program Robot Buy Orders are jamming the tape at regular intervals to keep the financial market collapsing. This is untrue. The market is being supported by real humans, not machines. For example, the $76 billion in U.S. Peso Purchases the last 6 months by the Bank of Japan were trades executed by Mr. Fukui, not computers. The chronic Stick Saves in the U.S. equity markets are performed by chunky, beefy Irish specialists on the NYSE floor, not some type of computer buy program." "Greenspan rejected suggestions that the U.S. central bank ought to adopt a rules-based approach to policy." Mark's Translation: "Due to the volatile and unpredictable nature of the chaotic financial markets today, strict rules to managing this crisis are impossible. Unconventional methods cannot be limited by rules, guidelines, or normal boundaries of sanity." "Critics including Fed Gov. Ben Bernanke say the Fed's seat-of-the-pants policies are distracting and confusing to the markets. In remarks in Jackson Hole, Wyo., Greenspan said adopting strict rules could never work as well as having policymakers make subjective judgments about the best policy." Mark's Translation: "Highly leveraged financial markets are especially acute to wild gyrations based on the simple utterances of Fed personnel. Therefore a Free For All environment must be maintained to allow the Fed to perform any and all types of unusual maneuverings, at anytime, without regard to timing." "Greenspan made no comments about the current state of the U.S. economy." Mark's Translation: "Al Green has hooked up the circuit cables to Frankenstein and has given him 13 jolts. So far, he's responding well to the treatment. Predicting his lifespan beyond today is a total crap shoot. He could drop dead tomorrow, or live another 3 years. Impossible to say. Outta here for the long weekend....... Link to comment Share on other sites More sharing options...
reck Posted August 29, 2003 Report Share Posted August 29, 2003 Bush Diagnosed With Attention-To-Deficit Disorder WASHINGTON, DC?Pointing to massive war-time tax cuts, physicians from the Congressional Budget Office diagnosed President Bush with attention-to-deficit disorder Tuesday. "The president exhibits all the symptoms of ATDD: impulsiveness, restlessness, inability to focus on mounting U.S. debt likely to reach $400 billion by the year's end," Dr. Terrence Spellman said. "Failing to address his affliction could lead to serious long-term fiscal health problems for future generations of Americans." To treat the president's ATDD, Spellman prescribed Ritalin and an introductory course in high-school economics. theonion.com : Link to comment Share on other sites More sharing options...
wndysrf Posted August 29, 2003 Author Report Share Posted August 29, 2003 Economy Unchanged for the Week Link to comment Share on other sites More sharing options...
Guest Posted August 29, 2003 Report Share Posted August 29, 2003 Sold all my miners today and am looking to pick them up on a pullback. It'll be nice with a three-day-weekend. See you back here on Tuesday. Link to comment Share on other sites More sharing options...
Bird D Durr Posted August 29, 2003 Report Share Posted August 29, 2003 CHEATERS NEVER WIN...................THEY JUST ALWAYS FINISH FIRST.................... It BEARS repeating after weeks like these.......................... Link to comment Share on other sites More sharing options...
wndysrf Posted August 29, 2003 Author Report Share Posted August 29, 2003 3:51PM Top Weekly Performers: Stocks over $5 posting the largest percentage gains this week include: NVEC +67%, MTSX +62%, PFNC +61%, BGY +60%, ECHO +50%, FHRX +47%, SWBD +46%, FLML +36%, NANX +35%, MTLG +32%, IPSU +32%, CMTL +31%, EPRE +30%, NTII +30%, DCEL +30%, IVII +30%. ........................... No gold stocks in here yet. Pretty soon they will all be gold stocks. Everyone have a safe weekend...... I'm headed to the Asian Massage Parlor. Link to comment Share on other sites More sharing options...
machinehead Posted August 29, 2003 Report Share Posted August 29, 2003 Today brought new 12-month closing highs in the Nasdaq, NDX and SOX. Also, a new record high in the NYSE cumulative A/D line. The Dow Transports hit a 12-month closing high, but the Industrials fell 13 points short of giving another Dow Theory buy signal confirmation. Meanwhile, the S&P still languishes 7 points below that critical 1015 resistance. Some of the drags on the S&P include MSFT and PFE (Pfizer), both of which loom large in the cap-weighted index, but are acting sickly. If the Matrix decided to operate in usual fashion, they could jam Europe on Monday, then open the spoos above 1015 on Monday evening to blow out all the stops. It doesn't seem that likely, since Europe is usually quiet on days when the U.S. is closed. But forensic investing requires the scenario to be considered. Link to comment Share on other sites More sharing options...
mksloth Posted August 29, 2003 Report Share Posted August 29, 2003 From the Hulbert digest as reported by marketwatch - It is the seasonality timing system. It is an entirely mechanical system that uses nothing more than the calendar to determine when to be invested in stocks: Investors are advised to be invested in stocks around the turn of each month and immediately prior to exchange holidays, and to invest in a money market fund at all other times. this system has turned bullish yesterday or today and will flip next Friday. Apparently it has return 13.9% annualized over the last 20 years... Link to comment Share on other sites More sharing options...
DrStool Posted August 29, 2003 Report Share Posted August 29, 2003 Your Closing Anals Intraday are now posted. Take a subscribatory, open it and download it RIGHT NOW, along with everything else in your Anals!? Uncle Buck and the Long Bong Hit, including short and long term updated charts and price targets, is now loaded. Yields are high, and Uncle Buck is too. Take a subscribatory and get the latest whiff of the of the Long Bong Hit and Uncle Buck in the Anals RIGHT NOW! Link to comment Share on other sites More sharing options...
The End Posted August 29, 2003 Report Share Posted August 29, 2003 Mousey, XLNX hit $31. what I tell ya. No response needed. I will see ya next week. Link to comment Share on other sites More sharing options...
Guest Posted August 29, 2003 Report Share Posted August 29, 2003 Nothing like putting the fox in charge of the hen house. J.P. Morgan Chase to Run Iraq's Trade Bank, U.S. Says http://quote.bloomberg.com/apps/news?pid=1...mEyo&refer=home Link to comment Share on other sites More sharing options...
BartTheBear Posted August 29, 2003 Report Share Posted August 29, 2003 I'm going into the weekend with my trading account 100% cash. In fact I've been in cash since tuesday morning when I closed some SPX puts for a small profit. I wanted to relax over the long weekend. Will they break above 1015 on the S&P this time? That is the big question from a technical standpoint in my estimation. I'll be looking to short from the 1015 area. I'll pop in once in a while this weekend. Have a great holiday everyone! Link to comment Share on other sites More sharing options...
machinehead Posted August 29, 2003 Report Share Posted August 29, 2003 From the Hulbert digest as reported by marketwatch - this system has turned bullish yesterday or today and will flip next Friday. Apparently it has return 13.9% annualized over the last 20 years... Have you heard of the decade cycle? I checked it for the hundred years running from 1902 to 2001. Annualized cumulative geometric returns: '0' years -11.76% '1' years -8.60% '2' years -2.18% '3' years +3.21% '4' years +4.09% '5' years +25.02% '6' years +7.56% '7' years -9.89% '8' years +13.69% '9' years +10.55% Standard deviations run from 10% to 23%, so the noise can be stronger than the signal. Still, the '5' years are amazing. Every single '5' year of the 20th century (all ten of them) was up. Link to comment Share on other sites More sharing options...
mksloth Posted August 29, 2003 Report Share Posted August 29, 2003 'chine, those are the kind of deviations that would warm a riverboater's cockles - not me! Give me the staid and steady 40% per year Link to comment Share on other sites More sharing options...
FeedFool Posted August 29, 2003 Report Share Posted August 29, 2003 Inflation?????? Link to comment Share on other sites More sharing options...
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