MyGoldenStool Posted October 17, 2003 Report Share Posted October 17, 2003 The Winners of the New World By James J. Cramer 2/29/00 9:42 AM ET Editor's Note: James J. Cramer is the keynote speaker at the 6th Annual Internet and Electronic Commerce Conference and Exposition, held today at the Jacob Javits Center in New York City. We're running the full text of that speech here. From the Market Watch section of Barron's (3/6/95): 'The Elliott Wave Theorist' P.O. Box 1618, Gainesville, GA 30503 MARCH: The DJIA is topping at the Elliott Wave Theorist's major trend target of 4000-4100 and is primed to begin its Grand Supercycle bear market. Bonds are completing Primary Wave (2). Wave (3), despite the seeming impossibility of such an event to most money managers and investors, will be larger than the 1994 collapse. Dull though they have been, the precious metals should spring to life now that the two-year cycle is lifting. Gold should advance to $460 (plus or minus$5), probably by June. Silver and the XAU (gold stocks index) should rise into year-end 1995 and outperform gold by a substantial margin. -Robert Prechter It's probably a good call- he was a visionary- just 10 years ahead of his time! Link to comment Share on other sites More sharing options...
BartTheBear Posted October 17, 2003 Report Share Posted October 17, 2003 It's probably a good call- he was a visionary- just 10 years ahead of his time! Mind you I wasn't trying to be a smart-ass or anything. Its just that who the hell knows? Ya know? Link to comment Share on other sites More sharing options...
Goldmember Posted October 17, 2003 Report Share Posted October 17, 2003 Update: I figure they pong it right back up on Monday or let the David Tice induced Krudblow and Creamer scare-a-thon on Friday evening shake the sheeple out down to the yellow oval, on da chart. Link to comment Share on other sites More sharing options...
Space Modulator Posted October 17, 2003 Report Share Posted October 17, 2003 It's probably a good call- he was a visionary- just 10 years ahead of his time! If I'm not mistaken, Prechter thought that the 1987 crash was wave 1 of the grand supercycle bear market. So more like 16 years early. Maybe. Link to comment Share on other sites More sharing options...
Space Modulator Posted October 17, 2003 Report Share Posted October 17, 2003 On the other hand, Cramer's just an ass. Link to comment Share on other sites More sharing options...
brian4 Posted October 17, 2003 Report Share Posted October 17, 2003 I'm sure Doc knows we all feel for him and his family, The break under and close under 1041 SHOULD seal the rally as in IT'S OVER! Confirmation for me is a break of 1036 which should occur Monday. What happens next should be very ugly as we revert to the mean-the longer something defies the law of averages the worse the consequences. A non market example: Where I live we had an all time record dry summer nearly 5 months with near zero rainfall, a record number of forest fires including some that got into Cities and destroyed hundreds of homes-now in the middle of October we have just had a record 24 hour rainfall and have had 10 straight days of rain and the forecast is for at least another 7 days of torrential downpours and heavy rains.--that is reversion to the mean-the same will apply to the markets and there will be no prisoners. On another note-I was reading an article this a.m. about why jobs are going overseas-we all know why but these stats blew me away-the source is the Bureau of Labor Statistics-Average Hourly Wages of Workers in Select Countries" U.S.- $20.32-Australia-$13.15-Ireland-$13.28-Korea-$8.09-Singapore-$7.77-Hong Kong-$5.96-Thailand-50 cents-Indonesia-37 cents-India-24 cents-China-30 cents. The article pointed out that Delphi Corp since its spinoff from GM in 1999 has eliminated 30% of its U.S. workforce and NOW employs 72,000 workers in Mexico making them one of the largest private Employers in Mexico-average wage of their Mexican employees is less than $3.- an hour with few benefits-how would you like pay your mortgage and the payment on your SUV all on a $120. Bucks a week. Balls to the wall short at the close (tight stops) Trade Safe! Link to comment Share on other sites More sharing options...
BarBu Posted October 17, 2003 Report Share Posted October 17, 2003 Posted: Oct 5 2003, 03:33 PM ... ?ass&pee chart, looks to me there were two channel shifting, it broke the ascending lines, and still followed the original up move axis, at this stage it could be a megaphone ......, after the final barking, ... then the developing pattern die ( glorious or ugly ), bullhorn fades ... (see attached chart) Link to comment Share on other sites More sharing options...
Stutz Posted October 17, 2003 Report Share Posted October 17, 2003 Brien4 wrote: "On another note-I was reading an article this a.m. about why jobs are going overseas-we all know why but these stats blew me away-the source is the Bureau of Labor Statistics-Average Hourly Wages of Workers in Select Countries" U.S.- $20.32-Australia-$13.15-Ireland-$13.28-Korea-$8.09-Singapore-$7.77-Hong Kong-$5.96-Thailand-50 cents-Indonesia-37 cents-India-24 cents-China-30 cents." So, what would a 50 % fall for the US$ do for our "competitive" position? Am I missing something? The Chinese would be worjking for $0.60, no? <_< Link to comment Share on other sites More sharing options...
RockLedge Posted October 17, 2003 Report Share Posted October 17, 2003 Merrill Lynch files $25 bln shelf offer with SEC Net proceeds from the offering will be used for general corporate purposes, possibly including financing subsidiaries and acquisitions, the investment bank said in a shelf registration statement. ((( A new matrix system, & bigger-n- better attorneys))) Link to comment Share on other sites More sharing options...
FauxCaster Posted October 17, 2003 Report Share Posted October 17, 2003 Brien4 wrote:"On another note-I was reading an article this a.m. about why jobs are going overseas-we all know why but these stats blew me away-the source is the Bureau of Labor Statistics-Average Hourly Wages of Workers in Select Countries" U.S.- $20.32-Australia-$13.15-Ireland-$13.28-Korea-$8.09-Singapore-$7.77-Hong Kong-$5.96-Thailand-50 cents-Indonesia-37 cents-India-24 cents-China-30 cents." So, what would a 50 % fall for the US$ do for our "competitive" position? Am I missing something? The Chinese would be worjking for $0.60, no? That .30 china figure is wrong. That's for the developed big cities. Rural wages can be had for .10-.15 (don't ask me how I know). Link to comment Share on other sites More sharing options...
Goldmember Posted October 17, 2003 Report Share Posted October 17, 2003 something just came to my mind: first, of course: Is JJ Cramer the personified devil? what really came to my mind: i thought of stoolie BEARDRECH. He is an old man, 68 or so (ok, not THAT old, but also no young gun anymore) and he still has technical problems to post here again. I always enjoyed his posts. So it would be nice if someone could help him. Doc said that yiddish skills are required , but i guess he also understands normal english, or maybe dutch Be a good stoolie, help him. Beardrech posts were definately among my favorites. A much missed stoolie for sure. It would be a great pleasure to read his posts again...unfortunately, tech is not my area, nor Yiddish. Beardrech...please come home. Link to comment Share on other sites More sharing options...
brian4 Posted October 17, 2003 Report Share Posted October 17, 2003 Bingo Stutz- thats what the effect would be and of course the American consumer would pay more for his sox and underwear. The profits for the U.S. Corporations with factories in China would just get larger. The inmates are running the Asylum and the building is on fire, Trade Safe! Link to comment Share on other sites More sharing options...
anoscope Posted October 17, 2003 Report Share Posted October 17, 2003 I captured this "before" mo-mo could delete it.. you may have to zoom in on it. edit 10/18/03 by ano.. spoof above. didn't think it was THAT good! Fooled some into believing it was real. Just a bit of satire. Link to comment Share on other sites More sharing options...
BAREister Posted October 17, 2003 Report Share Posted October 17, 2003 Sympathies, Doc. When young, parents seem invincible and immortal. When in mid-life, they seem human and mortal. When in PERP skool we had daily chapel (an all-male, WASPish/Anglican service) Hearing 400 mostly male voices sing hymns was a memorable experience. Lyrics come to mind: "Time, like an ever rolling stream, bears all its sons away. They fly, forgotten, as a dream dies at the opening day." From "A Thousand Ages In Thy Sight" This writer's father becomes increasingly frail with each passing month. Mercifully, he is still around, unlike many of his classmates'. Link to comment Share on other sites More sharing options...
Hypertiger Posted October 17, 2003 Report Share Posted October 17, 2003 I'm sure Doc knows we all feel for him and his family, The break under and close under 1041 SHOULD seal the rally as in IT'S OVER! Confirmation for me is a break of 1036 which should occur Monday. What happens next should be very ugly as we revert to the mean-the longer something defies the law of averages the worse the consequences. A non market example: Where I live we had an all time record dry summer nearly 5 months with near zero rainfall, a record number of forest fires including some that got into Cities and destroyed hundreds of homes-now in the middle of October we have just had a record 24 hour rainfall and have had 10 straight days of rain and the forecast is for at least another 7 days of torrential downpours and heavy rains.--that is reversion to the mean-the same will apply to the markets and there will be no prisoners. On another note-I was reading an article this a.m. about why jobs are going overseas-we all know why but these stats blew me away-the source is the Bureau of Labor Statistics-Average Hourly Wages of Workers in Select Countries" U.S.- $20.32-Australia-$13.15-Ireland-$13.28-Korea-$8.09-Singapore-$7.77-Hong Kong-$5.96-Thailand-50 cents-Indonesia-37 cents-India-24 cents-China-30 cents. The article pointed out that Delphi Corp since its spinoff from GM in 1999 has eliminated 30% of its U.S. workforce and NOW employs 72,000 workers in Mexico making them one of the largest private Employers in Mexico-average wage of their Mexican employees is less than $3.- an hour with few benefits-how would you like pay your mortgage and the payment on your SUV all on a $120. Bucks a week. Balls to the wall short at the close (tight stops) Trade Safe! So 400,000 a week out of work and claiming benifits plus 100,000 a week running out of benifits equals 500,000 a week since last Christmas...or 20,000,000 out of a work force of 130,000,000 or 15% of the work force reycycled into lower paying jobs or into oblivion...but only 60% of the work force is even eligible for benifits so around 25% of the eligible work force has been recycled since Christmas... I did a search and the only industries and workers which have seen a significant rise in wages and compensation are... Executives, real estate, Insurance, banking and finance...And a slight increase in construction... All other industries Manufacturing, Service, health and Utilities show no growth or even a slight decline... As a whole wages are not rising significantly but debt is...massively. Link to comment Share on other sites More sharing options...
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