Hiding Bear Posted March 17, 2004 Report Share Posted March 17, 2004 Top of the morning to ya! Did you know the word luck is a carryover from Celtic times? One of the main Celtic gods was Lugh (pronounced "luck"). When he took on human form it was a small body. The name leprechaun derives from the old Irish word "luchorpan," meaning little body. About 2 feet tall, he's usually dressed like a shoemaker, is mischievous and is believed to possess a pot of gold. So if you are feeling lucky, you are feeling like you possess gold. Ancient Ireland had active gold mines, which were used to produce jewelry. This jewelry was traded around Europe long before the Romans came to power. In the last 24 hours, the BOJ and MOF have made numerous and conflicting statements about US$ interevention policy. But one thing is sure - they will be cutting back $ purchases, at the lastest in about two weeks. Tokyo Officials Struggle to Hold the Yen in Line http://www.nytimes.com/2004/03/17/business...ness/17yen.html Leprechaun Crossing Valley - Ireland Link to comment Share on other sites More sharing options...
Lock Limit Down Posted March 17, 2004 Report Share Posted March 17, 2004 HB Lets hope the Japenese year end will bring an end to that money machine! I will believe it when I see it Gold and silver have been very very quiet all night as are the currencies. Oil rearing its ugly head again with apr crude up .38 to 37.68 The spoos are up 3.75 to 1114. Maybe today will give TE that opportunity to get out of his calls. Looks like early on it may be a repeat of what we have seen before following the FOMC as the European markets are strong with the exception of the UK. Japan was on fire last night. Gap and crap? Hope so as my Dows are under water. Will be resetting the stops just above the open. Link to comment Share on other sites More sharing options...
HiHat Posted March 17, 2004 Report Share Posted March 17, 2004 In my opinion....What everyone needs to carefully watch going forward: BANKING--------Financial Sector........when this starts breaking down down trend will be sealed...ALSO they are canary that will send message that interest rates are set to begin the long upward trend. Basically ...when interest rates begin cycle of rising...TREND goes on for years...............DON"T matter if'n inflation or deflation. I'm looking for SnP to break 1100........1096?........then 1130 reached sometime Friday.........then by days end Friday beginning another down to test whatever lows reached today. OR if yesterday was low Test that Link to comment Share on other sites More sharing options...
Lock Limit Down Posted March 17, 2004 Report Share Posted March 17, 2004 A breath of fresh air on crapvision Guest Rep Charles Stenholm presenting his case on the insanity of tax cuts and the runaway US budget deficit. Never thought I would see the day. Of course the hosts looked somewhat confused. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted March 17, 2004 Report Share Posted March 17, 2004 In my opinion....What everyone needs to carefully watch going forward: BANKING--------Financial Sector........when this starts breaking down down trend will be sealed...ALSO they are canary that will send message that interest rates are set to begin the long upward trend. Basically ...when interest rates begin cycle of rising...TREND goes on for years...............DON"T matter if'n inflation or deflation. I'm looking for SnP to break 1100........1096?........then 1130 reached sometime Friday.........then by days end Friday beginning another down to test whatever lows reached today. OR if yesterday was low Test that I am watching the 10 and 30 year yield, Eurodollar/FF spread like a hawk. Rising yields will stop this madness cold. As someone was saying yesterday they will prop the bond at all costs. A rising yield ends debt inflation as Hyper has so brilliantly explained. Knowing that its going to happen is not the question. Its when. Link to comment Share on other sites More sharing options...
Slothrop Posted March 17, 2004 Report Share Posted March 17, 2004 This Irish trader is long NEM and EWJ with stop losses just below the recent swing lows. A 3-day to 3-week trade. Link to comment Share on other sites More sharing options...
DrStool Posted March 17, 2004 Report Share Posted March 17, 2004 Uncle Buck and the Long Bong Hit, including short and long term updated charts and price targets, is now loaded. Take a subscribatory and get the latest whiff of Uncle Buck and the Long Bong Hit. 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Yesterday's Fed Feed Report. Take a subscribatory and download your Feed report and analysis RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Guest Posted March 17, 2004 Report Share Posted March 17, 2004 Interesting glitches this morning on Crapvision. Their DOW Futures bug has occassionally flipped to a much lower number. Earlier in the morning it went from plus 30 to unch. - and now it just went from plus 50 to minus 55 - then back again. Doesn't it just make you wonder if the REAL numbers are hiding in the background behind those being displayed? Link to comment Share on other sites More sharing options...
zensmoke Posted March 17, 2004 Report Share Posted March 17, 2004 Report: BofA Plans Up to 13,000 Job Cuts Wednesday March 17, 2:02 am ET NEW YORK (Reuters) - Bank of America Corp. (NYSE:BAC - News) is planning to cut as many as 13,000 jobs as it completes its acquisition of FleetBoston Financial Corp (NYSE:FBF - News), the Wall Street Journal reported on Wednesday. The move could affect about seven percent of the companies' combined workforce and would come through lay-offs and attrition at both banks, beginning in April, the paper cited people familiar with the cuts as saying. Potential targets for the headcount reduction include finance, marketing, legal and technology workers, the story said. Shareholders are expected to vote on Wednesday http://biz.yahoo.com/rb/040317/finance_bofa_report_1.html Link to comment Share on other sites More sharing options...
Hiding Bear Posted March 17, 2004 Author Report Share Posted March 17, 2004 BANKING--------Financial Sector........when this starts breaking downdown trend will be sealed...ALSO they are canary that will send message that interest rates are set to begin the long upward trend. Basically ...when interest rates begin cycle of rising...TREND goes on for years...............DON"T matter if'n inflation or deflation. Heavy issuance new yen treasury bills for deficit funding and intervention funding have only increased Japanese 3 month rates from less than 0.01% to almost 0.02%. While that is a very small increase, it's a start in the up direction from absoute zero. An additional heavy schedule of new Japanese bills is expected over the next few months. Combined with the possibility their inflation may move from negative to positive numbers, it may be the beginning of a very long trend. Tanks LockLimit for your comments on the IMF, etc. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted March 17, 2004 Report Share Posted March 17, 2004 Hey Hyper REFIS UP 40% last week Link to comment Share on other sites More sharing options...
HiHat Posted March 17, 2004 Report Share Posted March 17, 2004 if it stays above 1109..it may mean yesterday was temporary low and rally in progress Link to comment Share on other sites More sharing options...
Guest Posted March 17, 2004 Report Share Posted March 17, 2004 Canada's Bombardier to cut 6,600 jobs 3/17/2004, 8:27 a.m. ET TORONTO (AP) ? Bombardier Inc. said Wednesday it was cutting 6,600 jobs and closing seven plants in a massive restructuring of its troubled rail division in Europe. http://pennlive.com/newsflash/lateststorie...30440141950.xml Link to comment Share on other sites More sharing options...
Guest Posted March 17, 2004 Report Share Posted March 17, 2004 Cause Of Fire Not Determined POSTED: 8:38 am EST March 17, 2004 UPDATED: 8:40 am EST March 17, 2004 MARION, Ind. -- A fire damaged inventory at Thomson's television picture tube plant just hours after the company shut down production at the factory. Thomson officials announced about 3 p.m. Tuesday that they were ending production at the Marion plant, eliminating 865 jobs. http://www.theindychannel.com/employment/2928313/detail.html Link to comment Share on other sites More sharing options...
Guest yobob1 Posted March 17, 2004 Report Share Posted March 17, 2004 Looks to me like it might be setting up for an ugly day. The re-fi madness has reared it's ugly head again. That alone is enough to cheer Wank Street's cockles. I sure hope everyone is taking Al's advice and getting an adjustable rate, interest only mortgage - definitely the smart thing to do if you're into financial hari-kari. If printing fiat money like it's going out of style, which it will be, is a sure way to inflation, what's wrong with Japan? Lord knows they've burnt up the presses and borrowed some of Al's printing capacity too, so why can't they get the price of rice up? You folks can yammer all you want about how the commodity prices are gong to drive everything retail through the roof, but for the life of me, away from energy, I'm just not seeing it. Coffee goes up on the commod. markets and yet the price on my favorite brand just hit a new low. Orange juice is the same price I've been paying for over 2 years. Milk keeps going down. The only thing I see in groceries that's up lately are some of the chicken and eggs. Perhaps related to the bird flu? Now maybe in New York or California prices are going up at the store, but they're sure as hell not doing it here. Clothes don't seem any more expensive. Yeah we know houses went up, but at the same time rents have dropped, Houses aren't something most of us by on a daily basis. Nor is a college education a daily expense. Insurance is however and they will soon break the fun barrier on that stuff. Carriers are pricing themselves right out of the market. Business insurance is getting hard to obtain and the lists of coverage exclusions is getting absurd. It seem like I'm only covered in the event an elephant falls out of the sky during a blizzard and then the deductible is so high you wonder why you buy insurance at all - other than it is legislated in many cases or required by lenders. God knows if you file a claim it better be a doozie you can retire on because you will be cancelled and then blackballed. Gasoline locally has risen to an average of $1.85 here. Everyone marvels that consumption continues to go up. Well Duh. The Neons, Cavaliers and Focus collect dust while the guzzling trucks and SUV's roll off the lot. The CAFE standards are a joke. They primarily targeted passenger cars and people just switched to trucks. Did you know Chrysler got the PT cruiser classified as a truck? But even those aren't selling. I would be willing to bet that the per capita consumption of gaoline has risen right back to the days of yore when the average car got 12 mpg. Meanwhile the Japanese continute to roll out bigger and more thirsty trucks/suvs to further erode Detroit's market share. Link to comment Share on other sites More sharing options...
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