Lemur Posted October 10, 2008 Report Share Posted October 10, 2008 I just have this feeling that today's low will hold for a few 'weeks'. No, seriously..i think anyone that bought today will be in for a nice ride to the upside. If i'm wrong, you can take this post and slap me silly. 699115[/snapback] Bloomberg reporting that the US govt is going to buy 'equity' in US firms so my guess is you are right. Hope so cause i have quite a lot of long positions. But 'buy equity' WTF? So what happened to 'free markets' Link to comment Share on other sites More sharing options...
DrStool Posted October 10, 2008 Author Report Share Posted October 10, 2008 Doc, For all the angst we have caused each other in the past... Have I told you lately you are a friggin genious? 699116[/snapback] Nope, but I was a former spelling bee 7th runner up. And cranky people just look smart in bear markets. Link to comment Share on other sites More sharing options...
DrStool Posted October 10, 2008 Author Report Share Posted October 10, 2008 Has it occurred to you that we already had the big inflation? It has to me. If they continue to fund these bailouts by borrowing rather than printing, we face a crushing deflation. Link to comment Share on other sites More sharing options...
hokahay Posted October 10, 2008 Report Share Posted October 10, 2008 Has it occurred to you that we already had the big inflation? It has to me. If they continue to fund these bailouts by borrowing rather than printing, we face a crushing deflation. 699127[/snapback] Paulson et al press statement eminent. Doc will be in the car while history is made next week? Link to comment Share on other sites More sharing options...
mdporter Posted October 10, 2008 Report Share Posted October 10, 2008 Has it occurred to you that we already had the big inflation? It has to me. If they continue to fund these bailouts by borrowing rather than printing, we face a crushing deflation. 699127[/snapback] Yes, the price of oil has really come down and will continue to fall (maybe) as the speculation money dries up. The price of everything that uses oil will also fall. Farming, air travel, deliveries, etc. The big question is how the US/world economies would handle deflation, since they are all built on inflation. The fall out from the market crash may be much worse when people start losing jobs. After crushing market losses and no income from a job, what's joe 6 going to do? Go bankrupt. Ugly cascade effects possible. Link to comment Share on other sites More sharing options...
cwd Posted October 10, 2008 Report Share Posted October 10, 2008 Bloomberg reporting that the US govt is going to buy 'equity' in US firms so my guess is you are right. Hope so cause i have quite a lot of long positions. But 'buy equity' WTF? So what happened to 'free markets' 699125[/snapback] When they buy equity, they dilute the stock, just like Warren Buffett. not good for the common. Link to comment Share on other sites More sharing options...
Jimi Posted October 10, 2008 Report Share Posted October 10, 2008 Yep, I'm up about $82 on the week, actually.... how'd you know? 699118[/snapback] I think you'll be "up" a total of $89 in about 3 more innings. Link to comment Share on other sites More sharing options...
Bungster Posted October 10, 2008 Report Share Posted October 10, 2008 Bloomberg reporting that the US govt is going to buy 'equity' in US firms so my guess is you are right. Hope so cause i have quite a lot of long positions. But 'buy equity' WTF? So what happened to 'free markets' 699125[/snapback] Welcome to the twenty first century comrad! Now show me your papers!!! Link to comment Share on other sites More sharing options...
Private Skidmark Posted October 10, 2008 Report Share Posted October 10, 2008 jickiss is back!jiciss is back! and Dear Private Skidmark: For sure, nothing has happened yet. ok, jickiss, what do you mean??? well, here we go: let's just look at Gold, so that we can avoid anything that is political. using Trader Dan Norcini as the source of the comment that today there was massive manipulation in COMEX gold, december basis, (see his chart with comments at http://www.jsminest.com, nothing has happened. Specifically, your jickiss thinks that da Boyz and them at the top acutally believe in the Theory of Behaviorism, which means that most citizens can not think at all, and that the Mass Mind only responds to what it is SHOWN. So, as long as what is Shown to the herd is controlled, the herd is powerless... Hence, on bubblevision, they say things like: "Wow, if gold were at 1,200, maybe we should be worried, but it is off 50 today, so there is nothing to worry about." The Real Issue is the following: These boyz in the ME that produce Earl are not exactly poor: Why don't they open up an honest futures market in the metal and knock COMEX out of the box? well, that would rank as something happening, but for some unknown reason, it does not happen. or, alternatively, these same boyz in the ME that produce Earl could mint and sell Dinars, (to knock out the over priced usa mint gold coins), with web sites that could deliver rounds at a nice discount to the US Mint, and these would sell all over the globe. But, so far, all talk, all bs, but no real aciton is ever taken. or, if the above is too hard to pull off, (too much like WORK?) (HooHa!) well, why does not some group or entity buy Yamana, (AUY) for $25 doolars, for instance, which is worth $30 for sure, next week. AUY is now below $10, and your jickiss would buy it in a flash if the coin were in the jickiss account to do the deal. where are them that talk tough all the time???? to your jickiss, they are no where to be found doing anything! your jickiss could write easily 20 more examples, such as in Kali, running out of coin, why not enforce pay reductions of 30% to all them that make over 50k or whatever per year???? cool idea, why does it not happen????????? arnie talks tough, pure bs. in Philadelphia, why don't they just go to 7 members for City Counsel, instead of 20 or whatever they have, and save that coin????? never happens, even though it should. why don't the citizens demand that they can go to the fed window and get coin like the Giants get?????? nothing happens.... see the point? To your jickiss, so far, NOTHING HAS HAPPENED. yet. (Hold Fast, the indication will be gold over 950. when you see gold trade over 950, you will see something Happen). regards, jickiss!!!!!!! 699106[/snapback] Agree. As much as has happened over the past few months, nothing has happened yet. I added AUY today. Wish I could have added more. Its cash cost is negative so it prints money even with gold off its highs. Link to comment Share on other sites More sharing options...
Bungster Posted October 10, 2008 Report Share Posted October 10, 2008 Agree. As much as has happened over the past few months, nothing has happened yet. I added AUY today. Wish I could have added more. Its cash cost is negative so it prints money even with gold off its highs. 699134[/snapback] Just thought I'd post a chart..... Positive divies on the daily Link to comment Share on other sites More sharing options...
astral mike Posted October 10, 2008 Report Share Posted October 10, 2008 I just have this feeling that today's low will hold for a few 'weeks'. No, seriously..i think anyone that bought today will be in for a nice ride to the upside. If i'm wrong, you can take this post and slap me silly. 699115[/snapback] like this ? [flash=425,344]http://uk.youtube.com/watch/v/Fkrl20_kMRY&NR.swf Link to comment Share on other sites More sharing options...
Private Skidmark Posted October 10, 2008 Report Share Posted October 10, 2008 Just thought I'd post a chart..... Positive divies on the daily 699135[/snapback] I'm not saying it can't go lower. But when your last buy was at over twice the price, you have no faith in paper money, global mine output is falling, and global gold demand is rising, what the hell. Link to comment Share on other sites More sharing options...
4shzl Posted October 10, 2008 Report Share Posted October 10, 2008 Whatever happened to free markets? The PigMen took a good thing way too far -- and now it's over. Get used to it. That's the correct response to the Washington Post article I cited earlier today, the one that ran under the headline: The End Of American Capitalism? New York is finished as the financial capital of the world -- washed up, terminated, kaput. The PigMen made monkeys out of all the SWFs, and no one in Europe, Asia or the Middle East is going to forget it for a very long time. Wall Street's franchise will be carved up between Dubai, Shanghai, and the Russians. Why? Because they have the cash reserves, and we don't. End of story. If you own real estate in Manhattan, sell it now. It will get steadily cheaper for the next one thousand years. Lastly -- irrespective of whether "peak oil" is a fact or a fantasy -- oil will not get meaningfully cheaper in real terms until someone comes up with a substitute fuel and the world spends the trillions necessary for the requisite technology change-out. We are talking decades. If you're thinking about "demand destruction" or trying to make a forecast based on a chart -- just fuggedaboutit. Oil has only traded freely on open markets for a few decades. For a hundred years prior to the creation of the oil futures market on Nymex, the price of oil was determined by "interested parties" in a back room. This is the way it will be from now on. Oil has turned out to be the greatest vehicle for the transfer of wealth in the history of planet. The oil producers understand this, and they will do whatever they have to keep the wealth flowing in their direction. Yes, they screwed up on this previously, but they have learned from their mistakes and the market is much tighter and more narrowly based now. If you want to short oil, go ahead, but bear in mind that Ali Naimi may be on the other side of the trade -- and if he is, you're toast. It has been a cathartic week. I have been sitting on cash for years, sucking up crappy returns. It's nice to be able to put some of that money to work. Link to comment Share on other sites More sharing options...
Jorma Posted October 11, 2008 Report Share Posted October 11, 2008 Here is an interesting theory about the banking crisis that hasn't received much attention. "Bank failures are caused by depositors who don't deposit enough money to cover losses due to mismanagement" - Dan Quale. Link to comment Share on other sites More sharing options...
mdporter Posted October 11, 2008 Report Share Posted October 11, 2008 Lastly -- irrespective of whether "peak oil" is a fact or a fantasy -- oil will not get meaningfully cheaper in real terms until someone comes up with a substitute fuel and the world spends the trillions necessary for the requisite technology change-out. We are talking decades. If you're thinking about "demand destruction" or trying to make a forecast based on a chart -- just fuggedaboutit. Oil has only traded freely on open markets for a few decades. For a hundred years prior to the creation of the oil futures market on Nymex, the price of oil was determined by "interested parties" in a back room. This is the way it will be from now on. Oil has turned out to be the greatest vehicle for the transfer of wealth in the history of planet. The oil producers understand this, and they will do whatever they have to keep the wealth flowing in their direction. Yes, they screwed up on this previously, but they have learned from their mistakes and the market is much tighter and more narrowly based now. If you want to short oil, go ahead, but bear in mind that Ali Naimi may be on the other side of the trade -- and if he is, you're toast. 699139[/snapback] All true, the days of $10 a barrel oil are probably over forever. But, I will say that I do not think we will return to $140+ oil anytime soon. That run was clearly driven by the Wall Street pigmen. As soon as they started to blow up oil began falling. We might see a range between $60 and $90. Demand destruction at least for a period of time will be relevent. Link to comment Share on other sites More sharing options...
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