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Another Sleepy Summer Friday


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headline of germany's "Spiegel-online" ("Der Spiegel" is like Time magazine) today:

 

FEAR OF A BLACK MONDAY

 

(espacially for Jimi and beardrech: Angst vor dem schwarzen Montag)

 

:ph34r:

598897[/snapback]

 

Probably a good indication that we won't be heading lower next week.

 

Ideally, I'd like to see "Der Spiegel" run a headline in two weeks: "Is the Worst Over?" or "Is the bool Back?".

 

Or something like that.

 

Would also love to see the Q-balls tag long-term target around 51-52 while the SPX fails at 1532ish.

 

A higher high on the Q-balls would get the girlyboolz drooling. But a lower low on the Spoozer would mean only one thing: bear fiesta.

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headline of germany's "Spiegel-online" ("Der Spiegel" is like Time magazine) today:

 

FEAR OF A BLACK MONDAY

 

(espacially for Jimi and beardrech: Angst vor dem schwarzen Montag)

 

:ph34r:

598897[/snapback]

 

It's been a long time since we've had a Fred Sanford moment.

 

This is the big one Lamont!

post-441-1186946997_thumb.jpg

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headline of germany's "Spiegel-online" ("Der Spiegel" is like Time magazine) today:

 

FEAR OF A BLACK MONDAY

 

(espacially for Jimi and beardrech: Angst vor dem schwarzen Montag)

 

:ph34r:

598897[/snapback]

 

Probably a good indication that we won't be heading lower next week.

 

Ideally, I'd like to see "Der Spiegel" run a headline in two weeks: "Is the Worst Over?" or "Is the bool Back?".

 

Or something like that.

 

Would also love to see the Q-balls tag long-term target around 51-52 while the SPX fails at 1532ish.

 

A higher high on the Q-balls would get the girlyboolz drooling. But a lower low on the Spoozer would mean only one thing: bear fiesta.

598898[/snapback]

:huh:

 

"Is the worst over?"

 

:huh:

 

I don't think the psychology of Germans provides for the linguistic construction of such a sentiment.

 

:lol: :lol: :lol:

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Seriously people, scalping this thing is gonna be a bitch.?

 

The pinball action on tons of small stocks is just dizzying.? I'll post a few here.

 

Advice?

 

- Time.

- Limit Risk.

- Do it when you're most scared to go short.

 

Best.

598648[/snapback]

 

Agreed. Here's another one...

 

post-1110-1186779116_thumb.png

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Time it! Read the charts. Friday was an upside churn with insignificant volume. This was pathetic - especially considering the nature of the Fed operations that day. IBD changed their market status back to "correction" after Friday. The Dow undercut its follow-through. We are in a correction - let the trend be your friend.

 

Somehting to watch: Nasdaq and SP500 are in a position to follow-through any day now. If we do follow-through, Here are some longs I'm watching: CMED, CBST, STP, - all are at buy points; UA is also looking strong at this time.

 

I doubt were going to start a new rally, though. There isn't enough money flowing into the markets. This looks like a mass exodus. Wait for all the sectors to get wiped. If this is just an intermediate correction, then some stuff will survive (XLE, XLB, XLK, XLI, XLP are still holding up). If there is more selling to go, they will all get spanked. Watch the sectors for clues. Stay short unless trend changes.

 

 

I had a client who was having $20k cash bail posted for her this week by a bondsman. The bondsman received a $20k cashier's check and took it to his bank on Monday to get cash to take to the jail. His bank, Wells Fargo, I think, told him to come back on Wednesday for the cash. Don't know if this is unusual.

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If he was asking for hard greenbacks this is because most banks keep $5k or less on hand. I have read numerous tales of people attempting to get a few thousand and having the bank refuse. Under pressure the bank admits that they don't have enough on hand to satisfy the request.

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5k? How can that be!? ATM probably has more much more than 5k.

598677[/snapback]

 

 

I went to Chase on Friday and withdrew $10k. They had it. The only new requirement was needing 2 forms of ID (started on Monday).

I showed them my firearm owners identification. :P

 

 

Homeland Security demands banks report? transactions totaling $10,000 and over in a 24 hour period, lesser amount are voluntarily reported by the banks.

598723[/snapback]

 

Great - wish I knew that before. Now I'm probably on a government watch list. How the hell does this make me a security threat?!

598881[/snapback]

 

 

why will people go try to take money out of the bank .. won't it all become worthless ? I'm stockpiling food and other provisions ;) I aint kidding.

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We can agree that the 1390 area is an important point on the SPX chart.? The signifance of the monthly key reversal in July may mean the monthly chart holds the key to future support.

598870[/snapback]

 

I generally take it one step at a time.

 

So my eyes are on the 1380s right now. If we find support there, there is plenty of historical evidence to support it as a potential major low.

 

We'll just have to wait to see what happens subsequently.

 

Obviously, if the SPX bottoms in the 1380s but is unable to rally to new highs and then undercuts the low, that would be exceptionally bearish and a huge GTFO signal.

 

Conversely, if the 1380s hold and the SPX goes on to make higher highs, that would be very boolish.

 

But that's two or three steps away from where we are right now. And we haven't even tagged the 1380s yet.

 

There have been plenty of "monthly key reversals". They often mean that lower lows await in the near future. But they don't necessarily mean a whole lot longer-term. So we could see a lower low in September in the SPX and then rally for the next three years. Who knows.

 

In addition, let's assume for the sake of argument that the 1380s might represent an important price low (similar to the 50% retrace in 1987 and the 50% retrace in 1990.) That doesn't necessitate an immediate boner back up to new highs.

 

For example, after the 50% "crash" retrace in 1987, the SPX was unable to make a higher high until July 1989, almost two years later. And it took until Jan 1991 to fully clear the high, well over three years later.

 

And after the milder 50% retrace in 1990, it took until March 1991 to make a higher high, nine months later. And it took until December 1991 to fully clear the high, almost 18 months later.

 

So even if the upcoming low proves important from a price standpoint, we could well be blathering about these levels for another year or three, even if the markit remains "boolish".

 

Most folks appear to be focusing on memes from 1997 and 1998, when the markit cracked hard and bonered right back up. But those were pretty anomalous in terms of markit history. It was a "bubble", remember?

 

Going into this year, I felt that the markit would have great difficulty getting through the SPX ATH the first time around, especially if the tag of that level occurred in Jul/Aug. I wrote that I wouldn't be surprised if it took the better part of 6-18 months to clear the ATHs, even if the markit was boolish.

 

So the sort of action we are seeing surrounding the tag of 1550ish is expected. The fact that all this "newsnoize" has come along to reinforce the volatile action is par for the course.

598873[/snapback]

 

i think 1380 s could be seen this week,even tomorrow.if it does,i will buy and close my eyes for a day or 2 and see what happens.i think that area will hold at least for a decent bounce.

 

the strage thing is that many of the bond etf s i follow,the price has tanked,but the nav has barely moved through all of this.my only holding is a small position in hnw.down 3 bucks in a few weeks,but nav has only dropped 20 cents!

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If, as I suspect, the system is teetering on the edge of insolvency because the bottom layers of the Ponzi aren't paying the bills any more, then I can't imagine what? they'll do, short of buying all the worthless paper and setting off a Weimar style inflation.

With all due respect, Doc, I think it's a mistake to casually invoke the Weimar trope when discussing debt monetization. Hyperinflation is not primarily a monetary phenomenon, but rather a political one. Specifically, it is a form of governmental abdication accomplished through economic means. Folks here using the term Weimar ought to take a few minutes to acquaint themselves with the actual historical context in which this economic debacle took place. You don't have to be a history scholar to quickly realize that there is no comparison between Germany in the 1920s and the USA today -- just as there no comparison between this country and contemporary Zimbabwe.

Much as many of us might like the current bunch of clowns in DC to abdicate, I think we all know that they're not about to do that.

 

Significantly higher inflation? It's a definite possibility. Deflation? It could go that way as well. But hyperinflation -- not in your lifetime, imo.

598884[/snapback]

 

Excuse me 4shzl and permit me to differ with your assertion about there "being no comparison between us today and Weimar"...

 

There is always a comparison to be made; it may be dimwitted and astronmically distant from being significant, but nevertheless, comparable .

 

Similarly about the use of the word "Hyperinflation"...a word which does not have a semantic status based on the gold standard...like pornography about hwich term the courts used to dispute, and which currently has no purchase on anyone's time , its approprite definition will be "ostensive", i.e. when you can point your finger at evryone wiping their tochesses with it...

 

The meaning Im trying to offer is that there currently is an epistomological dilemma..

 

As Art Cashen was quoted by someone: the great fear sweeping through our civilization is one: that we dont know what we dont know, and two: we dont know what THEY don't know...

 

And it is this virtual cognitive Sahara we toilsomely are wandering in that makes our blood run cold--or should...

 

Perhaps an Aviator's metaphor would be of some use---We are far away from a welcoming airfield; our fuel is running low; and our Instruments have gone haywire......

 

:ph34r: :ph34r: Ignorance does not give one a licence for complacency; while forgivable, it isn't blissful ---you want to play in the traffic--great--Here's the number of my broker :Eval Keneval Brokerage 1-2-3-4-5 and five makes ten:Your Out

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headline of germany's "Spiegel-online" ("Der Spiegel" is like Time magazine) today:

 

FEAR OF A BLACK MONDAY

 

(espacially for Jimi and beardrech: Angst vor dem schwarzen Montag)

 

:ph34r:

598897[/snapback]

 

Probably a good indication that we won't be heading lower next week.

 

Ideally, I'd like to see "Der Spiegel" run a headline in two weeks: "Is the Worst Over?" or "Is the bool Back?".

 

Or something like that.

 

Would also love to see the Q-balls tag long-term target around 51-52 while the SPX fails at 1532ish.

 

A higher high on the Q-balls would get the girlyboolz drooling. But a lower low on the Spoozer would mean only one thing: bear fiesta.

598898[/snapback]

:huh:

 

"Is the worst over?"

 

:huh:

 

I don't think the psychology of Germans provides for the linguistic construction of such a sentiment.

 

:lol: :lol: :lol:

598900[/snapback]

 

How about "Ist das wurst uber?"

 

Loosely translated: "Was that it or are we gonna have more of this baloney?"

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headline of germany's "Spiegel-online" ("Der Spiegel" is like Time magazine) today:

 

FEAR OF A BLACK MONDAY

 

(espacially for Jimi and beardrech: Angst vor dem schwarzen Montag)

 

:ph34r:

598897[/snapback]

 

Probably a good indication that we won't be heading lower next week.

 

Ideally, I'd like to see "Der Spiegel" run a headline in two weeks: "Is the Worst Over?" or "Is the bool Back?".

 

Or something like that.

 

Would also love to see the Q-balls tag long-term target around 51-52 while the SPX fails at 1532ish.

 

A higher high on the Q-balls would get the girlyboolz drooling. But a lower low on the Spoozer would mean only one thing: bear fiesta.

598898[/snapback]

 

FxFx

Remember Fx -Auf Montag:Dann ist aber die Kacke am Dampfen

 

Herr beardrech :ph34r: :ph34r:

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Probably a good indication that we won't be heading lower next week.

 

Ideally, I'd like to see "Der Spiegel" run a headline in two weeks: "Is the Worst Over?" or "Is the bool Back?".

 

Or something like that.

 

Would also love to see the Q-balls tag long-term target around 51-52 while the SPX fails at 1532ish.

 

A higher high on the Q-balls would get the girlyboolz drooling. But a lower low on the Spoozer would mean only one thing: bear fiesta.

598898[/snapback]

:huh:

 

"Is the worst over?"

 

:huh:

 

I don't think the psychology of Germans provides for the linguistic construction of such a sentiment.

 

:lol: :lol: :lol:

598900[/snapback]

 

How about "Ist das wurst uber?"

 

Loosely translated: "Was that it or are we gonna have more of this baloney?"

598905[/snapback]

 

**********************

 

LeeWhee, you need to do stand up comedy!

 

Ist das wurst uber.. :lol: :lol: I got to remember that one.

 

You are golden. Please never change.

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Foreclosure list from LA Times.

 

It's turns out forclosures are WAY UP.

598878[/snapback]

This adjacent story tells you everything you need to know about what's been going on in the SoCal RE market:

 

One house's trip through the boom and bust

598885[/snapback]

 

The couple took $450k out of the house and had no money. They couldn't cover $13k in back mortgage payments. but they did "buy" another house in Texas somehow. Amazing.

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headline of germany's "Spiegel-online" ("Der Spiegel" is like Time magazine) today:

 

FEAR OF A BLACK MONDAY

 

(espacially for Jimi and beardrech: Angst vor dem schwarzen Montag)

 

:ph34r:

598897[/snapback]

 

Probably a good indication that we won't be heading lower next week.

 

Ideally, I'd like to see "Der Spiegel" run a headline in two weeks: "Is the Worst Over?" or "Is the bool Back?".

 

Or something like that.

 

Would also love to see the Q-balls tag long-term target around 51-52 while the SPX fails at 1532ish.

 

A higher high on the Q-balls would get the girlyboolz drooling. But a lower low on the Spoozer would mean only one thing: bear fiesta.

598898[/snapback]

 

FxFx

Remember Fx -Auf Montag:Dann ist aber die Kacke am Dampfen

 

Herr beardrech :ph34r: :ph34r:

598908[/snapback]

 

:lol: :lol: :lol:

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