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Bear Zone Lee AM


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I have some absolute crackers for you to short today. Why bother shorting gold stocks which could pull back a tad when gems like these are availabull. (Drool drool)

I'm a don't put all your eggs in one basket (unless the basket is marked SMH) kind of guy so when I short stocks I like to spread the loooooooooooooooooooooooooooooove around. Give these some of your love:

 

CBK

EPIX

FBC

ITG

MCDT

MBT

PDLI

TXU

WNC

WTSLA

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Oh dear, the BOE does a surprise rate cut of .25% and the Footsie sinks like a stone... :D

 

And the US futures..... inter-esting...just hope there's not a crap & gap..

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Good morning and Good Stool to all!

 

Your Golden Stool is ready for download. Click Here Doc sees a few more days of pain ahead.

 

Parallel threads again today. One for both bools and bears and one for bears only. This one is bears.

 

Moderators are instructed to remove non-bearish posts form this thread.

 

I will be posting Stoolwethers around 8:30 NY time. Pre market update around 9:15. Use the links in the left column.

 

Deepest tankth to ThorAth for taking the lead on the bearth only stuff. Ath we all know Thorath ith impeded by hith thpeech impediment. Pleathe help to thupport hith therapy by contributing to the Pooper Thcooper.

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Thorass - I am not going to dispute you and Doc that gold miners will fall back a tad. My limited technical skills say the PMs are not going any where for a few days, but they do not look like good shorts.

 

Anyway, still more bad news on pension fund underfunding. Lucent, for example :

 

Today, those giant surpluses are mostly gone, thanks in part to a long bear market in stocks and historically low interest rates. Some companies that haven't poured any cash into their pension plans for years face a legal obligation to do so. They are asking Congress for relief -- new rules that would reduce funding requirements, yet make pension plans appear healthier to both shareholders and the government. They also seek permission to reduce pension payouts to certain departing employees.

 

One way some companies eroded or reversed their onetime pension surpluses was by tapping the pension assets to pay for staff reductions. Lucent Technologies Inc., the big maker of telecom gear, used about $800 million in surplus pension assets to pay termination benefits as it cut 54,000 employees from its payroll in 2001 and 2002. The Lucent pension plan, meanwhile, went from having $5.5 billion more funds in it than legally required on Sept. 30, 2001, to being $1.7 billion "underfunded" on Sept. 30, 2002.

 

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The reason why the selloffs have failed to stick is because the market hasn't been ready, either in price or time.

 

Blackbelt: If you are out there, please tell us if we are at a key Fiber Nacho price area or time interval to be able to safely put on shorts here.

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Jobless Claims Up Unexpectedly Last Week

Thu July 10, 2003 08:32 AM ET

WASHINGTON (Reuters) - The number of U.S. unemployed workers receiving benefits hit its highest point in over 20 years last month, and new claims for jobless aid unexpectedly rose again last week, the government said on Thursday.

Initial claims for unemployment insurance rose by 5,000 to a seasonally adjusted 439,000 last week from a revised 434,000 the prior week, the Labor Department said. Economists polled by Reuters had expected initial claims to edge down slightly to 425,000 from the 430,000 originally reported for the week ending June 28.

 

The department also said the number of unemployed workers who remained on the benefit rolls after filing an initial claim jumped by 87,000 to 3.82 million in the June 28 week, the highest level since February 1983.

 

A Labor Department aide cautioned against relying too heavily on the latest initial claims figure in gauging the jobs market, noting that auto plant shutdowns for annual retooling could be affecting the figures.

 

"I really think we're in a period now when any one week should be interpreted cautiously," he said, adding the four-week moving average of claims would provide a better labor-market barometer. Still, he noted the department's seasonal adjustment process had anticipated the plant shutdowns.

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The department also said the number of unemployed workers who remained on the benefit rolls after filing an initial claim jumped by 87,000 to 3.82 million in the June 28 week, the highest level since February 1983.

The paradox of "productivity" increases and a "strong" dollar - unemployment increases and the economy gets worse.

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I take offense to that crack, personally. You want to hack at bears who were too busy studying charts and fundamentals to GAMBLE on POS's like SIRI et als., then the other IDS board is the place to do it.

The bulls are the PIGS and you know what happens

to little piggies :angry:

 

A Sh*t storm is just over the horizen :lol:

 

3-1 bulls :lol: :lol: :lol:

 

 

Pile Wecome Back!

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