Bungster Posted June 29, 2009 Report Share Posted June 29, 2009 Man, only 4 pages on IDS? These markets are boring me to tears. Props to Hanky for calling it right. Patience bears . . . patience . . . PATIENCE?! Link to comment Share on other sites More sharing options...
capitall Posted June 29, 2009 Report Share Posted June 29, 2009 We need more like this guy...make your money and then try to do some good with it... http://www.cbsnews.com/video/watch/?id=511...entBody;housing True, dat. Thanks for that program. Fascinating. Link to comment Share on other sites More sharing options...
T_Slim Posted June 29, 2009 Report Share Posted June 29, 2009 PATIENCE?! that about sums it up for the past few weeks . . . Link to comment Share on other sites More sharing options...
snorkels4 Posted June 29, 2009 Report Share Posted June 29, 2009 breaking news atilla crapitulating, maybe Link to comment Share on other sites More sharing options...
Jetlag Posted June 29, 2009 Report Share Posted June 29, 2009 breaking news atilla crapitulating, maybe Oh Gawd, please say it isn't so "A daily close far away from 900 tomorrow would be quite alarming in terms of trend violations and makes Wednesday's open very important." that would be wildly bearish. But wait! There's more!! "Staying short, waiting the market to timely react to the setups I am following. " Uff, that was close Link to comment Share on other sites More sharing options...
Bungster Posted June 29, 2009 Report Share Posted June 29, 2009 Oh Gawd, please say it isn't so "A daily close far away from 900 tomorrow would be quite alarming in terms of trend violations and makes Wednesday's open very important." that would be wildly bearish. But wait! There's more!! "Staying short, waiting the market to timely react to the setups I am following. " Uff, that was close Stay long until Attila becomes a Walmart greeter... Link to comment Share on other sites More sharing options...
Jimi Posted June 29, 2009 Report Share Posted June 29, 2009 Spent the weekend reading about the California budget crises. The consensus in the newspapers is that the situation is unfixable and drastic measures will be needed to bring long term prosperity to the state. All the newspapers ran Prop 13 hit pieces over the weekend in a coordinated attack on property tax limits. Every article I read ignored the fact that the huge runup in values over the last several years brought a bonanza of new property tax money to city and state budgets, all of which was spent as fast as it came in. Now we are in an unreality. Nobody wants to make the deep cuts required. Nobody wants to admit the party is over. Anyone who dares layout a plan of budget cuts is instantly labeled as being against Children, the Elderly, Education, or whatever. The drumbeat theme is to Raise Taxes on the Rich. In California the Rich are practically funding the entire budget already. California already has pretty much the highest state taxes in the nation. So it isn't looking good. The budget deadline is this Friday. My guess is that we get to Friday with no budget, then insanity reigns in the capitol building. Yup. Crawling toward chaos. Of an orchestrated kabuki sort. This is going to come down to a game of chicken between Sacto & DC, with the former effectively railroading the latter into loan guarantees. It can end no other way: letting CA explode will only derail DC efforts to reflate the economy. Sacto knows that. Everyone knows that. DC is bluffing: if AIG & Citi & Fannie are too big to fail, so too the municipal bond market. The Fed will bring the states' obligations on book. I don't know what happens thereafter.... Link to comment Share on other sites More sharing options...
Bungster Posted June 30, 2009 Report Share Posted June 30, 2009 Oh Gawd, please say it isn't so "A daily close far away from 900 tomorrow would be quite alarming in terms of trend violations and makes Wednesday's open very important." that would be wildly bearish. But wait! There's more!! "Staying short, waiting the market to timely react to the setups I am following. " Uff, that was close Let's see how Carl Fuscia is doing.... http://carlfutia.blogspot.com/ Here is a 15 minute bar chart of e-mini day session trading. I think tomorrow's day session range will be about 12 points from 918 to 930 (blue rectangle). There is strong midpoint support near 913 and if the eminis are headed for 965-980 on this trip as I think they are this support should hold. Link to comment Share on other sites More sharing options...
Bungster Posted June 30, 2009 Report Share Posted June 30, 2009 Yup. Crawling toward chaos. Of an orchestrated kabuki sort. This is going to come down to a game of chicken between Sacto & DC, with the former effectively railroading the latter into loan guarantees. It can end no other way: letting CA explode will only derail DC efforts to reflate the economy. Sacto knows that. Everyone knows that. DC is bluffing: if AIG & Citi & Fannie are too big to fail, so too the municipal bond market. The Fed will bring the states' obligations on book. I don't know what happens thereafter.... Well, we are gonna need a lot of wood for the Sacramento barbeque..... Link to comment Share on other sites More sharing options...
Jorma Posted June 30, 2009 Report Share Posted June 30, 2009 The Madoff scheme has little relation to our systematic predicament as far as the nuts and bolts of the operation go. However in one crucial way they are exactly the same. Investors had put in, apparently, around $16 billion. Bernie said that had grown to over $50 billion. It hadn't. It wasn't there. The degree of isn't there is not so bad in the banking and financial system but still, a lot of the money printed on those screens isn't there. Link to comment Share on other sites More sharing options...
cwd Posted June 30, 2009 Report Share Posted June 30, 2009 Here is a rant from CNBS this morning. I think you have to change the url to Crapvision to make it work. Rick S and another Chi trader complaining about the gov interventions in the markets. Old billionaire Wilbur Ross chimes in 'Washington is the new Wall Street.UFB CNBS Link to comment Share on other sites More sharing options...
shorty Posted June 30, 2009 Report Share Posted June 30, 2009 jickiss is back! jickiss is back! and A 40% PERMA REDUCTION IN SALARIES, BENEFITS, PENSIONS, ETC, FREE DENTAL, FREE NUT CONSULTATIONS, ETC, how 'bout 100% ? PLUS reparations paid back to the fleeced taxpayer victims, with interest and penalties, on all their previous years of public tit sucking Link to comment Share on other sites More sharing options...
Charmin Posted June 30, 2009 Report Share Posted June 30, 2009 Tim Ord believes that the 930-940 area would be the "Danger Zone" with a right shoulder to develop through this week, especially if we are in distribution. http://www.ltg-trading.com/20090626.doc Link to comment Share on other sites More sharing options...
quanta Posted June 30, 2009 Report Share Posted June 30, 2009 Posted on Political Stool Take your own medicine Why do I even bother putting it there... Link to comment Share on other sites More sharing options...
TenaciousG Posted June 30, 2009 Report Share Posted June 30, 2009 Posted on Political Stool Take your own medicine Why do I even bother putting it there... This video needs to be played on every major station during prime time at least as many times as the Viagra commercials. That should create real change we can all believe! Thanks for the video! Link to comment Share on other sites More sharing options...
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