DrStool Posted May 10, 2004 Report Share Posted May 10, 2004 852? new lowsDow down 1.25% Nice work boys Amazing Day after day It's called "positioning." aka "distribution" There is going to be some long faces early next month when the mutual fund statements arrive. "What do you mean my portfolio is down 25%! The Dow is only off 10 %"..... The damage to portfolios must be getting rather extreame. It will be interesting to see what will happen if the masses finally say GMTFO! with funds sitting on record low cash positions. LLD- I hate to be a broken record, but the public will never, EVER sell. They just won't. The vast majority will ride their stocks to zero. It's just human nature. The important thing to keep in mind is that it does not take public selling to bring the market down. All it takes is for one of the major buying sectors to cut back on their normal level of buying. Price is set at the margin. If there is just one less buyer (figuratively speaking), that's enough to get the market going lower. That's why bear markets go down on diminishing volume until they get close to the low. Which reminds me of something else I have said in the past many times. When the poodits on Crapvision are telling people not to panic in the early stages of a decline (like now), that is exactly when selling stocks is the rational thing to do. The talking assholes equate selling with panic. Selling is not panic. It is smart. Sitting there frozen in your portfolio as it melts away, now that is panic. The old deer in the headlights syndrome. Panic, my ass. Link to comment Share on other sites More sharing options...
HiHat Posted May 10, 2004 Report Share Posted May 10, 2004 MWH........i read the earlier link : concern....the real terrorists it makes me seethe........ these little men are monsters......i for one hope to live long enough to witness their faces ripped off in a little instant karma. Link to comment Share on other sites More sharing options...
stained jeans Posted May 10, 2004 Report Share Posted May 10, 2004 I read it, too. Excellent, Madame. Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 Bet this one gets bloodied tomorrow [NMHC] NATIONAL MEDICAL Q3 NET LOSS $11.17 VS NET EARNS 22C Link to comment Share on other sites More sharing options...
stained jeans Posted May 10, 2004 Report Share Posted May 10, 2004 Today's test of the March low was a carbon copy of 1987. Watch out for the head fake tomorrow -- target 1105 Spoos. Link to comment Share on other sites More sharing options...
Lock Limit Down Posted May 10, 2004 Report Share Posted May 10, 2004 Doc "I hate to be a broken record, but the public will never, EVER sell. They just won't. The vast majority will ride their stocks to zero. It's just human nature." Yes you are absoloutly correct... But they will sell once bills are due or the mortgage is in danger of going into default because credit is maxed out and making ends meet is a thing of the past. How close we are to that point is the question. Margin calls could be making an appearence shortly as well with the publics position at all time record highs on that end. However, I have noticed in the past, just when one thinks margin calls will bring the house of cards down, in comes the stick save so forget I even said that..... Link to comment Share on other sites More sharing options...
wndysrf Posted May 10, 2004 Report Share Posted May 10, 2004 Doc"I hate to be a broken record, but the public will never, EVER sell. They just won't. The vast majority will ride their stocks to zero. It's just human nature." Yes you are absoloutly correct... But they will sell once bills are due or the mortgage is in danger of going into default because credit is maxed out and making ends meet is a thing of the past. How close we are to that point is the question. Margin calls could be making an appearence shortly as well with the publics position at all time record highs on that end. However, I have noticed in the past, just when one thinks margin calls will bring the house of cards down, in comes the stick save so forget I even said that..... To look at Real Panic, just look at the XAU. Nobody sells until we reach the lows. Now everyone is selling at once, all at the same time. Joe Six will follow Al Green and Larry Kudlow all the way down. Just like the Gold Bugs followed Jim Sinclair and Bill Murphy all the way down, only to panic out at the worst possible moment. I'm not saying that gold is in a bull market, but a huge bounce is due any day, due to the extreme sentiment readings of only 4.3% bulls according to Whispernumber.com Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 Hey Doc, I just got this Email and thought you might be interested. My Dear, My name is FRANK BELLO,I am 24yrs old and a student.Please I would like you to assist me as urgent as you can before they kill me.My father was a wealthy cocoa merchant.Trouble began early last year when my father's associates start suspecting that my father is not giving proper accounts of all the tons of cocoa being cultivated by local farmers in some villages.This mistrust deepens between oct-sept, 2001 when they discovered a very bigsome of money my father deposited with a security company in ABIDJAN-IVORY COAST. As a result of this discovery and the enviness of the money ,he was poisioned by his associates.At his hospital bed ,he revealed to me the reasons of his sickness.He directed me where to get the documents of the said deposit, that he made me the next of kin being the only child.He advise me that if he dies , that I should not stay in the country because his associates will equally kill me hence my mother died five years ago of breast cancer. He directed me if he dies that I should look for a foreign partner who will help me to transfer the money into the person's account and the person will help me to invest the money in that country. My father finally died on 5th of November and since then I was out of school and went into hiding because of my father's associates. All the relevant documents of the $9.5 (million five hundred thousand dollars) that was deposited in a security company are with me now .I ready to give you 20% of this money and 5% will be set aside for any expenses we both may incure,if you can help me bring out this box from the security company and transfer this money into your account for onward investment in your country. Please contact me immediately with the above telephone number or E-mail address and include your telephone and Fax number to enable me send you all necessary documents as regards the money before they kill me. please this transaction is 100% risk free. I'm waiting for your urgent reply.Best regards,Frank Bello. Link to comment Share on other sites More sharing options...
brian4 Posted May 10, 2004 Report Share Posted May 10, 2004 We don't have to bounce here-we are not Dover Sole, the 7 day p/c ratio is benign, the fear indicies are at all time lows for a decline of this magnitude, the $ is moving up which kills earnings for the multi-nationals, the technicals all point down and momentum and new lows continue to expand and most importantly (along with the trend is your friend) we have not had capitulation by any measurement. Being early will lose you money ( be it profit or your own) every time. Link to comment Share on other sites More sharing options...
Hiding Bear Posted May 10, 2004 Author Report Share Posted May 10, 2004 Doc"I hate to be a broken record, but the public will never, EVER sell. They just won't. The vast majority will ride their stocks to zero. It's just human nature." Yes you are absoloutly correct... But they will sell once bills are due or the mortgage is in danger of going into default because credit is maxed out and making ends meet is a thing of the past. How close we are to that point is the question. Margin calls could be making an appearence shortly as well with the publics position at all time record highs on that end. However, I have noticed in the past, just when one thinks margin calls will bring the house of cards down, in comes the stick save so forget I even said that..... As far as the general public and their retirement plans, no they will never sell. The only new sellers that we didn't have before are those who decided it would be nice to invest a lttle in the market after their home financing netted them out some new funds. I'm not saying that many specifically borrowed more just to buy stocks, but looking back over 2003 and early this year we see that money going mutual funds exceeded net savings - so it had to come from borrowed money. The real negative here is not that there could be marginally more sellers, but a borrowing source to use to buy more stocks has been removed (see MoGauge report for more details). On another subject, the continued levitation to facilitate distribution will actually prolong the down trend and make it better - and easier - for bears to make money. Bear fund holders should not even think of selling yet. Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 Glaxo/Bayer impotence drug works in 10 mins -study 5/10/2004 4:17:35 AM LONDON, May 10 (Reuters) - Speed of action is more important than duration for many men using anti-impotence treatments and Levitra, a new rival to Viagra, can work in just 10 minutes, researchers said on Monday. Ummm, might be good for a straddle, puts on PFE and calls on BAY. Why wait when you can have instant gratification. Kind of like the market today quick 10 minute boners that didn't last until the end of day. Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 6:22pm 05/10/04 Gateway's Q1 loss increased by 2 cents a share (GTW) By Shawn Langlois SAN FRANCISCO (CBS.MW) -- PC maker Gateway (GTW) said late Monday that its first-quarter loss came in 2 cents a share wider than the preliminary loss of 51 cents announced April 29. Gateway cited an increase in a reserve related to a patent-infringement claim. Shares were little changed in after-hours trading. Link to comment Share on other sites More sharing options...
brian4 Posted May 10, 2004 Report Share Posted May 10, 2004 I posted this morning that Bernie Schaeffer who went long on day one of the rally today went both short and long term Bearish. In his evening market wrap he has a commentary which details why. On another note tomorrow one of the great house of card, bloated pigs-"Crisco" reports. Old "beat by a penny" Chambers will slather himself with snake oil and enter the confessional-I say "Crisco" falls on its sword tomorrow and drags the sox and smh down into the gutter on Wednesday. Soooo I am shorting both in the morning. Link to comment Share on other sites More sharing options...
Guest Posted May 10, 2004 Report Share Posted May 10, 2004 Regulators widen probe into Putnam WASHINGTON (CBS.MW) -- Regulators have widened their probe into the mutual fund practices of Putnam Investments, issuing subpoenas for more information about certain deferred compensation plans between the firm and its pension and retirement-plan clients. http://aolpf5.marketwatch.com/news/story.a...7D&siteid=aolpf Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted May 10, 2004 Report Share Posted May 10, 2004 HH and SJ: Thanks, I thought it was good too. Funnily enough, my dad sent it to me after having read it in the South African press. One often picks up decent alternative journalism there. Link to comment Share on other sites More sharing options...
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