joe3pack Posted October 3, 2008 Report Share Posted October 3, 2008 some strategy for the coming days: i think i'll try riding AIG again after the next plunge. DXO getting closer to the single digits. waiting for crude to get in the 80 to 88 range before getting friendly with DXO. mentioned IYR a few weeks back then forgot to keep an eye on it. multiyear shport @ 55 has broken, so SRS should accelerate to the upside--it could fly to 120 in a wicked flash. will exit hefty FXP position when i smell panic. $vix not giving it up yet. dowager -778? we can do better in the coming week. shtrive for bicturry and suckshess, we'z bin told. but beware the reversal. Link to comment Share on other sites More sharing options...
mdporter Posted October 3, 2008 Report Share Posted October 3, 2008 I understand why your mad, but does the alternative canidate have any better understanding of the scope of the mess. Do they have any solutions. I apologize if this is to political, but I haven't heard much understanding come out of the mouths of any congresscritter in the past few weeks. It seems to me we need to look for brains and the ability to be quick studies on complex issues in the next crop of critters we send to DC. They will be challenged and tested by this mess. 695977[/snapback] I don't know, but I am going to try to find out. Link to comment Share on other sites More sharing options...
Goldmember Posted October 3, 2008 Report Share Posted October 3, 2008 That's the spirit! Buy some schlocks on margarine and a new set o' Super Swampers on that puppy! It's all good! Gas is cheap again! Woohoo!!! 695983[/snapback] "but honey...by the time the credit card bill comes in for the new tires and your new fall wardrobe we'll already have sold our RIMM, GOOG, APPL and Quackcom calls by opex! We'll be rich,,,rich I tell ya" Link to comment Share on other sites More sharing options...
mdporter Posted October 3, 2008 Report Share Posted October 3, 2008 I got caught on the wrong side today,first time in A while.I knew we would gap and crap and I still went long! Nothing too serious (still up for the year),I closed the position and learned another lesson. The lesson I learned?After all is said and done,I coulda done the same or better in a CD and not stressed myself out the last few months trading. To prevent me from making any mistakes I will regret,I will go back to 100% CD's.Hopefully I can get some decent yield sometime soon.... 695981[/snapback] Hanky, Earlier this week you were talking about Closed End Fund... do you have any resources on those for further learning?? Link to comment Share on other sites More sharing options...
Jetlag Posted October 3, 2008 Report Share Posted October 3, 2008 From Richard Russell- Yesterday the negative spread between Lowry's Selling Pressure and their Buying Power Index widened to a record 602, which is a major bearish situation. 695986[/snapback] It's starting to look like one of those crash or bounce moments. Stocks aren't cheap valuation wise so I'll be conservative sizing any speculative long entry play on a bounce. On the downside there's lots of room before stocks become cheap and the economy gives signals of turning up. Link to comment Share on other sites More sharing options...
Sudaca Posted October 3, 2008 Report Share Posted October 3, 2008 Goldman Sachs sez Fed to cut 100bps Link to comment Share on other sites More sharing options...
mdporter Posted October 3, 2008 Report Share Posted October 3, 2008 SRS had a nice day, might nibble on it. It managed to close above the 200 line. Link to comment Share on other sites More sharing options...
capitall Posted October 3, 2008 Report Share Posted October 3, 2008 Goldman Sachs sez Fed to cut 100bps 695995[/snapback] http://www.bloomberg.com/apps/news?pid=206...pKjU&refer=home Well, they should know. The Treasury Sec is from there. And the Treas. Sec. seems to tell the Fed what to do lately. The Fed supplies the coffee. Link to comment Share on other sites More sharing options...
drwells Posted October 3, 2008 Report Share Posted October 3, 2008 I feel sick right now, and I don't think it was the lousy bratwurst I just ate. Nice little decline at the close. Too bad, so sad. In other news there is apparently alot of crap in the bailout bill. Tinfoil hat wearer Ron Paul points out today that it looks like banks have had their reserve requirements eliminated: link to article 695943[/snapback] Thank you for bringing that up. I'd heard it before, but I thought it had already been done. However, I was wrong: http://www.hussmanfunds.com/html/fedirrel.htm "...a change came in the 1970s with the emergence of money market funds, which require no reserve requirements. Then in the early 1990s, reserve requirements were dropped to zero on savings deposits, CDs, and Eurocurrency deposits. At present, reserve requirements apply only to "transactions deposits" - essentially checking accounts. The vast majority of funding sources used by banks to create loans have nothing - nothing - to do with bank reserves." http://www.dailypaul.com/node/66109 "The changes eliminated the requirement for banks to keep reserves of cash on hand to cover deposits..." I went to my bank (WaFed, the strongest bank in the nation) a year ago and asked if I would be able to liquidate my IRAs (about $100K) and get cash if needed. They laughed. Another major aspect of this bailout seems to be that the Treasury can buy foreign crap as well as domestic. As I understand it, though, Volcker secured that privelege for the Fed years ago: http://www.goldensextant.com/SavingtheSystem.html "The monetary control provisions of Title I strengthened the Fed in two ways. ... Second, they expanded the list of ?eligible collateral? for the Fed?s Open Market operations to include assets, such as foreign securities, that were previously not eligible for purchase." Timberlake's book "History of Monetary Policy in the U.S." suggests that Volcker did this to let the Fed buy a bunch of bad LDC debt held by his buddies at Citigroup. Anyway, welcome to socialist fantasyland. Link to comment Share on other sites More sharing options...
Jetlag Posted October 3, 2008 Report Share Posted October 3, 2008 Goldman Sachs sez Fed to cut 100bps 695995[/snapback] Let me ask a stupid question. If banks are hoarding cash (not lending any and more importantly not borrowing more from the FED!!?) can they lower the Fed Funds? Or is my interpretation of hoarding cash wrong? Are they borrowing more from the FED? What for? Link to comment Share on other sites More sharing options...
Brisbane Bear Posted October 3, 2008 Report Share Posted October 3, 2008 In Oz THE 1/2 POINT RATE CUT IS A GIVEN NEXT WEEK,NOW SOME ARE SPECULATING ON 3/4 POINT CUT. I suspect it will be the full 1% by Tuesday. Panic is spreading like wild fire. Funny how it happens so fast. One minute everything is OK. Next minute it is RUN FOR YOUR LIFE'S!!! Link to comment Share on other sites More sharing options...
mdporter Posted October 3, 2008 Report Share Posted October 3, 2008 Sold my 100 shares of an option grant at $16.50 recently. Looks like I made a good choice! Link to comment Share on other sites More sharing options...
jickiss Posted October 3, 2008 Report Share Posted October 3, 2008 jickiss is back! jickiss is back! and, suggests, directly that it is time to Dong DGP. for the reason that the mass mind might consider, over this weak end, that mayhaps the 750 Billion is not worth very much in the context of Bigger Issues. Eventually, of course, gold will be used to Really Save the system. Expecting a nice rally now in DGP. here be the chart, you decide if the divergences and the indicator action show the way to a rally....by the way, any cut in interest rates could also help push gold up....who did they say was the other side of Sheeple Dumping Trades of Gold and Silver and Miners and Miners Related this week????? jickiss!!!!!!! Link to comment Share on other sites More sharing options...
Brisbane Bear Posted October 3, 2008 Report Share Posted October 3, 2008 This guy lives in La La land... Financial Crisis: European co-operation will lead us to safety Also the EU can act as the focal point for communication between national governments. Across Europe, several banks have been nationalised and due to financial interdependence, it is imperative that the EU is informed of any action, so that all member states are aware of the situation. Ireland's proposal to guarantee its six major banks, followed by similar action from Greece, without consulting its EU neighbours is fraught with danger. There is a real case for an EU-wide agreement on guaranteeing saver's deposits. While there are practical problems which have to be overcome to reach such an agreement, what is clear is the folly of having different sets of rules in each country. Such activity distorts the market and that is why what the Irish government did was unhelpful. http://www.telegraph.co.uk/finance/finance...-to-safety.html Link to comment Share on other sites More sharing options...
Brisbane Bear Posted October 3, 2008 Report Share Posted October 3, 2008 This guy lives in the 'real' world.... Greece joins bailout stampede as Germany vows no blank cheques The Greek move puts fresh pressure on Germany to back the mounting calls for an EU lifeboat fund to shore up Europe's struggling banks, even though such a plans are anathema to Berlin. Chancellor Angela Merkel warned that there would be no "blank cheques" for those who get into trouble. Berlin fears that any such fund is a Trojan Horse that could ultimately leave German taxpayers footing the bill for a massive bail-out of the southern Europe as the region's booms turn to bust. Key ministers are now frantically trying to stop the idea gaining a serious head of steam. Finance minister Peer Steinbrueck said German citizens should not have to step in "to stabilize situations for which other countries are responsible. To put it mildly, Germany is highly cautious about such grand designs for Europe. Other countries are free to think about it. I just don't see any German interest in it," he told the Wall Street Journal. http://www.telegraph.co.uk/finance/finance...nk-cheques.html Link to comment Share on other sites More sharing options...
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