mdporter Posted May 8, 2009 Report Share Posted May 8, 2009 Who in the media started the "green shoots" nonsense? Comparing the market/economy to a plant is idiotic. Plant's can't lie and hide crap in their balance sheets. Peak I agree with you, it certainly feels like march 2003 again. Remember how bears thought it wouldn't last? BAC is a poster bad boy.... it needs $34 billion, stock went up another 5% today. Without government assistance it would totally dead, as would Citicorpse and Wells Fargone. Everything is being done to help these banks, including keeping fed funds rate at zero. The banks are making a four percent or greater spread on lending! Cash deposits on the other hand get nothing except maybe some new fees to pay. Link to comment Share on other sites More sharing options...
shorty Posted May 9, 2009 Report Share Posted May 9, 2009 porter asked last night where the Fed audit is? So here it is. I know that figures never lie, butt seriously....audited by Toiloitte and Douche?! Link to comment Share on other sites More sharing options...
shorty Posted May 9, 2009 Report Share Posted May 9, 2009 Better stock up on the suga' stash "That will be $13.5 for two dozens of glazed specials and $30 sugar surcharge, Mr Shorty...Sir." who the guy gettin' donutboarded? Link to comment Share on other sites More sharing options...
MrHanky Posted May 9, 2009 Report Share Posted May 9, 2009 Sold alot of stuff today Sold another pile of muni's...Bids were awesome,I don't want to wait until rates get too high.Kept a few of the shorter dated notes though. Also dumped a pile of crap low float POS stock for break even,it was too illiquid. sold 15% of my gold position and sold most of my secondaries. Having my best year since 2000,but I can't sleep and am totally stressed (as usual) A few more moves early next week and I will hopefully be mostly cash.I have made so many mistakes and sold almost every position way too early( I have left at least a full years salary on the table in the last few weeks),but at least I have been profitable (or break even) on every single trade since january. Still have some trades that have some risk out there,so I am hoping the trend continues. Link to comment Share on other sites More sharing options...
astral mike Posted May 9, 2009 Report Share Posted May 9, 2009 The more they print, the more the sellers will sell. The more they print (ie create liquidity), the higher the market price goes? The higher the market price the more sellers (shorters) sell untill they are forced buyers? Or are you talking about the bond or currency markets? Link to comment Share on other sites More sharing options...
Jetlag Posted May 9, 2009 Report Share Posted May 9, 2009 who the guy gettin' donutboarded? I think he stole a KKD donut truck or something: http://www.c3ktogo.com/news-video/?mgid=13264 Cops chasing Donuts... makes sense. [flash=425,345]http://www.youtube.com/watch?v=4CkjNwpqRKo.swf Link to comment Share on other sites More sharing options...
DrStool Posted May 9, 2009 Report Share Posted May 9, 2009 http://wallstreetexaminer.com/2009/05/08/f...sional-edition/ Link to comment Share on other sites More sharing options...
DrStool Posted May 9, 2009 Report Share Posted May 9, 2009 The more they print (ie create liquidity), the higher the market price goes? The higher the market price the more sellers (shorters) sell untill they are forced buyers? Or are you talking about the bond or currency markets? The original post to which that was a response was about the Treasury market-- The idea that rising yields can be stopped by more Fed printing is probably wrong, because the more the Fed offers to buy (print) the more the sellers will want to sell. The Fed faces a huge problem which I discuss in tonight's Fed Report. Link to comment Share on other sites More sharing options...
BusKow Posted May 9, 2009 Report Share Posted May 9, 2009 SPX - FWIW Link to comment Share on other sites More sharing options...
Charmin Posted May 9, 2009 Report Share Posted May 9, 2009 Just think, they could of had the semi's working Friday and goosed the market even higher. So, what happened to SMH? http://www.StockSharePublishing.com/ChartL..._1241834805.png Link to comment Share on other sites More sharing options...
vasu Posted May 9, 2009 Report Share Posted May 9, 2009 A market is not a person. Only people can be irrational. Markets are places where goods or intangibles are exchanged at an agreed upon price between buyers and sellers. How can that be irrational? How can a price be a measure of irrationality. Who is the final arbiter of what is rational and what isn't? Buyers and sellers agree on prices. That's all there is, neither rational or irrational. When people have money in their pockets, they buy. When they need or want cash, they sell. Prices change in trends and waves. If the Fed is printing money and dumping it into the primary dealer trading accounts, then the likelihood is that the primary direction of the wave will be up. That's all there is to it. This is the way it has always worked. Trying to relate those movements to something having to do with economic activity is an exercise in irrationality, if you ask me. People are irrational by nature. Most are driven by emotion, not reason. Life is irrational. In fact, it's downright crazy. Anyone who expects the markets to be rational is, frankly, nuts. Some of these raging pundits howling at the moon strike me as raving lunatics. That being said, I do not read other people's work other than the snippets posted here, so I am not passing judgment on the quality of their analytical work. It may be very good. It may not. But there's just no point in being angry about the direction of prices. They are what they are because they measure liquidity flows, which are inextricably tied in with the absolutely normal ebb and flow of human optimism and pessimism. One drives the other and vice versa. That's what cycles are about. This is reality. Stop trying to tell the market what it should be doing, and just look at and see what it is doing. Take what it gives you. Oooooooommmmmmm Oooooooommmmmmm Butttt is not the fed giving money to banksters around march lows? If the liquidity is the only pillar for these gains, how you were advising further lows in march?. MD asked you if we were doing the same mistake as we did at 2003 lows. --- my intention is not pick on you but just want to tell that there is more to market moves than simple liquidity. Link to comment Share on other sites More sharing options...
Charmin Posted May 9, 2009 Report Share Posted May 9, 2009 Looks like the QID is attracting a lot more volume in the last three days. Makes me wonder about the SMH coming off a high with volume too. http://www.StockSharePublishing.com/ChartL..._1241835850.png Link to comment Share on other sites More sharing options...
DrStool Posted May 9, 2009 Report Share Posted May 9, 2009 Butttt is not the fed giving money to banksters around march lows? If the liquidity is the only pillar for these gains, how you were advising further lows in march?. MD asked you if we were doing the same mistake as we did at 2003 lows. --- my intention is not pick on you but just want to tell that there is more to market moves than simple liquidity. Yes, and that was exactly the point I have made in the Fed report and in the Radio Free Wall Street podcasts. If you are a subscriber, all you need to do is look at the Liquidity Supplied to Primary Dealers chart. A picture is worth 1000 words. At the time I said that I wasn't sure what would happen because we were in uncharted waters, but I did say that the unequivocally bearish outlook stemming from an endless barrage of Treasury supply was no longer certain because of the introduction of massive and unprecedented Fed pumping. What more could I have said. This was a new situation, and I don't have a crystal ball for things that are unprecedented. I stated loud and clear at that time that conditions had changed, that the Fed's new pumping policy had changed the equation, and I covered all outstanding short picks by March 13. What more do you want? 100% correct 100% of the time? Sheesh. Link to comment Share on other sites More sharing options...
T_Slim Posted May 9, 2009 Report Share Posted May 9, 2009 Hey Doc, i had some fries with poutine sauce for ya tonight . . . tasty stuff . . . Link to comment Share on other sites More sharing options...
zensmoke Posted May 9, 2009 Report Share Posted May 9, 2009 Regulators seized a Bremerton, Wash., bank late Friday as the financial crisis claimed its 33rd federally insured financial institution of 2009. The Federal Deposit Insurance Corp. estimated that the failure of Westsound Bank would cost its deposit-insurance fund $108 million. Westsound is the second Washington bank to be closed by regulators so far this year. Westsound had total assets of $334.6 million and total deposits of $304.5 million as of March 31. Regulators Seize Bank in Washington State http://online.wsj.com/article/SB124183431681602979.html Link to comment Share on other sites More sharing options...
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