mdporter Posted August 15, 2009 Report Share Posted August 15, 2009 Ags, welcome back. Who or what is the "BD"? Link to comment Share on other sites More sharing options...
cwd Posted August 15, 2009 Report Share Posted August 15, 2009 Jimi, That was me. And thats Mark. He didn't respond to me but no one writes like he does. I was restricted from posting by my BD which I just cut ties with two weeks ago. That's why I left Stool. I'm done after 17 years of following bubbles. When Doc started up the Wall Street Examiner, my BD wanted me to give them everything I wrote for approval before I posted something so I said F it. That's when I stopped posting everywhere. Prior to that it wasn't such a big deal. Now if you fart in your car, you have to report it to them if it was 10 second three note fart or a 3 second squeaker. It got ridiculous. If you volunteered to coach little league it had to be on your outside business activity report. As for that farking money market...there are still millions of people with frozen funds in The Reserve at numerous firms...( the fund that broke the buck when Lehman was sacrificed at the alter of Goldman Sucks). The Reserve were dick heads because they let people out for two days at a buck before they told the rest of the world they were holding LEH confetti. From September to January it was the worst period of my life. Government funds were frozen, Tax Exempts...no access to any cash. Now they BD is dealing with two ponzi's in addition to 11 % of frozen money market funds from last September. I got pretty vocal about the way everything went down and was told to take a hike so I decided to leave the business after 17 years. Fortunately my exposure was minimal to the Reserve and people were in good shape when I left. Some of the stories I've heard about what brokers did and are facing are mind boggling. This ain't over by a long shot. I just found my password and was surprised it still worked but have been reading the site for ever since I left. Sorry about Lee Wee also....that really sucked. This being the third bubble in 10 years( it's a pattern now).....I've concluded this is so wrecked it can't exist unless it's a mania and when it's not in one...it crashes. I don't even call them bull or bears...just bubbles and crashes and I imagine this one gets into loony mode before it ends again. The ass hats running this zero percent forever clown fest are using gimmicks and rising stock prices to 'create" or 'force" economic activity. The "i want it back now' society would never wait for a U bottom.....so they are attacking psychology via the devil channel to draw the herd back in. We are going into the greater fool phase of the 'Gimmick Bubble".......We haven't gotten to the point where Jimmy Jones waves a bag of dog sheet over his head and auctions it off on Ebay for a million dollars but he can bark out a few letters again and set off the squirrels in a pile of nuts action. It's like when Austin Powers got his mojo back from Dr. Evil. But.... he'll end up like this again.... Glad to see you back. Link to comment Share on other sites More sharing options...
capitall Posted August 15, 2009 Report Share Posted August 15, 2009 Ags, welcome back. Who or what is the "BD"? I assume it stands for Broker/Dealer, apparently Ag's former contract employer. Link to comment Share on other sites More sharing options...
cwd Posted August 15, 2009 Report Share Posted August 15, 2009 I assume it stands for Broker/Dealer, apparently Ag's former contract employer. Any hints on the BD? Link to comment Share on other sites More sharing options...
phatbubble Posted August 15, 2009 Report Share Posted August 15, 2009 Good to see you Ags. Link to comment Share on other sites More sharing options...
Ags Nightmare Posted August 15, 2009 Report Share Posted August 15, 2009 Thanks all...It's good to have my freedom back and BD is broker dealer. I think we are at the stage where the people who are still sitting in cash earning Helo Ben's " zero percent for the unforeseeable future" are getting pissed off that their barber and loud mouth neighbor are bragging about making 500 % in Alcoa, Sheetygroup and Ford the last three months. The markets are being pinned so that when the late to the party herd comes back in they are gonna have to pay up. The last two bubbles were the same way so there is no telling how high they jam this but the crooks are "discounting" one hell of a lot of growth for a country that doesn't make sheet other than debt. There are a ton of warning signs out there but no one cares right now. Just got back from golfing and everyone was asking if I sell when do I buy back in ??? So they are afraid to sell and miss more up after getting shanked repeatedly over the last decade. Nothing ever changes. Also the bullish propaganda on the devil channel would make Goebbels proud. As much as I hate that place it is a good gauge to see how oblivious to risk the masses are. Short term 9600 and 1050 are area's I'm looking to short but only small positions with tight stops. This is a very dangerous area where both sides have no clue whats next cause what the Fed is doing is unprecedented and we are coming up on a lot of overhead resistance soon. Another comical gauge of sentiment is Lost Money.....these clowns every night are saying..."you gotta own it."..' " you just gotta be in this space" ( mania bullsheet language)......"you gotta love it folks...you just gotta have it" .....then the next day all the monkeys are selling the close in the mid day Lost Money blab fest...then the same crap they just told you to sell,,,they say..."you gotta own it" after hours. They are like a bunch of breathless ferrets on crack. As for Cramit.... Link to comment Share on other sites More sharing options...
mdporter Posted August 15, 2009 Report Share Posted August 15, 2009 They are like a bunch of breathless ferrets on crack. That ferrets comment is a classic! Link to comment Share on other sites More sharing options...
T_Slim Posted August 16, 2009 Report Share Posted August 16, 2009 That ferrets comment is a classic! I agree. Link to comment Share on other sites More sharing options...
Charmin Posted August 16, 2009 Report Share Posted August 16, 2009 We are going into the greater fool phase of the 'Gimmick Bubble" I like that term for the present situation - as in a better than expected, cost cutting, nationalizing gimmick bubble. Link to comment Share on other sites More sharing options...
Charmin Posted August 16, 2009 Report Share Posted August 16, 2009 And from family and friends observations - there is no recovery. Family #1: Fired from Sun Microsystems after 27 years - now drives parts across Denver for a car dealer part time. Friend #1: Services computer systems at manufacturing plants in Vermont and Mass. - there are layoffs, cutbacks, lost hours, declining income Friend #2: Building contractor finds only available construction with government contracts to build subsidized housing. Framing per square foot down to levels not seen in 20 years. No profit. Difficulty in beating out others in bidding process. Family #2: Layed off from Hurd Window Manufacturing in Wisconsin after bankruptcy. Given stipend and schooling to get re-educated in another career. No work. The pension guarantee had to assume pensions for this business. Family #3: GM auto-worker now has to travel many miles to Ohio from lower Michigan to keep his position. Family #4: Self employed after buying up many homes in Wisconsin in last 20 years to rent out. Many tenants cannot keep their rent payments current. Family #5: Iowa Dairy farmer is getting very low rate for milk and suffering loss of income. Friend #3: After moving from one home to the next in the last 20 years their current residence has been on the market for two years and they are in debt on the current one. In prior years they were not. Friend #4: Self employed auto mechanic with a busy business claims low profitability and gets free health care from a community access plan. Should I go on? Link to comment Share on other sites More sharing options...
Yaryman Posted August 16, 2009 Report Share Posted August 16, 2009 I still remember how Mark (Windy) wrote daily of how all the risk of those now toxic loans were being off loaded to another planet or distant parts of the universe. It turns out you can't off load the risk of crappy loans to another planet. Who knew? Most likely everybody making money with the loans knew. Link to comment Share on other sites More sharing options...
Yaryman Posted August 16, 2009 Report Share Posted August 16, 2009 "Windy is back in business at ZH." I'm so out of the loop, what is ZH? Link to comment Share on other sites More sharing options...
alceringa Posted August 16, 2009 Report Share Posted August 16, 2009 "Windy is back in business at ZH." I'm so out of the loop, what is ZH? http://www.zerohedge.com/article/classic-p...crank-and-shank Link to comment Share on other sites More sharing options...
Ags Nightmare Posted August 16, 2009 Report Share Posted August 16, 2009 "I like that term for the present situation - as in a better than expected, cost cutting, nationalizing gimmick bubble." The outright failure of the Making Homes Less Affordable program led to the Hu Flung Poo moment with Cash for Clunkers being the object that stuck to wall. CNBS has been running with "whats gonna be the next cash for ......?" garbage already. Now people are just gonna wait for the next blue light special instead of buying outright cause they like "thinking they are getting free stuff' when in fact they "were" debt free before the car they once had had it's engine disabled. ( the cars had to be owned free and clear)....Then they walked out the door with keys in hand, more debt and a car payment. This self employed carpenter traded in his functioning Dodge pick up and got a real steal.... Link to comment Share on other sites More sharing options...
quanta Posted August 16, 2009 Report Share Posted August 16, 2009 Swenlin on the Bull Market On Tuesday of this week our long-term model for the S&P 500 switched from a sell to a buy signal. While it is a simple model -- the signals are generated by the 50-EMA crossing over the 200-EMA -- it can also be very effective, capturing a gain of 28.7% over a period of 580 calendar days. During that period the S&P 500 lost -28.5%. Past performance is no guarantee of future results. In fact, like any trend following model it is subject to whipsaw, and will be unprofitable in some cases. It probably will not be fast enough to sidestep to sidestep a surprise crash, such as we had in 1987. ... Bottom Line: A new long-term buy signal was generated this week, which means that we are technically in a bull market, and that bull market rules apply. The failure of new highs to confirm the rally is a mechanical issue, not a demonstration of internal weakness. Link to comment Share on other sites More sharing options...
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