PPT Stick Save

[wndysrf]

Multiple stick saves, no selling volume.

 

Yet another doji day reversal, orchestrated by the Working Group.

 

What else is new??

 

The Perma-Bounce Market. No unfilled gaps allowed. No resistance, only support.

 

VIX and VXN unchanged on the day.

 

Repeated "Buy The Dip Hysteria" +1000 TICKS into the close.

 

Now, More Than Ever.

 

Wall Struck Journal getting more interesting:

 

Page C1 headlines:

 

"More Investors Buy Into Rally"

"Trading Activity Rises at Online Firms"

"Does This Bull Have Legs"

 

Retail Riverboaters are now wading into the treacherous waters.

 

"European Insurers Flee From Stocks. Allianz, Swiss Re, Zurich have been dramatically cutting their stock positions. Many have cashed out, switched to bonds or hedged their equity portfolios. So if ever there is a strong bounce back on the markets, they are not going to be in a position to cover to where they were before."

 

What does that mean? Short covering??

 

Another article documents the huge amount of yen selling and dollar propping by the BOJ. Yet another example of governments trying to outmuscle the market.

 

Where would the dollar and yen be without this intervention??

 

On the insider selling front:

 

ADTN CEO continues to win Market Timing Awards.

 

He blew out about $50 million at the last top in January, and last week, he sold a stunning $160 million, close to or at the May top.

 

Today's Riverboat Favorite was BIO, up 12% on the Mad Cow Hysteria.

 

Another one of many stocks ignoring the bear market, a life of its own. Another stock chased by 4,587 Mutual Fund Managers and 8,749 HedgeHog Managers, all on the same day.

 

Take it away, Riverboaters

[The End]

http://www.capitalstool.com/forums/index.p...=ST&f=17&t=2581

 

Good night all. I need to rest.

[BartTheBear]

Butch Cassidy: Ah, you're wasting you're time. They can't track us over rocks.

 

Sundance Kid: Tell them that.

 

Butch Cassidy: [after looking for himself] Who are those guys?

[Bearbones]

Maniacal activity in the bond market. Long bond goes from 4.4% to 4.35%, a more than 2% move. Three month Libor rate inverts with the two-year treasury-a typical sign of economic weakness. The FEED is backed up against the wall.

The bond bull is still alive after more than 20 years.

[wndysrf]

HPQ beats by 2 pennies on Pro-Forma earnings.

 

Thank you, Carly......

[BartTheBear]

Anything that even remotely involves a PC or server turning green AH.

[Quicktrade]

HPQ beats by 2 pennies on Pro-Forma earnings.

 

Thank you, Carly......

HPQ up .76 and climbing in AH ahead of the CC. QQQ holding 27.80 AH

[wndysrf]

Yep, they won't even let us buy on the open to catch the other side of today's doji.

 

As usual, only a gap up will do to get the Greyhounds moving.

 

MSFT, DELL, INTC, HPQ all heavy green AH.

 

Maybe Carly will drop a bomb on future guidance later......

[richmtn]

HPQ beats by 2 pennies on Pro-Forma earnings.

 

Thank you, Carly......

HPQ up .76 and climbing in AH ahead of the CC. QQQ holding 27.80 AH

Yep HPQ goes ballistic. No fear. The "What Me Worry Market".

 

Uncle Buck still not feeling well. But who cares.

Greenie has the Japanese pants down around their ankles and is f*ing them good.

They buy deflating dollars and then buy our bonds with them. They will get F*ed coming and going.

 

[richmtn]

A thought. I hope it don't get lonely. At least I won't have one of those sticky things in my head.

Maybe we take the Yen from the Japanese and use it to buy GOLD. We accumulate gold and reflood the market with Yen. Bwahahaha.

Greenie the equal opportunity f*er.

 

Better yet cut out the middle man.

Print dollars and buy gold.

[flockofsheeples]

I sell copier/laser printer toner to one of DZTK subsidiaries-actually, did should be the word as they filed CH11 2 weeks ago. Rumour has it that they stiffed HP for about $90 million. Think they'll mention it on the ccall?

[BeerMarket]

Wind broken

[anjing bau]

that was the best chart to illustrate your point?

[wndysrf]

Realist:

 

I'm with you on CALVF. I also loaded up on DROOY, WHT, VGZ, into my Screamers Portfolio.

 

Just a 50 cent move will make me more money than trying to short ridiculous "beat by a penny" hookers like the HPQ Gap-O-Rama.

 

No sense in trying to short this market, unless you are super quick and fast to cover.

 

Throw five darts on the ISLAND 20 book. Short all five. Two of the five are guaranteed to squeeze you for 25% at some point.

 

Not worth it.....

[TheDeepBlueSea]

An excerpt of an excerpt from Jim Roger's new book: Adventure Capitalist.

 

The Daily Reckoning PRESENTS: The world's best capitalists...

are in Communist China. An excerpt from Jim Rogers new book:

Adventure Capitalist

 

 

THE WORLD'S BEST CAPITALISTS

By Jim Rogers

 

 

The Chinese work from dawn to dusk.

 

But not only do they work hard, they also save and invest

more than 30 percent of their income. We in America at the

moment save about 1 percent of our income. It is because the

Chinese work so hard and save so much of what they earn that

their economy is growing faster than ours.

 

In the city of Zhengzhou I observed the Chinese work ethic in

action in its most simple and primitive form: the

attentiveness of a waitress, Mae Wang.

 

Employed by one of the restaurants in town, her behavior was

simply an exaggeration of that which was typical of all the

workers in China. Mae Wang, when a restaurant patron caught

her attention, literally ran to the table to be of help. Like

a sprinter. Across the room. She ran to see what she could do

to serve you. For me she was something of a metaphor, a

motif, if you will, stated as part of an overture to the

symphony of Shanghai.

 

Shanghai lay before us like Oz. We were approaching what I

predicted would be the Emerald City of twenty-first-century

capitalism - within our lifetimes. Zhengzhou was the first

stop on the beeline we were now making for the city. Nanjing

was the final stop. In Nanjing, I looked out our hotel room

window and saw building cranes everywhere I looked; it was

here, in Nanjing, that someone informed me that fully half

the building cranes in the world were currently in China. My

itinerary, it appeared, was trying to prepare me, to educate

me, for what lay ahead.

 

We finally arrived in Shanghai, and I instantly fell in love.

Again. Yet again, Shanghai had changed. This was the fourth

time I had been there, and every time it was a different

city, a different country. Had it changed for the better? The

city is modern, full of high-rises. It is trendy,

fashionable, sophisticated. And rich. I happen to like big

cities. I do not dream of returning to Demopolis, Alabama,

where my phone number, as late as my college years, consisted

of a single digit. For me, Shanghai is one of the great,

exciting places in the world. And I would be very happy to

live there. It would be like moving to New York in 1903, as

New York was really blossoming.

 

Before 1949, before the revolution and the establishment of

the People's Republic, the Shanghai stock market was the

largest in Asia, the largest between London and New York.

Shanghai was the center of commerce - and sin, the axis of

everything in the Far East. In 1988 I visited the Shanghai

exchange. To reach it, you walked down an unpaved road into a

somewhat ramshackle storefront featuring little more than a

thousand square feet of office space, and to buy stock you

simply walked up to a counter, overseen by a single

attendant, and paid for your shares. An over-the-counter

stock was exactly that.

 

The attendant totaled the transaction on an abacus. And in

1988 there were only a handful of stocks publicly traded. I

bought a bank stock, more for its historical than intrinsic

value. (The certificate hangs today, framed, on the wall of

my home in New York.) At that time, in remarks recorded by a

television crew, and later broadcast on PBS, I predicted

great things for China:

 

"This is history being made," I said, in voice-over as I

purchased my shares. "This is the way American stock markets

evolved over two hundred years ago. Someday I'm going to

invest a whole lot of money in China, so it's important to

know how things work now. Before the revolution, China had

the largest stock market in the Orient, and if I'm right,

someday it will again."

 

The stock exchange in Shanghai today, a little more than a

decade later, is located in a brand-new office building, a

gigantic, broad, square structure containing a vast,

ultramodern trading floor, where maybe three hundred people

work at computer terminals. Completely electronic and

growing, it technologically dwarfs the New York Stock

Exchange, where, thanks to powerful anachronistic interests,

brokers are still running around exchanging pieces of paper.

 

Naturally, I opened an account.

 

Earlier, to accommodate the growing number of foreigners who

wanted to invest there, the Chinese had begun creating a

class of shares known as B shares. The market's A shares were

limited to purchase by the Chinese. By the time Paige and I

arrived in 1999, all the foreigners, having failed to get

rich quick as they had expected to do, had started bailing

out, victims of just one more of the many bubbles that had

burst, and the market in B shares had bottomed out.

 

You know a market has bottomed out when everybody gives up in

despair and does not even want to talk about it. That is the

way B shares stood when I was in China. It was purely

fortuitous - it happened to be that way when we were there,

and I happened to notice because I have been around markets

for decades. There was nothing but despair and disgust,

outright animosity toward the B shares. They were selling for

twenty cents a share, and I stocked up. I bought a lot of

shares in a lot of different companies, first because they

were so cheap, and second because I believed China to be the

wave of the future; not knowing how any stock in particular

would perform, I expected all of them to do well.

 

Had A shares been available, I would not have bought them;

there was not the necessary hostility toward them. It was the

foreigners who had all dumped their stock, screaming, "Get me

out of these B shares!" It so happened that within a year or

so the Chinese made some changes in the law. The A shares and

B shares became the same. And the B shares went through the

roof, along with the entire Chinese stock market. For a lot

of reasons my investment turned out to be a good one, but

that is irrelevant (although the lesson of buying totally

depressed shares usually works out - if not always so

quickly).

 

I have no intention of selling. I do not know what my shares

are worth today. I do not want to know what they are worth.

They are not for sale. I still own these stocks and hope to

own them forever. I hope that they are in my estate.

Certainly China will suffer setbacks along the way, just as

the United Kingdom and the United States did in their rises

to greatness. But I would have to be a sucker to sell my

shares. It would be like buying shares in New York in 1903

and selling them in

1907.

 

While I was on this trip, Zhu Rongji, the Chinese premier,

was at Harvard Business School making a speech. And somebody,

some aspiring something-or-other, raised his hand and asked,

"Are you going to devalue the Chinese currency?" There had

been a lot of speculation that the Chinese government was

going to devalue before making the yuan convertible. We are

not going to devalue the currency, Zhu answered. If you

really think we are going to devalue the currency, he said, I

suggest you buy puts on the currency.

 

Now, buying puts is an extremely sophisticated way to profit

when something collapses. But here was the premier of a

Communist country telling this whippersnapper to buy puts,

essentially telling him, "Call my bluff, if you don't believe

me."

 

The Chinese understand money, finance, capitalism. This was

the premier of the country. This was not his treasury

secretary or the head of the central bank or the president of

the stock exchange. This was the guy running the country. He

knows money, and that sophistication permeates the whole

society - finance, getting rich, saving, investing for the

future, educating your children.

 

Compare that economic sophistication to the demonstrable

ignorance of a fellow like George W. Bush, who recently, in

remarks of his own, showed that he did not know the

difference between devaluation and depreciation, an absolute

embarrassment, especially for someone who attended business

school.

 

Forget that he is the president of the United States and not

the voice of Communist China. Do not get me wrong; it is not

just Bush. No recent U.S. president has understood basic

economics. Bill Clinton did not even know that the biggest

stock market bubble in decades was occurring while he was

president. He did not even know it popped when he was in

office.

 

I would cast a pox on both their houses - the Democrats and

the Re-publicans.

 

Regards,

 

Jim Rogers

- from Adventure Capitalist

 

P.S. In China, savings are not taxed, whereas here in the

United States the government, by taxing them two or three

times, discourages savings. Surprisingly, as I write this,

President Bush has proposed shifting the U.S. tax system to

one that taxes consumption rather than income. The change

would be as historically significant as America's shift from

a tariff-based tax system in the nineteenth century to an

income-based tax system in the twentieth. Such an approach is

critical; it is essential for the future health of the

nation. So I hope it actually happens.

 

Pudong district of Shanghai: