hokahay Posted August 29, 2008 Report Share Posted August 29, 2008 Let's talk about the market, the economy and other light hearted fare. Most political stuff will not make it through our program filters, so you shouldn't waste any effort on it. Unfortunately the quality of our political analysis and opinions is even worse than it is on the markets. 684535[/snapback] hahahaha LMAO Link to comment Share on other sites More sharing options...
Bungster Posted August 29, 2008 Report Share Posted August 29, 2008 GAWD DAMN-IT!!!! Someone on IDS today made a comment along the lines of, "so which bank is gonna fail after the close today" I was gonna vote for INTEGRITY BANK. From the FDIC -- also note that these guys were one of the banks that was offering CD yields way above everyone else in 2007/2008 _____________________________________ On August 29, 2008, Integrity Bank, Alpharetta, GA was closed by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions. 684545[/snapback] NICE.....That should be worth a couple SPX points on Tuesday... Link to comment Share on other sites More sharing options...
capitall Posted August 29, 2008 Report Share Posted August 29, 2008 What a sideways market. Nauseating ups and downs, resulting in it ending the week at about the same place where it started. Same as last week. I guess the people who are doing well must be buying every dip AND selling every rise. Link to comment Share on other sites More sharing options...
fxfox Posted August 29, 2008 Report Share Posted August 29, 2008 Mothership, cwd and dharma,PM'ed the link to you. If there is a problem, let me know. TURK 684547[/snapback] if it is about the original tunnel system, here i have a link: Tunnel System i want to say a few things about it. The system works. But it aint the holy grail, cause there is no holy grail. When you search the web you will see many times that people complain about the system. Thats cause they are searching for the holy grail. The system is more like a guide. You can add your own stuff, like i did with adding the ema200 to it. When your read the text the guy wrote carefully you will notice that he says, that still folks should look at trendlines and other basic TA stuff, espiailly during tight ranges, casue during that you get whipsaws. Thats where people complain: "The system kills me during tight ranges!", well, name me ONE system which doesnt do that? It also is a problem that many "traders" dont get the basic concept that the final arbiter is PRICE. It is the most important thing. I need no Bollinger Bands to show me that when the two bands are compressed a big move will come! I know that already with looking at price action. I need no ADX to show me wether an instrument is trending or not! I look at price and see if it is trending or not. I always look at MULTIPLE levels of support and resistance. When i have 3 things at more or less same level i take postion. I use the tunnel, a few other MA's, fibos, channel and trendlines. Thats it. Nothing else. Sometimes MACD for spotting divergences, but as we know there can be divergences for a very long time, but i think MACD is still a good indicator. Also people should not forget that even with all those systems you still have to have something like a gut feeling for the market. You have to learn when a specific market moves and when not. For example forex: During asian session it doesnt move as good as in the european and american session. There are days when it moves very good during asia, but after all one has not to trade during that time. So if one uses the 1 hour tunnel method religiously without anything else then he wont be very sucessfull. It takes many many years to get a good feeling for the market, yet newbies think they can find a holy grail and become a millionaire. Impossible. Finally my advise is to really ask yourself if you have a passion for the markets. You must love the markets. You must love them so much that you rad chart after chart after chart of all various kinds of instruments. I dont knwo how many chaets i have seen in my life, maybe millions. After some time you get a feeling for the makret and for price movements. You and the market become one thing. Without passion the market will sooner or later get you. Link to comment Share on other sites More sharing options...
Bungster Posted August 29, 2008 Report Share Posted August 29, 2008 Wanted to post NLR.....Nuclear power Link to comment Share on other sites More sharing options...
Drano Posted August 29, 2008 Report Share Posted August 29, 2008 Wal-Mart has singlehandedly destroyed many of the U.S. manufacturers and thousands upon thousands of small retailers. It's just Gresham's Law in action -- the bad drives out the good. People buy stuff of poor quality that is cheaply made by slave labor in China, and manufacturers in other countries, especially the U.S., just can't compete. So, to survive, the U.S. companies started doing their manufacturing in China. Then, people lose their jobs or have to take lower-paying jobs to survive, so they have no choice but to buy cheap crap at Wal-Mart. Sam Walton was a great patriot, wasn't he? As far as trying to deal with WMT if you have a product to sell -- they will find a way to rape you. I know people who have had horrible, company-destroying experiences with those scumballs. I won't say that I won't buy anything from WMT -- if I were stranded in a snowstorm, and the only warm place around was WMT, I would go in and buy a Coke or a bottle of water so I could come in out of the cold. By the way, CostCo is a whole different ball game. I have nothing but respect for the ethical way they have run their company. Link to comment Share on other sites More sharing options...
TURK Posted August 29, 2008 Report Share Posted August 29, 2008 if it is about the original tunnel system, here i have a link: Tunnel System i want to say a few things about it. The system works. But it aint the holy grail, cause there is no holy grail. When you search the web you will see many times that people complain about the system. Thats cause they are searching for the holy grail. fx, Thanks for the input. This is good info. One important point this guy makes is that the security being traded must really be compatible with this type of trading. He had certain currency pairs and es minis that he recommended but not to use the system with something that will whipsaw you in and out. TURK Link to comment Share on other sites More sharing options...
Sea urchin Posted August 29, 2008 Report Share Posted August 29, 2008 thats was my impression too. The price pressure from Wal-Mart is extraordinary. They squeeze their suppliers till they cant breath anymore. This is no "live and let live" anymore, this is "i live, if you die, your problem". 684550[/snapback] What are WMT's margin requirements? In general, the US margin requirement (20 to 27 percent) is a dream for a Japanese business. I think that America has been able to maintain such lucrative margins until recently because of cheap oil. Those margins have also allowed American top executives to rake up huge compensations, the level unthinkable in Japan. American way of life will change but unpleasant changes come to the weakest first and the hugely compensated executives last because that's the American way. That is one of the things I have seen in real time in working in the US. When I started working in the US, I was shocked to see how lower people were fired to save the face of Director or take responsibility of mistakes, which should be taken by higher people. Even my boss was surprised. Link to comment Share on other sites More sharing options...
Drano Posted August 29, 2008 Report Share Posted August 29, 2008 Sadly, Sea Urchin, you are correct. It was never this bad until the past decade or so. That is one of the reasons I said CostCo was an ethical company. The CEO can't be paid more than 40 times what the average worker makes. Link to comment Share on other sites More sharing options...
MrHanky Posted August 29, 2008 Report Share Posted August 29, 2008 I must be Doc's twin.... Whenever I'm not home to watch the market ......it tanks.I should go short at take 6 months off and not even look. Link to comment Share on other sites More sharing options...
Drano Posted August 30, 2008 Report Share Posted August 30, 2008 I must be Doc's twin....Whenever I'm not home to watch the market ......it tanks.I should go short at take 6 months off and not even look. 684562[/snapback] It was because both you and Doc were away. We need to plan this better so we can all cash in. Except you, of course. Link to comment Share on other sites More sharing options...
Trader Joe Posted August 30, 2008 Report Share Posted August 30, 2008 Wanted to post NLR.....Nuclear power 684556[/snapback] I'm in that one (recently entered over the past couple of weeks)....LONG TERM position there Link to comment Share on other sites More sharing options...
cwd Posted August 30, 2008 Report Share Posted August 30, 2008 Homebuyers turn screws on desperate sellers These days, sellers almost always pay the closing costs instead of the buyers, according to John Rygiol, an Exclusive Home Buyer Brokerage agent in Orange County, Calif. Even local taxes are on the table these days, according to Adele Hrovat, the owner of The Buyer's Realty of Las Vegas. She got the bank that was selling a four-bedroom, three-bath, house to pay an $11,000 tax assessment on top of $6,000 in closing costs. And that was after the price was slashed from $489,900 to $399,000. In New England, buyers are demanding that sellers pay to fill up a home's heating oil tank. Nearly everywhere, buyers are insisting that sellers purchase a home service contract providing a one year warranty on all of a home's appliances. 684541[/snapback] I talked to a friend of mine who just sold her house. She had to give the money to the buyer to make the FHA 3% down payment. Of course she raised the price of the house 3% to cover it, so another deadbeat renting from the FHA. Link to comment Share on other sites More sharing options...
Trader Joe Posted August 30, 2008 Report Share Posted August 30, 2008 DAMN IT!!!!! Everytime I see that Palin chick I think of something along the lines of this....I can't be the only one.....right? Link to comment Share on other sites More sharing options...
Trader Joe Posted August 30, 2008 Report Share Posted August 30, 2008 This could be fun, eventhough it's probably a non-issue. Below is an email I received from Fidelity regarding a $25,000 CD that was supposed to mature today. Just thought I would share given I have never seen a notice like this and also given the current banking debacle. _______________________________________ For account ending xxxx: Fidelity would like to inform you of an event that has occurred on one of the securities which you hold in your portfolio. The below security was NOT affected by Maturity Cusip: 337629JS9 Description: FIRSTBANK P R Rate: 4.400% Maturity Date: 2008-08-29 Quantity: 25,000.00 Redemption Price: 100.00 Redemption Principal: $25,000.00 Amount Outstanding expressed in ($000s). To discuss your investment or other fixed income opportunities, please visit Fidelity.com, visit your local Investor Center or call 800-544-5372. Link to comment Share on other sites More sharing options...
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