Drano Posted June 15, 2004 Report Share Posted June 15, 2004 Uh -- didn't Bradley invert last time? Not to rain on the bears' picnic... which I hope to attend.... Link to comment Share on other sites More sharing options...
stained jeans Posted June 15, 2004 Report Share Posted June 15, 2004 Yup, you did. Thanks. These big boys who are still left with a ton of shares at these levels are going to have a religious experience if the buyer's strike continues. I doubt they've done all the distribution they need to. Yep. I spoze that's what Wave 3s are all about. Distribute, distribute, distribute till you can't anymore. Then dump as fast as you can. Drano, That's correct. The 5/17 inverted. As far as I know, there is no predictive value in that regarding the next turn on 6/17. No matter, though. There is another one right behind on 6/21 (two trading days). Link to comment Share on other sites More sharing options...
Guest Posted June 15, 2004 Report Share Posted June 15, 2004 BIGGEST STOCK SCANDAL IN HISTORY INVOLVES SHORT SELLING??? ??Investing 101??-??Jun 11, 2004 - Is Dateline Losing Credibility Over StockGate Story Delays? ???by Mark Faulk ????It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that involves over 1,200 offshore hedge funds, over 150 US brokers, and has already bankrupted over 7,000 US companies in the past six years. According to many of the lawsuits filed to date, the crooks include terrorist groups and organized crime syndicates. Sources say that this scandal, which involves an intricate system of selling electronic counterfeit shares of stock in an effort to destroy the market value of small publically traded companies by utilizing a method known as "naked short selling", will eventually implicate almost every major broker in America, all of the governing bodies that oversee trading, and will extend into Canada and Europe. Amazingly, the SEC has admitted it had been "observing" naked short selling for six years, but up to now has done absolutely nothing to put a halt to it. ????As The Faulking Truth has written about and followed this story over the past few months, one nagging question has remained: where is the national press coverage on this issue? Aside from a few recent articles in national newspapers, which have barely scratched the surface of this worldwide scandal, why has this been largely ignored by the mainstream media? Why hasn't one of the major network investigative shows put together an in depth expose' to blow this scandal wide open? ????After publically speaking out about the scandal early on, attorneys John O'Quinn (of the Houston law firm of O?Quinn, Laminack and Pirtle), and Wes Christian (of Christian, Smith, Wukoson and Jewell) have been uncharacteristically quiet for the past few months. That's because Dateline has kept a muzzle on the two attorneys until the "StockGate" segment airs. However, lead attorney Wes Christian has filmed over twenty hours of exclusive interviews for the Dateline segment. Although exclusivity contracts involving the media aren't unusual, this situation is a bit different. This scandal is ongoing, and in fact seems to be accelerating in the past couple of months, even after new NASD regulations supposedly aimed at putting a halt to the corruption went into affect on April 1st. http://www.faulkingtruth.com/article/?Investing101&1005 http://www.faulkingtruth.com/article/?Investing101&1001 http://www.faulkingtruth.com/article/?Commentary&1006 Link to comment Share on other sites More sharing options...
Guest Posted June 15, 2004 Report Share Posted June 15, 2004 Web Bots "Wall Around the Clan"? SEC Limiting Bears? "Well, compliance departments are now effectively running most brokerage firms, not guys like me with 30-years in the trade.? For instance, one of the major firms has sent out letters last week from their compliance department advising those of us who occasionally put managed accounts into short positions with those so-called 'double beta" funds [leveraged short funds that gain $2 for every $1 of decline-G] that we can't do that any more under proposed rules.? What's more,? they are trying to convince us that not only can't we leverage short side action in managed accounts, but they also are trying to keep us from 'parking' managed accounts in money markets or bond funds...even is that's the best move in the client's interest! They're pushing us through the administrative back channel to be long the market all the time!" Go look at what the SEC is hounding compliance departments about and you'll find that regardless of what they claim, the net effect is that they are slowly going through a plan to make it more and more difficult to play the short side - and I think we could be starting another down leg any time now.? I can't begin to tell you what a problem this is for me.? I have clients coming to me who had one and a half million dollar accounts at the peak of the dotcom bubble.? They come to me with half a million and want me to make it back for them before they retire.? Well, if I can't park them in cash when the technical indicators I use are indecisive, or can put them into double beta short funds when that's the right move, it really reduces my potential to do the right thing which is provide the maximum returns for the client." http://www.urbansurvival.com/week.htm Link to comment Share on other sites More sharing options...
stained jeans Posted June 15, 2004 Report Share Posted June 15, 2004 Here's more EW info than anyone wants. The count on a closing basis can differ from the candlestick count as it appears to be doing this time. This final C-of-2 (let's pretend for the moment that we know that's where we are) shows an extended subwave 3 on the candlestick chart I posted earlier. With an extended 3, subwave 5 can be any length. The closing price chart, however, shows an extended subwave 1. That caps the subwave 5 to no longer than subwave 3. That means 1150 tops for this rally (daily closing basis). FWIW Link to comment Share on other sites More sharing options...
Guest Posted June 15, 2004 Report Share Posted June 15, 2004 Appearing on Hardball, Former Ambassador Richard Holbrooke just referred to Cheney as "The Prime Minister of the United states" Link to comment Share on other sites More sharing options...
brian4 Posted June 15, 2004 Report Share Posted June 15, 2004 Last Tuesday the Spoo's and the Dow topped at 1142.12 and 10,432.81 respectively on a closing basis. Since then for all the churning they have not come close to taking out those closing highs, same applies to the Comp, Sox, cubes and NDX. I think the Boyz are trying to hold it here until triple witch Friday, the question is can they?? Stain your scenario is possible and of course a break of 1150 would put all our scenario's to bed. But they failed again today and the Astro's now lined up on this sucker for the next week all say down. I believe we will know the direction in the morning a gap down open would say it all. Link to comment Share on other sites More sharing options...
brian4 Posted June 15, 2004 Report Share Posted June 15, 2004 Fair Value number are -spoo's-1131.14-NazDuck-1483.81- Spoo is up a touch-the Duck is down a touch! Link to comment Share on other sites More sharing options...
Guest Posted June 15, 2004 Report Share Posted June 15, 2004 Tapes show almost daily manipulation by Enron June 15, 2004 BY GENE JOHNSON SEATTLE -- Enron Corp. manipulated the energy market practically every day during the 2000-01 power crunch and gouged Western customers for at least $1.1 billion, according to audiotapes and documents released Monday. http://www.suntimes.com/output/business/cst-fin-enron15.html Former Enron CEO Due to Receive about $1 Million NewsStand - Tuesday, June 15, 2004 Houston Chronicle Jun. 15--A federal judge has ordered that ex-Enron CEO Jeff Skilling should get what could be about $1 million in annual interest from some of the $66 million in assets frozen by the Justice Department when he was indicted. http://www.menafn.com/qn_news_story.asp?St...vUCM9Uq0vpr#top Link to comment Share on other sites More sharing options...
Guest Posted June 16, 2004 Report Share Posted June 16, 2004 A grassroots flowering The Austin Motel is a refurbished, New Deal-era business on South Congress Avenue near my home. It has an old brightly-lit marquee out front that proudly boasts the credo of the current owners: "No additives, No preservatives, Corporate-free since 1938." Wouldn't that make a fine slogan for a new democratic media for America? Oh, you say, Hightower, don't toy with us. It would take billions and billions of dollars to build a broad-based media network outside the established TV, radio, and newspaper conglomerates, so that's just a pipe dream. Well, yes, it would take those impossible billions if we set out merely to duplicate the media Goliaths. But what if we wanted to develop a David - a sprightly, nimble network of media outlets that are not capital-intensive and not burdened with either multimillion-dollar salaries or voracious conglomerate bureaucracies? I have good news for you: This is already happening! Thousands of hardy, grassroots people have been working steadily and creatively over the years in every area of media, and the result of their combined efforts is that a new media force is now flowering coast to coast - a force of hundreds of media outlets that is unabashedly progressive, fiercely independent, diverse, dispersed, and democratic. Some of these outlets are nationally known, others only locally known; some are brand new, others have been plugging away for decades. But the significant thing is that, collectively, they are a force to be reckoned with, celebrated, strategically deployed and deliberately expanded. The web A democratic tool that Jefferson, Madison, and the other Bill of Righters could not have imagined, but would gleefully embrace today, is the world wide web. This computerized architecture of interconnected hubs and spokes allows us to link our thoughts and actions instantly in virtual space and produce tangible political results that would have taken months before. http://www.commondreams.org/views04/0615-14.htm Link to comment Share on other sites More sharing options...
wndysrf Posted June 16, 2004 Report Share Posted June 16, 2004 Yup, you did. Thanks. These big boys who are still left with a ton of shares at these levels are going to have a religious experience if the buyer's strike continues. I doubt they've done all the distribution they need to. Exhibit A: Robert Stansky with .04% cash reserves... Watch what happens when the largest fund on the planet tries to unload..... Link to comment Share on other sites More sharing options...
depends Posted June 16, 2004 Report Share Posted June 16, 2004 This little chart is not changed by todays rally. I put on some shorts near the close - partial positions - on some weak stuff. Link to comment Share on other sites More sharing options...
purdymouth Posted June 16, 2004 Report Share Posted June 16, 2004 The Son of Patriot Act Also Rises http://www.wired.com/news/privacy/0,1848,63800,00.html Link to comment Share on other sites More sharing options...
twignberries Posted June 16, 2004 Report Share Posted June 16, 2004 Twig: I don't insinuate anything. Nor to I judge people without doing a bit of research myself to determine where the truth lies. I've not been able to find any evidence of any threat today in Manhattan. I thought you might like to help out. The truth is a valuable commodity lately, and I do my best to seek it out. Taking anything I hear from CNBS at face value is no longer an option. This was no conspiracy theory. It was stated to be a fact by a reporter on a respected network. I'd like to know the details that led to such a rapid market decline to better understand how news affects the markets. Plunger, I agree whole heartedly about Crapvision - they are not trustworthy. The conspiracy theory was not that the reporter made the statement - but that Crapvision concocted a bogus terrorist threat that had since been discredited in order to calm the masses and avoid panic on a small intraday drop. The fact that there probably was not a real threat does not indicate conspiracy necessarily. If the traders on the floor heard a rumor and acted on it for a minute or two, the drop would have ocurred. The reporter, curious about the cause of the sudden drop could have asked around and heard the rumor, reporting it shortly thereafter. Inacurate information? Yes. Conspiracy? No. This is all just conjecture anyway. The point is we must be skeptical of ALL information, especially if we agree with it. Our own biases tend to blind us to the truth - same as the sheeple. Blaming every unexpected move in the markets on various and sundry conspiracies is an example of that IMO. Not saying that is what you did - just making a general point. Link to comment Share on other sites More sharing options...
Guest Posted June 16, 2004 Report Share Posted June 16, 2004 If you believe that the Fed has the abilty to orchestrate "events, data and news" in such a way as to ensure that the Ten Year Yield remains low...the following surely provides a good reason for them to endeavour to do so: According to Stephen Schurr (Financial Times, 3/9/04), ?Fannie Mae paid a net $25.1 billion on derivatives transactions in under four years?nearly all of which may represent losses....? The agency recently admitted it lost $6.86 billion in 2003?but it isn?t saying much about earlier years. Unfortunately, today?s rising interest rates are an even bigger threat to Fannie and Freddie, mainly because they will push up mortgage default rates. Since U.S. homeowners are already heavily in debt?much of which is variable?defaults could soar if mortgage rates go up more than a few points. Adding to the danger posed by rising interest rates will be their inevitable damping effect on housing prices, which soared during the recent boom. Many real estate anal cysts think the U.S. housing market is now 15% - 20% overvalued and a classic investment bubble. If the bubble bursts, it would trigger a meltdown at Fannie Mae and Freddie Mac that would devastate thousands of investors and financial institutions holding their assets. The shock wave would certainly trigger a recession?at the minimum. Dean Baker, co-director of the Center For Economic and Policy Research, believes we could be looking at ?a loss of $2 - $3 trillion in housing wealth and a [economic] downturn that is even worse than the fallout from the stock market crash.? Casey Research, LLC, 166 S. Main St., Suite 2b, Stowe, VT 05672. [email protected] Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.