Sphinxter Posted March 4, 2003 Report Share Posted March 4, 2003 Ya know, as usual, I came kind of late to this party. But for those of you who have been living with this knowledge for years, first my hat's off to you, and second, here's a little flash to the past in case you forgot from whence you came. On November 11th, 2002, after much sustained erosion and a goodly period of developing some disturing facts, I took a good hard look at my portfolio. I asked some hard and very specific questions of my Broker and heard a soothing litany of measured responses: "Stocks always go up over the long run...trading on fears is bad policy ... Gold? Are you nuts?" Etc. Since then, unfortunately, my portfolio is down 14.2% :cry: Fortunately, I overcame my inertia and said "STFU - SELL!" and am now up 14.2% even before any of my reinvestment activities. Hahahahahahahahahaha! I pinged my former broker again today with my RTD because I am still bitter over the fact that I had to learn more about his F-ing business than he and because I have a mean streak when it comes to basic incompetance and/or shilling. Honestly, I almost thought I was going to have to physically go down there and make him do my bidding. He tried everything in the book "why don't you think about it for 48 hours...no?... how about you talk to my boss, he's the best trader I know...no?..." Yeesh. I don't know how a weaker willed person could get past that ... (yes I do, on 9/11 when the voice over the loudspeaker comes on in the South tower and said 'go back up to your offices, everythings fine' many a weaker willed person ignored their own intuition and obeys...think about that...from my perspective our economic North tower is aflame and still the shills lure people in. Shame). House on the market since Nov 12th (still no takers) so I ain't out of the woods yet So ambivalence reigns: it all can't fall fast enough on the one hand but I need it to hold together a bit longer on the other hand.... So thank you to all the stoolies who taught me more about the true nature of investing/conditions during my active, sustained campaign of lurking than my previous 39 years, and MBA, managed to accomplish. Link to comment Share on other sites More sharing options...
Tchaikofsky Posted March 4, 2003 Report Share Posted March 4, 2003 Courts say hooey to Victoria's Secret NEW YORK (CBS.MW) - The U.S. Supreme Court rocked Victoria's Secret Tuesday by ruling against its claims that a small Kentucky sex store was diluting the national chains powerful trademark. . . . The case focused on whether a small store called Victor's Little Secret was blurring the distinction between itself and the national chain. With a store slogan that reads, "Everything for Romantic Encounters," Victor's Secret sells lingerie, sex toys and adult video. . . . Shares of Victoria's Secret parent Limited Brands (LTD: news, chart, profile) came undone by better than 4 percent, or 51 cents, to $11.36. Mark, if ever I saw an item which cries out for your expert analysis, this is it! Link to comment Share on other sites More sharing options...
wndysrf Posted March 4, 2003 Author Report Share Posted March 4, 2003 Injured Grizzly: I saw Crapvision pump Dreyer's in the PreMarket. The early ticker showed a good pop to the upside. I was tempted to short it, but followed PileDriver's advice to avoid the Glamazon Chicks. Oh, Well...... Maybe Meg Whitman will be accused of insider trading. She's been selling like mad. "EBAY halted trading at $78.25" "Meg Whitman indicted for insider trading. EBAY resumes trading at $41.59" Link to comment Share on other sites More sharing options...
jraabe Posted March 4, 2003 Report Share Posted March 4, 2003 Just a little tidbit from DEBKA (http://www.debka.com/): "According to unconfirmed rumors in South Korea and Japan, a piece of a warhead from a long-range missile test-fired by North Korea was found in Alaska, which would mean that Pyongyang?s missile capabilities have so far been underrated." News may be noise but that doesn't mean it's not interesting. Link to comment Share on other sites More sharing options...
machinehead Posted March 4, 2003 Report Share Posted March 4, 2003 Japanese 10-year govt. bonds fell to a record low 0.74 percent yield. Defration no mondai Not surprising, with the J-yen actually strengthening against the US dollar. As someone commented a couple of weeks ago, you know you're a failure as a central banker when you can't even destroy your own currency. Sayonara, [bOJ gov] Hayami-san! You clazy. Link to comment Share on other sites More sharing options...
GregFokker Posted March 4, 2003 Report Share Posted March 4, 2003 "'These guys are the new supermen of the City. 'They are in demand, unlike most other types of banker in the City. 'There are very few of them and the area is very young. 'The bandwagon gathered pace in 2002, with second and third-tier banks struggling to fill a growing number of vacancies as the market continued to expand.' This is how Soloman's "Masters of the Universe" mortgage traders used to be described in the 1980s (Liars Poker and all that). Such inflated language, and 'second and third-tier banks struggling' to get in, tells you that the smart money is already selling out to the dumb money. Wonder what Nick Leeson's up to these days? Died of cancer, I believe. Link to comment Share on other sites More sharing options...
wndysrf Posted March 4, 2003 Author Report Share Posted March 4, 2003 The End: INO.com charts are showing a big gap down on USD and gap up on gold after hours. Gold now safely above 354-355 resistance, Dollar now in the 98 zone. Can you confirm this? Link to comment Share on other sites More sharing options...
TJM Posted March 4, 2003 Report Share Posted March 4, 2003 http://www.morganstanley.com/GEFdata/diges...030228-fri.html VERY INTERESTING......... Stephen Roach (from Singapore) Not all shocks are alike. Nor do they exert comparable impacts on macro economic performance. Shock analysis has two critical dimensions ? the magnitude and duration of the shock itself, as well the pre-shock condition of the affected economy. On both counts, the oil shock of 2003 is extremely worrisome. That leads me to conclude that the risks of renewed recession in the US and in the US-centric global economy are high and rising. More Link to comment Share on other sites More sharing options...
crapax Posted March 4, 2003 Report Share Posted March 4, 2003 Yeah what happened to Uncle Buck? I use xe.com to get a fair idea - quick n easy to eyeball the various cross-currency rates. Uncle Buck slipped from 1.08853 (to the Euro) at the close to 1.09671.....and falling. Hell, what happened? Link to comment Share on other sites More sharing options...
MrHanky Posted March 4, 2003 Report Share Posted March 4, 2003 U.S. Deploys 24 Bombers to Guam to Deter North Korea http://news.yahoo.com/fc?tmpl=fc&cid=34&in...cat=north_korea Link to comment Share on other sites More sharing options...
The End Posted March 4, 2003 Report Share Posted March 4, 2003 The End: INO.com charts are showing a big gap down on USD and gap up on gold after hours. Gold now safely above 354-355 resistance, Dollar now in the 98 zone. Can you confirm this? Yepper. http://quotes.ino.com/ Link to comment Share on other sites More sharing options...
Injured Grizzly Posted March 4, 2003 Report Share Posted March 4, 2003 Injured Grizzly: I saw Crapvision pump Dreyer's in the PreMarket. The early ticker showed a good pop to the upside. I was tempted to short it, but followed PileDriver's advice to avoid the Glamazon Chicks. Oh, Well...... Maybe Meg Whitman will be accused of insider trading. She's been selling like mad. "EBAY halted trading at $78.25" "Meg Whitman indicted for insider trading. EBAY resumes trading at $41.59" Wndysrf: I'm not short the stock but when I saw it was down I went to the Yhoo message board to hear the screaming for a minute. One guy thought this would be hard on the S&P tomorrow because the hedge funds would have to sell anything they could to pay the margin losses on the DRYR trade. I doubt there is that much interest in the stock to cause a big disruption like that but it would be nice to see. They said somebody sold 5.00 calls at the 70 strike and bought 3 times as many 70 puts with the money. Wound up being a very lucrative trade. The yhoo ies are very upset about it. Oh well. Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2003 Report Share Posted March 4, 2003 The End & All Thanks, Bro, for putting out the welcome mat-I have become a devotee of Marky. I hang out over at the Gold-Eagle forum where I'm one of the chief cook & bottle washers--On that forum in about March 1999-I started pounding the table to buy the June 2000 $400 gold call-It actually could be bought, then, for $50-Imagine, a full calendar year and going into Y2K plus all the other risks that could manifest in a mania--I had 100 of them-by summer of 1999 they were languishing in my account at $20 a copy-Then, in the fall of 99, came the $84, 10-day rally in gold-one of those days gold was up $45 intra-day-my call traded at $1800-I sold 1/2 of mine at $900 & $1100--I ate the rest. I also had 100 Dec $400 1999 calls bought for $50 each-I sold 1/2 of those at $500. I musta put at least 100 guys in that trade-I relate this for no particular reason-I have nothing to tout-I never have been a broker--just have a lot of commercial real estate and keep some PM options on to have some interest in the game-I don't work-besides, I turn my old lady out to trick every day: She's a senior partner in a surgical group at a big time hospital outside of Manhattan-I live in Pleasantville, N.Y. but was born & raised in Peoria, Ill. My sister lived in Beverly hills-on Whittier between Sunset & Santa Monica for almost 40 yrs-her husband had Foothill Group-he was a co-founder-My dad lived in Century City--I spent a lotta time in Calif., so I can relate to Marky's tales of L.A. Link to comment Share on other sites More sharing options...
martialcomp Posted March 4, 2003 Report Share Posted March 4, 2003 A further deterioration of the dollar probably ties Greenspan's hands even more. Today, they released 6.75 billion in over night repos with 7.25 expiring which equates to a net drain of 500 million. Will Greeny continue to drain? If the dollar continues to go down, he will almost HAVE to won't he? This means a continuing down trend in the markets. Next stop, Fib/trin turn date of March 13th? My thinking is we go down until then unless the war starts a few days sooner than March 13th. Link to comment Share on other sites More sharing options...
phatbubble Posted March 4, 2003 Report Share Posted March 4, 2003 fokker: follow-on from last night. rod stewart & ron wood actually were in the faces together (before ron left for the stones). sadly, i cannot, as of this post, provide any photographic documentation that al dimeola, lou reed, and robbie robertson are not all the same person. my people are on it, though. Link to comment Share on other sites More sharing options...
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