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BIG BROKERS

They have overseen trillions of dollars of lost wealth.

For years they have been lying, cheating and rapeing

the retail investor.

And their collective punishment $1 billion.

 

Institutionalized crime does pay. Always has, always will.

 

Modern day ROBBER BARONS.

 

GREENSPAN

What is Alan Greenspan thinking.

 

Ed Kerschner might be hopeless compromised

but he was right when he said that

the growth of the services sector

should reduce the amplitude of the business cycle.

 

However this is no ordinary business cycle.

Care of Greenspan's tinkering.

 

You don't create wealth by printing dollars.

 

A country becomes wealthier by producing more goods

and services. Production requires consumption. And yes

improving productivity is part of it. Sustainable consumption requires stable and growing incomes.

 

Sustainable consumption can't be the result of artifically lowered interest rates. Greenspan has created a consumption time bomb and it's now too big to diffuse.

 

It's ironic that he is widely credited as having saved the world on several occassions. Yet when this is all over - it will all rest on him.

 

Just my ten cents.

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Kudlow and Cramer foaming at the mouth again tonight.

 

Cramer likes JPM at $24. Says he's all over it....

 

Rampant bullishness, predictions of "boom times" ahead.

 

Kudlow thinks 20% gain in S & P will be no problem.....

 

I will start taping these shows effective immediately.

 

Especially on the day when this market hits its secondary highs in early January.

 

Doc:

 

Get ready to set up Stoolville for some video streaming. We will need to replay these tapes on the site.

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Nobody mentioned the judges decision to let Enron plaintiffs sue Enron and the banks. There was found to be sufficient evidence to let them proceed. It will be hard to rig a judge if that is tried in Texas, I would think. Should be an interesting discovery process.

 

 

The other thing: Greenspans speech and strong mention of gold on the heels of the Bernadke(?) speech is a big fat green light imo for gold to rise to 350 - 400. I have never understood how they thought they could reflate without a higher gold signal. Now, its as public as Al is likely to get. I don't think they can reflate, but I have no doubt they can keep gold in a range they want higher than current. Al's written recognition of gold's role is on the record and going to be looked at by the media proxies.

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Takachi, James Sinclair agrees with you re Greenspan/gold.

 

"You have just heard the Chairman of the Federal Reserve speak the Gospel of Gold. It was not said randomly. ... I believe the price of gold is headed higher without significant interruption. I firmly believe that gold is headed back into the monetary system in a control mechanism with an adjustable market mechanism. Gold will be trading between $450 and $550 in 2003."

 

Full article http://home.flash.net/%7Erhmjr/index.html

 

Fadix: I gather you a West Aussie too?

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RSI Showing an Uptick

By Joseph W. Sunderman ([email protected])

Schaeffers Research

12/20/2002 3:22 PM ET

 

"Inconsistent" pretty much sums up this week's trading. If the market can hold its gains today, it will mark the first positive week for the month of December. This week saw strong gains booked on Monday and Friday, while the middle of the week was wrought with losses.

 

So, what has the impact been on the nine-week Relative Strength Indicator (RSI)? The indicator is now showing an uptick after falling for the last two weeks. The RSI now stands at 47.01, down from a reading of 59.26 for the week ending November 29 and last week's reading of 44.88.

 

It's difficult to say where the market is heading according to this indicator. Like many oscillators, the RSI is best used at extremes. It's currently in the middle of the top half of its regression channels dating back to 1995. In other words, the water is quite muddy right now.

 

For example, I can point out two recent instances (down arrows) where the RSI experienced an uptick following a decline from an overbought condition. The first uptick (in December 2001 ? blue arrow) coincided with three weeks of positive market gains before reversing lower. The second uptick (in April 2002 ? black arrow) only lasted one week before the selling resumed. If these two patterns tell us anything, it's that the potential for upside movement is there. But an extensive bullish run higher seems unlikely barring any major events.

 

 

021220joe1.gif

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Oooooh,nice pic of Laetitia,Mark.

 

Perhaps the perfect spokesmodel for the wonders of

physical gold ownshership.She's French,Casta means

pure in Latin,and the French policy on gold as a

monetary reserve is pretty darn bullish for the future.

 

 

http://www.google.ca/search?q=cache:0QEYGU...y&hl=en&ie=UTF8

 

Can't you just see her draped seductively over a huge

pile of gold bars,while burning a "gold certificate" in

a JPM ashtray?

 

If Trichet can dodge the legal beagles on his trail,he will be

the successor to Dim Wim(funny,we don't hear that nickname

too much anymore).

 

C'mon,Frenchies, let's put on Severe Shrinkage in the Gold Pool II,

a sequel I'm looking forward to with great anticipation.

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Happy Holidays to all stoolville, Mark dont know where you find the time or energy, but thanks for all your hard work,SOMEDAY I WANT TO PARTY WITH YOU. A Video library of these clowns would be outstanding.2003 will be all about the BEARS I see this site as becoming more and more popular as the carnage continues and feel privileged to be a member.When we start getting more views than Crapvision youll know its time to get long.... lol. Now if I could just stay focused on my day job!

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As if anyone misses it, Noland spells it out this week

http://www.prudentbear.com/creditbubblebulletin.asp

 

California, UAL, Conseco and on and on and on. The stool is hitting the fan. In the first two months of the year the Fed deficit was $119 billion! Californias projected 18 month defict went from $21 bln to $35bln in one month!

 

I can't think of anything to add. It's all been said before.

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As I am going on vacation next week, I have a very light short postion on. Seems many think we will have the gtd year end rally, listen I hope so, but I really do not envison that scenario. In fact, my wag, is we have hard down year end. Too many looing foir the rally, too many already postioned for said rally. As always, anything is possible, but nothing is gtd.

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after Jan 3 this market is going to blow chuncks big time. Like Soup1 I wouldn't be surprised to see it deliver coal for Christmas but either way is irrelevant to me.

 

A rally from here is 50/50, if it happens it'll be moving against increasingly decaying and horrible intermediate term internals and trend and will setup massive technical divergences. Short the hell out of it and if dong have that hand on the exit door, you're playing with fire.

 

High tide was Dec 2, the tide is now going out and its a rip tide area, be careful swimmers.

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I am long and hoping this sucker rallies thru the holidays BECAUSE I am adding SPX shorts everyday (march and April contracts) so a rally is a GIFT to we Bears-if it moves higher get short higher-if it craps from here January will be a low not a high so add a few longs as it drops (just in case)-Trade Safe!

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