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B4 the Bell Fryday Sept 3, 2004


Guest yobob1

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unlike equities, the bonds are worried that Bush did not once mention the deficit in his speech...If we reverse the futures at the open, looking to close the weekly even.

 

More evidence of a top. If it's 1125, so be it. We'll head back down soon.

The deficit is rarely mentioned at all. It's hard to believe now that the Repubs up until 2000 actually enforced and campaigned on fiscal disipline.

 

I think it's pretty safe to say the budget deficit will be going higher no matter who becomes President. The Dems and Pubs are now in some kind of a race to out spend each other.

 

If we have high deficits at 1% interest rates, wait until rates get to 2 or 3 or higher.

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Morning Crew- Note the fabricated Jobs Report stated Hurricane Charlies effects (Ha-Ha) will be in the next report as they were too late for this one when you add in the one about to hit the next report will be 6 fathoms down. Don't know weather you caught Uncle Harvey-Jack Perougian on Schlock Box after the Jobs announcement his pores were opening and closing and he was saying we have to go over the household survey cuz there MUST be more Jobs that were not counted. That reaction and the fact futures remain down plus todays Astro I think sets up a downside surprise. I will be shorting the open with a tight stop. Window at the bell for 75 minutes-Helmets on, Buckle up! ;) The Chairthrower is in Da House for the first window.

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i'm now looking at any rally to potentialy FAIL @ or before 1120.

 

think then it will retrace maybe 5-6 points........then settle into

listless .....low volume tight range.............................................

 

Markets will be looking out towards next week and the "return" of

heavy hitters..........that should be the buzz anyway................

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I think it's pretty safe to say the budget deficit will be going higher no matter who becomes President. The Dems and Pubs are now in some kind of a race to out spend each other.

 

If we have high deficits at 1% interest rates, wait until rates get to 2 or 3 or higher.

Trillion-dollar deficits are coming. Mad Al's bond/dollar pool doesn't survive that scenario, IMO.

 

Bonds are going to be the 'short of the century.' BUT we have to wait for the "safe haven seeking" event that drives those bond prices to their final, unsustainable extreme ... and brings the deflationists out in force, with their burning torches and painted faces.

 

Meanwhile, I sit motionless like a spider, sensing the little perturbations in the web ...

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