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ps; Mousey, I stand corrected...the indexes DID close red, as you predicted. I wasn't even paying attention :P

 

I'm discounting the dow, of course, since it's a joke :lol:

It's OK Dozer, I had an unfare advantage over you anyway. You probably didn't have bomb sniffing dogs doing the once over on you on your way to work today like they did on me and the denizens of Wall Street this morning.

It sort of puts one in a certain frame of mind about whether or not to be long over the weekend.

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Some people will do anything for attention:

 

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

 

?Michael Randles?s Christmas tree is so big it took a crane to erect it on the front lawn of his Stone Mountain, Georgia, home. Randles, owner of M&M Mortgage Corp., spent more than $50,000 to buy the 60-foot Norway spruce, truck it from Sugar Mountain Nursery in Newland, North Carolina, and decorate it with 30,000 lights and 500 red and gold ornaments, some as big as basketballs. ?Without the year I?ve had in my business, I would not have been able to afford it,? said Randles, 36, ..."

 

:rolleyes:

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Dozer, here ya go!!!

 

Chartered Semiconductor Manufacturing, is starting to recruit workers for possible expansion.

 

The move comes as it considers whether to increase manufacturing capacity amid stronger-than-expected chip sales.

 

http://www.channelnewsasia.com/stories/cor...w/62742/1/.html

 

Only problem is its in Singapore <_<

 

 

HONG KONG, Dec. 17 (Xinhuanet) -- Companies in China's mainland, Hong Kong, Japan and Singapore recorded their highest figures in the first quarter of 2004 in terms of hiring intention since mid 2002, according to a report released here Wednesday

 

http://news.xinhuanet.com/english/2003-12/...ent_1236662.htm

 

Opps, Asia too!!!

 

 

Vickery: Evans' hiring 'a great day for Gainesville'

 

http://www.accessnorthga.com/news/hall/new...ry.asp?ID=77414

 

Yeah, but didn't a coach get fired?

 

 

Now Hiring: Console & PC News Writers, Media Staff

 

http://www.gigex.com/general/article/?id=4819&source=00001

 

That's more like it. What do you mean work out of my house. Not benefits, no insurance, what kind of job is this?

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Oh man, it's tough to be a bear sometimes.

 

Earlier in the year I had suggested that there was a serious threat of the market tanking. Today I say that the market went far higher than I ever thought it would, and so far I've been incorrect, I didn't expect such a big rally. I think in the future it would be best for me to keep my big mouth shut. Certainly I've gained over this past while, but not as much as some of the bullish players.

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It's OK Dozer, I had an unfare advantage over you anyway. You probably didn't have bomb sniffing dogs doing the once over on you on your way to work today like they did on me and the denizens of Wall Street this morning.

It sort of puts one in a certain frame of mind about whether or not to be long over the weekend.

 

:unsure: :blink: :o

 

 

 

:lol: :lol: :lol:

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I stand corrected. Noted in an anonymous Bullstool.com post.

 

Here's an interesting tidbit from DrStool's rant on the "manipulated" market on page 4 of MTM tonight:

 

 

QUOTE?

Suddenly the Dow Diamonds (DIA) ETF are out of whack with the market weighting of the index. The Trust must therefore enter the market and immediately buy more CAT, MMM and UTX, which of course causes these stocks and the index to rise even more.

 

 

 

Well, actually it's not a tidbit, it's a large chunk of the basis for the whole rant.

 

Funny thing is, it's also complete BS.

 

NO ETF, Diamonds or otherwise, buys shares because the price of this or that stock in its underlying index changes.

 

Ever.

 

They acquire the correct proportional amounts of the underlying shares when they issue new ETF shares in large chunks (usually 50,000 or more) to broker-dealers, who then, if they wish, can sell them just anyone can sell shares of the ETF on the AMEX or elsewhere.

 

If CAT or MMM or UTX (or whatever index component) moves a dollar, the value of the ETF's existing holdings of CAT or MMM or UTX (or whatever index component) increases, and the relationship of the CAT or MMM or UTX (or whatever index component) relative to everything else in the index is not disturbed in the least.

 

To simplify the math, assume 3 stocks in an index, A, B and C, all priced at 100, multiplier equals one, total index value 300.

 

The ETF holds 1,000 shares of each, value $100,000 each, total value $300,000.

 

[The price at which the ETF itself trades doesn't matter, obviously it will be approximately $300,000 divided by the number of outstanding ETF shares.]

 

Assume that those nasty manipulators then decide to drive A up not just one point, but up 100 points to 200, and the price of B and C remain unchanged.

 

Total index value is now 200 plus 100 plus 100 equals 400.

 

Total value of ETF holdings are now $200,000 plus $100,000 plus $100,000, total value $400,000.

 

Exactly what it should be to reflect the underlying index, and the ETF didn't need to buy a single share of component A to remain in exactly the position it should be in.

 

Which is exactly the way it works with real ETFs.

 

Which demonstrates that Dr. Stool doesn't know what he's talking about when it comes to how ETFs work.

 

And not a single one of the geniuses on MTM has pointed it out.

 

Probably because most of them believe in the total manipulation of all markets, and this BS fits in nicely with their delusions.

 

So, Doc, are you gonna correct your error?

 

So the specialists don't use the ETF to manipulate the Dow. They do it the old fashioned way. When they want to push the Dow higher they move the highest price lowest cap stocks in the Dow. I was wrong about the ETFs. Finally something of value from the Bullstool cretins.

Thank God for Bullstool.com. At least the idiots have a place to go and pull their pants down among themselves.

 

But in those big piles of doodoo, one sometimes a worthwhile nugget.

 

I made an assumption based on something I had read, and it was wrong. As they say, never assume. I made the assumption and did not research it as I normally would. I blew it.

 

The individual who pointed out the error didn't think I would admit a mistake if I knew about it. They don't get it. They just don't.

 

With the exception of a handful of standup people over there, the majority post anonymously using multiple user name, often chatting withthemselves. Who do they think they are kidding? Certainly not me. Without exception, if they have posted on this board even once, I know their stoolie handle. So not only are they are a bunch of gutless cowards, they're not too bright.

 

Except for the guy who wrote the above post. He's just a nasty bastard.

 

We now return to our regularly scheduled programming.

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