buttugly Posted February 12, 2003 Report Share Posted February 12, 2003 Supplysider: I am just joking - I wouldn't last one winter. However, if you take out ERICY then the picture doesn't look so bad. The real attractions are quality public schools, low crime, free medical, nice scenery etc ... What's that old joke: "In heaven: you have a French lover, an Italian cook, drive a German car, and it is organised by the Swiss with British police. In hell: you have a Swiss lover, a British cook, drive a French car and it is organised by Italians, with German police." Maybe a new version: In hell: you pay taxes in CA, holiday in Dallas, work in Bagdad, have a Swiss lover, drive a Russian car and it's all organised by Argentinians with Israeli police. (I hope I haven't offended the whole board). In heaven: you pay taxes in Florida, holiday in the Caribbean, work in Lake Tahoe, have a Danish lover, drive a German car and it's all organised by Swiss with Thai policewomen. Link to comment Share on other sites More sharing options...
simple guy Posted February 12, 2003 Report Share Posted February 12, 2003 SG says Mark rules I remain short at 200% the Q"s.... and added another 15k to the position at the closing print tonight in fact.... The jig is soon to be up, and I have the PATIENCE to wait... it will be well worth the ride down... Thanks again Mark for your excellent writing skills and amazing sense of humor BTW... whenever you get nervous... I get more bearish... Link to comment Share on other sites More sharing options...
Pretzel Logic Posted February 12, 2003 Report Share Posted February 12, 2003 every night at exactly 3am the futures lift off like a missile. Meester Hanky the Christmas Poo, 3am is when the FTSE opens, and the futures tend to loosely follow the action there. If the FTSE opens up, the futures usually head up. If the FTSE opens down, the futures usually move down. Not always, but there's a definite correlation. The nightly fucutures market is largely irrelevent anyway, imo. Fokker, I hear ya'. I finally convinced my mother-in-law to get out of the market last November (after the Oct. rally). I had been trying since 2000. Even THEN (November), her broker *almost* talked her out of it again. My father-in-law has flatly refused to listen to anything I've said, and is currently down 40%... I've told him that's better than being down 80%, but he's going to "ride it out, no matter what." He's my contrary indicator. When he finally sells, the new bull will be just around the corner. It's amazing how conditioned (read: brainwashed) so many people have become. Link to comment Share on other sites More sharing options...
BigWave Posted February 12, 2003 Report Share Posted February 12, 2003 Hats off to Mark. I don't know how you can write a new column every day that is bitch slap funny, current, and non-repetitive. I guess it's talent, intellect, insight, and wickedness. Great combination for these times, and this site. Tanks for the work. BW You too Buddha- it must be a CA thing. Link to comment Share on other sites More sharing options...
Hypertiger Posted February 12, 2003 Report Share Posted February 12, 2003 The Feed Index is not looking so good... the Evidence of "contraction" or the honest to goodness signs of debt deflation must be covered up... Walls of money come in handy but in order for a wall of money to be stable or grow it must be ?pyramided? or expanded by borrowing from commercial banks otherwise it can not be sustained and contraction takes over? the ?soft spots? starting to appear are a symptom of massive debt deflation that is vaporizing the money/debt supply? they are having a tough time covering the damage up. At some point it will be impossible to cover it up? Then the fun will begin? Link to comment Share on other sites More sharing options...
Pretzel Logic Posted February 12, 2003 Report Share Posted February 12, 2003 Yes, excellent commentary again, Mark. I, too, am impressed with your never-ending stream of original and witty commentary. _____________________________________ Totally Irrelevent Aside: I keep seeing that "flockofsheeples" name in the Current Users list, and it never fails to get me laughing. The mental image I get from that is priceless... some weird combination of sheep and sheeple and 80's punk hair, all migrating in the characteristic "V" shape to warmer climes. Great name! Link to comment Share on other sites More sharing options...
sweefraapp Posted February 12, 2003 Report Share Posted February 12, 2003 Found a winner on the long side ? DUCT ? The tape company. Short this one on the open ? BPL ? Baghdad Power and Light. Dick Butt: great name. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted February 12, 2003 Report Share Posted February 12, 2003 Bumberg reported that Al Green said that the economy would bounce back after the uncertainty of the Eye-rack conflict was removed. I listened to him, and he didn't say that. He just didn't. He didn't imply it either. It's very frustrating. Agreed, this is what he said: The intensification of geopolitical risks makes discerning the economic path ahead especially difficult. If these uncertainties diminish considerably in the near term, we should be able to tell far better whether we are dealing with a business sector and an economy poised to grow more rapidly--our more probable expectation--or one that is still laboring under persisting strains and imbalances that have been misidentified as transitory. If anyone missed the speech, here's the text: http://www.federalreserve.gov/BoardDocs/HH...y/testimony.htm This bit, taken from the middle, grabbed me: Other consumer outlays, financed partly by the large extraction of built-up equity in homes, have continued to trend up. Most equity extraction--reflecting the realized capital gains on home sales--usually occurs as a consequence of house turnover. But during the past year, an almost equal amount reflected the debt-financed cash-outs associated with an unprecedented surge in mortgage refinancings. Such refinancing activity is bound to contract at some point, as average interest rates on outstanding home mortgages converge to interest rates on new mortgages. However, fixed mortgage rates remain extraordinarily low, and applications for refinancing are not far off their peaks. Simply processing the backlog of earlier applications will take some time, and this factor alone suggests that refinancing originations and cash-outs will be significant at least through the early part of this year. MWH's translation: the early part of this year is nearly over and then the party will be too. MWH Link to comment Share on other sites More sharing options...
Miss Moneypenny Posted February 12, 2003 Report Share Posted February 12, 2003 In honor of tonight's speech, the Marine Corps has commissioned a new monument. Link to comment Share on other sites More sharing options...
BigWave Posted February 12, 2003 Report Share Posted February 12, 2003 every night at exactly 3am the futures lift off like a missile. Meester Hanky the Christmas Poo, 3am is when the FTSE opens, and the futures tend to loosely follow the action there. If the FTSE opens up, the futures usually head up. If the FTSE opens down, the futures usually move down. Not always, but there's a definite correlation. The nightly fucutures market is largely irrelevent anyway, imo. Fokker, I hear ya'. I finally convinced my mother-in-law to get out of the market last November (after the Oct. rally). I had been trying since 2000. Even THEN (November), her broker *almost* talked her out of it again. My father-in-law has flatly refused to listen to anything I've said, and is currently down 40%... I've told him that's better than being down 80%, but he's going to "ride it out, no matter what." He's my contrary indicator. When he finally sells, the new bull will be just around the corner. It's amazing how conditioned (read: brainwashed) so many people have become. Same here. The trust manager running my Mom's money kept telling her that her stock allocation (70%)was the same as his Mother's- Don't worry. Late in 1999 I appealed to her depression-era experience and convinced her that she could LOSE her money. (Of course, Chicken Little had gotten out in early 1999 and missed the last Bull hurrah, I'm usually early. Thanks to Stoolville, Iwon't leave the show early this time.) We cut the allocation to 10% and then sold that late in 2000. In a recent meeting, the manager lamented that he had only recently reduced his Mom's allocation. BW Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2003 Report Share Posted February 12, 2003 Wary Eye Back in Socket 2/11/03 Doc has had a wary eye on the 6-7 week cycle lately. After Tuesday's market action, he put it back in its socket. He tells you why he put it back, in your Anals tonight. And, as usual Doc chronicles the market cycles, and tells us where this shipwreck is heading, with hot pictures of naked stock charts, the Long Bong Hit, Uncle Buck and the Golden Stool. Will Uncle Buck ever get out of his sick bed? Will the Golden Stool ever recover, or is the move over now that Cramer is on board? Drop by your stock proctologist's office, and get the inside picture, all in the Anals tonight.? Stoolies, log one in. If you're not a stoolie already, become one Now! And don't forget to join Doc during the market day in Stooltrading Beta as he plots the market's twists and turns for you, in advance yet! Link to comment Share on other sites More sharing options...
longOnUranus Posted February 12, 2003 Report Share Posted February 12, 2003 Greg, Prtzl - I've given up on telling my relatives how invest. As the market is today, you're either sheep or the shepherd. IOW, if you don't want to follow and learn the market, you should have no position at all - be in cash. I quit recommending what to buy/sell last summer; even gold is too risky for the uninformed. And, when gold is at 5k/oz, and all the sheep want gold linen and panty liners...I will sell. Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2003 Report Share Posted February 12, 2003 A quote from tonight's Anals. Total Feed remains in a steep short term downtrend in spite of Al's three day mini-jam. Now that Jim Bunning has tossed another perfect game while falling off the mound by calling Al a boob, we can only wonder how Al will react. Just like the '64 Mets perhaps. What would Choo Choo do? What would Casey say? Come to think of it, Al's beginning to sound a lot like Casey these days. All you can do is stand there, scratch your head and wonder what the hell he just said. Link to comment Share on other sites More sharing options...
torah man Posted February 12, 2003 Report Share Posted February 12, 2003 this time the escape key did not stop the song. what should i do now??? stop, stop. Link to comment Share on other sites More sharing options...
Metamucil Posted February 12, 2003 Report Share Posted February 12, 2003 AMGN is now testing former shport. The wedge projects to about $12. This is where I may INVEST in the bioturd.....if the markets are still open. Next major short positions on BTK (via BBH): 301 and 275. Link to comment Share on other sites More sharing options...
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