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Really weak-end thread Aprl 30th- May2nd


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Well TE-the Pig is finally dying today was great, even better was the collapse in the last 6 minutes there wasn't a buyer on the board. No bounce just down hard-lots more to come! ;)

I bought more puts at the high. 1119 was close enough to 1120. However, I did sell those at 1108. I expect the market to collapse on Monday or waffle around until Fed speake on Tuesday and than fall apart. Again, if we rally into the 1120-1130 area I will short more. Still have June's (i won't let them go).

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Bong Yield At Short Term High

 

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In my experience, parabolic moves up or down tend to fail. Unfortunately for the Nasdaq, this sell off has been nice and controlled all the way down. Check out the 13dma - I couldn't have drawn that line straighter if I used a ruler. These straight line moves can go along way. Not good if you're long.

post-20-1083358208_thumb.jpg

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Yes-TE-I'm still short with a nice profit locked and I cashed a nice one yesterday-Twig has a good point another good point is VXO, VIX and QQV still show "no fear" when the first two get over 40 then I'll get concerned. With the complacency where it is a CRASH would not be out of the question. ;)

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Monday, May 3

Treasury Department announces weekly sale of 4-week bills, 11 a.m. (1500 GMT).

 

U.S. Treasury Secretary John Snow speaks before the Council of the Americas, Washington, D.C., 11:30 a.m. (1530 GMT).

 

Treasury Department's weekly sale of 3-, 6-month bills, about 1 p.m. (1700 GMT

 

Tues, MAY 4

*WASHINGTON - World Bank President James Wolfensohn speaks before the Greater Washington Business Philanthropy Summit, 0830/1230

 

*WASHINGTON - World Bank 16th Annual Conference on Development Economics

 

-- "Behavioral Economics" with Sendhil Mullainathan of the Massachusetts Institute of Technology, 1000/1400

 

WASHINGTON - Federal Open Market Committee holds one-day meeting on interest rate policy, 0900/1300

 

WASHINGTON - Commerce Dept. issues Factory Orders for March, 1000/1400

 

WASHINGTON - Treasury Dept. holds weekly sale of 4-week bills, 1300/1700

http://www.forbes.com/markets/economy/news...rtr1355585.html

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MCCAIN LETTER TO SINCLAIR BROADCAST ON PREEMPTION OF NIGHTLINE

For Immediate Release

Friday, Apr 30, 2004

 

U.S. Senator John McCain (R-AZ) issued the following letter today to Mr. David Smith, President and CEO of Sinclair Broadcast Group, in response to the preemption of this evening?s Nightline program:

 

I write to strongly protest your decision to instruct Sinclair?s ABC affiliates to preempt this evening?s Nightline program. I find deeply offensive Sinclair?s objection to Nightline?s intention to broadcast the names and photographs of Americans who gave their lives in service to our country in Iraq.

 

I supported the President?s decision to go to war in Iraq, and remain a strong supporter of that decision. But every American has a responsibility to understand fully the terrible costs of war and the extraordinary sacrifices it requires of those brave men and women who volunteer to defend the rest of us; lest we ever forget or grow insensitive to how grave a decision it is for our government to order Americans into combat. It is a solemn responsibility of elected officials to accept responsibility for our decision and its consequences, and, with those who disseminate the news, to ensure that Americans are fully informed of those consequences.

 

There is no valid reason for Sinclair to shirk its responsibility in what I assume is a very misguided attempt to prevent your viewers from completely appreciating the extraordinary sacrifices made on their behalf by Americans serving in Iraq. War is an awful, but sometimes necessary business. Your decision to deny your viewers an opportunity to be reminded of war?s terrible costs, in all their heartbreaking detail, is a gross disservice to the public, and to the men and women of the United States Armed Forces. It is, in short, sir, unpatriotic. I hope it meets with the public opprobrium it most certainly deserves.

 

 

-end-

http://mccain.senate.gov/index.cfm?fuseact...Content_id=1276

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What a freakin mess-I just read an article on CNN where the former Saadam General who is now apparently working for the U.S. rode thru Fallujah in a jeep wearing his old uniform to cheering throngs waving Saadams old flag. He then said the Americans were wrong to besiege the City and he would take over and restore order and the Americans would leave. Then Gen. Kimmit when hearing of it says no way we are leaving he is going to work with US. Is anybody over there-in charge-it's a total screwup.

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I continue to fall back on the term "tone deaf" to describe every piece of strategy employed by our government since 9/11. If they would have ever stopped to think of the world as portrayed by Bin Laden, and had understood that the war we are in the midst of is much larger than they are apparently capable of comprehending, they NEVER would have made half of the strategic decisions they have made. When everything you do serves to piss off those you are trying to win over, and strengthens the following of your foe, you are without question:

 

A: Intentionally enraging the rest of the world to foster global war, or

B: Utterly brain dead.

 

At least their choices are consistent...they're always wrong.

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I continue to fall back on the term "tone deaf" to describe every piece of strategy employed by our government since 9/11. If they would have ever stopped to think of the world as portrayed by Bin Laden, and had understood that the war we are in the midst of is much larger than they are apparently capable of comprehending, they NEVER would have made half of the strategic decisions they have made. When everything you do serves to piss off those you are trying to win over, and strengthens the following of your foe, you are without question:

 

A: Intentionally enraging the rest of the world to foster global war, or

B: Utterly brain dead.

 

At least their choices are consistent...they're always wrong.

The disease is called...THINK-TANKITISE. :blink: :grin:

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