Lock Limit Down Posted January 9, 2004 Report Share Posted January 9, 2004 Mark once quoted extensively from a book about the LTCM (Long Term Capital Management) debacle in 1998. Easy Al stepped in, because LTCM's vast leveraged bets were moving against them. Liquidating those bad bets overnight could have 'seized up' the markets, because there just weren't enough bids to unload into. Six years later, Al Greenstool is the world's largest hedge fund operator. He's running a $1 trillion 'LTCM custody account' pool. He's put his clients -- Asian central banks, mostly -- into massive leveraged-long bets on T-bones and the dollar. Meanwhile, Al -- like many of your cannier boiler-room operators -- is an insider who's doing constant secondary offerings of dollars himself, while his partner and sidekick Snowman does the same with the T-bones. What a scam! You double-dippers crack me up! Just one little fly in the ointment -- Mike Milken, are you with me here? -- assume a 20% haircut on the dollar's drop, and a potential 10% on the bonds, and you're looking at $300 billion of losses. That's 30% of Japan's annual budget, to highlight one of Al's LTCM hedge fund clients. No client has that kind of capital on hand, in cash. If the nervous clients bolt, Al's hedge fund cannot possibly liquidate without seizing up the markets. But ... who's gonna rescue the rescuers? Outstanding MH The man pulling all the levers is out of control LTCM was suppose to be a huge wakeup call. Same act this time, just different players. What a frightening game they are playing. Hyper has got it nailed. Desperate men with absolute power taking desperate measures. Link to comment Share on other sites More sharing options...
The End Posted January 9, 2004 Report Share Posted January 9, 2004 I'm sure glad I didn't have to go long today. Sold longs in orcl & mrk. Have a great weak-end stoolies. I expect a pretty fast move to the 1080ish level on the spx. Link to comment Share on other sites More sharing options...
FeedFool Posted January 9, 2004 Report Share Posted January 9, 2004 Joke Chart Link to comment Share on other sites More sharing options...
Guest Posted January 9, 2004 Report Share Posted January 9, 2004 CarMax is screwed. GM announcing even more incentives for the coming year...fianacing rates will continue to be low and used car sales are going to screech to a hault. Just assume that the inventory sitting on their lots right now is actually depreciating every day. Look Out Below! KMX http://139.142.147.218/StockChart_ImageOnl...=INX&ref_rate=0 Link to comment Share on other sites More sharing options...
Guest Posted January 9, 2004 Report Share Posted January 9, 2004 I'm sure glad I didn't have to go long today. Sold longs in orcl & mrk. Have a great weak-end stoolies. I expect a pretty fast move to the 1080ish level on the spx. I see it! :wink2: Link to comment Share on other sites More sharing options...
DrStool Posted January 9, 2004 Report Share Posted January 9, 2004 No doubt about it. The best thing about this message board is Link to comment Share on other sites More sharing options...
DrStool Posted January 9, 2004 Report Share Posted January 9, 2004 the chart thumbnails and fullsize chart in separate window. :lol: Link to comment Share on other sites More sharing options...
Guest Posted January 9, 2004 Report Share Posted January 9, 2004 . . . .the cookies? Link to comment Share on other sites More sharing options...
Guest Posted January 9, 2004 Report Share Posted January 9, 2004 DIA Chart: http://139.142.147.218/StockChart_ImageOnl...=INX&ref_rate=0 Link to comment Share on other sites More sharing options...
wndysrf Posted January 9, 2004 Author Report Share Posted January 9, 2004 The OSX has been in a triangle pattern for the last 3 years, and in a bear market since 1997. The chart before today's break to the upside. (See below). Now, here are the major OSX constituents, all of which broke above the downtrending triangle line with huge volume. http://stockcharts.com/candleglance?$...,BHI|C|A12,26,9 The move has just started. A new oil exploration boom has begun. The first one since the 1980's. More confirmation of the building commodities explosion. Link to comment Share on other sites More sharing options...
fxfox Posted January 9, 2004 Report Share Posted January 9, 2004 just heard greenheimer will visit germany next week. A "new Year" invitation from Bundesbank it is said. Gr?nspinner will speak about globalization or something. Buba: How about givin him da finger, like Baker in 1987? headline of next wednesadays NYT: GREENSPAN LEFT AS A KING - CAME HOME AS A BUM Link to comment Share on other sites More sharing options...
Blix'em Posted January 9, 2004 Report Share Posted January 9, 2004 Hi aul Stoolies, From the shadows eye observed the proliferation of trading programs/robots. Could this be the Master?? /* 20th Century economix programme */ MAIN void() DECLARE fiat float; POP production; PUSH consumption; REPEAT IF in [politics] THEN FROM 7 to 11 DO null() ELSE CALL broker(long $paper) UNTIL gAUld; PRINTF disclaimer; THE END /* otwawki */ Gutt Nite Link to comment Share on other sites More sharing options...
purdymouth Posted January 9, 2004 Report Share Posted January 9, 2004 Tokyo trading Sunday night? Link to comment Share on other sites More sharing options...
Farmer Posted January 9, 2004 Report Share Posted January 9, 2004 Mousey do you have any upskirt pictures of Mrs Desmond. What , What were still live. On air Cut, cut, shit , dam. I was taalking ah ah about up town pictures of shirts. Ah sorry did I say something wrong . Yep it suppertime in Sas Catch a Wand. May the STUN be with You all this weekend. Link to comment Share on other sites More sharing options...
brian4 Posted January 9, 2004 Report Share Posted January 9, 2004 My two favorite recollections of today-1. That pimp Krudlow bleating"it will be higher than what everyone thinks" then watching his face turn vomit green after the annoucement. 2. Seeing Ace reporter-Bob Pisson mee sweating like a hog, hair akimbo his suit rumpling before our eyes trying to spin it as just a needed pullback-he must have lost at least 2 quarts of olive oil by days end. Trade Safe! Link to comment Share on other sites More sharing options...
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