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Pee Brain.."iwhere's the inflation in the bond market?"

 

The implications of that question..is a classic Sherlock

Holmes........"Why did'nt the dog bark"?

 

Everybody thinking inflation is done deal might have a

surprise coming.............................................................

 

Gold does well in deflation. Gold is going up because

Systemic breakdown in International Trading System

is a real risk...................................

 

Commodities going up does not automaticaly mean

inflation....Shortages in these goods= prices rise

 

Thats called Capitalism.

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Most towns don't allow you to burn leaves anymore. But today you could sure smell that autumnal scent of paper burning.

 

...

You da man

More than that.

 

MachineHead was ON FIRE today baby. He was feeling it!

 

This MH creation, from IDS, must be brought forth:

 

Capacity ute: 75.0%.

 

This is still 7 percentage points beneath the low-eighties level that the Fed is targeting. Ergo the talking heads spouting "indefinite low rates" psychobabble.

 

The Fedheads inhabit an esoteric, academic world of 'output gaps' and 'Taylor rules.' They are dead set on pegging those capacity ute and employment numbers at 'full output' levels.

 

As usual, they will gin up a terrific head of inflation. Then like a panicked newbie driver, they will slam on the brakes and bring the economy to a juddering, smoking halt in the middle of the information highway ... with an 18-wheeler dollar crisis bearing down on it from behind.

 

Today was like a "best of" by MH. As Yogi might say - he was burning his candle at all three ends.

 

Coupled with the excellent, as always, commentary by Mark (a.k.a. Fukui-san's translator), I can say, unequivocally, that I am honored to spend time on this board with such great traders and writers.

 

Doc - take a bow for creating the best damn site anywhere. Without this place, I would be poorer in many, many ways.

 

P.S. I always love it when K-Wave shows up because I know it's going to be a good day. When K-Wave disappears from this bear-board it's like being in Kansas on a hot summer day when suddenly you notice the locusts have stopped thrumming. Something's coming and you probably won't like it. K-Wave has the good grace to bow out (although I would personally vote for a K-Wave 'bear pain-index' meter to be placed somewhere on the board. Perhaps styled as an old time barometer.

 

P.P.S. The 18 wheeler is doing about 85.

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As I understand it, today was a key reversal day in that the indices had to trade above yesterday's high and close below yesterday's low, and it did. Every peak since the bear started, started the decline with a key reversal.

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I don't care what the hell Putnam did, get it SETTLED with them right now!"

 

The State Pension Funds and Elliot Spitzer are furious with the SEC for this one...and there is going to be some serious hell to pay. The biggest problem facing the Matrix at this point is the fact that now Charles Schwab is also implicated. J6P will be leaving now.

 

Plunger, looks like RJF Raymond James is halted now.

 

Ag

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Today was an inside day. Volume was 50% lighter compared

with the previous day and the lightest in the last 10 days.

 

14-Nov-03 11,260,623

 

13-Nov-03 21,505,300

 

12-Nov-03 13,534,300

 

11-Nov-03 18,557,300

 

10-Nov-03 35,650,200

 

07-Nov-03 28,574,400

 

06-Nov-03 19,926,900

 

05-Nov-03 57,922,100

 

04-Nov-03 38,117,100

 

03-Nov-03 20,892,200

post-7-1068848698_thumb.jpg

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As I mentioned on Wednesday:

 

"Friday the market will pop at the open and start selling off as soon as 10:00."

 

Thank you for that pop at the open this morning Al. It allowed me to gang up on as many of your steaming POS charts as leverage would allow.

 

For a picture of the entire scam in a nice little snapshot...check out the last two days of action on Sears:

 

http://139.142.147.22/GifChartEngine.dll?i...refreshrate=180

 

I had the good fortune to short the snot out of this pig within .20 of its 52 week high today...and if you look closely at this chart, you can see the dying gasps of the most arrogant market maker in the Matrix today.

 

For a clear perspective on what a questionable operation this is, you might enjoy the following article from the NY Times:

 

http://www.nytimes.com/2003/11/12/business...ner=MARKETWATCH

 

The goon who runs this stock ramped it up into the headwind of a WMT miss and two days of bad news for retail, still believing that he could force a short squeeze to continue his year-long scam. This is a completely unproven business model, wrapped up in an old tired name, attempting to compete with the likes of Wal-Mart.

 

Short it to zero.

 

The Matrix bullhorners were out in full force today, letting everone know to flee to the safety of drug stocks..."Don't leave the party...there's still some booze left over in this room!"

 

Fact is The Boys are Freaking out! They've seen the needle and the damage done. They know the game is up and there's going to be hell to pay. Did you hear about Al's call to the SEC on the Batphone yesterday?

 

"I don't care what the hell Putnam did, get it SETTLED with them right now!"

 

The State Pension Funds and Elliot Spitzer are furious with the SEC for this one...and there is going to be some serious hell to pay. The biggest problem facing the Matrix at this point is the fact that now Charles Schwab is also implicated. J6P will be leaving now.

 

TEN SIGMA ANYONE?

 

Plunger

Plunger I agree with you on Sears... they sold the profitable unit to CIT.

 

Folks I work with have been to the Sears that's featured in that article... they still like their WMT over the Sears deal.

 

I spoke to a Carrier rep today... he mention AAON. AAON makes heating units, both large & small. AAON has the contract for all of WMT's new stores.....

 

We're getting lots of snow in da mountains... should be killer this year. (did ya hear that Pee brain?)

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Most towns don't allow you to burn leaves anymore. But today you could sure smell that autumnal scent of paper burning.

 

...

You da man

More than that.

 

MachineHead was ON FIRE today baby. He was feeling it!

 

You got that right. Great job Stoolies.

 

Doc has created the best site for the discussion of bear market trading on the web.

 

Looking forward to the next roundtable discussion.

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t's not stopping....Another round of spew....Into the night we drift.....

 

(REUTERS) FED'S POOLE SAYS EXPECTS U.S. INFLATION ENVIRONMENT TO REMAIN "BENIGN"

MORE

 

I'm wondering when they are done working they go home, open their coat closet which is empty other then the 4 foot wooden pole six feet above the ground, throw some dirt on the floor the sling their legs over the coat rack hanging upside down until the next time they are needed.

 

Ag

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P.S. I always love it when K-Wave shows up because I know it's going to be a good day. When K-Wave disappears from this bear-board it's like being in Kansas on a hot summer day when suddenly you notice the locusts have stopped thrumming. Something's coming and you probably won't like it. K-Wave has the good grace to bow out (although I would personally vote for a K-Wave 'bear pain-index' meter to be placed somewhere on the board. Perhaps styled as an old time barometer.

:lol: :lol: :lol:

 

If we break down next week, the Bears shouldn't have too much pain fur a while.

 

If we don't...well, you don't wanna even go there.

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This is how I see things. The bears (us) have been in a grinder for far to long. Everyone and their mother is long or if short, covers fast. Why? becuase we have been conditioned over the last nine months to FEAR another rally. Another rally might happen but cycles and Elliott point to a TOP here (todays) or slightly higher next week. Yet bears are not seeing it and bulls see every dip as a ho hum event. We are on the cusp of a big decline. IMHO. Whether that be 12-16% or more I have no idea. I'll tell ya this. I will be short (am already).

 

I had alot more to say about this but, it escapes me at this time.

 

EDIT- Todays Key reversal is telling (perhaps).

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I'm probably wrong, but here's my WAG:

 

Mom & Pop are sitting home this weekend, and the headline in Time Magazine screams "Are they all CROOKED?"

 

Then comes the barrage of news reports in all the popular media about the SEC trying to sweep the Putnam mess under the rug, all while another three or four names of widely held mutual funds are implicated...and it suddenly dawns on them that the SEC has been in cahoots with these crooks the whole time...just like Grasso was in cahoots with the criminals at the NYSE.

 

Fox - Henhouse. Makes sense now.

 

"So all of the Operators have just been pushing our money around the plate and taking some for themselves in the process...and if we send more money in now, they're just going to have to use it to pay off other clients who are demanding their money back? Our money is being used to pay for their sins? That's it - I'm done sending my money to these guys."

 

This is the POR - this weekend. And even if its not the POR for J6P, this will be a scam week unlike any other...and the game is over. Just the fear of Redemption calls is going to drive The Boys to get their positions sold. The panic in the markets next week will not be the retail investors getting out, it will be the Matrix Operators racing to get out...in front of each other.

 

As one zebra said to the other:

 

"I don't need to outrun the lion, I just need to outrun you!"

 

It ended today - 11/14/03

 

We now return you to your regularly scheduled bear market, already in progress.

 

Plunger

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