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B4 the Bell, Moonday Aug. 9, 2004


Guest yobob1

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RE: Post.......Elite Trader

 

Trader5287

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Registered: Dec 2001

Posts: 484

 

 

New Post 08-09-04 11:36 PM

 

" Back in 2000 a Republican friend warned me that if I voted for Al Gore and he won, the stock market would tank, we'd lose millions of jobs, and our military would be totally overstretched. You know what? I did vote for Gore, he did win, and I'll be damned if all those things didn't come true!" - - James Carville

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Same thing happened to me with my 3 other websites. Thought they were offline, but they weren't. My browser had cached the old url page. Anybody behind a firewall will get the same message until the firewall updates its dns list.

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Update 1: La-Z-Boy to Lay Off at Least 645

Closing those plants and associated warehouses in Pennsylvania will result in layoffs affecting 425, or 15 percent of the company's employees

http://www.forbes.com/home/feeds/ap/2004/0.../ap1497522.html

 

Miramax cutting at least 120 staff to boost profits

The layoffs of about 35 percent of Miramax's staff are expected to take place across all areas of the firm, with the majority targeted at the mid- to

http://feeds.bignewsnetwork.com/?rid=a2581...d8845aa60952db2

 

Biomed rounds: Biopure?s tumble has investors staying away but ...

In an effort to cut costs, Biopure is shedding personnel. At one time it had 250 employees, but after layoffs in June it is down to 70

http://www.masshightech.com/displayarticle...sp?art_id=66318

 

ITC DeltaCom losses widen

Since July 2003, ITC has cut 320 jobs of a planned 365 job cuts. ITC has about 200 Triangle employees remaining.

http://triangle.bizjournals.com/triangle/s...tml?jst=b_ln_hl

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Major banks in Canada cut mortgage rates today.

Im a little surprised as all the talk has been the central bank will be raising next meeting. I guess not.

Off to California tomorrow. Going to miss all the fed fun.

I dont think the market is going to take another quarter to well...if it comes. Im scary short but will be stopped if things get too silly.

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Sleddy- don't you luv those pricks like Miramax who say we are laying off to boost profits-they can only do that once and then what?? They just did the same thing here in Canada right across the country. Drudge is carrying a story where Reuters is opening an editorial office in Bangalore, India. Senior American editors are toast. So soon our news will be what is seen thru the eyes of the Indian Press-lovely huh! ;)

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Joe Granville on Tom O'Brien show at 5:20 eastern time today, give or take a few minutes. He has been very bearish, and very right this year.

Granville calling for a crash. Straight down until Nov. He's say either cash or short are the only places to be now.

Joe was around for Oil Shocks I and II, and probably remembers how a doomed market kind of teeters and weaves on the edge of the cliff before plunging decisively over it.

 

He wrote a book analyzing in detail the DJIA's moves throughout the Seventies, concentrating on OBV (On Balance Volume) and 50% retraces. I was impressed by his willingness to share his methods and teach others.

 

The first "market letter" I ever saw was Joe Granville's, sent by my dad in June 1980 on that shiny, chemically-treated paper that was used in copiers at that time. A rally had started in March 1980. Joe said "the headlights of the rising market are illuminating the road ahead" ... in sharp contrast to the Wall Street Journal, which expressed disdain and skepticism every day about "this surprising rally." The rally lasted till April 1981, when rising interest rates killed it. Joe was right, and the WSJ (as usual) was dead wrong.

 

Joe may nearing the end of his career as a strategist, but I'll bet his gut instincts are as good as ever. Sometimes there is no substitute for decades of experience, to sense subtle qualities in the market that computers, robots and charts don't pick up ... the social zeitgeist if you will. I'd certainly like to see Joe go out on a high note with his bold prediction, which I totally endorse.

 

Death to the Naz! Death to the dollar!

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On that note MH- 4 of the hottest timers this year have been Russell, Howard Ruff, Granville and Harry Browne. When the heats on gimmee that old time religion-they have more experience in their little finger than all the new age guru's who wouldn't know a bear market if it fell on them. On another note Terrorism comes in all flavors- just outside vancouver this morning A Ex shot his wife and then shot at the Mounties leading them on a 40 mile chase where he kept shooting out windshields etc. finally he was forced off the road, fled still firing until 4 Mounties shot him a total of 25 times (I am sure when he fell over someone staked him for a lead mine) good riddance may Osama meet the same fate! ;)

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In my opinion Joe don't get enough credit. Loved the show he used to put on. Behind the clown lies a genius.

In the old days of hand-plotted charts, market strategists really got deeply into the numbers.

 

They knew the daily opens, highs, lows, closes, and volumes in both tabular and graphical form ... and were capable of recognizing some subtle patterns there.

 

Sometimes lessons sink in, when you spend that many hours immersed in detail, that you just don't see glancing at a computer-generated chart for 20 seconds.

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