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B4 The Bell Fryday April 2,2004


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Guest yobob1

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I won't post the "too wide" Kitco charts this morning. I warned Kitco that they needed to expand their charts. :lol: Silver ran right off the top early this morning in London. If I didn't know better it looks like a bit of squeeze to the family jewels. Where it ends today is up to the matrix of course, and they may be continually reloading their already outrageous short position ( 9 times the short positon in relation to longs - some "balance" eh?). The biggest problem is that unlike other pieces of hot traded paper, silver is in a serious deficit with few remaining stockpiles and at some point when enough people start asking for the real thing instead of accepting the paper promise it will blow sky high.

 

If you missed reading this month's issue of Contrary Investor, Contrary Investor do so at your earliest opportunity. Of course they, as we must all suffer with, are dealing with lagging data. I think we will soon arrive at the POR in real estate in the US and elsewhere on the globe as well. I feel if you don't have at least 20% equity in your home in the quieter markets and perhaps as much as 50% in the "hot" markets, you may well find your self underwater in a very short amount of time. Of course if you lose your income, stick a fork in yourself - you're done. Best hustle on down to Sears and grab that side-by-side refer box off the loading dock before someone else beats you to it. Debt is what kills in the K-Winter.

 

Sleddog's dogged tracking of the layoffs and plant closings reveals no discernable change in trend long term and short term a marked acceleration. You can believe any of the government data you like, but the reality is the middle class is getting slaughtered. You know, your next door neighbor with the 97% mortgage, 2 SUV payments, a boat payment and credit card debt up the ying yang. The day of reckoning is not far off. Despite what the relationists say, there is no calvary riding to his rescue. Price inflation may get a slight toehold for a few months, but with J6P(blue and white collar) going down, price inflation will get it's foot cut clean off. I still feel that for the most part the commodities bull will be neutered within 6 months.

 

Even if you're not a trader, a subscription to Doc's Anals gives you access to what may be the best constantly updated data set available. The totality is the kind of information that a lot of people can apply to their own situations and perhaps stay ahead of the trends enough to save their own skins, if not profit from. They say you get what you pay for, but in this case you get more than what you pay for.

(Full disclosure - I'm not getting paid to say this even though I might say it more often if I was. :lol: )

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Well folks it is "Jobs Friday" and by the looks of things everyone on Crapvision has already taken a sip or two from the punchbowl. If I didn't know better I would be inclined to believe that everyone thinks a good jobs number is a slam dunk

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Unless the silver shorts manage to get the futures market closed soon, they are looking at huge losses. The CFTC, whose record for ineptness is legendary, may still save the shorts but I doubt it. As long as the silver buyers want delivery, there is not much paper short sellers of silver can do about it.

 

By all means we are headed for a real estate crash. The real question is - what will Alan Greenspan and his board of Weimar republic hyperinflationists do? The Fed may turn on its liquid-cooled supercomputers to pour out money faster than ever. Of course that would be the end of the dollar as we know it, but instead of bankrupting those who purchased homes without savings, they may try to bankrupt those that saved and didn't buy homes through the more subtle combination of high inflation and negative real interest rates.

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Well folks it is "Jobs Friday" and by the looks of things everyone on Crapvision has already taken a sip or two from the punchbowl. If I didn't know better I would be inclined to believe that everyone thinks a good jobs number is a slam dunk

The attention given to the biggest lie on the planet month after month is laughable. After the inflation number yesterday does anyone believe we will ever hear the truth again? I long for the day when economic stats are done by an independent group with no ulterior motives. Integrity has left the house long ago. Where is the outrage? We are a programmed population living in a sea of deceit corruption and untruths. Never have so many been fooled by so few.

 

Nice to see silver hit $8.50 last night as we are overcoming one of the many lies that make up the foundation of fundamental investing.

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Guest yobob1
If we knew what the Fed would do we would all be rich. That is the issue in the deflation/inflation debate. Both courses lead to ruin.

Of course ruin is rather deflationary. :P

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Unless the silver shorts manage to get the futures market closed soon, they are looking at huge losses. The CFTC, whose record for ineptness is legendary, may still save the shorts but I doubt it. As long as the silver buyers want delivery, there is not much paper short sellers of silver can do about it.

 

By all means we are headed for a real estate crash. The real question is - what will Alan Greenspan and his board of Weimar republic hyperinflationists do? The Fed may turn on its liquid-cooled supercomputers to pour out money faster than ever. Of course that would be the end of the dollar as we know it, but instead of bankrupting those who purchased homes without savings, they may try to bankrupt those that saved and didn't buy homes through the more subtle combination of high inflation and negative real interest rates.

Closing the comex is something I have always been concerned with.

Silver has been the most shorted and abused commodity on the planet for as long as I can remember. Make no mistake there are some very big players involved in this travesty that the central planners will go to all lengths to protect. A derivatives accident in the making? I don't know, but rest assured there are some deep problems developing with the paper pushers who must be on the verge of all out panic.

 

I have finally been paid back for many years of pain investing in something that has been the object of criminal behavior. One day the sham will be exposed for what it really is. Those that brutalized the longs will have to answer some very tough questions. I also believe law suits never seen before are on the horizon

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Ouch, that's gotta hurt!

 

 

7:48am 04/02/04 [sUNW] SUN MICRO TO CUT 3,300 JOBS

 

7:49am 04/02/04 [sUNW] SUN MICRO TAKING $475 MLN CHARGE OVER SEVERAL QUARTERS

 

7:49am 04/02/04 [sUNW] SUN MICRO SAYS SETTLING ALL MICROSOFT LITIGATION

 

7:47am 04/02/04 [sUNW] SUN MICRO SEES Q3 REVS AT $2.65 BLN

 

7:47am 04/02/04 [sUNW] SUN MICRO SEES Q3 LOSS 23-25C

 

7:47am 04/02/04 [sUNW] SUN MICRO SEES Q3 ADJ LOSS 6-8C

 

7:48am 04/02/04 [sUNW] SUN MICRO Q3 FIRST CALL AVG LOSS 3C

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7:56am 04/02/04

Sun Micro cuts jobs, warns on Q3, settles with MSFT (SUNW) By Tomi Kilgore

NEW YORK (CBS.MW) - Sun Microsystems (SUNW) said it would cut 3,300 jobs as part of a corporate restructuring, warned that fiscal third-quarter results would miss expectations, and said it has entered into a cooperation agreement, and settled all outstanding litigation with Microsoft (MSFT) . The company expects to record a $475 million charge, including $200 million in the third quarter, for the job cuts and portfolio capacity reductions. The server maker added that it expects losses, excluding any charges, for the quarter ending March to be 6 to 8 cents a share and revenue to be $2.65 billion, below the average anal cyst estimates of a loss of 3 cents a share and revenue of $2.85 billion. "We are resizing the company to better align our cost structure," said Chairman Scott McNealy. "Network omputing solutions that solve our customers' complex computing problems remains our focus." The stock was last down 26 cents, or 6.2 percent, at $3.93 in Instinet pre-open trading.

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611 to lose jobs at J. Ray McDermott

Down cycle blamed for layoffs at yard

Friday April 02, 2004

 

Marking the end of a boom in business at its fabrication yard near Morgan City, J. Ray McDermott Inc. plans to lay off 611 workers at the facility in the next two to three months, as the company completes a series of deepwater projects for BP.

 

http://www.nola.com/business/t-p/index.ssf...89306343790.xml

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Dow Jones Massive Fraud Exposed by Stock Proctologist.

 

Investing World Says, "So What"

 

Dow Jones and Company, You are a fraud. Please sue me now so I can expose your scummy, fraudulent history for what it is in a court of law. You scum, you creeps, you bums, you con artists, you frauds.

 

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Support Stock Proctology! See the inside scoop daily, in the Anals of Stock Proctology. Take a subscribatory and download your Anals NOW!

 

Click the link below for immediate access to the Anals.

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