DrStool Posted September 1, 2009 Report Share Posted September 1, 2009 More Little Lies and Big Spin- Gains or Blips? by Lee Adler, Tuesday, September 1, 2009, in Economics, Housing, Today's Markets | Permalink |Comments (0) Edit The FIM (Financial Infomercial Media) has gifted us with more nonsense today in the form of Pending Homes Sales data from the NAR (Realtors) and the Purchasing Managers Manufacturing Index from the ISM (Purchasing Managers). Bloomberg was positively ecstatic about the housing data, proclaiming “The number of contracts to buy previously owned homes rose more than forecast in July and increased for a record sixth consecutive month, reinforcing signs that the housing market is steadying.” (Continued) Link to comment Share on other sites More sharing options...
Bungster Posted September 1, 2009 Report Share Posted September 1, 2009 Heard the Bama on the radio talking about the H1N1 virus and inoculation of federal workers.... Link to comment Share on other sites More sharing options...
Trader Joe Posted September 1, 2009 Report Share Posted September 1, 2009 I don't really think too much Dennis Fartman......basically he's a hack Doug Kaas on the other hand has always impressed me to varying degrees He nailed the recent bottom, almost to the day, if not THE day.....last week he called the top, of we loose 1,000-1,500 from here, he's gonna look like a genius Here he is yesterday with Krudlow<------ Link to comment Share on other sites More sharing options...
mdporter Posted September 1, 2009 Report Share Posted September 1, 2009 Went long 400 shares of SRS this afternoon. Looks like a good setup. No gap up this time. Link to comment Share on other sites More sharing options...
swordfish Posted September 1, 2009 Report Share Posted September 1, 2009 The time has come for gold http://www.bankfotek.pl/image/376441.jpeg http://www.bankfotek.pl/view/376441 Link to comment Share on other sites More sharing options...
Trader Joe Posted September 1, 2009 Report Share Posted September 1, 2009 Trader Joe is getting the popcorn & beer ready for the "Lost Money" PM Edition......haven't purposly watched it in forever, but Ags is making me feel that I am missing out.....so I'm back in Incidentally, wasn't Eddie Munster yapping about oil......"you have got to be in this trade"......when it busted a nut over $73 the other day? Whoopsiedoodle.......more lost money from your bros at, well, "Lost Money" Link to comment Share on other sites More sharing options...
Charmin Posted September 1, 2009 Report Share Posted September 1, 2009 Gap fill already occured at 999.50 and 979.50. Open gap at 912.50 http://trainingfortraders.com/Blog/index.php Link to comment Share on other sites More sharing options...
Trader Joe Posted September 1, 2009 Report Share Posted September 1, 2009 The time has come for gold Mish on Gold <------ snip below Gold Seasonality And Fundamentals By the way, I happen to agree with professor Lewis that gold seasonality is favorable. I agree with him that the intermediate to long-term fundamentals for gold are positive. We simply differ as to what those fundamentals are. At times, in unfavorable seasonality gold has rallied. At times it doesn't. And please don't think that gold does well in times of inflation and deflation because it doesn't. Proof is simple: There was inflation every step of the way from 1980 to 2000 with gold dropping from 850 to 250 while every other asset class soared. Gold does well in times of credit stress (stagflation, hyperinflation, or deflation). I think we can all agree (one way or another) that this has been a period of high credit stress. Short-term I do not know, nor does anyone else what gold will do. Last year at this time, in spite of favorable seasonality gold sold off. However, unlike most other commodities, gold regained nearly everything it lost. Are we in for a repeat? No one really knows. However, should a dollar crash occur and gold soar, given that I own gold I would benefit. On the premise that gold is money and gold should do well in deflation, I did expect gold to hold up well and it did. Prechter, who does not view gold as money, thinks gold will collapse. Thus, not all deflationists think alike. This post is long enough. Inquiring minds may wish to consider Countdown To Dollar Implosion Madness for a discussion of how trade deficits affect the situation. Link to comment Share on other sites More sharing options...
drwells Posted September 1, 2009 Report Share Posted September 1, 2009 It amazes me to look at that Liquidity Supplied to Primary Dealers chart and think that it's the purposeful action of thinking people. It looks like something from the most brainless level of nature, like an earthquake or a heart attack. They now have the line right back to where it would have been absent the chasm that started in Dec 2007. So why did they ever bother? Link to comment Share on other sites More sharing options...
mdporter Posted September 1, 2009 Report Share Posted September 1, 2009 <h2 class="post-title">More Little Lies and Big Spin- Gains or Blips?</h2> by Lee Adler, Tuesday, September 1, 2009, in Economics, Housing, Today's Markets | Permalink |Comments (0) Edit The FIM (Financial Infomercial Media) has gifted us with more nonsense today in the form of Pending Homes Sales data from the NAR (Realtors) and the Purchasing Managers Manufacturing Index from the ISM (Purchasing Managers). Bloomberg was positively ecstatic about the housing data, proclaiming “The number of contracts to buy previously owned homes rose more than forecast in July and increased for a record sixth consecutive month, reinforcing signs that the housing market is steadying.” (Continued) The NAR should be arrested for lying to the public. That could be the new crime of the 21st century. Almost the entire media and government, plus the heads of major corporations, would all go to jail. The RE selling season is over where I live, but all of a sudden I'm starting to see a few new places pop up for sale. Weird. Nobody lists at the end of August unless they have to. It'll be interesting to see if more places pop up. Link to comment Share on other sites More sharing options...
Ags Nightmare Posted September 1, 2009 Report Share Posted September 1, 2009 Trader Joe is getting the popcorn & beer ready for the "Lost Money" PM Edition......haven't purposly watched it in forever, but Ags is making me feel that I am missing out.....so I'm back in Incidentally, wasn't Eddie Munster yapping about oil......"you have got to be in this trade"......when it busted a nut over $73 the other day? Whoopsiedoodle.......more lost money from your bros at, well, "Lost Money" Eddie has been all over the long oil and commodity trade... Jimmy Jones and pony tail One were pumping Potrash at 98 the other day...Groucho will be like a pig in sheet...and Pony Tail Two will be replaced by another drone who can talk ten minutes without taking a breath...Ming has been sent off to some undisclosed location to have the size 11 steel toed boot removed from his arse... Theme for today..."protection"..."gotta take profits"..."look for your price points"...."look for "names" that were strong today like Rimm job' " gotta be in that "space".... and "Pray for a rally to get out".... Link to comment Share on other sites More sharing options...
drwells Posted September 1, 2009 Report Share Posted September 1, 2009 Mish on Gold <------ snip below Good to see you back here TJ. Link to comment Share on other sites More sharing options...
mdporter Posted September 1, 2009 Report Share Posted September 1, 2009 TJ are you back from your hedge fund adventure? Link to comment Share on other sites More sharing options...
drwells Posted September 1, 2009 Report Share Posted September 1, 2009 The NAR should be arrested for lying to the public. That could be the new crime of the 21st century. Almost the entire media and government, plus the heads of major corporations, would all go to jail. Hell, you'd have to put the non-lying people IN jail and say that the outside is the prison now. Link to comment Share on other sites More sharing options...
Trader Joe Posted September 1, 2009 Report Share Posted September 1, 2009 TJ are you back from your hedge fund adventure? I have been allowed some freedom to post....which is nice.....plus, things are kind of slow here as most the top dogs are still away until after Labor Day.....so I am working on "strategies" and helping the back office get some crap straightened out before the fireworks start post Labor Day Link to comment Share on other sites More sharing options...
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