Crapper John Posted April 2, 2003 Report Share Posted April 2, 2003 Doc summarized it well this morning, and I'll waste my breath merely to repeat the facts. Intervention exists as a matter of law in the United States. The BOJ and Federal Reserve noted in a press release two weeks ago that they had struck a deal to support the markets. Federal Reserve open market operations are published daily. The "PPT" was legislated into being by the Reagan Administration. Nice restatement GF, but I must have missed something. What does PPT stand for? Link to comment Share on other sites More sharing options...
Sphinxter Posted April 2, 2003 Report Share Posted April 2, 2003 After that.... I will go from there.... but I believe 5 major waves begin down.... and Bradley model is inverted. I like the sound of that! On other matters, we know the PPT is real - as per Doc's writings on the matter - the existence is real. Further a recent agreement between the BoJ and the FED printed in newspapers across the world in March is a matter of record. The following quote from the FT shows some of the extent to which the BoJ has gone to prop the Yen recently. BoJ doubles size of yen intervention in March By Jennifer Hughes in London Published: March 31 2003 12:28 | Last Updated: March 31 2003 12:28 The Bank of Japan stepped up its efforts to prevent the yen strengthening in March, according to official data that confirmed traders' suspicions that the authorities had covertly intervened in the market for a third successive month. The BoJ said on Monday it spent a total of Y1,131bn ($9.5bn) in March through its foreign exchange account, which generally indicates foreign exchange intervention. In January and February, the bank spent Y678bn and Y513bn respectively. For fun, let's note that the Yen ended 2002 at 118.6/$ and that's right where it is today. That means $20B of propping for zero effect. HeeHee. Even my portfolio is doing better than that! But let's be sure to differentiate between the PPT market interventions and the program robots. Different beasts. The PPT feeds the markets with tight little batches of Futures buying that induce predictable results in the program robots. You say TA has a place in that world? I salute your dilligence and bravery. Me? I am cashed out because this is a game I can't play. I only have 7.5 hours out of very work day to keep 1/2 an eye on the market and that's just not enough. This market is being jammed and fed to serve political masters and I just can't be bothered. It's trading down a rabbit hole. I will note that when volatility increases, as it has been over the past few years, the chances of a car-wreck go up substantially. You can only swerve side-to-side so long before a tie-rod snaps and you careen off the road. Link to comment Share on other sites More sharing options...
machinehead Posted April 2, 2003 Report Share Posted April 2, 2003 Jimi, you wrote a song 'bout dat Uncle Al. One of my faves: ASTRO MAN Here I come to save the day A little boy inside a dream just the other day His mind fell out of his face and the wind blew it away A hand came out from heaven and pinned a badge on his chest It said 'Get out there, man, and do your best' They call him Astro Man And he's flyin' higher than That faggot Superman ever could Oh, they call him Cosmic Nut And he's twice as dense as Donald Duck And he'll try his best to screw you up The rest of your mind Oh, look out! My guitars Astro Man, flyin' across the sky two times higher than that old faggot Superman ever, ever could Ever could There he goes, there he goes Where he stops, no one knows There he goes, there he goes He's tryin' to, tryin' to blow out the rest of your mind He's gonna blow out the rest of your mind Talkin' about lookin' for peace of mind Astro Man will leave it in pieces Have you put our trouble behind him Make you fly around in pieces Yeah, blow out the rest of your mind Astro Man will blow out the rest of your mind He's gonna blow out the rest of your mind Link to comment Share on other sites More sharing options...
richmtn Posted April 2, 2003 Report Share Posted April 2, 2003 All you folks too young to know this is just a small idea of what the late 1960's and early 1970's were really like. Now we'll just mix in a little 1930's and see what we have. It's gonna be ugly. Link to comment Share on other sites More sharing options...
BartTheBear Posted April 2, 2003 Report Share Posted April 2, 2003 All you folks too young to know this is just a small idea of what the late 1960's and early 1970's were really like. Now we'll just mix in a little 1930's and see what we have. It's gonna be ugly. Didn't the market rally during the Tet Offensive? :grin: Link to comment Share on other sites More sharing options...
Guest The CoinGuy Posted April 2, 2003 Report Share Posted April 2, 2003 SG, Right or wrong in the end, you've explained your position here, and I want you to know I appreciate it. TCG Fellow Stoolies, It seems as though the board is reflecting what is going on in my own mind. The Bear and the Bull are in a 15 rounder, and nobody's winning. Therefore, thanks to our good buddy Piles, I came out a winner today, meaning I didn't lose a bunch...I'm straddling this bitch(Bear or Bull) until I can see through this fog more than 3 feet. Dipped into the miners yet again. Although my steps are rather light, until I see what happens in the next couple of days. I did like the action though, and lean towards throwing some gold bull horns on again. Glad I bought the kind with the easy release strap... The CoinGuy NOTE: Although I am a long-term goldbull, and hold positions for a long-term bull market, I also trade this pig, and my opinions construing short-term discomfort in this market, are just that, short term discomfort. I believe this market to be in a Secular Bull move, and comments to the contrary should be understood as comments on the shorter-term(trading) picture unless otherwise noted . Link to comment Share on other sites More sharing options...
Farmer Posted April 2, 2003 Report Share Posted April 2, 2003 SG thanks, I for one would like to say keep up the good work. I don't know why you keep helping. I would have taken offense and left long ago. You though keep trying to help where and when you can. Like Doc and Oyster and others you put it out there for all to see. When I grow up I wannabe just like you guys. Since I.m almost 59 now I guess I should get to that one of these days soon. Farmer Link to comment Share on other sites More sharing options...
sweefraapp Posted April 2, 2003 Report Share Posted April 2, 2003 ndx 38.2%/61.8% Link to comment Share on other sites More sharing options...
Crapper John Posted April 2, 2003 Report Share Posted April 2, 2003 Is this the PPT? short animation (Karma Ghost) http://billyblob.com/animation_f/karma.html Link to comment Share on other sites More sharing options...
BartTheBear Posted April 2, 2003 Report Share Posted April 2, 2003 ndx 38.2%/61.8% Nifty 2-day island gap. Link to comment Share on other sites More sharing options...
Guest bullseatshitndie Posted April 2, 2003 Report Share Posted April 2, 2003 Markets are manipulated and that's a fact DATE: 03-18-88 31 -- Money and Finance Working Group on Financial Markets By virtue of the authority vested in me as President by the Constitution and laws of the United States of America, and in order to establish a Working Group on Financial Markets, it is hereby ordered as follows: Section 1. Establishment. (a) There is hereby established a Working Group on Financial Markets (Working Group). The Working Group shall be composed of: (1) the Secretary of the Treasury, or his designee; (2) the Chairman of the Board of Governors of the Federal Reserve System, or his designee; (3) the Chairman of the Securities and Exchange Commission, or his designee; and (4) the Chairman of the Commodity Futures Trading Commission, or her designee. ( The Secretary of the Treasury, or his designee, shall be the Chairman of the Working Group. Sec. 2. Purposes and Functions. (a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider: (1) the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and (2) the actions, including governmental actions under existing laws and regulations (such as policy coordination and contingency planning), that are appropriate to carry out these recommendations. ( The Working Group shall consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible. © The Working Group shall report to the President initially within 60 days (and periodically thereafter) on its progress and, if appropriate, its views on any recommended legislative changes. Sec. 3. Administration. (a) The heads of Executive departments, agencies, and independent instrumentalities shall, to the extent permitted by law, provide the Working Group such information as it may require for the purpose of carrying out this Order. ( Members of the Working Group shall serve without additional compensation for their work on the Working Group. © To the extent permitted by law and subject to the availability of funds therefor, the Department of the Treasury shall provide the Working Group with such administrative and support services as may be necessary for the performance of its functions. The provisions of Executive Order 12631 of Mar. 18, 1988, appear at 53 FR 9421, 3 CFR, 1988 Comp., p. 559, unless otherwise noted. Link to comment Share on other sites More sharing options...
flockofsheeples Posted April 2, 2003 Report Share Posted April 2, 2003 from hochberg As noted in this month's issue of The Elliott Wave Financial Forecast, there is a possible time objective for a high of April 11-16. This period includes a Fibonacci 987 days from the July 30, 2000 low (S&P), a Fibonacci 233 days from the August 22, 2002 high, a Fibonacci 89 days from the January 13 high, a Fibonacci 34 days from the March 12 low and the time when wave two up would be 38.2% of wave one down, as measured in trading days. Ancillary measures conveniently line up too, as April 11 is a Bradley Model turn and April 16 is a full moon. So ideally the rally has another week-and-a-half left, though as noted, any push above the wave "A" high will have us on alert for a turn. http://www.elliotwave.com/subscribers/default.aspx Link to comment Share on other sites More sharing options...
Hypertiger Posted April 2, 2003 Report Share Posted April 2, 2003 It's just a milking operation right now once the smoke and mirrors marketing is removed all you are left with is "just send us your money or you'll be sorry" the bear market is still based on selling strength and buying weakness... 11-15 months are all that is left of the good old days, max and it could end far sooner... There is no escape and no recovery...The clock is ticking there will come a point when reality shows up and then the people will be screaming why why why? and then the blade on the Guillotine will drop, next... Link to comment Share on other sites More sharing options...
Bird D Durr Posted April 2, 2003 Report Share Posted April 2, 2003 The BirdMan has been feathered............................ You name it...............I got/getting screwed on it............... AMGN, AMZN, JPM (got to pay the dividend as well).................... Yuk.....................maybe I should go back to day-trading................ These overnight fiascos......................really add up! Back to the Nest................ Link to comment Share on other sites More sharing options...
Bird D Durr Posted April 2, 2003 Report Share Posted April 2, 2003 It's just a milking operation right now once the smoke and mirrors marketing is removed all you are left with is "just send us your money or you'll be sorry" the bear market is still based on selling strength and buying weakness... 11-15 months are all that is left of the good old days, max and it could end far sooner... There is no escape and no recovery...The clock is ticking there will come a point when reality shows up and then the people will be screaming why why why? and then the blade on the Guillotine will drop, next... Hyper.............. You always bring me up when I'm down............... Thank You for being You! Link to comment Share on other sites More sharing options...
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