there really is no glory in breaking the back of the bears...if this is bear capitulation day, then monday is a selloff. if this is not bear capitulation day, then it will be because of price action suggesting an immenent reversal. we close triple red , imho. if not today, monday...this is what happens when you box your counterparty into a corner. healthy markets dont do this.
machine: Yours. EIther I have completely lost it or the rest of the world has. I see no point in continuing to muddle through, what I see as complete insanity.
""Pretty bubbleheads preen daily on our financial networks, playing the shill to Wall Street and Washington in order to lure unsuspecting Americans into buying insanely overvalued stocks. The great market exchanges, once prudent arenas of investment where the engine of capitalism traded value for value, have become sham casinos staggering under decades of massive Fed created debt and lurching into oblivion on the greater fool theory. Yet our high level bureaucrats, led by Alan Greenspan, exhort all Americans to consume still more of their seed corn and seek still more fools." N. Hultberg
lettuce c if the really big $ buys into this latest jam efFURt.
"The sphinx set riddles for people which they could not solve and the sphinx devoured them." Russian poet Ilia Ehrenberg reflecting years later upon the debacle of the Bolshevik Revolution and civil war
"In any case, experience shows people are unlikely to change their ways without a cataclysm of existential proportions" Meinhard Meigel, German economist and demography expert on his prophecy of a Wagnerian abyss of social and economic chaos
"We believe that here is no easy way out of this mess, and that the chance of a benign outcome, while hopefully possible, is quite low." Comstock Partners 3-17-2005
"Not without a shudder may the human hand reach into the mysterious urn of destiny." Junk email promoting the sale of Valium, Viagra, Soma and Cialis. Of course, we AMERICANS need not WORRY about such CLAPTRAP!!!
"The trouble about myths, or lies, is that those who foster them are stuck with them." Edward Crankshaw
"I don't buy the idea that a crash will come without warning. There are always warnings. All crashes have certain common technical preconditions." Doc (snorjt)
"YOU look IMPORTANT. Are you important, or just....WEIRD?" "Bob I am" at a political gathering, to HRFF, 9-29-04
"Are YOU C.I.A.???" "No, I'm not "CIA"." "Well, you sure LOOK LIKE you're C.I.A.!!!" Lead singer of the rock band KISS to HRFF at a luggage carousel at SeaTac airport circa 1996
"Unlike you, I use words people can understand." Doc
"America at the moment, with its faith-based currency, faith-based economy and faith-based government, might be a heaven for those who love faith, but it's a hell for those of us that respect evidence." The Daily (W?)Reckoning, circa 9-17-04
"What should be clear at this point is that even huge fiscal stimulus and unprecedented financial excess are incapable of fostering a sound and self-sustaining economic expansion. The paramount issue, today and going forward, is the deeply maladjusted U.S. economy and its increasing unresponsiveness to even enormous yet misdirected financial stimulus. Both the Financial Sphere and Economic Sphere are severely maladjusted." Doug Noland's Credit Bubble Bulletin, Aug 24 '04
"U.S. dollar purchasing power relies almost entirely on the difference between interest rates in Japan and the higher rates in the United States." Warren Pollock, Prudent Bear essay circa 9-04
"What about your replacements? the Children. What do we tell them when the whole thing caves in?" HyperTiger
MGS: Exactly more revenues and no increase in earnings! ANy frikking moron can increase revenues, where are the earnings?
They raised GM's- whether it will impact net profit, I don't know, but I definitely wouldn't view it as negative. It's probably a result of those back-to-school checks being spent on slutty clothing and computers. If you're bearish, GTFOOTW! (out of the way)
I'm not the least surprised by the good news blast. By late evening yesterday, I had the impression that the world was about to blow itself up and that the world's political leaders were losing control of situations in regional hot spots. The matrix is only doing its job of painting a rosy picture going into another shopping week-end. The media will take the non story and spin it into a hyper mania buying binge. Desperation.
I never comment on the Stoolwethers. Eleven days ago, On August 11, I said in the Anals, and posted loud headlines throughout the site, that the market was going up, and that the up phase was slated to last until late August, early September. If that wasn't a warning, I don't know what else I could have said.
Where are we now? Tell all our non-subsciber friends where they should look to find the answer.
Soup- Be the ball. Stop fighting it. All bad things must come to an end, and this will. Couple days, weeks maybe, but soon. Keep the faith,but go with the flow. Don't let the bastids grind you down.
Enough cliches for ya?
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Today may very well be ugly....LET'S BE CAREFUL NOT TO PISS EACH OTHER OFF.....
no kidding. I cant take another day of losses on the miners..no way Im giving up all those gains. Seems miners will get temporarily flushed why all the money floods into tech land(need to consolidate anyways) then the gaming the top will come after that which will start flying the miners around.....tough call, but Im getting out of half of all miners....holding odd on silvers....an going long tech......RHAT,LNUX for the msn virus play.....waiting for the opening wammy run around and things calm down to make entries....NTAP target now 26 for me by next week. BRCM, new highs,JNPR,SATC,CPN,WMB,QQQ,PLUG,FCEL,CHINA,ASIA,SINA,SOHU......the worm rally......