456 replies to this topic
Posted 14 November 2003 - 07:06 PM
Hey just like old times in here! Very satisfactory action in the US last night and I'm looking forward to Monday's open here....
Posted 14 November 2003 - 07:09 PM
Just had a nice lunch with Goldilocks and his quite attractive better half. They're out in Idaho for his brother's wedding. A fine fellow and undoubtably a bear. What a refreshing change. See Pee Brain, If you would have stopped you too could have had a free lunch. And they said it didn't exist.
Posted 14 November 2003 - 07:11 PM
I'm finding this simply amazing.
They can't even give it a rest.
No different than the "serial dater" engaged in constant self-promotion about his job prospects, the size of his manhood, and the year and model of his European sedan.
The Fed Bullhorn won't even rest AfterHours.
24/7 Non-Stop about the recovery, no inflation, low rates forever......
I suppose they will bullhorn all weekend as well, enough to have the futures ramped by 3:00am Monday in time for Scam Week.
Just a little forensic analysis......
PigMen Proprietary Trading Desk
The Weimar Run: Bullphoria!!!!
Posted 14 November 2003 - 07:14 PM
Fed speak about deflation only makes sense in terms of financial assets. Now there is some deflationary risk, if they know it or not. I'm sure they know if stocks, bonds and all flavors of financial exotica deflate than so will the 'recovery'. The weird thing now is that this might not bring CPI deflation.
It is impossible to determine someones motives but the motives of these Fed guys can only be pure if they are dumb as a sack of rocks stupid. This is a distinct possibility for some of them. All; not much chance.
Still hats of to Al for a successful funding. Hats off also to they buyers of 4.5% bonds with the PPI, briefly anyway, at 9.6%. I'd love to here what they are discounting.
War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
Posted 14 November 2003 - 07:18 PM
dude, you're on... id certainly travel to ID for a free lunch...
Iat least we're all safe for now. thank God we're in a bowling alley.
Posted 14 November 2003 - 07:22 PM
Plunger - The call was brilliant. That set my plan to thin the port today and stooltrading today was good and I got out of a number of longs early today - I was thinned out nicely by noon. Had loaded and piled on some shorts and finished a fabulous day. Your insight is appreciated. Thats several good calls lately. Closed most shorts out at the close too.
6 steady longs / 3 sparkling miners / 5 smelly shorts
chart tomorrow - going out tonight - chow
Posted 14 November 2003 - 07:23 PM
... meanwhile, the SEC accused former Gateway Chief Executive Jeffrey Weitzen, former Chief Financial Officer John J. Todd, and former Controller Robert D. Manza of fraud, lying to auditors and other securities-law violations.
Siebel Systems Inc. said the SEC staff has recommended enforcement actions against the company and two of its executives, for alleged violations of Regulation FD related to statements the officers were said to have made before and during an April 30 meeting with anal cysts.
Avici is the eleventh company overall to be investigated for dealings with Qwest. Others who have made similar disclosures include Redback Networks (NASDAQ: RBAKQ) and Tellium, Inc. (NASDAQ: TELM).
The whole system is rotten to the core.
Posted 14 November 2003 - 07:26 PM
Agree, this may have been the day. What was different? P/C around .60 ALL day.
Nobody believes a pullback is in the making.
K-Wave agree, next week may be do or die.
Does anyone know when the last time all 3 indices were down for the week? They were this week, and if it weren't for the druggies, the Dow would have been down 2% like the NAZ.
WMT, GE and AMAT are the economy, None faired well today.
Lastly, anyone notice that personal bankruptcies were up 7.3%?
$ falling, precious metals up, 12-16% correction sounds just about right.
Posted 14 November 2003 - 07:33 PM
Tanks Depends...I've just been lucky lately... and I know absolutely nothing.
LOU DOBBS IS A STOOLIE!!!
Just heard him connecting all of the dots on tonight's MoneyLine in an interview with the former Ambassador to France. Laid out the whole ugly mess for all the world to see. If you can find a transcript and post it...go for it. Hey Doc, call Lou's guest booking agent. You've got an appearance to make on Moneyline next week.
Foreign money and J6P money stops flowing in the markets direction on Monday.
Posted 14 November 2003 - 07:42 PM
Speaking of SMH, where's Thor been? He'd been following the SMH tick by tick on IDS during the stale days. Now it's getting some action, and he's disappeared by the Matrix?
"WE ARE BEING KEPT ALIVE by the Entropic movement of Dark Matter(Sino-Nippo-dollar purchasing of $UST)---as soon as there is a ringing sound,a sign of an clogged artriosclerotic wormhole on the emergency fiat-meter it will end--dynamic equilibrium,will have been achieved;better known as death" -- beardrech (Mar 15 2006, 01:17 AM)
"There's a good chance he was drunk or drugged. Only an idiot would jump into the bear cage." -- Belgrade Zoo Director Vuk Bojovic (August 20, 2007).
It's like you're dreamin' about Gorgonzola cheese when it's clearly Brie time, baby. -- Hitchhiker (S.A.M. 1998)
Mar 28 2003: July 2003 is the time I have identified as the low of the bear move...then the first leg of the bear is over ...many will be caught by surprise to see the market near it's all time high again within 3-4 years  ..."depression" similar to 1932 doesn't come until 2010. -- blackbelt (Mar 28 2003, 10:05 PM)
Posted 14 November 2003 - 07:43 PM
Just a little thot about all the lies being told at the moment!
What if the bond market isn't lying really and let's assume the CRB isn't lying at all.Seemingly incongruous?Nope!
IMO these are the indicators of STAGFLATION.
And you know what happens to the SM with stagflation-slump!
Rates go up when everyone want to borrow at once and corps want to borrow to make money on the borrowed money--not happnin'.
Corporates are borrowing to survive,hoping to ride this out.Excess capacity is overwhelming, so they're not borrowing to create "wealth",they're borrowing to survive and that is destroying wealth.
Breakout of the CRB is probably more a reflection of dollar weakness and better biz conditions in Asia and China(internally).
Posted 14 November 2003 - 07:50 PM
I caught Jim Glassman on Crap-Vision after the PPI this a.m.
The .8% PPI not a problem says Jim Glassman of J.P. Morgan
I find it highly amusing how, in bull phases, anal cysts create bullish dialogue-they are very creative!--in mkts truth is conditional--so the bull's dialogue is "right".
Jim said the PPI# is a seasonal abberation due to the car model changeovers-[i dunno what that means, either] This is a direct quote: "If you take out food, energy, & autos", the core was .2%" Jim sees very stable prices-not rising ones--and on the CPI-level he sees deflation-and best of all:
"The consumer is in GREAT shape."-says Jim-he expects a very good X-mas season
I would add, that if you worked for a firm that has a Gov. guaranteed franchise to milk the financial mkts and you make a one-2-4-14 million bucks a year...it's hard to see inflation.
Posted 14 November 2003 - 07:57 PM
I said last night that Gold was indicating the markets "had entered the gates of hell and tomorrow should be lights out"- a most interesting day, on that Boner opening blast there wasn't many Shorts in the market and those that were in covered quickly as we have ALL been conditioned to by this Pavlov rally. I see this happening and watch the rocket ride to the apex and started DROOLING as you could see the wipeout coming-no SHORTS-no fuel to keep going higher, I caught the exact top in the futures and rode it to the bottom-Wowza-(I hear Fokker also had a great day in futures.) So we had the throw over in the ending diagonal and came back down thru it-the rally is over! The Bulls (like the Ram who went over the cliff because he didn't see the Ewe turn) didn't even see the end coming. Now it's their time in the conditioning barrel they will come in on Monday and BUY the dips because it has worked so well for them in the past and THEY will get crushed. We have had wave one of wave 3 down the first of 5- the big one is 3 of 3 and it's just around the corner. In the trading room I use the Bulls were in schock and kept going back in and getting blown out-well most of the Bears missed a large part of the move down because they EXPECTED a bounce that never came. Now it's the Bulls turn to be returned to the days of yore when the markets evaporated before their eyes. Trade Safe!
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