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B4 The Bell, Frieday June 4


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#16 Sudaca

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Posted 04 June 2004 - 08:42 AM

Woops.... "Der go da fu-chas"

All is good.....

Seriously, until we break up or down 3-4%, we're still stuck between heaven and hell.

In hindsight, yesterday's close below the 5 day trading range with all that put buying was just another short term bear trap. No bull yet, either, as we would have to break above the range.

Just another day in Paradise. :blink: :blink: :blink:
Thanks, David

#17 Isle of View

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Posted 04 June 2004 - 08:45 AM

http://www.alternet....l?StoryID=18856

The Middle-Class Squeeze
By Andrea Batista Schlesinger, AlterNet
June 3, 2004

* More than 92% of the 1.6 million Americans who filed for bankruptcy in 2003 were middle class.

* More than 40 percent of the 2.4 million newly uninsured Americans were in the middle class.

They are worried about their retirements. Even the cost of heating their homes went up 25-40% in 2003. For all of this, they got an average tax cut of $800.

While their financial health has changed over the last thirty years, the other expectations of the middle class, such as a college education, holding a good job, owning a home, have remained the same. As a result, families that find themselves making choices between the gas bill and mortgage payments still consider themselves middle class in fact, much of America does.

This contradiction between the 'middle class state of mind' and the financial realities of a middle class life illustrates a failure of the American dream. And if the dream fails the middle class, it fails those who aspire to work their way up.

Orignally posted by EIR on M2M (I think):

Nerves of Steel

"The steelworkers' plight is to be examined under a broader perspective: the overall decline of the average American's purchasing power. To keep the standard of living they enjoyed 30 years ago, Americans now have to work seven extra weeks a year. People in Japan, France or Scandinavia work much less, while Americans - especially married and with kids less than 18 years old - have to work much more: at least 51 hours a week. Virtually half of the wage-earning population needs to do that to make ends meet at the end of the month."

I recall reading somewhere that half the current US jobs labelled as manufacturing are in housing construction. :blink:

#18

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Posted 04 June 2004 - 08:46 AM

The government will probably pump a very hefty dose of imaginary jobs into tomorrow's Labor report and the result could be unsettling for the financial markets.

When the government announced that 288,000 jobs were created this past April, for instance, that figure included a whopping 270,000 jobs that the Labor Department estimated but couldn't prove had been created by new companies.

http://www.nypost.co...iness/22197.htm

nice to see a reporter totally gets it.

that is a very good article.

#19

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Posted 04 June 2004 - 08:48 AM

Kudlow may be right ..just d thought of his smug smile ...aaaaarrrgh..In any case I still see 1100-1107 before we rally.

REPOST form last 2 days
=================

We are in the Zone for the ST Full Moon Top I am expecting, however based on the past year it seems we accelerate into the Full Moon with a marginal peak 1-2 days after... on average.

I will probably close my longs if we reach the 1133 region as I am expecting 1-2 day pull back or even mini-plunge into the 11week cycle low which should still be a higher high over 1105.

Either way I will start to accumulate Longs[probably leveraged] on or after June 8th when the Venus/Sun disaster thing has peaked and I can be somewhat sure the 55day cycle low has gone too.

we'll c how it goes


Followup:
----------

More or less the same except that Curry yesterday said that the 55 day cycle low has already passed and instead we go down into the 10/28day cycle low

#20 Sudaca

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Posted 04 June 2004 - 08:54 AM

As much as i hate Kudlow's guts, in all honesty, I see no reason to not factor in the possibility of a significant move higher. I'm not saying it will happen, as nobody knows for sure. But there is enough technical evidence to support the possibility and not be surprised by such an outcome.

Doc's Anals highlight the situation very nicely, IMO.... there are good arguments for each side, and there is no conclusive evidence as of yet.... but we're getting there pretty quickly, I believe.
Thanks, David

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Posted 04 June 2004 - 08:56 AM

Isle of view:

If in fact 1/2 of the manufacturing jobs numbers are in home construction (this sounds logical), and the bond market blows up - they will simply "change the rules" about how jobs numbers are calculated:


"It now appears that it would be inappropriate to include the construction of housing in the manufacturing jobs data, as these data have traditionally been a measure of factory workers."


They'll just hit the reset button and calculate jobs in whatever way suits their story, as actual unemployment skyrockets. If, as it appears, mortgage rate increases will serve to choke off the housing boom, California will have the highest (actual) unemployment rate in the country.

#22 trinharder

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Posted 04 June 2004 - 08:59 AM

While going thru my bookmarks looking for something, I came accross this one and couldn't resist posting it.

http://dancingbush.com/

#23

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Posted 04 June 2004 - 09:02 AM

Intervention alert:

The Ten Year Yield initially spiked higher on the jobs data...now down .20

Goldilocks lives? We shall see.

#24 Drano

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Posted 04 June 2004 - 09:08 AM

Interesting thread last night.  Too small of a hole in the Pentagon.  Got that right, one about the size of Delaware would have been better.  :lol:  But if flight 77 didn't hit the Pentagon, where is it and the people who were onboard?

Thanks Yobob, for asking the question.
My next door neighbor and her three daughters would like to know as well. Her husband was on that flight.

I'm going to say this again.

A highly intelligent woman who I absolutely trust happened to be gazing out of her window in an office building which was directly across the river from the Pentagon. She saw Flight 77 hit. She knows the diffenence between a large passenger jet and a smaller plane.

I'll say it again. An eye-witness with no vested interest, who is a personal friend of mine, and who I trust, saw a large passenger airplane hit the Pentagon. It was not a smaller plane. It was not a fighter plane.
Of course I'm caustic!

#25 Isle of View

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Posted 04 June 2004 - 09:23 AM

Interesting thread last night. Too small of a hole in the Pentagon. Got that right, one about the size of Delaware would have been better. :lol: But if flight 77 didn't hit the Pentagon, where is it and the people who were onboard?

Thanks Yobob, for asking the question.
My next door neighbor and her three daughters would like to know as well. Her husband was on that flight.

I'm going to say this again.

A highly intelligent woman who I absolutely trust happened to be gazing out of her window in an office building which was directly across the river from the Pentagon. She saw Flight 77 hit. She knows the diffenence between a large passenger jet and a smaller plane.

I'll say it again. An eye-witness with no vested interest, who is a personal friend of mine, and who I trust, saw a large passenger airplane hit the Pentagon. It was not a smaller plane. It was not a fighter plane.

I agree with you.

"Sometimes a cigar is just a cigar"

However no self-respecting conspiracy theorist will let something as trivial as incovenient facts and reality get in the way of their particular conspiracy theory.

#26 BAREister

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Posted 04 June 2004 - 09:23 AM

Interesting thread last night. Too small of a hole in the Pentagon. Got that right, one about the size of Delaware would have been better. :lol: But if flight 77 didn't hit the Pentagon, where is it and the people who were onboard?

Best conspiracy theory HRFF has read on the www re this anomaly (where was the luggage, where were the bodies, etc., too?) is IF he recalls rightly: on that plane that got shot down outside Pittsburgh. 77 was diverted, it's passengers unloaded onto the doomed Pittsburgh plane, and VIOLA!!!
Same? source said witnesses said aircraft slamming into Pentagon was a jet fighter that came in low.
But those must have been some of the same HUNDREDS of witnesses on Long Island who,allegedly, saw two streaks come from the ocean's surface before that TWA flight exploded from a "fuel tank". We all know how much attention was paid to THEM, DON'T we, Pierre Salinger?

HRFF notes, with some disquiet, that Mr Kerry is not talking about pulling out of Iraq, is speaking repeatedly of the threat of bio and nuclear terror attacks on our shores. Little will change if, or, rather when, he is elected.

He also wonders if that "flash" in Seattle was, in fact, a meteor, and not some S C A L A R experiment.

#27 The End

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Posted 04 June 2004 - 09:25 AM

OK. Drano.
NONE of what I type, should be taken as financial advice.

And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.


--Waters

#28 soup

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Posted 04 June 2004 - 09:25 AM

Think Fido, goldie et al. From Galbriaths book on 1929 "The nature of these operations varied somewhat but, in a typical operation, a number of traders pooled their resources to boom a particular stock. They appointed a pool manager, promised not to double-cross each other by private operations, and the pool manager then took a position in the stock which might also include shares contributed by the participants. This buying would increase prices and attract the interest of people watching the tape across the country. The interest of the latter would then be further stimulated by active selling and buying, all of which gave the impression that something was afloat. Tipsheets and market commentators would tell of exciting developments in the offing. If all went well, the public would come in to buy, and prices would rise on their own. The pool manager would then sell out, pay himself a percentage of the profits, and divide the rest with his investors.

While it lasted, there was never a more agreeable way of making money. The public at large sensed the attractiveness of these operations, and as the summer passed it came to be supposed that Wall Street was concerned with little else. This was an exaggeration, but it did not discourage public activity in the market. People did not believe they were being shorn. Nor were they. Both they and the pool operators were making money, only, that the latter were making more...
""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

#29

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Posted 04 June 2004 - 09:27 AM

Isle of view:

If in fact 1/2 of the manufacturing jobs numbers are in home construction (this sounds logical), and the bond market blows up - they will simply "change the rules" about how jobs numbers are calculated:


"It now appears that it would be inappropriate to include the construction of housing in the manufacturing jobs data, as these data have traditionally been a measure of factory workers."


They'll just hit the reset button and calculate jobs in whatever way suits their story, as actual unemployment skyrockets. If, as it appears, mortgage rate increases will serve to choke off the housing boom, California will have the highest (actual) unemployment rate in the country.

Hell, the gubbmit has changed the rules for the past 35 years. Is there anyone
who expects anything different from scumbag politicians? Their behavior
is that of convicts.....no different. :angry:

#30

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Posted 04 June 2004 - 09:28 AM

Whats all the hoopla over the May jobs report?

This is the Fed's second paragraph in the report.

The number of unemployed persons was essentially unchanged at 8.2 million in May, and the unemployment rate held at 5.6 percent. The unemployment rate has been either 5.6 or 5.7 percent in each month since December 2003. The unemployment rates for the major worker groups--adult men (5.2 percent), adult women (4.8 percent), teenagers (17.2 percent), whites (5.0 percent), blacks (9.9 percent), and Hispanics or Latinos (7.0 percent)--were little changed in May.

http://stats.bls.gov.../empsit.nr0.htm

Nothing has improved in 6 months. Big freaking deal!





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