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Weak-end thread June 10-13th.


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#376 The End

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Posted 14 June 2004 - 12:23 AM

PAL has something to say chart wise.

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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

#377 Butterfield 8

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Posted 14 June 2004 - 12:36 AM

Brian - I tried a year ago - with CAD banks with branches in US - they told me I cannot have an account in Canadian dollars and cannot use CAD branches. Has there been a law change?

PB - I have an account in Denmark since I am not rich enough for a Swiss account. Austria also and they store gold.

Everbank has high commission on exchanges, but good interest rates - better thaN Europe on midlevel deposits.

#378 longOnUranus

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Posted 14 June 2004 - 03:08 AM

working late...replaying Roger Arnold in the background...ugh

He thinks Greenspan has defeated the economic cycle (successfully) and we are on the verge of a new "Prosperity" cycle. Very cautious.

either that, or it will all unwind (he says)...

the only reason I listen to these guys anymore is that when everyone gets bullish, we usually drop...futures bearing this out (EU is DEAD!!! and dollar rules...see some hedgie wedgies soon)

listening for prognostications on a non-contrarian fashion has become totally worthless, especially "well, i was wrong" type stuff...

nothing wrong with being wrong, but there is then something wrong with the attitude one presents when one is so sure one's right...

#379 beardrech

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Posted 14 June 2004 - 03:32 AM

Has anybody read nything further on the Pru Bear post about the brewing Parmalat scandal about to go Vesuvian with Citicorp,JPM and BAC being spewed out of the mouth??

Is this fact or fiction?
beardrech :ph34r: :cry:Parmalot---Unfairly accused for drowning in the milk of human kindness

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Posted 14 June 2004 - 03:53 AM

Some writer for my forex dealer's news feed stole a line from Maria FartAroma!! That is, the feed reported that the Nick-Me was down a little today because of, get this, some light profit-taking. Now that must be a copyright infringement!! :grin:

Speaking of "some light profit-taking," the futures continue in a spank-down. No 3:00 a.m. Bone Jam to the rescue today. Maybe a pre-open Stick-Save Jam? No sign of it so far ....

#381 Hypertiger

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Posted 14 June 2004 - 05:02 AM

Has anybody read nything further on the Pru Bear post about the brewing Parmalat scandal about to go Vesuvian with Citicorp,JPM and BAC being spewed out of the mouth??

Is this fact or fiction?
beardrech :ph34r: :cry:Parmalot---Unfairly accused for drowning in the milk of human kindness

Don't know if the dirty laundry will show up mainstream but it is far worse...the whole system is just a giant paper ponzi...the weak are the first to go...in a full blown crisis all the rest of the paper ponzi accounting tricks masquerading as profitable businesses will cave in...

What we have seen up to this point is just an ice cube at the tip of the Iceburg...
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...

#382 traderfromhell

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Posted 14 June 2004 - 05:21 AM

I was too young to be paying much attention at the time, but wasn't there a political scandal at one time regarding the US interferring in the Australian policial process? Anyone remember the details?

"Mr Bush and Secretary of State Colin Powell said it would be disastrous if Australia pulled out, while Mr Powell's deputy Richard Armitage suggested the US-Australia alliance could be threatened under a Labor government."

"But Dr Lawrence said it was unseemly for US officials to become involved in Australian politics."

"Australians are a proud people and don't much like being told how to conduct themselves by other governments," Dr Lawrence said."

Bush trying to re-elect Howard: ALP

"Australia's opposition Labor Party has backed away from its promise to withdraw the country's troops from Iraq by Christmas if it wins the next election. The party has been stung by criticism from President Bush and U.S. Secretary of State Colin Powell. Australia's Labor opposition has been forced to clarify its Iraq policy after two weeks of sustained pressure from the White House. It all began earlier this month when President Bush said that an Australian pullout from Iraq would be "disastrous."

Australian Opposition Backs off Pledge to Remove Troops from Iraq

Whilst I was 100% against Howard's decision to enter the Iraq conflict, I could not support Labor's stance with regard to withdrawing troops by Christmas. Australia has made the commitment and now must stand by it or be regarded globally as an unreliable lightweight in international affairs. We have a moral obligation to see it through as much as I hate the whole sorry mess.

Howard has made a public announcement denouncing the prisoner abuse in Iraq which "is not to be tolerated even if the victims are known terrorists planning their next attack". (my paraphrasing). This wouldn't have won him any brownie points with Bush for sure.

This news item also a worry:

Queensland, NT Likely Sites For US Military Base: Aust Minister

CANBERRA, June 7 Asia in Focus - A major US military base looks likely to be established in either Queensland or the Northern Territory. Defence Minister Robert Hill, in Singapore for meetings with regional defence ministers and US Defence Secretary Donald Rumsfeld, indicated that an in principle agreement could be signed next month in Washington.

Sometimes if you realize you've made a mistake it's best not to see it through. I'm an American and I would not regard Australia as less of an ally if they pulled up their tents and went home. This stay the course bullshit the Jumper is goona get all our asses in ddep $hit. We see it through the Muslims see it through and pretty soon we're all through. I say nothing can be as bad as our current regime vote these thugs out and repeal the Patriot Act NOW. Enuf of all this crap.
Don't steal. The government hates competition.

#383 traderfromhell

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Posted 14 June 2004 - 05:26 AM

but with Bush at the helm any wise person would question the status Quo-Huh!

Absolutely! He's a loose cannon.....

The Canadians should question the status quo regardless of who the President of the US is. Last time I looked Canada wasn't the 51st state. It's a sovereign nation and unless invited the US has no right to be there.
Don't steal. The government hates competition.

#384 traderfromhell

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Posted 14 June 2004 - 05:32 AM

Has anybody read nything further on the Pru Bear post about the brewing Parmalat scandal about to go Vesuvian with Citicorp,JPM and BAC being spewed out of the mouth??

Is this fact or fiction?
beardrech :ph34r: :cry:Parmalot---Unfairly accused for drowning in the milk of human kindness

The Parmalat situation is a strange one to say the least. I supply a dairy in Wallington New Jersey that Parmalat bought a few years back which was Farmland Dairies. I got beat for a couple of invoices pre July 2003 but they are paying everything after that. In a normal bankruptcy proceeding it's a close the doors see ya thing or they pay as they go under a 3rd party. This is a strange one indeed.
Don't steal. The government hates competition.

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Posted 14 June 2004 - 05:35 AM

bullsdemkilla
Posted: Jun 10 2004, 02:59 PM

Expect the market to Top in the A.M. on Monday and close down !

Lows Friday at 9:30am


Bulls posted that on the Thursday thread. I agree Monday and maybe Tuesday are probably down in a test of the 50-day MA.

But this freakin' chart says the bulls are in command next week. Almost a shoe-in that the June 17-22 Bradley turn will be a top...

With the futures situation...it looks similar to May 17th and I do not think we gap down n GO lower all day..looks like we ST topped on June 11th and from their I think we go sideways into Friday Opex..with a low today.. a higher low on Tuesday...a rally on wednesday and a huge retrace down on Thursday...with a 100% retrace of Thurdays decline on Friday

I suspect the real rally starts next week after Opex into July 9th-12th

we will c

#386 traderfromhell

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Posted 14 June 2004 - 05:45 AM

Has anybody read nything further on the Pru Bear post about the brewing Parmalat scandal about to go Vesuvian with Citicorp,JPM and BAC being spewed out of the mouth??

Is this fact or fiction?
beardrech  :ph34r:  :cry:Parmalot---Unfairly accused for drowning in the milk of human kindness

Don't know if the dirty laundry will show up mainstream but it is far worse...the whole system is just a giant paper ponzi...the weak are the first to go...in a full blown crisis all the rest of the paper ponzi accounting tricks masquerading as profitable businesses will cave in...

What we have seen up to this point is just an ice cube at the tip of the Iceburg...

I can't speak for the whole of Parmalat but the division of the company I supply is a very profitable business. There is a big difference between an unprofitable entity and someone with their hands in the till.
I don't know the exact figures but I thought the Mom and Pops composed the majority of business in the US. When the biz becomes unprofitable they just shut the doors. While there are tons of bankruptcies on a daily basis there are also many who survive and profit. If you know what the hell you're doing out there you can still make money in this econony.
Don't steal. The government hates competition.

#387 The brown one

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Posted 14 June 2004 - 07:11 AM

"Australia's opposition Labor Party has backed away from its promise to withdraw the country's troops from Iraq by Christmas if it wins the next election. The party has been stung by criticism from President Bush and U.S. Secretary of State Colin Powell. Australia's Labor opposition has been forced to clarify its Iraq policy after two weeks of sustained pressure from the White House. It all began earlier this month when President Bush said that an Australian pullout from Iraq would be "disastrous."

They could always opt for the Bush solution and promise everything now.And if they win the election,then they just say "Sorry, we had our fingers crossed when we made those promises so they weren't promises at all"





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