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Broken Beer Steins Scatter Wall Street


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#391 Private Skidmark

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Posted 16 March 2008 - 11:27 PM

There goes gold again. :D

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The highest compliment you can pay a man today is that hes a fairly convincing approximation of a real person.

"You trade physical gold with balls, not with a ruler, until your balls get pressed into ball oil and you're forced to obtain your meals from the dumpster behind the local Krispy Kreme. And then the sun comes out again." - Skidmark

"If you can't stand the heat, break the thermometer in the kitchen." - Benjamin S. Bernanke upon ceasing publication of M3 data

#392 joe3pack

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Posted 16 March 2008 - 11:29 PM

http://biz.yahoo.com...ar_stearns.html

JPMorgan Chief Financial Officer Michael Cavanagh did not say what would happen to Bear Stearns' 14,000 employees worldwide or whether the 85-year-old Bear Stearns name would live on after surviving the Great Depression, two World Wars and a slew of recessions.

the article's math is so subprime--the last 85 years contained only one world war. . . . unless your calendar's based on derivative leverage.
Long UFB.

#393 dorfinator

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Posted 16 March 2008 - 11:30 PM

PEI bottom on 3/22 next week. If it is, I can't believe how accurate M. Armstrong was with his 1997 PEI calendar.

Why do they always wait for Sunday night?

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Wonder if the pastor/preacher/priest told them all to turn their blackberries off during services today?

Then again maybe the church leaders were all saying prayers and wondering if their money was safe?

#394 Private Skidmark

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Posted 16 March 2008 - 11:35 PM

By MOE CRAPO, AP Business Writer
7 minutes ago

NEW YORK - In a bid to shore up the confidence of foreign markets in the falling U.S. dollar, Fed Chairman Ben Bernanke announced late Sunday that the Fed had retained Zimbabwe Central Bank Chief Gideon Gono as a special consultant.

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The highest compliment you can pay a man today is that hes a fairly convincing approximation of a real person.

"You trade physical gold with balls, not with a ruler, until your balls get pressed into ball oil and you're forced to obtain your meals from the dumpster behind the local Krispy Kreme. And then the sun comes out again." - Skidmark

"If you can't stand the heat, break the thermometer in the kitchen." - Benjamin S. Bernanke upon ceasing publication of M3 data

#395 Private Skidmark

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Posted 16 March 2008 - 11:38 PM

Some days a guy is just better off never getting out of bed. :ph34r:

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The highest compliment you can pay a man today is that hes a fairly convincing approximation of a real person.

"You trade physical gold with balls, not with a ruler, until your balls get pressed into ball oil and you're forced to obtain your meals from the dumpster behind the local Krispy Kreme. And then the sun comes out again." - Skidmark

"If you can't stand the heat, break the thermometer in the kitchen." - Benjamin S. Bernanke upon ceasing publication of M3 data

#396 roxy

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Posted 16 March 2008 - 11:43 PM

It's just basic math. We've covered this before. See if you can run a search for "slippage" using Google in the left column

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Ok, now I'm looking at not-ultra ETFs:

http://finance.yahoo.....&c=RYAFX,^rut

Correct me if I'm wrong, but RWM from proshares seems to have no slippage at all (rydex has). I guess the evil is in 2x exposure.

#397 joe3pack

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Posted 16 March 2008 - 11:56 PM

BSC: "JPM, don't taze me, bro!"
Long UFB.

#398 cwd

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Posted 16 March 2008 - 11:59 PM

http://biz.yahoo.com...ar_stearns.html
the article's math is so subprime--the last 85 years contained only one world war. . . . unless your calendar's based on derivative leverage.

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What is a meaningless exageration from the Fraudsters? :lol:

#399 Drano

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Posted 16 March 2008 - 11:59 PM

Hang Seng down 996.

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Of course I'm caustic!

#400 Drano

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Posted 17 March 2008 - 12:00 AM

Is that a lot?

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Of course I'm caustic!

#401 Drano

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Posted 17 March 2008 - 12:01 AM

I miss LeeWhee. So unfair he's not here to see this.

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Of course I'm caustic!

#402 stevieo

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Posted 17 March 2008 - 12:06 AM

Ok, now I'm looking at not-ultra ETFs:

http://finance.yahoo.....&c=RYAFX,^rut

Correct me if I'm wrong, but RWM from proshares seems to have no slippage at all (rydex has). I guess the evil is in 2x exposure.

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I have a different idea about how these work. I spent a couple of years in bearx. Whenever the market turned back up, bearx was about 2% lower than it should have been, but it corrected over a few days. With these ETFs, it shows up as the premium or discount in the ETF itself. I haven't run any numbers on these etfs, but from a little bit of trading qid and qqqq over the last 3 months, it seems the same. At the time, I thought it had to do with the price of options. Today I'm not so sure. Problem is, you're going to want to get out just after the turn, which is exactly when it goes against you. I just don't let it bother me. 1 or 2% won't make or break my strategy, and, anyway, I rarely get out early enough for this to hurt too bad.

Compare the nasdaq vs qid for 5 days and 3 months and see how it tracks well when the trend holds, but breaks off trend on a turnaround.

I have not looked at this thing too closely over a lot of turnarounds, but the math I've done over a couple of trades since the January bottom don't show a big slippage problem. A bigger problem is the 50 cents I lose fumbling around logging into my broker.

#403 Jimi

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Posted 17 March 2008 - 12:08 AM

Asia paring losses in the afternoon.
Sure glad all my albums went GOLD.
"Ferdy-bee-bee-dee-ferbs."
Subscribe & Earn Karma Miles with Every Visit!
Rule #5 Professional Exemption.
Blind Follower, Just Think Positive Hyperinflation, I Get Paid 500 Quadrillion Dollars/Hour at 1000% Interest/Hour Compounding Forever Each Mouse Click Religion.
"I too observe 'flation.'"
I love you, TASR!
YOU MAKE KITTY SCARED
Tops Take Time
Postulate A Free Lunch Economy
Anyone, now, who is not genuinely afraid is a moran.
[T]housands of empty stucco crapboxes vacated after being circle-jerk sham-traded among corrupt borkers, uppraisers and loan officers from 100K up to 800K, then "nopay-walkaway" (with dirty loan cash in pockets)
Guess again, girlfriend.
Or, $2.7 million every effing day since the effing pinball machine.
Permabear Hysterian

#404 ChicagoBear

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Posted 17 March 2008 - 12:12 AM

http://beprepared.com/
Bought from them - good people

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Are you stocking up on food? Just curious.
Depending on what you're doing, I know a few sites. :ph34r:


My wife went to a church sponsored financial planning seminar. 

She wants to know why I won't diversify out of my precious metal stocks.

What should I tell her?  <_<  <_<

:ph34r:  ;)

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To keep my wife at bay, I told her she can buy as much gold jewlery as she wants. That made her happy, and she's helping us invest. :D
If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09

#405 ChicagoBear

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Posted 17 March 2008 - 12:14 AM

Is 400 posts over a weekend a record?
If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09





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