The Great Spectacle
127 replies to this topic
Posted 28 January 2003 - 09:41 PM
*yawn* We're going through the 'inevitable boring bounce after major downside' syndrome today. I closed out an AXA put yesterday arvo for a scungy 29% profit but I think the $ can be better used elsewhere. Yeah I like the look of those bearish pennants B4...Ed saying same pattern on OEX and NAZ.. http://www.signalwat...markets_dow.asp for those who don't have the DOW 15 & 60 min charts.
Looks like a rounding top forming on All Ords index intraday so the action will be slow....I'm off for a couple of hrs at the gym, more of a payoff pumping iron than watching punters throw their money away ..
Posted 28 January 2003 - 09:43 PM
Pile, Is there anything on the mr market graph
that says up to you? I was early (again) but that
has made my position stronger now.
Posted 28 January 2003 - 09:56 PM
I've been shorting and holding, via leap puts, for the last two years and have been reading this board for a while now.
Mark's perceptive and entertaining writing is mandatory reading for me every evening.
It's interesting to have a ringside seat to this once-in-a-lifetime event.
I only know how to short based on the funny-mentals, however
The Nikkei's not feeling okay.
It usually tracks any WS bear rallies, so I'm surprised that it's going its own way.
Posted 28 January 2003 - 09:58 PM
My AGF Managed Futures fund is now up 20% in the week and a half since I bought it.
Off to watch the Shrub.
...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech
Posted 28 January 2003 - 10:17 PM
Not covering until
A. stopped out or
B. VV MTI/BSR/RT in the sewer like last July/Oct.
Nasty $8 under fair right now.
Posted 28 January 2003 - 10:17 PM
Just listened to Doug Noland on financialsense.
Well worth the listen.
For anyone who hasn't got the time, this
is my paraphrasing:
"Structured Finance has created a parrallel
financial system that is unstable, unsustainable,
unregulated, and rests on the shoulders of a select few
financial guarantee companies domiciled
in the Caymans and Bermuda.
This burgeoning system has fueled the greatest
consumption boom of all time - as Americans embraced
the concept of 5% down on a new home,
zero rate finance and buy now PRAY later.
The trillions of debt having fueled
non-productive investment, that makes the over-investment
in Telecom seem like a walk in the park.
We have morphed from a society of dotcommers into a society
of property speculators, mortgage originators
real estate agents and homebuilders. And if we are not engaged
in these activities we are engaged in paperpushing
in the house of cards.
With money spewing from the presses, and 3 years of share losses
behind us, we are feeling like the worst is behind us.
But ever so quietly the smarter institutional money is creeping out
the back door and the dollar is creaking and gold is ALIVE.
None of us have ever been to Argentina, we hear that the women are
beautiful, and the men love their soceer but we aren't so sure
if it's safe to visit.
Well it appears that we may all get to see Argentina."
Posted 28 January 2003 - 10:21 PM
Let's just say I used to perform live acts in front of paying audiences.
BTW, If you dig George Kaufman, I suggest Once In A Lifetime a really funny play about Hollywood in the '30''s that is also full of biting social satire. The 1932 film version with Jack Oakie and Russell Hopton is pretty good. Not, of course, as good as the play. If you want to remove the biting social satire and see the musical version, chances are you already have, it's Singing In The Rain with Gene Kelley, Donald O'Connor and Debbie Reynolds.
Posted 28 January 2003 - 10:23 PM
Shrub mentioned freeing up SS to be invested in the market.
Maybe Prechter is right this time.
That is the dumbest idea put before this gov't in many years.
Back to the speech.
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.
Posted 28 January 2003 - 10:24 PM
Did you notice during the state of the onion that when Shrub said, "Congress should reduce taxes", "shouldn't increase the budget more than the income of the average Merkan family", etc. that the Republicans stood and cheered and the Dems sat stone faced and did the golf clap?
Hillary looked like she was visiting the proctologist:
Posted 28 January 2003 - 10:31 PM
Don't sweat it. Al's just ordered new printing presses from China
and exchanged some stupid shiny yellow stuff from Ft. Knox for them.
Posted 28 January 2003 - 10:39 PM
if shrub said"I made poopy by myself today"they would still stand and clap like a bunch of robots, i think I saw the applause sign...lol
he could say anything and they will cheer
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