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IDS World Markets Fri 24th October 08


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#16 kaotic

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Posted 24 October 2008 - 03:49 AM

Looks like I went full tits long right before the clash, why am I not surprised  :lol:

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Don't feel Bad. :D You and a gazillion other gamblers did the exact same thing. Look, the mega trend is DOWN, any other conclusion is just for entertainment and gaming purposes..

#17 Roger7485

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Posted 24 October 2008 - 04:03 AM

I got in yesterday around 3, so I guess I have some cushion for a weak open. The question is do I sell into a 150 or 200 point gap down if the futures recover significantly from here(likely scenario). If we have a really weak open Ill just unload on da bounce, unless there is no bounce :ph34r:

#18 aussiebear

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Posted 24 October 2008 - 04:35 AM

OPEC Preparing Output Cut to Boost Prices After Slump

Oct. 24 (Bloomberg) -- The Organization of Petroleum Exporting Countries is preparing to cut oil production for the first time in almost two years to stem a collapse in prices.

Ministers of the 13 nations gathered at the group's Vienna headquarters at 9:30 a.m. local time, where Iran and Venezuela, two of the countries most dependent on high prices, will push for reductions.

Crude oil has tumbled 55 percent from a July 11 record of $147.27 a barrel as the financial market crisis spreads, job cuts increase and fuel consumption slows. Oil fell as much as 1.8 percent to $66.63 in New York this morning.

#19 b1ff

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Posted 24 October 2008 - 04:37 AM

8 handle on silver. Man. those COMEX boys sure can sell. Was down almost a buck without a green candle.

#20 aussiebear

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Posted 24 October 2008 - 04:38 AM

Italian Business Confidence, Consumer Optimism Drop in October

Oct. 24 (Bloomberg) -- Italian business confidence fell to the lowest in 15 years in October and consumer optimism dipped as the global financial crisis darkened the economic outlook and offset the positive effects of cheaper oil prices.

The Isae Institute's business confidence index dropped to 77.7 from a revised 81.8 in September, the Rome-based research center said today.

Italy, Europe's fourth-biggest economy, probably entered into a recession after the economy contracted 0.3 percent in the second quarter, European Central Bank board member Mario Draghi indicated on Oct. 21. A preliminary estimate for Italy's third- quarter gross domestic product will be released Nov. 14 by national statistics office Istat.

#21 Pretzel Logic

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Posted 24 October 2008 - 05:04 AM

8 handle on silver. Man. those COMEX boys sure can sell. Was down almost a buck without a green candle.

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Liquidating EVERYTHING. At the rate the SPX futures are going right now, we're going to break the 839 low on the open.

Seems to be a mass psychological shift occuring today.
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday

#22 hokahay

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Posted 24 October 2008 - 05:21 AM

I got in yesterday around 3, so I guess I have some cushion for a weak open.  The question is do I sell into a 150 or 200 point gap down if the futures recover significantly from here(likely scenario).  If we have a really weak open Ill just unload on da bounce, unless there is no bounce  :ph34r:

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Marc Faber was on Crapvision early in the week. He compared it to a tennis ball and said it usually bouces back a bit.

Unless there is no air in it.
:o :o

#23 Jetlag

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Posted 24 October 2008 - 05:24 AM

Marc Faber was on Crapvision early in the week.  He compared it to a tennis ball and said it usually bouces back a bit.   

Unless there is no air in it.
:o  :o

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Marc Faber is bullish again!? We're so doomed :ph34r:

#24 Pretzel Logic

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Posted 24 October 2008 - 05:45 AM

Marc Faber was on Crapvision early in the week.  He compared it to a tennis ball and said it usually bouces back a bit.   

Unless there is no air in it.
:o  :o

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If this is a nested 3rd wave, there won't be much in the way of pullbacks. Think in terms of the decline leading into Oct. 10... everyone's waiting for a pullback to get short, but the pullback never comes.
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday

#25 Jetlag

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Posted 24 October 2008 - 05:45 AM

To help the viewers at home comprehend the current affair of the equity markets here's the Bristol Stool chart, unfortunately it's missing the type 8, where we are now, and the type 9 where we are headed.

Posted Image

Type 8: totally liquid with traces of blood
Type 9: totally liquid with abundant blood, prolapsed organs and bits of internal organs.

Here's a snapshot of type 8 for your viewing pleasure

Type8bristol.png

#26 Lemur

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Posted 24 October 2008 - 05:45 AM

Converted most gold bullion to euro. Bought it 6 yrs a ago or so and I dont want to give all of those gains back. I am not going to ride it down as I have some junior mining stocks. Will turn and jump back in if gold turns.

Meanwhile, Bloomberg announces CME futures are limit down. Europe melt down. GBP meltdown. Oil still falling hard even though OPEC cut.

I am sick of this. It looked to Dover Sole too short this past week but it wasn't.

Going for a long walk to clear my head & relax.

#27 Pretzel Logic

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Posted 24 October 2008 - 05:46 AM

Wow. Limit down in the FUtures.

^ Whoops, Lemur's post wasn't there when I started typing.

Gotta tell ya, one of the greatest things I've learned from Doc:

"There's no such thing as Dover Sole in a bear market."
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday

#28 Jorma

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Posted 24 October 2008 - 05:49 AM

Anybody have the circuit breaker rules handy? It could be a boring day in the market, if it's closed.

War is the last great hope of the incompetent to order the unwilling to attempt the impossible.
William Eastlake 'The Bamboo Bed'

Change you can suspend your disbelief in.
Fafblog

 

The Treasury

could burn down

We jammin still

Full Extreme   Ultimate Rejects


#29 Jetlag

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Posted 24 October 2008 - 05:50 AM

Oh I might get some of my 1996 price levels stinky bids on some euro stocks filled today.

#30 Lemur

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Posted 24 October 2008 - 05:53 AM

Anybody have the circuit breaker rules handy?  It could be a boring day in the market, if it's closed.

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Prefer to see it closed. I need a break. However, if it is closed and opens Monday, things look black.





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