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#1 potatohead

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Posted 24 October 2008 - 04:02 PM

=DJ Tsy, Fed Hold 3 Bailout Oversight Mtgs, But No Details



WASHINGTON (Dow Jones)--U.S. Treasury Secretary Henry Paulson has promised
that a $700 billion financial industry rescue would be transparent.

But his department has yet to disclose details about the first three
meetings of the Financial Stability Oversight Board, one of several entities
Congress created to watch over the government bailout, the most dramatic
government intervention in the markets since the Great Depression. The program
has quickly evolved from a plan to purchase troubled bank assets into one that
also will inject about $250 billion in capital into the nation's financial
institutions.

The board met on Oct. 7, Oct. 13 and again on Wednesday. It is charged with
reviewing actions taken by the Treasury in connection with the rescue program
and making recommendations on how the department should use the authority it
was granted under the Emergency Economic Stabilization Act, which was signed
into law earlier this month.

The panel includes Paulson, Federal Reserve Board Chairman Ben Bernanke,
Securities and Exchange Commission Chairman Christopher Cox, Federal Housing
Finance Authority Director James Lockhart and Department of Housing and Urban
Development Secretary Steve Preston.

Paulson onOct. 8 said Treasury is "committed to transparency in all aspects
of the program." But attempts by Dow Jones Newswires to learn details of the
board discussions haven't been successful.
"Don't piss on my back and tell me its raining!"

#2 Dr.Correll

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Posted 24 October 2008 - 04:06 PM

I'm going to go with a gap up Monday.
1. A big head of steam into yesterdays close= limit down in futz.
2. Nice slide in the into todays close= ramp those Monday futures.

A freaking circus.

 


#3 swordfish

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Posted 24 October 2008 - 04:08 PM

Mish at globaleconomicanalysis.blogspot.com presented such a graph:

Posted Image

Opinion of one of the polish traders (przecinek.usa) replied:

(transleted from polish)
"This graph present complicated structure of 5 waves, which suit fine my concept of three-wave structure

For me, 1-2-3 is just 1 till today. 3-4 + 4-5 represents my 2 and 3. There is a huge possibility that this will not occue beceause it will mean armagedon.

I believe that the market will pick up two times to present a new 5 wave structure.
This is how it goes:
3-4 will be much longer and would takes us much, much higher. In theory even DJI 14.000(!!!). My target is 11.000. At that point the wave will die.

4-5 (at the presented graph by Mish) will be very long and flat and eventually bring us to more or less 5.000 at DJI. This will take a lots of time, one more year or more.

Then, we will have a small bounce, maybe 10-15% and then we will drop to 5.000."

What DO YOU think about it?
Jail, not bail!

#4 Frenchy

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Posted 24 October 2008 - 04:11 PM

I think there a hole in the dingy.



:ph34r:
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#5 hokahay

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Posted 24 October 2008 - 04:12 PM

I'm going to go with a gap up Monday.
1. A big head of steam into yesterdays close= limit down in futz.
2. Nice slide in the into todays close= ramp those Monday futures.

A freaking circus.

View Post



Crapvision alert: Dow Up (312) at the close!

#6 Charmin

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Posted 24 October 2008 - 04:12 PM

IWM Rusty needs to maintain at least a sideways trading range using the Oct. 10 low as a reference point. Not sure if a death plunge breakdown is on store.

What can a goldbug to a groundhog tell you anyway except that is where the speculators might show up first - or not.

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#7 roxy

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Posted 24 October 2008 - 04:13 PM

I was shocked to read in the latest time that when under 2-YO baby McCain was in tantrums his parents used to fill the bathtub with cold water and throw him there in full clothes. Later on, it was sufficient to just fill the tube to make him stop.

This guy endured torture twice in his life, both for a prolonged periods of time.

It's amazing how much strength he had to overcome all this, but I'm sure he has some devils in his head. Could be a hidden desire to repeat a horrible situation and win again and again. I'm also sure that he has some hidden hate for which he can't properly formulate a target. But his words "I will fight" indicate that he is in a constant search for an object of fight.

#8 hokahay

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Posted 24 October 2008 - 04:23 PM

I think there a hole in the dingy.

:ph34r:

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:lol: :lol: :lol:

Calpers CIO has been picking bottoms. And complaining it ain't going his way.

waaaaaaaa.

#9 swordfish

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Posted 24 October 2008 - 04:31 PM

Don't you think that this is a third time that we test this lows and that represent a strong force over there? that means we will have a strong bounce.
Jail, not bail!

#10 ChicagoBear

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Posted 24 October 2008 - 04:44 PM

The highs continue to be lower, and the cycle times (the time between the peaks) is gettign logarithmically shorter.

Disclosure:  max short via SDS.

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The carnage continued this week. We didn't just test new lows this week, we set new ones closing on the Dow, SP, Nasdaq. Limit down this am as the world crashed was a first for this downtrend. I'm not sure how we avoided the landslide, but my charts have that waterfall look to them. I bought 500 SDS in the closing minutes just to have some skin in the game. My bet is down this weekend/Monday.
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

#11 mdporter

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Posted 24 October 2008 - 04:47 PM

Paulson might have used whatever is left of his $700 billion in the markets today. who knows what he's doing with the money? he just isn't saying.
The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken

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#12 phatbubble

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Posted 24 October 2008 - 04:54 PM

Mish at globaleconomicanalysis.blogspot.com presented such a graph:

Posted Image

Opinion of one of the polish traders (przecinek.usa) replied:

(transleted from polish)
"This graph present complicated structure of 5 waves, which suit fine my concept of three-wave structure

For me, 1-2-3 is just 1 till today. 3-4 + 4-5 represents my 2 and 3. There is a huge possibility that this will not occue beceause it will mean armagedon.

I believe that the market will pick up two times to present a new 5 wave structure.
This is how it goes:
3-4 will be much longer and would takes us much, much higher. In theory even DJI 14.000(!!!). My target is 11.000. At that point the wave will die.

4-5 (at the presented graph by Mish) will be very long and flat and eventually bring us to more or less 5.000 at DJI. This will take a lots of time, one more year or more.

Then, we will have a small bounce, maybe 10-15% and then we will drop to 5.000."

What DO YOU think about it?

View Post

May have misunderstood you, but I'd definitely be looking for a 5-wave impulsive structure out of the Oct 2007 top, with 3 (or possibly 5) as the longest wave.

Both the time and price level on that chart make general sense. Of course, we could go to 600 next week, but sorta doubt it.
Quod Severis Metes

Your life is the sum of a remainder of an unbalanced equation inherent to the programming of the Matrix. You are the eventuality of an internal anomaly, which despite my sincerest efforts, I have been unable to eliminate from what is otherwise a harmony of mathematical precision. While it remains a burden assiduously avoided, it is not unexpected, and thus not beyond a measure of control. Which has led you, inexorably, here.
You haven't answered my question.
Quite right. Interesting. That was quicker than the others.

#13 phatbubble

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Posted 24 October 2008 - 05:00 PM

The carnage continued this week.  We didn't just test new lows this week, we set new ones closing on the Dow, SP, Nasdaq.  Limit down this am as the world crashed was a first for this downtrend.  I'm not sure how we avoided the landslide, but my charts have that waterfall look to them.  I bought 500 SDS in the closing minutes just to have some skin in the game.  My bet is down this weekend/Monday.

View Post

Had that same trade teed up at 3:55 and held off. Didn't feel right for some reason. May regret it.

Been erring on the conservative side lately with overnight holdings.
Quod Severis Metes

Your life is the sum of a remainder of an unbalanced equation inherent to the programming of the Matrix. You are the eventuality of an internal anomaly, which despite my sincerest efforts, I have been unable to eliminate from what is otherwise a harmony of mathematical precision. While it remains a burden assiduously avoided, it is not unexpected, and thus not beyond a measure of control. Which has led you, inexorably, here.
You haven't answered my question.
Quite right. Interesting. That was quicker than the others.

#14 DrStool

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Posted 24 October 2008 - 05:19 PM

Stress? What STRESS?


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#15 hokahay

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Posted 24 October 2008 - 05:35 PM

Stress? What STRESS?

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I especially liked:

"I kinda got run over a little bit" && "The wealth has already been lost so.."

Where's Beeks? Where in the hell is Beeks?
:lol: :lol:





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