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It's Always Brightest Before the Puke


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#1 DrStool

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Posted 21 July 2009 - 03:56 PM

Just a grasping straw for ya.

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#2 Sudaca

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Posted 21 July 2009 - 04:13 PM

Just a grasping straw for ya.


Oi !

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Thanks, David

#3 Bungster

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Posted 21 July 2009 - 04:21 PM

I think I see the light!

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#4 patents

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Posted 21 July 2009 - 04:33 PM

7 days in a row now that the SPU closed in the upper 30 percent of the full session trading range. WOW! This is certainly a black swan event. (Not all black swan events have to be bad!) (And yes I know that only when the close is in the bottom 30 percent does the market reverse itself the next day, but such a closing streak is almost unprecedented.)

But, today the SPU did set a new low of the day after establishing the high of the day; so, they can now start a new streak of establishing the highs after the lows of the day. (Not applicable to NDX futures.)

The brief foray of the 20 SMA below the 50 SMA for the SPX and NDX must have really annoyed one with power. And it happened while a certain someone was talking. Not very polite.

#5 Sudaca

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Posted 21 July 2009 - 04:40 PM

AAPL beats yesterday's numbahs, but lowers tomorrow's. Hoo ha. I have no idea how to read that. Especially since consensus estimates are always higher than guidance. :huh:
Thanks, David

#6 Jimi

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Posted 21 July 2009 - 04:46 PM

I did my part by buying an iPhone.

What a remarkable piece of equipment - great apps for it.

Pity, of course, that AT&T coverage TOTALLY EFFING SUCKS.....
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#7 Sudaca

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Posted 21 July 2009 - 04:54 PM

I did my part by buying an iPhone.

What a remarkable piece of equipment - great apps for it.

Pity, of course, that AT&T coverage TOTALLY EFFING SUCKS.....


Agreed. Best gadget I have ever seen or had. I have downloaded almost 80 apps so far. I use it for mail, phone, games, guitar tuning, translator , etc..

But if you take it to, say, Europe for a month... be sure to TURN OFF the data roaming function. I used the web-based GPS function everywhere I could without realizing I was getting raped by the astronomical data roaming fees. $600 bucks poorer. :angry2: Be sure to use Wi-Fi every time you can.
Thanks, David

#8 GregFokker

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Posted 21 July 2009 - 04:59 PM

Looks nice but I like typing on my Blackberry Bold :D

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#9 swordfish

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Posted 21 July 2009 - 05:02 PM

I did my part by buying an iPhone.

What a remarkable piece of equipment - great apps for it.

Pity, of course, that AT&T coverage TOTALLY EFFING SUCKS.....



No hard feeling but iphone is for Americans.

HTC does better phones, and you have windows mobile + a lot of apps, crack etc

check also LG Arena for example
Blackberry Storm is also a nice phone
Apple is just a master of marketing, nothing more, with medium product. Previous iphone were missing TONS of details funtions which are normal for e.g. Nokia, HTC, Samsung.

Apple just know how to sell shit.
Jail, not bail!

#10 DrStool

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Posted 21 July 2009 - 05:06 PM

Setting A Trap- Professional Edition


by Lee Adler, Tuesday, July 21, 2009, in Professional Edition, Today's Markets | Permalink |Comments (0) Edit The market took another stutter step toward short term and intermediate price projections just above current levels. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

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#11 patents

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Posted 21 July 2009 - 06:35 PM

CIT Expects Loss of $1.5 Billion, May Seek Bankruptcy (Update3)

Bloomberg Article

Can someone spin this article for me how it is a positive for the markets?

$3 Bill loan line yesterday; $1.5 Bill loss coming - how is this good?

Also, are the loans to CIT under the fractional reserve system for banks? If so, what is the actual cost to the bank(s) before the cloning of the deposited money takes effect? Is this why the Treasury would not fund CIT since they do not have the benefits of the fractional reserve multiplier effects?

Thnx.

#12 Jorma

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Posted 21 July 2009 - 07:10 PM

CIT Expects Loss of $1.5 Billion, May Seek Bankruptcy (Update3)

Bloomberg Article

Can someone spin this article for me how it is a positive for the markets?

$3 Bill loan line yesterday; $1.5 Bill loss coming - how is this good?

Also, are the loans to CIT under the fractional reserve system for banks? If so, what is the actual cost to the bank(s) before the cloning of the deposited money takes effect? Is this why the Treasury would not fund CIT since they do not have the benefits of the fractional reserve multiplier effects?

Thnx.


A small part of CIT might be a bank but it's main business isn't done as a bank. One of it's main businesses is financing retail inventory. Done the way they do it this is called factoring and it is an old and non bank related business. It seems that due to the unique aspect of this business CIT's bond holders could up owning CIT's customers. The ultimate Vulture scenario. Admittedly I am a bit sketchy on the whole thing.

A portion of the corporate bond market now is being occupied by those who hope to own the borrowers and want them to go under. Liquidation isn't pretty and vultures are inevitable and necessary to clean up the carcasses. It can get extra ugly when a small elite get to pick and choose who dies and who then get first dibs on the carcass.

Credit default swaps now offer a way to profit handsomely from default and bankruptcy. Think of it as a life insurance policy taken out on you, by a neighbor. He might not accidentally run over you with his car but if somebody does he might urge your wife to take you off life support.

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#13 Jetlag

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Posted 21 July 2009 - 08:01 PM

Pretty good action in the Bernanke show today here.

The amounts and the issues are so huge that any general question can be and is treated by the High Priests as beneath them if for no other reason that it's all just so frightfully complicated. The great unwashed cannot possibly understand it.

The divide is total. Some law passed some generations ago gave a few guys at the Fed the power to do whatever it is they do. He's sure of it.

http://www.youtube.com/v/n0NYBTkE1yQ.swf


I can easily imagine Sir Alan retorting those questions with thick financial jargon that is impenetrable by the limited capacity of politician's grey matter making them look like childish fools while Sir Alan would be looking like a guru of unlimited knowledge.

Ben's too nervous. He's sweating bullets. He acts like he took some trillions and stuffed them in his mattress at home and he's about to be caught.

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#14 mdporter

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Posted 21 July 2009 - 08:05 PM

No hard feeling but iphone is for Americans.

HTC does better phones, and you have windows mobile + a lot of apps, crack etc

check also LG Arena for example
Blackberry Storm is also a nice phone
Apple is just a master of marketing, nothing more, with medium product. Previous iphone were missing TONS of details funtions which are normal for e.g. Nokia, HTC, Samsung.

Apple just know how to sell shit.


obviously you haven't used an iphone for any amount of time.

Those other phones are nice, but the iPhone has a number of features that aren't replicated anywhere else. and the iphone is marketed in several countries. A Chinese iphone is next.
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#15 patents

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Posted 21 July 2009 - 08:07 PM

A small part of CIT might be a bank but it's main business isn't done as a bank. One of it's main businesses is financing retail inventory. Done the way they do it this is called factoring and it is an old and non bank related business. It seems that due to the unique aspect of this business CIT's bond holders could up owning CIT's customers. The ultimate Vulture scenario. Admittedly I am a bit sketchy on the whole thing.

A portion of the corporate bond market now is being occupied by those who hope to own the borrowers and want them to go under. Liquidation isn't pretty and vultures are inevitable and necessary to clean up the carcasses. It can get extra ugly when a small elite get to pick and choose who dies and who then get first dibs on the carcass.

Credit default swaps now offer a way to profit handsomely from default and bankruptcy. Think of it as a life insurance policy taken out on you, by a neighbor. He might not accidentally run over you with his car but if somebody does he might urge your wife to take you off life support.


Thanks, but I was asking about the banks led by Barclays syndication that loaned the $3 Bill money to CIT. Did the $3 Bill loan line cost merely $30 mill or $300 mill if they only need to have 1 percent or 10 percent in deposits that is then cloned to produce the money loaned out the door (in this case to CIT). Thus the rescue (albeit temporary it may be) of CIT really only required say $300 mill in free funds that was then multiplied to $3 Bill under a 10 percent fractional reserve requirement. I would think that the Treasury does not have a similar 10 to 1 multiplier effect.

I just do not know what is cloned money and what is based on real underlying value.

Thnx again





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