40 replies to this topic
Posted 02 September 2009 - 04:22 PM
Bear flag or blasting base? We will probably know the answer 2morrow. Anyone got a guess?
Posted 02 September 2009 - 04:39 PM
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
"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali
"When plunder has become a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." -- Claude Frédéric Bastiat
Posted 02 September 2009 - 04:43 PM
Nice job gold longs...I got stopped out of one of my two rent a mule longs.....
TJ asked who was Ming on IDS as I missed the afternoon...Lost Money contributor who was long and strong before yesterday....
"I went out and bought an Apple Computer; it had a worm in it"....."When I was born, I was so ugly that the doctor slapped my mother"....'I played hide and seek; they wouldn't even look for me.'- Rodney Dangerfield
Posted 02 September 2009 - 04:47 PM
You mean WAMUQ? Down 8% today-- that's one penny, LOL.
Posted 02 September 2009 - 05:18 PM
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush
Posted 02 September 2009 - 05:32 PM
Well.....there ya go
John Hyland, Master of UNG and USO on "Lost Money".....
Merisa: "What's the worse case scenario for UNG and USO?"
Hyland: "We shut 'em down and cash out investors, and then open multiple smaller funds [to get around the new regulations]"
Posted 02 September 2009 - 05:44 PM
A great comment from Richard Russell tday.
I received this in the mail today. My first reaction was to laugh, but my second reaction was to shake my head and feel sad.
Let me get this straight -- Obama's health care plan will be written by a committee whose head says he doesn't understand it, passed by a Congress that hasn't read it, and whose members are exempts from it, signed by a president who smokes in secret, funded by a treasury chief who did not pay his taxes, overseen by a surgeon general who is obese, and financed by a country that is broke.
What could possibly go wrong?
Posted 02 September 2009 - 05:55 PM
Posted 02 September 2009 - 06:06 PM
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Posted 02 September 2009 - 06:08 PM
Another huge gap up in Muni-land....
I will post a chart when it is updated,Absolute missile launch....
My indivdual muni holdings are on fire,and the closed end NAV's now up about 7 to 8% in the last 30 days.I was going to sell some,but I will wait longer to let my funds catch up to the NAV's.
Still some huge bargains and big discounts to NAV's on a few funds if you shop around.
Posted 02 September 2009 - 06:17 PM
It's looks like fixed income of any type is where the money is being dumped.Always a bubble somewhere.....
I think people still want to be "in the game" but with less perceived risk,thus the rotation into any kind of bonds.
Posted 02 September 2009 - 06:38 PM
Corporate bonds have been the biggest receivers of funds from the money market mountain.
Investment Grade credit spreads have tightened significantly this year, but are still historically high. At least that has been the mantra these last few months.
The problem that I see is that the majority of investors don't buy "spread", they buy "yield", and while the spread is still higher than any time in the last decade or more, the yield is already at a level where there has been record issuance by corps.
Food for thought.
Consensus view on Wall Street now is that IG corp spreads can tighten another 100bps this year, thus the heavy sales pitches in that sense.
However, given the fact that one of the reason spreads are still relatively high is the ultra-lo government yields, there's a high possibility in my book that the "extra 100 bps" of tightening could come from rising gov yields and not from additional corp bond capital appreciation.
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