[DrStool]

Tomorrow. You know what happens when the elephants are in the room.

[DrStool]

Non Confirmation! Professional Edition

by Lee Adler, Tuesday, September 22, 2009, in Money and The Fed, Professional Edition | Permalink |Comments (0) Edit Cycle based stock screening data weakened in 8 of the 9 measures and was unchanged in the ninth. 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.

[Goldmember]

The dreaded Hanging Churd formation...

...or is it launchpad?

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[Goldmember]

I think tomorrow will NOT be a hum-drum day.

Got snacks?

[quanta]

Doc,

Got a Page Not Found - 404 on the link...

[quanta]

DrStool, on Sep 22 2009, 10:33 AM, said:

Weinswig?

Seen on the Club circuit with Shorrz de ChugzBierz.

[Ags Nightmare]

Just caught a little bit of Lost Money late and they had some British guy on and he was pissed....basically said it ain't a matter of "if "but when our "gimmick bubble" blows.....lot of pissed off foreigners who played helo Ben's game to save their own asses because "we" screwed" the pooch "here" and blew up the global financial system...his argument came from the currency angle and basically threw poo in the face of the breathless dart throwing monkey's on the Lost Money panel....Eddie in particular was a world class jack ass and Pony Tail One went of on a 5 minute without an iota of breathing ranting about how CNBS "trained" the stoopid dippers to buy condoms so they can endure the next white knuckle swan dive into the Grand Canyon.....

That will work...for a 3 % correction.........are they gonna reload on poots when they get called ?.......nope...it ain't that easy Mr. Meer Cat you Jackass....



It really was worth a watch cause I completely agree with the British guy...this is gonna keep going up until it ends....but their ain't no foulking way Joe six pack is getting out....not a chance.....this is insane...and you got a lot of pissed off foreigners looking at us like we are out of our minds....they know our markets are a circus....

[mdporter]

Ags Nightmare, on Sep 22 2009, 03:20 PM, said:

It really was worth a watch cause I completely agree with the British guy...this is gonna keep going up until it ends....but their ain't no foulking way Joe six pack is getting out....not a chance.....this is insane...and you got a lot of pissed off foreigners looking at us like we are out of our minds....they know our markets are a circus....

If that's the case then JPOF can sell and go away to play in their own rigged markets. Nobody is compelling them to pay tribute to our wall street masters.

[Charmin]

Goldmember, on Sep 22 2009, 06:04 PM, said:

I think tomorrow will NOT be a hum-drum day.

Got snacks?

After speaking with a fellow laborer he was telling me his fund manager is expecting Dow 10,500 then move some money out of stocks.
Fully in, so who's buying now? Let me guess, Ben and Timothy.

[Ags Nightmare]

mdporter, on Sep 22 2009, 05:24 PM, said:

If that's the case then JPOF can sell and go away to play in their own rigged markets. Nobody is compelling them to pay tribute to our wall street masters.

They ain't...he basically said it's getting close to where the global community is gonna say F you to our clusterf**k and walk away....and I disagree....our Wall Street Masters nearly took down the globe with our toxic assets which are still sitting on the books rotting away....

Bottom line....we don't make sheet other than debt....nothing...nada....we may well trade higher but we will experience another crash...our whole economy is fake.

[Trader Joe]

Lemur -- congrats on the junker stock scalp today

Hanky -- (from IDS) "dirty Jersey" -- Amen, AC should be blown off the map.....the place is MUY HORRIBLE

[briarberrys]

The SnPee PE ratio is over 120, also the FTSE100 PE ratio is over 70

UK - yeah a lot of Brits are in denial about our banking system and that's despite the fact that our UK banks were loaning out 125% LTV mortgages just like in the US. And they borrowed short term and lent long just like over there. MBS & SIVs, everything the same.

[Ags Nightmare]

TJ, "Just Gotta" ( my Lost Money Mid Day Tribute) admit...you are real good at finding trash that's gonna get squeezed,,,,that's the game for now....nice call's over the past several weeks...

Just got back and will go which ever way the wind blows but this market is in freak show territory....healthy 10 to 20 % correction..( yes we trade in dog years) and dong away....

[Lemur]

Trader Joe, on Sep 22 2009, 11:38 PM, said:

Lemur -- congrats on the junker stock scalp today

Thanks for pointing that one out. Only bought 1000 shares since it was just a gamble. Was hoping to see a run into the close but got out when i saw the closing takedown coming.

[quanta]

Original Sin - Kunstler

In our history, the American nation committed obvious sins against select groups of people, and we've paid bitterly for some of that. But now it's our sins against the land itself that threaten to sink the USA as a viable enterprise.
It's odd, that in his otherwise excellent blow-by-blow account ("Eight Days," in the Sept 21 New Yorker Magazine) of the September 2008 Wall Street meltdown that left Lehman dead, and AIG croaking in a ditch, and the banking system in general functionally crippled, reporter James B. Stewart never got around to really describing the cause of it all -- namely, the on-the-ground material catastrophe of American suburbia.

It was the worthlessness of the tradable securitized debt associated with all those overpriced (and overvalued) chipboard and vinyl houses, smeared recklessly over the American landscape, that started all the trouble in the first place. And it is our inability to come to grips with that underlying catastrophe that prolongs the resolution of the still-florid banking crisis -- since the federal government is doing everything possible to prop up the failed capital equation of terminal suburbia, and to deny the obsolescence of that version of the American Dream and all the mechanisms for delivering it.

...

It was also ironic, tragically so, that during this same period Wall Street began to seek some new way to make real money beyond stock and bond markets, which didn't seem to produce wealth at all for more than a decade when inflation was factored in. By a fortuitous coincidence, the revolution in computers enabled Wall Street bankers to concoct abstruse new species of tradable paper securities based on bundles of debt that seemed to produce miraculous earnings. It had the added advantage of being inscrutable to both investors and financial regulators. Due diligence became impossible and moral hazard spread like ringworm in a dormitory. The bulk of the securitized debt originated in home mortgages and the larger result was a gigantic racket ramped up between Wall Street and the US government to conceal all the structural weaknesses of a de-industrialized US economy behind a hyperbolic commerce in the very thing that the American public cherished most: their houses, which, understandably, everybody had come to call "homes."

The banking fiasco still underway is at once a proxy for the larger failure of the American economy and the greatest fissure in it. Put as simply possible: we can't service our debt, we can't generate more debt, and the notional "capital" we thought we possessed is dissolving into nothingness. The federal government and Wall Street remain committed to supporting all the rackets associated with a suburban sprawl economy that has entered its own zone of remorseless failure. It is failing as a capital investment first, and is secondarily failing as a practical living arrangement. The two failures will continue in a close race toward terminal entropy.

The dirty secret all along was that by 2005 there was no economy left in the USA beyond the suburban sprawl economy with its so-called "consumer" nexus -- largely devoted to the outfitting of suburbia. More mortgage debt (and credit card and car loan debt) will go bad and the investment paper that represents it will go bad and it will eventually destroy our current system for accumulating, valuing, and deploying wealth. It will not destroy the function of capital -- no matter how many angry intellectuals inveigh against the straw man of capital-ism, as if it were merely a belief system - but it will be a long long time before anything sturdy or credible in the way of banking will be reconstructed out of the wreckage.