DrStool Posted May 6, 2009 Report Share Posted May 6, 2009 Doc, Will the Fed allow the PDs to pull the plug as BHO's plan need a strong market to keep the sheple's confidence up. What you are describing is a riigged market by the government with the PDs and insiders making the coin. When things get "too hot" they will pull the plug. And you are correct. I saw a Larry Williams webcast Saturday and his cycle work is calling for a top the last week in May through the first week in June. He has pretty good track record which KW will verify. It's not at all inconsistent with my cycle work. The key term is "A top". That may not be "THE top". The other thing is that in Hurst, top windows can be very broad. The price high may not coincide with the wave high. For example, the wave peak might be June, but there could be a touch of the upper edgeband in May, then a pullback then another touch of the edgeband in July to form a double top. And there are no guarantees that the down phase will be down in real terms although typically in the first leg of a bull market you do get a major pullback that sucks in all the bears again. I'm not saying that that's my forecast. Just saying that Williams' call leaves wiggle room for that, unless he was more specific in that he expected it to be a bear market rally high with new lows to follow. Link to comment Share on other sites More sharing options...
NV 375 Posted May 6, 2009 Report Share Posted May 6, 2009 I second MD's comments on the price of gas. Last summer when oil went to $148/barrel, Here in Denver the price of the lowest grade unleaded topped out at $3.99/gal Then it fell to between $1.40-1.45/gal Today there was another 15 cent spike with many stations at $2.19/gal The price of oil is $56.35/barrel. Talk about being squeezed Link to comment Share on other sites More sharing options...
Trader Joe Posted May 6, 2009 Report Share Posted May 6, 2009 Incidentally, my son used the word 'douchebag' this week. He didn't learn it from us, and he's too young to read, so he didn't learn it from the Stool. Pretty obvious to me.... You must have had C N B C on.... Either Kudlow or Kneale must have been talking their usual garbagio ®.... 8 to 80, blind, cripple or crazy....that's the first word that comes to everyone when either of those fools are on the tube Link to comment Share on other sites More sharing options...
byhiselo Posted May 6, 2009 Report Share Posted May 6, 2009 ...although typically in the first leg of a bull market you do get a major pullback that sucks in all the bears again... no bloody way, this is a bear extinction campaign...will need to come up with another species that foolishly bets on the market going down Link to comment Share on other sites More sharing options...
Trader Joe Posted May 6, 2009 Report Share Posted May 6, 2009 I second MD's comments on the price of gas. Last summer when oil went to $148/barrel, Here in Denver the price of the lowest grade unleaded topped out at $3.99/gal Then it fell to between $1.40-1.45/gal Today there was another 15 cent spike with many stations at $2.19/gal The price of oil is $56.35/barrel. Talk about being squeezed Still time left to hedge your unleaded gas use.... I reco'd this here shortly after it banged $16....then again at $20.....and lastly at $22 Needless to say, Trader Joe is fully hedged for about 10 years of gas use....long the UGA plus selling puts and calls to generate additional income My cost per gallon is locked in at about $1.89 Link to comment Share on other sites More sharing options...
mdporter Posted May 6, 2009 Report Share Posted May 6, 2009 Still time left to hedge your unleaded gas use.... I reco'd this here shortly after it banged $16....then again at $20.....and lastly at $22 Needless to say, Trader Joe is fully hedged for about 10 years of gas use....long the UGA plus selling puts and calls to generate additional income My cost per gallon is locked in at about $1.89 what kind of target do you have? Link to comment Share on other sites More sharing options...
Trader Joe Posted May 6, 2009 Report Share Posted May 6, 2009 what kind of target do you have? Into the low $30's by July and then back down into the $20's, maybe high teens This is going to be a great "seasonal" trading vehicle Link to comment Share on other sites More sharing options...
4shzl Posted May 6, 2009 Report Share Posted May 6, 2009 There were some glib remarks on this board yesterday about the cushy job firemen have. Anyone who would like to see how easy it is is invited to try their hand in Mission Canyon here in Santa Barbara where a wind-driven wildfire is in the process of roaring down through the foothills into heavily populated areas. Bung, I hope you are as far away as I am from this inferno. SB local news Link to comment Share on other sites More sharing options...
mdporter Posted May 6, 2009 Report Share Posted May 6, 2009 the policeman racket in Oakland CA is going to take a hit. The city's budget is $100 million short, they've decided to cut back on the police force. Party time for the criminals in Oakand, again! Of course Oakland is now going to the Feds with their hands out for a "grant" source Maybe Oakland can ask for their money back from all the people they bribed to buy a house in oakland. $75k each for qualified recipients. Link to comment Share on other sites More sharing options...
Jetlag Posted May 6, 2009 Report Share Posted May 6, 2009 Pent-up demand driven by Chinese farmers averts GD II "Chinese Farmers The program, where farmers receive discounts on electronics, helped drive up flat-panel TV sales in the mainland by about 50 percent in the first quarter, Chi Mei, Taiwan?€™s second-largest display maker, said last month. Flat-screen TV sales in China will probably rise more than 30 percent in 2009, Austin, Texas- based research firm DisplaySearch said last month. " http://www.bloomberg.com/apps/news?pid=206...&refer=home Small trucks, motorcycles, mobile phones, LCD's ... they can't get enough of this stuff. Link to comment Share on other sites More sharing options...
Bungster Posted May 7, 2009 Report Share Posted May 7, 2009 There were some glib remarks on this board yesterday about the cushy job firemen have. Anyone who would like to see how easy it is is invited to try their hand in Mission Canyon here in Santa Barbara where a wind-driven wildfire is in the process of roaring down through the foothills into heavily populated areas. Bung, I hope you are as far away as I am from this inferno. SB local news My understanding is that most of the fire fighting is being done by the air - water drops using helicopters. They have a tough job fighting the winds in the area. The ground crews are standing by the homes in the event of the fire coming their way. I'm sure the homeowner's (if they are around) will make sure they have plenty of lemonade and cookies.... Link to comment Share on other sites More sharing options...
Bungster Posted May 7, 2009 Report Share Posted May 7, 2009 the policeman racket in Oakland CA is going to take a hit. The city's budget is $100 million short, they've decided to cut back on the police force. Party time for the criminals in Oakand, again! Of course Oakland is now going to the Feds with their hands out for a "grant" source Maybe Oakland can ask for their money back from all the people they bribed to buy a house in oakland. $75k each for qualified recipients. I read an article the other day about the cities employing LOBBYISTS to go to Washington and lobby for funds for their city.... UFB Link to comment Share on other sites More sharing options...
Jetlag Posted May 7, 2009 Report Share Posted May 7, 2009 "House to ask BofA CEO Kenneth Lewis about claims the company was pressured by government to complete Merrill deal: report" http://www.reuters.com/ Ben Bernanke should take some pointers from Col. Jessep for his testimonial against Lewis. "Son, we live in a world that has walls and those walls need to be guarded by men with guns. Who's gonna do it? You? You, Lieutenant Weinberg? I have a greater responsibility than you can possibly fathom. You weep for Santiago and curse the Marines; you have that luxury. You have the luxury of not knowing what I know: that Santiago's death, while tragic, probably saved lives and that my existence, while grotesque and incomprehensible to you, saves lives. You don't want the truth because deep down in places you don't talk about at parties you want me on that wall, you need me on that wall. We use words like honor, code, loyalty. We use then as the backbone of a life trying to defend something. You use them as a punchline. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom I provide and then questions the manner in which I provide it. I would rather you just said "thank you," and went on your way. Otherwise, I suggest that you pick up a weapon and stand a post. Either way, I don't give a damn what you think you are entitled to. " I'm still laughing my ass off from this one (from Lemon collapse): " Son, we live in a world that has bonds and those bonds need to be bought by men with balance sheets. Who's gonna do it? You? You, Lieutenant Fuld? I have a greater responsibility than you can possibly fathom. You weep for Bear Sterns and curse the short sellers; you have that luxury. You have the luxury of not knowing what I know: that Lehman's death, while tragic, probably saved firms and that my existence, while grotesque and incomprehensible to you, saves markets. You don't want the truth because deep down in places you don't talk about at parties you want me buying bonds, you need me buying bonds. We use words like TSLF, PDLF, Super SIV. We use them as the backbone of a life trying to defend something. You use them as a punchline. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom I provide and then questions the manner in which I provide it. I would rather you just said "thank you," and went on your way. Otherwise, I suggest that you pick a sub-prime option arm bond and pay par. Either way, I don't give a damn what you think you are entitled to." Link to comment Share on other sites More sharing options...
Goldmember Posted May 7, 2009 Report Share Posted May 7, 2009 I would imagine that rural Chinese are taking advantage of these programs to also increase their output, via credit and discounts for tractors, trucks, irrigation pumps, generators or whatever is required in the individual circumstances, even if it's on a small scale. Offer a small farmer a way to get suitable equipment for production of profit then items like new LCD TV's are justified out of their expected increase in profits. Damn fine program. Link to comment Share on other sites More sharing options...
dogsie Posted May 7, 2009 Report Share Posted May 7, 2009 SKF hit a 52 wk low today, yet...UYG is 1/9th of its 52 week high Link to comment Share on other sites More sharing options...
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