Friday, August 10, 2007
Oh, Boy, We're Fucked
Fed adds liquidity; futures hang out in the depths of hell.
Enjoy the pep talk.
Enjoy the pep talk.
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Guys. as I'm going into cash, I'm trying to decide about MVIS (my largest position by far). I was thinking I would dump 50% as a precaution. Anybody thinking in a similar fashion?
# posted by 
: 9:05 AM
: 9:05 AM
gold is up after this fed move ... could be a knee jerk reaction .. we'll see if it has staying power .. I'm thinking golds time for a sustained move over the 680ish level is at hand ... a nice ascending tri on the weekly
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WFC said no secondary market for mortgages other than conventional conforming mortgages.
lenders have to keep the non-conforming loans on their books right now.
that will pass.
the tell is the treasury market.
2 yr to 30 yr spread is 60 bp; last week it was 20 bp--forecasting positive outlook for economy; 3 m0 / 10yr spread is still showing negative outlook for financials.
Fed discount window now open.
lenders have to keep the non-conforming loans on their books right now.
that will pass.
the tell is the treasury market.
2 yr to 30 yr spread is 60 bp; last week it was 20 bp--forecasting positive outlook for economy; 3 m0 / 10yr spread is still showing negative outlook for financials.
Fed discount window now open.
Fred Thompson-
"Since the spring of 2003, the economy has had average growth of over 3%, 8.2 million jobs have been created, and the inflation rate has stayed low. The current unemployment rate, 4.6%, is a full percentage point below what it averaged during the 1990s, and there have been 47 consecutive months (almost four years) of job growth. In the last three years, workers’ salaries have risen by $1.2 trillion, or $8,000 per worker, and consumer confidence recently reached its highest level in almost six years."
"Since the spring of 2003, the economy has had average growth of over 3%, 8.2 million jobs have been created, and the inflation rate has stayed low. The current unemployment rate, 4.6%, is a full percentage point below what it averaged during the 1990s, and there have been 47 consecutive months (almost four years) of job growth. In the last three years, workers’ salaries have risen by $1.2 trillion, or $8,000 per worker, and consumer confidence recently reached its highest level in almost six years."
some homey stocks are actually up on this bad news .. thats what a bottom looks like .. TOL RYL MTH HOV MDC MHO .. all up ... as they say, it ain't the news, its the reaction to the news ... but the day is young .. no positions in any homeys .. bot USG though .. piece of shit but wtf
Gold- Hold your nose when buying that shit. With Asian mkts tanking you may see some drops in GLD as they sell assets to cover stock losses. Pretty though.
Fed's job to prop $US may be getting easier since central banks are providing liquidity.
this day might not be so bad after all.
this day might not be so bad after all.
'Fed's job to prop $US may be getting easier since central banks are providing liquidity.'
excellent point
excellent point
if we are not at the bottom of this thing, we are getting pretty close.
this is a nice surprise, thus far.
i was expecting much worse at the open.
this is a nice surprise, thus far.
i was expecting much worse at the open.
I surprised we have stayed above the recent lows. Bullish indeed.
However, who on Monday a.m. knows what bank/investment bank/mortgage broker is going to announce bankruptcy, effectively sending everything in a tail spin.
I don't think it makes sense to hold over night until we are certain the market is discounting future blow ups.
However, who on Monday a.m. knows what bank/investment bank/mortgage broker is going to announce bankruptcy, effectively sending everything in a tail spin.
I don't think it makes sense to hold over night until we are certain the market is discounting future blow ups.
Sorry, I was up in NY the last two days... so I wasn't able to lop any chicken heads, light up the Hand of Glory, etc, etc...
Give me a minute to head back to the chicken coop. I think we may need to gut the red bantam rooster for this one.
_____________
First tornado in Brooklyn in 118 years btw. My luck.
Give me a minute to head back to the chicken coop. I think we may need to gut the red bantam rooster for this one.
_____________
First tornado in Brooklyn in 118 years btw. My luck.
Oh, great: NTRI CFO is leaving. So of course it gets obliterated on a day like today.
Is the short on MCHX like 90% of the float yet? Is there a bottom? Aaaaaaaaaaaaaaaagh!
Is the short on MCHX like 90% of the float yet? Is there a bottom? Aaaaaaaaaaaaaaaagh!
we need to finish DJIA above 12900 and P's hold the 1455 level.
...reviewing Fly's pep talk again and again...
maybe we can get jj to spam it around.
...reviewing Fly's pep talk again and again...
maybe we can get jj to spam it around.
I have Cashed out completely with a nice loss and went 100% cash. This is the beginning of the big bear marked by Priv Equity (BX,FIG) going IPO recently. Fuck you all.
Steve, quit shorting the market to win our bet, it will cost you. I need a laugh. Somebody give me a list of five reasons why this economy is in the shitter. If you say "subprime" you deserve a kick in the balls.
Yep, this is big, new and ugly. Where it goes, nobody knows.
A lot of stocks that have held up well or even been mostly green the past couple weeks are getting killed right now. Just a sea of red across the board.
A lot of stocks that have held up well or even been mostly green the past couple weeks are getting killed right now. Just a sea of red across the board.
Crude, I only go short or long to make money, winning bets and proving people wrong is just icing on the cake.
All Daytraders need to man up. If you are going to daytrade as Fly suggested yesterday there have been many opportunities from SMH early to XLE,XOM and gold stocks. Even JNJ has been a great trade today.
Just did one of my fastest daytrades ever-held a stock 4 seconds for a .25% gain. Bullshit all over the place. Thank you Fed.
VMI holding up nicely. I guess they are the only company in the US that does not lend to subprime borrowers. Steve we just hit bottom, off to 15,000! Yeehaw. Days like this go much easier, if you do a few things. 1.Set your chart settings to weekly, not daily. 2. Take the colors out of the candlesticks so you cant see red or green. 3. Turn off CNBC. I am watching Tombstone at the office right now, Doc Holiday is a funny guy.
This is better than the Tech bubble. Then stocks only went up. Today they are up,down, and sometimes up and down the same % within five minutes. Insane.
Somebody is fucking with the Russell futures. Watch IWM. The volume is huge so far and it seems to only go up. Compare it to the Qs which are lagging badly.
newequity,
I'm one of the cheerleaders and i'm down 2% today. Big deal. Assholes like you like to revel in others' misery and have nothing constructive to offer. Of course you probably don't even have money to trade so what fucking difference does it make
I'm one of the cheerleaders and i'm down 2% today. Big deal. Assholes like you like to revel in others' misery and have nothing constructive to offer. Of course you probably don't even have money to trade so what fucking difference does it make
traddercaddy,
Glad to hear you're "banking coin." It's been a good day but also easy to give a lot back.
-DT
Glad to hear you're "banking coin." It's been a good day but also easy to give a lot back.
-DT
harry,
I have around 60k to trade with, FYI. I will be ok if I lose it all because of my superiority to assholes like yourself. Now go back to fuckin your cousin.
I have around 60k to trade with, FYI. I will be ok if I lose it all because of my superiority to assholes like yourself. Now go back to fuckin your cousin.
http://www.billcara.com/archives/2007/08/caras_friday_report_aug_9_2007.html#more
great post. black monday?
great post. black monday?
Newequity,
I manage about $12 million in capital, friends, family, and business associates. Maybe that's why I am laughing.
I manage about $12 million in capital, friends, family, and business associates. Maybe that's why I am laughing.
Yeah. Newequity, you're a joke, and you're so dumb you don't even realize it. Not because you trade with $60K. Because you profess that you know everything about everything.
# posted by : 12:01 PM
: 12:01 PM
Oh, sorry I didn't mean to step on your toes big guy. I am laughing because you are busy typing on a message board while your $12 million needs your expertise. I am scared for your family members personally.
No matter what the Fed does, cut or no cut (prolly the latter), they and the ECB and every central bank dufus in the globe is adding liquidity to these markets. That's inflationary no matter what the rates do, and that's a good reason to start getting you some silver and gold, Yukon Cornelius-like.
Physical can never go wrong, unless you have a bad back, and then you need to hire a trusty sherpa to haul it for you. If you want "almost" fizz, then SLV is great, as is GLD and the Canuckistanian fund CEF.
The miners are always more of a gamble, having to operate with humans and capital and such, but I've always liked SLW and GG.
Probably not a bad move into the year end here...
Physical can never go wrong, unless you have a bad back, and then you need to hire a trusty sherpa to haul it for you. If you want "almost" fizz, then SLV is great, as is GLD and the Canuckistanian fund CEF.
The miners are always more of a gamble, having to operate with humans and capital and such, but I've always liked SLW and GG.
Probably not a bad move into the year end here...
Hey! Check it out, fellahs!
My screen is malfunctioning again (must be all that chicken blood)... After the "Nasdaq" and "S&P" headings, the numbers are this weird minty color.
Almost like my grass before the heat wave.
I gotta bring this POS back into Best Buy and get the variable color looked at again....
My screen is malfunctioning again (must be all that chicken blood)... After the "Nasdaq" and "S&P" headings, the numbers are this weird minty color.
Almost like my grass before the heat wave.
I gotta bring this POS back into Best Buy and get the variable color looked at again....
newequity:
"have Cashed out completely with a nice loss and went 100% cash. This is the beginning of the big bear marked by Priv Equity (BX,FIG) going IPO recently. Fuck you all."
Good job you are a genious. Let me know when you decide to go all in so I can sell out.
"have Cashed out completely with a nice loss and went 100% cash. This is the beginning of the big bear marked by Priv Equity (BX,FIG) going IPO recently. Fuck you all."
Good job you are a genious. Let me know when you decide to go all in so I can sell out.
Fading faster than Barry Bonds at a Grand Jury hearing. 2PM-2:30PM will be important to see if the big boys and their TradeBots want to be long over the weekend.
jakegint .. agree 100% on your gold & silver thoughts
unrelated ... I like that little shit newequity for some reason .. hes a funny halibutfucker .. I vote him in as blog messageboard jester mascot
unrelated ... I like that little shit newequity for some reason .. hes a funny halibutfucker .. I vote him in as blog messageboard jester mascot
thanks Bruce...I may have a small trading account but at least I am honest. Also, I have a balanced retirement portfolio with plenty of Gold(GLD) in it and looking to add some more over the next few days.
I have picked up on that - that you do seem honest even if you like to annoy the crap out of the internets ... for whatever reason, I respect your seeming honesty
agreed.. as jake pointed out .. all this pumping of liquidity is bullish for GLD & SLV
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agreed.. as jake pointed out .. all this pumping of liquidity is bullish for GLD & SLV
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