TRADERS ANONYMOUS: Afternoon Delight 4.8.10

Afternoon Delight 4.8.10

It seems, from my vantage point, that BLOGGER goes haywire after 200 comments are reached... I'm trying an experiment here to see if a NEW THREAD solves the problem...

88 comments:

CV said...: Test post #1; April 8, 2010 at 1:40 PM
CV said...: Tiger teeing off NOW...; April 8, 2010 at 1:42 PM
McFearless said...: test?; April 8, 2010 at 1:44 PM
Bruce in Tennessee said...: That's a shame 'cause I posted the easiest way to make a million in three short weeks on the end of the last thread. Now it has been lost for all eternity. Oh, well...

Lefty will repost it later today.; April 8, 2010 at 1:46 PM
CV said...: @bruce

You should have posted the "easiest way to get by 200 comments without your BLOG shutting down"...

That would have had some value!; April 8, 2010 at 1:50 PM
Leftback said...: Screw Tiger. Go Freddie.
A COUPLE of holes and FRED is 3 under.; April 8, 2010 at 1:51 PM
McFearless said...: he (Fred) killed me two weeks ago in fantasy golf.; April 8, 2010 at 1:54 PM
Leftback said...: BLOODY HELL. Another eagle.

Fred has the most amazing smooth athletic swing. Poetry.; April 8, 2010 at 1:55 PM
CV said...: Everyone loves Freddy!; April 8, 2010 at 1:58 PM
McFearless said...: I've always been sort of partial to Jim Furyk and that swing.; April 8, 2010 at 2:07 PM
McFearless said...: Hey just a thought since it was discussed yesterday, did we come up with a plan for when blogger craps out like this?

I've got Dread Cap bookmarked so I'd have no problem there, or Ra's, those seemed like good ideas.; April 8, 2010 at 2:07 PM
DL said...: Yeah, it did seem that the problem started yesterday and today around 200 comments.

This may indeed solve the problem.

(Either that or everyone go away and stop commenting).; April 8, 2010 at 2:13 PM
Leftback said...: Bad info on the PGA web site. Fred at -2, Zach Johnson and..
- Tom Watson - are burning it up !!!; April 8, 2010 at 2:14 PM
Leftback said...: Start a new thread at 150 ?

LB had some pearls of wisdom that were LOST from HUMANITY...!; April 8, 2010 at 2:14 PM
McFearless said...: GS can't seem to bust out above that 180, been stuck there a few hours now.

these sort of statements here seem to often serve as good warnings:

Trichet Says He Doesn't Expect Greece to Default on Debt as Crisis Worsens; April 8, 2010 at 2:19 PM
Leftback said...: Watson a 67. No Bogeys. Phenomenal.

Casey and Westwood scoring well. Bruce will be happy. He loves the English. You can tell.; April 8, 2010 at 2:20 PM
Leftback said...: Trichet Says He Doesn't Expect Greece to Default on Debt as Crisis Worsens

is a form of medieval French, once spoken by Richard Fuld, and

translates as:

Trichet Says He Fully Expects Greece to Default on Debt But Can't Say So as Crisis Worsens Just Like it Did With Lehman Brothers as Banks Pull All Overnight Repos; April 8, 2010 at 2:22 PM
DL said...: So how do we know that Papandreou and his cronies aren’t making a ton of money trading EUR/USD using inside info?; April 8, 2010 at 2:28 PM
CV said...: @all

This seems to solve the problem...

I'm going to do one of two things...

I'll either monitor the posts, and when we get past 150 or so, I'll start preparing another...

OR

I'll just LAUNCH a secondary one regularly around noontime...

Keep the comments within a manageable number...; April 8, 2010 at 2:31 PM
Stavros Papadopolos said...: What are you insinuating about Greeks? Are you suggesting we might be slightly dishonest scofflaws and the WIDE BOYS of Europe?; April 8, 2010 at 2:31 PM
CV said...: @LB

"LB had some pearls of wisdom that were LOST from HUMANITY...!

Maybe they ended up in Germany?; April 8, 2010 at 2:31 PM
DL said...: CV @ 2:31

Also makes for faster loading on a wireless device.; April 8, 2010 at 2:35 PM
CV said...: If someone is blogging here in a wireless device...

They need to GET A LIFE :-); April 8, 2010 at 2:40 PM
DL said...: CV,

If this doesn't fix the problem, I think you should demand a full refund.

Plus interest.; April 8, 2010 at 2:41 PM
Bruce in Tennessee said...: Actually Lefty, I do love the English. And I like them even better when I can understand the language they are speaking...; April 8, 2010 at 2:45 PM
AmenRa said...: From other thread:
Damn you Manny! Now I can't get it out of my head - http://www.youtube.com/watch?v=iWVe3AB8OY8; April 8, 2010 at 2:46 PM
Bruce in Tennessee said...: I suppose you are watching the Masters here:

http://www.masters.com/en_US/console/console.html?ts=1270752133779&video=ac&syn=&db=false&ref=www.masters.com/en_US/index.html&alt=; April 8, 2010 at 2:47 PM
Leftback said...: Liverpool kicking off in a minute... Tiger at Augusta.... Mr Market may slumber into the morning session...; April 8, 2010 at 2:53 PM
Mannwich said...: Ha ha Amen! I love it. Uh oh, I think I can't stop either.; April 8, 2010 at 2:54 PM
Mannwich said...: Wow, those are some sweet outfits, especially the tuxes, Amen.; April 8, 2010 at 2:54 PM
AmenRa said...: S&P A/D 2.5:1
NYSE A/D 2.02:1

Damn...; April 8, 2010 at 2:56 PM
Mannwich said...: Up, Up, and awwaaay, my beautiful, my beautiful ba-lloooooonnnnn!!!

Alright, I gotta get out of here for a bit. Am going loony tunes.; April 8, 2010 at 2:57 PM
AmenRa said...: The 1.786x666.79=1190.89 is back in play (again.; April 8, 2010 at 3:01 PM
McFearless said...: Did any of you see the post over at Calc Risk about BAC and them pushing foreclosures, they are talking about seeing up to 45,000 in a month by december of this year, yet magically they predict that would be the peak.

they seem to have done really well projecting the turns so I trust that (maximum snark); April 8, 2010 at 3:01 PM
Mannwich said...: @ben: I posted that link here yesterday. UFB. Here's another post about increasing distressed sales. Not surprising to anyone here.

http://www.calculatedriskblog.com/2010/04/report-distressed-home-sales-increasing.html; April 8, 2010 at 3:03 PM
Leftback said...: S&P A/D 2.5:1
NYSE A/D 2.02:1

Damn...

TIGER effect. JOHNNY in charge. The Pros are all watching the golf...; April 8, 2010 at 3:03 PM
karen said...: would someone else pls look at the xlf tick at 2:30.. anyway, my posts finally showed on previous thread..

what about this? ROME (Dow Jones)--The Bank of Italy has ordered a halt to further issuance of American Express credit cards in Italy.

The central bank took the action after inspections revealed compliance gaps by the card issuer related to rules covering usury, money-laundering and transparency.

The suspension was an "inevitable step" after the inspections found irregularities, a representative for the Bank of Italy said.; April 8, 2010 at 3:04 PM
Mannwich said...: Distressed sales up to 29% of all sales. Sounds like a healthy real estate market to me.

First American CoreLogic today released its first monthly report on distressed sales activity. The report below indicates that distressed home sales – such as short sales and real estate owned (REO) sales – accounted for 29 percent of all sales in the U.S. in January: the highest level since April 2009. The peak occurred in January 2009 when distressed sales accounted for 32 percent of all sales transactions (Figure 1). After the peak in early 2009, the distressed sale share fell to 23 percent in July, before rising again in late 2009 and continuing into 2010.; April 8, 2010 at 3:04 PM
Mannwich said...: This is just mind boggling. We're not even close to THE bottom in real estate, folks.

Among the largest 25 markets, Riverside, CA, had the largest percentage of distressed sales in January (62 percent), followed closely by Las Vegas (59 percent) and Sacramento (58 percent) (Figure 2). The top REO market was Detroit where the REO share was 48 percent, followed closely by Riverside (47 percent) and Las Vegas (45 percent). San Diego’s short sale share was 19 percent in January, making it the highest ranked short sale market, followed by Sacramento (18 percent) and Oakland (16 percent). Although the top 10 markets for foreclosures are all located in Florida, only two Florida markets, Orlando and Cape Coral, made the top 10 distressed sale list. The most likely reason: Florida is a judicial state where foreclosures process through the courts and take quite a bit longer than in California, Arizona or Nevada, where non‐judicial foreclosures are the norm.; April 8, 2010 at 3:06 PM
McFearless said...: Karen,

I struggle a lot with the AXP business model in an extended bear market like this:

1. Unless you are really using a Platinum card all of the time, why pay the fee, similar argument for Gold. If you have the Centurion card then you don't care about the fees, but those are rare.

2. I've had two terrible tries at working with them in travel services to book vacations. It's not a good experience.

3. Continue to see amex accepted at less and less stores due to the extra haircut they take versus others. Their contention has always been that id didn't matter because Amex cardholders have tended to be larger spenders but I'm not sure that's as compelling as it used to be.

There are many more things to mention, but I think that current business model warrants a lot of questions if you want to be a "long term investor" in Amex.; April 8, 2010 at 3:11 PM
McFearless said...: I'd also mention that I'm pretty sure Amex charges the highest rates on average when you a carry a balance on gold or platinum vs. other cards that are comparable from MasterCard, etc.; April 8, 2010 at 3:13 PM
karen said...: you gotta check the last two http://www.bubbleinfo.com/ posts.; April 8, 2010 at 3:17 PM
Nic said...: Greece seeks to curb bets against its debt:
http://www.reuters.com/article/idUSLDE63729N20100408; April 8, 2010 at 3:19 PM
Nic said...: Thanks K; April 8, 2010 at 3:20 PM
McFearless said...: Hmm, who knew when Cage did Gone in 60 Seconds that it'd be the same length of time the unsuccessful auction on his home lasted.

I love how they describe the decor, lol.; April 8, 2010 at 3:21 PM
AmenRa said...: What did I miss? Why is AMZN +4.6%?; April 8, 2010 at 3:21 PM
McFearless said...: Nic,

sounds a little like when the banned shorts on the banks yes?

Remember how that worked out.

Greece will default.; April 8, 2010 at 3:22 PM
McFearless said...: Ra,

i heard a rumor that the p/e was too low on it.; April 8, 2010 at 3:23 PM
AmenRa said...: Found it: Amazon to sell Kindle at Target; April 8, 2010 at 3:24 PM
Ironworker said...: @AR -Or why is EK +17%?; April 8, 2010 at 3:24 PM
AmenRa said...: McF

You made me look. p/e 69.12 HAHAHA; April 8, 2010 at 3:25 PM
karen said...: But Vancouver is different remember.. lots of foreign money.. cash buyers.. LOL, that's what they were saying in so cal a few years ago..; April 8, 2010 at 3:28 PM
AmenRa said...: Ironworker

I can't find any news on EK that would explain their rise.; April 8, 2010 at 3:28 PM
Leftback said...: Sky rockets in flight...
AFTERNOON delight...

Ever had any afternoon delight, Karen?; April 8, 2010 at 3:30 PM
AmenRa said...: XRT (weekly 3LB info)
trend=up
mid= 40.94
rev= 40.19

Reversed up week ending 2/19/10 and started trending week ending 3/5/10.

GTFOOH; April 8, 2010 at 3:35 PM
spokesperson for Karen said...: Leftback,

Karen is unavailable for comment at this time.; April 8, 2010 at 3:36 PM
karen said...: I can not believe ISRG is flirting $340.. total insanity..

looking at the price % gainers and dollar gainers across the spectrum is, is, is...; April 8, 2010 at 3:36 PM
AmenRa said...: True pain is looking at a monthly chart of AIG and seeing how far it fell. Never got to zero though (snark).; April 8, 2010 at 3:41 PM
Hank Greenberg said...: There's a reason AIG didn't go to zero... I paid people off.; April 8, 2010 at 3:42 PM
karen said...: on the previous thread, i posted a RobotTrader link from April 6..

http://www.zerohedge.com/article/battling-brains-pimco-must-be-sweating-bullets; April 8, 2010 at 3:43 PM
Leftback said...: CV: Liverpool 2 Benfica 0. But it's still early...; April 8, 2010 at 3:49 PM
karen said...: just received an email from a cosmetic surgeon of whom I am not a patient but consulted with once and never returned..

Dear family of patients,

Look years younger with little down time - and save 50% (see below).
....
Instead of $3500-$4,000, I am charging my existing family of patients $1,750 for a full facial procedure. I think this is fair, and it is also my way of thanking you all for your confidence in placing yourselves in my care.; April 8, 2010 at 4:08 PM
CV said...: @karen

His first name isn't Pete, and his last name isn't the compass direction of where Santa Claus lives is it?; April 8, 2010 at 4:20 PM
karen said...: UFB XLF.. the only thing i can say is volume was lower than yesterday..; April 8, 2010 at 4:20 PM
Leftback said...: The Bond Report 4.8.10

An unexciting day as traders snuck out early or just watched the Masters on the trading desk. A little bit of bargain hunting in HY, and a decent 30y auction with an extremely strong direct bid. Who are the direct bidders? Well, anyone who has MBS exposure and wants to be hedged against widening spreads, that's who.

Corpies: LQD -0.19%; AGG -0.10%; JNK 0.28%; HYG 0.17%;
Govies: TLT 0.05%; IEI -0.06%; TIP -0.10%

We did nothing. No point in hedging until the Greek nonsense has either broken out into a rampant contagion or been kicked down the road a few weeks again. There should be a bid under USTs here.; April 8, 2010 at 4:22 PM
karen said...: CV, what in the world are you talking about?! The cosmetic surgeon? His last name is Weiss..; April 8, 2010 at 4:23 PM
Pierce Brosnan said...: CV,

ROTFLMAO.....; April 8, 2010 at 4:27 PM
mcHAPPY said...: Karen it is nice to know there is still innocence left in southern california :); April 8, 2010 at 4:27 PM
CV said...: As in...

"You'd better wise up... Janet Weiss" (Rocky Horror)... :-); April 8, 2010 at 4:28 PM
Leftback said...: Liverpool up 3-0. Come on, you Reds.; April 8, 2010 at 4:29 PM
Leftback said...: CV, by the way. YELLOW CARD.; April 8, 2010 at 4:33 PM
karen said...: okay, okay, i looked him up and get it now !! glad you could have a laugh on me.; April 8, 2010 at 4:34 PM
karen said...: going to the beach in a huff. later all.; April 8, 2010 at 4:34 PM
DL said...: Don't be huffy.; April 8, 2010 at 4:38 PM
Anonymous said...: DL,

I think she meant the bike brand?

b22/mcfearless; April 8, 2010 at 4:40 PM
CV said...: @LB

That was not meritorious of a yellow card...

Cv was only illustrating the ABSURDITY of marketing efforts by a cosmetic surgeon, actually trumps the ABSURDITY of the service they provide...

It seemed like a VERY APPROPRIATE metaphor...; April 8, 2010 at 4:41 PM
CV said...: To me anyway :-); April 8, 2010 at 4:42 PM
Leftback said...: 4-1 Liverpool.

Torres... Goodnight....!; April 8, 2010 at 4:47 PM
CV said...: Folks,

I'm not giving up on RELEASING THE KRACKEN...

In my thread post, I even said that 1190 was possible (and I still have 1194 in mind as well)...

However... going back to the charts I put up yesterday, (52,51,54 day rallies)... We now have 43 days in the books on the present one...

We're also 21 days from my May "4th-5th" dates...

So... What do I care if we do a 21 day correction, or a 13 day correction (starting next week)...

The hardest part, FOR ME, isn't the incessant rally... Instead, it's trying to be funny until we have something REAL to talk about...

"With so much drama in the LBC it's kinda hard bein' Snoop D-O DoubleG, but I somehow, someway I keep coming up with funky @ass s*** like every single day!"; April 8, 2010 at 4:50 PM
2small2bail said...: "D O double G Y D O double G ya' see
Showin' much flex when it's time to wreck a mic "

Anecdotes from the (203) this week ...

Our mailman handed me my mail with broker statement on top and proceeded to tell me about him and his son trading in and out of 1k share blocks of ETFC, C and BAC over the past few months ... so. there's your volume, mailmen

Brought car in for oil change at the dealership and the gentleman who gave me a ride to work said ... "things really picked up in March, cars are moving now and they started making them again... it was dead there for a few months"; April 8, 2010 at 5:27 PM
AmenRa said...: Anyone notice that M2 fell by 11 billion and consumer credit also fell 11 billion? Are they related somehow?; April 8, 2010 at 5:42 PM
McFearless said...: ra,

there is no relation as far as I know, two different sides of the ledger.; April 8, 2010 at 5:45 PM
Anonymous said...: CV...Is this you, flame-baiting on another site?

"I ONLY care about being RIGHT. I dont care about impressing you guys. I dont care about being unique, different, interesting (but wrong).

I am in the money management business. There is nothing else — except trying to be consistently and diversely CORRECT (especially in a way that accounts for reward/risk).

A few months back, I was in a meeting with the co-head of one of the top 5 hedge funds in the world. We spent an hour going over my trading history, pnl, and approach. My perf record has been good enough to get these types of meetings.

Then he says, “How come its not all priced in?” “How come this alpha exists?” So, this is a frustrating question bc I have a long-term perf record of >25% annual before fees. My wide peer group also has been successful around me, so I dont worry too much about “Why”. And then… at this point in the meeting I didnt really think either of us wanted to do a academic symposium on “alpha” although I think I have some thesis-worthy ideas… so I said — “You want my simple first answer?… People DONT WORK HARD.”

Even most people at top $B+ hedge funds with multi-million $ annual paychecks. And certainly most career “analysts” at some second rate mutual fund or pension fund. They just arent that interested in working hard. Just want to mail-in some platitudes about how “we have $100T in unfunded liabilities”… without understanding what they are actually saying. Whether or not its “right”.

CEOs, Senators, and now “Call me Ahab”. He says, nobody cares “if you’re right”. They rather keep spouting non-sense that “care about being right”.

But maybe I am “like a child”… I dont plan on changing. It seems to be working."; April 8, 2010 at 5:51 PM
CV said...: @Anon

That sure isn't me...

If it SOUNDS like me I'd better change my literary style :-)...

CV is more likely to say things like "Release the Kracken"

My IQ isn't high enough to pen something like you just printed :-); April 8, 2010 at 5:59 PM
McFearless said...: where was that comment posted? And I don't get the part about Ahab?

In any event, def. doesn't sound like something CV would say imo.

Maybe that cognos dude?; April 8, 2010 at 6:13 PM
Anonymous said...: Love your style! Eclectic genius!May even be on the RIGHT side of the IQ curve:-)

Why leave your two telltale fingerprints if you were not waiting to be outed?
Please tell me that Harry
Wanger is BR and not
you!; April 8, 2010 at 6:27 PM
CV said...: @anon

Actually, in your (6:27), I went back and studied the post... I see your point... The telltale signs...

#1 CAPS LOCK on words
#2 ... (3 dot endings to sentences)

UNCANNY... :-)

I promise you it wasn't me though...

I'm pondering, however, the idea that CV hasn't created an entire literary style in the BLOGOSPHERE...

OK that's enough pondering

NEW THREAD UP
Amens WRAP & LB's bond, (James Bond) report; April 8, 2010 at 6:37 PM
Anonymous said...: Your right.Could have been almost anybody! Your way too smart to write tripe like that anyway.; April 8, 2010 at 6:52 PM

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Afternoon Delight 4.8.10

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