Morning Audibles - Knock Knock

I got a kick out of this post last night...


AmenRa said...

Knock. Knock.
Wallst#1: Who is it?
Would you like to buy some cookies?
Wallst#1: Sure. How much?
Let me in and I'll show you the price list.
Wallst#2 (looking through peephole): Don't open the door! That's K-A-T-H-E-R-I-N-E!


Now I don't want to be BE a jerk and get overly carried away by the KNEE JERK reaction to the yen buying news... There are obviously more things going on besides yen buying... There's, like, THE ELECTIONS... Right? The most powerful force in the universe... The only thing in the world capable of taming flying sharks... And that may end up reversing the tide backwards again...



So while you're sittin' there by the fireplace, drinkin cocoa on your BEAR SKIN rug... And you hear a knock on the door (ding dong, who is it?)... Ya just NEVER KNOW...


185 comments:

McFearless said...

well well, an interesting development in DE this morning, we had a Tea Party candidate win the Republican primary here last night. She took down Mike Castle. Her ads around here were really heavy on Castle's votes, he voted for health care, the bailouts, stimulus, etc, he's got a long history in DE, been in politics for a long long time. I heard at least 10 interviews yesterday from people at the polls and this seemed to be what was mentioned most, his voting record and "change", yesterday there were all kinds of people outside wherever I went there were small crowds of people off the streets holding signs for Odonnell, this is going to be one interesting election:

http://news.yahoo.com/s/yblog_upshot/20100915/el_yblog_upshot/tea-party-victory-endangers-gops-goal-of-retaking-the-senate

CV said...

@mcF

INTRADE has a 73% chance of the GOP taking over the House after the elections...

http://www.intrade.com/

spoonman said...

how 'bout that dollar? Little f*&%er...

call me ahab said...

b22-

just read that- on the upstart Tea Party nominee O'Donnell taking down the GOP's choice-

intriguing stuff-

here's the deal- if you are a moderate republican- what are you really?

Tea Party appears to lean heavy libertarian

AmenRa said...

Gold hasn't sold off much. Any word on what hedge fund was caught the wrong way on the yen?

call me ahab said...

. . . but there a bunch of racists-

that's what the news says- so it must be true

karen said...

good morning!! Funny, CV, funny.. but more on that CBN network clip you shared yesterday.. it "is pat robinson's network and it makes trinity broadcasting network look like a televised version of the new york times."

This was cute: On the January 1, 2009, broadcast of The 700 Club, Robertson said, "If I'm hearing [God] right, gold will go to about $1900 dollars an ounce and oil to $300 a barrel." He also suggested that Americans would broadly accept socialism. Despite these predictions, he also said that economically, "things are getting ready to turn around."

bob said...

http://www.nydailynews.com/ny_local/2010/09/14/2010-09-14_tea_partybacked_carl_paladino_wins_gop_governor_primary_setting_up_showdown_with.html

Well, this guy will say anything. Look up some of his past ideas. Cuomo is still going to walk into the job. If nothing else it should be entertaining now.

McFearless said...

ahab,

yeah, the more I read tea party comments the more it seems to me that it's hardly GOP cast-offs that have found their way in there, there are dems that have flipped to the tea party as well.

In any event, one of the major political parties is likely to be gone within 10 years, or we have a third that is already emerging that will command much more attention moving forward.

DE is a small state, so this doesn't mean much just yet, but given who won, and who she beat, I think it's an important social development.

McFearless said...

"If I'm hearing [God] right, gold will go to about $1900 dollars an ounce and oil to $300 a barrel."

Um, I do not claim to be a biblical scholar, but I'm fairly certain there are versus within the Bible that speak directly against this kind of crap right here.

I wonder how many poor suckers he gets with this kind of talking....probably tons.

call me ahab said...

last post- just ain't right how I done did that- should read:

"they're" not "there"

bob said...

Robertson had a thing going about 5 years ago (one hour infomercials) where for $3,000 you could send a Russian Jewish back to Israel, in order to fulfill prophecy so that the "end of times" may come about.

call me ahab said...

Robertson can control the path of Hurricane's- he's got God himself in his back pocket

McFearless said...

here come the job cuts rolling in again from AZN, one client already let me know today she's getting cut.

call me ahab said...

b22-

yeah I find the tea party interesting- but- man the bad press-

what gives there?

I guess everyone must love the status quo (in the media that is)

I-Man said...

http://www.reuters.com/article/idUSTRE68D4LX20100914

"Exclusive: SEC probing "spikey" U.S. quote traffic in markets"


Excerpt:

""What they (the SEC) are trying to do is figure out how the markets work first and whether it is manipulative,"

.
.
.

Whether its manipulative???

CMON MAN!!!

mcHAPPY said...

Did anyone ever confirm if the rumour regarding job numbers last week was true? The rumour was that due to Labour Day (ironic isn't it? :P) 6-9 states (including Califor-NI-A) did not report their jobless claims?

bob said...

MCH, I read from some reliable sources that it was true. I can't remember where now.

I-Man said...

An even bigger CMON MAN! is the fact that the "regulator" doesnt understand how markets work...

But we'll overlook that one in the spirit of decency...

Good luck today I-veryone!

McFearless said...

"in order to fulfill prophecy so that the "end of times" may come about"

now that's funny, as if there is any indication in the Bible that God himself actually needed help ushering in the "end times", and needed Pat Robertson's help no less...bwahahaha.

I also heard PR could squat 800 lbs....

this is sort of happening on it's own anyway, you are seeing more and more of this:

http://www.sanfranciscosentinel.com/?p=77997

I also notice when I speak with a lot of younger jews they seem more than ever very excited about taking advantage of birth rite.

karen said...

mcHAPPY, It wasn't a rumour.. it was widely reported. I remember posting the bloomberg piece myself..

AmenRa said...

mcHAPPY

Since last week had a holiday expect claims 2b BTE. The games continue.

karen said...

PIMCO

Crescenzi: There is debt all around in the developed world and these debts will stick with us for several years.
4 minutes ago via web

McFearless said...

The SEC, still trying to figure out how these hi-tech markets work, lol.

Remember when Mary Shapiro got in there and how people talked about how she was "tough" and the "right person for the job".

Clueless would be more like it, iow, a perfect fit!

72bat said...

mchappy -
"6-9 states (including Califor-NI-A) did not report their jobless claims?"
iirc, some of the those states provided estimates to bls and the bls made estimates for those that did not provide their own

McFearless said...

McHappy,

I was under the impression that they estimated the claims numbers, not that they didn't report at all. Either way, that number is basically made up every week.

From another book I'd highly rec to anyone, The Numbers Game/Blastland and Dilnot

"This is counting in the real world. It is not a science, it is not precise - in some ways it is almost, with respect to those who do it, absurd. Get down to the grit of the way data is gathered, and you often find something slightly diturbing: human mess and muddle, luck and judgment, and always a margin of error in gathering only a small slice of the true total, from which hopeful sample we simply extrapolate"

AmenRa said...

Markets acting like they don't want to confirm the evening star formations.

McFearless said...

it would seem nobody is in control of this market bulls or bears at the moment, which I figure is fitting as we sit right here on the 50% retrace of the 07-09 collapse....if you take intraday highs and lows I have the 50% as 1,121.44.

this is market psychology at its phinest.

McFearless said...

my waiver priority sucked this week, had a bid in on Jackson from GB, that would have been a nice pickup, I tried to get Clayton from STL as well.

karen said...

There are so many H&Ss in crude that i think i'm seeing quadruple.. this market has shaken me senseless, seriously.

CV said...

@Amen

"Any word on what hedge fund was caught the wrong way on the yen?"

---

No hedge fund... MINERS Hedge... (AngloGold)... LOL

McFearless said...

if we have broken out of a running triangle then this will be a good case study for orthodox wave vs. neo-wave as Neely has a little different expectation with running T's than does EWI.

another test up there today around yesterdays highs would luck real bearish to me.

McFearless said...

http://www.nytimes.com/2010/09/04/your-money/04money.html?_r=1&pagewanted=1

McFearless said...

Buffetts comments about the double dip are a waste of time, I'd like to key on his claim that "banks are about to boost lending"

mcHAPPY said...

Thanks for the clarifications everyone on BLS.

mcHAPPY said...

Ben 10:44

When Bank of America is looking for tens of billions of assets to sell, it does not sound to me like they are ready to lend - lol.

McFearless said...

@AT,

What do you think of the idea of an A wave Diametric that started here in Sept?

karen said...

iuubob

@SellPuts the nonsense won't go on forever, that's the only thing that keeps me sane
less than 5 seconds ago via TweetDeck in reply to SellPuts

SellPuts
2nd day in a row we have opened down and rocket up 10 handles. 12th day we are green in a row..

McFearless said...

McHappy,

how dare you disagree with.....the oracle.

karen said...

so much for the dollar.. upp back at 23.58..

I-Man said...

Piece of shit dollar...

CV said...

@karen

I'm going to say this once, and only once...

It's because, actually - I'm kind of PISSED OFF at all of you people right now...

All I did was post a link to a VIDEO CLIP yesterday... It's not like I used it as a thread topic, elaborated on it, offered commentary, dialogue... NOTHING... NADA... ZILCH...

In fact, the only motivation to post the link in the first place was in response to a comment about the French & burkas... I'd seen the clip before, and I attached it as a response without really thinking much about it...

Now I wake up this morning and see about 8 zillion comments about Pat Robinson, and this & that... As if CV belongs to some kind of religious cult...

For a bunch of level headed traders, it sure seems that some of you are quick to jump on emotional bandwagons...

---

I should stop there, but since I'm not going to comment on this anymore, I might as well say everything now... I'm going to further elaborate on what's REALLY at issue here...

AT ISSUE... Is how "foolish" Americans are in trying to wrap themselves inside nice little blankets they call REASON & TOLERANCE...

People do that because if they DON'T appear to be REASONABLE & TOLERANT, then they won't be accepted into circles and cocktail parties populated by "so called" REASONABLE & TOLERANT folks...

Case in point? We end up electing a Barack Obama as President... It's the ULTIMATE expression and manifestation of an outcome based on HOPE...

Nobody knew anything about him, but hey, since everyone else seemed to like him, and that momentum grew, and it then became "cult-ish", it was hard to defend yourself if you remained skeptical about what would ensue (in a PRACTICAL sense)...

Almost 2 years later... We now have out answer to that (or at least a better definition)...

This case with Islam is largely the same... DON'T GET CONFUSED WITH WHAT I'M ABOUT TO SAY HERE...

I'm NOT talking religion here... I'm talking PRACTICE...

Muslims operate under Sharira Law... Loosely defined, SL isn't really a religion, but an all encompassing doctrine (which includes politics, governments, and codes of conduct)...

It was the intention of the founding fathers of the United States of America to SEPARATE matters of church and state... To allow people to worship freely, and to not pass any laws thereto...

That is the EXACT opposite from Sharia Law... In fact, it goes much further... It states that the eventual goal should be to take over ALL governments until Sharia Law is ubiquitous...

Idiot Americans (who are blinded by their own desire to be generous and reasonable, so they will get invited to parties), know nothing about Sharia Law, and therefore apply their own set of beliefs as to what they HOPE they think of it... Kind of like electing Obama... They were PROJECTING their own HOPES on someone who they thought might deliver them something...

So Americans think that there are TWO types of Muslims... The "terrorist" kind, and the "peaceful" kind... Americans think, through TOLERANCE we can get a nation full of these to meld right in to our society...

It won't work that way...

CV said...

(part 2)

Because as soon as the critical mass is achieved (yes - they will be VOTED right into political offices), eventually we will have Sharia Law in America...

It'll take awhile... Probably won't happen within my lifetime, but the seeds have already been planted...

It's already happening in Europe (and frankly, here too, with the mosque at the WTC location)...

So it doesn't matter if Pat Robinson, or the Unabomber, of David Koresh, or Obama himself puts out a video of Paris streets crammed to the gills with people on their knees on public streets during prayer activities... What IS important is that you see that it is happening...

Unless you think that was "staged" or something... Sure - It's all an elaborate HOAX staged in the back lots of a Hollywood movie studio...

On a similar subject... I'm sure all those RIOTS in the Greek streets protesting pension "austerity" were STAGED as well...

Or if they'd only been shown on CNN it would have been a liberal "spin" job... or the opposite if it had been on FOX news...

Get your heads out of the sand people... Look at images and see them for what they are (and ignore the source from which they're being reported)...

You might have all noticed... In preparing daily blog threads, CV uses HEAVY USE of "imagery" (music videos, fotos, cartoons, etc.)... I'll make a few editorial comments from time to time because naturally I have an opinion on things...

But you'd better take a closer look at other things that come flying at you via YOU TUBE, or your BROWSER HOMEPAGE, the NEW YORK TIMES, or FOX NEWS...

While each IS going to try and sway you towards an agenda, it doesn't mean that the STORY (in the middle) isn't worth looking at...

And good luck to all your sons and daughters (might as well be getting them fitted for burkas and carpets as we speak)...

karen said...

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aWoxk0NV0Ahg

Sept. 15 (Bloomberg) -- The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.

Shadow inventory -- the supply of homes in default or foreclosure that may be offered for sale -- is preventing prices from bottoming after a 28 percent plunge from 2006, ...

Jennifer said...

Good morning all! A question -- I'm looking at the SPY daily chart and comparing it to the $SPX daily chart. On the SPX, the last 3 peaks are each slightly lower than the one before (1131.23, 1129.24, and 1127.36) but on SPY that's not true (113.20, 113.18, 113.29). So -- follow the index? I mostly trade SPY options though, so this is an annoying situation.

Jennifer said...

In other words, the trendline on the SPX hourly chart that I've been watching for 9 days got a hole poked in it this morning while I was at the grocery store.

McFearless said...

p/c was pretty heavy on the put side this morning, could have something to do with the spike, I'm sure a lot of positioning is going on...it's expy week after all, and a tripler.

McFearless said...

the dollar sucks, I'm out of that trade right now, if it's meant to go down, no stupid intervention is going to stop it, but we got a nice knee jerk reaction for a little bit last night eh?

McFearless said...

CV,

I didn't even see the video or the link yesterday, don't even know what you are talking about, but to clarify I was responding to discussion early on pat robertson's attempts fullfill prophecy which will usher in the end times, which I find to be thinly disguised robbery. I also find it curious that a self proclaimed "man of God" is concerned with such worldly matters as the price of a barrerl of oil or an ounce of gold.

anyway, all i really want to know is, do you think it might be a good idea to get some silver coins? I've been thinking about it lately, seems like it might be a good idea. Better yet, how about a silver burka?

;-)

Jennifer said...

CV -- I knew that parochial education would be good for something! They'll have to get them out of their plaid jumpers and navy knee highs before they can get them into a burka. Seriously though, The Market Ticker had a great piece on this whole issue some time in the last coupld of days.

karen said...

CV, by pointing out the origin of that fascinating video, I meant no criticism or accusation toward you. I am a questioning person by nature.. so the source of the video was important..

We all often go off on a tangent.. especially on this tape.. no offense or ridicule was directed at you.. sorry you took it that way!

Nic said...

Morning!!

McFearless - Politico have a good piece on O'Donnell - the video on page 1 is priceless:
http://www.politico.com/news/stories/0910/42209.html

karen said...

On Wednesday 15th September 2010, @mrtopstep said:

RT @Eubiquitous: $SPX #Futures Notes: MAY 19th RANGE 1122.80 thru 1099 so we are at the top of 4 month range HIGHS @ 1123 9/15/10..FLASH CRASH LEDGE 1138

McFearless said...

"The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market."


nope, banks are about to boost lending, buffett said so....oracle I tell you.

AmenRa said...

The 50% retrace at 1121.44 and the current weekly 3LB high (1121.64) are weighing heavily on the market. Every move down has been met with massive buying trying to prevent the inevitable. It seems (to me) that the bulls just want to hold the market up for opex.

McFearless said...

no doubt Ra, that big 50% retrace is the key right now, I sort of get a kick out of us sitting right there with all the buzz from bulls or bears but nobody really confident in anything, old Mr. Fibo., I'll wait till the thing breaks and do my best to trade accordingly.

CV said...

@Jennifer

The "Cliffs Notes" version of CV's rant...

- CV is LONG tolerance
- CV is NEUTRAL religion (let each worship as they wish)
- CV is SHORT tolerance in the name of smoothing over ignorance

If anybody has read ANYTHING I've said over the past months & years, they should know this...

CV "hates" politics & politicians... Then what do I rant about them so much?... Naturally in an attempt to wake people up about the "magic spell" they've been put under & hijacked by (from watching too much TV)...

So if it seems that I'm "warning" everybody about Muslims, it has nothing to go with GOD... it has everything to do with the idea that Americans don't realize that Islam IS a religion based on politics...

So naturally I'm leery about any new POLITICAL "system" that's creeping it's way into democracy...

karen said...

Nic.. i am completely flabberghasted at that O'Donnell woman now.. until your post i had just ignored her..

Anonymous said...

http://www.youtube.com/watch?v=RVVyEqLlQAc

CV said...

@McF

I was the one who slid in and picked up Brandon Jackson... LOL

McFearless said...

yeah I figured you would be right in there, in fact, when I saw you were 5 on waivers and I was 9 I thought when I put the order in

"effing CV is going to take him"

oh well, i still think I'm going to win this week, coppies team is kind of weak.

AmenRa said...

I'm still laughing at the push at 11:55 sending the SPX over its 50% retrace (5-min chart).

McFearless said...

I don't even need a RB at all, but I wanted him, that was a nice pick up there, I think he'll play well, we'll see.

CV said...

@McF

Oh no wait... That was FRANCHIZE... Grrrrr...

CV said...

@Amen (12:02)

U know it's really funny... I thought it would be very hard to BEARS to get in at any tops... But it seems like the market is INVITING 'em RIGHT in...

Not saying THIS is the top... But it sure feels like a pullback is looming...

AmenRa said...

DXY putting up at fight at 81.44 (50% retrace). Daily candle turning into a bullish harami (esp since todays body is enclosed within yesterdays candle body).

AmenRa said...

edit: not just todays body but the highs and lows

CV said...

@McF

I'm not convinced he'll be an ALL SEASON kind of guy...

He had his chances a few years ago and couldn't even keep his job against DESEAN WYNN...

We'll see... Chances are, Jackson will go down with an injury himself sooner or later...

Too bad the 49ers already got Brian Westbrook...

CV said...

NEW SURVIVOR CAPITAL Slogan

above

karen said...

This is a very fun read! Why C is a buy..

http://www.thestockmasters.com/citi-buy-nyse-c-09152010

AmenRa said...

CV

LMAO

CV said...

@Amen

Wait... I changed it again...

NEW-ER-ER SC slogan

I-Man said...

Infidel Capital

CV said...

@I-Man

I thought "In-Fidels" were members of Castro's security loop...

Shows how much I know...

bob said...

I always liked 87.2% of all statistics are made up on the spot.

McFearless said...

re: Citi,

Mike Mayo seems to think that C is going to go out of business within 12 months.

Pass the Mayo.

McFearless said...

new site slogan is awesome btw.

CV said...

@bob

Hmmm... I'll have to consider that...

But I DO KNOW that since July 1st, the S&P has rallied 12% to it's highest subsequent level and hasn't YET gotten beyond...

(same as 1987), in same time period...

CV said...

Pass the Mayo...

I'll have a Meredith Whitney on rye...

McFearless said...

lol, I just watched that video in Nic's link about CO, politics is such a joke, bringing up some 1980's video where she talks about masturbation....real crucial issues here.

she's a little to palinesque for me, and besides, my plan is to vote for those I like the least so they are in office when the shtf, so chris coons is likely to get my vote.

call me ahab said...

the slogan- akin to:

"Baseball is 90% mental -- the other half is physical."

hey - regarding Jackson- I see Franchize as the owner

karen said...

http://dealbook.blogs.nytimes.com/2010/09/15/u-s-economy-is-blah-soros-says/?src=twt&twt=nytimesdealbook

call me ahab said...

just watched that prayer video- pretty wild-

I wonder why France puts up with it- being a secular society and all-

political correctness gone wild- same as the feminist leaning women being silent on Islam- seems to me they would be up in arms about its discriminating ways

McFearless said...

hmmm, feminists, ooh let me play along with everyone on this one,

Wasn't the feminist movement started by men? In particular, men involved in the Fed and the government as a way to increase tax revenues.

Aaron Russo claimed this is what Nick Rockefeller told him, that "they" created the whole women's movement.

there, have at it.

CV said...

France? Secular?

Last I checked, historically they're just "cheese eating surrender monkeys"...

Perfect place to start, right?

McFearless said...

lol @ Soros, if only the world wasn't pulling back on stimulus spending so soon we probably wouldn't be so.... blah.

it's just that simple folks.

ah, the arrogance of all with any name large enough that they get to speak publicly about markets and the economy, they are all the same, every single one of them, they all have the right solution that only they came up with, all of them involving the magical stoppage of a 50+ year debt binge and the idea that a bubble can be unwound nice and orderly like.

McFearless said...

and I'd also have to ask Soros, what is the Euro, really, without Germany?

karen said...

http://mrtopstep.com/2010/09/15/bullish-pattern-ascending-triangle/

CV said...

Liberals LOVE France though...

That's the model... Eh SCREW it if every few decades the Romans, or Nazis run roughshod over you, put their boot on your throat, and have their way with your women...

Anything to avoid a fight, right?

McFearless said...

I swear the whole world is high on one giant crack rock.

now today I hear that Lehman made a "manageable crisis" into a full-blown panic.

eff it, I don't even have a comment anymore.

call me ahab said...

my guess is that those prayer "areas" are deep in parts of Paris where other Parisians don't tread-

aren't there towns in the Detroit are over-run by Muslims?

b22- haven't heard that re feminism- but have read (Super Freakonomics)- that due to the availability of free sex because of the sexual revolution- wages for prostitutes have plummeted- where in the early 1900's a high class prostitute were making $400 a week- a staggering sum in those days-

where was a young un-married man to go?

CV said...

"a bubble can be unwound nice and orderly like"

Reminds me of DL...

Where's he been... Probably enjoying his profits on this glorious ORDERLY unwind...

McFearless said...

top step is really doing a very nice job in swtiching it up between tim and danny since they have a little bit different outlooks, the interpretation of triangles and what they "mean" are everywhere now, people know how they want to bet, just waiting for this week to be over I think.

CV said...

"what is the Euro, really, without Germany?"

THE EURO is your grandpa "co-signing" that loan on the Porsche for you while you're still a sophomore in college...

CV said...

That usually ends well, right?

call me ahab said...

and my impression of Islam-

I'll throw this out there- I don't like religion- period-

especially oppressive dogmatic ones

McFearless said...

here ya go ahab, it's in this video somewhere:

http://www.youtube.com/watch?v=7da-PuTYOHo

call me ahab said...

. . .and what of Jupiter and Apollo?

how come they're no good anymore- I wonder what they did wrong to get kicked to the curb?

call me ahab said...

b22-

I'll check it out this evening- gotta roll for now-

is everyone ready for some RuPaul? (apparently Them Thugs were- lol)

CV said...

@McF

Well I didn't see a CBN, or DEBKA tag on that video...

So it must have some validity...

CV said...

@ahab

Last I heard, "Jupiter" was doing OPEN MIC night at the "Apollo"...

I'll get back to you on that...

McFearless said...

ahab,

Apollo never really got kicked to the curb from my view, people might not realize but they still honor the sun god in many ways today, take for example the ideas behind many natural or herbal healing methods being practiced currently, or more directly something like pagan sun worship.

there will always be some sort of worship of the Sun as long as man is around, goes as far back as Ra, and likely much further.

I-Man said...

Hey, what happened to Manny? Havent seen him since I got back...

karen said...

Egyptian culture has six thousand years of recorded history.

CV said...

They're doing better than Gulf fish then...

http://news.yahoo.com/s/yblog_upshot/20100914/od_yblog_upshot/massive-fish-kill-reported-in-louisiana

CV said...

Manny is hanging around with the PINK THINK TANK...

CV said...

"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds."

- Samuel Adams

McFearless said...

no doubt karen, and we certainly kept it going here in the states, look at some of the monuments in DC, heck, just look at some of our city names, like Memphis.

72bat said...

ahab -
in his novel "american gods" neil gaimin has a great take on your question. when peoples migrate their gods go with them, as it is the people's belief in them that makes them real and gives them substance. when various peoples came to america and succeeding gerations became more and more secularized, their gods lost their reality and substance, becoming mere shadows on the landscape, bit players (rosencrantz & guidenstern) in a drama that has gone beyond their usefulness.

72bat said...

gerations = generations

72bat said...

oops - forgot to include the point of gaimin's thesis:
"The central precept of the novel is that gods and mythological creatures exist because people believe in them. Immigrants to the United States brought with them dwarves, elves, leprechauns, and other spirits and gods. However, the power of these mythological beings has diminished as people's beliefs wane. New gods have arisen, reflecting America's obsessions with media, celebrity, technology, and illegal drugs, among others."

CV said...

@McF

Even the obelisk that still stands in Vatican Square was originally from Egypt...

CV said...

@72

That was a frigging GREAT book "American Gods"...

I'm glad you reminded me of that...

karen said...

http://www.marketwatch.com/story/10-reasons-to-buy-a-home-2010-09-15

read the comment..

CV said...

...of course, because of the central precept...

they ought to make it into a movie - lol

karen said...

having a brain lapse.. what is the retail index?

McFearless said...

"New gods have arisen, reflecting America's obsessions with media, celebrity, technology, and illegal drugs, among others."

oh how true is that! look how people worship the Fed, which are modern day celebrities in so many ways, the all powerful and ruling Fed that impose their will on Earth. How many times have you heard Buffett or someone else utter the phrase "I have faith in the Fed"

faith: http://www.google.com/search?hl=en&defl=en&q=define:faith&sa=X&ei=-xKRTM3bM8bdngfo57i0DA&ved=0CBIQkAE

if you carefully read peoples comments on them you'll find them to be quite similar to those that speak about gods within various religions, gods that can do things that no mere human has been able to ever accomplish. The Fed even performs just like God since they, "work in mysterious ways".

another new religion that combinies all of the above (media, celebrity, technology, illegal drugs, etc) thats grown since I've been a kid is the "believe in yourself" doctrine.

I could easily draw comparisons between other religions and the phrases that are commonplace within the believe in yourself congregation, lines such as

the power of positive thinking
whatever the mind expects, it finds
be in touch with your feelings
know yourself
awaken the wisdom and power withing yourself

while you can find reference to positive thinking in christian religion and some of those other phrases, the difference is that religion is anchored to a god, in our new age, we encourage people to forget god and worship themselves.

CV said...

@72 (or anyone interested)

I located a FREE COPY of "American Gods"...

A great novel...

http://www.harpercollins.com/browseinside/index.aspx?isbn13=9780060558123&WT.mc_id=author_AmerGods_FullAccess_022208

spoonman said...

"in our new age, we encourage people to forget god and worship themselves."

Took the words right out of my mouth. Can't get drawn into a big discussion, as I'm at work, but I think that's pretty spot on. The problem is, everybody worships something(or someone), the question is, what'll it be?

CV said...

@McF

I wish they would friggin start WORSHIPPING the "sell" button - lol

spoonman said...

I'll have to check that out. Thanks CV.

spoonman said...

the book, that is, not idolizing the sell button...Although, Mr. Market can sell off any time he wants, I'm ready.

72bat said...

here's a great review "mythologizing america" that (in the concluding paragraphs) just happens to compare "american gods" to my all-time favorite work of the genre, "engine summer" by john crowley for which i harbor the secret ambition to write the screen play.

karen said...

http://www.telegraph.co.uk/finance/currency/8002719/Chinese-think-tank-warns-US-it-will-emerge-as-loser-in-trade-war.html

McFearless said...

C,

thanks for that link.

karen said...

xrt.. thanks for nothing guys!

karen said...

http://latimesblogs.latimes.com/lanow/2010/09/body-of-man-found-in-lax-bathroom.html

McFearless said...

I'd open that link but I can't out of fear I'll have to read about a wide stance or something.

airport bathrooms

disgusting

karen said...

"A man whose head was covered in a bag and who had his hands bound was found dead Wednesday morning in a restroom at Terminal 3 at Los Angeles International Airport, authorities said."

"The sources said it was not immediately clear if the death was a suicide or a homicide."

Jennifer said...

Karen -- RTH?

McFearless said...

Karen,

i can't see past jcg

8-)

karen said...

xlf closed gap but spy has not..

i can no longer harp that the trend is still down, however.. UFB.. what's a girl to do? it really is a cr*p shoot at this point.. we could get into 1140s tomorrow.. or return to my top..

McFearless said...

@jennifer,

I did a small CAT Jan 11 OTM put yesterday, it's unchanged as of right now, we'll see.

karen said...

Thanks, Jennifer, that's another one.. xrt was what I was looking for and there is $rlx, too. I

McFearless said...

indeed Karen, I'm taking little tiny shots here and there 1% of the account type trades and as soon as I'm getting a respectable gain I just take it or I'm getting stopped out.

I don't see much other way of trading it right now and I don't see anything in the charts to give me enough confidence to make a weighted bet.

McFearless said...

if we try to keep it simple and use something like Dow Theory...oh well look that's not helping either, lol!

karen said...

Ben.. JCG is what prompted me to want to look.. short interest at 14.8% now. Wish I had logged all me posts on that.. the search on blogspot is worthless.. e*trade is showing it with a fraction of the institiutional ownership it once had.. it was my favorite distribution stock.. besides C, of course.

McFearless said...

hey currency buffs, whats the read on AUD/USD today?

karen said...

All I know is that I wouldn't want to be on the wrong side of Steve Jobs!!! and Japan is, LOL

alaidi
Jpns govt telling Nikkei to warn mkts abt future intervention. $AUDJPY 55-week MA just above 80.80s double top from June high $$
1 minute ago via web
Reply Retweet

zerohedge
No rest for the ninjas: Japan expects to continue selling Yen in the coming days.
3 minutes ago via TweetDeck

zerohedge
Japanese authorities sold more than 2 trillion YEN in London and NY markets toda

McFearless said...

karen,

I keep a word document up all day now where I log any stock or market calls I make, i can find comments through google search but it can take hours to do that and the search buttons on these blogs never work, they don't even work at TBP.

McFearless said...

could probably use a funny leftback joke about the japanese right about now

Jennifer said...

McF -- I've had mixed results w/ buying thing w/ expiration so far away. Basically, my current thinking on options is that they are great for moves that I expect to happen right away. If the move doesn't happen that's my cue to get out. If I buy more time, then it is easy to rationalize waiting around. So for me, its front month in the 1st 2 weeks of the month, or next month if expiration is less than 2 weeks away. In my (limited and recent) experience, when I buy the farther out ones, my profits evaporate and even if there is a second leg that I capture, it hasn't worked out to be worth it. Maybe I've got the strikes wrong though...this is one place where I've found that real life has nothing to do with what I've read in the books. Theoretical pricing and actual pricing seem to be radically different. Been out all day, back for that all important final hour!

Jennifer said...

I'm still in the CAT trade, mostly because the darn thing seems so overbought. But, this little downmove is starting to look more like a bull flag, and if I'd been more careful the other day I would have noticed that DE was flagging and CAT would have followed suit.

bob said...

AUDUSD

Off it's top, but not very convincing either way, held a 61 retrace of the week.

karen said...

from dow jones:
Bank of America, at 11.73%, had the highest write-off rate in August among its major peers. It wrote off 11.39% of its credit-card loans in preceding month. Bank of America has consistently reported a higher write-off rate than other major U.S. card issuers. Total delinquencies were lower at 5.68% last month compared with 5.92% in July.

Citigroup Inc. (C) is slated to report later Wednesday

karen said...

he spoke a minute too soon.. i mean tweeted: zerohedge

There is no 3:30 ramp
3 minutes ago via TweetDeck

Jennifer said...

That trendline is being strongly defended...

AmenRa said...

SPX 5-min charts...WTH has been going on the past 40 minutes?

McFearless said...

Jennifer,

3:24,

have I told you about the time about how I thought the trend had changed earlier in the year so I bought some ITM puts that didn't expire until September and were up at one point over 350% from my purchase price making me ever so confident in my chart work....but then only for me to hold them too long and watch them change into a loss?

Oh, well if I didn't, it's because I'm living it right now!

small though, I'm going to lose about $5k on these, as Andy might say, tis but a scratch, my portfolio performance took a major hit the last two weeks as my dollar trades soured as well.

oh well, I believe in myself, ROR.

Jennifer said...

McF -- hadn't heard that story...ouch! You're not alone. I remember reading once upon a time at TBP where BR described options on the leveraged etfs as akin to dousing oneself with gasoline and lighting a match. I caught a fantastic move once w/ SKF options -- the whole wave from start to finish -- but I had a couple go bust too.

CV said...

"The sources said it was not immediately clear if the death was a suicide or a homicide."

"A man whose head was covered in a bag and who had his hands bound was found dead Wednesday morning in a restroom at Terminal 3 at Los Angeles International Airport, authorities said."

---

ummm... let me think...

Jennifer said...

CV -- it doesn't seem right to laugh...

McFearless said...

the best options I ever did by a mile were in 08 on a few individual stocks, CAT being one of them, CHK short that summer was my best ever trade, unless there is a real P3 I may never get another market like that to trade the rest of the time I do this, ah, the good ole days, strange to say it but things were so much easier in 08 than they are now....so much easier.

I have never bought an option on any of the levered ETF's though, not part of the risk mgmt plan there.

Jennifer said...

VIX is up? What do they know?

CV said...

@Jennifer

it reminded me of this...

http://bitsandpieces1.blogspot.com/2007/10/how-to-rip-your-own-head-off.html

McFearless said...

I hate this close, we could get a gap up tomorrow, but no way in hell am I going to mention it could be on some nonsense claims number were 405k in new claims is somehow considered to be BTE, at least for a day.

karen said...

Hey, Bat.. the Sincerity is on sale for $7.99 !!! I'm going to BevMo in a few hours and buying every bottle they have.

karen said...

Jennifer.. exactly what I thot when I read the article..

karen said...

ben @ 3:56.. i second your sentiments.. also hate today's spy candle.. also hate the volume.. there's another triple for you.

CV said...

It was probably some dude who was about to blow the whistle on the Fed...

mcHAPPY said...

Everyday another triangle appears within a larger triangle. This is nucking futs.

EWI will still be claiming minor 3 I'm sure - yawn.

Jennifer said...

Guy blew his head off yesterday morning in Evanston. He was in a park next to a junior high school with 2 homemade pipe bombs. (guess what -- they worked!) 1st one went off around 4:30 am. It was loud enough to shake houses and wake nearby residents. They called the cops who...found nothing. Later, guy walking his dog that wouldn't settle down after the first explosion found the body (sans head) and the second bomb. The cops had to detonate the bomb in place.

McFearless said...

re: triple

I'm going triple frou frou drinks mid day because, yes, I'm seeing triple anyway so whats the difference, triangles and threes triangles and threes for months now over and over again.

McFearless said...

McHappy,

4:03, exactly on each part of that post, exactly.

CV said...

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/shirakawa/Cumulative%20Fund%20Flows.jpg

karen said...

Disclosure: I know not the source of this youtube!!

http://www.youtube.com/watch?v=J5i5kvGUl48&feature=youtu.be

"Greece as a viable economy is finished" - Max Keiser/Helen Skopis

AmenRa said...

SPX couldn't escape yesterdays upper shadow. DXY has a gravestone doji (uh oh).

karen said...

a new era of even less transparency..

don't we know it.

karen said...

oh my word!!! listen to this guy on that youtube.. he could be one of us!!

karen said...

okay.. i am getting out of of here.. had all i can take for the day.. best to all of you : )

karen said...

back quickly to post this steve eisman!

http://www.cnbc.com/id/15840232?video=1592057003&play=1

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