something's wrong here, when I click on my blogger reading list on the thread i was commenting on all morning now it shows "page not available" and brings me here.
don't know what going on with the current thread...but for the treasury bulls out there(we know who you are) from the latest flow of funds report. Who are the buyers?. Households. Banks. Choo-choo. All aboard the d-train!
The thread looks particularly ominous if you read the tagline for the blog right above the post - "just in case the world doesn't end - we'll always be here with Capital Markets narrative" then "blog closed"
This freaked me out for a second also. But since the signs are in Italian I figure that's CV. Since the Euro and 10yr are not confirming the bullish move where does that leave us?
You guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
You guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
You guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
You guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
I'm not putting much into today yet, that move yesterday looked pretty special and you could see a nice looking impulse up, this could merely be the correction of that move, we gotta break that 1070 range before it means anything, if that doesn't happen I still lean toward some upside.
that's two straight days UUP had a nice gap up. I still havent' done anything yet there on the long side, I don't think I missed the start of the move back up yet....or should I say I hope I didn't.
yeah it's funny how the anon's all roll around bashing someone "being wrong for the last month" all the while doing so without so much as a name or a single call to compare to.
How about you grow a set and get a name like everyone else. CV is no different than all the rest of us, we get some right and get some wrong, and we are all just trying to be more right than wrong, sometimes that means a bad month or a bad quarter.
He's my friend so maybe this is biased but he hardly claims to be right all the time, that's total crap. that's a pretty moronic post if you ask me.
I'm not sure if you've noticed this but there are some, what would seem to be, important waves on the futures that don't show up on the cash. I have to admit in the very near term I'm totally lost right now when it comes to a count.
picking up on that link I had later last night, I found it interesting from two perspectives
1. it's timing is very interesting, especially in light of any new tension over the next several months between israel and iran
2. it reveals how easy our politicians are bought off, something the public is most certainly more in tune to than they were in the net during the Clinton years.
it seemed to be a very social moody type article to me.
alright, this move here would seem important, could be the last move down to complete the B wave before this C wave up.....or, well, lets just see what happens.
social mood Ra, imo anyway, I read the news much different than I used to since my introduction to socionomics.
There is a phrase Prechter used that was very eye opening for me when he was talking about how we tear down famous people at different times along the waves of social mood, he said:
It's not the person that we care bout, it's the persona
Michael Jackson could serve as a great case study for anyone that is interested.
He wanted it so badly - and now he's choking on it. You can find chickenshit somewhere between "consider looking for a successor", "paysite" and "psicosomatici". Or haven't you noticed?
You can stop missing me now cuz I'm back! Hope I'll get a chance to read CV's original post as I didn't have time at the open.. that's why I didn't comment. My bed wanted me back and I thot I could return to a red screen later. Not red enuf yet, tho!!
yeah, as was said yesterday here, and now voiced by DR today:
"Yesterday’s rally was widely considered to have been a reaction to talk that the Fed is going to find new innovative ways to bolster the economy — like cut interest rates on bank reserves. Please, the pundits say this will induce the banks to extend credit, which totally misses the point."
come on people, they are paying .25% on them...this was silly
Also, he talks about this:
"Japanese Investors Snap Up U.S. Bonds (page 20 of the FT). For all that talk about a foreign buyers’ strike... fuggetaboutit!! In the nine weeks to July 8, Japanese investors have bought a net $88.3 billion in foreign bonds, mostly U.S. bonds."
He wanted it so badly - and now he's choking on it. You can find chickenshit somewhere between "consider looking for a successor", "paysite" and "psicosomatici". Or haven't you noticed?
Question: Since the credit rating agencies will now be held liable which bonds will have the most problems? Ex: MBS, ABS, SovX, credit cards, autos, companies, etc. How many of these will be put on hold? Or rescinded? Or taken private?
i accidentally opened a ten min chart of T, interesting! oh! just noticed UUP.. I'm completely out of the loop this morning.. uh-oh, copper up.. just noticed the gap up open in JJC (copper).. currently looking like one of those doomed-to-blow-out black candles..
"Western economies seem to be drifting, Japan-like, towards low growth, low yields, big (but surprisingly sustainable) budget deficits and scaled-back equity returns. If the drift continues, it will end in a deflation scare. No one is more scared of deflation than today's cohort of central bankers. The end-game, over the horizon for now, may be an inflationary printfest."
TraderMark on VMW: "The main question for a name like this is valuation... we have this stock along with a few others in the "valuation does not matter" wing of the portfolio, but of course it only does not matter... until it does. The way I treat these richly valued names is to cut back in front of earnings, and then once the coast is clear it is back to business as usual for the next 90 days until the next report. Eventually all good momentum stocks hit that quarter where analysts finally push out a target too high and you have that implosion, at which point you have to walk away."
from the NLY piece: "Third, it is terrifically reassuring that the Fed has the people and the resources dedicated to understanding this feature of the market." Those are famous last words if I ever read them.. the only thing I got out of that post was how much more "contraction" has to come out of the system. Frightening, indeed.
Ego wants to compete: It wants to win and for others to lose; it wants to make more money than your neighbor; it wants to be right; and it wants to prove others wrong.
"JP Morgan CEO Jamie Dimon and Goldman Sachs chief Lloyd Blankfein were both left off the invitation list for thesigning of the Dodd-Frank financial reform bill into law."
“It looks a bit like crony capitalism—the White House playing favorites and rebuking companies that don’t instantly agree that every policy coming out of the Democratic caucus on Capitol Hill is the most brilliant idea ever,” an executive at one of the companies whose chief got an invitation said.
But if a war is brewing between Wall Street and the White House, it's a quiet and cold war. At least three executives who spoke to CNBC said that they feared White House retaliation if they were identified for this story. Others said they hadn’t been authorized by their employers to speak on the matter. No one would go on the record with their complaints.
Nic, and boy do I know what an ugly chop zone is.. paddling again the wind and current with a cold salt spray stinging your eyes and freezing your bod while your arms feel like they are going to fall off.
"paddling against the wind and current with a cold salt spray stinging your eyes and freezing your body while your arms feel like they are going to fall off"
Karen you and I have obviously drunk more than our fair share of seawater :) I am tempted to call it a day. Big news of home sales and employment is tomorrow. Unless Bernochio announces he has leased a helicopter
Wednesday, July 21st, 2010, 12:34 pm Source: Bloomberg Fannie Mae and Freddie Mac's regulator may identify as much as $30bn of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 subpoenas seeking loan files and other documents related to so-called non-agency mortgage securities bought by the two government-supported companies. The US is trying to determine whether misrepresentations might require issuers to repurchase debt, producing funds from firms that may include Wall Street's largest banks to help repay taxpayer money.
"The slowdown prompted Kane last month to cut by half his budget for capital spending this year. He also put off hiring more product-development workers. As for his existing staff of 165, Kane had intended to give them raises later this year after a two-year wage freeze.
"But now we're having second thoughts," said Kane, whose business is in its 31st year. "I just don't have the confidence to spend the cash."
I haven't sat down to verify this but it looks to be so from the chart, EWI claimed in 2006:
"A major fifth wave has never failed to make a new high in real terms as well as nominal terms. Many corrective-wave rallies also make new highs in real terms, but a failure to do so happens ONLY in corrective-wave rallies?
@ben, this one is for you. http://kennorquay.blogspot.com/
Talks about a eminent market timer award winner and an ASTROLIGIST, Arch Crawford(AC). AC correctly predicted 1987 crash and has received the prestigious stock market timer of the year.
This AC guy is saying sell your stocks(there is historic tragic event coming up at end of July/beginning of Aug. 2010.
I thought you'd like that. I am not into astrology.
thanks for the Crawford stuff, I read on Daneric's site from some people that are following him that he's saying the Cardinal T cross is the worst thing he's seen in years, and I think a big date for him is 7/26.
Stay tuned.
I'm not way into the astro stuff but it's interesting, and there's that whole JP Morgan quote to remember.
...this is another repostulating of Laffer's prediction, but it is worth viewing...
..and I happen to think he's right, but that is what makes horse races...here at the salt mine, we are trying to maximize this year's income, and expect less next year...so in our small sample, we are 100% in agreement.
Bruce, the commercial leading that Laffer video was nauseating! but i think it was an important watch..
You know my husband and I are debating taking his entire IRA distribution right now... paying the 10% penalty and the 33% hit.. then splitting it.. we see higher taxes in the future. I suggested he take that IRA in its entirety and put it on his side of the asset sheet cuz he's 56.. whereas I am 51.. I do not want to wait 8 years to get my hands on that $$.
I have been thinking sort of similar things...and I have never had so many mental questions about running my business or planning my future, economically.
Ben, the Sepp route was what I originally encouraged my husband to do but based on his research, getting the IRS on board is not an easy task.. too many anecdotal stories of prolonged IRS battles.. thanks tho..
there's an old expression, more money sooner is better, that keeps ringing in my ears since the future is so unknowable.
cool, I have a few clients that do it (SEPP), never had any issues, but it's some work, ideally you wait until 59 1/2, certainly just paying the tax and doing the distribution is the easiest route, but just figured I'd throw another idea out there.
but hey, if you get that cash, you can do real shorts instead of messing with ETF's in the IRA! And, this way you don't have to worry about your RMD's at 70 1/2, another pain in the ass.
and ben, then there is the fact that even if my husband kept the IRA.. he would have to pay tax at an unknown % on his distributions as regular income so that is not really fair either.. at least if we cash out and pay now we will be married filing jointly in 2011.
yep, a good point, the uncertainty about taxes has been top of mind for me the last two years when trying to figure out what accounts I'll have clients draw income from if they are retired, it's pretty wild to be an advisor right now, normal big concern was a retiree that got hit with huge medical costs, what the heck am I supposed to tell them now about the potential future medical costs, not to mention taxes, etc.
why would anyone want a roth? honestly, i consider all this cr*p other than the 401k which had employer contributions, government confiscation of my money! further.. i do not trade that IRA.. have only reallocated a few times in many many years...
oh man I would love to see that 10,050 sliced up....see, today you don't need to be short to be happy, just look at the bonds.
is this an impulse down though....I know I know, I already missed the move, but still would have been some sort of truncation then at the top of this count
wondered if you saw that comment, you had one on the way up too right? I like the idea, I can see that bow-tie formation here and there now that I've seen you illustrate it.
but hell yes, I hope you're right because I didn't buy back UUP, I had a client in last night that we did a buy on 11/2/09 for and sold it all on 5/26/10, told him last night that he should hear from me soon about buying back....wonder if he'll call me tonight...ha!
apparently 2010 is the year to convert to a roth because the 100k adj gross income level will be waived.. perhaps that's why i never paid much attention to it because we didn't qualify..
am seriously looking into it now.. so as bruce said it could be a trading account for me..
"I think too many people are trying to match us up to The Depression, I agree with [xx] on this one though, we're not America 1931, we're Japan early 90's."
Hello! The Nikkei was at 40,000 at the time of the crisis, eventually hit 7, in 2008, and has not yet completed its macro picture of lower lows and lower highs.
you can spread the tax payment out this year as well, if you are the right person for Roth Conversion and you have high income this is the year to do it if there was ever a year to do it
it's been a great strategy for some of our lower taxable income retired clients, really good.
we are going to go the route of Japan...well great then, bears unite, you've got a ton of profit on the downside....the problem of course is I think a lot of the people saying that about Japan think we are just like them...minus the market decline of course.
I can't read these signs. Are you open? Can I still order a sandwich?
ReplyDeleteWTF? ??
ReplyDeleteI posted on the thread I saw before, when I did I came back to here, what is going on with blogger now?
ReplyDeleteI get the message...
ReplyDeleteSee ya!
something's wrong here, when I click on my blogger reading list on the thread i was commenting on all morning now it shows "page not available" and brings me here.
ReplyDeleteget what you pay for I guess.
They're trying to shut us all down, ben!! ;-)
ReplyDeletelol, maybe so Manny
ReplyDeleteI'm, just going to keep posting away, f it. but CV and McHappy are maybe stuck over on that other thread.
ReplyDeleteIn any event, this is probably no big deal right:
Germany Fails to Attract Bids for All Four-Billion Euros of 30-Year Bonds
The Italians are looking for CV, they found his stash of gold coins.
ReplyDeletedon't know what going on with the current thread...but for the treasury bulls out there(we know who you are) from the latest flow of funds report. Who are the buyers?. Households. Banks. Choo-choo. All aboard the d-train!
ReplyDeletemcHAPPY is here and can't get back there.
ReplyDeleteI think CV is gone on strike and has a headache?
McHappy,
ReplyDeleteThat other thread is like the matrix or something.
@spoon,
leftback had this pegged a long long time ago about how the buying would continue in govies. I remember him playing this out well over a year ago.
http://www.bloomberg.com/news/2010-07-21/germany-fails-to-get-bids-for-all-4-billion-euros-of-30-year-bonds-in-sale.html
ReplyDeletewho are the buyers?
The thread looks particularly ominous if you read the tagline for the blog right above the post - "just in case the world doesn't end - we'll always be here with Capital Markets narrative"
ReplyDeletethen
"blog closed"
hahaha
Yeah, I remember lefty mapping this out...just watching the signposts go by, that's all.
ReplyDeleteIs there a strike in Italy against austerity measures?
ReplyDeleteIs this a reference to Jersey Shore refusal to film?
These are the only things I got when I googled.
This freaked me out for a second also. But since the signs are in Italian I figure that's CV. Since the Euro and 10yr are not confirming the bullish move where does that leave us?
ReplyDelete@Amen (10:28)
ReplyDeleteHere...
http://traders-anonymous.blogspot.com/2010/07/amenras-corner_20.html?showComment=1279678361309#c903293979258780142
I think CV has gone Apocalypse Now on us...we may have to send someone after him...
ReplyDelete@BinT
ReplyDelete"The horror"
I'm telling you guys, the Italians found his stash, he's flying down the Potomac right now James Bond style.
ReplyDeleteHeart of Darkness or work to rule?...we ought to consider a raise for CV.
ReplyDeleteToday/tomorrow could be very crash-like if this continues to play out like it has thus far. Oh dear, nevermind, I just jinxed it.
ReplyDelete@McF
ReplyDelete"I'm flying the plane"...
You guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
ReplyDeleteI had a hissy fit once, didn't do me much good...felt better for a little while, though.
ReplyDeletelol, I love anon's.
ReplyDeleteYou guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
ReplyDeleteYou guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
ReplyDeleteYou guys are pathetic. CV is having a typical hissy-fit because no one is hanging on his every word after being wrong for much of the last month despite throwing out so many predictions that eventually he will claim he was right all along. Who do you think sent the 10:31 to AmenRa?
ReplyDeleteok...we got it.
ReplyDeleteI'm not putting much into today yet, that move yesterday looked pretty special and you could see a nice looking impulse up, this could merely be the correction of that move, we gotta break that 1070 range before it means anything, if that doesn't happen I still lean toward some upside.
ReplyDeleteWow... anon likes to hammer home the point.
ReplyDeleteHas anyone checked the chart of the EUR/USD? That is either a steep correction or the start of a new wave down.
McHappy,
ReplyDeletethat's two straight days UUP had a nice gap up. I still havent' done anything yet there on the long side, I don't think I missed the start of the move back up yet....or should I say I hope I didn't.
Anon, if you're going to call people out, at least get a handle.
ReplyDeleteThats chickenshit.
@ Anon (10:44)
ReplyDeleteIs that you Denise? From the "other" blog. Read last night's Amen Ra's corner. Denise was angry at some "Anon" . Now Denise doing the same thing?
Just asking?
I played with an iPad last night at a clients house....I gotta say, it's a cool little gadget imo.
ReplyDeleteyeah it's funny how the anon's all roll around bashing someone "being wrong for the last month" all the while doing so without so much as a name or a single call to compare to.
ReplyDeleteHow about you grow a set and get a name like everyone else. CV is no different than all the rest of us, we get some right and get some wrong, and we are all just trying to be more right than wrong, sometimes that means a bad month or a bad quarter.
He's my friend so maybe this is biased but he hardly claims to be right all the time, that's total crap. that's a pretty moronic post if you ask me.
next.
@McHappy,
ReplyDeleteI'm not sure if you've noticed this but there are some, what would seem to be, important waves on the futures that don't show up on the cash. I have to admit in the very near term I'm totally lost right now when it comes to a count.
I read that ZH comment thread last night, you better be ready for war when you post over there, no matter what you say.
ReplyDeleteBen,
ReplyDeleteThis might be a really stupid question but how would one go about checking the futures? What is the symbol?
Here ya go McH:
ReplyDeletehttp://www.cmegroup.com/trading/equity-index/
ES for emini SPX
YM for emini Dow
NQ for emini Naz 100
McHappy,
ReplyDeleteWhere do you house your money, like what brokerage? Most places will give you access to futures quotes as far as I know. Look for the symbol ES.
Finviz is a good one stop:
ReplyDeletehttp://finviz.com/futures.ashx
If your brokerage doesn't have them I'm not sure if there is a place to get free charts on the mini's, anyone else know?
ReplyDeletesometimes kenny says something that really makes me laugh, this was one of them:
ReplyDeleteThey all look good until they do not. Sometimes using Elliott Wave Theory is like waking up with a hangover with a three-eyed woman!
www.quote.com is a site for free (delayed) quotes. Also www.finviz.com is another good site.
ReplyDeleteanyone know anything about this outfit: EXAS
ReplyDelete???
@I-Man (11:06)
ReplyDelete"Pork Bellies... I knew it!"
The I no check fi no swine...
ReplyDeletebabylon cloven foot.
Ra,
ReplyDeletepicking up on that link I had later last night, I found it interesting from two perspectives
1. it's timing is very interesting, especially in light of any new tension over the next several months between israel and iran
2. it reveals how easy our politicians are bought off, something the public is most certainly more in tune to than they were in the net during the Clinton years.
it seemed to be a very social moody type article to me.
Ben
ReplyDeleteMy thoughts on that article was "why now?" Why hold on to it for ten years?
alright, this move here would seem important, could be the last move down to complete the B wave before this C wave up.....or, well, lets just see what happens.
ReplyDeletesocial mood Ra, imo anyway, I read the news much different than I used to since my introduction to socionomics.
ReplyDeleteThere is a phrase Prechter used that was very eye opening for me when he was talking about how we tear down famous people at different times along the waves of social mood, he said:
It's not the person that we care bout, it's the persona
Michael Jackson could serve as a great case study for anyone that is interested.
Mike Tyson, also imo.
ReplyDeleteyeah, there are tons of recent examples, look at the boy bands of the late 90's and the early part of the decade, look at Britney Spears!
ReplyDeleteThanks for the links, peeps.
ReplyDeletesteroids in baseball?
ReplyDeleteand on and on and on
He wanted it so badly - and now he's choking on it. You can find chickenshit somewhere between "consider looking for a successor", "paysite" and "psicosomatici". Or haven't you noticed?
ReplyDeleteYou can stop missing me now cuz I'm back! Hope I'll get a chance to read CV's original post as I didn't have time at the open.. that's why I didn't comment. My bed wanted me back and I thot I could return to a red screen later. Not red enuf yet, tho!!
ReplyDeleteyeah, as was said yesterday here, and now voiced by DR today:
ReplyDelete"Yesterday’s rally was widely considered to have been a reaction to talk that the Fed is going to find new innovative ways to bolster the economy — like cut interest rates on bank reserves. Please, the pundits say this will induce the banks to extend credit, which totally misses the point."
come on people, they are paying .25% on them...this was silly
Also, he talks about this:
"Japanese Investors Snap Up U.S. Bonds (page 20 of the FT). For all that talk about a foreign buyers’ strike... fuggetaboutit!! In the nine weeks to July 8, Japanese investors have bought a net $88.3 billion in foreign bonds, mostly U.S. bonds."
ReplyDeleteI
told
you
yesterday
.
He wanted it so badly - and now he's choking on it. You can find chickenshit somewhere between "consider looking for a successor", "paysite" and "psicosomatici". Or haven't you noticed?
ReplyDeleteQuestion: Since the credit rating agencies will now be held liable which bonds will have the most problems? Ex: MBS, ABS, SovX, credit cards, autos, companies, etc. How many of these will be put on hold? Or rescinded? Or taken private?
ReplyDeleteKaren
ReplyDeleteHola! Creditcane should be merging with its buddy Creditami very soon.
Creditami... nice one.
ReplyDeleteCreditsunami? CV, let me know if you need to add my avatar to you impromptu post...
ReplyDeleteI'm thinking we get one more shot on the short side before lunch...
ReplyDelete@Karen
ReplyDeletePrendi un viola tagliaci la gola
i accidentally opened a ten min chart of T, interesting! oh! just noticed UUP.. I'm completely out of the loop this morning.. uh-oh, copper up.. just noticed the gap up open in JJC (copper).. currently looking like one of those doomed-to-blow-out black candles..
ReplyDelete"get a purple throat cutters" lost in translation!
ReplyDeletezerohedge -
ReplyDeleteObama: "Dear Americans - you are all part of the Ponzi Collective
Or not...
ReplyDeleteMay as well go make some breakfast.
Izza song a we zing nello stadio quando (when) we a play Firenze in calcio
ReplyDeleteUUP held its 50% retrace and is moving higher.
ReplyDeleteLast night's mahi waiting for me in the fridge. Gotta finish my french roast first, however : )
ReplyDeleteWash Uffizi drive me to Firenze.
ReplyDeleteMS has a $325 price target on AAPL.. WTF?!
ReplyDeleteA comment from Minack in the Downunder Daily:
ReplyDelete"Western economies seem to be drifting, Japan-like, towards low growth, low yields, big (but surprisingly sustainable) budget deficits and scaled-back equity returns. If the drift continues, it will end in a deflation scare. No one is more scared of deflation than today's cohort of central bankers. The end-game, over the horizon for now, may be an inflationary printfest."
@Karen
ReplyDeleteDidn't MS have a call of 5.5% on T's? lol
I-Man,
ReplyDeleteOne of my favorite songs!
Ra,
ReplyDeletere: credit ratings
muni's?
that last move down held support pretty well, looks like a B wave, we'll know by the close if it's over.
ReplyDelete@karen (12:03)
ReplyDeleteI'll show you what I think of that price target.
could the dollar start it's next move higher during an S&P move to 1150 or more?
ReplyDeleteWell, why not, that correlation has been more than shaky for quite a few quarters now.
check out slide 9 from AT's sunday update on the dollar, if I remember correctly AT used the "diametric" idea on the way up with the dollar as well.
ReplyDeleteBen, can't believe you aren't satisfied with 1090.. and here's my top if you really want to see it again.
ReplyDeleteDL, I guess I should put some shorts on, laughing.. lest someone comes to the door!
ReplyDeleteTraderMark on VMW: "The main question for a name like this is valuation... we have this stock along with a few others in the "valuation does not matter" wing of the portfolio, but of course it only does not matter... until it does. The way I treat these richly valued names is to cut back in front of earnings, and then once the coast is clear it is back to business as usual for the next 90 days until the next report. Eventually all good momentum stocks hit that quarter where analysts finally push out a target too high and you have that implosion, at which point you have to walk away."
ReplyDeletelol, Karen, everyone loves your top of course!
ReplyDeleteI would have certainly been satisfied with the 1090, but I'm just not sure the market was :-)
Soft boiled egg, half an avocado, a few left over yukon gold fingerlings, spinach chiffonade, and some green onions...
ReplyDeleteOne of I and I favorite breakfasts...
The Shadow Knows, a new NLY blog post..
ReplyDeleteJNK is within a point of its 52 week high, fyi.
ReplyDeleteK @ 12:20
ReplyDeleteShorts on before opening the door; probably not a bad idea.
can see a little five developing here? schnikies!
ReplyDelete"Been 14 days since I don't know when"
ReplyDelete"Been 13 days since, we hit ten ten" (1010)
Lord do know what I mean?
http://www.youtube.com/watch?v=fymw5ie9Zd4
from the NLY piece: "Third, it is terrifically reassuring that the Fed has the people and the resources dedicated to understanding this feature of the market." Those are famous last words if I ever read them.. the only thing I got out of that post was how much more "contraction" has to come out of the system. Frightening, indeed.
ReplyDeleteFrom Ritholtz.com, 10:56 A.M. post:
ReplyDeleteEgo wants to compete: It wants to win and for others to lose; it wants to make more money than your neighbor; it wants to be right; and it wants to prove others wrong.
. . . . . . . . . .
Sure glad that doesn't apply to anyone here.
Ego?
ReplyDeleteTraders???
NAW... get out.
http://www.cnbc.com/id/38343861
ReplyDelete"JP Morgan CEO Jamie Dimon and Goldman Sachs chief Lloyd Blankfein were both left off the invitation list for thesigning of the Dodd-Frank financial reform bill into law."
“It looks a bit like crony capitalism—the White House playing favorites and rebuking companies that don’t instantly agree that every policy coming out of the Democratic caucus on Capitol Hill is the most brilliant idea ever,” an executive at one of the companies whose chief got an invitation said.
But if a war is brewing between Wall Street and the White House, it's a quiet and cold war. At least three executives who spoke to CNBC said that they feared White House retaliation if they were identified for this story. Others said they hadn’t been authorized by their employers to speak on the matter. No one would go on the record with their complaints.
and now that the ink is dry
ReplyDelete@ DL
ReplyDeletethe trap door
I don't know any traders with ego's, I certainly don't have one
ReplyDelete(kidding of course)
btw, that's a Kent Thune post, you didn't expect Barry to write about Ego did you?
Oh dear, seems like Karen I missed everything.
ReplyDeleteIs this what Obama's internet kill switch looks like?
"Is this what Obama's internet kill switch looks like"?
ReplyDeleteYes
timmmmay!
ReplyDeletehttp://www.youtube.com/user/optionmonstertv
and no, not that "baller" Timmy G.
Hello CV
ReplyDeleteInteresting commentary today. I am at babelfish translation now.
I was kicked out for "night putting"...
ReplyDeleteI was "putting", with the 15 year old daughter of the dean...
http://www.youtube.com/watch?v=4xNFPaPor8A
Nic, oh please just forget where we've been today and tell us where we are going? !!
ReplyDeleteI plan to appoint a czar to oversee the internet.
ReplyDeleteMr. TopStep.. TopNotch
ReplyDeletehttp://www.youtube.com/watch?v=F5Xlq2XZiOw
Vix sonar: http://www.youtube.com/watch?v=vFm2iew2sXo
ReplyDeletepraying topnotch is wrong and a bull trap has been set..
ReplyDeleteThat Mr Fibonacci, he's got something up his sleeve.
ReplyDelete30 and 10 year yields looking bearish to me..
ReplyDeleteTough to fade Tim Hefkie, my dear Auntie.
ReplyDeleteKaren
ReplyDeletewe are in an ugly chop zone
I think lower for the rest of the week and a push higher next week ...
Just too much nasty news to end the week
I did it very successfully a week or two ago.. well, that was Danny that I called out.. even a blind squirrel finds an acorn once in a while : )
ReplyDeleteNic, and boy do I know what an ugly chop zone is.. paddling again the wind and current with a cold salt spray stinging your eyes and freezing your bod while your arms feel like they are going to fall off.
ReplyDeleteLong, clearly defined trend.
ReplyDeleteShort, ugly chop zone.
"paddling against the wind and current with a cold salt spray stinging your eyes and freezing your body while your arms feel like they are going to fall off"
ReplyDeleteSurfing, I assume.
I <3 ZH !!
ReplyDeleteBill Miller Says Large Caps "Once In A Lifetime" Buying Opportunity.... And He Has Many Of Them To Sell To You http://bit.ly/9HTMXt
DL, paddleboarding: http://www.joebarkpaddleboards.com/boards
ReplyDeleteKaren you and I have obviously drunk more than our fair share of seawater :)
ReplyDeleteI am tempted to call it a day. Big news of home sales and employment is tomorrow.
Unless Bernochio announces he has leased a helicopter
Bill 'Amazon is Cheap in 1999' Miller?
ReplyDeleteK @ 1:36
ReplyDeleteI see.
Looks like fun.
of course, i always liked his call on countrywide the best
ReplyDeleteMore good news!
ReplyDeleteWednesday, July 21st, 2010, 12:34 pm
Source: Bloomberg
Fannie Mae and Freddie Mac's regulator may identify as much as $30bn of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 subpoenas seeking loan files and other documents related to so-called non-agency mortgage securities bought by the two government-supported companies. The US is trying to determine whether misrepresentations might require issuers to repurchase debt, producing funds from firms that may include Wall Street's largest banks to help repay taxpayer money.
"Fannie Mae and Freddie Mac's regulator may identify as much as $30bn of debt..."
ReplyDeleteHow much are we going to end up pumping into these guys?
$500B.... $800B...?
a trillion, minimum...
ReplyDeletehttp://www.latimes.com/business/la-fi-econ-stagnant-20100721,0,6558166.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+latimes%2Fbusiness+%28L.A.+Times+-+Business%29
ReplyDeleteWeakening recovery brings deja vu
"The slowdown prompted Kane last month to cut by half his budget for capital spending this year. He also put off hiring more product-development workers. As for his existing staff of 165, Kane had intended to give them raises later this year after a two-year wage freeze.
"But now we're having second thoughts," said Kane, whose business is in its 31st year. "I just don't have the confidence to spend the cash."
...You and thousands of other bubbas....
I'z be stick'n wit da campane slowgun next time round'...
ReplyDeleteHOPE you can spare some CHANGE
I had to put that album on. Crazy weather here today, and just reached divided sky.
ReplyDeleteWell, the mine is open, and after I get through, a date at the track. Good trading. And tell that Italian to provide a translation next time...
ReplyDelete@ Bob
ReplyDeleteWake me at Bowie.
I haven't sat down to verify this but it looks to be so from the chart, EWI claimed in 2006:
ReplyDelete"A major fifth wave has never failed to make a new high in real terms as well as nominal terms. Many corrective-wave rallies also make new highs in real terms, but a failure to do so happens ONLY in corrective-wave rallies?
uh....2009-2010 rally anyone?
WTF IS THIS ANNOUNCEMENT ABOUT?!
ReplyDeleteFederal Reserve stands ready to take further action if needed: Bernanke
07/21/2010 02:02:03 PM
BB must have just begun speaking...
ReplyDeleteHeathen.
ReplyDeleteJust getting to the only guitar solo I ever learned how to play.
ReplyDeleteI'm out of here for a few hours, not in the mood to hear all about how BB is moving markets for the rest of the day.
ReplyDeletepeace out crew, back later tonight.
David Bowie.
ReplyDeleteBen, leaving on a potential 3% down day?!
ReplyDeleteChainsaws and typewriters aren't used enough as musical instruments.
ReplyDeletemrtopstep
ReplyDeleteStatue of Liberty evacuated due to smoke, WCBS reports
geez.. gold down too.. 114 in sight for gld??
Stopped pretty much right on top of the 50% retrace off the high...
ReplyDeleteBe on guard.
@ben, this one is for you. http://kennorquay.blogspot.com/
ReplyDeleteTalks about a eminent market timer award winner and an ASTROLIGIST, Arch Crawford(AC). AC correctly predicted 1987 crash and has received the prestigious stock market timer of the year.
This AC guy is saying sell your stocks(there is historic tragic event coming up at end of July/beginning of Aug. 2010.
I thought you'd like that. I am not into astrology.
Anony
It's the second post(July 7th) post on the blog.
i told you i loved this fellow: zerohedge
ReplyDeleteBen Bernanke: "Large Caps present a once in a lifetime opportunity for the Fed to buy them up"
lol, so much for going higher....had to come back and state this, in this case, I'm more than happy to be so dead wrong.
ReplyDeleteAnon,
ReplyDeletethanks for the Crawford stuff, I read on Daneric's site from some people that are following him that he's saying the Cardinal T cross is the worst thing he's seen in years, and I think a big date for him is 7/26.
Stay tuned.
I'm not way into the astro stuff but it's interesting, and there's that whole JP Morgan quote to remember.
Prediction is difficult, especially about the future.
ReplyDeleteY. Berra
"Ben, leaving on a potential 3% down day?!"
ReplyDeleteyou should probably never let me hear the end of this.
http://finance.yahoo.com/video/managingandleadership-19142760/expert-we-re-going-to-be-taxed-into-poverty-20988320
ReplyDeleteExpert: We're Going to Be Taxed Into Poverty
...this is another repostulating of Laffer's prediction, but it is worth viewing...
..and I happen to think he's right, but that is what makes horse races...here at the salt mine, we are trying to maximize this year's income, and expect less next year...so in our small sample, we are 100% in agreement.
dow better hold 10,050
ReplyDeleteBruce,
ReplyDeleteTaxed into poverty?
We've already been borrowed into it though....
always looking for the cause, I'm asking why we need to be taxed more at all, Karen provided the answer about a week ago.
Bye bye birdy.
ReplyDeleteMore like spent into poverty.
ReplyDeleteBruce, the commercial leading that Laffer video was nauseating! but i think it was an important watch..
ReplyDeleteYou know my husband and I are debating taking his entire IRA distribution right now... paying the 10% penalty and the 33% hit.. then splitting it.. we see higher taxes in the future. I suggested he take that IRA in its entirety and put it on his side of the asset sheet cuz he's 56.. whereas I am 51.. I do not want to wait 8 years to get my hands on that $$.
TNX low 28.94
ReplyDeleteBen
ReplyDelete7/26 is on or about the time the 55/233 cross happens on the $COMP...
would prefer to see some more volume build-up.
ReplyDeleteKaren,
ReplyDeleteI have been thinking sort of similar things...and I have never had so many mental questions about running my business or planning my future, economically.
...Obama has sure made it interesting!
Karen,
ReplyDelete2:38
consider Roth Conversion and/or explore SEPP distributions on the regular IRA, this is not advice, just throwing it out there ya know....
there are some ways to get money out of IRA's before 59 1/2 without penalty, just need to know the rules:
http://www.investopedia.com/articles/retirement/02/112602.asp#12797378449841&655x535
not advice!!!
May you live in interesting times - In all the 57 states.
ReplyDeleteBen, the Sepp route was what I originally encouraged my husband to do but based on his research, getting the IRS on board is not an easy task.. too many anecdotal stories of prolonged IRS battles.. thanks tho..
ReplyDeletethere's an old expression, more money sooner is better, that keeps ringing in my ears since the future is so unknowable.
Karen,
ReplyDeleteI agree with Ben, if you can afford the taxes, and you are 51, this would be a very good thing to convert this to a Roth....
Since I'm not a financial counselor, this isn't advice either, but it would make sense to me.
karen,
ReplyDeletecool, I have a few clients that do it (SEPP), never had any issues, but it's some work, ideally you wait until 59 1/2, certainly just paying the tax and doing the distribution is the easiest route, but just figured I'd throw another idea out there.
but hey, if you get that cash, you can do real shorts instead of messing with ETF's in the IRA! And, this way you don't have to worry about your RMD's at 70 1/2, another pain in the ass.
Silver Lining, Erin B taught me how.
Look out below.
ReplyDelete@McF (2:55)
ReplyDeleteThey pay me at CNBC to be a cheerleader. Don't you know?
http://www.hotelaphrodite.info/wp-content/uploads/2009/12/erin_burnett-7580.jpg
and ben, then there is the fact that even if my husband kept the IRA.. he would have to pay tax at an unknown % on his distributions as regular income so that is not really fair either.. at least if we cash out and pay now we will be married filing jointly in 2011.
ReplyDelete@Anon (10:39)
ReplyDeleteBite Me
we are half way to a 3% down day!
ReplyDelete@Anon (10:39)
ReplyDeleteBite Me
@Anon (10:39)
ReplyDeleteBite Me
Karen,
ReplyDeleteyep, a good point, the uncertainty about taxes has been top of mind for me the last two years when trying to figure out what accounts I'll have clients draw income from if they are retired, it's pretty wild to be an advisor right now, normal big concern was a retiree that got hit with huge medical costs, what the heck am I supposed to tell them now about the potential future medical costs, not to mention taxes, etc.
why would anyone want a roth? honestly, i consider all this cr*p other than the 401k which had employer contributions, government confiscation of my money! further.. i do not trade that IRA.. have only reallocated a few times in many many years...
ReplyDeleteoh man I would love to see that 10,050 sliced up....see, today you don't need to be short to be happy, just look at the bonds.
ReplyDeleteis this an impulse down though....I know I know, I already missed the move, but still would have been some sort of truncation then at the top of this count
the thing I get scared about with the roth is if the govt gets desperate enough does it lose the tax free status?
ReplyDeleteI'd like to think no way, but that probably wouldn't be a very prudent conclusion to just brush it off like that.
McFear: It would be nice if that diametric on the DXY played out that way...would be cool to get another dip on that one....
ReplyDeleteTNX below 29.00
ReplyDeleteWeekly 3LB mid being tested.
Trendlines still holding.
50 minutes left...
I just want to assure everyone...
ReplyDeleteThere will be no tax increases before the midterm election.
Bernocchio sure knows how to clear a room
ReplyDeleteAT,
ReplyDeletewondered if you saw that comment, you had one on the way up too right? I like the idea, I can see that bow-tie formation here and there now that I've seen you illustrate it.
but hell yes, I hope you're right because I didn't buy back UUP, I had a client in last night that we did a buy on 11/2/09 for and sold it all on 5/26/10, told him last night that he should hear from me soon about buying back....wonder if he'll call me tonight...ha!
US 10 yr yield is approaching the 2.88% SR level. Dow and 10,000K
ReplyDeleteBig levels ...
apparently 2010 is the year to convert to a roth because the 100k adj gross income level will be waived.. perhaps that's why i never paid much attention to it because we didn't qualify..
ReplyDeleteam seriously looking into it now.. so as bruce said it could be a trading account for me..
I love reading moronic comments on the internet:
ReplyDelete"I think too many people are trying to match us up to The Depression, I agree with [xx] on this one though, we're not America 1931, we're Japan early 90's."
Hello! The Nikkei was at 40,000 at the time of the crisis, eventually hit 7, in 2008, and has not yet completed its macro picture of lower lows and lower highs.
karen,
ReplyDeleteyou can spread the tax payment out this year as well, if you are the right person for Roth Conversion and you have high income this is the year to do it if there was ever a year to do it
it's been a great strategy for some of our lower taxable income retired clients, really good.
I think we have another wave down in DXY but have to get EU stress tests out of the way. Post-stress test rally for EUR maybe, just like the US did.
ReplyDeleteI plan to introduce a bill making Roth IRA's illegal.
ReplyDeleteThat's like saying "I'm not a Fat Snail Rider, I'm a Tub o Lard Helix Aspersa Jockey"
ReplyDeleteTen year is 2.89! Maybe Mish is right.......
ReplyDeleteGary Shilling is the T-bond bull.
ReplyDeleteProbably thinks the 10-year note is going to 1%.
18 are you out there?
ReplyDelete1044,1062,1080,1098 have all provided significant resistance/support.
@Anon
ReplyDeleteI'll see you tomorrow.
44...62...80
ReplyDeleteHIKE!
fat snail, I said the same thing on Monday
ReplyDeletewe are going to go the route of Japan...well great then, bears unite, you've got a ton of profit on the downside....the problem of course is I think a lot of the people saying that about Japan think we are just like them...minus the market decline of course.
@Anon
ReplyDeleteYou're doing it wrong. (44 - 62 - 80)
http://www.youtube.com/watch?v=dMo0WlSvrIY
@McF
ReplyDeleteThe point is, the comment was made with reference to the equity market decline.
So what's the point in arguing 1931 vs. Nikkei?
If the point is to prove you're a moron, then I'll go along with it.
ReplyDeleteIf you don't report loan losses, of course they will fall!
ReplyDeleteWells Fargo Profit Rises as Loan Losses Fall
http://online.wsj.com/article/SB10001424052748704684604575380880883663328.html?mod=rss_whats_news_us_business#articleTabs%3Darticle