Ok, so you have to cut out a lot of noise... But if you smooth out the lines a little, you get what I'm talking about here...
What's interesting about the framework of Charlie Brown's T-Shirt here is that the ANCHOR (the 50% FIBO from the 2010 high, and the 2010 low, is 1116... (Which is the level that we started the year on - as I look back to January)...
It ought to be interesting will be to see how the 78.6 FIBO level to the brackets (which is around 1171-1172) behaves... In a framework capacity, it ought to operate much like the 1056 level (which wasn't important on it's own, but it kind of served as a base camp for exploratory moves to the 1040 level (or, escape FROM that level, as the case may be)... It's the BULLS, now, that are hoping that we can escape the Charlie Brown T-Shirt to the upside, using the famous SECURITY BLANKET of Linus Van Pelt, and his belief in the GREAT PUMPKIN...
Why, Here's a GREAT PUMPKIN sighting now showing you how it's done...
The other GREAT PUMPKIN that "hopers" voted in to office in 2008 was meanwhile spotted enjoying himself some Ocktoberfest...
Anyway, for TRADERS in a flux about this, I should remind any 3lb followers that 1186 is the MONTHLY 3lb REVERSAL... Needless to say... Charlie Brown's T-Shirt is still in play here...
Poor ol' Charlie Brown...
Great Pumpkin bitchez!
ReplyDeleteHow much have you made since the Tepper video?
ReplyDeleteWell, probably mixed, he spoke on 9/24 about trades he made well over a year ago (as an aside, several of us here were getting long then as well, there was a mountain of technical evidence that told you a large rally was coming, now everyone just credits the Fed)
you likely didn't just by S&P's if the Tepper video got you excited because he hyped banks right?, so you buy WFC or C, you probably made a little bit of money if you caught the bottom tick they day he spoke, you likely have lost or are even on BAC or JPM. Tepper probably paid a few bucks for BAC, not $14 so now the risk is completely different. There are other banks of course, so maybe you picked a different one, but if it's all about the Fed, as Tepper said, those would have been your likely picks.
@ben
ReplyDeleteTepper made his comments on 9/24...
AAPL has been the biggest, high flying beta in the whole stock market all year (well- probably in terms of a market cap + share price combination)...
It's 20% of the NAZ...
AAPL hasn't yet closed a DAILY candle higher that 9/24 since those comments...
8 days...
Nickles bitchez!
ReplyDeleteA dollars worth of nickles, now worth $1.24
http://www.coinflation.com/
CV,
ReplyDeleteyep, this was in response to BinT's ? on the other thread.
Also, if it's between Tepper and Rosie, well Rosie is the big gold bull, you made more in gold, and you bought something real at the same time.
... and didn't CV tell everyone, like, more than a year ago to expect this...
ReplyDeletehttp://www2.tbo.com/content/2010/sep/30/copper-theft-common-tampa-investigators-say/news-breaking/
EURUSD high 1.4022
ReplyDeleteYEN high 1.12180
Gold high 1362.40
USDJPY low 82.08
Silver high 23.51
DXY low 76.91
Weekly Claims +3k revision
EUC +157k
and futures are higher?
good morning! darling shirt, CV..
ReplyDeletewell, now I know what death by currencies feels like.
9/24 Dow 10860
ReplyDeleteToday 10976
up 116
1.06% in two weeks.
Please...what is the point? 27.56% yearly at that rate..
No one is saying that what the Fed is doing is good long term, but economic actions have economic consequences..
jimcramer - Wow. after reading this I will kill myself http://ow.ly/2PVGZ
ReplyDeletegreat macroman, today..BTW, check FXA!! up over 1 pt!
ReplyDeletePepsiCo Bummer:
ReplyDeletehttp://noir.bloomberg.com/apps/news?pid=newsarchive&sid=abCcN5RAgkHg
"1.06% in two weeks.
ReplyDeletePlease...what is the point? 27.56% yearly at that rate"
Bruce, silver's performance of late, if we are going to extrapolate trends like that, is pacing around a 700% annual rate of return (holy crap!), also likely a result, if we believe in efficient markets, of Fed actions.
why not go there instead?
From Graham Summers:
ReplyDeletehttp://www.zerohedge.com/article/three-horrifying-facts-about-us-debt-“situation”
put up a JJC chart.. 30 min candle is sight for sore eyes.
ReplyDeleteBen,
ReplyDeleteYou know I am a fan of yours. You and I have investor mentality, not trader mentality...me because it is my own money, and it wasn't easy. You because you value the future of those who have trusted you with their money.
I think a small amount of gold or silver here would be fine...somehow the old ideas that I had just before Volcker when I owned physical gold and silver have been distorted by the massive deficits and money printing to possibly be a second reason to own non-fiat money...
...I haven't done this myself, but I have pondered it over a cup of Folgers...
speaking of silver-
ReplyDeleteI was out in the back yard digging for some-
it's harder than you think
little data point:
ReplyDeletewhen both VIX and SPX closed in red 29 out of 40 times (73%) a green day the next day.
mchappy -
ReplyDeletefound the senate bill # S.2083 (H.R.3808) "Interstate Recognition of Notarizations Act"
ohio sec'ty of state brunner comes out against it and urges obama not to sign. as if he would give a sh*t about her opinion.
now, if the daily show were to do a number on it, there might be some effect.
Wells is not halting its foreclosure process in contrast to BAC and JPM..
ReplyDeletehttp://finance.yahoo.com/news/Wells-Fargo-Not-Halting-zacks-493987079.html?x=0
. . .I think I need a pickaxe- this spade isn't cuttin' it
ReplyDelete@ahab
ReplyDeletegotta use a mattock bitchez!
CV is like Paul Bunyan with a mattock...
ReplyDeletespy has a gap to fill at 111
ReplyDelete(just remember to buy the dip!)
@ahab
ReplyDeleteDon't chop your foot off though dude... :-)
although- I did see someone panning for gold at Great Falls NP- a stream off the Potomac- and the dude showed me the gold he found-
ReplyDeletewasn't much- but I was impressed nonetheless
Art Cashin On High-Frequency Signing, The Death Of Securitization, And Fleets Of Fed Helicopters http://bit.ly/9KXJbN
ReplyDeleteI do own some 1918-1920 silver dollars that my grandfather used to "pitch" (like horseshoes) with friends who came to visit on Sunday afternoons.
ReplyDeletebruce-
ReplyDeletemelt value of a silver dollar is $18-
not shabby
k -
ReplyDeletere three-horrifying-facts-about-us-debt-“situation”
loved this comment
by umop episdn on Thu, 10/07/2010 - 08:47
#631992
"The US Fed is now the second largest owner of US Treasuries.
That’s right, this week we overtook Japan, leaving China as the only country with greater ownership of US Debt."
WE didn't do any such thing. The Fed did it, not me, not you (unless you actually meet some of these folks on your daily rounds). The Fed is not the same as the people of the US, and don't get me started on the gubbermint. I doubt I will ever see Owebama or any congresscritter at my local farmer's market.
***************
and of course the people at my farmer's market haven't the faintest effing conception of it.
if jjc breaks 49... it got close at 49.07. anyway, the great reflation may have be leaking helium..
ReplyDeletemattock?
ReplyDeletenow that sounds like a man's tool!
I better get myself in shape before I even consider one of those:-)!
Bruce,
ReplyDeleteI wear two hats, I invest for clients, I trade some of my own accounts. Maybe you dont' realize I've spent nearly every day the last 7 years working on trading skills nearly every day of the week and putting the skills to work in the markets. I'm willing to lose money speculating, most of my clients are not. I try to discuss both aspects here. If you recall, I was long and strong for the 2009 rally posted in real time at TBP, I got long when Tepper did and this was a trade, I was not investing, over one year later I'm advising most people to seek safety again, people mostly ignore that advice right now, most ignored me when I got long too. Have I messed up along the way....of course I have, but on balance I've TRADED the last several years better than most people I know and most market pundits.
Where am I today? I dont' try to fool myself that I'm so wise that I can sell at the top before everyone else. Other people have that talent, I just don't. I try to be in when I think the probability is way on my side to make money, I haven't seen that as a long indexer for a many many months now, but if we get three waves down from here to 1,100 or slighly lower you will watch me trade long here into the end of the year, while I didn't catch this leg in September, if you recall during the chop between 1040 and 1130 I was scalping long here over the summer despite my overall bearish view, those were also trades. It's right on these pages in real time. Since I dumped longs at 1,000 I've been biased to the short side for many months now but I still took long trades here and there, and while I haven't had a big move down to "ride" the short trades were mostly profitable, if you recall I was huge short for the January decline and caught the whole move down, gave some of that back but it was a good trade. My "retirement accounts" remain in bonds, I'm young, why should they be traded?, most of them have outperformed stocks by a long shot this year and have far superior 3 year returns vs. the market as well.
But here's the bottom line Bruce, I never made one single move over the last several years based on the Fed's actions and my subjective outcome ideas of what they'd maybe lead to, it was all based on technical analysis. To be clear, I don't have a problem with Tepper's trades, I do have a problem with him coming on tv preaching to a bunch of retailers well over a year after the fact that "it's that easy".
Also, re: silver and money printing
Is it that simple?
What did money supply grow by from 1980-2000? It tripled.
Silver and gold were the worst possible things you could have owned over that period. So let's say the Fed triples the money supply again, will that make gold and silver go up this time? What if they do it while outstanding credit declines, which dwarfs "money", what kind of inflation do we get as a result and how does that effect gold and silver?
This comment has been removed by the author.
ReplyDelete@ahab
ReplyDeletePanning for gold at Great Falls???
That means that the gold he got floated downstream from my place up the Potomac River...
Tell him I want it back... NOW!
@karen
ReplyDelete"Art Cashin On High-Frequency Signing, The Death Of Securitization, And Fleets Of Fed Helicopters"
---
CV has recently discovered that there are, in fact, some GOOD USES for fed helicopters...
new foto in thread
Hahaha, CV.
ReplyDeleteBen, excellent post!
Meryl Streep slideshow worth viewing.. see righthand corner of this link.
http://www.msnbc.msn.com/id/38770102/ns/business-real_estate/
CV-
ReplyDeleteyou better pan that gold before it floats downstream-
finder's keepers and all that
Huge bearish engulfing candle forming on GDX...maybe the end of the run for now?
ReplyDeleteand I have to give "non anon" a nod for his post last night-
ReplyDeletepage 3 indeed
@McF
ReplyDelete"What did money supply grow by from 1980-2000? It tripled.
Silver and gold were the worst possible things you could have owned over that period. So let's say the Fed triples the money supply again, will that make gold and silver go up this time? What if they do it while outstanding credit declines, which dwarfs "money", what kind of inflation do we get as a result and how does that effect gold and silver?"
---
I'll tackle that... I'm not saying that I'm RIGHT about this, but I'll offer a rebuttal...
You have to go back to the comment I made the other day (about the FRAMEWORK of the actual amount of above ground physical gold mined to date)...
I'll link it here (but I have to go back and find it)...
Basically though... this...
In this moment... If gold were to drop, say, down to $400 an ounce... Then a cartel of the top 1,000 "billionaires" in the world could pool all their resources together and confiscate 80-90% of the worlds supply...
They could, in effect, simply become their own bank and finance ANY government that wanted to do anything they wanted...
Of course, that's THEORETIC, because it would assume that if it were to happen, then people would accept payment for services, in gold (or certificates that were backed by gold...
But the way things are going... I'd make the leap that people trust GOLD a lot more than they do the worthless paper currency that's only backed by the full faith and credit in any sovereign government at the moment...
With gold at $1,350... These same "billionaires" could only buy about 25% of the worlds supply... (Which is about 96,600 tons @ $43 million and change per ton)...
So in a way, if you're a government, you have to play somewhere in the middle... Some governments, in fact, may prefer the price of gold to inflate to a price in which private wealth couldn't come along and confiscate it so easy...
There are a lot of variables tied in with the argument... But you have to look at it NOT so much as a "price" argument, but about a SUPPLY argument...
It's like water, or oil, or basic food... Gold has NONE of those properties, but throughout history it has been used as a surrogate for money... (which BUYS all the other things)...
CV,
ReplyDeletethanks for your thoughts, I do want to be clear up there that I am asking about the PM's, I do not know the answers, maybe we don't have real inflation and gold goes up anyway, I've been so wrong about gold it's not even funny, silver too.
ahab.. laughing.. i just followed that time sink! but i saw a post from Bruce about an FT video of Rosenberg rebutting Tepper.. so i'm now sinking time into trying to get it to play!
ReplyDeleteoops ooop ooops! jjc tagged 49!! this is big stuff i tell you.. its gotta break it tho..
ReplyDeletegold profit taking.. rolling my eyes..
ReplyDeletekaren-
ReplyDeleteyeah the 10th picture of her is quite staggering- I really like her pretty green eyes-
lol
@McF
ReplyDeleteMostly what I'm trying to say is this...
I agree 100% with your view (and logic), that it is ERRONEOUS, in the way most people do, to make a correlation between INFLATION and precious metals prices...
Frankly, I think, like yourself, that people who view the situation from that lens are being one dimensional...
My logic, as always, has to to with infrastructure & power...
Imagine yourself in the middle of the desert with a bag of gold coins, and oasis (with a water well), and a bunch of machine guns...
Someone dying of thirst who stumbled upon that oasis, what would they COVET first?
THE WATER, naturally...
Let's say you were DEFENDING the oasis... And someone came along with something interesting of value...
What would you be willing to TRADE?
Interestingly... You'd probably be willing to TRADE some of your water...
Why?
because the straggler would be desperate to have it... And you probably had an idea of how much of it you could part with without compromising yourself...
What would you be LOATHE to part with?
Answer: Your machine guns... Because you'd never want to part with the thing that allows you to defend what you possess...
Anyway... when anyone talks about PRICE... They're talking about the COVET VALUE of any resource...
In a crumbling world economy... While it still is believed that normal goods and services are so easily exchanged (gasoline, food, water, electricity, etc.)... Though these things SHOULD be appreciated and COVETED, they're NOT...
I can say this first hand, because CV telles everyone on this blog every single day to "stock up" on certain goods, and all I get are hecklers out of the peanut gallery like DL, that the fact that I have lots of olive oil on hand is ludicrous...
But that's all well and good... Because all I need to understand is the fact that DL (or any of you other readers, writers), as bright as you all are, don't seem to place much importance on these things...
So... logically... One makes the leap to the next PHYSICAL item down the line that you potentially MIGHT covet...
Since everyone is a trader, and knows asset prices... That NEXT item might be gold, or silver, or copper...
It could be stocks too (as you see the rise in the S&P)... But in a world that people are realizing that "paper assets" are only as valuable as the PAPER used to purchase them... If that PAPER is worthless, so is the asset...
You MUST HOLD THE PHYSICAL...
In that sense, "bids" to purchase those goods can go up...
How much is the last gallon of water on the shelf in New Orleans worth after Hurricane Katrina... There's not even a price on it... It's WORTH putting a bullet in your ass...
14 ways to dismantle a monstrous government, one program at a time
ReplyDeletethere is nothing I don't agree with here
Ben,
ReplyDeleteAs I said, I am a fan of your careful analysis before investing. It is the way I look at it too, so why wouldn't I be?
Sometimes when I read other folks' comments about various analyses and patterns as a tool in making their decisions, I wonder if there is any time in history that we've had a prolonged global ZIRP and looked at how that affects the outcome of the head and shoulders for instance..does it change the expected result?
These very low forced global interest distortions make me wonder if they distort the models and how do you account for the distortion if they do?
Man, I really loved that post by BR yesterday about being right or making money and the comments it drew out. Awesome case study.
ReplyDeleteHere's a thought, if someone has clients and you manage their money and you are supposed to toss aside morality (like owning what you hate) in order to provide those clients with returns because that's your job, then what's the difference between that and a realtor selling a house to some schlub for a price that is way way overvalued in the midst of the RE bubble knowing full well that perhaps the buyer couldnt' really afford the house and would possibly get foreclosed on. Wasn't the realtor just trying to make more money for their client? It would seem to me that people have destroyed realtors for doing this but many of the same people think it's ok for a portfolio manager to sell overpriced assets to someone in the name of making money for their clients.
What's the difference between the two team?
well . . .I've decided to corner the silver market-
ReplyDeletedo I have any investors?
hello?
Bruce,
ReplyDeleteyou're my boy man. I really enjoy getting in these discussions with you.
As for the models, well, I don't know what ZIRP has done to some of them, I've never used a model or an algo, etc but I'm pretty sure some of them have needed changes as a result of Fed policy. I don't really see that it's impacted something like an H&S though, I can't remember exactly what update it was in but Andy has shown recently an inverse H&S that played out perfectly during ZIRP, the Head is the March 2009 lows...so not only did it "work" in ZIRP but also during QE 1. I think this is maybe where I separate from a lot of people, just trying to remind myself that it isn't ZIRP that makes or does not make an H&S work, it's simply the probability, because H&S doesn't ever work 100% of the time, but the reaction.... this is always what happens though, people rush to find an exogenous cause to explain why the markets did what they did, right now everyone says the markets are up because of the Fed, when they can't a reason in the news of the day it's called "technical".
of course, re: models, barry and Kevin Lane created a quant model for Fusion and I don't think they've changed it at all since this all started. If he said he tweaked it as a result of policy I missed that...wonder if they did.
ReplyDeleteyou guys really should be paying attention to $copper : )
ReplyDeleteokay- I've had enough fun here-
ReplyDeletegotta roll
but if you'd rather watch the dollar, crude, gold.. that's okay, too.. euro at low of day, btw..
ReplyDeleteahab, thanks for the 14 Ways! I emailed it to several loved ones : )
ReplyDelete@ahab (10:59)
ReplyDeleteSome nice proposals... But CV, as always, hates GRAND DEBATING SOCIETIES...
Here's another riddler 4 you...
How do you dismantle a snake?
The ANSWER to that question, IMO, is the preferred tactic to coming up with meaningful change, and begin embarking on something useful...
As a trainer, I'd get clients coming to me all the time asking how they drop 30 pounds...
The first answer that always comes into my head is:
"Go out the door, turn south, start walking... When you reach the tip of Tierra del Fuego in Argentina, turn around and come back"...
Problem solved...
Of course, CV's way of doing things are TOO COMPLICATED...
But go ahead and tell me how my plan "wouldn't work"... (Note: the actual geography is a metaphor)...
today's opening $spx ten min candle is a trip!
ReplyDeleteBruce -- I've wondered what all this intervention does to analysis, technical or otherwise, as well. It will be interesting to look back and see if some of Prechter's calls turn out to be very precise if measured in constant dollar terms, or in a SPX to price of gold ratio, or some other way that is beyond my ability to chart -- perhaps while reaching new highs (I hope not) in nominal dollar terms? I don't know if it is the computer involvement or the government intervention, but it seems to me that the market is evolving at an ever increasing pace, and that just as quickly as I learn a new trick that same skill is now outmoded. At first, I loved the challenge. Now though...olive oil is looking a lot more appealing. More propane tanks for the grill sound nice too. I'd have more frozen chicken in the deep freeze, but I'm sure that as soon as I take that plunge we'll have some horrific power outage and I'll lose it all.
ReplyDelete@McF
ReplyDeleteOn the subject of BR...
Unfortunately... TWSWB has "sold out" on anyone respecting him in some grand sense...
He's shown his colors to be that of a typical, money grubbing, Wall St. type (who blogs), who tries to cover it up sometimes by "slumming it" with the dregs...
he reminds me of one of those jewish suburbanites trying to "kick it" with the cool hip hop crowd...
Here he is... (being FLY as he can be)...
http://www.youtube.com/watch?v=nzY2Qcu5i2A
Jennifer back at lunch...swamped..we'll trade electrons...
ReplyDeletei love the line, "everything he lacks, he makes up in denial." I think I know someone like that !!
ReplyDeleteCV,
ReplyDeleteIt seems to me there were a lot of money mangers, Barry aside, that were quick to be critical of RRE agents but now that the bubble has moved back to equities, it's cool to do what I described above, you know, because now it's about THEIR job.
@McF
ReplyDelete...nobody circles the wagons like... THE BUFFALO BILLS (&TWSWB)
Interesting that TLT is down...Karen, JJC couldn't manage to stay below 49 for more than one candle, but I'm still hoping. I got some FCX puts yesterday near the HOD that are up about 20% so that's nice.
ReplyDelete"it seems to me that the market is evolving at an ever increasing pace"
ReplyDeletehere is how I visualize this, because I don't think this is a right now thing, I think it's an all the time thing.
Look at the spiral, the geometric shape that represents the golden ratio, 1.618:
http://jwilson.coe.uga.edu/emt669/student.folders/frietag.mark/homepage/goldenratio/image19.gif
now look at the nautilus shell
http://29.media.tumblr.com/tumblr_kua9raXMO61qas3eno1_400.jpg
if one were to carefully review the two, what they are going to notice is that the shell does not exactly follow the golden ratio, it does in the center, but the further it goes out, or "grows" the less it conforms.
One is mathematical theory, one is what happens in real life.
the markets, iow, are always evolving, much in the way the nautilus shell does not need an outside force for this to occur within it's shape, I believe the markets would evolve regardless of what was being done with monetary policy. I think often times we might mistake exongenous events changing the market due to our applying mathematical theory to real life.
jmo of course.
@McF (11;38)
ReplyDeleteSame with the CHARLIE BROWN T SHIRT PATTERN
I'm tempted to get involved in the dollar in a little bit bigger way here
ReplyDeleteahab -
ReplyDeleteglancing thru "14 ways to dismantle a monstrous government, one program at a time"
i saw
"The best alternative is a world in which spectrum is freely tradable private property rather than a government-managed resource, interference is treated as a tort, and no one worries about whether their next on-air word will result in a seven-figure fine—in other words, a world with no FCC at all."
as if msm isn't already a corporacracy fiefdom, i immediately imagined the u.s. equivalent of a berlusconi media monopoly empire electing its ceo/owner to the presidency, but then our two-party system obviates the need for that, i suppose.
@karen
ReplyDeleteLOL...
I wonder what the "hand signal" in the Hamptons is...
http://1.bp.blogspot.com/_XI_cHscGGzw/SxV8RbaAHoI/AAAAAAAAAHU/wwaq__95xrs/s1600/lololololololo3hu_000.jpg
@72
ReplyDeleteIt's already like that...
At least in Italy though we get to see skimpier dresses on TV...
AIG shouldnt have been backstopped but dismantled, imo.
ReplyDeletehttp://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aRbpccRyrOZY
for third day i would like to point out this chart: HYG:LQD
ReplyDeleteWOW! Larry Hagman wins 11.5 million arbitration against Citibank!!!
ReplyDeletehttp://online.wsj.com/article/SB10001424052748704696304575538003044488566.html?mod=rss_whats_news_us_business
UUP just turned green...
ReplyDelete@karen (12;00)
ReplyDeleteHmmm... Tomorrow's headlines today...
Now... Next week we'll be reading about "who shot JR" (in real life)...
...before the "settlement" payment, of course
ReplyDeletejust pulled up 21 year $xjy chart.. look at that multi year rev H&S.. says 125 to me.. but we are pretty close here.. previous high in 1995 was 123.33
ReplyDeleteFrom ZH...
ReplyDeleteWhite House Now Accepting Comments On H.R. 3808
Bill H.R. 3808, the Interstate Recognition of Notarizations Act of 2010, which was discussed yesterday, and which according to both Reuters and the NYT may have a material impact on mitigating the impact of the High Freq Signing scandal, at least on the servicers, is now open for public comments at the white house.
Those wishing to tell the president how they feel, may do so at the following link:
http://www.whitehouse.gov/webform/comment-legislation?billname=H.R.%203808%20-%20Interstate%20Recognition%20of%20Notarizations%20Act%20of%202010
We are confident the White House will promptly disclose all the "well-mannered" comments advising the administration on all sorts of anatomically impossible acts it should engage in should Obama sign off on this.
---
Great... So now here's your chance all Survivor Capitalists, to go in, type in your name, address, & contact number (including IP number from your computer)...
To get yourself IMMEDIATELY put on a "terrorist watch list" if you disagree with anything Obama is doing...
or... If your internet handle is "Franklin411", or "venndata"... you might get yourself a cabinet undersecretary position...
pls look at daily candle chart of EEM
ReplyDelete@karen (12:12)
ReplyDeleteYeah, CV remembers 1995 real well...
If you were walking around doing window shopping at Versace & Fiorucci in Duomo (in Milano), you'd swear you were in the middle of downtown Tokyo...
BTW...
ReplyDeleteCV's "notations" (over about the last 4 quarters), that the C share price rises to wave peaks which culminate just prior to their quarterly EARNINGS release has been about as reliable as CRUDE THURSDAYS was last year...
But now that it's obvious... try trading it in the future - lol...
CV will make a footnote here... KIDDING ASIDE...
ReplyDelete(re: my 12:15 comment)
Think about it... If the WH is offering this chance for citizens to VOICE something about HR 3808 - think about what, psychologically, is attached to that...
Here's how it plays out... IMHO
- OWEBama already knows he's going to sign it... But he has to do this little dog and pony show to prove he's a man of the sheeple...
- The banks... (the beneficiaries), know he's going to sign it too... But EVERY BOOKMAKER WANT'S A SURE THING... You don't any "black swans" being launched at you from the dirty Romans...
- So maybe we're in for a little "rock the markets" moment... Just for a couple of days until the bill is actually signed...
You know... just to show who is boss...
What's a couple of days amongst co-conspirators?
http://www.denverpost.com/business/ci_16169973
ReplyDeleteColorado's new jobs during recession come in at low pay
"Some local industries managed to hire hundreds of workers during 2008 and 2009, a period when Colorado lost more than 105,000 jobs. Unfortunately for job hunters, most of the new positions paid wages substantially below the state average.
"We have seen an across-the-board drop in wages," said Alexandra Hall, the state's chief labor economist. "It is still a buyer's market."
The Denver Post sorted through hundreds of industries to find those that boosted employment in 2008 and 2009, using numbers culled from unemployment insurance reports that employers file each quarter. Of the 12 industries that added the most jobs, eight paid below the average annual wage of $46,813 for private-sector workers in the state.
Looking at jobs added and pay in the 21 industries providing the most jobs, The Post calculated how much workers gained or lost compared against the average. The answer wasn't encouraging. The positions created paid $185 million less than if they had simply matched the state average."
..Nearly caught up...I doubt that Colorado's experience is atypical..
You gotta LUV this post (tho I remember LB saying this a few weeks ago..)
ReplyDelete"The U.S. Federal Reserve, which is in charge of the world’s reserve currency has gone completely and totally insane. Every time the stock market is down 2 points some maniac academic with a printing press delivers a speech about how much money they are going to print, basically daring anyone to short or sell the market. No one is smart enough to know how much QE is priced into the market, is it $500B? $1 trillion? $3 trillion? No one knows, but what we all do know is that the Fed through its non-stop yapping has now set up the ultimate moral hazard in financial markets. It doesn’t matter if all of the economic data miraculously comes in extraordinarily bullish over the next three weeks. The markets have put the Fed into the biggest box they have ever been in. They must do QE2 at this point and they probably have to do it big. The problem is, with the equity market up at the levels it is I don’t think ANY amount of QE2 will cause a rally. In fact, this might be the biggest “sell the news” event in the history of the stock market."
http://www.zerohedge.com/article/guest-post-biggest-sell-news-event-stock-market-history
@karen
ReplyDeleteI read that yesterday and I agreed 100% with it...
In fact... Yesterday I was going to make a comment on that exact subject...
Basically... I was going to say how reminiscent this is to back in 2007...
Remember Cramer? "The FED knows nothing" rant?
That was in August of 2007... The FED did an emergency rate cut at the beginning of September and the markets went wild... Posted the ALL TIME high in October 2007...
Then what happened? They followed it up with a another rate cut in October, but by the December 2007 FOMC meeting, they only cut 25 basis points and the market took it like a ton of bricks...
January 2008 was the start of the BIG decline (that didn't fully capitulate until the Lehman crisis - after millions of band-aids were offered including the Bear Stearns fiasco, Hank's bazooka, and Fuld's "burn the shorts" comments - not to mention FED SPEAK)...
Anyway... My point is that it's the same kind of scenario now... (August being the Jackson Hole comments - followed by Tepper)... and the market is going bananas...
But wait to see what the Fed actually does... Who really cares? 500 billion? a trillion? 5 trillion?
No matter what... It won't matter... It's going to be taken just like that 25 basis point cut in December 2007...
THUD!
Read this comment!! Right up my alley : )
ReplyDeleteby Yikes
on Thu, 10/07/2010 - 11:45
#632607
Why do we still talk of "printing presses". Hell, if they actually had to physically print all this money, it would actually slow down this insane process. We don't print money anymore: We create it out thin "digital" air.
You see...
ReplyDeleteAfter 2008... And with the faulty response by the Obama Administration to recognize and deal with the problem...
Wall Street has only learned one thing... That it... YES WE CAN hold governments hostage... All we have to do is tank asset prices and create a crisis anytime we want something...
It's like that creepy person that's renting a room in your house... You're afraid to kick them out because you think if you do, they'll slash your throat or burn your house down...
Wall St. is going to bid up asset prices as far as they can... (but not really too high - IMO)... Because the only way to get more candy is to precipitate another crisis...
Program Trading Rose Last Week On NYSE; Volume Also Up
ReplyDelete12:43 PM ET 10/7/10 | Dow Jones
Program trading volume on the New York Stock Exchange grew in the week ended Oct. 1 from a week earlier, as total volume also rose, according to the subsidiary of NYSE Euronext (NYX).
Overall trading has been muted of late compared with historical standards. Still, U.S. stocks defied expectations last month to register their biggest September rally since 1939. The Dow Jones Industrial Average rose 7.7% in September, traditionally the worst month of the year for equities.
Daily program-trading volume was 677.3 million shares last week, or 30.8% of the average total of 2.2 billion. That is up from 597.6 million, or 29.4% of the average total of 2.03 billion the prior week.
The most active NYSE member for program trading last week was Goldman Sachs Group Inc. (GS), followed by Morgan Stanley (MS) and Credit Suisse Group (CS, CSGN.VX).
Program trading encompasses a wide range of portfolio-trading strategies involving the purchase or sale of a basket of at least 15 stocks.
@karen (12:49)
ReplyDeleteI kno right?
I was laughing while watching that ROGERS video yesterday because he was talking about cutting down all the trees to print...
First of all... Dollars are mostly cotton (not paper)... So ROGERS, the commodity genius, is on the wrong track there...
2nd... It's not "printed" anyway...
I'm sure he knows these things, but the fact that he expresses himself that way is kind of comical...
@mcF
ReplyDeleteone more little wave down, and would that look like a "5 down impluse" to you?
Just asking your view on the look of it...
Lunch...by the way, Who is that helping Karen into the helicopter?
ReplyDeletea must read: http://247wallst.com/2010/10/07/petrobras-busts-the-pice-ignores-oil-trends-pbr-bp-xom-cvx-cop/
ReplyDeleteB in T,
ReplyDeleteI was wondering the same thing.
consumer credit at 3..
ReplyDeleteIf this all holds - could be a big turning point - USO rejected hard at the 200 day, dollar turning up right at the long term trendline, SPX rejected just below the post flash crash high, EUR turns down at the 61.8 (I think) retrace.
ReplyDeleteif we ever revisit my top i'll twirl around, LOL. and i do need a new look.
ReplyDeleteDL, you have a real knack for jumping out of the wood work! you would make a great bogey man..
ReplyDeleteBruce, got popcorn? it's getting more interesting now.. carrots will have to suffice at my end.
http://www.businessinsider.com/australian-housing-bubble-pictures-2010-10
ReplyDeleteThat's me...
ReplyDelete...boogie man.
Karen,
ReplyDeleteI would hate to have a really big bet one way or the other right now..the voices of sanity on one side and the might of global governments on the other...
I recognized the shoes......
ReplyDelete:)
ReplyDelete@karen (1:12)
ReplyDeleteI mentioned yesterday that the last 2 times the dollar was at these levels...
Equities were MUCH lower 5 months out...
5 months...?
ReplyDeleteIs this the "molasses money" website?
Just sitting back waiting for 1150 to give way and watch everyone make a run for the exit at the same time...
ReplyDelete"might" of global government...
ReplyDeleteROR
What an oxymoron...
Go ahead and list for me the 10 most MIGHTY global governments of all time...
Then I'll proceed to show you how MIGHTY they all are...
Go ahead... List them here... It's free you know!
@bat
ReplyDeleteCheck out Denninger today. He has a few posts on that 'quietly' passed banking bill.
BR has a post up showing withheld taxes thru Q3 (sept 30).. constantnormal made the point, or asked, if this included taxes withheld on IRA to Roth conversions.. and I would add to that.. IRA cashouts..
ReplyDeleteinteresting anyway.. http://www.ritholtz.com/blog/2010/10/employment/
AmenRa,
ReplyDeletehopin' for some "bona fide" selling next week.
@Amen (1:25)
ReplyDeleteHere's the thing...
I'm counting what "seems to be shaping up" into a 5 wave structure down (which may terminate somewhere around 1146-1148 - I'm not real accurate with these little moves)...
Anyway, that might set up for a "corrective bounce" back up over 1150... (say - back to 1152-1154)...
Anyway, if it's all true, I'd wait for the LATTER move to play out...
Basically the "2ND MOUSE" theory on giving up 1150...
my 2 cents
@DL
ReplyDeleteRead my (12:27), as a response to your (1:29)...
See? CV has answers to your questions before you even THINK them :-)
just got back from PIMCO meeting, not too much new, quick hits:
ReplyDelete1. do not expect Fed to raise rates until late 2011 at the earliest, would lean more toward 18 months from now. Made specific mention that Paul McCulley was invited to Jackson Hole, the first "outsider" to be invited. Expect rate increases to be in .25-.50 increments but never more, and they will be well telegraphed, they do not expect a 1994 scenario with rates.
2. No inflation expectations for 30-36 months, though they are not in the deflation camp.
3. Think in general equities are overvalued and prefer dividend stocks and some emerging markets in that space if you want to position there. Even the in house equity guys are too hopped up on what returns will be the next several years.
4. Expect a tougher road moving forward with bonds, PTTAX expects to do 3-5% in 2011 in total NAV return. They have moved further out the curve within the fund, also still own some muni's in there so they remain somewhat bullish that space, you aren't buying munis in a taxable fund if you think the return isn't going to be there. They think the bond bubble talk is silly but of course a bond shop would. They believe the media has incorrectly described bonds as all the same trade. They also say their first $1trillion in fixed income primarily came from institutions, and the next $trillion is going to come from retail.
5. No internal discussion that BG or Mohammed would ever leave PIMCO to run treasury, though because El Erian is more of an academic it's more likely he'd be the candidate and not Gross.
In short, I feel like I just had lunch with Leftback.
the thing about the Roth Conversion and taxes is it's going to be very hard to extrapolate since you could spread that tax liability out over 2 years if you converted in 2010.
ReplyDeleteCV, I do not have my charts pulled up right now, kind of all over the place today and doing some prep work for meetings tonight and tomorrow.
@DL
ReplyDelete"Is this the "molasses money" website?"
No my olive oil-less friend... It's called SURVIVOR CAPITAL...
IMO... A good way to SURVIVE is to hopefully have an idea of the landscape "5 months out"...
"5 ticks away" doesn't cut it in the SURVIVAL HANDBOOK...
If you had olive oil in your pantry - you'd know that :-)
Guess I better get some ol*ve oil.
ReplyDeleteedit:
ReplyDelete"Even the in house equity guys are NOT too hopped up on what returns will be the next several years."
you guys have me laughing so hard !! i'm also dying to make a lunch with leftback comment, but my lips are sealed in a smirk.
ReplyDeletetoday is New Moon btw...and I'm not talking about Twilight.
ReplyDeletekinda fun slide show:
ReplyDeleteCalifornia Prepares To Issue Marijuana Bonds If Prop 19 Passes
http://read.bi/bE6C2o
http://www.businessinsider.com/10-ways-to-play-the-coming-legalization-of-weed-2010-9
@McF
ReplyDelete"do not expect Fed to raise rates until late 2011"
BWAAAAAAAAAAAAAAAAAAAAAAAAAaaHH!
Any word on late 3011?
I guess you could roll up one of those M-J bonds and snort coke through it.
ReplyDelete@DL (1:37)
ReplyDeleteAmong other things, one can use it to lubricate one's hindquarters when one is holding SHORT positions when some fed dildo gets a microphone shoved in their beaker...
mchappy -
ReplyDeletetks. i managed to do the necessary google work and track down the press on HR 3808 (S2083).
responses of most family members and friends: shoulder shrugs
@Amen
ReplyDeleteoooh... This move to 1156/7 "could" signal the end of a mini wave 4...
Which would bring my (1:30) scenario into fruition...
basically...
- 1156 down to 1146/8-ish (wave 5)
- corrective wave up (back up to 1152/4-ish)
- BIG SELLOFF to ensue...
we shall see
Ok WTF was up with that move? Was it because the 30yr dropped below 3.70%? Or an orchestrated short squeeze?
ReplyDeleteFWIW...
ReplyDeleteI'm not making any moves here...
But if the rest of the move scripts out...
I'll be adding shorts...
me... being Charlie Brown and all...
ReplyDelete@Amen (1:59)
ReplyDeletethe latter... OR... my mini wave 4 completion (that nobody is paying attention to - because they feel guilty & they're shopping for olive oil)
@72
ReplyDelete"responses of most family members and friends: shoulder shrugs"
---
Not exactly like ATLAS SHRUGGING, is it? :-(
Grr...
ReplyDeleteI smell Oz at work here...
Bastids...
OT: http://www.tmz.com/2010/10/07/toni-braxton-bankruptcy-court-debt-50-million-debt/
ReplyDeleteCV -- bought some more olive oil when I stopped in for more milk. Knew you'd be pleased. Not happy with price action in my absence. Your wave 5 thingy can start any time now...please.
ReplyDeletethere are some good paragraphs in here:
ReplyDeletehttp://shadowcapitalism.com/2010/10/07/a-delve-into-the-current-discounting-of-qe-expectations-and-its-market-implications-going-forwardg-forward/
@jennifer
ReplyDeleteI can't say it'll happen now because I think it has just barely violated a wave principle numeric...
But the SPIRIT of something is brewing - anyway...
Y'know...
ReplyDeleteI try real hard to believe in the purity of the market, that anyone's control of the market is an illusion...
But when you see the shit that I see on the 1min chart day in and day out, its hard not to be a believer...
Real hard.
(a voice in the back of my dome keeps saying, "election, election, election, you idiot!)
@jenn
ReplyDeleteand as for the olive oil...
Store it in a cool dark place and it'll preserve for years...
It'll come in handy when you need it most...
On Thursday 7th October 2010, @mrtopstep said:
ReplyDelete$ES_F #futures we have posted this in the past... the #equities have a tendency to make a low the Thursday or Friday the week before #expiration. In SEPT even though the markets were up - it worked like a charm. with the #unemployment numbers out tomorrow we may have to wait on that... $$
@I-Man
ReplyDelete"(a voice in the back of my dome keeps saying, "election, election, election, you idiot!)"...
Oh I-Man please... tell me you're not one of these...
http://t2.gstatic.com/images?q=tbn:Y_uGSS52BbjPfM:http://i12.photobucket.com/albums/a243/tampa4funboi/faghag.jpg&t=1
Dont get me wrong though, making money is making money, and I'm still down to play ye old short squeeze...
ReplyDeleteBut the game is getting old, and I'm ready to play "long pukeout" instead of "short squeeze."
Well, ignoring EW, it looks to me like the ES came up for a little VWAP test which looks like a fail so far. FCX recaptured the 50 on the 5 min though...SPX got rejected at the 200. Conclusion -- I should have taken profits before lunch.
ReplyDelete@I-Man
ReplyDeleteplay LONG PUKE OUT
...but don't listen to me...
After all... THE ELECTIONS are right around the corner... lol
Whats sad is that someone who is really talented at reading the tape has to have sold out to those seeking control in order for them to play it this well...
ReplyDeleteThats my assumption anyway.
Probably a waste of brain to even think about it... it just is.
and governments are MIGHTY - and all that...
ReplyDeleteCV 2:29...
ReplyDeleteDude what the hell is that supposed to mean?
@I-Man
ReplyDeleteTo me it's much more simple...
What's SAD to me is simply...
People are morons... GIB bitchez! :-)
@I-Man
ReplyDeleteNothing... inside joke... CV has various themes going on at any given moment...
don't fret yourself with it...
Humbly speaking, the morons appear to be the ones taking their cues off the charts...
ReplyDeleteThey are the ones continually having their money taken at every critical juncture.
I know, because I'm one of them.
re: 2:36
ReplyDeletecool, I just wasnt sure of the context, thats all.
@I-Man
ReplyDeleteIt had nothing to do with you...
It had to do with a long standing volley with SO CALLED EXPERTS whose depth & flavor of technical analysis tends to run the gamut of ELECTIONS & other frivolous things, to actual study...
Hey... but ANYBODY can blog, right?
http://www.businessinsider.com/dallas-fed-president-fischer-to-ease-or-not-to-ease-2010-10
ReplyDeleteDon't worry, we can't all look like Christian Bale...but sometimes Christian Bale is off his feed, too...
ReplyDeletehttp://blog.moviefone.com/2010/09/16/christian-bale-freakiest-looks/
..Personally, I'd rather catch a ride in the helicopter.
I don't profess to be a wave counter, but this kinda looks like 5 up to me.
ReplyDeleteThis should make Ben happy:
ReplyDeletehttp://www.marksmarketanalysis.com/2010/10/aaii-sentiment-continues-to-rise.html
gag me with a spoon!
ReplyDelete"Senator Leahy understands the President's decision not to sign the Interstate Recognition of Notarizations Act, and he supports that decision," said a Leahy spokeswoman in a statement. "When Congress passed the legislation, no concerns or objections had been expressed. Now that concerns have been raised, Congress should reexamine whether this bill might have an unintended impact on foreclosures in the future. We certainly do not believe that is what Representative Aderholt and the other cosponsors of the legislation intended."
Pretty dire stuff, from one of my favorite bloggers...
ReplyDeletehttp://anonymousmonetarist.blogspot.com/2010/10/101010-stay-safe-my-friends.html
Dear Comrades In Golden Arms,
ReplyDeleteThere are a lot of new and weak hands in gold. THAT MEANS VIOLENCE.
We had a high today of $1366 which in my world is a bulls eye for Angel $1369. That means the Angels are functioning like a good Swiss watch.
Don't get a knot in your tights. The violence coming in gold has no peer.
From high to low you will see multi hundred dollar jumps in both directions before it reaches its fulcrum point.
Gold is going to and through $1650. That should be your mantra for financial survival now.
Respectfully,
Jim
USA TodaySun Oct 3, 2010
ReplyDelete1. Alabama
2. Ohio St.
3. Oregon
4. Boise St.
5. TCU
6. Nebraska
7. Oklahoma
8. Auburn
9. LSU
10. Utah
...Whatever Les Miles is investing in, I may want to buy some of that. No luckier individual ever stepped off the short bus...
dire.. you can say that again.. and chilling..
ReplyDeleteHmmmm....I live near a formerly great city by a lake. Is the market closed Monday?
ReplyDeleteFive year treasury..1.14.
ReplyDeleteCatfood in Paradise?
more on the terror alert:
ReplyDeletehttp://ca.reuters.com/article/topNews/idCATRE6964AP20101007?pageNumber=1&virtualBrandChannel=0
of interest: http://www.guardian.co.uk/culture/2010/oct/07/roman-helmet-sold-two-million
ReplyDelete@karen/I-Man
ReplyDeleteNonsense...
Just another attempt by the government (yes-the SAME government who is in the process of stealing all the gold out of your pocket in this very momnet), to say...
"We're the government... and we're here to help"...
That CNN interview was in 2006...
Bush was POTUS... How come it wasn't all DIRE (and taken seriously then)...
Huh? Why?
No... The ANSWER had to come from electing the present MORON into office...
So now we're supposed to take this all SERIOUSLY and be AFRAID... VERY AFRAID...
Get out there and vote DEMOCRATIC next month people... Obama has your back... He's telling you so with these warnings...
GIVE ME A FUCKING BREAK!
OK... So now I'll argue against myself...
So what if they're right?
What IF Bin Laden is a threat to nuke 10 million Americans...
Then guess what? The THREAT was made public in this interview in 2006...
Moreover... Bush, then, ought to be considered a GENIUS to get us into this war on TERRORISM and commit troop forces to the Middle East...
Which he the DEMOCRATS rode to win the White House, the Senate, & the HOUSE on in 2008 (by coming in on the OTHER SIDE of)...
Fucking political footballs people...
Have a glass of wine and sleep comfortably tonight...
Bin Laden isn't going to take over America by NUKING it...
He's going to take it over by convincing people that they need to elect leaders like Barack Hussein Obama...
He's going to do it by getting Muslims the majority vote:
- in France
- in England
- in all Europe
Then, he's coming to America...
HE's ALREADY HERE... Sorry, you shouldn't have left the front door open if you didn't want him in here...
Fools!
The usual 3:15 squeeze seems to have failed...
ReplyDeleteMish on tomorrow's jobs #s
ReplyDeletehttp://globaleconomicanalysis.blogspot.com/2010/10/gallup-survey-shows-unemployment-jumps.html
Grrr....my kids have a 4 day weekend and the market isn't closed once. Really should have taken pre lunch profits.
ReplyDeleteWell, this particular threat was detailed in "One Point Safe" (copyright 1997).
ReplyDelete@jennifer
ReplyDeleteLOL - That pretty much defines "grrr"
Jenn.. i think you have bigger profits tomorrow.. but i'm often wrong!
ReplyDelete@karen
ReplyDeleteGreat then... so take us back to Clinton...
Take us back to Ike & Truman for all the hell I care...
Political footballs people...
Jeez- I was just on a thread a month or so ago laughing my ass off about RACHEL MADDOW dressed up in full battle fatigues & armor at some OURPOST in Afghanistan interviewing troops...
and saying to her audience...
"I get it... I REALLY GET it now"...
Yeah, you get it because you're a liberal douche who happens to be the ruling party now... As soon as you're voted out of office, you won't GET IT anymore (just as you didn't before)...
Stop wasting my time with all of this!
CV.. you gotta like the date 10.10.10 and then it'll be fun to look at the clock at 10:10.. you know how i feel about 1s and 0s!
ReplyDeleteBottom line:
ReplyDeleteLIBERALS... Who now, (a month before an election), want to leak stories to the media that make everyone FRIGHTFUL about national security, and try to CLOAK themselves in a robe of concern are the giggest fucking hypocrites on the planet...
CV's PROMISE... NOW
If and when the GOP win seats (and "control" of something)... I promise that I'll come out with some other thread comments that expose them for their degree of hypocrisy on whatever their FETISH DU JOUR happen to be that can herd a few fence straddling imbeciles to their side of the aisle)...
Tick tock. Tick tock. Almost time for the 3:40 move. Gotta love these BS markets.
ReplyDeletetoo bad it didn't fall on Monday.. that would be an amazing market crash date for the history books.. 10-11-10 is at least all ones and zeros.. beter than 10-19-1987.
ReplyDeletei, myself, have always been undone about 9-11 and 911 (or nine-one-one) being the same numbers.
@karen
ReplyDeleteAs far as I know...
101010
is only the digital representation of an foto converted from analog of barry Ritholtz shopping for a yacht...
great traderMark!
ReplyDeletehttp://www.fundmymutualfund.com/2010/10/dollar-to-s-500-relationship.html
@Amen
ReplyDeleteI want to know why...
when we hit 1151 today...
if you look at the RSI & MACD, (on 1 min charts), there was no bullish divergence... Instead, just a straight bounce off the bottom...
My opinion...?
These algos might be able to VEX certain things (like elliott waves & fibo levels)... But they can't undo the aggregate of ALL technical indicators...
Time and propensity will be their eventual undoing...
Brian Sack can only spin so many plates...
hey guys, dont' forget about Martin Armstrongs forecast for gold!
ReplyDeletealso, want to hear public thoughts on radio, put on a right wing host and go ride in your car for an hour like I just did.
ReplyDeleteIt's amazing, I feel sad for people. So much misinformation and confusion.
@karen (3:37)
ReplyDeleteperfect chart...
it's what I explain to all my golfing buddies (that have their 401k's all in stocks, and laugh at me when I advise caution on stocks)...
GREAT... Let AAPL go to $1,000... Guess what... Your loaf of bread will cost $10...
CV... Instead... collects NICKLES in change...
Today, I exchanged another $10 roll of quarters at the bank for 5 $2 rolls of NICKLES...
The happy, smiling, bank teller, didn't know that I'd just profited 24% on the exchange...
(well, a little less today... but hey... I only paid a buck for a buck - with NO TAX, right?)
@McF
ReplyDeleteThe right wing radio hosts are as bad as the Rachel Maddow's & Keith Olberman's of the world...
no doubt CV, but I think they tend to talk about the stocks that Obama made go up, the right wing seems more the gold party wouldn't you say?
ReplyDeleteCC contracted by 3.3 billion, you know, not that it matters since it was "less than expected" and what with all that inflation that is coming...eventually.
ReplyDeletealso, just got notice for our little shops health insurance premiums for next year.
ReplyDeleteOurs went up 12%.
McFearless,
ReplyDeleteThe stock rally since 9/1/10 is in anticipation of a Republican takeover of Congress.
McF @ 3:52
ReplyDeleteI've noticed that, over the last few weeks, some insurance companies have raised their rates. Other companies, not in the insurance business, have announced changes in their health care coverage, companies like 3M and McDonald's. It's an odd coincidence that they're doing this so soon before the election.
@McF
ReplyDelete"the right wing seems more the gold party wouldn't you say?"
---
Not necessarily...
Here's a COMICAL view of how I see it...
I tend to come down harder against LIBERALS because it seems to me that if you put a bunch of them together on a farm, they'd all stand around and look at each other, trying to decide BY COMMITTEE what the best way to go would be... Then end up never putting a seed into the ground or growing any food...
CONSERVATIVES? well, there'd be at least one or two of them who would just do the work on their own... The rest of them would bully around and kill each other to gain control of the fruits of that harvest... You'd end up with most of them dead... But in the end, one or two would survive, and life would go on...
In the LIBERAL way... Nothing is produced and they ALL die singing "kumbaya" and dreaming about food...
@Right Wing Pundit
ReplyDelete"The stock rally since 9/1/10 is in anticipation of a Republican takeover of Congress."
---
So tell me...
IF the stock market now crashes or corrects sometime between now and the election...
How does your theory stack up then?
CV,
ReplyDeleteIf the stock market corrects before the election, there'll be lots of ways to blame it on the Democrats.
@Right Wing Pundit
ReplyDeleteOh - But I guess that would never happen...
because - of course - your THEORY is CORRECT before it ever happens (based on price movements over the past 6 week)...
The fact that ONE BAD DAY could eliminate or wipe out those gains in an instant is of no concern to you...
DL,
ReplyDeleteeh, you know it's not a coincidence.
CV,
ReplyDeleteWhen the market goes up, it's because of the Republicans.
When the market goes down, it's because of the Democrats.
Got it?
Hilarious commentary from my son on that anon-monetarist link:
ReplyDelete"There are plenty of things out there far more dangerous than terrorists. They are just less scary. If you can think hard about all of the horrible things going on all the time, or that could start happening two minutes from now, terrorism recedes to irrelevance.
And horrors aside, even banalities are more dangerous. Cars. Eggs, probably.
The fact that we don't have to regularly confront all of the true terrors of the present and possible future, that the worst thing we have to fear is 10/10/10 or whatever, is testament of how good we've got it.
Only one person is going to get between me and my enjoyment of this spacerock, and that's me."
"And possibly, Rudyard." (his brother that was in the hospital, LOL!)
@Right Wing Pundit:
ReplyDelete"If the stock market corrects before the election, there'll be lots of ways to blame it on the Democrats."
---
Fair enough... Now I'll add my own:
"If the stock market corrects before the election, there'll be lots of ways to blame it on:"
- Planets
- Biorhythms
- China
- The Globular Cluster
- Dancing with the Stars
- The 101010 alignment
- Cardinal Crosses
- Hindenburg Omens
- Death crosses
- Liverpool football
- Nouriel Roubini
- Tepper
or my favorite... wait for this... DRUMROLL (accompanied by a fife & flag)...
GEORGE BUSH!
bada boom
Kudlow,
ReplyDeletedude, it's 2010, not 2003, Democrats take credit for market rises these days VennData told me so.
Don't forget to buy my book next month!
ReplyDelete@kudlow
ReplyDeleteWhen the market goes up, it's because of the algos...
When the market go down, it's because they shut the machines down for maintenance...
Got it?
adbe up big today, did Steve Jobs cut himself with one of those throwing stars?
ReplyDeleteninjas....