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FatalWishes
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LOL, VIX hit 42 and bounced and oh boy what a reversal.
http://stockcharts.com/h-sc/...p40574660801&a=126579748
Just when all seemed lost. Even I thought it was game over. Then they mention the RTC in the darkest hour. Same thing they used during the S&L scandal. This is way worse..I'm not sure if it is going to work but the technicals on 40+ on the VIX was dead on. We didn't drop far enough on the dow.
They should take the warning labels off of everything and let stupidity sort itself out.
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DanG
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House of Cards
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October
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FatalWishes
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We'll see. The SEC just banned all short selling. That was not the problem. The flood gates are now open for full on selling. They may have made a bad situation worse. We are in such new and uncharted territory I don't think anybody really understands what is going on. It's cool to be watching it though.
They should take the warning labels off of everything and let stupidity sort itself out.
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FatalWishes
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Remember I called the bottom of the housing market a while ago and it was time to start buying???
California home sales surge as prices plummet
http://www.breitbart.com/art...D939E5SO0&show_article=1
Pretty soon prices will start going up as the best deals are taken. Now is the time to buy while prices are depressed and interest rates are still at record lows.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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DanG
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don't see much good news in that article. |
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FatalWishes
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Oh I do. It means we are putting a bottom into housing. Its ugly and bad, and worse than many thought it would be, but its a bottom no less. The pits of hell bottom.
The really bad thing though is who is buying them. And a lot of them are being sold to over seas investors.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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We may be headed for a huge rally today. Anybody holding SKF is a dumbass. Watch the vix, if it spikes down today its going to be huge. Financial stocks are going to soar.
I'm taking every dime I have and buying JPMORGAN (JPM) premarket. I've never done that before. They are going to be the big boy in town now. Get used to it. They will be the leader of the financial sector. Their move up today should be HUGE.
Citigroup (C)should move up huge as well. Wells Fargo (WFC) would be my third choice. Oh yeah, Bank of America too. (BAC)
I'll make some quick gains on these and use those profits to buy some calls in the housing sector after a pullback and relax for a while if all still looks well.
I just cannot believe its over like that. Why didn't they pull out the RTC thing back in February? Why did it take so long? Just doesn't make any sense.
I think the short attack on Goldman Sachs and Morgan Stanley is over too lol. GS and MS are going to fly up hard. Short sellers are going to bleed out on those two. THere will be a whole group of traders going broke on those two stocks alone.
Since the gov banned short selling they all have to cover their shares. So with that volume and the volume of regular buyers...all hell is going to break loose.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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If you want to zig instead of zag....
http://www.bloomberg.com/app...BrJatCso&refer=worldwide
They should take the warning labels off of everything and let stupidity sort itself out.
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FatalWishes
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Stocks head for rally on word of gov't rescue plan
| Quote From Source: | NEW YORK (AP) -- Wall Street headed for a huge rally Friday after the U.S. government said it is creating a plan to rescue the nation's troubled banks from their souring debts.
If a plan is put in place to help the banking industry, it could help alleviate the uncertainty that has been sending the markets into tumult over the past week. Lending has grinded to a virtual standstill in the wake of the bankruptcy of Lehman Brothers Holdings Inc.
A plan has not yet been revealed, but the government made other big moves on Friday.
| | Click source url to view entire story. |
Source Yahoo BIz
Source URL:
http://biz.yahoo.com/ap/080919/wall_street.html
They should take the warning labels off of everything and let stupidity sort itself out.
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MattN
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| Quote: | That helped send the statewide median home price plunging 35.3 percent to $301,000 during the year ended in August.
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HOLY CRAP!!! When I was out there last spring (2007) average price in the area I was was over $500K!!!
Wowzers!
| Quote: | And a lot of them are being sold to over seas investors.
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Their money is worth more than our money.... |
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ghoster
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This isn't over with yet by a long shot, and if you buy into this you will regret it soon. Nope let the dust clear and then see where housing is at. Calling bottom is not easy and especially when you call, and then it goes even further down, then you call and down it goes. Pretty soon it is just an exercise in calling but not meaning anything. Housing will bottom when it bottoms, and that could be another two years. Folks, there ain't no jobs that will support these prices, so unless you are making a 100K a year don't even think about buying anything. Money is losing value faster than they can print it.
China is talking about it, but our media? Not so much. This will continue until the excess is drained out of the system we still have about 500 Trillion of derivatives out there that need to unwind and that is going to leave a mark. PLaying in this field will be hard unless you have a pipeline into the real information and it ain't MSM.
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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DanG
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these mini-rallies occurred before the major blood letting in the late 20's also.
I still see no reason to rejoice here.
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FatalWishes
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Bush team, Congress negotiate $700B bailout
| Quote From Source: | WASHINGTON (AP) - The Bush administration asked Congress on Saturday for the power to buy $700 billion in toxic assets clogging the financial system and threatening the economy as negotiations began on the largest bailout since the Great Depression.
The rescue plan would give Washington broad authority to purchase bad mortgage-related assets from U.S. financial institutions for the next two years. It does not specify which institutions qualify or what, if anything, the government would get in return for the unprecedented infusion.
Democrats are pressing to require that the plan help more strapped borrowers stay in their homes and to condition the bailout on new limits on executive compensation.
Congressional aides and administration officials are working through the weekend to fill in the details of the proposal. The White House hoped for a deal with Congress by the time markets opened Monday; top lawmakers say they would push to enact the plan as early as the coming week.
| | Click source url to view entire story. |
Source Breitbart
Source URL:
http://www.breitbart.com/art...D93ANOMG0&show_article=1
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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Indy
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Helping the little guy and restricting executive compensation? Bush isn't going to like this. Think he'll veto it?
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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Aerology
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Dance to the tune they call?
Big brother's (real estate) holding company, starts with the extension of the executive branch's power over the people, extending it to poverty, as well as war now?
How does it feel to be under both his thumbs?
*humming the song " Under my thumb" by Mick Jagger?* |
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DanG
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remember remember the 5th of november |
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FatalWishes
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ALMOST ARMAGEDDON
| Quote From Source: | The market was 500 trades away from Armageddon on Thursday, traders inside two large custodial banks tell The Post.
Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.
According to traders, who spoke on the condition of anonymity, money market funds were inundated with $500 billion in sell orders prior to the opening. The total money-market capitalization was roughly $4 trillion that morning.
| | Click source url to view entire story. |
Source NY POST
Source URL:
http://www.nypost.com/seven/...almost_armageddon_130110.htm
FatalWishes has attached this image:
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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DanG
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excellent post F.W.
but I'll say again, this is simply delaying the inevitable.
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got Cash ?
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FatalWishes
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12th bank failure of the year announced
| Quote From Source: | NEW YORK (CNNMoney.com) -- Ameribank Inc. was shut down on Friday by the Office of the Thrift Supervision, making it the 12th bank this year to go under.
The Northfork, West Virginia bank had total assets of $115 million and total deposits of $102 million, according to a statement on the Federal Deposit Insurance Corporation Web site.
The FDIC was named receiver and announced that it entered into purchase and assumption agreements with Pioneer Community Bank, Inc., Iaeger, West Virginia, and the Citizens Savings Bank, Martins Ferry, Ohio, to take over all of Ameribank's deposits.
| | Click source url to view entire story. |
Source CNN Money
Source URL:
http://money.cnn.com/2008/09...x.htm?postversion=2008091920
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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Did you notice the $VIX went to 42.16 during this almost Armageddon?
http://stockcharts.com/h-sc/...p40574660801&a=126579748
That one little ticker can show you all hell breaking loose. You should get a glimpse of it every day. It is your main volatility indicator. Like the pulse of wall street. 30 and above is hell breaking loose. 35 and above is "shit hit the fan and its going to be ugly", and 40 and above is panic and mayhem. Armageddon.
I dunno how this will all play out. I know the alternative was to have everything fail. I mean money markets, bonds, the dollar...everything. The system would have collapsed. It would have been the worst case scenario.
I think this will fix it. They won't let it fail. They can't. It does change everything though. This is so big and massive I have no idea what it means for the future.
There will be more failures and shakeouts. This is such new and uncharted territory .....who knows how this will turn out.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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Fury at $2.5bn bonus for Lehman's New York staff
| Quote From Source: | Up to 10,000 staff at the New York office of the bankrupt investment bank Lehman Brothers will share a bonus pool set aside for them that is worth $2.5bn (£1.4bn), Barclays Bank, which is buying the business, confirmed last night.
The revelation sparked fury among the workers' former colleagues, Lehman's 5,000 staff based in London, who currently have no idea how long they will go on receiving even their basic salaries, let alone any bonus payments. It also prompted a renewed backlash over the compensation culture in global finance, with critics claiming that many bankers receive pay and rewards that bore no relation to the job they had done.
A spokesman for Barclays said the $2.5bn bonus pool in New York had been set aside before Lehman Brothers filed for chapter 11 bankruptcy in the United States a week ago. Barclays has agreed that the fund should continue to be ring-fenced now it has taken control of Lehman's US business, a deal agreed by American bankruptcy courts over the weekend.
| | Click source url to view entire story. |
Source Independent
Souce URL:
http://www.independent.co.uk...s-new-york-staff-937560.html
Doesn't seem fair that ANYBODY would get a bonus. They failed, they screwed over an entire planet with their packaged tainted paper, and they are going to be compensated? They should be dragged out and shot for helping with this financial upheaval, not paid.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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FatalWishes
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| Quoting Aerology - posted on 9/20/2008 at 20:58 |
Big brother's (real estate) holding company, starts with the extension of the executive branch's power over the people, extending it to poverty, as well as war now?
How does it feel to be under both his thumbs?
*humming the song " Under my thumb" by Mick Jagger?*
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Oh I agree. This is not good. Considering the alternative, what choice do we have?
I think many investors are not 100% convinced it's going to work. Wall street looks to be heading for a lower opening. I'm not moving my 401k over until I'm convinced this mess is truly over. Right now it just smells funny. This problem is too big and too messy to clean up in one day. I'll wait until the whole truth comes out. We've been lied to by every stinking banker so far. "Oh we are fine, we have plenty of liquidity" Every bank that has failed, every investment brokerage CEO has said that just before failing. I trust nobody with my money. Especially the government. They have to find a way to line their pockets first out of this deal.
I say this because they have stakes in this as well. They need to make their money back.
http://www.bloomberg.com/app...GBXG0C0s&refer=worldwide
They should take the warning labels off of everything and let stupidity sort itself out.
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Indy
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Yeah no market manipulation here. Look at this CNN.com headline.
| Quote From Source: |
Futures finish up $16.37 - after being up more than $25 to $130 - on the bailout plan, the falling dollar and the expiration of the October contract.
| | Click source url to view entire story. |
http://money.cnn.com/2008/09...x.htm?postversion=2008092217
Nothing short of a complete speculator ban from the energy market will stop this.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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chrisisasavage
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What pisses me off, is Ron Paul has been trying to tell Congress this was coming for some time. In the video's I've seen, when he has the floor, they're all rolling their eyes, like "not this kook again". |
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chrisisasavage
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I also fully agree that if we fully with him, that if we'd taken a more hands-off role in foreign affairs (ie, War, and sponsoring other governments) over the years, we'd have more capital to deal with this mess as a nation. Of course, to me as a voter, getting out of Iraq is still the #1 issue at hand, and something we can still do to help ourselves, so it's hard to be objective about someone who wants us out of there as desperately as he does. As he said in the "empire is going to fall" speech, we can't afford to be an empire. |
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![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 9/18/2008 at 16:57
