March 23, 2009

All Aboard?

32 comments:

Happy Snapper said...

Howdy all.

Happy Snapper here.

Still betting on good ol USA

Andrew from Russia said...

Well yes, but I don't like it one bit. I may be pressing the eject button anytime if this rally persists.

Anonymous said...

What time is the Titantic boarding?

Batman said...

The kind of bear rally head fake that leads to capitulation is when it pulls even the bears in and then smacks everybody down. I'm edging closer to buying this one, which according to the text book, means it has the potential to either be the bottom call or the mother of all whipsaws that squeezes out the last holdout. Man, I am curious to see how this plays out.

My gut had said S&P around 600 was bottom but...

Anonymous said...

Some more FOXES guarding the hen house...

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/22/AR2009032201335.html


Local Realty Executive to Direct FHA

David Stevens, of Long & Foster, is expected to be chosen to run the Federal Housing Administration.
David Stevens, of Long & Foster, is expected to be chosen to run the Federal Housing Administration.

David H. Stevens, president of Long & Foster, the Washington real estate firm, is expected to be selected today to run the Federal Housing Administration.

Though the Obama administration declined to confirm the appointment yesterday, sources said Stevens has been undergoing the required background checks. These sources spoke on condition of anonymity because they did not have the administration's permission to speak publicly.

If confirmed by Congress, Stevens would be the only FHA commissioner in recent years with a strong background in single-family home mortgages. After more than two decades in the financial services industry, Stevens has overseen every aspect of home financing, from originating mortgages to selling them on the secondary market. That experience appealed to the administration, the sources said......


Buyers remorse yet?...

Anonymous said...

Here we go, my GOP loving FIL will be calling tonight saying all is good because the market is up today. Then he will bitch about Obama is causing all the problems in the world in his short time in office. Better pour a big glass of wine.

Anonymous said...

All aboard the Fiscal Insanity Express: itinerary includes an abrupt stop at Fundamentally Flawed Accounting Standards and a sightseeing tour of the Betty Crocker School of Corporate Book Cooking.

Anonymous said...

Gravy X-press

patrat said...

Just a teeny little thing China might kinda want to do.

http://www.iht.com/articles/2009/03/23/business/imf.php

Kinda might be important.

Anonymous said...

Each and every one of these bastards needs to be shot in the skull, nothing less.

Anonymous said...

I think the roller coaster would be more appropriate.

Haven't seen that in a long time!

Anonymous said...

And remember a month ago they were all saying "don't buy the banks, don't buy the banks, they're toxic, they're going bankrupt," JP Morgan is up 50% in the past month.

THEY ARE ALL FUCKING CRIMINALS!!!

Mark in San Diego said...

Bill Gross is aboard, that's good enough for me. Pimco is basically advising the Treasury at this point. . .so don't fight it.

Don't fight the Fed

Never underestimate the American Consumer (Volker)

Guberville Smack said...

"The market is shedding some of its excess pessimism. That doesn't mean the market goes straight up," he said.

What he meant to say was:
"The market is shedding excess optimism. That doesn't mean the market goes straight down."

Wait until the next employment numbers and earnings.

DOW 5200.

Mitesh Damania said...

Hey look at all the baby boomers getting their health care.

http://www.youtube.com/watch?v=OSHZhgram2E

Geithner Sux said...

I'm not on it. The ride's great until you get the rickety collapsing bridge.

This is all burning nitro into the engine, it's only going to be worse off in the long run.

vanilla ice said...

F Geithner

BG said...

What the fuck was that? I don't get it.

Wind Farmer said...

This post will generate few comments.

It hath been foretold.

Went2puke said...

Aboard?!! It's OK suckers, just leave the station without me! I am still waiting for Mozilo to show up, and I am fine as I am. You will come back to the same station soon! Perhaps coming from the south to pick me up!

Anonymous said...

Sounds like you have visited Europe too much Keith. Fuck those Euro-Trash retards. I hear they are blaming us for this crisis.

Well, I feel sorry for them because they are a failed culture. All they know how to do is whine and act like little bitches. Grow up and act like us responsible Americans Euro-Retards.

Paul E. Math said...

I'm still on the commodities train (agriculture, gold and silver miners).

I'm also playing energy, specifically alternative energy, via 1 solar company, an etf and a uranium miner from my home province.

I missed the general equities rally today but I can live with that.

Commodities stayed pretty flat. To me, that says that, for the most part, people buying equities were not doing so with money pulled out of commodities.

Hindsight is always 20/20 but this rally looks predictable. I would expect another one if/when mark-to-market accounting is relaxed. After that I'll wait a few days, see how I feel, maybe buy an ultra short etf.

moretroops said...

Keith, I think I have it. My only beef with your site. I've been following you for a couple years now. By and large, your prescient analysis has been spot on. Color me impressed.

That said, there is a string of conspiracy paranoia that is, well, embarrassing. The question you pose on the main page says it all: Incompetence or Corruption?

The answer is plainly Incompetence -- as much as you'd like to think it's all a big conspiracy. It ain't.

You give Washington and Wall Street WAY too much credit. They're not that clever man. Seriously -- I know, I've worked both places. Most people there go about their lives with blinders on. Just like the rest of us. They want their nut.

It's not a plot.

So drop the "Obama Deception" they're "evil" and "grifters" nonsense. Sure, there's corruption, and plenty of it. But to suggest this is some sort of vast NWO plot makes you look like a joke. (Frankly, I think it's just a secular replacement for religion -- a need to believe in a higher power -- a fear of randomness -- but whatever.)

My two cents.

Mitesh Damania said...

Eliot Spitzer and the AIG bailout:

http://movies.crooksandliars.com/GPS-Spitzer-Accounting-032209.wmv?mid=7645

Anonymous said...

Keith,
Just a short note to express my appreciation.

Not to get too hopey-feeley or anything, but...

Long-time "Anonymous" here, and I feel compelled to tell you (remind you) that you have a very unique and important place here that you've created.

Rough on the edges, maybe not as "sophisticated" as others (that's a compliment, btw), but way moreso than others, too...

but most importantly, oh-so-accessible to anyone who wants to stop in. For a brief visit, or for the duration.

(And that's not easy to do)

Kudos to you, my friend.

Keep up the good fight.

-- Anonymous Dude

Anonymous said...

No way. It's a bear market rally. We haven't seen bottom yet. Besides, I thought you were gonna stop making market calls after that disaster bottom call you made on HousinPanic when the DOW was at 12,800.

Anonymous said...

Is ECB on board too.

http://www.bloomberg.com
/apps/news?pid=20601100&
sid=aln6d1zss0E0&refer=germany

Weber Says ECB Has Room to Lower Interest Rates Again

European Central Bank council member Axel Weber said while the bank has leeway to cut borrowing costs again, it should also be aware of future inflation risks.

“We still have room to cut interest rates further,” Weber, who heads Germany’s Bundesbank, said in a speech in Berlin today. “But it is essential to bear in mind that an expansionary monetary policy comes at the price of creating a breeding ground for future risks to price stability.”

Anonymous said...

Is the ECB worry about another Euro Dollar war

http://www.reuters.com/article
/economicNews/idUSN2354132120090324

European Central Bank President Jean-Claude Trichet said on Monday the bank could cut its main interest policy rate further to try and jump-start economic growth in the euro zone.

Anonymous said...

Anyone wonder why Russia and China wants a new Reserve Currency of the World.

If they can only get OPEC to get on board, then things may happen.

http://news.goldseek.com/
GoldSeek/1237478880.php

One of the biggest out-growths of the BoJ’s fixation with the hallucinogenic QE drug and ultra-low interest rates, was the spawning of a $7-trillion “yen-carry” trade, which vastly inflated global stock markets worldwide, and in the end, boomeranged on the BoJ, when the carry-trade unwound, - propelling the Japanese yen to 16-year highs against the dollar, and driving the Nikkei-225 index to 26-year lows.

Another unintended consequence of the BoJ’s overdosing on the QE-drug, has been the multi-year bull market for Tokyo gold, which tripled in value in yen-terms.

Repeating the same mistakes of the past, the BoJ has slashed its overnight loan rate back to 0.1%, and is boosting its JGB purchases by a third.

Right on cue, the Tokyo gold market rebounded from 70,000-yen /oz in October to as high as 90,000-yen today, compliments of the BoJ’s money printing machine.

Anonymous said...

Do you remember what happen last year when inflation took over.

http://money.cnn.com/news/newsfeeds
/articles/djf500
/200903231215DOWJONESDJ
ONLINE000441_FORTUNE5.htm

The following chart is a selection of some first-quarter announcements of job cuts since the beginning of the year.

Anonymous said...

"...The answer is plainly Incompetence...a big conspiracy. It ain't...

...Washington and Wall Street...I've worked both places. Most people there...[are]Just like the rest of us...

It's not a plot...randomness..."


Methinks the lady doth protest too much.

rescu-bail-ed said...

BTW. A very bad sign for the dollar - Yahoo Finance deleted the DX-Y chart ! Ruh-Roh !
(At least you can still see it on Bloomberg.)