March 18, 2009
Dow was up again. What are you making of this?
S&P is up over 100 points off it's 666 (no, that's not a misprint) low.
Oil approaching $50.
Mark to market and the uptick rule about to get reversed.
Banks making money (forget about the write-downs)
Panic, desperation and despondency was in the air a few days ago.
Trillions being pumped into the system, with 0% interest rates.
Madoff in jail. Angelo coming soon.
Time to get happy?
Or should we be getting ready for the judgment day?
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25 comments:
sounds like inflation. show me the private sector jobs, excluding loan mods.
they make the game, they make the rules....get happy at your own risk.
Looks like the sheeple think a Depression is coming
So... either one is, or perfect contrary indicator
Amazing how quick we went from 90% thinking their home price was going to go up last year to now 45% thinking a Great Depression is on the way.
http://finance.yahoo.com/news/Poll-More-Americans-fear-a-cnnm-14660754.html
Poll: More Americans fear a return of the Great Depression
The number of Americans who think another Great Depression will occur within the next year is on the rise, a poll released Tuesday shows.
Forty-five percent of people questioned in a CNN/Opinion Research Corporation survey said another depression is likely.
"Will the Great Recession turn into another Great Depression? A growing number of Americans think it might," said CNN Polling Director Keating Holland. "Last December, 38% said a depression like the one the U.S. experienced in the 1930s was likely in the next year. Now that number is up 7 points."
More volatility on the way. Nothing goes straight down. By the way, there are some good buys out there. Some dividend stocks pay over 10% these days. Where do you put your 401K money these days? Treasuries? Think again! See, it is very difficult/impossible to get your money out of a 401K, I know, I tried. So that money has to go either into treasuries, bonds or stocks. Owning treasuries is like buying into this giant Ponzi scheme, the next bubble to bust.
On a different note, I think it is a big mistake to put Madoff in jail. "We" should fire Geithner and make Madoff secretary of treasury. I mean this man has experience running a Ponzi scheme like nobody else. Geithner is clearly in over his head and the Chinese are getting "a bit worried" about their US investments/treasuries.
God I wish I knew. I got a bunch of cash to do something more than earn 3% in CDs. On the way up of bubbles (tech, housing) once everyone is talking about it, I mean ever conversation. You know what I am talking about, remember the housing boom, try having a talk without the value of housing coming out. I have always thought once everyone is talking about a subject its over. Not sure if its the same on the way down, but it is starting to be that way with the down turn. I'm in a area that is not being hit as hard, but talking to others outside this area it does sound bad.
Looks like 666 was the bottom. Don't know but don't think retest is possible. Better get on to the bandwagon before it is too late.
My take on this is that it is no different than past bear market rallys. Some of the greatest short term gains in the US stock market were made DURING the Great Depression. It looks like a repeat of same from where I sit up in the cheap seats. My advice to anyone looking to make a guess about future movement would be to ignore the pretty window dressing and pay attention to the people and employment. Markets don't move in a straight line. Moods don't stay permanently sunny or gloomy.
Smug Bastard
I think all these turds on Wall Street are reading the book "The Secret" and trying to use that optimistic approach to everything and tune out reality and the truth. I mean I think they are buying just to spite us all. I was fucking CAPITULATION dude. I want a huge drop and a total purge of everything. Wipe the slate clean and start over using the truth, like P/E.
Oh, and another thing: the fact that Wall Street turds were believing Citigroup when they stated they were profitable just illustrates my point of wanting to cling to words and not facts. Yeah, I would have $100,000 profit over the past 5 years with my income if i just didn't deduct those pesky things like living expenses and taxes. I mean that's what Citigroup's announcement amounts to: They are profitable if you just don't deduct taxes, loss provisions and expenses. What an effin joke.
Check out layoffdaily.com
Judgment day is around the corner!
The TV is airing Congress going over the AIG mess right now . Of course MSNBC is picking and choosing what parts to air .
dead cat bounce. Just check what the dow did our last Depression.
Optimism in this financial environment is like the passengers on the Titanic standing along the rails waiting for the iceberg to sink...
Shorts buying back in.
Since there are no earnings, we will continue going down.
Wake me up when we are at 5200.
Did you hear housing starts went through the roof? Now that is something I do not know what to make of.....
"Dow was up again. What are you making of this?"
It is a sucker rally. The suckers still have money left to gamble with.
History of events the last couple weeks.
Obama talks constantly that the economy is in the tank. Market dropping like a man with no parachute.
BofA and Citi are going broke, more talks of bailouts for the two.
I went to bed on Sunday the 8th, curious how the market would be on the 9th.
Woke up on the 9th, Citi and BofA posted a profit for the first two months of the year.
Market went up all week. Obama not taking heat anymore for talking negative about the economy. Everyone is happy and I don't fucking get it.
Question: When was the backroom meeting when Obama, Geithner, BofA, and Citi, decided to cook the books to make things look better? Was it Saturday or Sunday of that weekend? The fact they made a profit all of a sudden when they were insolvent just 2 seconds earlier makes no sense. Something is up and I am not rushing in to buy shit.
Obama was told to be positive. So now we went from doom and gloom during the campaign to the problems are not as bad as people think, according to him and the MSM who worship him.
Bernanke/Obama were told to feign outrage at the transfer of wealth that is happening thanks to the money that they approved to print and hand out, including the money Obama urged Bush to give away while he was still in office. That $150+ mil at AIG is being used to distract us from the real tragedy, which is the total amount of the bailouts that we all have to now pay for.
The MSM lefties pumped the downturn to get Obama into office, and are now pumping Obama's scripted outrage to get people hopeful that things will Change. What they unwittingly did was allow the right-wing to clean house, take some taxpayer money, and buy back in at the bottom, before the MSM started parrotting Obama. I am one of the lucky ones who doesn't pay attention to teh MSM - I've doubled some of my money in the last 2 weeks.
I see no reason to be happy. The Dow must go down (and will) to 5K mark. All the "good news" that made the Dow jump is insignificant--if not fake (Citi and BOFA and the REIC and the FED)!
So stop biting your fingernails! Nothing there!
You got it, buddy. Prepare yourselves for the second round of fleecing the "happy cultists" coming up. Time for the crooks on Wall Street to pull the rug again. Nothing is selling, nobody has a job, no problem...time to buy paper from banksters! If you didn't take the opportunity to sell during this fake rally, you're a sucker. Better yet, yet until the huge rally on Friday, then sell it all.
Donald Trump said yesterday on Larry King that it's time to buy. So it must be true! After all, $4,000 laptops and search engine to look for porn will carry our economy. The AAPL crowd is saying so...omg the new iPhone 3.0 software came out and now you can talk to an overpriced mp3 player. We're Saved!!! China's exports just sank 30% last month, while Japan's exports slumped 47%. Credit Card delinquency in the US just hit 10% and climbing.
Poof! Back to happy times.
Oh yeah, Tech Sector with a P/E of 19 sounds soooo cheap!
My previous comment should read like this:
"I WANT fucking CAPITULATION dude. I want a huge drop and a total purge of everything. Wipe the slate clean and start over using the truth, like P/E."
My mind and typing hands often get their signals crossed and my proofreading leaves much to be desired.
Well, so how are the crooks on Wall Street ask for more bailout (heists) if they make things look so rosy?
What, are you sure that these banker thieves and their crooked politician puppets going just to do a 180 to say now that everything is wonderful, look upbeat, and lose the chance of getting free money from the stupid and docile taxpayers?
You heard the AIG CEO on the dumb-screen saying that probably they will get more money from the domesticated taxpayers. And the way to sell the heist is only through FEAR and big drops in the market.
Unless these crooks gave up on the easy money, called bailouts and TARPS, which I doubt, the market could go up no matter how rotten the fundamentals are, since the market is always rigged by the same crooks and the Fed.
However, AIG & Co are getting money from the taxpayer retards to transfer to their bosses in Europe, as you could see by all the billions going from AIG bailout directly into France and Germany and England coffers. Is the European mafia giving up so soon on easy cash from the dumb American taxpayer, even while their countries are practically bankrupt?
That's it, the heists of easy money are over so quickly? Perhaps the Europeans will replace the bailout heists with their newest Ponzi scheme called cap-and-trade, so dumb Americans can transfer more of their wealth to European coffers, believing that global warming is real.
I understand, if you put the snake oil salesmen Messiah to sell it, the MSNBC and The New York Times to make it look official, and play enough times the image of fluffy polar bears on the dumb-screen, you will have a bunch of happy retarded taxpayers telling European banksters, "Please take my retirement money, I beg you oh so nice Europe that gave us Hitler, Stalin, Mussolini, Rothschild!".
In my humble opinion, we are witnessing the greatest criminal transfer of wealth from the masses of people to the greedy hands of the elite that has ever been thus far perpetrated. It is an outrageous and shameful spectacle, bringing dishonor to our country and its good people.
Under the decidedly false and bogus claims that our financial system was in a state of imminent collapse due to the worthless toxic assets held by banks and insurers, our political stooges have paid trillions of taxpayer dollars to banksters and fraudsters to save them from themselves. In late 2008, we were told that if the money wasn't paid (NOW)the DOW could drop under 7000 and marshal law would be imposed.
Now, we are told that the underlying toxic assets that caused the panic were merely undervalued due to a pesky accounting rule ("mark-to-market")designed to provide transparency to investors. At the banksters' command, their political stooges have simply eliminated the offensive rule.
The Banks will now adjust the values of their "toxic" assets to balance their books. Their stocks are rising in anticipation of this additional slaughter of the people. But will the Banksters return our bailout money??? Not likely, so long as gravity continues to attract mass.
Just you wait, history will judge George W. Bush right. *bush grinning*
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