Bubblevision says the markets sold off yeterday because Greenspan [aka Elmer] said China might sell off. Golly, what a piece of shocking "news" - China might sell-off - !NOT! Elmer needs a payday & the beefers paying him want a return on their money. Did they "leak" his comments after putting on their positions? Nawwwwwww. Some never see knavery in market players.
Or was it Pisani blabbing that the markets were "sure" to break the record yesterday? That's waving a red cape at the ... beefers.
If you read Liar's Poker, you'll know that beefers toss bombs & scream "fire" to start stampedes, and hit the order buy/sell button on pre-determined actions based on events.
Here's my take: we're in the ropa-dope setup & the desperate beefer bears need to create a technical sell signal to get more on their perma-bear side. They're getting chewed up by the real buyers & needed something to put some caution into them. So they hammer the markets near the close & put out this Elmer non-news items & screech "FIRE".
Nothing has changed. I'm just letting this beefer trading foolishness subside & expect the trend to continue when virtual sellers get washed out. If some good stocks get stupidly knocked down, I'll buy some more.
PS: Laughable. Bubblevision "alert" that stocks are falling because of interest rate concerns. Sure, as if a 4.9% US Treasury 10 year yield could possibly hurt the economy. We get good economic news so the "Fed will cut" screechers have to sell or cover. This is just beefer trading fund nonsense. Enjoy the weather.
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22 comments:
Bunkerman why did we spend billions fighting the communists/cold war? Was it not for the freedoms we enjoy? What you are describing as...uh...'kanvery'...is simply how a free and open society works. Mr G is a private citizen who has every right to make a living just like you and I. In his opinion ( and that is what it is ) , he thinks China gonna collapse one day. He has every right to be short China before he said that ...and the participants also have every right to short the FXI and then leak his comments to the press. That is how a free society works. What do you want? More government rules and regulations (ugh bureacracy). In the Soviet system all this 'knavery' would be controlled by the politburo. Let me leave you with one of my favorite Jefferson quotes...."That governmant is best which governs least."
Why exactly is there an SEC? Another waste of taxpayer monies. If I was president, I would immediately abolish the SEC. The exchanges and Nasdaq should be self regulated. It is in their interest to be fair and honest.....if they are not....people won't invest and the exchanges will lose money. We have way too many fat over budgeted government bureacracies that the pols love cuz they get to spend money. Disgusting.
I agree path of least resistance still seems up. S and P brushing up against all time closing highs.... it is natural to see some sellers here.
Uh, Bud, perhaps I wasn't clear. The knavery referred to the beefers who use him comments to manipulate the markets. Elmer is just a well-paid dupe. In case you didn't know it, market manipulation is illegal and has been since ... 1933 or 1934. The paid-off staff at the SEC rarely enforce it since they want high paying jobs when they leave the SEC.
Bud, I don't think you're a Democrat at all. That's just a cover so you can get invited to the "right" cocktail & dinner parties. You're really a libertarian. ;-)
The exchanges inherently "fair & honest" roflmao lolololol.
Hmm. The specialist & market maker thieves ripped off the public for decades until electronic trading let traders/investors bypass them.
I want the government to control the thieves & knaves and prevent the rich & powerful from pushing us around.
Otherwise, the government should just let us alone.
Unfortunately, neither major party belives that. Both want DC to dole out favors & are in the pocket of the rich & powerful.
Filled up gas tank for $3.10 a gallon this morning. So far not havin an impact on the consumer it seems.
The other way both parties act is to let the theives & knaves get away with crimes, and instead put on "prevention" measures that really are designed to control honest people. Those national ID cards are a perfect example.
Rofl cocktail parties. You are correct. The rich and powerful do throw real cool parties.
I think consumers are used to $3/gal. gas now. It will take $4 to get them to cut back. Year-over-year gasoline demand is still up.
No argument there Bunkerman. It seems many laws only effect is to 'control' or 'supress' honest people. Every time I have thought about starting an outside business I have needed a legal opinion from 9 lawyers. By the time I got done paying their fees....I had no money left to start the business.
Lyndon on Bubblevision. Ugh! Hitting mute, listening to Mozart.
This looks like sell programs based on some dollar-related strategy. Good economic news strengthens the dollar & so some beefers sell US stocks, cocoa, gold, etc. for some reason. Nothing has changed.
It's too nice a day here to watch this beefer ping-pong game. Back later.
SLV getting tempting down here
TLT looks finished. curve is steepening, but if mortgages are being based on the long end, this mite hurt that supposed home recovery
havent traded in 8 days
Rofl Mern..............you're not trading yet it looks...'tempting'? When you flyin down here?
im in at 11am tom
It looks like the beefer PPT [profit protection team] is panicing. Maybe they got in this move late and need to protect this quarters "incentive" fee. They're all trying to get out of their whorehouse at once.
bunkerman....how are you doing? bub and mern appear to be good company, where are the stock picks?
Hi Frosty,
I'm doing fine. As of the weekend the accounts I keep active positions in were up 29.7% [I posted that last weekend, I think; will be a little lower now].
I don't do that rapid-fire trading anymore. I back my own ideas with more money, instead. I've cut back a lot & am spending more time at the range, etc. I'm trying to semi-retire ... again.
I post just about everything new & that I own. But I haven't made a trade in awhile. I focus a lot on the general direction and economic trajectory. I keep my leverage fairly high - 150%+ - when I think the market is going up, and cut back when I think conditions are changing.
Every once in a while people or me post picks. Most of mine are longer term ideas.
Right now I'm in energies, deep water drillers, miners, AAPL, GOOG, ORCL, AMSC, EDU, CSCO, ADBE, HD [takeover], DOW [takeover], and some solar plays Si posted [SPWR, FSLR, JASO, TSL], and some biotech plays in vaccines [NVAX, BCRX, BIOM, CRXL, BTRX.
Energies are COP, CVX, XOM, SU, MRO, BTU, CCJ, DVN, HES, NE, VLO.
Deepwater drillers, etc are RIG, DO, GSF, NOV.
Miners are FCX, BHP, RIO, RTP, PCU.
That's everything in my active "active" accounts. I've had a lot of them since last summer when I got bullis after the June Fed meeting.
I post some commodity ideas, too. Not everything I do - I think it's dangerous for people, so don't want to lead others to slaugfhter there - I'd feel bad. People have a way of not listening to warnings, so I keep that low-key.
Frosty, I have a lot of India & India-related stocks, too. I forgot to mention them.. Long-term holds here.
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