The beefers and big fund managers must get their big window dressing, tax loss selling, liquidations and manipulations done this week as Friday is a big triple witching day and after Friday volume will collapse for the holidays. So wild swings are likely this week, as that wise commentor on this blog, frosty, pointed out last week. Yesterday was one of them, a "ping" and this morning is starting out at the "pong".
The Kremlin and the Russian Orthodox Church are become entwined ... Putin to become Prime Minister ... hmmmm perhaps a redux of czarism is evolving ?
A Bear Stearn's hedge fund manager under criminal investigation .. no surprise here as I stated a few months ago ... I can't give the reasons, but "a tiger doesn't change its stripes" or "once a thief, always a thief" is "enough said.
I intend to write a long blog about Thucydides and the relation of those events 2500 years ago to now. I have been amazed how much I see of modern national state situations and relations as existing in those small city states of 2500 years ago. Even military events - tactics and strategies - are quite fascinating. I wish I had read this book many years ago. Sigh ...
Futures are up significantly at 6AM EST. I am still considering buying more C.
Later this morning I need to drive to Hartford to meet my partner for our yearly strategy session with our main accountant. So I'll be away from about 10AM to 4PM EST.
The S&P cash is back to its level of early 2007, but corporate earnings are much higher. So one can get a free year of earnings in many stocks.
No recession ... buy dips in good stocks to the long term ... many good entries exist.
PS: Here is an example of how despicable and corrupt Congress is. The Earned Income Credit is a libertarian originated program that actually gives working poor families money efficiently without armies of bureaucrats. In 2004 this program supplied about $36 billion to the poor, being the largest anti-poverty program of many. I just heard the Congress - controlled by supposed Democrats "caring" for the poor - is spending $17 billion on earmark pork payoffs/bribes just now. So they rip off the taxpayer for almost 50% of the amount they supply for the poor in the EIC. Now you see why they - D's and R's are such knaves. We need more populist libertarians !!! Bunkerman for President !!!
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15 comments:
did GS gut its own beefer to meet it's number? but i thought they did that last Q......does GS have unlimited beefers to gut?
no, Bud .. the GS beefer guts their prime broker client beefers. There are 7000 beefers to be gutted ... uh, that is, 6999.
every $1 that the GS beefer makes is $1 that is gutted from other beefer traders - they are a zero sum game - adding no value to the economy.
The GS operating company - investment banking, etc. does add value and perform a valuable service to their corporate clients.
seems like a matter of time before the numbskulls in Washington realize the conflicts that exist within Goldman's walls...
Bunkerman...lack of up tick is killling the common man today, mass stop gunning at 9 and 20 sma levels in the strogest stocks...this is a beefers shooting gallery, fish in a barrel kind of stuff...getting very easy to spot, check out the action today in MASI, just ahead of the market being hit...like the upside in sept.
Bunkerman...AG POT being shot today as well...oil then tech then miners yesterday and ag today...looks like we are running out of leaders to punish...that up tick cuts both ways...we are near.
Hey guys, how are ya? Bunkerman, I pop in and read your opening piece as much as possible. Good stuff there. We have to be getting close, because I am about ready to build myself a shelter or go into pottery.
Qman..or should I say Qdaddy, good you see ya' old man.
Frosty!
Ya, it's Qdaddy, Small cap is now 9mos old. I can't believe it. They grow up fast. I need to get him hitting the charts soon.
Qdaddy, you are so right, lifes clock begins to fly ever faster once the kids arrive...small cap, lol.
Bunkerman...talk to me about the XLU...that holds up well, is that next to be shot?...wouldn't the bear case need that to crack...last straw?
Bunkerman...back in bed with the devil...we didn't get married last time we hit the sack, she refused to keep working over 230...if she fails to to mount 210 with conviction, we won't be getting married.
of course if she were to soil the sheets, she will skip off the pavement as I toss her from my bed to the curb :)
back finally [5PM EST] - sheesh there was no lack of drivers going to Hartford - $3 gas & $3.50 diesel is stopping no one.
XLU goes down when the recession fears die ... soon, in my humble opinion. That's when the !0 yr goes back to 5%.
Like I said the other day, the beefers can make Ms. Market dance to any tune they wish for a few days.
Hi Quint, thanks ... I just say what I think .. with some humor once in a while ... it's a lot of fun actually ... blabbing to the cosmic virtual fields surrounding us ;-)
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