Tuesday, March 24, 2009

So What ?

That seems to be the jizz* of yesterday's strong upward move in stocks from my reading of the news and a bit of painful listening to Blabberg. [aside: Why are the faces on financial news mostly imbeciles who ask stupid questions and make silly comments?]

*see Word of the Day

The move has two sparks: Timmy's plan was well-received by potential private investors and existing homes sales jumped. Regarding the former, I wonder why it took him so long to get the plan out ? The general outline was written in this blog months ago and was rather obvious. Regarding the latter, even though much of the sales were from foreclosures, clearly the bloated home inventories are being cleared slowly now. It's not getting worse. Buyers are stepping up for bargains.

More Readers ...

Now I learn that George Soros is a secret reader of this blog. Check out his op-ed in the WSJ today. Here's a quote: "it's clear that AIG, Bear Stearns, Lehman Brothers and others were destroyed by bear raids in which the shorting of stocks and buying CDS mutually amplified and reinforced each other. The unlimited shorting of stocks was made possible by the abolition of the uptick rule, which would have hindered bear raids by allowing short selling only when prices were rising. The unlimited shorting of bonds was facilitated by the CDS market. The two made a lethal combination."

And more: "Many argue now that CDS ought to be traded on regulated exchanges. I believe that they are toxic and should only be allowed to be used by those who own the bonds, not by others who want to speculate against countries or companies. "

Good ideas, George. Sigh ... imitation is indeed the sincerest form of flattery ;)

By the way, above for the first time in an actual post, I borrowed from the text message dialect of written English to use its sign ;) to mean I am joking about something. It's a wink. I think this is appropriate now as this blog is becoming more multilingual with my French phrases, so adding the text message dialect fits, too.

PS: If you are voting proxies on stock you own, I urge you to vote against executive compensation plans, against any directors of companies which have cut dividends, and in favor of shareholder proposals that seem to help shareholders get more power. I just voted against all GE directors and in favor of all five shareholder proposals.

Word of the Day

"Jizz" - noun [$10]; a reprise selection
Jizz means the characteristic (immediate) impression given by an animal or plant.
Sentence: Yesterday's huge rally had the jizz of a yawn for the public. Perhaps that signals that it's real this time ?

Le Mot du Jour

"Pouvoir" - noun, masculine [this is a common verb, too]
Le pouvior means power, ability, capacity.
La Phrase: Les pouvoirs de l'√Čtat sont grandes pour relancer l'√©conomie.
Sentence: The powers of the State are great for reviving the economy.

74 comments:

Bud said...

ops expo trades yday ? huh ?? wtf ??? but i thought ops expo was on friday


now you guys are stroking each other for trades yday......what a bunch of queers

Bud said...

i'm the bud that takes no crap............i'm the bud that doesn't kiss-ass ( like the ass'kissing triplets....bob ace spin )..........i'm the bud knows jim is the best stock picker on the web

do i happen to live in ft lauderdale?......yes


and you couldn't figure that out ?? man that texas sun has turned you into quite the brain

Bud said...

Bman what tremendous performance by GS lately............i want that stock to go to 200.........means the credit crisis is over........and Bman shud want that too.........cuz it also means the obama fund will be up 100% from here


PS....... Bman show me you are not a stubborn rigid fool.............GS is not the evil super-beefer it was in the past.........the new environment and legislation is changing wall street..........show me you are flexible........do you like ( or will consider liking ) the 'new' GS ??

Bud said...

GS may pay back TARP soon?? that would be sweet


another victory for the forces of light

Bud said...

bernanke and geithner on the hill today....on AIG bonuses ???


what a disgrace the congress of the united state has been since the moon-cricket took over


kangaroo court indeed

Bunkerman said...

This is not trhe same Bud, teja. That Bud was HIllary's brother, Hugh.

This Bud is a right wing gun nut.

;)

Bunkerman said...

I prefer MS, JPM and HBC, Bud. One has to make choices.

Bunkerman said...

Even after giving the TARP money back, GS has that layer of Buffet lard sitting there.

Bunkerman said...

I'd like to see JPM give it back, too.

Bud said...

right wing gun nut


LMAOOOOOOOOOOOOOOOOOOOOOOOOOOOO

Bud said...

ummmm........i wasn't asking you to buy GS


just wondering if you think GS has changed......and you will change your opinion on the character of the firm


'gutting it's own beefer'

mfl59 said...

yes GS is now run by choir boys who only care about the shareholder...

lmaoooooooooooooooooooooooooo

Bunkerman said...

I see no change in charater of GS.

Same bunch of pirahnas run it.

Still a trading house ... makes most of its money trading against its own customers.

I haven't heard of them cutting back that at all. Or re-emphasizing pure brokerage or wealth management of investmetn banking.

Bunkerman said...

of course, there is nothing wrong with being a right wing gun nut - it's a noble and practical and logically consistent ideological choice for defenders of freedom..

;)

Bunkerman said...

oh gosh, be still my heart ... I feel better that Abby is giving us the "go" sign

Goldman's Abby Joseph Cohen says with stimulus and plan to help financial sector distress, investors should be feeling somewhat better, although labor markets will take time to improve

mfl59 said...

Bud call me crazy...but I like a stock picker who.....actually picks stocks

mern said...

http://www.israelnationalnews.com/Radio/Player.htm#0%23776

48 minutes of brain candy. he describes my depressflation thesis at the end.

imvho, he is right, in a big way.

the big rub, is americans just need to stop super sizing their lives, but how do u that, keep the market up, so the boomers can retire. u cant!

so either A. lets eat the bad debt, the start another cycle, where credit is flowing, but we really dont make anything, that anyone needs. or B: off to rehab and let a REAL nasty nasty recession play out. 20% unemployment. GDP contracting by 5% for yrs.

so i guess we shot for A and stagflation hopefully, but probably depressflation.

Bud said...

nuthin wrong at all ......defender of freedom indeed


hear hear Bman

Bunkerman said...

"but we really dont make anything, that anyone needs"

hmmm ... guns, corn, wheat, coal, timber, aircraft, cattle, hogs, prescription drugs, medical devices, ...

sigh ....

mfl59 said...

guns, agricultural products, and drugs....sounds like the USA is prepared for armageddon

Bud said...

you said it Bman.............we are the envy of the world in inventions and discoveries


the gooks are just good at copying us and making it cheaper


PS......what does costa rica make ?? landscapers and dishwashers

Bunkerman said...

exchanges proposal on short selling is ridiculous: 10% on $30 stock is 3 pts.

Maybe 3% ... or no shorting any stock in red - all must including similar rules on any on derivatives and NO market maker exceptions or ETF exceptions.

Bunkerman said...

Costa Rica makes good coffee beans.

Bud said...

can't short a stock that is red on the day ?? huh?? is that what you want Bman

lmaooooooooooooooooooooooooooo



PS......i only try to short stocks that are red that day......in fact...........the more they down ........the more i wanna short'em

mfl59 said...

Bunkerman you are starting to sound a little like John Bogle...

Bunkerman said...

it's a good place to start the negotiations.

Frosty said...

researching new cars...I find that the passat is top 5 among young porgessional women yet fails to make the male top 35...imagine that.

Bunkerman said...

Bear raids and excessive volatility are scaring the public from buying stocks.

More "real" investors are needed.

If that means the Street makes less money trading, fine.

Bunkerman said...

this would also stop the computerized shorting.

Bunkerman said...

all market maker exceptions to shorting need to be eliminated .. especially the Madoff exception for naked sorting.

Frosty said...

Bunky...how much of this rally is the result of the SEC attacking naked short sales? stock borrow after this run is tight, either enforcement is doing a better job or beefers loaded the boat at yesterdays high, while put call is over 1% for the forth day in a row...all good signs for continued strength.

Bunkerman said...

re naked short sales, I don't know.

Maybe the beefers got too short and are being squeezed.

I think there might be a lot of short covering.

IF SEC is attacking naked short, it g** d*** about time.

Spin-em said...

was that a rhetorical question???..lool

Spin-em said...

shhhhhhh...young Abe Lincoln speaking

Frosty said...

LMAOOO...mini abe.

mfl59 said...

If I walked up to Timmy and punched him in the face, would he fight back?

Spin-em said...

would Donny??..lool

mfl59 said...

Donny...I think so...

Biden....you betcha...

Spin-em said...

lmaooooooooooooooooooooooo Joe

I know I would run.....

mfl59 said...

I wonder if Timmy can do 5 pushups

Spin-em said...

Donny would call timeout to remove man jewelry

Spin-em said...

I just did 33 bad ones to see..lil light headed....looooool

mfl59 said...

Donny just did 35 on the CNBC set...with Denny on his back...

Bud said...

listen you prick


i don't need a f'ng car to prove myself or overcome any deficiencies


i got my left fist and my right fist.....would you like to meet them ???


what's that ?? nuthin ?? i didn't think so



PS.....did i tell you guys about the time in middle school.....this bully........

Spin-em said...

Donny just did 35 on the CNBC set...with Denny on his back...



lmaoooooooooooooo..Im sure he did

tejasjeff said...

i'm the bud that takes no crap............i'm the bud that doesn't kiss-ass ( like the ass'kissing triplets....bob ace spin )..........i'm the bud knows jim is the best stock picker on the web.
and you couldn't figure that out ?? man that texas sun has turned you into quite the brain

as a matter of fact I could not.
The Bud i used to occasionally have a friendly chat with wasn't
as obnoxious as this.
Good luck with the recovery process, call me when are at Step 8 in your 12 step program of making amends.
I am her for you Bud!

Spin-em said...

i got my left fist and my right fist.....would you like to meet them ???


what's that ?? nuthin ?? i didn't think so


LMMAOOOOOOOOOOOOOOOOOO

Spin-em said...

tejasjeff..MVP..MVP..MVP

Frosty said...

aazzhead vs Timmmaayyy in the ring...would it remind anyone of the classic celebrity bout screech vs horshack...I think so.

mfl59 said...

screech

LMAOOOOOOOOOOOOOO

mfl59 said...

Being in the Congress seems like a pretty good gig...skim galore...plus you get to berate anyone you like, even if you have no clue as to what you are talking about

Bud said...

new meat got riled up pretty quickly ......that was f'ng easy



'mission accomplished'



where's ace ?? i need a better fight

Bud said...

FIG




THANKS JIM !!!!!!!!!!!!!!!!!!!!!!!!



PS.......'ops expo open interest spreadsheet'.........pfffffffffffffffffffft

tejasjeff said...

Good heads up on that Soros article. That may be the first thing I have agrees on with that one world socialist sob.
Naah Bud you didn't rile me up,that takes a ex wife to do.
Good Luck amigo.

Frosty said...

why do folks make fun of abby...think she would make the perfect sugar momma for Mern...she's loaded, old enough that Mern will out live her, ugly enough to try hard in the sack and has those ape like features he luv's...what's not to like.

tejasjeff said...

Abbys dirty talk in the sack would be interesting.
"I am expecting rising levels of excitement as the expansion continues etc"

Spin-em said...

lmaooooooooooooooooooooooo

Frosty said...

the SKF KING wants to make a donation Bunky...a dozen passats to your local gun club...smoke dirty lil german junk next machine gun day.

Bud said...

is sharkinvesting.com the best site in the world for making money in stocks ??? uhhhh....


i think so

Bud said...

the SKF queen ain't makin any donations right now


she's saving money.......you know.....the new A-fraud teddy bear collection is out

and she worships A-fraud !!!

tejasjeff said...

some guy used Madoff's prison number on a lottery ticket and won $1,500 hahaha.

Spin-em said...

only Bud can turn a new guy against him in what 4 days???

as "ACE" Ventura would say

Laaaaaaaaaaaaaaaaa
haaaaaaaa
haaaaaaaa
ooooooooooooooooooo
zzzzzzzzzzzzrrrrrrrrr!!!!!!

LMAOOOOOOOOOOOOOO

mern said...

bob is definitely the early MVP.

and has those ape like features he luv's...

even for a racist like u, that is really funny!

anyone listen to the uish economist? i know 48 minutes is a tad granular for u guys......

bud u just dont get it, on costa rica. they have a low standard of living, they dont need shit, they arent droaning in their own puke like america.

i know i know, its not safe....... like trying to cross a street in south beach........ or having land mines by your crib in boston......its all relative, and relatively speaking i prefer to live in costa rica than america. i just need to sell my home, which i foolishly paid for in cash. if i had a mortgage, i wud trash my house, strip anything of value, and fuck the bank, then move to costa.

Spin-em said...

for 5 years all we heard was my insurance rates...my insurance rates....stop with the cryin and burn the MF'r

IF....IF...pffffttttt


loooool

mfl59 said...

LMAOOOOOOOOOO spin.....i just choked on my lunch...

Bud said...

insurance rates


lmaooooooooooooooooooooooooooo

Frosty said...

rumor FOX business news going bye bye...to be replaced by WSPOOK...all obama all the time.

mfl59 said...

COIN

"thanks jim"

lmaooooooooo

Spin-em said...

if ya havent noticed tejas...its kind of an ol buddy Smack-Fest round here...so feel free to throw the leather......lmaoooooo

Bud said...

what an incredible day in the tank.........made some .......ummmm.....'COIN'



thanks jim

tejasjeff said...

How many people left in sharkpit/tank these days?
Leather?
Paraphrasing Steve McQueen in Magnificent Seven..
I deal in lead friend.

mfl59 said...

http://www.dos-palmas.net/home.html

mern if not now then when sir....

mfl59 said...

go to that site and check out the picture of Bud with his girl on the beach...in the photo album tab...

jon secada....pffftttttt

lmaooooooooooooooooooooo

mern said...

funny u guys freak out when obama tried to fuck vets, but he listened and backed down. too bad #43 didnt ever do that, right?

when u see what obama and hildog r doing with the net, u just gotta know they r better than the old man and the super devil.

best case, it wud have been more 4 yrs of bush. worse case, palin slipped the maverick some speed and he had a heart attack. now she wud have the codes in one hand and the bible in the other.

like the uish economist said, greenspan and bush were the bar tenders and got the american public drunk on their bullshit, but bernacke and obama r serving grain alcohol.

i knew no one wud listen to him. its long, well thoughtout, and negative. the guy is hilarious! i actually thinx he is right that madoff shud run the treasury.

Walter Sobchak: I'm saying, I see what you're getting at, Dude, he kept the money. My point is, here we are, it's shabbas, the sabbath, which I'm allowed to break only if it's a matter of life or death...
The Dude: Will you come off it, Walter? You're not even fucking Jewish, man.
Walter Sobchak: What the fuck are you talkin' about?
The Dude: Man, you're fucking Polish Catholic...
Walter Sobchak: What the fuck are you talking about? I converted when I married Cynthia! Come on, Dude!
The Dude: Yeah, yeah, yeah, yeah...
Walter Sobchak: And you know this!
The Dude: Yeah, and five fucking years ago you were divorced.
Walter Sobchak: So what are you saying? When you get divorced you turn in your library card? You get a new license? You stop being Jewish?
The Dude: It's all a part of your sick Cynthia thing, man. Taking care of her fucking dog. Going to her fucking synagogue. You're living in the fucking past.
Walter Sobchak: Three thousand years of beautiful tradition, from Moses to Sandy Koufax...
[shouting]
Walter Sobchak: You're goddamn right I'm living in the fucking past