Bear roll call

[joelatti]

Woof 2 questions

One do you think that the influx of cash from the fed "So far this week, the Fed has added a total of $68.5 billion to its reserves, compared with a total of $50.25 billion last week. " Will have any lasting effect or is it just a band-aid



Two what is your position on SSRI....are you still LONG??

 

[Dawoofdaddy]

Joe, they are flogging a donkey with this added money. They can move the market intermediate term, but they cannot stop the long term trend.

The fed adding liquidity to the markets is inflationary and in essence another form of stealing from people with savings or dollar denominated assets. Thats also probably why gold is roaring today.

I wish you would stop asking me every week about ssri. Ive made my long term position quite clear regarding that stock.

 

[joelatti]

Joe, they are flogging a donkey with this added money. They can move the market intermediate term, but they cannot stop the long term trend.

The fed adding liquidity to the markets is inflationary and in essence another form of stealing from people with savings or dollar denominated assets. Thats also probably why gold is roaring today.

I wish you would stop asking me every week about ssri. Ive made my long term position quite clear regarding that stock.

Thanx for your response woof....I know your a bit older than me....but I think your memory is still pretty good??? I haven't asked about ssri in well over a month

 

[Dawoofdaddy]

Joe, you have asked me so many times about the same stock, it seems continuous.

Put a stop a buck or so above where you bought it and ride through any other fluctuations.

If the market puts you out of it, find something new.

:sadbb:

 

[joelatti]

Very cute pic.....looks a bit like someone I know....anyway....I REALLY do appreciate your advice and will do........won't mention it again......Did you have any LEND today???

 

[hellah10]

the central banks put in $38 billion dollars into the market today


wooohooo more money to be printed

 

[Brooklynbomber]

checked my actively managed account with Puplava yesterday. he's had me in 100% cash. turns out on 8/7 right at the end he bought me a nice chunk of
SDS - ultra short S&P500. needless to say it was a nice surprise.....PPT is working overtime right now, DOW would have been down 650 today if not for the manipulation.

 

[PercocetThreat]

the central banks put in $38 billion dollars into the market today


wooohooo more money to be printed

I know, sheesh. The dollar isn't going to be worth a cent soon enough. Gold is looking awfully good right now.

 

[Dawoofdaddy]

Time to get back into the bunker.

Morning rally fizzling out like a wet cigarette.

:howdy:

 

[Brooklynbomber]

I think we see a 5-10% correction this summer...not 100% sure of the catalyst but likely a correction in china, unwinding of the yen carry trade, or another round of subprime meltdowns or a combination. The economy is indeed slowing, and likely in a recession right now.

I believe the fed will use this as an excuse to cut rates before the end of the year.

8.3% S&P decline so far........

post was from 6/8. not a pat on the back or being an attention whore......anybody still thinks fed is not cutting rates? willing to bet a dime on it held by a mod here.

 

[Dawoofdaddy]

jdog, if countrywide financial goes up, padlock the doors and hide the women and children.

they look to be out of perfume to put on this pig of a market and economy.

:howdy:

 

[joelatti]

Fed is going to cut rates at fall meeting IMHO

 

[joelatti]

Woof I have a general question for you......With the mortgage industry in shambles and almost all houses in NYC leveraged to the hilt so much so that they can't even price there own derivitives.....why isn't money flowing into oversea markets, precious metals, etc......instead the US Treasuries soar???

I don't get it.......am I thinking of it backwards OR is this IYO a major correction....probable recession???

Thanx as always for your input

 

[8ate]

..

..My feel is that only half of damage has been done; ncluding the probable meltdown today..> futures indicate a very weak opening in usa equity markets..>>

I just don't see how the fed can do anything but try to "maintain a market" ; as there will have to be real losses taken by firms who bought the repackaged debt obligations; hoping to make a killing in interest rate spreads..> pigs get slaughtered..!!

What particularly bothers me: the put/call ratio was stll less than 1 (about 0.88 on wed) , and % bears still only about 38% to 42% (depending on survey)..Usually to reach a real bottom; the should be at least 50% bears; and put/call ratio should be at least one. Also; listning to cnbc; other financial shows; there still is an attempt to minimize what is going on; and allude to the delusion that the Fed will cut rates; provide liquidity; and save the free world..

mu prediction..> at least another 10% down from here on major usa indices..(i.e. at least a 20% correction)

My big mistake was retaining equity presence in shanghai and hong kong markets..> took a bath last nite; but did liquidate 65% of my usa mutual funds over last two weeks; and i should be in a reasonable position; as long as short term money doesn't go to 5% discount..(which could happen)

jmho; i am not a very accurate economic predictor..

gl
:nopityA: :drink:

 

[Dawoofdaddy]

Joe, if mr and mrs joe and jane US homeowner can no longer live in home equity loan dreamland, the us & overseas economies arent going to do as well.

The industrial commodities such as copper, zinc, lead, oil, etc do not do well in a soggy economy.

These hedge funds have driven higher alot of markets for there was alot of cheap money available. Without that cheap money and the yen carry trade, alot of those funds are going bankrupt and will be unwinding ALL positions.

Precious metals stocks are the baby being thrown out with bath water.

In a real banking panic, people will run into gold.

Stay tuned.

 

[Timetopay]

Joe, if mr and mrs joe and jane US homeowner can no longer live in home equity loan dreamland, the us & overseas economies arent going to do as well.

The industrial commodities such as copper, zinc, lead, oil, etc do not do well in a soggy economy.

These hedge funds have driven higher alot of markets for there was alot of cheap money available. Without that cheap money and the yen carry trade, alot of those funds are going bankrupt and will be unwinding ALL positions.

Precious metals stocks are the baby being thrown out with bath water.

In a real banking panic, people will run into gold.



Stay tuned.

Hey Woof if one of these banks go underwater that you have your loan with who do you pay???

 

[Dawoofdaddy]

TTP, I dont owe any banks money.

During a full blown economic meltdown, I doubt others will worry about repaying loans they have.

I suppose in normal circumstances, if a bank goes bust, any other bank that buys their assets would then hold that note and thats the bank that would be paid.

 

[joelatti]

Woof excellent post.......

One comment I have is I do NOT see the US gov't bailing out ANY of these hedge funds(just not what they want to do)....BUT if some of the BANKS start failing I CAN see them steeping in to avoid a full blown disaster.....

Also besides being short on your day trades are you positioning yourself in any other sector or areas??

 

[joelatti]

jdog, if countrywide financial goes up, padlock the doors and hide the women and children.

they look to be out of perfume to put on this pig of a market and economy.

:howdy:

HOW the F*CK did 40 Banks lend counrtywide 11.5 BILLION!!!!
Are you kidding me...that is a sinking ship IMO......look out below....

 

[Dawoofdaddy]

One comment I have is I do NOT see the US gov't bailing out ANY of these hedge funds(just not what they want to do)....BUT if some of the BANKS start failing I CAN see them steeping in to avoid a full blown disaster.....

Also besides being short on your day trades are you positioning yourself in any other sector or areas??

Joe, something to keep in mind. People seem to believe the govt has a magic wand and can bail out anything or anyone.

The fact remains that the us govt and the federal reserve in the first place are the cause of these problems, so in the end they arent going to be able to bail out anything without crushing something else.

If people still believe they can, ask them this question....SINCE THIS IS A BANKRUPT COUNTRY, WHO IS GOING TO BAIL OUT THE US GOVT?

Real estate is larger than the fed and so is all this carry trade garbage, so its going to run its bear course regardless what the fed does. Can they delay and slow the fall? Yes. However, its still going lower.

Im not buying anything until the dust settles and wish I had sold more of my current holdings as they are also falling. Im making some money short a handful of stocks and am daytrading via short selling nasdaq names again today.