I'm surprised that Cramer can write that well.
Can I get some REIT symbols to check out?
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I'm surprised that Cramer can write that well.
Can I get some REIT symbols to check out?
he's a former journalist
Countrywide borrowed their entire $11.4b credit line.
they can't sell their mortgages
yeah you know, benny, I resent this! finance people can be annoying, sure, but at least their redeeming quality is that most of the annoying ones stay all nice and self-contained in murray hill and the mpd. meanwhile trustfund hipster douchebags singlehandedly created hells square and are driving me to below delancey to find a decent bar. :mad:
You know, now that I'm back in NYC, I have that daily experience of looking around at all these strangely dressed people, and wondering "what the fuck do you do for a living to afford living here?". The world needs only so many baristas and snotty retail fashion salespeople.
And I don't go near a club or trendoid club at night. My head would explode.
Oh well, it keeps the fixie bike market rolling along.
Wow that was fun! Glad I bought into that selloff! :biggrin: Maybe take some profits after the fed meeting?
All depends on your timeframe.
Nasdaq leading the way higher is very bullish. For another serious leg up a powerful move by INDU through 13,500 and S&P 1500 is needed.
Don Hays institutional advisory is super bullish right now. More than in the last year..fwiw.
Market could be up 500 today... Thanks Ben!
They all took your advice and shorted oil hard, over and over, for the last several years.
Now their computers have been repo'd.
Bah.
Why would anyone bet against the US market moving forward.
The fed will never let their butt buddies on Wall Street lose money.
As James Grant says, "Capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich."
Although my call for 100% Goldman, 100% of the time is the teets, no?
If Lehman dodged the bullet, then I think Goldman is hunky dory.
For instance, GS's Global Equity Opportunities dropped 30% during the credit scrum. Goldman steps up, invests $2 billion, and sees the fund climb 12%+ as credit markets ease. Not bad screwing your clients and making money in the process.
I love capitalisimo!
gold and the HUI breaking out.
big time.
Wel, I guess the knee jerk today was to say Ben and crew were sucking up to Bush's House big time. But, hey, they're just telling the next, um, person, that this is the way we will deal. Go ahead and spend your campaign financing. We'll try to make it easier for you, because that "war" is your real problem.
What? Bernanke is cleaning up Greenspan's mess.. He put the fed funds-discount rate in line with the market where it should have been all along.
The only problem I have is this may cause long rates to move back up. Another strong move up in equities will also trigger a huge short covering rally. Hang on. The big "V" is here for a while.
I couldn't help myself. After witnessing Kramer's meltdown on TV in August and seeing the market shortly thereafter tank to almost 13,000, I couldn't sit idly by when it didn't drop any further. I bought back most of what I'd owned before where I was able to buy it cheaper--didn't buy it back if it was higher.
The only instance that didn't work was CMED. I couldn't bring myself to buy it back at a higher price but it just keeps going up and up. :mad:
Wha? How old are you? Mess?? I.....I.... He left a ...... mess? He said it in his book, it's obvious, he set up things for the Bushies quite nicely after one of the most intellegent presidents in his reign, as he said, Mr. Clinton, and what the fuck did they do? They proceeded to fuck it up Big Time. Hey, Drug Industry, let's party!!! Here! Hey, Blackstone, Halliburtin, Defense Industries! Pig The Fuck Out!!! Congrssman loyal to me - Build a Stupid Fucking Bridge!! Now these people are dealing, extremly fucking weakly, of course, in a lame duck way, and he's just saying, hey, bring on the fucking vote. You're my next boss.
Of course! You think the Bush regime is going to let the recession out of the bag any further than it has to before the elections?
The Fed is basically saying "we'll flush the dollar before we let this correction take its natural course". The big and smart money has already left the USA...every big corporation, including Halliburton and their cronies, is all overseas in tax havens now. (Those who can't leave are invested in gold/commodities/foreign bonds.) Your savings will continue to be destroyed by inflation because the government is printing money to pay for the Iraq war, Wall Street, and to bail out the leveraged speculators. Frugality and savings are and will continue to be punished.
Of course it won't work...just look at Japan, where they only succeeded in prolonging the pain for 15 years. It's just like Nixon taking us off the gold standard because he didn't want to pay for Vietnam, except much, much worse. Get ready for the 1970s all over again. Things will get much, much worse before they get better.
Ridiculous. The Fed put their rates in line with the market which caused an immediate steepening of the yield curve which helps loosen credit liquidity for lenders. If it's such a sham why did markets around the world rally 2-5%? In case you hadn't noticed the dollar rallied .02c vs. the pound after the rate cut. BoE is next; they're culpable after raising rates needlessly in July.
I know you guys are having a really nice sophisticated discussion here, and please, by all means, don't stop.
But I do want to point out that we went from 14k to 13k, and I think that basically constitutes the "tank" that I was thinking about when I first posted the thread.
Not that it matters, in the slightest, at all. I'm just saying, I guess.
Anyway, back to the much more interesting and actually meaningful discussion of what happens next.
Still up 7.5% this year, which is pretty much what youd expect. Not exactly a crash.
Yeah, well, I'd say it isn't a "tank" if it bounces like a super ball right back up to near 14000. That's a thousand point correction/gains taking.
If the next one happens, it's going to be more Benny Profane style.
More of a prolonged slumpage as opposed to an outright monthly tankage, although it might very well start with monthly tankage and then just maintain with slow seepage for a while.
Either way, volatility is here to stay...VIX what?
Hey, I eat my bran every morning. Daily dumpage in the BP household. And I'm not even addressing that seepage issue. ewwwwww.
WheeeeeeeeeeeeeEEEEEEEEeeeeeeeEEEEeeeeeee.
DJIA back up to nearly 13,900.
Remember, the stock market often dips significantly in October of odd-numbered years. My guess is that it has something to do with annual sales cycles, and doesn't happen in even-numbered years due to upcoming Congressional elections.
Which is what has got us into the mess we are now in.
Yes, gold is just a rock. But it's a rock that the government can't destroy the value of by creating more rocks out of thin air. That has always been the point.
Inflation is a tax, not only on your income, but on your savings as well. It punishes savings and rewards debt. The inevitable result is larger and larger cycles of boom and bust, as debt builds unsustainably and then collapses. Keeping money supply growth in check means no big unsustainable booms like the past twenty years, but also no big collapses like the 1930s, 1970s, or the one we're heading into.