GOLD
+$44 to $1695
Futures bouncing. May not be as ugly as many feared. Long way to go to close on Monday though.
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GOLD
+$44 to $1695
Futures bouncing. May not be as ugly as many feared. Long way to go to close on Monday though.
That's not what S&P says.Quote:
Originally Posted by Downbound Train
Trickle down-hillbilly-voodoo doesn't work and won't work. A revenue component is required.
Here's a potential moneymaker, the 3.0 version
http://gothamist.com/attachments/jen...10_dow10k2.jpg
sweet tie man!
shit is getting real, yo. the computers are killing eachother. BAC down 20% today. bloodsport.
That's why they're downgrading a ton of insurers today too? It's like they've all got short positions or something.Quote:
Originally Posted by 4matic
Quote:
Originally Posted by schuss
Sort of. Insurance companies by nature are required to hold Treasury and therefore get downgraded. Derivatives ARE insurance and this kind of volatility to standard deviations can make derivitive risk that much greater.
Oh, that's absolutely true, but given that S&P apparently can't even do math correctly, I'm doubting some of their work here. While I agree the government as a whole needs better spending and revenue plans, I don't think it warrants fucking the market for fun.Quote:
Originally Posted by 4matic
It looks good on them. Must be the damn shortsellers - all their faultQuote:
Originally Posted by mtnwriter
Benny and the Feds are gonna have a long 48 hours ahead of them. Muni downgrades are in the works......
ok make it stop now please.
More buying opportunities!!!!! Lots of !!!!!! means the opportunities are great!!!!!!!!!!!!!
i have to admit that i love days like this. the smell of fear must turn me on a little. perhaps that was an over-share.
lee, you hate BAC, huh? they are a bunch of fuckers, i'll give you that. i'll concede as well, the sum of the parts of BAC has not come to fruition. i knew countrywide would be a drag on earnings, but i'm surprised a bit that MER hasn't unlocked more value. then again, they seemed to learn nothing from the complete value destruction that has been C, and went down the exact same path...
did the S&P really close down 6.66%? YESSSSS!!!!!
mtnwriter my leading yoga pants indicator long is actually doing quite well - I am now up only 382% as opposed to 464% - c'est la vie. Web cams do not show enough perfectly coiffed metrosexual recent MBA grads jumping from window ledges so I am waiting and waiting. Perhaps I will wait too long (I've missed participating in the past couple of dead cat bounces in the post Lehman maggot-ridden corpse era so that's a full confession); but I sleep very well at night so there is compensation.
I hate BAC only as much as I hate arrogance that mistakes blind luck for skill. Equity markets were nicely correlated today. Almost every sector simultaneously shat the bed.
i agree, but only if youve been 75% out of stocks since may like i am; thank GOD !Quote:
Originally Posted by LeeLau
although, i know the past 2 weeks have beat the hell out of a lot of people; it did the same to me in 2008. if no one saw the mkt's been propped up from the FED this year, its not my fault when reality comes knocking.
Quote:
Originally Posted by LeeLau
My precious gold. My preeessscccioouss ....
ahhhh - LULU! up 146% YTD despite the carnage. i do like the way their pants look on les femmes leaving the yoga studio. i wish i had been as focused on the stock as les femmes in their pants. ces't la vie, vraiment, nest ce pas?
birinyi noted AAPL was trading at 12X F P/E with something like $80/sh. in cash from my back of the napkin. don't wait too long for that one. though i'm not sure even steve has figured out yet how to reanimate yet, so...
the metro MBA's are actually working these days (if they have jobs) and don't have time to get up from their desks to go to the windows. that and the fact that by the hour, they are paid less than my high school aged niece makes at mcdonalds should help you sleep in good conscience. i know i do. the simple fact that i won't hear the phrase "sell side, bitches!" from a 22YO 120# intern at a bar in tribecca at 2am gives me peace ;)
GOOG too at "reasonable" PEs. Lets step back to banal generalities though. Don't want to fall into the trap of reco's on a ski website. I've laid out some buy orders at OMGmyportfoliocommittedsuicide prices and will see if they hit. Ya never know
Jeebus what a bloodbath. It almost makes me glad I'm flat broke to start with.
SPX futures just got spanked for 10 more points.
Hedge funds liqidating?
S&P down....wait for it....
6.66%
Time to start looking for Obama's birthmark.Quote:
Originally Posted by skier666
Benny and the feds on deck.........will they hint at launching 3.0?
http://img.thesun.co.uk/multimedia/a...E2_421679a.jpg
Yee haw!
Do you know what serendipity is? Getting a $1200 alimony refund check in the mail today! Never in my wildest dreams did I expect that.
All is right with the world.
Hookers and blow my friend, hookers and blow .......Quote:
Originally Posted by grrrr
Whats bad for Stocks is good for Bonds, either way somebody's a winner, up 18% in MBS this year.
MBS? Isn't that the crap that brought us down in the first place? Do you really know what's hidden in there? I might consider a little if it paid 100%. But, then again, if S&P rated them AAA, well, they should be safe as shit, right?
Fed made $90 billion off the stuff.Quote:
Originally Posted by Benny Profane
Right. The same people who print their own money. Good example.
^^^^^Benny, that made me laugh. Thanks
Hey, your Zero Hedge moved the market big time today pushing the rumor that Socete General was going down. That's what a few traders said on Bloomberg.
Tyler would be proud. But they don't push anything except gold and the eventual collapse of the ponzi fiat system we have in place. I just looked the article up, hardly a big headline as it only had 120 comments on the post. Some get 300-400 comments.
CME announced margin hikes on gold.
^^^ School a JONG. That portends more shorts on gold?
That portends margin calls, which = selling. Gold shorts are already short waiting for something like this.Quote:
Originally Posted by Mazderati
A margin hike is an increase in the broker's maintenance requirement?
CME hikes their maintenance requirement suggesting people short au on margin may have to raise money, though not necessarily by selling au? Only if the margin hike forces the sale of au do the people that can stay short au on margin win? People long au are fine, assuming the price stays the same.
Margin hikes drain liquidity and generally force longs to sell to meet the margin requirements which I'm pretty sure is one day for futures. Shorts last week when gold hit 1680 prolly got squeezed out and the covering pushed the price of gold into new highs. shorts at the higher price are shielded provided the price drops.If buyers come in at these high levels we could see another push higher.