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By request, MikeS97707 has been added as a board moderator. Welcome aboard Mike. Now go fuck yourself.
Buzz
LOS ANGELES - A strong earthquake shook Southern California on Tuesday, causing buildings to sway and triggering some precautionary evacuations. No immediate damage was reported.
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The jolt was felt from Los Angeles to San Diego, and slightly in Las Vegas.
Preliminary information from the U.S. Geological Survey estimated the quake at magnitude 5.8, centered 29 miles east-southeast of downtown Los Angeles near Chino Hills in San Bernardino County.
Los Angeles Fire Department spokesman Brian Humphrey said there were no immediate reports of damage or injury in Los Angeles. San Bernardino County fire dispatch also had no immediate reports of damage.
The quake struck at 11:42 a.m. PDT. Buildings swayed in downtown Los Angeles for several seconds.
Workers quickly evacuated some office buildings.
"It was dramatic. The whole building moved and it lasted for a while," said Los Angeles County sheriff's spokesman Steve Whitmore, who was in the sheriff's suburban Monterey Park headquarters east of Los Angeles.
The 1994 Northridge earthquake under Los Angeles' San Fernando Valley was magnitude 6.7. It killed 72 people, injured more than 9,000 and caused $25 billion in damage in the metropolitan area.
The damage created by an earthquake depends greatly on where it hits. A 7.1 quake — much stronger than Northridge — hit the Mojave Desert in 1999 but caused only a few injuries and no deaths.
California is one of the world's most seismically active regions. More than 300 faults crisscross the state, which sits atop two of Earth's major tectonic plates, the Pacific and North American plates. About 10,000 quakes each year rattle Southern California alone, although most of them are too small to be felt.
That's why I put on shorts and a t-shirt, LMAO. My stupid dog didn't even wake up.
Buzz
after mexican food. eom
Yeah, they're saying it wasn't as bad in the valley and west side cause the mountains buffer it. It felt like a "roller" to me at the time, and even the jolt wasn't bad. That's the kind that are actually a little fun ...... but the whole time, you're thinking "shit, is this gonna get bigger".
Buzz
Guess it was pretty strong at the epa center. They felt it from san diego to las vegas.
Buzz
So that's to the east, 5.8 they're saying now, in san berardino county. Felt all the way to manhattan beach.
Buzz
Damn, chino hills, 5.6. eom
Must have been to the south. I'm in studio city, had one good jolt but then the damn thing just kept rolling for at least a minute.
Nice equake we just had. eom
I was thinking of you as his intern. eom
That works! RAW FOR PRESIDENT, and I disagree. You couldn't possibly do a worse job than bush.
Buzz
They can never tell us, or the world, that. Then they wouldn't be able to sell debt, and raise money to keep the country going with the huge friggin deficit.
Someone better clean this shit up fast though, or we'll be going the course of other countries, like GB a few hundred years ago, that suddenly toppled from hegemony.
Can you sell a territory? Can we get anything for Puerto Rico? Maybe the gov should list it on Ebay.
Buzz
And there wasn't one spelling error!
well said!
Wamu's up 100% almost since the low a week or so ago. I thought about going long around 3.00, but decided not to take the risk. Keeping my accounts open there is enough gamble on WM for me. ;)
Buzz
OK, here's the rally off the 11K (10,800 impact low) I expected. Very serious resistance at S and P 1285 area, but if that gets taken out, clean shot to 1325.
Volume fairly light on the last few days of the rally, however, which may indicate a bear market rally only. Tread cautiously the next few days - I am leaning towards a rally to 1320 area, then back down to test the lows at 1200. Short coverin sparked today's rally, so we'll see if they reposition and hammer it backdown, or if the bulls keep control a bit longer.
Buzz
Why don't you learn not to double post. I'm leaving it up as a tribute to your stupidity.
Buzz
Did he sing margaritaville?
u think anyone will be paying attention to wfc earnings am?
LOL
Buzz
I wouldn't be surprised to see the dow up 200 today, which would be 400 pts off the low.
Buzz
Many of the smaller banks have less exposure to housing related credit issues, and many have stronger balance sheets to begin with.
Buzz
Earnings start in earnest after the close. We're definitely positioned with an impact low for a rally off these levels, 1280 ish s and p. The bar has been set fairly low by analysts for current estimates, so I think we'll see a lot of beats. However, guidance will really be important.
The wild card is financials. We get a few banks going under, and then we could have an absolute collapse, and earnings will really mean nothing. If that's the case, then 9800, maybe in October, should be the final low.
I'm leaning towards a summer rally off these levels through August, then a decline into mid October. Nothing as clear as the drop to 11,000 however, which was set up months ago.
Buzz
Wow, great call. NO ONE else thought 10,8 would be tested
Posted by: BuzzOnDaBeach Date: Thursday, March 06, 2008 3:59:51 PM
In reply to: MSGI who wrote msg# 154991 Post # of 161234
I wish I had a buck for every "black" call we've tried to make over the last 6 months, lol.
We do need a capitulation day for a spring rally. However, we may not get it. PPT is protecting various levels every step of the way. This will result in a slow grind down that could last months.
11K will be tested with a possible impact low of 10,800. I think 9800 is a possibility on the dow if corporate earnings really decline. However, the weakness of the dollar will help larger companies with artificially inflated earnings due to overseas sales (like ibm had).
Buzz
jesica? she's numero uno hottie in my book eom
Bullshit. You can take it with you to
hawaii
europe
tahiti
costa rica
the bahamas
etc
Buzz
I actually read a couple of interesting books related to the psychology of trading. One studied succesful traders, and compared them to succesful athletes in their discipline, mental focus, and ability to accept certain defeats as part of the overall success pattern. That book is The Trading Athlete, and also gets into some very interesting ares of NLP (neuro-linguistic programming). Two things really stuck out for me, the first being the goal is to "trade perfectly", which doesn't mean every trade is a winner. It means you properly read your signals, didn't hesitate on entry, and honored your stop on a losing trade, which is simply part of the game. The same way a big league pitcher may throw a great slider on the outside corner, but a hitter just takes it out of the park. It was still a great pitch, and the goal is to "trade well", and the financial success will follow.
But the one line that really stuck in my mind was, and this was after he studied literally 100's of succesful traders
"To be succesful you only need to learn one type of trade, master it to perfection, then do it over and over and over until exectution is automatic". I thought that was a great line.
It's the discipline that separates the 10% from the 90%.
Buzz
In Response to Industry and Market Activities, Washington Mutual Provided the Following Statement on the Strength of Its Capital and Liquidity Position:
Monday July 14, 4:19 pm ET
SEATTLE--(BUSINESS WIRE)--Washington Mutual, Inc. (NYSE:WM - News) "Washington Mutual recently raised $7.2 billion in capital and its tangible equity to total tangible assets ratio was 7.8% as of June 30. The company significantly exceeds all regulatory “well-capitalized” minimums for depository institutions. In addition, WaMu has current excess liquidity of more than $40 billion and a national franchise with approximately $150 billion in retail deposits. The company will provide a more detailed report on its capital position and liquidity, as well as the steps it is taking to work through the current environment, on its July 22 earnings call."
About WaMu
WaMu, through its subsidiaries, is one of the nation's leading consumer and small business banks. At March 31, 2008, WaMu and its subsidiaries had assets of $319.67 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate approximately 2,500 consumer and small business banking stores throughout the nation. WaMu's financial reports and news releases are available at www.wamu.com/ir.
Absolutely. I trade on pure technicals, but I'm only in and out for a few pts. per trade on the ES, and most of my trades are around 2 to 3 minutes. I NEVER hold overnight. Most of the people on this board are buying stocks or index options to hold overnight. For overnight trading right now, unless you are extremeley liquid and can wait out a crash scenario, I wouldn't trade just on technicals. I'll qualify my statement to only apply to overnight, not intraday. My mistake.
Buzz
I honestly wouldn't trade on technicals only right now. The fear factor can set in at any time, and panic far outweighs rsi, lol.
Buzz
PS, it's not that oversold technically. Enough little bear market rally days to keep the indicators high enough that there's plenty of room for a big down day.
Also, the market can stay very oversold or overbought for long periods of time - remember how overbought indicators stayed from Sep to Nov of last year?
Buzz
Unless it's time for short term capitulation. eom
I'll bet we have 400 point day tomorrow. Don't know if it's up or down, but with several earnings reportcs, ppi, retail, ny index, and bernanke speaking, the volatility tomorrow should be through the roof one way or another.
Buzz
You may be right. Volume has been nice the last few days, and we're on the tl marking the last two major lows. But it's a down TL, and would need an upward break of 1400 s and p to get out of this channel, which I don't see happening.
I think a test of the last remaining up TL from the 02 lows is more likely, around 10,000 to 10,200 dow, and think you're october time frame is realistic. That's about 1050 on s and p which is about right. The nas would have to play catch up to the downside, however, and probably test 1950.
Buzz
You may be right, lol. Went up about 200 in an hour, then dropped over 100 in 12 minutes. Volatile day, lol.
Buzz
Isolationism? Too much impact on us companies that rely on overseas business.
Buzz
There's our rally off 11k. Should continue through options exp next week then the next leg down.
Buzz
The government, usually through the fed chairman, preaches economic policies to the consumer that are ususally in the best interest of short term economics only, i.e., how the president looks. Greenspan is responsible for the absurd run up in housing that fed the economy, because joe america was encouraged to cash out their equity, under the predicion it would continue to grow infinitely, and buy buy buy to bolster the economy. All of this so the government could use the tax dollars to fund the trillions of wasted money in iraq. Regulators did nothing to discourage mortgage companies from coming up with creative financing to lure homebuyers into properties they simply couldn't afford. And wall street greed backed it up. Oh no, I feel so fucking sorry for the wall street hedgies and leh and bear stearns and all the other crooks that took billions off the table prior to their companies crashing to the ground due to subprime. You can't tell me they didn't know it would come eventually. Cramer said the ceo of leh bot a million shares this week. So fucking what. It's just a drop in the bucket of what he made during the real estate/stock market run up. booo fucking hooo. and as ususal, it's the average joe american who is suffering now because to begin with, the fed should stay the fuck out of the real estate market.
The price of oil is the failure of our government to recognize the growth of usage in china in india as it began, and lowering our dependency on oil by creating a positive environment for renewable energy. Instead, they gave huge tax incentives to the oil companies for new drilling, skyrocketing their profits, raping the consumer, and leaving us with the same dependency on a resource that has increasing demand from developing nations at the same time supplies are decreasing. The error of our government was maintaining our dependency on oil as opposed to encouraging more growth in alternative energy.
At some point, government should, in my opinion, realize that they should be taking the steps to prepare for the future, meaning twenty and thirty years out, not covering their ass for the next election.
Buzz
He provided hours of comic material for letterman and leno, and ......... uh, ..........
If Jefferson was alive, I'll bet you money he'd be planning a new revolution against the both of them.
Buzz