an educated man is unfit to be a slave
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GMAC might have something to do with it?
BOOM, breakout past $6, there's nothing, nothing at all left to support this market, the chips are being called in, more and more people are realizing they are holding worthless securities that mean nothing!
The gig is up, bankruptcies are about to soar, the government is even targeting healthcare now (first the banks), socialism is running rampant, governments have a HORRIBLE track-record of running businesses, they rot common shareholder value and soak up the preferreds, only to bankrupt the companies and use the valuable pieces for self-indulgence.
Mark today down, 13.05.2009 - climactic wave to new lows has started! Bad news is going to snowball here folks!!!
He reads whatever the teleprompter tells him to, shameful he is listed as a conservative, Ron Paul is one of few around those days that can wear that title with dignity.
Sorry to hear you sold on the heels of the bilderberg meeting, PPT on vacation, expect some sort of market-moving horrific news to come out on Sunday (or maybe Monday morning) after those slimeballs are done orchestrating the global great depression!
You seem to be under the wrong impression. Silver is a ways to preserve wealth, not necessarily survive! Does that make sense? Gold even more so, has been passed down from generation to generation as a ways to pass on wealth within a family. Never did it save you from the apocalypse... but it's been a source of barter well before even Jesus' time...
Looks good today, 1Best, what does the close need to be for technical greenshoots?
Not true, bartering will prevail.
Speaking of Bear Stearns, watch gold, every time it gets close to $1,000 - big financial news comes out, such as a major bankruptcy, etc. The chart is screaming out as a bullish inverted head & shoulders, we could be witnessing huge news coming out soon. Perhaps the GM bankruptcy will trigger a whole host of financial events?
Tomorrow is significant numbers wise = 13.05.2009 (05/13/2009) or => 9.11
It's the date before the excursion to the Bilderberg meeting in Greece, I'd imagine we may even see some significant news occur this Sunday, that's a popular date to air financial laundry, especially after a meeting of the elite of the elites.
I don't think the fear of nationalization of the banks in our country is over, and a reminder is coming soon. Basically the banks are already nationalized in the sense that they are all under private control of the Federal Reserve bank which has the ability to do as it pleases regarding interest rates, and creating or destroying the available money supply.
Ok let's see what happens tomorrow. Retail sales numbers are going to be horrible, but pay attention to any other news which may come out. At this point it should be blatantly clear that GM is bankrupt, it's only a matter of how much our newly-installed socialist government is going to give them. Didn't they just give Chrysler 8 billion to go bankrupt then get taken over by Fiat, what a great deal for Fiat? Who will benefit the most from a GM bankruptcy? Imagine if the same happens to GM except an Asian-based car company takes them over at the hands of free government cheese...
The bigger question is what are the ramifications through the entire financial system of a GM bankruptcy? They are basically a large bank in and of themselves, things are going to get interesting here.
Rumors already out that this Bilderberg meeting will be about a global depression, discussed? Should it be quick or long and drawn out. I'm sure there will be warring factions amongst the elite ranks, keep an eye out and follow the money... Keep an eye to the news here...
Market futures:
*** VALUE CHANGE % CHANGE
Dow 8,418.00 -18.00 -0.21
S&P 500 904.80 -2.00 -0.22
NASDAQ 100 1,381.00 -4.00 -0.29
Market futures are now slightly negative after being up all during after-hours. Retail sales tomorrow are not going to be good, I'm not sure how they can spin these kind of numbers after the market has rallied the way it has over the past few months...
He's funny, talks about his "expert trader" (and someone else) is saying it's a sell here... but then goes on to say it's a buy, he's covered either way, but I was looking at the technicals and I'm siding with the "expert trader" here.
He gave a lot of sell recommendations yesterday, and I'm seeing a lot of the same today, so he might just have a dose of honesty inside of him, I don't remember him being this honest when I watched him a few years back, maybe the bear market is waking him up a bit. Perhaps some complaints from a few folks?
Gentlemen, Cramer has a good show tonight, talking about GS, actually doing technical analysis showing how the stock is at resistance and has rallied on dwindling volume!
A nice dose of reality, hey, maybe the guy isn't so bad after all?
EDIT - Of course then he wound up saying he agrees with someone that it's a good buy but then he says "I wouldn't be surprised if we saw a pullback" ~LOL
~~~~~~~COMPX 5/13/2009~~~~~~~
Previous Close 1715.92 -15.32
1678 SSKILLZ1
1657 FinancialAdvisor
Today was pretty bearish (even with the Dow up after ignoring GM, BAC and C), GM bankruptcy around the corner, many others coming I'm sure, banks not looking good from manufactured Q1 earnings, how can they possibly create more of the same for Q2 reporting?
Holy hyperinflation Batman! How about the Dow completely ignoring GM, BAC, and C today... I'm dumbfounded as to where the bullishness is coming from?
Don't you have a penny stock to be pumping?
FYI: FAZ real-time +.17 to 5.30
Banking index [BKX] is down 3%, what is the symbol for the Russell 1000 financial index at yahoo that this is supposed to be -300% of?
Should be more then +1.95% at this point, at least -100% of the BKX I would think.
Support is now resistance, looks like the trend for FAZ broke today, but confirmation isn't really at 100% given this recent intraday move, and how the markets shaping up here.
Any idea how much a GM bankruptcy affects the banks? I'd imagine it'd be like an earthquake with several afterquakes throughout the entire financial system...
GM in and of itself would be like a bank going belly-up... only deposits aren't guaranteed by the FDIC
5.62 - Intraday support again for those interested, (5.56-5.62)
5.37 - intraday pullback to support for those whom are interested
I am now bullish on FAZ - Giddy up!
***May 11, 2009 - May have started today!***
*Checks clear just in time for Bilderberg meeting in Greece, Bernanke speaks tonight, sleeps in his comfy confines, then prepares to catch a flight to be with fellow elitists and cotrollers... stay tuned...
***Market is not manipulated, it is TIMED!***
4:20 pm : Declining issues outnumbered advancers by 4-to-1 in the S&P 500 as profit-takers pressured stocks for the entire session. Financials felt the brunt of the selling effort, but strength in large-cap tech helped the Nasdaq outperform its counterparts.
There weren't any major earnings announcements or economic reports to act as positive catalysts for the stock market Monday. The dearth of data seemed to encourage a round of profit taking by participants who had watched stocks climb nearly 6% last week.
As has been the recent trend, financials were the best performers last week, which made them an easy target for sellers looking to lock in gains. In turn, the financial sector shed 6.8%, cutting into last week's 23% gain.
Diversified banks slipped 6.7% and regional banks dropped 8.5% after several companies announced plans to raise capital.
In a common equity offering, Wells Fargo (WFC 26.53, -1.65) announced it raised $8.6 billion, which is more than it originally set out to raise. The bank was told by regulators last week that it needs to come up with $13.7 billion in capital. Wells Fargo indicated future earnings will help plug the company's capital shortfall.
Meanwhile, Bank of America (BAC 12.94, -1.23) was told last week that it needs more Tier 1 capital, but the company didn't offer any immediate plans to satisfy the measure during a conference call today.
***
***THEY RAN UP THE BANKS TO THIS POINT SO THEY COULD SEE HOW HIGH THEY COULD PRICE THE OFFERINGS, ALL BAD NEWS COMES OUT ON SUNDAYS, REMEMBER THAT!***
What time is Cramer on? I haven't watched one of those shows in God knows how long, but all this talk has me curious what he is going to shout at his minions courtesy of the teleprompter...
~~~~~~~COMPX 5/12/2009~~~~~~~
Previous Close 1731.24 -7.76
1713 FinancialAdvisor (would like to see a big gap-up tomorrow though to possibly gather a weighted short position/gamble)
1698 SSKILLZ1
Ok today's action has me slightly convinced, I'll be eyeing a position to benefit from the next major bear market move starting tomorrow.
About the comments about banks raising more capital, yes of course they'll need it. Something else I haven't seen discussed is the fact that depressed banking stocks will create even further dilution since it will likely trigger more shares being sold to financiers due to the lower pricing of shares.
In and of itself, this can create a torpedo lower. And don't kid yourself, our sold-out congress won't stop giving away money, market isn't likely to bottom out until we see the 3rd big spending bill which could likely topple 1 trillion dollars, so far they've done a good job staying away from the T-word when it comes to spending bills, but the next orchestrated market chaos will allow them to get what they really want!
Which is why it's better to actually short FAS then go long FAZ, always is with these weighted ETFs...
I came up with it manually using the open interest, which at 3.01-3.99 would expire the most options "worthless" -
See link -
http://finance.yahoo.com/q/op?s=FAZ
FAZ max pain this week would be under $4, not saying it's going to happen, but putting it out there.
That's called the market maker filling your shares at a lower price then quickly flipping them back at you for a very fast and guaranteed profit.
Why do people still use market orders?
Tech is now green, C just 2 cents away after being decimated during amateur-hour, helluva comeback, bulls could have one more dance in paradise before this market tests new lows...
Apparatchik Ben Bernanke speaks tonight at 6:30 ET
~~~~~~~COMPX 5/11/2009~~~~~~~
Previous Close 1739.00 +22.76
1731 FinancialAdvisor
1710 BullNBear52
1698 SSKILLZ1
I like it to benefit from rising Palladium prices, but I don't see any evidence that it's going to be able to weather a down market.
RE: $3 - BINGO! SEE YA' ALL NEXT WEEK, HAVE A GRRRREEEAAT WEEKEND!
Giddy up, 30 more points so I can lick my chops at the "short" possibilities of next week!!!
~~~~~~~COMPX 5/8/2009~~~~~~~
Previous Close 1716.24 -42.86
1771 FinancialAdvisor (hoping for a major bull-trap to go short on next week!)
1698 SSKILLZ1
Ahhh! That could be the trigger date as well!
13.05.2009 has "illuminati" overtones an the private jets will be landing in Greece!
The volume is certainly a tell-all sign - SPG had huge volume after the announced a $1,000,000,000 stock offering, SRS wasted no time responding. It's still possible this is a knee-jerk.
My weakness is patience, so I'm going to wait this one out for confirmation next week on the Eve of the oh-so-secret Bilderberg meetings in Greece...
What's the consensus here, I thought all along the stress test release was going to be the trigger date, do you all think the new trend started today? If it didn't it's damn close!
What's the consensus here, I thought all along the stress test release was going to be the trigger date, do you all think the new trend started today? If it didn't it's damn close!
Penny stock in Wall Street terms is a stock below $5/share, it'll be there again, mark my words, they are going to dilute the hell out of the common shares.
Dilution is going to cause the already existing common shares to lose significant value. Preferred's will still continue to get their dividends, of course at the cost of diluting the common shareholders.
BAC is up about 500% from it's low on just 3 short months ago on Feb. 20th to today's high. I see nothing that warrants that. Right now we are on the cusp of a major short squeeze here judging by the volume this week.
You have a bank that has 1 trillion in debt, and has been quoted as claiming they need to raise 34 billion to stay solvent. That equates to common shareholders getting bamboozled with a 10-foot pole.
Not to mention that first quarter earnings were boosted because BAC got a free pass on NOT having to report certain bad assets they hold on their books. We'll see what happens, it does not look good. What we've seen take place from the heads of the privately-owned Federal Reserve to even our supposed "leadership" in Washington equates to the first steps of nationalization in the banking industry, some might even call it globalization.
This always means that common shareholders get wiped out. Any valuable asset the company does hold would eventually belong to the "government."
Good luck.